Tag Archive: EURO

Didn’t Saddam Hussein try the same thing?

Watch this space.


Even with a number of U.S. sanctions against Iran coming to an end, the Iranian government has recently made a very important decision in regards to its oil payment system and it could spell bad news for the United States. This is because Iran has apparently decided to no longer accept U.S. dollars for payment on both its new and outstanding oil sales. Instead it will receive its payment in euros.


Greece has overwhelmingly rejected Europe’s latest bailout package, plunging the country’s future in the Eurozone into jeopardy.
With all of the votes counted in a referendum that will shape the future of the continent, the ‘No’ campaign has a staggering 61 per cent of the vote – 22 points ahead.
German Chancellor Angela Merkel and French President Francois Hollande called for an EU crisis summit to find a ‘solution’ for Greece, with leaders set to meet in Brussels tomorrow.
Thousands of anti-austerity voters took to the streets in celebration as the leader of the pro-EU ‘Yes’ campaign resigned, but there were some minor skirmishes between protesters and riot police as tensions bubbled over.
But German politicians warned of ‘disaster’ as they accused Greek Prime Minister Alexis Tsipras of ‘tearing down bridges’ between Greece and Europe, with stock markets expected to take a sharp hit when they open this morning.
The news comes as Yanis Varoufakis today made the shock announcement that he is resigning as Finance Minister with immediate effect despite playing a key role in securing the ‘No victory’.

10.15: The Footsie eased off its worst levels but still remained severely depressed as the morning session progressed as Greece moved a step closer to a debt default and a possible exit from the euro, with travel and tourism stocks the worst off in London.

By mid morning, the FTSE 100 index was down 105.7 points, or 1.5 per cent at 6,648.0, having dropped around 2 per cent at open.

In Europe, Germany’s Dax 30 index and France’s CAC 40 index were both down over 3 per cent, after Greece closed its banks for the week as it prepared for a referendum on the latest bailout deal put forward by its creditors, with the Athens stock markets also to be shut all week.

Following Syriza’s Greek election triumph, left-wing campaigners from Britain’s Trade Unionist and Socialist Coalition (TUSC) are set to hold a celebration and solidarity demonstration at the Greek embassy in London.


They will assemble at the embassy on Monday night to both celebrate Syriza’s victory and advocate anti-austerity measures in the UK.

“If they can vote against austerity there, we must provide an anti-austerity choice here,” the group has said.


The demonstration, however, comes as international investment firms express concern at the economic repercussions of Syriza’s accent.

TUSC aims to field 1,000 candidates in local elections and stand a further 100 for seats in Westminster in the 2015 general election. It claims that its election challenge will represent the biggest socialist challenge in Britain since 1945.

TUSC features a number of former Labour Party councilors who were suspended for their opposition to austerity measures, which are broadly accepted by the Labour leadership as necessary.

Dave Nellist, former socialist Labour MP for Coventry South East from 1983 to 1992, was expelled from Labour at a time when the party’s stance was shifting to the right.

READ MORE: ‘Monstrous democratic slap to EU’: Le Pen hails Greek anti-austerity party victory