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March 27, 2024, 12:55:24 pm Mark says: Shocked Shocked Shocked Shocked  When Hamas spokesman Abu Ubaida began a speech marking the 100th day of the war in Gaza, one confounding yet eye-opening proclamation escaped the headlines. Listing the motives for the Palestinian militant group's Oct. 7 massacre in Israel, he accused Jews of "bringing red cows" to the Holy Land.
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September 24, 2017, 10:45:16 pm Psalm 51:17 says: The specific rule pertaining to the national anthem is found on pages A62-63 of the league rulebook. It states: “The National Anthem must be played prior to every NFL game, and all players must be on the sideline for the National Anthem. “During the National Anthem, players on the field and bench area should stand at attention, face the flag, hold helmets in their left hand, and refrain from talking. The home team should ensure that the American flag is in good condition. It should be pointed out to players and coaches that we continue to be judged by the public in this area of respect for the flag and our country. Failure to be on the field by the start of the National Anthem may result in discipline, such as fines, suspensions, and/or the forfeiture of draft choice(s) for violations of the above, including first offenses.”
September 20, 2017, 04:32:32 am Christian40 says: "The most popular Hepatitis B vaccine is nothing short of a witch’s brew including aluminum, formaldehyde, yeast, amino acids, and soy. Aluminum is a known neurotoxin that destroys cellular metabolism and function. Hundreds of studies link to the ravaging effects of aluminum. The other proteins and formaldehyde serve to activate the immune system and open up the blood-brain barrier. This is NOT a good thing."
http://www.naturalnews.com/2017-08-11-new-fda-approved-hepatitis-b-vaccine-found-to-increase-heart-attack-risk-by-700.html
September 19, 2017, 03:59:21 am Christian40 says: bbc international did a video about there street preaching they are good witnesses
September 14, 2017, 08:06:04 am Psalm 51:17 says: bro Mark Hunter on YT has some good, edifying stuff too.
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Author Topic: Watch Greece  (Read 21663 times)
Psalm 51:17
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« Reply #90 on: February 09, 2012, 11:39:00 am »

http://news.yahoo.com/greek-debt-crisis-eases-drama-not-over-143429053.html

2/9/12

FRANKFURT, Germany (AP) — More than two years after it came clean about its addiction to debt, Greece may finally have begun its long and painful road to recovery.

Greece's political leaders struck a historic deal Thursday to make deep cuts in government jobs and spending to help save the country from a default that could shock the world financial system.

The deal, under negotiation since July, is one of two critical steps Greece must take to receive a euro130 billion ($170 billion) bailout from other countries in Europe and around the globe. It was announced by Greek Prime Minister Lucas Papademos' office and will be scrutinized during talks in Brussels between finance ministers from the 17 countries that use the euro.

In addition to the fiscal austerity mandated by the European Union, the European Central Bank and the International Monetary Fund, Greece is close to an agreement with private investors who hold nearly two-thirds of its debt to sharply reduce the country's borrowing costs.

Greece needs the bailout by March 20 so it will have enough money to redeem euro14.5 billion worth of bonds coming due. If it doesn't make that payment, it will be in default. Financial analysts fear that could set off a chain reaction similar to the financial meltdown triggered by the collapse of investment bank Lehman Brothers in the fall of 2008.

The bailout will ease some of the uncertainty that has unsettled Europe and the world financial system for more than two years, but it will not bring down the curtain on Greece's debt drama.

Greece remains in a deep recession. Unemployment is 20.9 percent after the economy's third straight year of decline. Its government finances and its economy are being dragged down by costly political patronage, tax evasion and special protections for some favored trades.

Greece will be struggling to pay its debts for years, says Domenico Lombardi, senior fellow at the Brookings Institution. "The scope of the problems that have to be tackled in Greece are so huge and so entrenched," he says.

Efforts to fix those fundamental problems, at the behest of Greece's increasingly exasperated creditors — including prosperous Germany — are moving slowly, if at all. If they are not solved, Greece may find itself back at the edge of default
.

The deal Greek political leaders struck Thursday includes a 22 percent cut in the monthly minimum wage to euro586 ($780), layoffs for 15,000 civil servants and an end to dozens of job guarantee provisions.

Greece is also close to a vital debt-relief deal with banks, hedge funds, pension funds and other private investors. Under the tentative deal, the private investors would exchange euro206 billion in Greek government bonds for euro30 billion in cash, plus euro70 billion in new bonds. The cash would come from the euro130 billion package from Europe and the IMF. The new bonds would have a lower average interest rate and a longer term of maturity.

The combination of less principal to repay when the bonds mature and less interest to pay every year until then means Greece would spend about 70 percent less than it would have without a deal.

The debt held by the European Central Bank and other public institutions accounts for one third of Greece's national debt and is not part of this tentative deal. However, ECB President Mario Draghi said Thursday that the bank could forego profits it stands to make on Greek bonds, leaving open the door to some additional debt relief for Greece.

If Greece were to default, investors would become reluctant to lend to other heavily indebted European countries for fear they would not get their money back, pushing their borrowing costs even higher than they are now.

Those other countries include Italy, which has an economy six times the size of Greece's. Most analysts say Italy is too big to bail out.

The specter of default has hung over world financial markets for more than two years. Whenever there has been progress — and, indeed, U.S. stock indexes have doubled from the lows they reached in March 2009 — Greece has always stood in the way of more.

And while the immediate danger appears to have passed, it is far from clear whether Greece has won enough debt relief to fix its finances for good
.

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