"Spain to allow deferred home payments; Program to ease burden on rising number of jobless" by Victoria Burnett, International Herald Tribune | November 4, 2008
MADRID - Faced with an economy that is slipping into recession and the highest unemployment rate in the European Union, the Spanish government yesterday announced a program to allow out-of-work homeowners to defer mortgage payments.
Why can't YOU get that kind of deal, Amurkn?
Prime Minister Jose Luis Rodriguez Zapatero told a news conference in Madrid that the stimulus package would also include incentives for employers to hire the jobless. Under the mortgage relief program, unemployed homeowners and some retirees could postpone payment of half their monthly bill for two years starting in January.
Other countries with a troubled housing market, including the United States, are debating steps to help people stave off foreclosure, but have yet to enact any direct measures.
Then what did we give $700 BILLION of our money for?
Spain had been a European leader in job creation over the past decade, as well as the construction of new housing. But the economy has ground to a halt over the past year as the property bubble deflated and the global credit crunch bit.
Need I remind you, folks, but done on PURPOSE!!!
Rafael Pampillon, professor of economics at the IE Business School in Madrid, said the measures would help but more would be needed. "This way, people's unemployment checks can be spent on consumption rather than eaten up paying their mortgages," he said in an interview by telephone.
"But the problem is much deeper," he added, saying Spain needed labor law changes that would make it easier to lay off workers.
Translation: This guy a GLOBALIST!!
Pampillon, who thinks unemployment could well hit 15 percent next year, said the main source of new jobs would have to be public spending on infrastructure projects. --more--"
Don't you wish you could see some of that, 'murkns?
"From Iceland, a cold blast for investors; British towns sought high returns in banks" by Henry Chu, Los Angeles Times | November 4, 2008
SAFFRON WALDEN, England - Some public embarrassment is understandable as officials in Saffron Walden find themselves staring into a black hole where about $3.5 million of taxpayer money used to be.
It is NOT JUST HERE, Amurkns!
See: Banks Bend U.S. Cities Over
The sum was invested in an Icelandic bank, in an attempt by the local government, the Uttlesford District Council, to secure a toehold in the high-return world of international financial markets. But last month, barely a week before the deposit was due to mature with a healthy chunk of interest, the Icelandic government took over the bank as the entire country teetered on the brink of bankruptcy because of the worldwide financial meltdown. Uttlesford abruptly found itself unable to get its cash back.
You know the drill: Lower trousers and bend over.
The council's plight is a demonstration of the far-reaching and unforeseen effects of the global financial crisis. Because of the increasing interconnectedness of the world's economy, events in Reykjavik, Iceland's capital, suddenly are being felt in as tucked-away a corner as this pretty patch of eastern England.
I'm SICK of the SHIT LIES when we ALL KNOW this was done ON PURPOSE!!!!
Well-known charities and nonprofit organizations, including Oxford University and a cancer hospital in northern England, put their funds in Iceland's banks. So did millions of individual Britons, who opened their accounts over the Internet and happily watched their balances grow, at least online. Even the British government's own watchdog agency for public spending confessed to having $16 million tied up in Iceland, whose banking industry was so heavily leveraged that some called the country one giant Viking hedge fund.
When those banks started sinking with stunning swiftness around the beginning of October, officials in Reykjavik were forced to intervene and, essentially, nationalize Iceland's largest financial institutions.
Same here: Fascist Takeover of U.S. Banks Underway
Investors in Britain were panic-stricken over money that was frozen by the Icelandic government as it tried to sort out the banking mess. The British government's pledge to back up individual investors' deposits for as much as $80,000 failed to calm nerves, and also did not apply to bodies such as local governments and charities.
Instead, the banking debacle sparked a nasty diplomatic row. Prime Minister Gordon Brown invoked a clause in Britain's antiterrorism law and froze all Icelandic bank assets in this country.
"Terror" NEVER WAS ABOUT "terror," readers, and this proves it!!!
For their part, Icelanders bristled at being labeled a nation of extremists.
Good for them!!
Despite the faceoff, officials from both sides are working toward a solution for British investors, which is all that Michael Davis, a retired landscape architect, cares about.
Yup, the SELFISH SOB only cares about HIMSELF and INVESTORS!!!
The Chinese Solution to Wall Street's Woes
The Indian Solution to Wall Street's Woes
No Bailout ! "They Will Kill You!
Then let us EAT 'EM!!!!!!!!!!!!!!!!!!!!!!!!London has dispatched a specialist to assist the council in examining its finances and exploring its options, but that, John-Paul Campion, the council leader, said is not the issue. "We don't need someone to come help us manage our budget. We need someone to help us get our money back." --more--"That's what AMERICANS NEED, too!!!!!
Iceland's Future is AmeriKa's
