BREAKING NEWS! BBC ‘Greek government survives confidence vote’

21 June 2011 Last updated at 22:01 GMT

Greek government survives confidence vote

Outside parliament, thousands of protesters chanted slogans against austerity measures

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Greece crisis

• Peston: Is voluntary aid a no go?
• Scenarios: From bad to worst
• Flanders: The default calculus
• Q&A: Debt crisis

The Greek government has won a critical vote of confidence in parliament as it struggles to win support for extra austerity measures and avoid a default.

Prime Minister George Papandreou’s new cabinet was approved by 155 votes to 143, with two abstentions.

MPs will now be asked to approve 28bn euros (£25bn) of cuts, tax rises, fiscal reforms and privatisation plans.

Eurozone ministers say the legislation must be passed to receive a 12bn-euro loan Greece needs to pay its debts.

Earlier, thousands of people gathered outside the parliament building in Athens to protest against both the austerity measures and politicians in general.

Mr Papandreou reshuffled his cabinet and replaced his finance minister last week after weeks of demonstrations against his handling of the crisis.

‘Moment of truth’

Just before Tuesday’s confidence motion, the prime minister told MPs that the last thing their country wanted now was an election.

“We all have to agree that we will put an end to deficits,” he said.

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What went wrong in Greece?

Greece’s economic reforms, which led to it abandoning the drachma as its currency in favour of the euro in 2002, made it easier for the country to borrow money.

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“We want to make a leaner, healthier state, because otherwise our country cannot take the burden.”

Mr Papandreou’s government must now persuade parliament to approve a five-year package of 28bn euros of tax increases and spending cuts by 28 June.

It must then push through laws implementing the reforms in time for an extraordinary meeting of eurozone finance ministers on 3 July.

The eurozone ministers on Sunday announced that they would withhold the payment of the latest tranche of the European Union and International Monetary Fund’s 110-bn euro bail-out package until the laws were in place.

Greece needs the loan to be able to keep up with payments to the creditors of its 340bn euros of debts, which amounts to 30,000 euros per person.

European Commission President Manuel Barroso warned that Greece faced a “moment of truth” and needed to show it was genuinely committed to the reforms needed to avoid a sovereign default.

Acting IMF chief John Lipsky echoed the comments, saying Greece’s fiscal system was broken but could be fixed with the right political will.

The eurozone finance ministers also agreed on Sunday to put together a second bailout package worth 120bn euros. The new aid package, to be outlined by early July, will include loans from other eurozone countries.

It will also feature a voluntary contribution from private investors, who will be invited to buy up new Greek bonds as old ones mature.

JANE BURGERMEISTER REPORT: ‘Protests continue as Greek parliament prepares to hold vote on Prime Minister and austerity legislation’

Protests continue as Greek parliament prepares to hold vote on Prime Minister and austerity legislation Jane Burgermeister | June 21, 2011 at 1:53 pm | Categories: Uncategorized | URL: http://wp.me/puNtl-1jm

Power cuts hit Greece as protests grow

By ELENA BECATOROS Associated Press

ATHENS, Greece June 20, 2011 (AP)

Greece was hit by rolling blackouts Monday as employees at the main power utility began 48-hour rolling strikes to protest the company’s privatization, part of austerity plans needed to avoid a national debt default.

Read more at: http://abcnews.go.com/Business/wireStory?id=13882352

JANE BURGERMEISTER REPORT: ‘Atmosphere Above Japan Heated Rapidly Before Earthquake, new NASA research points to Haarp’

Atmosphere Above Japan Heated Rapidly Before Earthquake, new NASA research points to Haarp Jane Burgermeister | June 21, 2011 at 1:45 pm | Categories: Uncategorized | URL: http://wp.me/puNtl-1ji

Read more at:

http://www.technologyreview.com/blog/arxiv/26773/

http://www.pakalertpress.com/2011/06/11/new-nasa-research-points-to-possible-haarp-connection-in-japan-earthquake-tsunami/

JANE BURGERMEISTER REPORT: ‘Study shows Unicef vaccination programmes cause more deaths, yet UK to pledge £814 million’

Study shows Unicef vaccination programmes cause more deaths, yet UK to pledge £814 million

In spite of a study by John Hopkins University showing that more children survived in those parts of Africa where there was NO Unicef vaccination programme, billions are to be spent on a new vaccination programme by Bill Gates with the UK government pledging £814 million.

Source: http://news.bbc.co.uk/1/hi/world/africa/8455444.stm

David Cameron pledged £814 million  to GAVI (the Global Alliance on Vaccines and Immunisation) linked to Bilderberg Bill Gates in addition to the existing funds of £680 million between 2011 and 2015 to prevent diarrhoea and pneumonia in the poorest countries.

Read more at: http://www.telegraph.co.uk/science/8573957/Vaccines-and-foreign-aid-a-shot-in-the-arm-that-will-be-felt-all-over-the-world.html

http://www.telegraph.co.uk/science/8573957/Vaccines-and-foreign-aid-a-shot-in-the-arm-that-will-be-felt-all-over-the-world.html

JANE BURGERMEISTER REPORT: ‘ACCOUNTS OF EUROPEAN MEDICINES AGENCY REJECTED BY EUROPEAN PARLIAMENT AFTER DRUG SCANDALS’

ACCOUNTS OF EUROPEAN MEDICINES AGENCY REJECTED BY EUROPEAN PARLIAMENT AFTER DRUG SCANDALS Jane Burgermeister | June 21, 2011 at 1:37 pm | Categories: Uncategorized | URL: http://wp.me/puNtl-1je

THE EUROPEAN PARLIAMENT REFUSED TO APPROVE EMA’S ACCOUNTS

IN MAY 637 MEMBERS OF THE EUROPEAN PARLIAMENT VOTED AGAINST AN APPROVAL OF THE ACCOUNTS OF THE EUROPEAN MEDICINES AGENCY. ONLY FOUR MEMBERS WOULD APPROVE

By Kaysa Nynne Kledermann

An overwhelming majority of the European Parliament decided in May 2011 not to approve the accounts of the European Medicines Agency (EMA). This according to a report appearing in Danish media on June 10, 2011.

The Agency, that approves and monitors drugs at the European level, is mainly funded by the pharmaceutical industry.

The European Parliament asks for EMA’s financial structure to be analyzed in a report.

The accounts will be treated in the European Parliament for a second time in November.

There are several reasons for this parliamentarian landmark decision.

Among other things it happens in the wake of the withdrawal from the market of the slender means “Mediator”.

It took EMA no less than ten years, from the first reports of serious adverse events in the use of the slender means “Mediator” occurred, and until the pills were finally drawn from the market. Read more of this post

JANE BURGERMEISTER REPORT: ‘Second Greek bail-out could push eurozone bill to €1,450 per household; European tax payers will have to foot bill for 250 billion euros by 2014’

Second Greek bail-out could push eurozone bill to €1,450 per household; European tax payers will have to foot bill for 250 billion euros by 2014 Jane Burgermeister | June 21, 2011 at 1:32 pm | Categories: Uncategorized | URL: http://wp.me/puNtl-1jc

Far from protecting Europe, a second bail-out of Greece is likely to cost eurozone taxpayers three times the amount of the original by 2014, according to a report by Open Europe, writes The Telegraph.

Read more at: http://www.telegraph.co.uk/finance/financialcrisis/8589016/Second-Greek-bail-out-could-push-eurozone-bill-to-1450-per-household.html

By 2014, 64% of all Greek debt or  250 billion euros could be held by European tax payers, the ECB and IMF, up from 85 billion euros at the start of 2011, Open Europe told Bloomberg.

JANE BURGERMEISTER: ‘UK Treasury plans for Greece to go bust’

UK Treasury plans for Greece to go bust Jane Burgermeister | June 21, 2011 at 1:28 pm | Categories: Uncategorized | URL: http://wp.me/puNtl-1ja

Treasury ministers have admitted that the Government is drawing up contingency plans for a Greek bankruptcy after being warned by a former foreign secretary that the euro “cannot last”, says The Telegraph

Read more at: http://www.telegraph.co.uk/news/politics/8588047/Treasury-plans-for-Greece-to-go-bust.html

JANE BURGERMEISTER REPORT: ‘JP Morgan and RBS face $800 million lawsuits over subprime fraud; regulators probe ratings agencies’

JP Morgan and RBS face $800 million lawsuits over subprime fraud; regulators probe ratings agencies Jane Burgermeister | June 21, 2011 at 1:26 pm | Categories: Uncategorized | URL: http://wp.me/puNtl-1j7

*SEC investigates role of ratings agencies Moody’s and Standard & Poor’s ahead of the financial crisis

Read more at: http://www.telegraph.co.uk/finance/financialcrisis/8583387/SEC-investigates-role-of-ratings-agencies-Moodys-and-Standard-and-Poors-ahead-of-the-financial-crisis.html

* US regulator sues JPMorgan, RBS in subprime probe

(AFP)

NEW YORK — A US regulator on Monday sued Wall Street bank JPMorgan Chase and Britain’s Royal Bank of Scotland, seeking to recover more than $800 million in losses incurred during the subprime mortgage crisis.

In its lawsuit, the NCUA charged the securities firms of the two banks had violated federal and state laws and made misrepresentations in the sale of hundreds of securities.

The regulator vowed to sue other banks that had sold credit unions mortgage-backed securities which plummeted in value during the financial crisis, without specifying which banks would be targeted.

“We expect to file additional actions and seek a total amount of damages in the billions of dollars,” Metz said.

Read more at: http://www.google.com/hostednews/afp/article/ALeqM5jzR3WD-CroazkHBk3Y25JhD0PZ9A?docId=CNG.f6e4cf8f7bcbf9e0be98991770b9f79b.cb1

WORLD WATER WARRIORS: ‘Canada legally required to take action on human right to water: Report’

www.canadians.org/media/water/2011/20-Jun-11.html

MEDIA RELEASE
For Immediate Release
June 20, 2011

Canada legally required to take action on human right to water: Report

Ottawa – As the first anniversary of the UN General Assembly’s historic recognition of the human right to water and sanitation draws near, the Council of Canadians is releasing a new report today by chairperson Maude Barlow, titled Our Right to Water: A People’s Guide to Implementing the United Nations’ Recognition of the Right to Water and Sanitation. The report is available here.

The report finds that Canada is legally bound to respect the UN vote, and therefore to address the pressing issue of access to water and sanitation in First Nations communities.

While the July 28, 2010 General Assembly resolution was not binding, two months later the Human Rights Council also recognized the human right to water and sanitation in a similar resolution, setting out exactly what this new right entails for governments. Because the Human Rights Council resolution is based on two existing treaties, it rendered the first right to water resolution binding. In other words, as the UN acknowledges, “The right to water and sanitation is a human right, equal to all other human rights, which implies that it is justiciable and enforceable.”

“All governments are now bound by these historic UN resolutions. Whether or not they voted for the two resolutions, every member nation of the UN is now obligated to accept and recognize the human right to water and sanitation and come up with a plan of action based on the obligation to respect, the obligation to protect and the obligation to fulfil these new rights,” says Barlow.

“Even though the Harper government shockingly did not vote for the right to water and sanitation, it is bound now by this obligation. We are calling on the government to recognize these new rights and let Canadians know when it will be tabling its plan of action with the UN.”

“Canada has very good public water systems and enough water to supply everyone in Canada with safe and clean drinking water. Unfortunately not all Canadians equally enjoy the human right to water and sanitation,” says Council of Canadians national water campaigner Emma Lui.

“This is apparent in indigenous communities, as illustrated by the recent report by the Auditor General of Canada. Canada has already been put on notice by the UN regarding the conditions in First Nations communities. The government is now legally bound to move to remedy these human rights violations.”

The Council of Canadians is calling for immediate action from the Harper government on these longstanding violations to the right to water in Indigenous communities. The organization will be releasing an additional report on the situation in Canada soon, which will set out its expectations of the federal government at home and internationally to fulfil this commitment.

More information:

Stuart Trew, media, Council of Canadians: strew@canadians.org, 647-222-9782
Emma Lui, Council of Canadians water campaigner: elui@canadians.org, 613-233-4487 ext 234

Download the report here (1.35 MB)

JANE BURGERMEISTER REPORT: ‘Eurozone increases pressure on Greek parliament in make or break week for eurozone’

Eurozone increases pressure on Greek parliament in make or break week for eurozone

Ahead of a key confidence vote on Greek Prime Minister Giorgos Papandreou in the parliament on Tuesday, eurozone officials have increased the pressure on Greece to agree to sweeping privatisations and additional fiscal austerity measures, arguing there is no option for Greek lawmakers except to agree to the eurozone measures or face bankruptcy.

Of course, there is an option. It is called a managed insolvency and should have been implemented a year ago given the evidence that Greece is insolvent. The German government buried a recommendation for a managed insolvency mechanism by its experts in autumn 2010.

Also, a US senate investigation, in the meantime, has concluded that the  financial crisis and Lehman debacle were avoidable. Equally avoidable are any bank crashes in Europe as a result of a Greek default, especially given the fact the tax payers and ECB are already by the far the biggest creditors of Greek, Irish and Portuguese government and bank debt.

Econmists say Greece should default, nationalise its banks and reintroduce the Drachma and reform their public sector at their own pace. A disorderly default now is far better than more fiscal austerity and hasty privatisations, which will only sink Greece deeper into ruinous debt.

More from the BBC on the make or break week for the euro with the eurozone officials openly pressuring Greece to continue down a path of economic ruin for the profit of American, German and French banks.

BBC, 20 June 2011

Eurozone finance ministers have postponed their decision on a 12bn euro ($17bn; £10bn) loan to Greece until it introduces further austerity measures.

The ministers said they expected to pay the latest tranche of a 110bn euro EU and IMF aid package by mid-July.

But its release depends on the Greek government surviving a vote of confidence on Tuesday.

Parliament then must also pass 28bn euros worth of new spending cuts and economic reforms.

Greeks have already seen wages and pensions cut and there have been regular, mass demonstrations – even riots – in protest.

The latest public opposition to the cutbacks involves Greek workers at the state-owned electricity company, who are on the first day of a 48-hour strike.

At a press conference on Monday, Jean-Claude Juncker, Luxembourg’s prime minister who chairs the meetings of the 17 eurozone finance ministers, said he felt for the Greeks: “This is something that affects me greatly. You look at the reaction of the people on the streets. You see they are rebelling. I understand that and I’m touched by that.”

Letting Greece default in a disorderly, uncontrolled way would probably be a good deal worse for the global economy than Lehman’s collapse.”

http://www.bbc.co.uk/news/world-europe-13830466