French economic situation was "worse than anyone [could] imagine and drastic measures [would] have to be taken in the next two years, situation is dire” voters turning to the rightwing National Front.
Puerto Rican governor Alejandro Garcia Padilla called for a moratorium that would postpone debt payments for years, allowing the country to catch up on payments while also investing in key areas like job creation, called for the U.S. to allow the country to file for bankruptcy to enable debt restructuring. Puerto Rico is a U.S. territory, not eligible to file for bankruptcy, option only open to U.S. municipalities.
Brazilian Ambassador to Russia Jose Vallim Guerreiro: setting a single currency for the BRICS member states is positive but the technical side of the issue needs to be ironed out first, would allow for the use of a single currency without any dependence on the currency market fluctuations.
Athens’ stock market closed to avoid a panic, bank holiday imposed to keep capital flight from Greece’s cash-starved banks triggering a complete collapse of the financial sector. Personal withdrawals limited to €60 per day, many retirees were blocked from receiving scheduled pension payments. Syriza-led government has imposed billions in additional cuts on the Greek working class while allowing the oligarchs to pull their money out of Greek banks and park it in offshore safe havens.
The Greek government has asked for a new bailout program from the European Stability Mechanism (ESM), that’ll cover all the country’s financial needs for the next two years, according to the government statement. The request also includes a restructuring plan for Greek debt to the European Financial Stability Facility that accounts for about 63 percent of the Greece's total debt.
Russia's home ownership rate is among the highest in the world, when communism collapsed, the governmentsimply gifted everyone the apartment where they were registered at the time, probably biggest transfer of wealth in history. Russia’s residential real estate business is surprisingly robust, demand remains “huge.”
A lot of Americans don’t have any money saved up for emergencies at all, wouldn’t have any reason to line up at ATMs. 29 percent of all Americans do not have a single penny in emergency savings, highest level ever recorded. 53 percent of Americans do not have three-day supply of food and water at home. If they were not able to resupply themselves at the stores, more than half the country would run out of food and water within days.
President Obama signed a bill giving him "fast-track" powers to conduct and conclude trade legislation. Bill was approved by Congress last week after months of contentious debate. In addition to the Trade Promotion Authority (TPA), the president signed Trade Adjustment Assistance (TAA) act, extending aid to US workers who might lose their jobs as a consequence of free-trade deals.
IMF made €2.5 billion of profit out of its loans to Greece since 2010. If Greece does repay IMF in full this will rise to €4.3 billion by 2024. IMF has been charging interest rate of 3.6% on its loans to Greece. IMF lending to all countries in debt crisis between 2010 and 2014 made a total profit of €8.4 billion, over a quarter of is from Greece.
Proposed creditor reforms have included extending the maximum length of the work week to six days and “[decompressing] the wage distribution” for public sector workers, paying lower-paid workers less so higher-paid workers can earn even more. Greek government proposed increasing corporate taxes to reduce debt, troika seeking higher value-added tax (VAT); more of the tax revenue would come from consumers instead of corporations.
European markets bracefor a wave of contagion from Greece on Monday, heavy losses for southern European government bonds and regional stock markets expected as investors scramble, safe-havens outside the euro zone, as a result, may get a boost, include Swiss franc and U.S. Treasuries.
Cable and telecommunications industry lobbied against city-run broadband, argue taxpayer money should not fund potential competitors to private companies. 20 states have restrictions against municipal broadband, attorneys general in North Carolina and Tennessee have filed lawsuits in an attempt to overrule the FCC and block towns in these states from expanding publicly funded Internet service.
“Those that were already on the margins have been pushed right to the veryedge, and those who were in the middle have been pushed to the margins, not be able to pay their electricity bill, or feed their children properly.”
European banks lost more than 50 billiion Euros ($56 billion US) as Greece shut its banks and imposed capital controls to attempt to prevent the collapse of its financial system Greece no longer qualifes for membership in the EU, widespread fears it will exit. A new bailout comes with conditions, which has been put to referendum to be voted by the Greek people.
Chinese Prime Minister Li Keqiang: Asian Infrastructure Investment Bank (AIIB) is a good recipe for solving the global economic recession and boosting growth and prosperity; the China-proposed initiative is an ambitious scheme to improve trade, infrastructure and cultural exchanges in parts of Asia, Africa and Europe.
Crisis in Greece spilling over into foreign stock and bond markets for a number of reasons. Investors backing away from bonds of other weak Eurozone countries like Portugal, Spain and Italy, pushing their yields up and bond prices down. Should Greece exit the Euro, permanency of the Euro is thrown into doubt.
"Several Italian banks failed to start trading Monday as fears over Greek debt default induced many investors to shed peripheral stocks, including Italian."Sales orders on Italian stocks, in particular financial stocks, piled up before market opening. Sales orders so numerous system couldn't manage to process them, often happens when specific news causes a sell-off on a stock.
Headlines today are declaring the stock exchange and all banks in Greece will now be shut down for the next six days. Some Greeks have already begun hoarding groceries and gasoline, tourists warned to take enough cash in case cash machines are emptied. Analysts estimating the country will likely default by Tuesday, government told its citizens not to worry.
Governor, Alejandro García Padilla “The debt is not payable,” the commonwealth cannot pay its $72 billion in debts, would probably seek significant concessions from all of the island’s creditors, could include deferring some debt payments for as long as five years or extending timetable for repayment. Island of 3.6 million people has more municipal bond debt per capita than any American state.
Greeks have begun to rush banks to withdraw euros while facing growing uncertainty about the future, largely from decision by European Central Bank to cap emergency relief that has been keeping Greek banks afloat at $89 billion. Billions have been withdrawn by the Greek people. In response, government has closed banks and limited money transfers.
European Central Bank (ECB) began discussions on Sunday to extend emergency financial support for Greece as the country moves forward with a referendum on a proposed bailout, at the same time as its current bailout speeds to a June 30 expiration.
Greek Finance Minister Yanis Varoufakis: If Europe is going to stop its bailout program for Greece in order to humiliate the country’s government, a question remains open whether Athens needs such a Europe, he stressed the Greek side has already placed all its ideas on the negotiating table and is not planning to submit any new offers.
Over one-third of the ATMs in the country, have been completely cleaned out. Between 500 and 600 million Euros were withdrawn from the machines on Saturday, which managed to deplete over 2000 ATMs.
Greek Prime Minister Tsipras calls July 5 referendum in Greece on whether to approve European Union austerity measures for extending loans to avert state bankruptcy, already agreed to billions of euros in social cuts. Greek officials refused new measures; deep pension cuts, demanded by EU, International Monetary Fund (IMF) European Central Bank (ECB). Greek Labor Minister Dimitris Stratoulis: EU’s demands “complete humiliation,”“enslavement and extermination” of the Greek people.
$500 million credit line for Venezuela to finance joint investments, expand financial, economic, industrial and technological cooperation, joint production of commodity goods, Iran’s sales of medical drugs and surgical equipment; develop a joint program in nanotechnology in which Iran is among the top seven countries. Iran agreed to transfer its expertise to Venezuela in combating an "economic war."
Russian President Vladimir Putin on Thursday submitted for ratification by the State Duma a treaty on Kyrgyzstan’s accession to the Treaty on the Eurasian Economic Union; which envisages free movement of goods, services, capital and labour, comprises Armenia, Belarus, Kazakhstan and Russia.
German Finance Minister Wolfgang Schauble: “None of my colleagues I talked to believes anything else can possibly be done now. What Plan B are we talking about? Greece has left the table and we have reached a point when the bailout program could be scrapped this coming Tuesday, because the negotiations are over.”
German Chancellor Angela Merkel implored Tsipras to accept what she calls a “generous” offer. German press reported Greece’s creditors presented PM Alexis Tsipras document outlining available funds that could be extension of the country’s second bailout or a third program.
People moving from high tax states such as Connecticut, New York, New Jersey and Illinois to lower tax states such as Texas, Tennessee, Colorado, and Arizona. California is runner-up to Connecticut has the highest tax rates of any state, highest poverty rate in the nation.
Gazprom is building a global alliance with energy major Royal Dutch Shell; include asset swaps,allow the Russian gas giant to penetrate new markets, agreed to build two new Nord Stream gas pipelines under the Baltic sea to Germany.
Because the city's investigation of Whole Foods is ongoing, penalties have not yet been assessed. Fines for falsely labeling a package can be as much as $950 for the first violation and up to $1,700 for subsequent violations. The department said Whole Foods had thousands of potential violations.
Last year, Whole Foods agreed to pay $800,000 in penalties and improve pricing accuracy after an investigation into alleged pricing irregularities in California. Whole Foods has a reputation for high prices, some call the store "Whole Paycheck.
It would “allow foreign companies to challenge U.S. laws — and potentially to pick up huge payouts from taxpayers — without ever stepping foot in a U.S. court.”“could lead to gigantic fines, but it wouldn’t employ independent judges. Instead, highly paid corporate lawyers would go back and forth between representing corporations one day and sitting in judgment the next.”
China creating institutions it needs to finance its own development (AIIB and New BRICS Bank), building infrastructure to connect the continents with state-of-the-art high-speed rail (New Silk Road), attracting allies, trading partners who want to participate in its plan for growth and prosperity.
Russian Government extended counter-sanctions against EU countries, the US, Canada, Australia and Norway through August 5, 2016, includes beef, chicken, pork, dairy products, live, chilled and frozen fish and shellfish, nuts, fruits and vegetables.
Major packaged-food companies lost $4 billion in market share alone last year, as shoppers swerved to fresh and organic alternatives, analysis by Moskow found that the top 25 U.S. food and beverage companies have lost an equivalent of $18 billion in market share since 2009. “I would think of them like melting icebergs,” he says. “Every year they become a little less relevant.”
UN World Investment Report says Gaza op to blame for sharp decrease in foreign direct investment, a decline of about 46%. increase in investment in data and communications security, Israel has a comparative advantage in this area and is considered to be a cyber superpower.
Japan, Vietnam, Malaysia, Singapore, Brunei, Australia, New Zealand are parties to TPP, along with the US, Canada, Mexico, Peru, Chile. These countries would be pushed by new trade rules to reorient their economies along lines dictated by Washington and Tokyo, not Beijing.
Record-high number of cost burdened households those paying more than 30 percent of income for housing. In the United States, 20.7 million renter households (49.0 percent) were cost burdened in 2013. 11.2 million, more than a quarter of all renter households, had "severe cost burdens, paying more than half of income for housing."
Secretary of the Russian Public Chamber Alexander Brechalov: Western sanctions having favourable effects on Russian economy and businesses operating the import substitution market; businessmen have felt chances and possibilities."
At an emergency European Union summit in Brussels yesterday, EU government heads endorsed a new raft of social cuts proposed by Syriza-led Greek government, indicated more austerity measures would be needed before a deal could be reached on Greece’s €300 billion debt. Similar emergency talks broke down a week ago. EU officials insisted Syriza’s cuts not sufficiently deep to justify releasing €7.2 billion Greece needs to pay off its creditors later this month.
EU, ECB and IMF, provoking a bank run and endangering Europe’s system to force Greece to its knees. … The guardian of financial stability is consciously accelerating a financial crisis in an EMU [European Monetary Union] member state—with possible risks of broader global contagion—as a negotiating tactic to force Greece to the table.”
The heads of state and governments of the eurozone’s 19 member states discussing ways of preventing Greece’s default. Despite a partial debt write-off in 2012, Greece’s sovereign debt currently exceeds €315 billion or 175% of its GDP. Greece is scheduled to repay a €1.6 billion loan to the IMF on June 30, which is just interest payment at a reduced rate. Athens has no money to repay the loan.
EU Council's press officer for foreign affairs, Susanne Kiefer: The European Union has extended economic sanctions against Russian for a further six months. This follows the EU’s decision Friday to extend sanctions against Crimea for another year.
European Central Bank’s second intervention in three days, Greek banking officials insist they had ‘no financing problems’ despite £1bn withdrawals yesterday. Greek Prime Minister Tsipras warns his country's exit from eurozone would be an irreversible step. Emergency meeting of EU leaders called for Monday after crisis talks to stop Greece leaving single currency failed. Russia says it is willing to consider giving financial help to Athens to protect its 'investment projects and trade.'Tsipras called Russia one of Greece's most important partners.' EU president Donald Tusk delivered ultimatum to Greece yesterday: 'Accept an offer or default'
Greek minister of state Nikos Pappas: "I am one of those who think that the IMF should not be in Europe. I hope we find a solution without its participation," Europe "has no need" for the Washington-based IMF, Europe "can continue without it and its money."
Greece’s international creditors are aiming to strike a deal to stop Athens defaulting on its debt and possibly tumbling out of the euro by extending its bailout by six months and supplying up to €18bn (£12.9bn) in rescue funds, also proposing to pledge debt relief.
Russian President Putin made an official visit to Italy, sanctions very dangerous for Italian economy, already lost a billion; invitation to leave dictatorship of the euro and join the BRICS made earlier also to Premier greek Tsipras.
European Central Bank (ECB) intervened again Friday to prop up Greece’s banks, as savers, fearing their imminent collapse, withdrew record amounts of deposits. This week €4.2 billion were withdrawn. The ECB loaned the Greek banks another €1.1 billion of “Emergency Liquidity Assistance” Wednesday.
France and Germany told Greece it must have a reform deal agreement with the Troika finalized and delivered before a crucial leaders’ summit between Athens and its creditors Monday. Pensions and wages account for 75% of primary spending; Pension expenditures account for over 16% of GDP.
Russian health authorities conducting audits of suppliers in all three countries, as well as India, Alexey Alexeyenko, the director of Rosselkhoznadzor (the Russian Federal Service for Veterinary and Phytosanitary Surveillance) is quoted as saying."About 20 companies will be verified in Greece and Hungary. In India around four to five. Cyprus requested a delay for technical reasons."
White House announced plan to slash pension benefits for hundreds of thousands of beneficiaries of multiemployer pension funds, appointing Kenneth Feinberg to oversee the cuts, as Obama administration’s “pay tsar” rubber-stamped multimillion-dollar executive bonuses to Wall Street banks bailed out with taxpayer funds, now be given power to slash workers’ benefits at his discretion. Congress allow multiemployer pension plans to slash benefits of current retirees, previously barred under federal law, endorsed by a broad range of unions
Sanctions imposed by European Union against Russia over Ukraine crisis and Moscow’s countermeasures will cost Europe €100 billion, endanger over 2 million jobs; influential German daily Die Welt reported Friday. German economy will lose €27 billion, GDP will contract by 1%, Italy will lose 200,000 jobs, France 150,000 jobs.
A total of 205 contracts, estimated at $5.4 billion, were signed at the annual St. Petersburg International Economic Forum (SPIEF-2015). These numbers completely refute the idea of Russia’s economic isolation. Russia-Greece gas deal estimated at €2 billion that will create a special enterprise for constructing Turkish Stream pipeline across Greece probably most remarkable deal struck at the forum.
Greece energy ministry; would sign pipeline deal with Gazprom, Russia’s national energy company; Russia said it would pay for infrastructure projects in Greece. Russian Deputy Prime Minister Arkady Dvorkovich: cannot comment on specific decisions.” German Chancellor Merkel in difficult spot. Her party, bankers, people, don’t want to pay for Greece, pressure from Washington to maintain alliance.
Turned into economic warfare, utilizing media to incite a bank-run in Greece, aimed at paralyzing the Greek government into submission. EU nations should understand; not about Greece anymore. Any member nations that does not fall into step with Brussels must be prepared to deal with attempts to crush it economically and politically.
Crimea’s head Sergei Aksyonov: sanctions against Crimea is of no importance for the republic, "It is a symbolic gesture. The West has already done everything which it could have done. They have tapped off water and imposed a transport blockade on Crimea. We have survived all that, continue developing in new economic realities. We have become even stronger over the past year."
Major new oilfield found in Bolivia, first in 23 years, holds up to 28 million barrels of crude, enough to triple country’s known oil reserves.
Miloslav Ransdorf Czech member of the European Parliament: Europe should stop being “useful idiots” of the United States,falling commodity turnover between Russia and European Union undermines the interests of the EU and Russian Federation, “sanctions, I think will not be officially withdrawn, but I think that they will go away slowly over time, because they are useless.”
Putin; “Russia is open to the world,” told foreign and Russian investors at the Saint Petersburg International Economic Forum (SPIEF 2015) on Friday, “Our active cooperation with new centers of global growth in no case means that we intend to pay less attention to our dialogue with our traditional Western partners.”“We have stabilized the situation… We have a stable budget. Our financial and banking systems have adapted to new conditions.”
Russia says it is ready to consider offering loans to debt-stricken Greece, which is struggling to secure financial aid from its Western creditors. Deputy Prime Minister Arkady Dvorkovich “We will support any decision (on the Greek debt crisis) that is proposed by Greece and our European partners,” said, “The most important things for us are investment projects and trade with Greece. If financial support is needed, we will consider this question.
Foreign Minister Sergey Lavrov: Moscow will take reciprocal action in response to the seizure of its foreign assets, “Our response would be in kind. This is inevitable. This is the only way of acting in international affairs, threat of seizure of Russian assets in Europe came as the country hosts international business forum in St. Peterburg. The attack may have been timed to coincide with the high-profile event.
EU governments extended for a year a ban on trade and investment with Crimea on Friday, meaning European help for Russian Black Sea oil and gas exploration and visits by European cruise ships will remain outlawed. The measures were adopted following Russia's annexation of Ukraine's Crimea region in March last year and reinforce the EU's policy of not recognizing the annexation.
Knowing default is inevitable, Greek citizens stop paying taxes, companies and individuals delayed filing tax returns amid fears that emergency levies were imminent in order to secure a deal with bailout creditors.
Ukraine's efforts to strike a debt restructuring deal with its creditors will allow the International Monetary Fund to continue to support the country even if the talks are not successful, the head of the IMF said on Friday as Greece struggles to avoid a default to the IMF on debt. IMF "could lend to Ukraine even if Ukraine cannot service its debt."
Russia invited Greece in May to become a member of the BRICS New Development Bank, regarded as an alternative to Western global financial institutions, such as the International Monetary Fund (IMF) and the World Bank. Athens would be one of the first non-founder members of the bank.
Gazprom is planning to construct two threads of a new gas pipeline with a capacity of 55 billion cubic meters per year. Shell, E.On and OMV have been invited to participate, said the company. This could double direct supplies of Russian gas to Europe.
Russian President Putin: The government understands need to maintain the dollar value against the ruble at certain level, "exchange rate difference is more potent and works more efficiently than budget support" for the real, export oriented production.
Russian Foreign Ministry said it had summoned “Belgian Ambassador Alex Van Meeuwen on June 18,” adding that the diplomat “was told that Russia considers such action by the Belgian authorities as an openly hostile act.” Belgian authorities seized the Kremlin’s assets in a bid to secure the repayment of a contested Russian debt to the former shareholders of the country's now defunct Yukos Oil Company.
Tuesday it was announced that Russia and China are expected to use the ruble and yuan in payments for gas supplied using the western Altai pipeline. The proposed pipeline will export 30 billion cubic meters of natural gas a year from Russia’s Western Siberia to North-Western China.Gazprom Export CEO Elena Burmistrova: Currency of payment has not yet been determined,” possibility of paying in yuan and rubles.”
Households with more than a million (US) dollars in private wealth projected to own 46 percent of global private wealth in 2019 according to a new report by the Boston Consulting Group (BCG).
Only includes cash, savings, money market funds and listed securities, leaves out businesses, residences and luxury goods, which comprise a substantial portion of net worth.
After a decade of negotiations China and Australia have sealed a free trade agreement which is expected to deliver a $20 billion boost to mutual trade by 2035. Currently trade between the two stands at almost $160 billion annually. A wide range of Australian manufactured goods will see tariff cuts, completes a trio of trade agreements with Australia’s top export markets, China, Japan and Korea.
Speaker of the Greek parliament said she had established a new "Truth Committee on Public Debt" to "investigate how much of the debt is “illegal.” Greece does not have the ability to pay this debt, should not pay this debt because the debt emerging from the Troika’s arrangements is a direct infringement on the fundamental human rights of the residents of Greece. We came to the conclusion that Greece should not pay this debt because it is illegal, illegitimate, and odious.
Russian financial authorities, energy companies, state-controlled banks stepping up use of China's yuan currency. Western sanctions spur diversification away from U.S. dollar. Major Russian institutions announce moves to use the yuan, will likely emerge as challenger to global dollar supremacy. Financial institutions nervous of violating U.S. rules, prodding Russia to embrace other currencies.
IMF dismisses concept of "trickle down" economics, suggests poorest 20% of citizens should make more money. “Raising the income share of the poor is actually good for growth," the report reads. IMF's conclusions contradict some of its actual policies. In Greece, the organization prescribed a diet of austerity and strategies that further erode the rights of workers.
Chinese online retailer JD.com (Jingdong Mall) chose Russia as first overseas market for its expansion. Plan to launch Russian-language website on June 18. "We plan to provide Russian consumers with the best Chinese goods; later we want to present Russian goods to the Chinese and other markets.
Greece cannot repay the debts. The West wants to loot Greece. Greece gets new loans with which to repay existing loans. If the Greek government had any sense, it would simply default. Greece can go from a heavily indebted country to a debt-free, could accept Russian offer, leave the EU and NATO. Unravelling of Washington’s empire would begin.
G7 a rich-man's club that consists of Western major powers, aims to maintain the collective hegemony of the US-led West. It used to focus on the world's economic issues, and then extended to political and security affairs. IMF and World Bank under control of G7 members.
Russian Energy Minister Sergei Donskoi: Japanese companies are exploring opportunities of cooperating with Russia in natural gas projects; European companies also became more active on the Russian fuel and energy market in conditions of sanctions.
South Dakotans for Responsible Lending is gathering signatures to put a question on the November 2016 South Dakota ballot that would limit the interest charged by payday loan outfits to 36% per year. Payday lenders crying foul, saying rates that low would force them out of business. Average interest rate on a South Dakota payday loan now around 574%.
Greece and its creditors hardened their stances after collapse of talks aimed at preventing default, possible euro exit, Germany's EU commissioner:time had come to prepare for a "state of emergency". Prime Minister Alexis Tsipras: his government would resist demands for further pension cuts.
Despite the state of the Ukrainian economy, IMF said it will continue to lend money to Ukraine, so Kiev can complete economic restructuring. "In the event that a negotiated settlement with private creditors is not reached and the country determines that it cannot service its debt, the Fund can lend to Ukraine consistent with its Lending-into-Arrears Policy," IMF Managing Director Christine Lagarde.
Los Angeles Mayor Eric Garcetti on Saturday signed a law hiking the city’s minimum wage from $9 an hour to $15 by 2020, an increase that will affect hundreds of thousands of workers. Garcetti, speaking in English and Spanish, told a crowd of hundreds at the signing event he wanted to lift city’s lowest-paid workers out of poverty.
Russian Prime Minister Dmitry Medvedev thanked the West for the sanctions it has imposed on the country, saying the bans have encouraged Moscow to improve ties with its Asian partners.“In economic terms, of course, all the sanctions that have been placed on us have inspired us to cooperate more actively with Asian countries. Thank you very much to all those states that have adopted them.”
President Vladimir Putin: Russia is interested in further expanding of cooperation with Azerbaijan’s businesses, including in the food market. In 2014, trade turnover between Russia and Azerbaijan grew by over 12%, first quarter of the current year growth was 6%. I would like to stress, we are happy about it," Putin said, if this cooperation expands, it would be even better, we are interested in it.
Iceland suffered a heavy hit in the 2008-2009 financial crisis, which resulted in convictions, jail terms for top banking executives. IMF says the country managed to achieve economic recovery“without compromising its welfare model, includes universal healthcare and education. Iceland to “surpass its pre-crisis peak of economic output proving bailing out “too big to fail” banks wasn’t the way to go.
U.S. House of Representatives rejected Trade Adjustment Assistance provision of TPP, first in a series of trade bills designed to lessen the blow of potential negative effects resulting from broader Trans-Pacific Trade deal. Number of Democrats broke ranks, voted against party leadership,
New Jersey Gov. and Republican presidential contender Chris Christie; proposed “a system where we all need to take personal responsibility to grasp the opportunities in higher education, but also one where we can get a leg up when we need it.”Debt-free college, Christie said, is not the answer.“That is a typical liberal approach. It is wrong,.”
Zimbabwean dollar ruined by hyper-inflation, which hit 500 billion percent in 2008. Zimbabweans had to carry plastic bags bulging with bank notes to buy basic goods like bread. Prices were rising at least twice a day. Government discards its worthless national currency, convert to dollars. Highest and last bank note was 100 trillion Zimbabwean dollars, not enough to ride a public bus.
The document is classified. Only Congress and staffers with security clearance can access it. They can’t make copies or carry handwritten notes out the door. Leaders of countries involved don’t want details revealed until completed. Trans-Pacific Partnership is a 12-nation deal that would link 40% of world’s economy including United States, Japan, Australia, Canada and Mexico. Obama: deal will be available for all to review once it’s done.
Greece in talks with its international creditors to secure additional financial aid before current bailout plan expires June 30. "The Greek side is ready to submit counter-proposals to overcome remaining differences, as it was agreed in Brussels at meeting between [Greek] prime minister and leaders of Germany and France, as well as head of the European Commission [Jean-Claude] Juncker.
The Trade Promotion Authority (TPA), as the “fast-track” powers are officially called, passed by a vote of 219-211, giving President Obama unlikely victory. In a preceding vote, the House struck down a proposal to extend the Trade Adjustment Assistance (TAA) program, providing assistance to workers who would lose jobs as a consequence of trade deals.
Greek delegate told by EU officials that a list must includes reform on pension and VAT. German government holding "concrete consultations" on what to do in the case of a bankruptcy of the Greek state, debt haircut for Greece being discussed. EU didn’t specifically say what would happen to Greece if there was no plan presented tomorrow.
The United States will not attempt to prevent its entrepreneurs from traveling to Russia for the St. Petersburg International Economic Forum 2015, Two executives from US companies with operations in Russia reportedly said government officials told them there would be "no punishment" if the companies attended the forum.
Greg Gianforte, tech millionaire, Republican governor of Montana: urges college students to reject policy that favors savings plans and retirement options because, like Noah, Christians have “an obligation to work” until they are hundreds of years old. “There’s nothing in the Bible that talks about retirement. Noah was 600 when he built the Ark. He wasn’t cashing Social Security checks.
Roundup Ready variety of soybeans might cost $65 to $70 a bag, and conventional, non-GMO varieties are $30 to $35 a bag, consumers in the US and other countries refuse to eat genetically modified food.
Alexis Tsipras warns that failure to agree a rescue deal for Greece the end of the eurozone, submitted a revised package of reforms to negotiators in Brussels. Europe’s leaders would have a bigger disaster on their hands because “it will be the the end of the eurozone”.
Some former government employees are being forced to take a massive cut to their pensions years after retiring, because of what the organization in charge of calculating and administering the benefits says was a mistake that led to overpayments. Encouraged those retirees to sign a document agreeing not to talk about it.
Skyrocketing college costs, cuts to public funding for higher education, stagnant incomes, growth in college-going population largely to blame for uptick in outstanding student loans over the past decade. 40 million Americans carrying some student loans, about 70% of students graduate college with debt.
Fifty hospitals in the United Statescharging uninsured consumers more than 10 times actual cost of patient care, according to research published Monday. All but one of the facilities owned by for-profit entities, largest number — 20 — are in Florida. Hospitals with highest markups not in pricey neighborhoods or big cities.
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