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June 29, 2012

Europe apparently put in a good mood by soccer, so they created a banking union

  • cause In an effort to salvage the economies of many nations in the Eurozone, European leaders financially united their nations and created a banking union last night.
  • effect The union, which effectively makes the Euro’s banking system more like the United States’, gave investors faith — the Dow jumped by 200 points this morning. source
14:36 // 2 years ago
June 17, 2012

Tensions are extremely high ahead of a vote that could shape the future of a country and a currency. In an election with wide implications, the Greek people are holding parliamentary elections are really a proxy battle on the international austerity packages the country is being pushed to take by other international governments. This is actually the second round — a prior May 6 vote effectively created a stalemate due to the rise of the once-obscure Syriza party, which promises to cancel all austerity deals if elected. Above is a clip that explains exactly what’s at stake — the possible break-up of the Eurozone. And below, a couple of notable things that happened so far today:

  • one Pro-austerity and anti-austerity parties are running close, according to one early exit poll. The “pro-Europe” New Democracy party is ahead of Syriza, 29 percent to 27 percent.
  • two There have been reports of Golden Dawn party members standing outside polling stations, looking intimidating. The Neo-Nazi party had a relatively strong showing in the last election.
  • three Two hand grenades were thrown near the headquarters of a Greek television station, Skai. They did not explode. The media group has heavily favored tough austerity measures. source

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10:33 // 2 years ago
May 7, 2012


Flip Socialism: Even before the allegations of rape against former IMF boss Dominique Strauss-Kahn, Francois Hollande was moving himself in to become the next Socialist presidential candidate, according to one French commentator. “Some say that he knew, like actually many others in the part, that DSK was doomed: His colorful private life was always bound to prevent his running for president,” journalist Agnes Poirier said. [Photos: Reuters]

CNN: How Dominique Strauss-Kahn’s fall led to Hollande’s rise

In which a tabloid-headline-generating scandal in a hotel room an ocean away from France sealed the fate of an election.

11:42 // 2 years ago