Tag Archives: eu

Pakistan PM Khan On Way Out: Blames Foreign-Funded Conspiracy

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Pakistan PM and former cricketing super-star, Imran Khan, is set to leave office after losing key support needed to survive a no-confidence vote, only the third Pak leader to face such a challenge. The military and ISI are set to take over. There is now the dire prospect of instability in the nuclear-armed state.

A few days ago, at a huge rally he revealed that a foreign-funded conspiracy of which he later gave proof was demanding his ouster, because it did not want Pakistan to pursue an independent foreign policy.

Three weeks ago, Khan raged against the EU for telling him to vote condemning Russia, and asked, “Are we your slaves?”

Now the opposition has the votes needed to oust him.

Ron Paul: Governments Never Want Peace

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Ron Paul:

“Meanwhile, it is rumored by the Financial Times, AFP and others that Greece may spend more than it saves from austerity measures on arms deals with Germany, France and the US as a potential condition of receiving bailout funds.

If true, it is certainly not unprecedented for the global military industrial complex to benefit from deals made by their friends in the central banking community. After all, war is the health of the state. The last thing big government proponents want is for peace to break out in the world.”

Portugal and Spain In Trouble Too…

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Will Frankfurt (the European Central Bank) come to the rescue of Greece, or Spain, or Portugal? Maybe in the end, but not now, reports Ambrose Evans-Pritchard in The Telegraph:

“Mr Callow of Barclays said EU leaders will come to the rescue in the end, but Germany has yet to blink in this game of “brinkmanship”. The core issue is that EMU’s credit bubble has left southern Europe with huge foreign liabilities: Spain at 91pc of GDP (€950bn); Portugal 108pc (€177bn). This compares with 87pc for Greece (€208bn). By this gauge, Iberian imbalances are worse than those of Greece, and the sums are far greater. The danger is that foreign creditors will cut off funding, setting off an internal EMU version of the Asian financial crisis in 1998.

Jean-Claude Trichet, head of the European Central Bank, gave no hint yesterday that Frankfurt will bend to help these countries, either through loans or a more subtle form of bail-out through looser monetary policy or lax rules on collateral. The ultra-hawkish ECB has instead let the M3 money supply contract over recent months.”

Mr Trichet said euro members drew down their benefits in advance — “ex ante” — when they joined EMU and enjoyed “very easy financing” for their current account deficits. They cannot expect “ex post” help if they get into trouble later. These are the rules of the club.”