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    • The "grief tech" firms helping users create talking avatars of their dead relatives.View the full article
    • I do disagree with you regarding one thing - we are not very good with letters or these situations and are slow on the uptake. So far you have stood up to Excel and their threats, immediately given us the information in the sticky, done loads of reading up to educate yourselves, learnt from the mistake of outing the driver so you'll know not to do so in the future, got on to the organ grinder to try to get them to call off their dogs, etc., etc.  Good grief - we wish everyone who came here would do this!!! Most people who get these invoices sadly think they have been fined and if they don't pay a drone from Ukraine will be diverted and will fall on their home (or some such vague grand apocalyptic threat) and they fold and give in.  You haven't.  Well done. Don't worry - you won't be paying a penny.  Although it will take some time to see off this vile company.
    • Spot on!  You learn quickly. Who cares if the case gets sent to debt collectors?  They have no powers.  All the effort you will have to put in will be to open envelopes - and then spend time laughing at their daft "threats".  No stress at all!
    • I did ask them why, but seems they have more spare cash than we do .. ;-( .. I doubt their bank would even support a chargeback after a year has passed. Anyway I've constructed my first DRAFT Snotty Letter .. so here goes ..   RE: PCN 4xxxxx Dear ALLIANCE PARKING Litigation Dept, Thank you for your dubious Letter Of Claim (dated 29th April 2024) of £100 for just 2 minutes of overstay. The family rolled around on the floor in amazement of the idea you actually think they’d accept this nonsense, let alone being confused over the extra unlawful £70 you had added. Shall we raise that related VAT issue with HMRC, or perhaps the custodians of the unicorn grain silos? Apart from the serious GDPR breach you’ve made with the DVLA and your complete failure in identifying the driver, we’re dumbfounded that the PCN is still not compliant with the PoFA (2012 Schedule 4 Under Section 9.2.f) even after 12 years of pathetic trial and error. We also doubt a judge would be very impressed at your bone idleness and lack of due diligence regarding the ANPR entry / exit periods compared with actual valid parking periods. Especially with no consideration of the legally allowed grace periods and the topological nature of the Cornish landscape versus a traditional multi-storey. And don’t even get us started on the invisible signage during the ultra busy bank holiday carnage, that is otherwise known as the random parking chaos in the several unmarked over-spill fields, or indeed the tedious “frustration of contract” attempting to get a data connection to Justpark.  We suggest your clients drop this extreme foolishness or get an absolute hammering in court. We are more than ready to raise the issues with a fair minded judge, who will most likely laugh your clients out in less time than it takes to capture more useless ANPR photos. We will of course be requesting “an unreasonable costs order” under CPR 27.14.2.g and put it toward future taxis to Harlyn Bay instead.  We all look forward to your clients' deafening silence. Legal Counsel on behalf of the Vehicle Keeper.  
    • Hi,t I'm not sure if I'm posting in the right subsection but General Retail appears to be the closest to it I think... About a year and a half ago I got a new phone so I listed my iPhone 10 on eBay.  The listed stated 'UK only' and 'no returns accepted'. Considering I had had the phone for about 4 years, I myself was amazed that I had kept it in such good condition all that time - apart from being slightly scuffed around the charging port there was absolutely nothing wrong with it. It had the original box, its unopened original Apple cable, plug, and earbuds, and I threw in a case for it and It had always had a screen protector on it. Someone wanted it from Armenia, and I stupidly agreed to it.  She paid and I sent it off, fully insured. Not long after she received it, she sent a message saying it 'was not as described', so I asked to see photos of whatever was the problem.  She sent two photographs of the box.  Just the box.  I said I wasn't even going to consider refunding her unless she told me what she meant by 'not as described'.  I thought, if it's been damaged in transit, then it would be covered by the insurance. Anyway, she didn't respond at all, even though I had messaged her several times, so she opened a case with eBay. I have sold a fair few things of mine on eBay in the past buy had never had had anyone come back to me asking for a refund.  I got in touch with eBay several times by phone and by email, and found out they always side with the buyer, no matter what with their 'eBay Seller Guarantee'.  She had been told she could keep the phone and told me they would recover the money from me from my account blah blah.  So I unlinked all of my cards etc and changed my bank account to one that I never use with no money in it. My account got suspended.  I continued to try to explain to eBay that I had been scammed but I got nowhere. My account was permanently inaccessible by this point. I reported the phone stolen and the IMEI blacklisted but I'm not sure if that would make any difference being in Armenia, but it was all I could think of to piss the buyer off. A couple of months later I was contacted by email by a debt recovery company (I can' remember who now), to whom I explained I will not discuss the matter with them until I had received an SAR I had requested from eBay. As I could no longer access my account, I couldn't review the communication I needed to show I was not in the wrong. The SAR was produced but I was advised that the information I was looking for would not be included but I said I wanted it anyway.  There were so many codes etc. and hoops to jump through to access it, that even after trying whilst on the phone to them, I still couldn't get into it, so I never got to see it in the end.  I think they said they would send the code by post but they never did and I forgot about it after a while. I've just come across a couple of emails from Moorgroup, asking me to phone them to discuss a private matter regarding eBay.  I haven't replied or done anything at all yet.  The amount they are trying to recover from me is £200ish from what I remember. I know it's not that much but I don't want to pay the b*astards on general principle. I've had a lot of useful advice from CAG in the past about debt collectors but it has always been about being chased by creditors, I've never been in this situation before. I don't know what power they legally have to recover the 'debt', and most importantly, I am two years into a DRO, and the last thing I want is another CCJ to shake off if I'm cutting my nose off to spite my face.   Any advice gratefully received!!
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      On 15/1/24 booked appointment with Big Motoring World (BMW) to view a mini on 17/1/24 at 8pm at their Enfield dealership.  

      Car was dirty and test drive was two circuits of roundabout on entry to the showroom.  Was p/x my car and rushed by sales exec and a manager into buying the mini and a 3yr warranty that night, sale all wrapped up by 10pm.  They strongly advised me taking warranty out on car that age (2017) and confirmed it was honoured at over 500 UK registered garages.

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      I’m not happy to do this, drive the car or with the after care experience (a sign of further stresses to come) so want a refund and to return the car asap.

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    • We have finally managed to obtain the transcript of this case.

      The judge's reasoning is very useful and will certainly be helpful in any other cases relating to third-party rights where the customer has contracted with the courier company by using a broker.
      This is generally speaking the problem with using PackLink who are domiciled in Spain and very conveniently out of reach of the British justice system.

      Frankly I don't think that is any accident.

      One of the points that the judge made was that the customers contract with the broker specifically refers to the courier – and it is clear that the courier knows that they are acting for a third party. There is no need to name the third party. They just have to be recognisably part of a class of person – such as a sender or a recipient of the parcel.

      Please note that a recent case against UPS failed on exactly the same issue with the judge held that the Contracts (Rights of Third Parties) Act 1999 did not apply.

      We will be getting that transcript very soon. We will look at it and we will understand how the judge made such catastrophic mistakes. It was a very poor judgement.
      We will be recommending that people do include this adverse judgement in their bundle so that when they go to county court the judge will see both sides and see the arguments against this adverse judgement.
      Also, we will be to demonstrate to the judge that we are fair-minded and that we don't mind bringing everything to the attention of the judge even if it is against our own interests.
      This is good ethical practice.

      It would be very nice if the parcel delivery companies – including EVRi – practised this kind of thing as well.

       

      OT APPROVED, 365MC637, FAROOQ, EVRi, 12.07.23 (BRENT) - J v4.pdf
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The great intrest rate rip off part 6


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Breaking news

 


 

 

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Bosses of Farepak hit back over 'damage to reputations'

 

23 June 2012 12:00 AM

Protests of executives spark new anger from victims of the savings scandal

 

 

 

Eurozone row over monetary policy heats up

 

23 June 2012 12:00 AM

The Bundesbank yesterday condemned a decision by the European Central Bank (ECB) to loosen its collateral rules in a sign of rising tension over the conduct of European liquidity operations.

 

 

 

Former nurse loses £12m case for unfair dismissal

 

23 June 2012 12:00 AM

Controversial entrepreneur Kate Bleasdale's reputation lay in tatters last night after she lost her £12m unfair dismissal case against Healthcare Locums, the recruitment firm which sacked her last year following the discovery of a black hole in the accounts.

 

 

 

African deal for mines is scrapped as valuation fears mount

 

23 June 2012 12:00 AM

Mineral-rich Guinea is scrapping a controversial mining deal after fears it represented bad value for the country's valuable assets, keenly in demand from the likes of Rio Tinto and Brazil's Vale.

 

 

 

Max shares take a dive after drilling setbacks

 

23 June 2012 12:00 AM

Kazakhstan oil explorer Max Petroleum's shares halved in value yesterday after the company said it may have to "significantly curtail" its drilling programme.

 

 

 

Iceland's record profit amid buyout

 

23 June 2012 12:00 AM

Iceland Foods has toasted record profits for the seventh-consecutive year, despite the distraction of the protracted £1.55bn management buyout led by its chief executive, Malcolm Walker.

 

 

 

William Hill wins Nevada licence

 

23 June 2012 12:00 AM

William Hill, the UK's biggest bookie, has made its first foray into the US by winning a licence to operate in the state of Nevada, home of the Las Vegas casino industry.

 

 

 

Disney Store hit by rise in online costs in Europe

 

23 June 2012 12:00 AM

The retailer Disney Store showed that all was not well with Mickey Mouse and his friends last year by posting widening losses, and blamed increased costs from its online operations on the Continent.

 

 

 

UK job losses as Spain gets planes work

 

23 June 2012 12:00 AM

Britain's manufacturing industry suffered a blow yesterday when defence group Cobham said a major military planes contract will move from southern England to Spain, leading to up to 320 job losses.

 

 

 

Del Missier gets new role with Barclays

 

23 June 2012 12:00 AM

Barclays yesterday appointed one its co-heads of investment banking, Jerry del Missier, to the new position of chief operating officer.

 

 

 

African deal for mines is scrapped as valuation fears mount

 

23 June 2012 12:00 AM

Mineral-rich Guinea is scrapping a controversial mining deal after fears it represented bad value for the country's valuable assets, keenly in demand from the likes of Rio Tinto and Brazil's Vale.

 

 

 

Bosses of Farepak hit back over 'damage to reputations'

 

23 June 2012 12:00 AM

Protests of executives spark new anger from victims of the savings scandal

 

 

 

Former nurse loses £12m case for unfair dismissal

 

23 June 2012 12:00 AM

Controversial entrepreneur Kate Bleasdale's reputation lay in tatters last night after she lost her £12m unfair dismissal case against Healthcare Locums, the recruitment firm which sacked her last year following the discovery of a black hole in the accounts.

 

 

 

Eurozone row over monetary policy heats up

 

23 June 2012 12:00 AM

The Bundesbank yesterday condemned a decision by the European Central Bank (ECB) to loosen its collateral rules in a sign of rising tension over the conduct of European liquidity operations.

 

 

 

Del Missier gets new role with Barclays

 

23 June 2012 12:00 AM

Barclays yesterday appointed one its co-heads of investment banking, Jerry del Missier, to the new position of chief operating officer.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites

23 June 2012 Last updated at 17:38

 

 

RBS chief sorry for bank glitches_61099758_hester.jpg

 

The chief executive of NatWest's owner RBS, Stephen Hester, apologises for technical problems which left customers unable to pay bills or access money.

 

 

_61096174_015114617-1.jpgSir Chris Hoy defends tax affairs

 

Olympic cyclist Sir Chris Hoy defends his tax arrangements after it was reported that he received a loan from his own company.

 

 

_61085888_015129957-2.jpgEuro's big four agree growth plan

 

The leaders of the eurozone's four biggest nations, Germany, France, Italy and Spain, agree a package to boost economic output by 1%.

 

 

 

Eurozone in crisis

 

 

 

 

 

 

Other top stories

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Greece outlines plan to ease bailout burden

 

3:18pm BST

ATHENS - Greece wants tax cuts, extra help for the poor and unemployed, a freeze on public sector lay-offs and more time to cut its deficit under a plan likely to run into strong opposition at a European Union summit next week.

 

 

KKR raises $3 billion for second Asia fund

 

- Kohlberg Kravis Roberts, the private equity company, has raised more than $3 billion for its second Asia fund, according to a securities filing.

5:24pm BST

 

Praktiker shareholders push own cost-cutting plan: report

 

BERLIN - Key Praktiker shareholders have been courting investors with a restructuring plan that differs from the struggling German retail chain's own cost-cutting blueprint, WirtschaftsWoche reported on Saturday.

4:47pm BST

 

Euro's big four agree growth boost, split on bonds

 

ROME - German Chancellor Angela Merkel resisted pressure on Friday for common euro zone bonds or a more flexible use of Europe's rescue funds but agreed with leaders of France, Italy and Spain on a 130 billion euros (104.85 billion pounds) package to revive growth. | Video

G20, Spain 6:15pm BST

 

Fear and hope divide investors ahead of EU Summit

 

LONDON - Investors are approaching the coming week's crucial European Union leaders summit braced for disappointment but keen to put money to work on any signs of a unified and comprehensive plan to tackle the region's 30-month-long debt crisis.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites

Chinese Data Mask Depth of Slowdown, Executives Say

 

By KEITH BRADSHER

 

 

Corporate executives and economists say officials in some Chinese cities and provinces are falsifying statistics to mask the extent of the downturn in the nation’s economy.

 

 

 

Yuan-sfSpan.jpg

Gilles Sabrie for The New York Times

 

Coal stockpiled at Qinhuangdao port, one of the largest coal storage areas in China, reached 9.5 million tons this month.

 

 

 

 

 

 

 

 

The iEconomy

 

24retail-ss-slide-XFD8-thumbStandard.jpg

Apple’s Retail Army, Long on Loyalty but Short on Pay

 

By DAVID SEGAL 50 minutes ago

 

While consumers tend to think of Apple’s headquarters as the company’s heart and soul, a majority of its workers in the United States are hourly wage earners selling iPhones and MacBooks.

 

 

DealBook

 

A Sober New Reality in Credit Downgrades for Banks

 

By PETER EAVIS 9:30 AM ET

 

Banking industry analysts think Moody's downgrades will cause lasting pain to some of the biggest American banks.

 

In Banks’ Downgrade, Not Much to Worry Consumers

 

By TARA SIEGEL BERNARD

 

Banks may have to pay more to borrow money, but bank analysts don’t see that changing what consumers pay to borrow.

 

DealBook

 

A Debate Goes Behind Closed Doors

 

By BEN PROTESS

 

A proposal takes aim at sending derivatives trading overseas to escape the eyes of American regulators, but the Commodity Futures Trading Commission is said to be planning to cast their votes in private.

 

Your Money

 

23money-thumbStandard.jpg

Getting Lost in the Labyrinth of Medical Bills

 

By TARA SIEGEL BERNARD

 

How do hospitals and doctors arrive at the fees they charge? The not-so-simple answer is that it depends on what sort of deal their medical provider has negotiated with their insurer.

 

 

An Increase in Barriers to Trade Is Reported

 

By ANNIE LOWREY

 

Trade experts say that governments have felt pressure to protect their domestic industries and started inhibiting foreign competition to compensate.

 

Leaders Vow to Defend Euro, but Hint at Rifts on How

 

By ELISABETTA POVOLEDO and STEVEN ERLANGER

 

The leaders of Germany, France, Italy and Spain said they would use all means necessary to protect the common currency, but there is clear disagreement over what measures to take.

 

 

23air-pic-thumbStandard.jpg

American and Pilots Near Accord on Contract

 

By JAD MOUAWAD

 

The pact would give the airline more flexible work rules and the ability to use regional partners to fly larger jets, which had been a hurdle in previous talks.

 

 

G.M. Recalls 475,000 Chevy Cruzes to Fix a Potential Engine Fire Hazard

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites

[/url]

 

Angela Merkel defies Latin Europe and the IMF on bond rescue

 

merkel-close_2256625g.jpg

German Chancellor Angela Merkel has shot down calls for full mobilization of the eurozone's bail-out funds to halt the raging bond crisis in Spain and Italy, ignoring unprecedented pleas for action from the International Monetary Fund.

1354 Comments

Debt crisis: as it happened June 22

 

 

Greek leaders fall ill on first day of new government

 

 

Debt crisis: Spain to request bailout on Monday

 

 

Booming Iceland makes second early loan repayment to IMF

 

 

 

 

Taxpayer to pick up Farepak directors' bill

 

farepak_2256668g.jpg

The Farepak directors who were vindicated after the collapse of a High Court case against them, are to be granted millions of pounds in legal costs by the Government.

 

Jim O'Neill would shake up Bank of England

 

PD36099381_DV68479_2206390g.jpg

Jim O'Neill, the Goldman Sachs banker touted as a future Governor of the Bank of England, would want to change the Bank's mandate if he got the job.

213 Comments

 

RBS and Moody's clash over rating downgrade

 

RBS_2240074g.jpg

Taxpayer-owned bank disagrees with the ratings change, claiming the ratings cut did not give enough credit for the "substantial improvements" it had made to its balance sheet.

10 Comments

Moody's downgrade of banks to hit families

 

 

Moody's bank downgrades: reaction

 

 

 

Bleasdale fails in £12m sex discrimination case

 

locums_1992032g.jpg

Kate Bleasdale, the colourful entrepreneur who was sacked from the company she set up Healthcare Locums, over “serious accounting irregularities” has failed in her attempt to sue the business for unfair dismissal.

 

Del Missier to oversee Barclays shake-up

 

missier_1842569g.jpg

Barclays chief executive, Bob Diamond, has put Jerry del Missier, one of the bank's most senior executives, in charge of restructuring the business.

 

Booming Iceland makes second early loan repayment to IMF

 

landsbanki_2239804g.jpg

Iceland, whose economy has recovered rapidly following the 2008 collapse of its banking sector, on Friday repaid $483.7 million in loans to the International Monetary Fund.

58 Comments

 

Debt crisis: Angela Merkel defies Latin Europe and the IMF on bond rescue

 

 

 

 

Debt crisis: as it happened June 22

 

 

 

 

Debt crisis: Spain to request bailout on Monday

 

A call from an old friend could ease Qantas's pain

 

Desperate Monti needs Merkel summit deal to stop revolt at home

 

Here's one reason the economy could soon be looking up

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites

As Europe Teeters This Weekend...

 

What, you mean the Bundesbank would like to "own the world"?

As Spanish banks scramble for collateral to use in the refinancing operations that are keeping them afloat, the Frankfurt-based ECB said it will cut the rating thresholds and amend eligibility requirements for some asset-backed securities. While the move will give stressed banks greater access to ECB liquidity, it may also increase the amount of risk on the central bank’s balance sheet.

“We’re critical of this,” Bundesbank spokesman Michael Best said yesterday. In terms of collateral, “we won’t accept what we don’t have to accept,” he said.

....

“It’s almost the usual game: the ECB has to do something to alleviate a liquidity crisis and the Bundesbank isn’t very happy about it,”
Holger Schmieding
, chief economist at Berenberg Bank in
London
, said in a telephone interview.

This is not, as often claimed, a "liquidity crisis."

When you continually spend more than you take in the problem is not liquidity. It is solvency -- specifically, your insolvency.

 

More at the link.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Breaking news

 


 

 

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Defence Secretary told to shut Portsmouth dockyard

 

24 June 2012 12:00 AM

Review calls for delay in £5bn warship programme, putting 3,000 jobs under threat

 

 

natwest.jpg

First ever Sunday opening for 1,200 NatWest branches after computer glitch

 

24 June 2012 12:58 PM

NatWest opened 1,200 branches on a Sunday for the first time ever today as the bank looked to clear a massive backlog of payments caused by a computer failure.

 

 

 

'Hollande will ruin France,' says top ad man

 

24 June 2012 12:00 AM

Maurice Levy claims the President won't help the economy, but unlike Sir Martin Sorrell he has no plans to leave home

 

 

Maude clamps down on Whitehall contracts

 

24 June 2012 12:00 AM

Millions saved by getting tough on suppliers plus more cost cuts to come

 

 

SU-14-natwest-afp.jpg

NatWest to open today after IT fault

 

24 June 2012 12:00 AM

Bank scrambles to clear payment backlog after technical problem

 

 

 

Tesco seeks to bolster its top-tier executives to shore up UK performance

 

24 June 2012 12:00 AM

Tesco has started the search for a UK commercial director to sort out its stuttering domestic performance, as the grocery giant prepares to face shareholders in Cardiff this week.

 

 

 

Slow buses hold up Stagecoach

 

24 June 2012 12:00 AM

Stagecoach is expected to post a flat pre-tax profit of around £200m this week, as a slowing bus market drags down success on the UK rail network.

 

 

 

Treasury borrowing fails to contract

 

24 June 2012 12:00 AM

Chancellor George Osborne faces a fresh borrowing headache this week as the impact of Britain's double-dip recession wreaks havoc on the public finances.

 

 

 

Shell fights on for Cove

 

24 June 2012 12:00 AM

Royal Dutch Shell is expected to turn up the heat in its battle for Cove Energy, the Mozambique-focused gas explorer that has generated huge interest among the supermajors.

 

 

 

Treasury borrowing fails to contract

 

24 June 2012 12:00 AM

Chancellor George Osborne faces a fresh borrowing headache this week as the impact of Britain's double-dip recession wreaks havoc on the public finances.

 

 

 

Defence Secretary told to shut Portsmouth dockyard

 

24 June 2012 12:00 AM

Review calls for delay in £5bn warship programme, putting 3,000 jobs under threat

 

 

Maude clamps down on Whitehall contracts

 

24 June 2012 12:00 AM

Millions saved by getting tough on suppliers plus more cost cuts to come

 

 

Shell fights on for Cove

 

24 June 2012 12:00 AM

Royal Dutch Shell is expected to turn up the heat in its battle for Cove Energy, the Mozambique-focused gas explorer that has generated huge interest among the supermajors.

 

 

 

Slow buses hold up Stagecoach

 

24 June 2012 12:00 AM

Stagecoach is expected to post a flat pre-tax profit of around £200m this week, as a slowing bus market drags down success on the UK rail network.

 

 

 

Tesco seeks to bolster its top-tier executives to shore up UK performance

 

24 June 2012 12:00 AM

Tesco has started the search for a UK commercial director to sort out its stuttering domestic performance, as the grocery giant prepares to face shareholders in Cardiff this week.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

24 June 2012 Last updated at 10:24

 

 

Banks opened on Sunday for glitch_61103021_015129673-1.jpg

 

Some 1,200 NatWest, RBS and Ulster Bank branches opened on a Sunday for the first time, after a computer glitch affected millions.

 

 

PM considers big cuts to benefits

 

David Cameron suggests people under the age of 25 could lose the right to housing benefit - but a senior Lib Dem warns against a repeat of "1980s mistakes". 1609

 

 

 

_61104014_samaras.jpgGreek PM cannot attend EU summit

 

Greece's new Prime Minister Antonis Samaras will miss this week's EU summit while he recovers from eye surgery.

 

 

 

Eurozone in crisis

 

 

 

 

 

 

Other top stories

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Hollande may lose euro battle as Merkel holds firm

 

3:08pm BST

PARIS - French President Francois Hollande may have set himself up for a fall this week, as Germany's Angela Merkel shows no sign of yielding to his push to provide more financing guarantees to stabilise the euro zone.

Stop asking for more help, Germany tells Greece

 

BERLIN - Greece's new government should stop asking for more help and instead move quickly to enact reform measures agreed to in return for previous bailouts from its European partners, German Finance Minister Wolfgang Schaeuble said on Sunday.

 

Julius Baer eyes BofA's Asia, Latam presence: paper

 

BASEL, Switzerland - Julius Baer , in talks with Bank of America about buying Merrill Lynch's non-U.S. wealth management unit, is particularly interested in its presence in Asia and Latin America, Chief Executive Boris Collardi told a newspaper.

12:58pm BST

 

PDVSA turns to traders to sustain Ecuador oil deal

 

CARACAS - Venezuelan state oil giant PDVSA has had to buy dozens of extra fuel cargoes from countries as far away as Estonia and Saudi Arabia to keep up its side of a 2008 oil supply deal with leftist ally Ecuador, according to traders and sales documents.

3:21pm BST

 

Teva shares jump on positive Copaxone patent ruling

 

JERUSALEM - Teva Pharmaceutical Industries rose more than 11 percent on Sunday after a U.S. court upheld Teva's patents for multiple sclerosis drug Copaxone well into 2015.

3:22pm BST

 

Fear and hope divide investors ahead of EU Summit

 

LONDON - Investors are approaching the coming week's crucial European Union leaders summit braced for disappointment but keen to put money to work on any signs of a unified and comprehensive plan to tackle the region's 30-month-long debt crisis.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites

[/url]

 

Blair says only Germany and a 'grand plan' can save euro

 

bl_2254562g.jpg

The former British Prime Minister said the euro can only saved by a "grand plan" in which Germany is prepared to treat the debts of all nations as one and other nations accept reforms.

335 Comments

New Greek leader Samaras to miss key EU summit

 

 

EU president Van Rompuy to unveil banking union plan

 

 

 

 

Hester under pressure to explain Natwest glitch

 

2601natwestnew_1566004g.jpg

Calls for RBS chief executive Stephen Hester to give a public account of failure of computer systems as politicians and small businesses attacked the bank’s failures and the crisis enters sixth day.

265 Comments

NatWest opens on Sunday to clear backlog

 

 

Natwest glitch: RBS chief's message to staff and customers

 

 

 

FSA to reveal evidence of rate swap mis-selling

 

fsa-rate-swap-scan_2257226g.jpg

Financial Services Authority to say it has found evidence of serious mis-selling at some of Britain’s largest banks as part of a review of the way lenders pushed small businesses to buy controversial interest rate swaps.

149 Comments

The FSA must show its muscle over mis-selling

 

 

HSBC let me down, says widow mis-sold a rate swap

 

 

 

BoE expected to free up billions for lending

 

bankofe_2255283g.jpg

The Bank of England is expected to unveil the latest plank of its recovery strategy this week when it relaxes financial regulations to free up billions of pounds for lending to help reinvigorate the economy.

41 Comments

 

Ministers attacked over avoidance 'witch hunt'

 

tax1_2257228g.jpg

Financial advisers to the rich and famous have hit back at the Government’s handling of tax avoidance, just days after HM Revenue and Customs closed a scheme used by many celebrities.

122 Comments

 

Boots to return to London stock market

 

boots_2026327g.jpg

Boots is to return to the UK stock market as a by-product of Walgreens’ $6.7bn (£4.3bn) acquisition of a 45pc stake in the retailer’s parent company, Alliance Boots.

5 Comments

All the world's a stage for Boots

 

 

 

US to fall off 'fiscal cliff', warns Joseph Stiglitz

 

 

 

 

Bond 'ignores’ Xstrata shareholders in £29m pay row

 

 

 

 

Ban on Farepak directors to be lifted

 

David Laws pushes for more cuts

 

laws_2257236g.jpg

Liberal Democrat calls for more radical public spending cuts and further 'substantial' rise in personal income tax threshold.

541 Comments

Booming Iceland makes second early loan repayment to IMF

 

 

 

 

Debt crisis: Angela Merkel defies Latin Europe and the IMF on bond rescue

 

 

 

 

Debt crisis: as it happened June 22

 

Eurozone nations are stuck in a 'doom loop’

 

Sliding oil price could herald the beginning of a recovery

 

The FSA must show its muscle over mis-selling

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

A Georgia Town Takes the People’s Business Private

 

By DAVID SEGAL

 

 

Cities across the United States have dabbled for years with various levels of privatization, but few have taken the idea as far as Sandy Springs, Ga.

 

 

 

 

24town-ss-slide-J1IP-sfSpan.jpg

T. Lynne Pixley for The New York Times

 

 

 

 

 

 

 

 

 

The iEconomy

 

apple-thumbStandard.jpg

Apple’s Retail Army, Long on Loyalty but Short on Pay

 

By DAVID SEGAL

 

While consumers tend to think of Apple’s headquarters as the company’s heart and soul, a majority of its workers in the United States are hourly wage earners selling iPhones and MacBooks.

 

 

 

 

Greek Coalition Outlines Plan to Renegotiate Loan Deal

 

By NIKI KITSANTONIS

 

The new government aims to revoke certain taxes, suspend planned layoffs in the bloated public sector and extend by two years the deadline for imposing additional austerity measures.

 

Former Russian Minister Warns of Economic Ebb

 

By ANDREW E. KRAMER and DAVID M. HERSZENHORN

 

Aleksei L. Kudrin, the former minister of finance, warned at a news conference that Russia was in danger of falling into a recession.

 

embalmer-thumbStandard.jpg

Helpful Hands on Life’s Last Segregated Journey

 

By KIM SEVERSON

 

When a black person dies in one of the rural counties around Madison, Ga., chances are the body will end up in the hands of Charles Menendez.

 

Slipstream

 

24-INSIDE-thumbStandard.jpg

E-Tailer Customization: Convenient or Creepy?

 

By NATASHA SINGER

 

Online retailers are turning to a handful of specialty companies to help them analyze customer data and segment their audiences for special treatment.

 

Digital Domain

 

24-DIGI-thumbStandard.jpg

‘Exergames’ Don’t Cure Young Couch Potatoes

 

By RANDALL STROSS

 

Researchers found no evidence that children who received active video games were more active than children who received games that were more passive.

 

The Boss

 

24-BOSS-thumbStandard.jpg

Lessons of Early Hardship

 

By STUART K. MATHIS

 

The president of the franchise store division of United Parcel Service says one lesson he learned early was to give people a chance.

 

Preoccupations

 

24-PRE-thumbStandard.jpg

Letting the Mission Govern a Company

 

By DOV SEIDMAN

 

LRN, which works with companies to strengthen their cultures and improve performance, made a change of its own three years ago to become a self-governing company.

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites

Is His Name Adolf?

One man that can "save Europe" eh? Where have I heard this before?

With the EU’s politicians unable or unwilling to act, everything depends on the
European Central Bank
and its chief,
Mario Draghi
.

That may sound familiar. Once the fiscal stimulus of 2009 had passed, the
U.S. Congress
and administration fought to a draw, leaving the economy’s prospects in the hands of the
Federal Reserve
. With the recovery again losing momentum and U.S. politics stalemated, many investors expect that the Fed will soon announce a third round of quantitative easing, where the central bank buys bonds to drive down long-term
interest rates
. It is unorthodox, controversial and necessary. The government can’t act, so the Fed has to.

It's controversial because when this nation was founded and we understood what "the rule of law" meant, intentional debasement of the nation's currency was an offense punishable by death.

Really.

Go look up "The Coinage Act."

 

More at the link.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Breaking news

 

 

 

 

 

Also talked about "regional" benefits if we are going down that road we need regional interest rates.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

World stocks fall amid concern over European summit

 

25 June 2012 11:35 AM

World stocks fell sharply today amid concern that a critical European summit later this week will not yield a deal that might restore confidence in the future of the 17-country euro currency.

 

 

 

Lords to scrutinise 'rushed and defective' banking Bill

 

25 June 2012 08:00 AM

Reform meant to prevent another crisis may make Bank too powerful, say critics

 

 

 

Business lending plan fails to cut rates

 

25 June 2012 12:00 AM

The Government's flagship small business lending scheme failed to bring about any significant reduction in the cost of borrowing for SMEs, new figures reveal.

 

 

 

Supermarket giants to slash fuel prices

 

25 June 2012 12:59 PM

Supermarket Asda is cutting the price of petrol.

 

 

 

Troubled shops mount summer sales

 

25 June 2012 08:16 AM

Nearly three-quarters of shops put on sales in recent days as gloomy weather compounded the misery on the high street.

 

 

 

natwest.jpg

'Corner turned' on Natwest backlog

 

25 June 2012 04:02 PM

The boss of taxpayer-backed NatWest today reassured customers that “a corner has been turned” as it wades through a backlog of transactions following an IT meltdown.

 

 

 

Red tape threatens GE Hitachi's nuclear bid

 

25 June 2012 12:00 AM

The US-Japanese joint venture bidding to build nuclear power plants in the UK could struggle to rush its reactor designs through Britain's notoriously lengthy licensing process.

 

 

 

Storm brews for superyacht company YCO

 

25 June 2012 12:00 AM

Plans to take private a listed super-yacht company favoured by the likes of Roman Abramovich and Sir Philip Green could be voted down at its annual general meeting today.

 

 

 

New finance chief to check in to online grocer Ocado

 

25 June 2012 12:00 AM

The online grocer Ocado is set to appoint retail industry veteran Duncan Tatton-Brown as its new finance director this week, after the post has been empty for more than six months.

 

 

 

Rising land values cause looming crisis over succession in agriculture

 

25 June 2012 12:00 AM

Britain's agriculture industry is sitting on a ticking timebomb due to a lack of succession plans and rising farm land values.

 

 

 

Business lending plan fails to cut rates

 

25 June 2012 12:00 AM

The Government's flagship small business lending scheme failed to bring about any significant reduction in the cost of borrowing for SMEs, new figures reveal.

 

 

 

Storm brews for superyacht company YCO

 

25 June 2012 12:00 AM

Plans to take private a listed super-yacht company favoured by the likes of Roman Abramovich and Sir Philip Green could be voted down at its annual general meeting today.

 

 

 

Red tape threatens GE Hitachi's nuclear bid

 

25 June 2012 12:00 AM

The US-Japanese joint venture bidding to build nuclear power plants in the UK could struggle to rush its reactor designs through Britain's notoriously lengthy licensing process.

 

 

 

Rising land values cause looming crisis over succession in agriculture

 

25 June 2012 12:00 AM

Britain's agriculture industry is sitting on a ticking timebomb due to a lack of succession plans and rising farm land values.

 

 

 

New finance chief to check in to online grocer Ocado

 

25 June 2012 12:00 AM

The online grocer Ocado is set to appoint retail industry veteran Duncan Tatton-Brown as its new finance director this week, after the post has been empty for more than six months.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

25 June 2012 Last updated at 18:25

 

 

Cyprus to ask for bailout help_61134800_cyprus_getty.jpg

 

Cyprus confirms that it will ask eurozone partners for a bailout to try to help shore up its banks, which are heavily exposed to Greece.

 

 

_61116488_015131146-1.jpgRBS boss blames software upgrade

 

The boss of RBS tells the BBC that a software change was responsible for the widespread computer problems affecting millions of customers' bank accounts.

 

 

 

_61111342_014125999-1.jpgUnite amasses £25m strike fund

 

The Unite union has amassed a £25m strike fund to support workers involved in future industrial action.

 

 

 

Eurozone in crisis

 

 

 

 

 

 

Other top stories

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

[/url]

 

Debt crisis: Markets slide as Spain's banks face downgrade

 

euro-spain_2052559g.jpg

Global markets tumble ahead of this week's EU summit as Moody's plans to downgrade Spain's banks on the same day that the country's government makes a formal request for a bailout.

586 Comments

Debt crisis: France must find €10bn of savings

 

 

Cyprus asks Europe for a bailout

 

 

Germany to Greece: stop asking for help and start cutting budgets

 

 

 

 

City says RBS 'glitch' could cost up to £100m

 

RBS_2154436g.jpg

Analysts estimate RBS is facing a bill of between £50m and £100m as a result of the technical glitch that has hit its computer systems in the last week.

36 Comments

NatWest glitch 'like motorway accident'

 

 

RBS glitch 'well on the way' to being fixed, says chief

 

 

 

Xstrata boss could resign to save Glencore deal

 

mick-davis_2213795g.jpg

Xstrata chief Mick Davis may have to step down in an effort to rescue the miner’s deal with commodity giant Glencore in the wake of a furious row over pay, a leading shareholder warned.

4 Comments

 

Microsoft buys Yammer for $1.2bn

 

microsoft_2247929g.jpg

Microsoft has snapped-up internet start-up Yammer, which enables businesses to create their own private social networks, in a $1.2bn (£770m) cash deal.

Comment

Nokia hit by Microsoft plans

 

 

 

Aviation industry calls for action

 

heathrow_2234816g.jpg

Willie Walsh, the boss of British Airways’ parent company, has warned he will snub a government review on aviation if it does not include a third runway at Heathrow.

13 Comments

Gatwick eyes investment as traffic climbs

 

 

 

New Look shuts shops as profits fall

 

 

 

 

Morrisons finance director to quit, shares fall

 

 

 

 

BoE money printing puts UK economy at risk

 

 

 

 

Sir Stelios Haji-Ioannou admits libel

 

 

 

 

Billabong surfwear shares crash

 

Greek finance minister quits following ill health

 

rapanos_2258520f.jpg

Newly appointed finance minister resigns before being sworn in.

 

Europe needs its own JOBS Act

 

All the bail-out systems under the sun cannot make the eurozone work

 

Debt crisis: France must find €10bn of savings

 

 

 

Anglo-Scot 'sterlingzone' must cut both ways - EU official

 

 

 

 

What is quantitative easing?

 

North could see unemployment benefits cut

 

Unemployed could receive less money if they live outside south-east of England under regional benefits plans.

David Cameron's welfare speech in full

 

 

Sketch: David Cameron hands out the Ovaltine

 

 

Cameron's welfare speech: radical, yes, but it's all about politics

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

In Documents on Pain Drug, Signs of Doubt and Deception

 

By KATIE THOMAS

 

 

Documents in a fraud case against Pfizer suggest that research officials were less than forthcoming about the safety of the arthritis drug Celebrex during an early trial study.

 

 

 

 

jp-celebrex-1-sfSpan.jpg

Michael McElroy for The New York Times

 

Dr. Steven Nissen is overseeing a trial on Celebrex that is scheduled for completion in 2014, the year the drug’s patent expires. He dismisses any claim that Pfizer has delayed the study.

 

 

 

 

 

 

 

 

European Debt Crisis

 

Cyprus Seeks Bailout From Euro Zone Partners

 

By NIKI KITSANTONIS, STEPHEN CASTLE and RAPHAEL MINDER 2 minutes ago

 

The government said it was struggling to contain risks due to its exposure in the Greek economy. Stocks and the euro fell across Europe as pessimism reigned about a European summit this week.

 

 

Bankers Call for Wider Measures to Stem Crisis

 

By JACK EWING

 

FRANKFURT — An organization that serves as an umbrella for the world’s largest central banks warned that they could not cope with the euro zone crisis alone.

 

 

 

Other Business News

 

DealBook

 

Microsoft to Buy Yammer for $1.2 Billion

 

By EVELYN M. RUSLI and NICK WINGFIELD 7 minutes ago

 

Microsoft will buy the social network service for $1.2 billion in cash, as it seeks to strengthen its enterprise software business.

 

DealBook

 

Quest Receives Fresh Offer of $2.3 Billion From Strategic Bidder

 

By MICHAEL J. DE LA MERCED

 

The new bid of $27.50 a share tops a bid from Insight Venture Partners and Vector Capital that Quest accepted last week.

 

FDA Delays Decision on Pfizer, Bristol-Myers Drug

 

By THE ASSOCIATED PRESS 1:21 PM ET

 

Shares of Pfizer Inc. and Bristol-Myers Squibb Co. fell Monday after federal regulators unexpectedly delayed for a second time a decision on whether to approve the companies' highly anticipated experimental anticlotting drug Eliquis.

 

DealBook

 

Morgan Stanley to Expand Access to Social Media

 

By WILLIAM ALDEN

 

The firm plans to give the roughly 17,000 financial advisers at Morgan Stanley Smith Barney partial access to Twitter and LinkedIn over the next several months, stepping up its social media presence after a yearlong trial with a group of 600 employees.

 

Wall Street Drops on Euro Pessimism

 

By REUTERS

 

Market indexes in the United States fell sharply as expectations dimmed that a European Union summit meeting this week would help calm the escalating euro zone debt crisis.

 

 

DealBook

 

Pondering a Breakup of the BlackBerry Maker

 

By IAN AUSTEN

 

Despite a report that Research in Motion is considering breaking off its handset business or selling a significant stake in the company, a deal would have to overcome significant hurdles.

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Cyprus joins bailout queue as EU summit doubts grow

 

7:29pm BST

NICOSIA/MADRID - Cyprus said on Monday it would seek a European bailout to handle fallout from the Greek crisis, becoming the fifth euro zone country needing rescue funds hours after Spain formally requested help for its banks.

RBS could face 100 million pounds bill or more after IT failure

 

Stocks close at two-week low, more weakness eyed

 

LONDON - The FTSE 100 closed at its lowest level in nearly two weeks on Monday, and looked poised for more falls, hit by global growth concerns and fading expectations of any near-term radical measures to resolve the euro zone crisis.

 

Futures exchanges gear up for regulatory reforms

 

LONDON - Plans by the world's futures exchanges to shake off weak trading activity by tapping reforms to open up a lucrative new market in European swaps clearing tops the agenda as the futures industry meets in London this week.

6:51pm BST

 

Analysis: Money's retreat home threatens globalisation

 

LONDON - The European banking shock and its aftermath have sent finance and investment running for home, a process that could hurt world growth, globalisation and developing economies for years to come.

6:25pm BST

 

Super tanker sea storage looms as oil prices fall

 

LONDON - Speculators could soon be hoarding crude oil in super tankers off the coast of Britain and other European countries if prompt oil prices keep falling, shipping and oil industry executives say.

5:21pm BST

 

Spain requests bank aid, awaits Moody's cut

 

MADRID - Spain formally requested European aid for its indebted banks on Monday but the lack of details rekindled investor doubts over the financial sector, hours before Moody's was expected to cut the ratings of all Spanish lenders.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

The Jester Has A **Problem**

 

I really hope you're paying attention here folks....

First up this morning is this "glitch":

is facing calls to make payments as soon as possible to customers affected by its long-running computer crisis, as it admitted NatWest branches would again be opened for extended hours on Monday.

Uh huh. There isn't a wee funding problem involved here, is there? I mean, nobody would ever lie about what's going on at a bank, would they? That would be flatly unacceptable.

 

More at the link, although I don't buy some of what's said here.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

BIS Has Woken Up?

 

I must be dreaming....

“Central banks are being cornered into prolonging monetary stimulus as governments drag their feet and adjustment is delayed,” the Basel, Switzerland-based BIS said in its annual report, published today. “Both conventionally and unconventionally accommodative monetary policies are palliatives and have their limits.”

Palliatives eh? If you use big words most people won't get what you said? rofl2.gif

Central bank policy “buys time” in the short term for banks and governments to tackle debt overhangs, the BIS said. European finance ministers meeting in
Luxembourg
last week battled over strategies to contain the debt crisis. Leaders are due to hold a summit on June 28-29, which will be their 19th since the turmoil erupted.

But there has been no "tackling" of debt overhangs.

 

More at the link.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

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