“When I give food to the poor, they call me a saint. When I ask why they are poor, they call me a communist.” Dom Hélder Pessoa Câmara, Archbishop of Olinda and Recife, also known as the ‘Bishop of Corum’
- “Negotiations on forming a new Greek government have ended after an hour but will resume on Tuesday. Three previous attempts to form a government have failed. If the parties cannot agree on a coalition, new elections must take place next month.”
- “Financial markets are hastily making preparations for a Greek exit from the euro after a day of political and economic turmoil ended with Europe’s policy elite admitting for the first time that it may prove impossible to keep the single currency intact.”
- “All eyes will be on Berlin this afternoon, as Angela Merkel and François Hollande meet for the first time with the ostensible goal of thrashing out their differences over the solution to the eurozone’s problems. The meeting is billed as a showdown between the fundamentally opposing world views of austerity and growth, the outcome of which might either save the single currency or hasten its demise. The reality, however, is both more prosaic and more alarming.”
- TRNN: “Corporate Media and the Austerity Campaign. Bill Black: Most media treats austerity as a necessary solution, not a means to enforce the interests of finance.”
- “Southern Europe is preparing for a summer of discontent as protesters of all ages, and from across the political spectrum, plan demonstrations against greater austerity measures and against those policymakers who say there is no alternative to cuts.”
- TRNN: “Spain’s ‘Indignados’ Mobilize Against Austerity. With the highest unemployment rate in Europe, the Spanish people take to the streets in Madrid and elsewhere to mark one year since the massive demonstrations that caused ripples around the world. They’re calling for a global revolution, but who will respond?”
- “Saudi Arabia and Bahrain discussed a political union at a meeting in Riyadh yesterday in a development that could see the tiny Gulf kingdom largely absorbed by its neighbour.”
- “Heartland Institute was cut off by three more corporate donors on Monday, further isolating the ultra-conservative thinktank from the mainstream business world.”
- “Israel agreed to relax significant elements of the strict regime for Palestinian prisoners yesterday in an 11th-hour deal which ended the mass hunger strike in its jails that began two-and-a-half months ago.”
- TRNN: “Two Billion Dollar Tip of Banking Iceberg. Gerald Epstein: J.P. Morgan debacle shows systemic risk unchanged; breaking up big banks, reform Fed and public banking urgently required.”
Richard Wolff’s weekly Economic Update. “Updates on NY Mayor Bloomberg’s veto of bill raising minimum wage, the economics of single-payer medical insurance, and major insurance companies’ withholding of death benefit payments.” And more.
The truth will set you free but first it will piss you off.