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Puerto Rican debt holders respond to catastrophic hurricane by offering Puerto Rico more debt

Puerto Rico, facing absolute devastation after Hurricane Maria barreled through last week, desperately needs immediate funding to restore critical infrastructure, particularly its hobbled electric grid. The entire island — home to over 3.5 million American citizens, roughly equivalent to the state of Connecticut — lost power, and satellite imagery shows how little electricity has come back. This affects not only electricity and telecommunications service but access to clean water, as many pumping stations run on the same grid. A group of bondholders, who own a portion of Puerto Rico’s massive $72 billion debt, has proposed what they are calling relief — but in the form of a loan. So they’re offering a territory mired in debt the chance to take on more debt. The announcement came after The Intercept spent two days reaching out to 51 of Puerto Rico’s known creditors, asking them if they would support a moratorium or cancellation of debt payments for the island,

Greece could leave the EU: why the Grexit option deserves consideration

With the Greek psyche itself the victim of a relentless shaming campaign, the idea of Greece “going it alone” begins to seem outlandish and quixotic. It is not. But it is as much tied to a revival of spirit and self-esteem as to the nuts and bolts of economic transformation. by Michael Nevradakis Part 4 - Varoufakis: more blatant lies and pro-EU propaganda When concealing inconvenient public opinion survey results isn’t enough, more blatant lies are employed. A characteristic example comes from the statements made by former finance minister and “heroic” celebrity economist Yanis Varoufakis, who in an interview with ABC Radio in Australia in 2015 stated that even if Greece wanted to return to a domestic currency, its printing presses were destroyed in 2000 prior to joining the eurozone. In reality, Greece’s mint is still in operation in the Athens suburb of Holargos and prints euro banknotes today. In the minds of many Greeks, the old drachma is also associated

Η Αριστερά και η Βενεζουέλα

του Κλάουντιο Κατς Μέρος 8ο - Ψευτοεκλογές Στο άμεσο μέλλον, δύο είναι οι πιθανές πολιτικές επιλογές: η Δεξιά απαιτεί να διεξαχθούν γενικές εκλογές και η κυβέρνηση έχει προκηρύξει εκλογές για Συντακτική Συνέλευση [το άρθρο είναι γραμμένο πριν από τις εκλογές για τη Συντακτική Συνέλευση οι οποίες διεξήχθησαν ομαλά -- η αντιπολίτευση δεν συμμετείχε και κατέφυγε σε ένα άτυπο δημοψήφισμα μια εβδομάδα πριν, χωρίς σοβαρά πολιτικά αποτελέσματα και με πλήθος καταγγελιών για νοθεία, βλ. http://prensa-rebelde.blogspot.gr/2017/07/blog-post_6.html σ.τ.μ.]. Η αντιπολίτευση θέλει να συμμετάσχει σε εκλογές το αποτέλεσμα των οποίων θα το έχει εξασφαλίσει εκ των προτέρων. Από τις 19 εκλογικές αναμετρήσεις που έγιναν υπό τις μπολιβαριανές κυβερνήσεις, τις 17 τις κέρδισε το κίνημα του τσαβισμού, ενώ αμέσως αναγνώρισε τις δύο τις οποίες έχασε. Αντιθέτως, η Δεξιά ουδέποτε αποδέχθηκε τα δυσμενή γι’ αυτήν εκλογικά αποτελέσματα. Πάντα ισχυριζόταν ότι έγινε νοθεία κάποιου είδους ή κατέφ

Jeremy Corbyn to end Thatcherian failed model

The Labour leader is expected to say the existing system has delivered a ‘brutal and less caring’ society Jeremy Corbyn will use his flagship conference speech to promise a “new common sense” model for British life that will overturn 30 years of liberal free market economics. The leader will set out policies to pull up the foundations of the existing model, in place since Margaret Thatcher reshaped Britain in the 1980s and adhered to by Labour until Mr Corbyn came to office. In particular, he will point to the Grenfell Tower disaster as a “tragic monument” to a model of government that has become “brutal and less caring” over the last three decades. In its place, he will propose a new system with an empowered state, nationalised utilities, billions in extra funding for health and education services, curbs on corporate excess and tax rises for the wealthiest. Mr Corbyn will then claim Labour is “ready for government” today and will demand Ther

Police to take over polling stations in Catalonia to thwart independence ballot

The Spanish government said on Tuesday regional police will take control of any voting booths before a Catalan referendum on independence this weekend which it deems illegal. For its part the Catalan regional government said the vote will go ahead and it sent out notifications to Catalans to man polling booths. The row has plunged the country into one its biggest political crises since the restoration of democracy four decades ago. “ Today we can affirm that there will be no effective referendum in Catalonia. All the referendum’s logistics have been dismantled, ” the Spanish government’s representative in Catalonia, Enric Millo, said on Tuesday. https://www.rt.com/news/line/

Erdogan threatens Iraqi Kurds with famine over referendum

Turkish President Recep Tayyip Erdogan has warned that Iraqi Kurds will “ not be able to find food ” if Ankara decides to halt the flow of trucks and oil into the region, adding that all military and economic sanctions are on the table. “ [They] will be left in the lurch when we start imposing our sanctions, ” Erdogan said in a speech broadcast live on television on Tuesday, as quoted by Reuters. “ It will be over when we close the oil taps, all [their] revenues will vanish, and they will not be able to find food when our trucks stop going to northern Iraq. ” The Turkish president then warned that Israel’s support would be insufficient to sustain the Iraqi Kurds’ drive for independence and would not save them from international isolation. Erdogan added that Tel Aviv does not exercise sufficient leverage over the world community. “ Who will recognize your independence? Israel. The world is not about Israel. You should know that the waving of Israeli flags

Saudi King issues decree allowing women to drive

King Salman of Saudi Arabia has issued a decree ordering that women be allowed to drive, Saudi state media has reported. Under the conservative kingdom’s previous laws, women were banned from driving. The decree orders the Saudi interior minister to draft and adopt necessary amendments to the traffic regulations and to form a special commission consisting of the ministers of interior, finance, labor and development to “study the necessary arrangements” needed for the implementation of the new rules, as reported by the state SPA news agency. The new rules are expected to come into force on June 24, 2018, according to the decree. The decree states that the move must "apply and adhere to the necessary Sharia standards,” adding that most members of the Council of Senior Religious Scholars had approved the new regulations. The US was quick to welcome the move with State Department spokeswoman Heather Nauert telling journalists Washington is “ happy ”

Greece could leave the EU: why the Grexit option deserves consideration

With the Greek psyche itself the victim of a relentless shaming campaign, the idea of Greece “going it alone” begins to seem outlandish and quixotic. It is not. But it is as much tied to a revival of spirit and self-esteem as to the nuts and bolts of economic transformation. by Michael Nevradakis Part 3 - Greece wants to stay in the eurozone and EU — or does it? One of the most prevalent and recurring myths to come out of crisis-stricken Greece is that despite the austerity measures and cuts that the Greek people have been faced with, the overwhelming majority wishes to remain in the EU “at all costs.” This exact wording has been used in numerous public opinion polls, such as one published on July 5, 2015, the day of the Greek referendum on whether to accept or reject a new troika-backed austerity proposal. According to this poll, conducted by polling firm GPO on behalf of one of Greece’s most notoriously pro-austerity TV stations, Mega Channel, 74.1 percent

Η Αριστερά και η Βενεζουέλα

του Κλάουντιο Κατς Μέρος 7ο - Απερίσκεπτος δογματισμός Διαχέεται επίσης μια συζήτηση που συγκλίνει με τη σοσιαλδημοκρατία χρησιμοποιώντας σεκταριστικά επιχειρήματα. Στην περίπτωση αυτή, η κυβέρνηση Μαδούρο απεικονίζεται ως διεφθαρμένη, υποτελής και προσαρμοστική, δηλαδή ως μια κυβέρνηση που σταθεροποιεί ένα δικτατορικό καθεστώς. Σε άλλες περιστάσεις, η ίδια απονομιμοποίηση περιγράφεται με πιο έμμεσες ή πιο εκλεπτυσμένες κατηγορίες (de facto πρόεδρος, βοναπαρτιστής αρχηγός). Όλες, όμως, οι παραλλαγές της συμπίπτουν ως προς ότι τονίζουν τη θεμελιώδη ευθύνη μιας αυταρχικής κυβέρνησης που διαλύει τη χώρα. Η εναρμόνιση ως προς αυτό το βασικό ζήτημα με την αφήγηση των ΜΜΕ είναι εντυπωσιακή. Το βασικό πρόβλημα, ωστόσο, δεν είναι η ρητορική, αλλά η πρακτική. Καθημερινά γίνονται πορείες της Δεξιάς και των οπαδών της κυβέρνησης. Οι πρωταθλητές της σοσιαλιστικής αυστηρότητας πρέπει να αναρωτηθούν: Σε ποια από τις δύο θα συμμετάσχουμε; Με ποιους θα ταυτιστούμε; Εάν πιστε

First reactions for the German election results as a perfect example of how the establishment exploits the rise of the far-right

by system failure First reactions for the results of the recent German elections showed how masterfully the neoliberal regime in Germany and Europe exploits the rise of the far-right. We do not underestimate the dangerous rise of the far-right in Germany (and elsewhere), yet it would be useful to identify the main purpose behind the alarming headlines in most of the mainstream media about this fact around Europe. The vast majority of the mainstream media (and even independent media), focused on the dangerous rise of the Alternative for Germany (AfD), the right-wing populist and eurosceptic political party in Germany. Indeed, the rise is really impressive and cannot be underestimated considering that in previous elections AfD had gained zero seats with only 4.7%. However, this is a perfect opportunity for the neoliberal establishment to exploit such a terrifying rise of the far-right at least in two ways: First, the far-right scary monster