Fresh austerity plans have been announced by Spain’s Prime Minister Mariano Rajoy. The measures include the increase of VAT tax from a previous 18% to 21%, cutting benefits for new job less applicant, as well as a salary cut of 7% for state employees. The goal is to sut Madrid’ budget deficit by 65 billion euros, which is roughly 79.61 billion dollars by year 2015. The European Commission welcomed the new measures, but the markets are less optimistic, saying the new measures could deepen Spains recession, which could ultimately force Spain into a full fledged bail out situation. It is not a great solution for Spain’s people, but unfortunately it seems, there was no other alternative at this point, to avoid full bankruptcy.
What goes around, comes around, Paolo Pellegrini helped John Paulson to become a billionaire, John Paulson helped Paolo Pellegrini become a billionaire. Not quite. In fact in turns out that John Paulson just claimed his former employee, as another victim of his hedgefund’s ever decreasing profits. Rumor has it Mr. Pelligrini invested anything between 10 to 20 million dollars of his personal money, and that Paulson’s Fund Advantage Plus, is now down by more than 16%, due to some misplaced bets in the Gold market. Pelligrini seems disappointed, but also understanding of the unpredictability the market are currently displaying. Good for you Paolo.
And from Russia with Love and most recently also paranoia, we hear that President Putin is thinking of ever more creative ways of squashing his opposition, and turning his supporters into blind followers. Why not create our own version of the “Great Chinese Firewall”, to block bad publicity in form of major dissent against his sham presidency?! A great idea, to which the Russian version of Wikipedia said, thank you but no thank you, closing down the site yesterday for a one day protest. Putin says it’s only a measure to protect children from harmful sites, yeah right. The Oppositions claims, that this new law could potentially close down Facebook and Twitter, blocking the opposition’s movement and infringing even more on media freedom. Not to be sarcastic or anything, but it is kinda fun to see what else Putin will come up with over the years…until someone will hopefully lead Russia out of this mess…
Fresh austerity plans have been announced by Spain’s Prime Minister Mariano Rajoy. The measures include the increase of VAT tax from a previous 18% to 21%, cutting benefits for new job less applicant, as well as a salary cut of 7% for state employees. The goal is to sut Madrid’ budget deficit by 65 billion euros, which is roughly 79.61 billion dollars by year 2015. The European Commission welcomed the new measures, but the markets are less optimistic, saying the new measures could deepen Spains recession, which could ultimately force Spain into a full fledged bail out situation. It is not a great solution for Spain’s people, but unfortunately it seems, there was no other alternative at this point, to avoid full bankruptcy.
What goes around, comes around, Paolo Pellegrini helped John Paulson to become a billionaire, John Paulson helped Paolo Pellegrini become a billionaire. Not quite. In fact in turns out that John Paulson just claimed his former employee, as another victim of his hedgefund’s ever decreasing profits. Rumor has it Mr. Pelligrini invested anything between 10 to 20 million dollars of his personal money, and that Paulson’s Fund Advantage Plus, is now down by more than 16%, due to some misplaced bets in the Gold market. Pelligrini seems disappointed, but also understanding of the unpredictability the market are currently displaying. Good for you Paolo.
And from Russia with Love and most recently also paranoia, we hear that President Putin is thinking of ever more creative ways of squashing his opposition, and turning his supporters into blind followers. Why not create our own version of the “Great Chinese Firewall”, to block bad publicity in form of major dissent against his sham presidency?! A great idea, to which the Russian version of Wikipedia said, thank you but no thank you, closing down the site yesterday for a one day protest. Putin says it’s only a measure to protect children from harmful sites, yeah right. The Oppositions claims, that this new law could potentially close down Facebook and Twitter, blocking the opposition’s movement and infringing even more on media freedom. Not to be sarcastic or anything, but it is kinda fun to see what else Putin will come up with over the years…until someone will hopefully lead Russia out of this mess…