Bank Run in Spain and Its Destabilizing Ramifications for the Entire EU

'This is nothing but a sign of a run on Spanish banks. They can't get funding in the markets and there is a steady withdrawal of funds from the banks. For all practical purposes, the ECB is supporting the Spanish banking system with life support measures. This means that the ECB will have to drain funds from elsewhere in the system to sterilize this rescue operation. Without sterilization the effort becomes very inflationary, with sterilization the effort distorts the entire EU economy. It's all destabilizing.'

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EU Is Collapsing Like Tower Of Babel

Monument Securities Chief Economist Stephen Lewis says the chaos in Greece could lead to collapse of the European Union, bringing down with it the dangerous assumption that structures of global governance provide stability in times of financial peril, but the World Bank and IMF vultures will be waiting as ever to feed on the remains of a dying country.'

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Nationwide Strike Paralyzes Greece, Rioting Spreads to Spain

Central Athens echoed with the angry chants of tens of thousands of protesters demonstrating against the Socialist government's austerity measures, as major unions staged a 24-hour nationwide general strike.

The Wednesday march was marred by violence when a group of about 20 youths broke away from the march and started throwing Molotov cocktails and heavy objects at police, damaging bus stops in Athens' Syntagma Square, where the Greek parliament is located.'

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Spanish Discontent as Soup Kitchens Spring Up

Faced with losing his home if he cannot find €6,000 (£5,350) by the end of this week, Javier Martínez has resorted to desperate measures: the unemployed father-of-four is selling his own flat and throwing in another, free.

The three-bedroom apartment in Tarazona, near Zaragoza in eastern Spain, is on the market for only €57,000. The former construction project manager is including a one-bedroom flat that he had been letting in an attempt to entice a buyer.

“I need to find the cash by May 15 or I may be declared bankrupt. I must provide for my children,” Mr Martínez said. He is one of hundreds of thousands of Spaniards facing ruin as Spain's economy heads for meltdown.

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Obama Protecting Bush from Spain?

The official story is that Spain has decided not to prosecute Bush's torture lawyers. Yet the known facts suggest something else entirely.

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Spain: Don’t Succumb To Israeli Pressure

The Israeli government has been quietly pressing (and pressuring) Spain to reconsider issuing warrants for the arrest of high-ranking Israeli army officers accused of committing war crimes in the occupied Palestinian territories.
Earlier this year, a lawsuit was filed at the National court of Spain with the aim of issuing an arrest warrant against seven Israeli military officials.
The seven included former Prime Minister Ariel Sharon, former Defense Minister Benyamin Benalizer, former Shin Beth Chief Avi Dichter, former Chief of Staff Moshe Ya’alon, former Air Force Commander Dan Halutz, Operation Branch Commander Giora Eiland and Southern Command Chief Doron Almog.

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