Today's Coming Crisis Movie

Thursday, November 17, 2011

Worldwide Protests As Euro Crisis Deepens - Merkel !! Does this still sound like everyone is behind the Euro? 17th Nov 2011

Protesters are preparing to vent fury at their economic plight in New York and Athens - as the euro debt crisis threatens to engulf Spain and France.

The cost of borrowing for Spain's government has soared to a dangerous new high.

Ten-year bond yields have risen to a record high of 6.8% - with 7% seen as the territory for a financial bailout.

The spread between French and German bonds is wider than ever, with concerns growing that France could lose its triple-A credit rating.

Investors have shied away from buying debt in countries seen as being in the eurozone firing line because of the potential risks associated with nations such as Italy, Spain and France.

Instead they have flocked to buy debt from Germany and the UK - seen as safe havens.

Greece has already had to change its government as it battles to introduce sweeping austerity measures in order to stay solvent and part of the eurozone.

Some 7,000 police officers have been sent on to the streets of Athens as the city braces for anti-austerity demonstrations arising from the annual November 17 march.

Today marks the 38th anniversary of the day in 1973 when military tanks quashed a student rebellion at the Athens Polytechnic.

Skirmishes traditionally mar the march, but authorities fear the threat of trouble this year is much more acute thanks to anger at the price being paid by ordinary workers for the country's economic mismanagement.

In New York, protesters and city officials expect thousands of demonstrators to pour into the Wall Street area from 7am (1200 GMT) to try to stop workers from getting to their desks in the financial district. Read More