After elections in Greece there is talk of elected parties to form coalitions to resist austerity measures pushed on them by the EU.  What does this mean for the whole EU and their attempts to deal with the economic failure?  I Germany going to try to get out of it all?

The leftist party Syriza is the one attempting to create a coalition willing to refuse austerity measures and the terms of the EU bail-out.  The ND party seems to have left of attempts at coalition.

Do you listen to the Current on CBC?  I woke up to that this morning and was given a rude awakening.  Awakening is good, but I like to keep it gentle.  This morning Anna Maria Tremonti was giving interviewee Rob McDonald a hard time.  He was speaking of Canada’s banks getting up to 114 Billion dollars in bailouts of sorts and how that this situation was so secretive.  He made note of how we should have known about this and we (as citizens) should not have been left in the dark.  But, Anna Maria was acting defensively.  She basically said something to the effect of  “but the banks didn’t default did they”.  Are all Canadians so blind?  How did we miss this crazy level of bank ‘assistance’ in Canada while we fear for the American economy.  This morning was a wake-up call to me.  I need to find a recording of The Currentfor Thursday, May 3, 2012 and re-listen to the interview.  More comments to come.  Maybe a letter to Tremonti.  Comments?

Apparently Canadian banks were given a 114 Billion dollar bail-out, cumulatively, by March 2009.  Why did I not hear about this?  Did you?  And I thought we were doing so well.  Anyone freakin’ out yet?  The financial ministry refers to this as “liquidity support”, not bail-out. 

And where did this support come from?  You’ll never guess.  The Bank of Canada (okay), The Federal Reserve (yikes), and the CMHC. 

At one point, RBC, Soctia Bank, and BMO received monies equal to or more than the value of their shares.  Ouch.

Global systemic crisis – The five devastating storms in summer 2012 at the heart of the world geopolitical swing

READ MORE

Redford vs. Smith- is there change in the air?  The PC have moved left to center leaving the Wildrose as the new old PCs. 

#bp