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money has moved in the global economy with a 'bailout' of Spain and
the Pavlovian markets respond accordingly. Today it is all optimism -
how long before the markets swing back to panic? - RW
Breaking
News
Global
economy
Spain has become the fourth and by far the largest eurozone
nation to seek an international bailout, with financial leaders
from the currency bloc declaring a deal that could inject as much
as €100 billion ($126 billion) into its ailing banks
SPAIN'S
deep economic misery will get worse this year despite the country's
request for a European financial lifeline of up to 100 billion euros
($A127.76 billion) to save its banks, Prime Minister Mariano
Rajoy says.
Euro
zone finance ministers have rushed Spain into an EU-funded rescue for
its debt-stricken banks to pre-empt the threat of a bank run if
Greece's debt crisis flares again but any respite for Madrid and
the euro may be short-lived.
Pavlovian
markets - that hits the spot! - RW
Airline
Death Spiral
Prey
needs more than a prayer (Qantas)
With
a market value of $2.1 billion, cash in the bank of more than $3
billion and a business that is worth more dead than alive, Qantas
has gone from being an aviation predator to prey.
Military/intelligence
The
Afghan president’s office said the security accord with the US is
at risk after Wednesday’s airstrike that killed 18 villagers. The
pact is a key part of the withdrawal plan for the NATO-led coalition
from the country.
Iran
says the world powers of the P5+1 group - the US, Britain
France, Russia, China, plus Germany - have failed to adhere to
the agreements made by both sides in the latest round of talks
in Baghdad.
Iran's
chief nuclear negotiator says faulty preparation may jeopardize the
new round of talks, set to open in Moscow on later this month.
Myanmar's
president declared a state of emergency in a western state where
sectarian tensions between Buddhists and Muslims have unleashed
deadly violence. He warned that if the situation spun out of
control, it could jeopardise the democratic reforms he has been
instituting since taking office last year
Syria
The
armed Syrian opposition has got their hands on chemical weapons,
which they acquired from Libya, a media report claims. They allegedly
plan to use it against civilians and pin the atrocity on the Bashar
al-Assad regime.
AN
INCREASINGLY effective Syrian rebel force has been gaining ground
in recent weeks, stepping up its attacks on government troops
and expanding the area under its control even as world attention
has been focused on pressuring Syrian President Bashar al-Assad
to comply with a UN ceasefire
New
Syrian National Council president, the Kurdish activist Abdulbaset
Sieda, reaches out to country's minority groups.
British
Foreign Secretary William Hague said that he couldn't rule out a
military intervention in Syria, saying the situation there was
beginning to resemble the violence that gripped Bosnia in the
1990s.
The
new leader of the main Syrian opposition umbrella group has
urged world powers to protect civilians from President
Bashar al-Assad's crackdown and take decisive action at the
United Nations that could be implemented by force.
Pro-regime
forces reportedly killed at least 83 Syrian civilians on Saturday,
with 17 dead in the flashpoint southern city of Daraa and 29 in
the central city of Homs.
Environment/disasters
Energy/resources
Europe
British
Chancellor George Osborne has said Britain’s economic recovery
is being “killed off” by the crisis in eurozone while
British press has already accused him of blaming the country’s
ailing economy on eurozone.
USA
Australia/NZ
Economists
fail the reality test, again
The
nation's economists, commentators and business people got caught
with their pants down last week. They'd convinced themselves the
economy was weak, but the Bureau of Statistics produced figures
showing it was remarkably strong.
They
all got it wrong! it was a bad dream! We can all go back to sleep.
Turn off the light. --RW
Kiwi
surges on Spanish bailout, China data
The
New Zealand dollar surged over a cent against the greenback, after
Spain called for €100 billion bailout and Chinese exports rose
at twice the pace expected by economists in May
The
NZ dollar is up one cent - what a surge! - RW
Thousands
of Western Australian homes could be without power for days
as workers race to neutralise deadly fallen power lines in
the wake of violent weather.
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