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Thursday, 26 July 2012

The biggest fines in British maritime history were handed down to a group of Spanish fishermen on Thursday, for illegal fishing in UK waters.


Leo blog : Romanian fishermen are cleaning up their net from small dead fish
 Photograph: Robert Ghement/EPA

Some of the biggest fines in British maritime history were handed down to a group of Spanish fishermen on Thursday, for illegal fishing in UK waters.

Two companies owned by the Vidal family were fined £1.62m in total in a Truro court, after a two-day hearing, in which details emerged of falsified log books, failing to register the transfer of fish between vessels, false readings given for weighing fish at sea, and fiddling of fishing quotas.

Judge Graham Cottle said the family were guilty of "wholesale falsification of official documentation" that amounted to a "systematic, repeated and cynical abuse of the EU fishing quota system over a period of 18 months".

He said: "[This was a] flagrant, repeated and long term abuse of regulations. The fish targeted [hake] was at that time a species of fish on the verge if collapse and adherence to quotas was seen as crucial to the survival of the species."

The Spanish fishing vessels had been sailing under UK flags and were landing fish based on quotas given to British fishermen under the EU's common fisheries policy. Two vessels were involved, but the companies own several other large vessels, capable of industrial-scale fishing.

The offending fishermen, who admitted their guilt earlier this year, were not in court to hear him, having been given leave to return to Spain last night. The offences, dating from 2009 and 2010, relate to two companies, Hijos De Vidal Bandin SA and Sealskill Limited, both owned by the Vidal family. They were fined £925,000 on a confiscation order, plus £195,000 in costs, and an additional fine of £250,000 levied on each of the two companies. Two skippers who were acting under the family's instructions were fined £5,000 each.

Ariana Densham, oceans campaigner at Greenpeace, who was present for the trial and judgement, said that the fines, while welcome, did not go far enough. "This group of people should never be allowed near UK fishing quota again," she said. "The Vidal's right to fish should be removed completely."

She said the offences showed the vulnerability of the EU's fishing quota system to fraud. "The system that allowed this to happen needs to be fixed," she said. "This case is not a one off. It's a symptom of Europe's farcical fishing rules. The Vidals were permitted to fish under UK flags, using UK quota, and receive huge EU subsidies, with none of the proceeds ever feeding back into the UK economy. The system is skewed in favour of rich, powerful, industrial-scale fishing companies, when really it should be supporting low-impact, sustainable fishermen."

There are currently moves under way in Brussels by the fisheries commissioner, Maria Damanaki, to reform the EU's common fisheries policy. The proposed reforms – which include the ending of the wasteful practice of discarding healthy and edible fish at sea – have met stiff opposition, particularly from the French and Spanish fishing industries. Spain has the biggest fishing fleet in Europe and receives the lion's share of the subsidies available for fishing within the EU. A historic agreement was reached among member states last month on the proposals, but they must now pass the European parliament, which is expected to consider the proposals later this year.

Thursday, 19 July 2012

Invasion of the pickpockets

Britain is in the grip of a pickpocketing epidemic as Eastern European gangs descend on London ahead of the Olympic Games.

A surge in sneak street thefts means more than 1,700 people fall victim every day – an increase of nearly a fifth in only two years, according to official crime  figures released yesterday.

At the same time, police warned that professional gangs from Romania, Lithuania and even South America who operate in capitals across Europe are heading to Britain, intent on cashing in on unwitting tourists at London 2012.

How they do it: A member of the pickpocket gang approaches a BBC reporter investigating the rise in thefts ahead of the Olympics

How they do it: A member of the pickpocket gang approaches a BBC reporter investigating the rise in thefts ahead of the Olympics

Keeping him occupied: The man speaks to the victim on the pretense of needing directions while another gang member approaches from behind

Keeping him occupied: The man speaks to the victim on the pretense of needing directions while another gang member approaches from behind

A BBC investigation exposed the tactics used by Romanian thieves, who were previously operating in Barcelona, to dupe their victims.

The criminals boasted of their ‘one-second’ theft techniques which leave targets unaware that anything has happened until  it is too late. They can make £4,000 a week taking wallets, smartphones and laptop bags. The goods are then shipped back to Romania and sold on the black market.

 Scotland Yard has made more than 80 arrests already and warned thieves the capital will be a ‘hostile environment’ in the coming weeks.

The Met has even drafted in a team of Romanian police officers to deal with the problem and patrol in the West End of London and Westminster during the Games. They will not have arrest powers.

Distracted: An accomplice (left) then plays drunk so he can get close enough to the target to strike

Distracted: An accomplice (left) then plays drunk so he can get close enough to the target to strike

 

Sleight of hand: The 'drunk' man jostles around with the BBC reporter, making it harder for him to notice what is going on

Sleight of hand: The 'drunk' man jostles around with the BBC reporter, making it harder for him to notice what is going on

 

 

Rich pickings: The sneering thief walks away with the wallet from the unsuspecting victim

Rich pickings: The sneering thief walks away with the wallet from the unsuspecting victim

Teamwork: The thief quickly hands the wallet to another member of the gang, who spirits it away

Teamwork: The thief quickly hands the wallet to another member of the gang, who spirits it away

 

Mayor of London Boris Johnson said: ‘These Romanian officers will prove to be a huge asset in cracking down on certain criminal networks who are targeting tourists in central London.’

Official statistics released yesterday showed pickpocketing thefts rose 17 per cent in the past two years.

In 2011/12, a total of 625,000 people fell victim, the Crime Survey of England and Wales showed.

That is an increase of more than 102,000 since 2009/10.

The vast majority of the total are classified as ‘stealth thefts’, but in 83,000 cases the victims’ possessions were ‘snatched’.



Wednesday, 11 July 2012

Field Mice Overrun Farms in Central Germany

They may look small, but the plague of field mice is having a devastating effect in central Germany.Zoom
They may look small, but the plague of field mice is having a devastating effect in central Germany.

Millions of field mice are overrunning the central German states of Thuringia and Saxony-Anhalt, much to the concern of local farmers. The rodents are devastating food crops, cutting yields by up to 50 percent. Getting birds of prey to hunt the critters didn't help, and now farmers want to be allowed to use a banned rat poison.Under normal circumstances, you might think the 12-centimeter (5-inch) long field mouse looks innocent, or even cute. But farmers in the central German states of Thuringia and Saxony-Anhalt wouldn't agree at the moment. The furry rodents are currently wreaking havoc in the states, which are suffering the worst field mouse plague in over 30 years.

 

Farmers in Thuringia and Saxony-Anhalt are complaining that millions of field mice are devastating their food crops, including corn, barley and winter wheat. "They are eating everything," said Matthias Krieg, who manages an agricultural firm near the town of Zeitz in Saxony-Anhalt. "Not even the sugar beets are safe." Farmers estimate that they may have to write off an average of 10 percent of their crops as a result of mouse damage, and up to 50 percent in extreme cases.

 

Farmers already noticed an increase in the field mouse population in 2011 and began to take counter measures. According to Reinhard Kopp, a spokesman for the Thuringian Farmers' Association, agriculturalists set up hundreds of perches in their fields to lure birds of prey to kill the mice. But the operation was only moderately successful. "The birds got so fat from eating all the mice that they almost couldn't fly any more," Kopp said. "But they still couldn't keep up."

Farmers in Thuringia and Saxony-Anhalt say that other measures used to control pests -- such as placing poisoned bait at the entrances to their underground nests -- will not be sufficient either: The crops are now too tall to allow farmers to locate the nests.

Time for Tough Measures

 

Instead, agriculturalists want drastic action. They have requested permission to deploy a rat poison called Ratron. Farmers in Germany have been banned from using the poison on large areas since 2008. Ironically, it was the indiscriminate use of Ratron by farmers in Saxony-Anhalt that led the agency to ban it in the first place, after the poison killed wild geese and endangered European hamsters.

 

Whether or not their request will be granted remains to be seen. "The farmers have done everything that they can within the law," said Kopp. "Now we need more effective measures."

Not everyone is unhappy about the mouse plague, however. Birdwatchers are enjoying the increased sightings of rare owls hunting the rodents. "Normally the owl population in this region is next to nothing," said ornithologist Ubbo Mammen. "This is absolutely anomalous."

Friday, 6 July 2012

Bankers face the prospect of jail as Serious Fraud Office launches criminal probe into interest-rate fixing at Barclays

Hearing: Former chief executive Bob Diamond left Barclays over the matter, before appearing before MPs this week

Hearing: Former chief executive Bob Diamond left Barclays over the matter, before appearing before MPs this week

A criminal investigation has been launched into alleged rigging of the Libor rate within the banking industry, the Serious Fraud Office (SFO) confirmed today.

SFO director David Green QC formally accepted the Libor issue for investigation after Barclays was fined by the Financial Services Authority (FSA) last week for manipulating the key interbank lending rate which affects mortgages and loans.

The claims ultimately led to the resignation of Barclays boss Bob Diamond and have become the focal point of a fierce political debate over ethics in the banking sector.

The investigation could ultimately lead to criminal prosecutions and bankers facing charges in court.

The SFO's update came after it revealed earlier this week that it had been working closely with the FSA during its investigation and would consider the potential for criminal prosecutions.

The Government department, which is responsible for investigating and prosecuting serious and complex fraud, said on Monday the issues surrounding Libor were "complex" and that assessing the evidence would take time.

Under fire: Barclays former chairman Marcus Agius (right) with former CEO Bob Diamond (centre), and former chief executive John Varley (left)

Under fire: Barclays former chairman Marcus Agius (right) with former CEO Bob Diamond (centre), and former chief executive John Varley (left)

As the SFO prepares its investigation, Labour leader Ed Miliband continued to push for an independent inquiry into the banking scandal despite MPs rejecting the demands.

The Labour leader said that while the party would cooperate with a parliamentary investigation, its remit was too "narrow" and a judge-led probe was still needed.

Mr Miliband also defended the conduct of Ed Balls after the shadow chancellor engaged in a bitter war of words with his opposite number George Osborne in the Commons.

 

 




Thursday, 5 July 2012

Diabetes drug makes brain cells grow

The widely used diabetes drug metformin comes with a rather unexpected and alluring side effect: it encourages the growth of new neurons in the brain. The study reported in the July 6th issue of Cell Stem Cell, a Cell Press publication, also finds that those neural effects of the drug also make mice smarter. See Also: Health & Medicine Brain Tumor Stem Cells Nervous System Mind & Brain Brain Injury Intelligence Neuroscience Strange Science Reference Neural development Stem cell treatments Diabetes mellitus type 2 Embryonic stem cell The discovery is an important step toward therapies that aim to repair the brain not by introducing new stem cells but rather by spurring those that are already present into action, says the study's lead author Freda Miller of the University of Toronto-affiliated Hospital for Sick Children. The fact that it's a drug that is so widely used and so safe makes the news all that much better. Earlier work by Miller's team highlighted a pathway known as aPKC-CBP for its essential role in telling neural stem cells where and when to differentiate into mature neurons. As it happened, others had found before them that the same pathway is important for the metabolic effects of the drug metformin, but in liver cells. "We put two and two together," Miller says. If metformin activates the CBP pathway in the liver, they thought, maybe it could also do that in neural stem cells of the brain to encourage brain repair. The new evidence lends support to that promising idea in both mouse brains and human cells. Mice taking metformin not only showed an increase in the birth of new neurons, but they were also better able to learn the location of a hidden platform in a standard maze test of spatial learning. While it remains to be seen whether the very popular diabetes drug might already be serving as a brain booster for those who are now taking it, there are already some early hints that it may have cognitive benefits for people with Alzheimer's disease. It had been thought those improvements were the result of better diabetes control, Miller says, but it now appears that metformin may improve Alzheimer's symptoms by enhancing brain repair. Miller says they now hope to test whether metformin might help repair the brains of those who have suffered brain injury due to trauma or radiation therapies for cancer.

Tuesday, 3 July 2012

Barclays boss Bob Diamond resigns

Barclays chief executive Bob Diamond has resigned with immediate effect. The move comes less than a week after the bank was fined a record amount for trying to manipulate inter-bank lending rates. Mr Diamond said he was stepping down because the external pressure on the bank risked "damaging the franchise". Chairman Marcus Agius, who said on Monday he was stepping down, will take over the running of Barclays until a replacement is found. "I am deeply disappointed that the impression created by the events announced last week about what Barclays and its people stand for could not be further from the truth," Mr Diamond said in a statement. He will still appear before MPs on the Treasury Committee to answer questions about the Libor affair on Wednesday. "I look forward to fulfilling my obligation to contribute to the Treasury Committee's enquiries related to the settlements that Barclays announced last week without my leadership in question," Mr Diamond said. Last week, regulators in the US and UK fined Barclays £290m ($450m) for attempting to rig Libor and Euribor, the interest rates at which banks lend to each other, which underpin trillions of pounds worth of financial transactions. Staff did this over a number of years, trying to raise them for profit and then, during the financial crisis, lowering them to hide the level to which Barclays was under financial stress. Prime Minister David Cameron has described the rigging of Libor rates as "a scandal". The Serious Fraud Office is also considering whether to bring criminal charges.

Wednesday, 27 June 2012

Animal-human hybrid stickers invading Parisian streets


Suriani-16.jpg

While marketing and mainstream communications campaigns have derived branding inspiration in the comic-like cartoon style of street art, and the values attached to its culture—freedom, community, transgression—the paradox still exists to see it framed and sold through traditional art channels.

Suriani-1.jpg

We caught up with street artist Rafael Suriani at his recent show, "Collages Urbains", at Cabinet d'amateur gallery in Paris, where he told us more about street art and his relationship with the medium.

Suriani-4.jpg

Suriani's mark features animals, surviving and thriving in the streets for its powerful and highly recognizable aesthetic. In his half-human-half-animal figures, the animal faces act as liberating masks, allowing the artist to express social criticism in an elegant way. The vibrant, seemingly playful creatures refrain from getting too serious and maintain a suggestive tone that avoids the obvious.

Suriani-8.jpg Suriani-3.jpg

The stickers are the result of a double-binding process that first assembles man and animal, then adheres the resulting figure to the wall. In the past, Suriani has drawn from his Latin-American heritage, playing with shamanic mythology figures such as toucan or jaguar. In his recent series, on the other hand, he is more interested in urban domestic animals such as cats and dogs—according to the artist, the convention that they tend to resemble their owners offers a metaphoric way to talk about us people. Recently Suriani made a series of French "Bulldogs" as a special dedication on London walls, using this breed to cartoon and make fun of some French characteristics. Each dog expresses a different state of mind—humor, spirituality, criticism or beauty.

Suriani-9.jpg Suriani-10.jpg

Suriani uses the rare technique of hand-painting every poster he sticks on the streets. Making each sticker is the result of a process involving selecting photos from the Internet, cutting them in Photoshop, then screening and painting before cutting the final product. Such repetition lies at the heart of street art practice, which is often based on plastering as many spots as possible, invasion-style.

Suriani-17.jpg

When considering the ephemeral fate of the piece of work destined for degradation of the elements, police destruction or theft from passers-by, the time and effort for such little reward seems remarkable. Suriani explains, however, that the fleeting nature of his work is freeing and allows him to be audacious with both subject and technique. To him, because there is no pressure or constraint, that achievement is rarely a failure.

Suriani-11.jpg

In the end, the piece of art is not the only sticker by itself, it is the sticker in its context, seen as a whole on the wall with the daylight shining on it, the motorbikes parked against it or the branch of a tree creeping across. Rarely is the work's time spent on the wall its only life, after all, with the rise of dedicated photographers immortalizing the scenes for the Internet.

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Suriani claims his intention to step into the city's landscape by bringing much-needed beauty comes with a positive message. Rather than being aggressive or controversial, Suriani takes pleasure in having people on the street enjoy his figures. His work is bound to the city—physically, geographically and socially—compelling the public to refresh their view of their surroundings and drawing their eyes to the places that typically go unnoticed. As an architect, Suriani has found a way to unveil the city and change people's perception of the scenes they see everyday without truly seeing them. The choice of venue is very important, based on aesthetic consideration with attention to the context and surroundings like the location.

EURO 2012 POSTERS BY DAVID WATSON

Euro 2012 Posters by David Watson

Euro 2012 recently began and, for those of you who don’t know, it’s the European football championship. European football is what we Americans call soccer, and it has slowly gained steam over the years, although still not as popular as American football…  Whether you’re into the championship or not (or even sports in general), you’ll probably love these simple, modern posters David Watson ofTrebleseven designed for it.

 Euro 2012 Posters by David Watson

Each poster represents a particular country that’s playing, and the colors of their flag are incorporated into one of the various circular designs. I love the typographic twist these posters have and how they don’t have blatant sports references in them.

Euro 2012 Posters by David Watson

Euro 2012 Posters by David Watson

Euro 2012 Posters by David Watson

Euro 2012 Posters by David Watson

Euro 2012 Posters by David Watson

Euro 2012 Posters by David Watson

Euro 2012 Posters by David Watson

Euro 2012 Posters by David Watson




AWARE2 gigapixel camera


'AWARE2' gigapixel camera by duke university
above: 3 increasing zoom levels of footage taken by the camera

 
engineers at duke university have developed a camera able to take photos with up to one billion pixels of resolution. 
the 'AWARE2' gigapixel camera uses 98 sensors each at 14 megapixels, capable of detecting detail from as far as 1 kilometer away.
the current model weighs in at approximately 100 pounds, and only shoots in black and white.

explore more of the super high-resolution photos on duke's site with these zoomable examples of a lake scene, building atrium and riverside town.

 


original image shot at .96 gigapixels; explore the full zoomable image here



the 'AWARE2' camera


camera processor render



making of 'AWARE2' gigapixel camera 

Friday, 22 June 2012

Entitled "Cock and Bull," this showpiece by British artist Damien Hirst towers above diners at Tramshed, which only serves chicken and steak.

DAMIEN HIRST

Entitled "Cock and Bull," this showpiece by British artist Damien Hirst towers above diners at Tramshed, which only serves chicken and steak.

Internationally renowned British artist Damien Hirst has created an art piece for a London restaurant in which a whole Hereford cow and cockerel are preserved in formaldehyde in a steel and glass tank, smack dab in the middle of the dining room.

Called "Cock and Bull," the showpiece towers above diners at Tramshed which -- surprise -- serves only steak and whole roasted chicken.

Like a giant aquarium mounted on a TV stand, the art installation is an extension of Hirst's Natural History, a collection of preserved animals he's been creating since 1991 -- arguably his most famous series. Hirst also created a painting for the restaurant opening entitled "Beef and Chicken" which hangs on the mezzanine level and depicts the 1990s cartoon characters "Cow and Chicken."

In the basement level, the Cock ‘n' Bull gallery showcases a rotating art exhibit every six weeks. The first exhibition Quantum Jumping features art work themed around "jumping into a parallel dimension," and runs until July 1.

The classically British menu by chef and restaurateur Mark Hix, meanwhile, is conducive to family-style dining with whole roasted, free-range chickens or marbled sirloin steaks, both served with fries. Appetizers include Yorkshire pudding with whipped chicken livers, cauliflower salad, and smoked Cornish mackerel with beets and horseradish.

It's not unusual for restaurants to house the collections of famous and interesting artists, given the synergy between food and ambiance. Pierre Gagnaire's eponymous restaurant, in Paris, for instance, houses works from the Galerie Lelong, while Wolfgang Puck has also turned his restaurant space into an exhibit for a roster of rotating artists at his CUT steakhouse in Los Angeles.

Meanwhile, restaurants like Eric Ripert's Le Bernardin in New York, Jason Atherton's Pollen Street Social in London and Jean-Georges Vongerichten's Spice Market in London have been shortlisted in the Restaurant & Bar Design Awards this year.



Drunken Irish fan in Poznan showed victory is all about reaching the little boys' room


Video: Drunken Irish fan in Poznan showed victory is all about reaching the little boys' room
today at 9:29 am

Everyone remembers the poor fella at the Limerick student race day back in March. who valiantly tried to get up that hill. Well here's his successor...

Drunken Irish men in Poland weren't exactly hard to come by over the past few weeks, but one managed to rekindle some of the magic of the Limerick student race day.

It's amazing how tough some of the most basic tasks become when you've had a skin-full... and then some. This Irish fan felt nature call and began his long, long trip to the portaloo in Poznan.

Of course as with everything at tournaments we get to, a chorus of cheers and support from other Irish fans soon begins. Thankfully one of the lads was sober enough to think of recording it.

It's difficult to watch and not think that reaching the toilet is some massive achievement - even if only for the integrity for the man's pants.

By far the best bit of the whole video is when he finally reaches the toilet (sorry if I ruined the suspense) and a look of delight crosses his face as he raises his fist into the air. At least there was some Irish success in Poland

Edward Burtynsky Photographs Farming in Monegros Spain


© Edward Burtynsky, courtesy Flowers, London Dryland Farming #13, Monegros County, Aragon, Spain, 2010

Canadian photographer Edward Burtynsky is having a London moment. Not only are his familiar works on the oil crisis on view but he is also exhibiting a new series examining the impact of long-term farming in Monegros, Spain.


© Edward Burtynsky, courtesy Flowers, London Dryland Farming #21, Monegros County, Aragon, Spain, 2010

These photographs are looking at the tradition of dryland farming carried out over many generations in the north-eastern part of Spain. It's an agricultural region where the land is semi-arid, sparsely populated and prone to both droughts and high winds. The land is made up of sedimentary rock, gypsum, and clay-rich soil. The photographs show the impact of these conditions, as well as man's expanding foot print.


© Edward Burtynsky, courtesy Flowers, London Dryland Farming #8, Monegros County, Aragon, Spain, 2010

Burtynsky is shooting the photos from a helicopter, two thousand feet up: so high that there are almost no details to be identified. The topography looks like an abstract painting.


© Edward Burtynsky, courtesy Flowers, London Dryland Farming #27, Monegros County, Aragon, Spain, 2010

Despite a scarcity of water, generations of farmers have continued to farm, so the photos are a contrast between nature's untamed forces and man's attempts to harness it. The cracks and crevices form writhing lines with deep earthy tones.


© Edward Burtynsky, courtesy Flowers, London Dryland Farming #31, Monegros County, Aragon, Spain, 2010

Tuesday, 19 June 2012

Assange seeks political asylum

On Tuesday night WikiLeaks founder Julian Assange applied for political asylum at the Ecuadorian Embassy in London after failing in his bid to avoid extradition to Sweden to face sex crime allegations. The 40-year-old Australian is currently inside the building in Knightsbridge, having gone there on Tuesday afternoon to request asylum under the United Nations Human Rights Declaration. The country's foreign minister Ricardo Patino told a press conference in the South American country that it was considering his request. In a short statement last night, Mr Assange said: "I can confirm that today I arrived at the Ecuadorian Embassy and sought diplomatic sanctuary and political asylum. This application has been passed to the Ministry of Foreign Affairs in the capital Quito. I am grateful to the Ecuadorian ambassador and the government of Ecuador for considering my application." The computer expert, who was on £200,000 bail after failing in several attempts to halt extradition, attracted several high-profile supporters including Ken Loach and socialite and charity fundraiser Jemima Khan, who each offered £20,000 as surety. Other supporters included Bianca Jagger and veteran left-winger Tony Benn. The Swedish authorities want him to answer accusations of raping a woman and sexually molesting and coercing another in Stockholm in August 2010 while on a visit to give a lecture. Assange, whose WikiLeaks website has published a mass of leaked diplomatic cables that embarrassed several governments and international businesses, says the sex was consensual and the allegations against him are politically motivated. The Supreme Court last month ruled in favour of a High Court ruling that his extradition was legal. Last week the Supreme Court refused an attempt by him to reopen his appeal against extradition, saying it was "without merit". He had until June 28 to ask European judges in Strasbourg to consider his case and postpone extradition on the basis that he has not had a fair hearing from the UK courts. A statement issued on behalf of the Ecuadorian Embassy said Mr Assange would remain at the embassy while his request was considered.

Thursday, 7 June 2012

Leave Britain out of new bank bailout

David Cameron threatened to veto support for a new European bank rescue deal yesterday as he clashed with Germany over fresh moves towards a single currency superstate. The Prime Minister vowed to put British interests first by not spending taxpayers’ money on propping up Greek and Spanish banks. On a visit to Berlin, Mr Cameron admitted eurozone countries will have to form a ‘bank union’ to pool their deposits if they want to prevent a European bank meltdown and save the single currency from destruction. But he said the UK would not join such a union and indicated he would wield the veto again unless Britain gets key concessions to protect the City of London and the single market. The PM repeatedly clashed with German Chancellor Angela Merkel on the future of Europe as she outlined plans for ‘more Europe’. Mr Cameron flew to Berlin for talks on the crisis as Spanish banks teetered on the edge of collapse. Fears of financial catastrophe in Spain intensified last night after the crisis-torn country was rocked by a devastating downgrade to its credit score. Leading international agency Fitch slashed its rating on Spanish government debt from A to BBB – leaving it one notch below bailed-out Ireland and just two above ‘junk’ status. It said the bill for bailing out Spain’s basket-case banks could hit £80billion – three times higher than previously thought and enough to trigger an international bailout.

Bank of England meets amid talk of £50bn stimulus

Bank of England policymakers meet today to decide whether to change interest rates or to pump in more money into the ailing economy, with leading economist saying they may opt to inject a further £50bn of stimulus.

Europe is on the verge of financial chaos.

Global capital markets, now the most powerful force on earth, are rapidly losing confidence in the financial coherence of the 17-nation euro zone. A market implosion there, like that triggered by Lehman Brothers collapse in 2008, may not be far off. Not only would that dismantle the euro zone, but it could also usher in another global economic slump: in effect, a second leg of the Great Recession, analogous to that of 1937. This risk is evident in the structure of global interest rates. At one level, U.S. Treasury bonds are now carrying the lowest yields in history, as gigantic sums of money seek a safe haven from this crisis. At another level, the weaker euro-zone countries, such as Spain and Italy, are paying stratospheric rates because investors are increasingly questioning their solvency. And there’s Greece, whose even higher rates signify its bankrupt condition. In addition, larger businesses and wealthy individuals are moving all of their cash and securities out of banks in these weakening countries. This undermines their financial systems. 423 Comments Weigh InCorrections? Personal Post The reason markets are battering the euro zone is that its hesitant leaders have not developed the tools for countering such pressures. The U.S. response to the 2008 credit market collapse is instructive. The Federal Reserve and Treasury took a series of huge and swift steps to avert a systemic meltdown. The Fed provided an astonishing $13 trillion of support for the credit system, including special facilities for money market funds, consumer finance, commercial paper and other sectors. Treasury implemented the $700 billion Troubled Assets Relief Program, which infused equity into countless banks to stabilize them. The euro-zone leaders have discussed implementing comparable rescue capabilities. But, as yet, they have not fully designed or structured them. Why they haven’t done this is mystifying. They’d better go on with it right now. Europe has entered this danger zone because monetary union — covering 17 very different nations with a single currency — works only if fiscal union, banking union and economic policy union accompany it. Otherwise, differences among the member-states in competitiveness, budget deficits, national debt and banking soundness can cause severe financial imbalances. This was widely discussed when the monetary treaty was forged in 1992, but such further integration has not occurred. How can Europe pull back from this brink? It needs to immediately install a series of emergency financial tools to prevent an implosion; and put forward a detailed, public plan to achieve full integration within six to 12 months. The required crisis tools are three: ●First, a larger and instantly available sovereign rescue fund that could temporarily finance Spain, Italy or others if those nations lose access to financing markets. Right now, the proposed European Stability Mechanism is too small and not ready for deployment. ●Second, a central mechanism to insure all deposits in euro-zone banks. National governments should provide such insurance to their own depositors first. But backup insurance is necessary to prevent a disastrous bank run, which is a serious risk today. ●Third, a unit like TARP, capable of injecting equity into shaky banks and forcing them to recapitalize. These are the equivalent of bridge financing to buy time for reform. Permanent stability will come only from full union across the board. And markets will support the simple currency structure only if they see a true plan for promptly achieving this. The 17 member-states must jointly put one forward. Both the rescue tools and the full integration plan require Germany, Europe’s strongest country, to put its balance sheet squarely behind the euro zone. That is an unpopular idea in Germany today, which is why Chancellor Angela Merkel has been dragging her feet. But Germany will suffer a severe economic blow if this single-currency experiment fails. A restored German mark would soar in value, like the Swiss franc, and damage German exports and employment. The time for Germany and all euro-zone members to get the emergency measures in place and commit to full integration is now. Global capital markets may not give them another month. The world needs these leaders to step up.

Monday, 4 June 2012

A Facebook crime every 40 minutes

A crime linked to Facebook  is reported to police every  40 minutes. Last year, officers logged 12,300 alleged offences involving the vastly popular social networking site. Facebook was referenced in investigations of murder, rape, child sex offences, assault, kidnap, death threats, witness intimidation and fraud.

Prince Philip in hospital

The Duke of Edinburgh has been taken to hospital with a bladder infection and will miss the rest of the Diamond Jubilee celebrations. Buckingham Palace said Prince Philip, 90, had been taken to the King Edward VII Hospital in London from Windsor Castle as a "precautionary measure". The Queen is still expected to join 12,000 others at the Jubilee concert which is under way at the palace. The prince will remain in hospital under observation for a few days. The prince had appeared to be in good health when he accompanied the Queen on Sunday on the royal barge the Spirit of Chartwell, which formed part of the rain-drenched Jubilee river pageant. He and the Queen stood for most of the 80-minute journey, as they were accompanied by 1,000 boats travelling seven miles down the river to Tower Bridge.

Luka Rocco Magnotta, the 'Canadian Psycho,' arrested in Berlin

Luka Rocco Magnotta was arrested in Berlin Monday after a four-day international manhunt that spanned three countries. The 29-year-old Canadian wanted over a horrific Montreal ice pick murder and decapitation of a Chinese student that he allegedly filmed and posted to the Internet, was arrested in or near an Internet cafe, Berlin police said. Montreal police confirmed they are aware of the reports that Magnotta was arrested, but said they are still in the process of contacting their Berlin counterparts. The arrest comes after French authorities said they were investigating a tip that Magnotta travelled from Paris to Berlin via bus on the weekend. “Somebody recognized him and (then) all the police recognized him,” Berlin police spokesperson Stefan Redlich told CP24 Monday. Handout (Click to enlarge) Magnotta's alleged victim is Lin Jun, a 33-year-old Concordia University student from Wuhan, Hubei, China. He was last seen on May 24, police said, and reported missing on May 29. Redlich said police were called in by a civilian who spotted Magnotta and he was arrested after police asked for his identification at about 2:00 p.m. local time in Berlin. Reuters is reporting it was an employee of the cafe, Kadir Anlayisli, that recognized Magnotta. The cafe is on Karl Marx Strasse, a busy shopping street filled with Turkish and Lebanese shops and cafes in the Neukoelln district of Berlin. German television quoted the owner of the cafe saying Magnotta was surfing the Internet for about an hour before his arrest. Redlich said Magnotta has been taken into custody without incident and will go in front of a judge Tuesday. Canadian officials are expected to start the extradition process for Magnotta in the near future.

Thursday, 31 May 2012

Rush for safe havens as euro fears rise

US benchmark borrowing costs plunged to levels last seen in 1946 and those for Germany and the UK hit all-time lows as investors took fright at what they see as a disjointed policy response to the debt crisis in Spain and Italy. In a striking sign of the flight to haven assets, German two-year bond yields fell to zero for the first time, below the equivalent rate for Japan, meaning investors are willing to lend to Berlin for no return. US 10-year yields fell as low as 1.62 per cent, a level last reached in March 1946, according to Global Financial Data. German benchmark yields reached 1.26 per cent while Denmark's came close to breaching the 1 per cent level, hitting 1.09 per cent. UK rates fell to 1.64 per cent, the lowest since records for benchmark borrowing costs began in 1703. "They are extreme levels because we are in an extremely perilous situation. People just want to put their money somewhere where they think they will get it back. People may soon be paying Germany or the US to look after their money," said Gary Jenkins, head of Swordfish Research, an independent credit analysis company. The flight to safety came as the situation in Italy and Spain, the eurozone's third- and fourth-largest economies, deteriorated further. Italy held a disappointing debt auction and saw its benchmark borrowing costs rise above 6 per cent for the first time since January. The euro fell 0.8 per cent against the dollar to under $1.24 for the first time in two years. Confusion over how the Spanish government's rescue of Bankia, the stricken lender, will be structured led the premium Madrid pays over Berlin to borrow to hit fresh highs for the euro era at 540 basis points. Analysts said the elevated level meant that clearing houses could soon raise the amount of margin, or collateral, that traders need to post against Spanish debt, a move that led to the escalation of crises in Portugal and Ireland. The European Central Bank has made clear to Spain that it cannot use the bank's liquidity operations as part of a recapitalision of Bankia. However, the central bank said on Wednesday it had not been officially consulted on the plans. Equity markets globally fell on the eurozone fears with bourses in Paris, Frankfurt and London all dropping 2 per cent. But Nick Gartside, international chief investment officer for JPMorgan Asset Management, noted that while US bond yields had halved since April last year the S&P 500 equity market was at the same level. "One of those two markets is mispriced. Core government bonds are an efficient market and they are ahead," he added. Investors said borrowing costs for the US, UK and Germany were likely to continue to fall amid a worsening economic backdrop and the threat of more central bank intervention. Wealth managers have been moving client assets into currency havens in recent weeks, with the Swiss franc and the US dollar among the biggest beneficiaries "Risk aversion, a rapidly slowing global economy and unusually low policy rates will pin these short and intermediate maturity bonds at unprecedented low levels for quite a while," said Mohamed El-Erian, chief executive of Pimco, one of the world's largest bond investors. Mr Gartside said he could easily see German rates going below 1 per cent, following a path that only Japan and Switzerland have taken among major economies, while the US and UK could dip under 1.5 per cent. Markets are increasingly resigned to more turmoil until policy makers take more radical action. The two most popular plans of action for investors are for the ECB to buy Spanish and Italian bonds in unlimited size or for eurozone countries to agree on a fiscal union involving the pooling of debt. "You have to throw everything at it. Spain is just too big for half measures. The next intervention has to be not just massive in size but it has to show a total commitment," said Mr Jenkins. He recommends that the ECB set targets either for the premium Spain and Italy pay to borrow over Germany or for their yields.

Euro break-up 'could wipe 50pc off London house prices'

Property prices in the capital’s most sought-after postcodes have been driven up by investors moving funds out of assets held in euros to buy into what is seen as a “safe haven” alternative. Foreign money seeking a refuge from the wider economic turmoil accounted for 60pc of acquisitions of prime central London property between 2007 and 2011, according to a report by Fathom Consulting for Development Securities. If the shared currency broke up completely, London property would initially be boosted by the continued flight towards a safe haven, the report predicts. But, once the break-up had taken place, demand for these assets as an insurance against this event would start to ebb. “Although fears about a messy end to the euro debt crisis may account for much of the gain in prime central London (PCL) prices that has taken place over the past two years, we find that a break-up of the single currency area is also the single greatest threat to PCL,” said researchers.

Sunday, 20 May 2012

Three killed in northern Italy earthquake

Three people have been killed in a 5.9-magnitude earthquake that struck northern Italy near Bologna, according to reports. The quake that struck at just after 4am local time was centred 21.75 miles north-northwest of Bologna at a relatively shallow depth of six miles, the US Geological Survey said. Italian news agency Ansa, citing emergency services, said two people were killed in Sant'Agostino di Ferrara when a ceramics factory collapsed. Another person was killed in Ponte Rodoni do Bondeno. In late January, A 5.4-magnitude quake shook northern Italy. Some office buildings in Milan were evacuated as a precaution and there were scattered reports of falling masonry and cracks in buildings. The tremor was one of the strongest to shake the region, seismologists said. Initial television footage indicated that older buildings had suffered damage. Roofs collapsed, church towers showed cracks and the bricks of some stone walls tumbled into the street during the quake. As dawn broke over the region, residents milled about the streets inspecting the damage. Italy's Sky TG24 showed images of the collapsed ceramics factory in Sant'Agostino di Ferrara where the two workers were reportedly killed. The structure, which appeared to be a hangar of sorts, had twisted metal supports jutting out at odd angles amid the mangled collapsed roof. The quake “was a strong one, and it lasted quite a long time”, said Emilio Bianco, receptionist at Modena's Canalgrande hotel, housed in an ornate 18th century palazzo. The hotel suffered no damage and Modena itself was spared, but guests spilled into the streets as soon as the quake hit, he said. Many people were still awake in the town since it was a “white night”, with shops and restaurants open all night. Museums were supposed to have remained open as well but closed following the bombing of a school in southern Italy that killed one person. The quake epicentre was between the towns of Finale Emilia, San Felice sul Panaro and Sermide, but was felt as far away as Tuscany and northern Alto Adige. The initial quake was followed about an hour later by a 5.1-magnitude aftershock, USGS said. And it was preceded by a 4.1-magnitude tremor. In late January, a 5.4-magnitude quake shook northern Italy. Some office buildings in Milan were evacuated as a precaution and there were scattered reports of falling masonry and cracks in buildings. In 2009, a devastating tremor killed more than 300 people in the central city of L'Aquila.

Thursday, 17 May 2012

'Queen of Disco' Donna Summer 'thought she became ill after inhaling 9/11 particles'

The 63-year-old singer, who had hits including Hot Stuff, Love to Love You, Baby and I Feel Love, died in Florida on Thursday morning. She had largely kept her battle with lung cancer out of the public eye. But the website TMZ reported that the singer had told friends she believed her illness was the result of inhaling toxic dust from the collapsed Twin Towers. On Thursday night tributes were paid to the singer, considered by many to be the voice of the 1970s. A statement released on behalf of her family — husband Bruce Sudano, their daughters Brooklyn and Amanda, her daughter, Mimi from a previous marriage and four grandchildren — read: “Early this morning, surrounded by family, we lost Donna Summer Sudano, a woman of many gifts, the greatest being her faith. "While we grieve her passing, we are at peace celebrating her extraordinary life and her continued legacy.

Investigators are questioning Mexico's former deputy defence minister and a top army general for suspected links to organised crime

49 BODIES FOUND IN A HIGHWAY NORTHERN MEXICO
Grafitti saying 'Z 100%', referring to the Los Zetas cartel, near to where 49 mutilated bodies were found in Northern Mexico. Photograph: Miguel Sierra/EPA

Investigators are questioning Mexico's former deputy defence minister and a top army general for suspected links to organised crime, in the highest level scandal to hit the military in the five-year-old drug war.

Mexican soldiers on Tuesday detained retired general Tomás Angeles Dauahare and general Roberto Dawe González and turned them over to the country's organised crime unit, military and government officials said.

Angeles Dauahare was number 2 in the armed forces under President Felipe Calderón and helped lead the government's crackdown on drug cartels after soldiers were deployed to the streets in late 2006. He retired in 2008.

Dawe González, still an active duty general, led an elite army unit in the western state of Colima and local media said he previously held posts in the violent states of Sinaloa and Chihuahua.

An official at the attorney general's office said they would be held for several days to give testimony and then could be called in front of a judge.

"The generals are answering questions because they are allegedly tied to organised crime," the official said.

Angeles Dauahare said through a lawyer that his detention was unjustified, daily Reforma newspaper reported.

If the generals were convicted of drug trafficking, it would mark the most serious case of military corruption during Calderón's administration.

"Traditionally the armed forces had a side role in the anti-drug fight, eradicating drug crops or stopping drug shipments," said Alejandro Hope, a security analyst who formerly worked in the government intelligence agency.

"After 2006, they were more directly involved in public security, putting them at a higher risk of contact [with drug gangs]," he said.

About 55,000 people have been killed in drug violence over the past five years as rival cartels fight each other and government forces.

Worsening drug-related attacks in major cities are eroding support for Calderón's conservative National Action Party, or PAN, ahead of a 1 July presidential vote.

Over the weekend, police found 49 headless bodies on a highway in northern Mexico, the latest in a recent series of brutal massacres where mutilated corpses have been hung from bridges or shoved in iceboxes.

Opinion polls show Calderón's party is trailing by double digits behind opposition candidate Enrique Peña Nieto from the Institutional Revolutionary Party, or PRI, which says the government's drug strategy is failing.

Traditionally, the military has been seen as less susceptible to cartel bribes and intimidation than badly paid local and state police forces, who are often easily swayed by drug gang pay offs.

But there have been cases of military corruption in the past. Angeles Dauahare himself oversaw the landmark trial of two generals convicted of working with drug gangs in 2002.

Those two generals were convicted of links to the Juárez cartel once headed by the late Amado Carrillo Fuentes, who was known as the Lord of the Skies for flying plane load of cocaine into the United States.

Since then, the Sinaloa cartel - headed by Mexico's most wanted man Joaquín "Shorty" Guzmán - has expanded its power and is locked in a bloody battle over smuggling routes with the Zetas gang, founded by deserters from the Mexican army.

Wednesday, 16 May 2012

JPMorgan's Trading Loss Is Said to Rise at Least 50%

The trading losses suffered by JPMorgan Chase have surged in recent days, surpassing the bank’s initial $2 billion estimate by at least $1 billion, according to people with knowledge of the losses. When Jamie Dimon, JPMorgan’s chief executive, announced the losses last Thursday, he indicated they could double within the next few quarters. But that process has been compressed into four trading days as hedge funds and other investors take advantage of JPMorgan’s distress, fueling faster deterioration in the underlying credit market positions held by the bank. A spokeswoman for the bank declined to comment, although Mr. Dimon has said the total paper trading losses will be volatile depending on day-to-day market fluctuations. The Federal Reserve is examining the scope of the growing losses and the original bet, along with whether JPMorgan’s chief investment office took risks that were inappropriate for a federally insured depository institution, according to several people with knowledge of the examination. They spoke on the condition of anonymity because the investigation is still under way. The overall health of the bank remains strong, even with the additional losses, and JPMorgan has been able to increase its stock dividend faster than its rivals because of stronger earnings and a more solid capital buffer. Still, the huge trading losses rocked Wall Street and reignited the debate over how tightly giant financial institutions should be regulated. Bank analysts say that while the bank’s stability is not threatened, if the losses continue to mount, the outlook for the bank’s dividend will grow uncertain. The bank’s leadership has discussed the impact of the losses on future earnings, although a dividend cut remains highly unlikely for now. In March, the company raised the quarterly dividend by 5 cents, to 30 cents, which will cost the bank about $190 million more this quarter. A spokeswoman for the bank said a dividend cut has not been discussed internally. At the bank’s annual meeting in Tampa, Fla., on Tuesday, Mr. Dimon did not definitively rule out cutting the dividend, although he said that he “hoped” it would not be cut. John Lackey, a shareholder from Richmond, Va., who attended the meeting precisely to ask about the dividend, was not reassured. “That wasn’t a very clear answer,” he said of Mr. Dimon’s response. “I expect that shareholders are going to suffer because of this.” Analysts expect the bank to earn $4 billion in the second quarter, factoring in the original estimated loss of $2 billion. Even if the additional trading losses were to double, the bank could still earn a profit of $2 billion. And many analysts and investors remain optimistic about the bank’s long-term prospects. Glenn Schorr, a widely followed analyst with Nomura, reiterated on Wednesday his buy rating on JPMorgan shares, which are down more than 10 percent since the trading loss became public last week. What’s more, the chief investment office earned more than $5 billion in the last three years, which leaves it ahead over all, even given the added red ink. But the underlying problem is that while these sharp swings are expected at a big hedge fund, they should not be occurring at a bank whose deposits are government-backed and which has access to ultralow cost capital from the Federal Reserve, experts said. “JPMorgan Chase has a big hedge fund inside a commercial bank,” said Mark Williams, a professor of finance at Boston University, who also served as a Federal Reserve bank examiner. “They should be taking in deposits and making loans, not taking large speculative bets.” Not long after Mr. Dimon’s announcement of a dividend increase in March, the notorious bet by JPMorgan’s chief investment office began to fall apart. Traders at the unit’s London desk and elsewhere are now frantically trying to defuse the huge bet that was built up over years, but started generating erratic returns in late March. After a brief pause, the losses began to mount again in late April, prompting Mr. Dimon’s announcement on May 10. Beginning on Friday, the same trends that had been causing the losses for six weeks accelerated, since traders on the opposite side of the bet knew the bank was under pressure to unwind the losing trade and could not double down in any way. Another issue is that the trader who executed the complex wager, Bruno Iksil, is no longer on the trading desk. Nicknamed the London Whale, Mr. Iksil had a firm grasp on the trade — knowledge that is hard to replace, even though his anticipated departure is seen as sign of the bank’s taking responsibility for the debacle. “They were caught short,” said one experienced credit trader who spoke on the condition of anonymity because the situation is still fluid. The market player, who does not stand to gain from JPMorgan’s losses and is not involved in the trade, added, “this is a very hard trade to get out of because it’s so big.” He estimated that the initial loss of just over $2 billion was caused by a move of a quarter percentage point, or 25 basis points, on a portfolio with a notional value of $150 billion to $200 billion — in other words, the total value of the contracts traded, not JPMorgan’s exposure. In the four trading days since Mr. Dimon’s disclosure, the market has moved at least 15 to 20 basis points more against JPMorgan, he said. The overall losses are not directly proportional to the move in basis points because of the complexity of the trade. Many of the positions are highly illiquid, making them difficult to value for regulators and the bank itself. In its simplest form, traders said, the complex position assembled by the bank included a bullish bet on an index of investment-grade corporate debt, later paired with a bearish bet on high-yield securities, achieved by selling insurance contracts known as credit-default swaps. A big move in the interest rate spread between the investment grade securities and risk-free government bonds in recent months hurt the first part of the bet, and was not offset by equally large moves in the price of the insurance on the high yield bonds. As the credit yield curve steepened, the losses piled up on the corporate grade index, overwhelming gains elsewhere on the trades. Making matters worse, there was a mismatch between the expiration of different instruments within the trade, increasing losses. The additional losses represent a worsening of what is already the most embarrassing misstep for JPMorgan since Mr. Dimon became chief executive in 2005. No one has blamed Mr. Dimon for the trade, which was under the oversight of the head of the chief investment office, Ina Drew, but he has repeatedly apologized, calling it “stupid” and “sloppy.” Ms. Drew resigned Monday and more departures are anticipated.

Tuesday, 15 May 2012

Francois Hollande is to be sworn in as France's first Socialist president in 17 years

Francois Hollande is to be sworn in as France's first Socialist president in 17 years in a ceremony on Tuesday before visiting Berlin to meet German Chancellor Angela Merkel for urgent talks on the future of the eurozone.

Hollande, whose election comes as the bloc is teetering back into crisis with fears about Greece's future in the single currency, will give his first presidential news conference in Berlin in the evening with Merkel.

He was also set to make the much-anticipated announcement of who will lead his government as prime minister, with Jean-Marc Ayrault, the head of the Socialists' parliamentary bloc, tipped as frontrunner.

Other contenders include Martine Aubry, the Socialist Party leader and former labour minister, Manuel Valls, Hollande's communications director during the campaign, and Pierre Moscovici, his campaign and transition chief.

Markets watching

Nine days after he defeated right-winger Nicolas Sarkozy in a fierce campaign, the Socialist's first words as president will be keenly watched by financial markets eager for reassurance that his push for more economic growth against austerity measures will not sour the start of his relationship with Merkel.

Before that, Sarkozy will go through the ritual of entrusting his successor with nuclear codes and other secret dossiers, and Hollande will eat his first lunch as president joined by several former Socialist prime ministers.

Spotlight coverage of France's 2012 presidential elections

At 14:00 GMT, Hollande will fly to Berlin, where he faces an uncertain reception from Merkel, a Sarkozy ally and the main backer of the European Union's fiscal austerity drive. Hollande has vowed to refocus European economic policy on growth by re-opening talks on a fiscal pact agreed in March that aims to control European debt by enshrining greater budget discipline.

Merkel has repeatedly insisted since Hollande's election that the pact, signed by 25 of the 27 EU countries and already ratified in some, is not open to renegotiation.

But observers say there could be room for manoeuvre, with Hollande likely to agree to additional stimulus measures without a complete rewrite of the agreement. The possible appointment as prime minister of Ayrault, a German speaker with strong contacts in Berlin, could also point to rapprochement between the leaders of Europe's two largest economies. 

And with political paralysis in Greece raising the spectre of the country being forced from the eurozone, both Merkel and Hollande will be keen to reassure worried markets they can work together.

Simple inauguration

Hollande takes over at a time when French debt has swelled to 90 per cent of GDP, the trade deficit is at a record $90bn and nearly one in four young French workers is unemployed. The public sector accounts for 56 per cent of annual output, higher than in any other European country.

Hollande, who said on the night of his election that the weight of events in Europe had forced him to keep his celebrations short, said on Monday he knew he would be judged on how he started his presidency.

Anxious not to lose the down-to-earth image that appealed to voters tired of his predecessor Nicolas Sarkozy, Hollande has asked for his inauguration ceremony to be kept as low-key as possible.

In a break with tradition, he will invite just three dozen or so personal guests to join some 350 officials at the event and neither his nor his partner Valerie Trierweiler's children will attend.

He will be presented with the official chain of office, a gold collar engraved with the names of all Fifth Republic presidents before being taken on a traditional procession down the Champs Elysees avenue in an open-topped car.

Hollande is expected to name civil servant Pierre-Rene Lemas as his chief of staff shortly after his swearing-in.

Sunday, 6 May 2012

leader of far-right party lashes out at Greece's 'traitors'

The leader of an extreme-right, anti-immigrant party on course for shock success in Greece's general elections has lashed out at those he described as "traitors" responsible for the country's financial crisis and said his party was ushering in a "revolution". The far-right Golden Dawn party is set to win 7% of the parliamentary vote, according to early projections, as Greeks punished the traditionally dominant parties who backed harsh austerity measures tied to debt-relief agreements. Parties must exceed a 3% threshold of the vote to be represented in Greece's parliament. In the last general election in 2009, Golden Dawn received only 0.29%. It has seen its support jump as a wave of anti-immigrant sentiment has spread in financially devastated Greece. Golden Dawn leader Nikolaos Michaloliakos said his party had delivered a blow against the country's corrupt leadership. "They slandered us, slung mud at us and shut us out of all the news media – the TV channels of the corrupt elite – and we beat them," the 55-year-old leader said as the votes came in. "The day of national revolution by the Greeks has begun against those who are selling us out and looting the sweat of the Greek people." Golden Dawn campaigned hard against illegal immigration, and its supporters have been blamed for a recent spike in inner-city street attacks against mostly Asian immigrants. The party's supporters, routinely seen intimidating immigrants in run-down parts of the capital, wear black shirts, and its emblems resemble Nazi insignia. But Michaloliakos has rejected the neo-Nazi label widely used for his party, stressing that it is staunchly nationalist. Referring to immigrants, Golden Dawn's campaign slogan in TV ads was: "Let's rid this country of the stench." Javad Aslan, a spokesman for Greece's Pakistani immigrant community, urged other political parties to work together to isolate Golden Dawn. "This is dangerous for everyone who is living in Greece," Aslan said. "This [result is] unbelievable for me. It is very serious, very dangerous. "I can never believe a political party that comes with knives and bars against us, that hurts people and puts them in hospital." Golden Dawn says Greece should reject its bailout commitments and write off its debt. "No one should fear me if they are a good Greek citizen. If they are traitors – I don't know," Michaloliakos said. Flanked by two muscly aides, he later told a news conference: "Those who betray this country – it's time for them to be afraid. We are coming." He did not elaborate, but added: "We will fight to free Greece from the global loan sharks, for a Greece of dignity and independence, and for a Greece that is not a social jungle with all these millions of illegal immigrants that were brought here."

Friday, 4 May 2012

Greek far-right parties could end up with as much as 20 percent of the vote in Sunday's elections. The neo-Nazi Golden Dawn party has intensified the xenophobic atmosphere in the country.

At night, the streets leading to Omonoia Square are empty. That wasn't always the case. The area was the premier multicultural neighborhood of Athens and one of the first quarters to be gentrified. Jazz bars and Indian restaurants lined the streets, separated by the occasional rooms-by-the-hour hotel. It was a quarter full of immigrants, drug addicts and African prostitutes, but also of journalists, ambitious young artists and teenagers from private schools. Today, the immigrants stay home once night falls. They are afraid of groups belonging to the "angry citizens," a kind of militia that beats up foreigners and claims to help the elderly withdraw money from cash machines without being robbed. Such groups are the product of an initiative started by the neo-Nazi Chrysi Avgi -- Golden Dawn -- the party which has perpetrated pogroms in Agios Panteleimon, another Athens neighborhood with a large immigrant population. There are now three outwardly xenophobic parties in Greece. According to recent surveys, together they could garner up to 20 percent of the vote in elections on Sunday: the anti-Semitic party LAOS stands to win 4 percent; the nationalist party Independent Greeks -- a splinter group of the conservative Nea Dimokratia party -- is forecast to win 11 percent; and the right extremists of Golden Dawn could end up with between 5 and 7 percent. My name is Xenia, the hospitable. Greece itself should really be called Xenia: Tourism, emigration and immigration are important elements of our history. But hospitality is no longer a priority in our country, a fact which the ugly presence of Golden Dawn makes clear. A Personal Attack Shaved heads, military uniforms, Nazi chants, Hitler greetings: How should a Greek journalist deal with such people? Should one just ignore them and leave them unmentioned? Should one denounce them and demand that they be banned? One shouldn't forget that they are violent and have perpetrated several attacks against foreigners and leftists. I thought long and hard about how to write about Golden Dawn so that my article was in no way beneficial to the party. On April 12, the daily Kathimerini ran my story under the headline "Banality of Evil." In the piece, I carefully explained why it was impossible to carry on a dialogue with such people and why I thought the neo-Nazi party should disappear from media coverage and be banned. Five days later, an anonymous reply to my article appeared on the Golden Dawn website. It was a 2,500-word-long personal attack in which the fascists recounted my entire career, mocked my alleged foreign roots (I was born in Hamburg) and even, for no apparent reason, mentioned my 13-year-old daughter. The unnamed authors indirectly threatened me as well: "To put it in the mother tongue of foreign Xenia: 'Kommt Zeit, kommt Rat, kommt Attentat!'" In other words, watch your back. Most Greeks believe that Golden Dawn has connections to both the police and to the country's secret service. Nevertheless, I went to the authorities to ask what I should do. I was told that I should be careful. They told me that party thugs could harass me, beat me or terrorize me over the phone. It would be better, they said, if I stopped writing about them. If I wished to react to the threats, they suggested I file a complaint against Golden Dawn's service provider. That, however, would be difficult given that the domain is based somewhere in the United States. Like Weimar Germany A friend told me that I should avoid wearing headphones on the street so that I can hear what is going on around me. My daughter now has nightmares about being confronted by members of Golden Dawn. Three of her classmates belong to the party. The three boys have posted pictures of party events on their Facebook pages. For their profile image, they have chosen the ancient Greek Meandros symbol, which, in the red-on-black manifestation used by Golden Dawn, resembles a swastika. The group's slogans include "Foreigners Out!" and "The Garbage Should Leave the Country!" The fact that immigration has become such an issue in the worst year of the ongoing economic crisis in the country can be blamed on the two parties in government. The Socialist PASOK and the conservative Nea Dimokratia (New Democracy, or ND) are running xenophobic campaigns. ND has said it intends to repeal a law which grants Greek citizenship to children born in Greece to immigrant parents. And cabinet member Michalis Chrysochoidis, of PASOK, has announced "clean up operations" whereby illegal immigrants are to be rounded up in encampments and then deported. When he recently took a stroll through the center of Athens to collect accolades for his commitment to the cause, some called out to him: "Golden Dawn has cleaned up Athens!" Yet, Chrysochoidis is the best loved PASOK politician in his Athens district, in part because of his xenophobic sentiments. His party comrade, Health Minister Andreas Loverdos, is just as popular. Loverdos has warned Greek men not to sleep with foreign prostitutes for fear of contracting HIV and thus endangering the Greek family. High unemployment of roughly 22 percent, a lack of hope, a tendency toward violence and the search for scapegoats: Analyses in the Greek press compare today's Greece with Germany at the end of the Weimar Republic. "We didn't know," said many Germans when confronted with the truth of the Holocaust after Nazi rule came to an end. After elections on May 6, no Greeks should be able to make the same claim.

Thursday, 3 May 2012

Locked Up Abroad is different.

Reality TV is, at its core, about letting viewers revel in the bad decision-making of others: those who speak without thinking, who backstab, who have sex without condoms, who cheat. Frustratingly, though, reality shows—to which I am unapologetically addicted—tend to reward bad behavior, by giving its villains notoriety, spinoffs, opportunities to endorse weight-loss products, a nice sideline in paid interviews with supermarket tabloids, and other D-list rewards.

Locked Up Abroad is different. The National Geographic show, the sixth season of which premiered last week, gives its stars something they wouldn’t get on other reality shows: their comeuppance.

Having debuted in the U.K. (under the title Banged Up Abroad), Locked Up Abroad showcases one person (sometimes a couple) who ends up in prison overseas. Participants fit into one of two categories. The first group are the (largely) innocent: the married missionary couple who were kidnapped in the Philippines by the Islamist group Abu Sayyaf, for instance, or the seemingly goodhearted duo who wanted to help children in Chechnya, but ended up held hostage. These tales of the altruistic and naive can be difficult to watch.

But then there are those who rather deserve what happens to them. Typically these are drug smugglers, and their episodes follow a familiar arc. A young person—they’re almost always young—is bored or in need of cash (usually both). She is desperate or feels invincible (usually both). Someone approaches her and offers a seemingly great deal: an all-expenses-paid, luxurious overseas trip in exchange for a small favor. Sometimes the would-be employer is upfront and admits he needs a drug mule, but downplays the risk; other times, he hints at harmless-sounding illegalities, like bringing back legal goods to beat the export tax. In a few cases, the cover story is painfully thin: Come with me to check out this cool new nail polish technology only available in Thailand, for example. (That woman was in a vulnerable place: She had just been released on bail after killing her partner’s former husband—in self-defense, she claimed.)

The drug smugglers are caught, of course, usually at the airport, and brought to prison. And while a few episodes have taken place in developed countries—Spain, Japan, South Korea—the majority of our anti-heroes end up incarcerated in places with some of the dirtiest and most dangerous penitentiaries in the world.

Take last week’s episode, “From Hollywood to Hell.” (And pardon my spoilers, but this installment is too good not to describe in detail.) In 2001, actor Erik Aude was living the marginal Hollywood dream. An ür-bro, he had played bit parts in Dude, Where’s My Car?(credited as “Musclehead”) and 7th Heaven (“Boyfriend”) when a gym buddy asked him to go to Turkey to bring back “leather goods.” Aude makes the trip, and though a drug-sniffing dog alerts authorities at the Turkish airport, they find nothing—so Aude feels sure the whole thing is legit. He even recommends that one of his brothers start couriering for his friend. Then, when his brother backs out of a planned trip to Pakistan in 2002, Aude steps in, and shit gets real.

It is difficult to feel sorry for Aude. After his escort dumps him in an Islamabad hotel and warns him not to leave because the area is unsafe for Americans, he doesn’t head to the embassy or the airport. Instead, he goes jogging—and even tries to flirt with girls in headscarves on the street (with disastrous results). And when he is taken to the airport with just one suitcase, he is (he claims) not the least bit suspicious that he might be a drug mule. When a customs official asks him whether his trip was for business or pleasure, he cheeses, “Pleasure is my business.”

Aude’s episode is mind-bogglingly watchable, not least because he—of course!—plays himself in the re-enactment. In his telling, he was a virtual action star: On at least three occasions, he single-handedly fights back dozens of Pakistanis. After he takes out a prison bully, he is hailed a hero. He rejects a reduced sentence because it would require him to plead guilty—and his pride is more valuable than his freedom, he says.

Aside from those truly in the wrong place at the wrong time, the most sympathetic characters of Locked Up Abroad may be the embassy employees called in to assist the suspected smugglers. Inevitably, Locked Up Abroad participants are horrified that the embassies of their homelands—usually English-speaking countries like the U.S., the U.K., or Australia—can’t do more for them. I can just imagine U.S. Embassy workers calling “not it” every time they get word from local authorities about some young American knucklehead who thought he could sneak past security with a bag full of cocaine.

Tonight’s episode is called “The Juggler Smuggler,” and its “hero” is Mark Greening, a “party-loving” drug-runner who knows his latest trip is “doomed” when he doesn’t get his fortune told by “his favorite Gypsy woman.” I can’t wait.

Low fare airline bmibaby to close

Low fare carrier bmibaby is set to close later this year, threatening the loss of hundreds of jobs and the ending of its flights. The carrier transferred to International Airlines Group, the owners of British Airways, last month, but consultations have now started with unions about its closure in September. The GMB union said it was "devastating" news, especially for the East Midlands, where hundreds of jobs are now threatened with the axe. With bmi Regional, bmibaby transferred to International Airlines Group ownership on completion of the purchase from Lufthansa. IAG has consistently said that bmibaby and bmi Regional are not part of its long-term plans. A statement said: "Progress has been made with a potential buyer for bmi Regional, but so far this has not been possible for bmibaby, despite attempts over many months by both Lufthansa and IAG. Bmibaby has therefore started consultation to look at future options including, subject to that consultation, a proposal to close in September this year." Peter Simpson, bmi interim managing director, said: "We recognise that these are unsettling times for bmibaby employees, who have worked tirelessly during a long period of uncertainty. Bmibaby has delivered high levels of operational performance and customer service, but has continued to struggle financially, losing more than £100 million in the last four years. In the consultation process, we will need to be realistic about our options. "To help stem losses as quickly as possible and as a preliminary measure, we will be making reductions to bmibaby's flying programme from June. We sincerely apologise to all customers affected and will be providing full refunds and doing all we can with other airlines to mitigate the impact of these changes." Jim McAuslan, general secretary of the pilots' union Balpa, said: "This is bad news for jobs. Bmibaby pilots are disappointed and frustrated that, even though there appears to be potential buyers, we are prevented from speaking with them to explore how we can contribute to developing a successful business plan. "The frustration has now turned to anger following the news that Flybe (which is part owned by BA) has moved onto many of these bmibaby routes without any opportunity for staff to look at options and alternatives. Balpa's priority is to protect jobs; and we will use whatever means we can to do so." The changes mean that all bmibaby flights to and from Belfast will cease from June 11, although this will not affect bmi mainline's services to London Heathrow. Bmibaby services from East Midlands to Amsterdam, Paris, Geneva, Nice, Edinburgh, Glasgow and Newquay, and from Birmingham to Knock and Amsterdam, will end on the same date.

Friday, 27 April 2012

Gas canister man storms office

One of the country's busiest shopping streets has been closed as a man wearing gas canisters stormed into an office and threatened to blow himself up, it was reported. Tottenham Court Road in central London was closed after police received emergency calls at midday. Scotland Yard sent a hostage negotiator to the scene amid reports the man had held people hostage inside the building several floors up. Pictures emerged of computer and office equipment being thrown through one of the office windows. A police spokesman said it was "too early to say if the suspect was armed or indeed had taken any hostages" but businesses and nearby buildings were evacuated. Joaqam Ramus, who works at nearby Cafe Fresco, said before being evacuated: "There was talk of a bomb and somebody having a hostage in a building. "All Tottenham Court Road is closed and so are we - the police told us to shut. "We don't know what it is but it seems someone has a hostage."

Thursday, 26 April 2012

Credit card fraud websites shut down on three continents

Three men have been arrested and 36 criminal websites selling credit card information and other personal data shut down as part of a two-year international anti-fraud operation, police have confirmed. The Serious Organised Crime Agency (SOCA), working with the FBI and US Department of Justice, as well as authorities in Germany; the Netherlands; Ukraine; Australia and Romania, swooped after identifying the sites as specialising in selling card and bank details in bulk. The move comes as a blow to what is a growing black market for stolen financial data. Detectives estimated that the card information seized could have been used to extract more than £500m in total by fraudsters. SOCA claimed it has recovered more than two and a half million items of compromised personal and financial information over the past two years. “The authorities have shut down 36 websites but it is difficult to know how many other people had access to that data. They could spring back up somewhere else if a gang is not eradicated completely,” said Graham Cluley of internet security firm Sophos. He added: “This is big business and, just as in any legitimate company there are people who specialise in different things, so there are those who actually get their hands on the personal data and those who sell it on; they are not often the same person.” An investigation by The Independent last summer found that scammers were making a “comfortable living” getting their hands on sensitive information and selling it online. Card details were being offered for sale for between 4p and £60 per card – depending on the quality – according to one source in the business. Some cards would be sold with incomplete or unreliable information; others ready to use. Some of the card details for sale on the websites shut down by SOCA were being sold for as little as £2 each. Investigators said that the alleged fraudsters were using Automated Vending Carts, which allowed them to sell large quantities of stolen data. They are said to be a driver of the growth in banking fraud over the last 18 months because of the speed with which stolen data can be sold. Lee Miles, Head of Cyber Operations for SOCA said: “This operation is an excellent example of the level of international cooperation being focused on tackling online fraud. Our activities have saved business, online retailers and financial institutions potential fraud losses estimated at more than half a billion pounds, and at the same time protected thousands of individuals from the distress caused by being a victim of fraud or identity crime.” An alleged operator in Macedonia was one of those arrested, while two British men accused of buying the information were also detained. Britain’s Dedicated Cheque & Plastic Crime Unit also seized computers suspected of being used to commit fraud.