US welcomes Sisi’s economic efforts, supports Egypt’s security: Kerry

from Ahram Online

The US “welcomes” Egyptian President Abdel-Fattah El-Sisi’s “steps to improve economic conditions,” US Secretary of State John Kerry said Sunday at the start of the US-Egypt Strategic Dialogue.

John Kerry met with Egyptian Foreign Minister Sameh Shoukri. Kerry will also meet with President El-Sisi later today.

In a press conference, Kerry said that the importance of US-Egypt relations “cannot be overstated.”

Kerry expressed the United States’ support for Egypt’s economy, saying the US is ready to work with Egypt to “attract more capital.”

In an effort to boost the economy and improve infrastructure, Egypt has been seeking to attract foreign investment since El-Sisi assumed office.

Kerry also addressed security concerns in the region, mainly over the rise of Islamic State group militants, saying his government is “committed to the security… of the Egyptian people.”

Meanwhile, Shoukri said that Cairo looks forward to “close cooperation” on the military front which, he said, will help achieve security and enhance economic opportunities for investors.

The meetings were scheduled to take place over two days. However, due to last minute changes, the ‎dialogue has been shortened to just one day. ‎

Some of the meetings that were supposed to take place between the US delegation and representatives ‎of the Egyptian private sector in the Egyptian-US Chamber of Commerce were canceled accordingly. ‎‎

[read more here]

Greek Stock Market Follows Manufacturing Sector Over the Cliff Upon Opening this Morning

Greece stock market nosedives after five-week shutdown

Greece’s stock market plunged nearly 23% on Monday when it reopened after a five-week shutdown brought on by fears that the country was about to be dumped from the eurozone.

The main Athens stock index fell to in worst ever one-day performance after only a few minutes of trading.

Greek manufacturing activity hits record low in July

With capital controls, banks closed and slumping demand, Greece’s factory output fell to its lowest level on record in July.

The manufacturing sector – which makes up about 10% of the economy – fell to 30.2 points according to Markit’s montly purchasing managers index. Anything below 50 is a sign of contraction. This is the worst performance since the company started compiling the data in 1999

greece

Real News: Reporter on the Ground in Athens

“Fury rising in the population”

Real News: Protests Erupt in Athens As Greece Approves Eurozone Bailout (video)

by Scott Creighton

In this video, a Greek man (public school teacher) says ( at 2:35 mark) “We have come here to protest the austerity program of the new Greek government. Because it’s an austerity program much of the right wing and they are using the so-called “left wing” government in order to implement the program that they couldn’t do with their right wing and center wing government

Now where have you heard that before?

Banker Occupied Greece: Requiem for a Failed State

by Steve Lendman

It’s all over but the obituary. Rubber-stamp Greek parliamentarians overwhelming approved transforming the nation into a banker run colony –  by a 229 – 64 vote. Six lawmakers abstained.
Coalition partner Independent Greeks leader Panos Kammenos and likeminded party members voted “yes” after rhetorically rejecting Troika terms.
The vast majority of bailout funding goes to pay bankers and other creditors – nothing for economic recovery and growth. The price is deeper punishing austerity, greater poverty and unemployment than already, and far more human misery ahead with no end in sight.

[read more here]

UPDATES from Greece: Vote Day, Tahrir Moment in Syntagma Square and the IMF Pledge that Isn’t

by Scott Creighton

itemprop

A man racked by shame begs for money as Greeks line up to make their small daily withdrawals from a bank

Alexis Tsipras took his case to the press last night in an hour-long interview on state TV. During that time he defended his 180 degree turn and urged the country to get behind the “irrational” Troika coup because, as he put it, “it’s the best deal Greece can get” Gone was all the pretense he displayed back when he and the rock-star pretended to want Greeks to vote “NO” on the austerity referendum. Now he demands a “YES” from Parliament on the neoliberal economic brick being dropped on the heads of the people he represents. He promised to keep the banks closed until the deal is ratified. More economic terrorism from the “hero” of Greece and the left. Like Obama siding with the republicans to get several of his previous “successes” done in congress, Tsipras looks to the neoliberal opposition parties for support getting the deal finalized.

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How Do Barney Fife and Fidel Castro Factor Into the Biggest News Story of the Year?

by Scott Creighton

I wish to see if I can connect a few dots here, so bear with me.

Putting aside “ISIS™” for a moment and the “Big Story” about some talking head on MSNBC lying to folks (yeah, there’s some news for you) what are the biggest geopolitical trends in the news today? Is it the fact that Syriza, the new “Radical Left™” brand of 3rd Way centrist ideology (think “CHANGE™” circa 2008) seems to have forgotten what the term “odious debt” means?

In international law, odious debt, also known as illegitimate debt, is a legal theory that holds that the national debt incurred by a regime for purposes that do not serve the best interests of the nation, should not be enforceable. Such debts are, thus, considered by this doctrine to be personal debts of the regime that incurred them and not debts of the state. In some respects, the concept is analogous to the invalidity of contracts signed under coercion. Wiki

Is that the biggest story in the world today? Well, if you consider the fact that international debt has risen by 57 trillion dollars since the global economic terrorism of 2008, coupled with the fact that much if not ALL of that new additional debt may be declared odious were Greece to set the precedent, well, that could very well be the story of the year. The story of the decade or the millennium in fact.

But it isn’t, because they wont (“use us to implement the European programme” Varoufakis).

And the usually antagonistic ones, the Webster Tarpley’s of the “interwebs”, aren’t really calling for Syriza to live up to their campaign pledge and do that.

How about “ISIS™”? Now that the MTV music video director and their team made that “burning man” video, seems like all the world wants a piece of “ISIS™” butt.

We have senators and congressman lining up to get in front of anyone with a camera so they can pledge their undying devotion to autocratic, despotic regimes like those in Jordan, UAE, Bahrain and Qatar for the sole purpose of providing them weapons and training, all paid for with your tax dollars while they say they can’t afford to pay teachers here in the states.

No money for teachers or disabled folks but we got butt-loads of cash to heap on dictators from the Middle East to help bomb Syria into regime change. Funny how that works, ain’t it?

We have “progressive” TV personalities spending enormous amounts of their airtime proving what warmongering hawks they can be just like the neocons of yesteryear they pilloried for a decade.

We have the Obama administration, the President Peace Prize farce, presenting their own version, a hand-crafted document they expect to be passed without debate, authorizing war anywhere, anytime against anyone they say is supporting “ISIS™”. That new AUMF document, one usually crafted by congress, will be slapped on the desks of leading congressmen sometime today or tomorrow. It’s something this president has wanted since they created “ISIS™” now that the old one from 2001 is a bit sketchy considering the fact that it names al Qaeda as the enemy and we now call them “moderates” and are funding them in Syria.

And all of this is based on what? A ridiculous MTV-styled video custom made for the purpose of providing the pretext for what is happening right now and released on the very same day the King of Jordan was visiting Obama and congress looking for money to fight “ISIS™”. (I will write more about that video later this morning)

Are those the biggest stories in the world today?

No. Not in my opinion.

So what is? What is the one big story everyone knows about and no one is talking about and how does Barney Fife and Fidel Castro of all people fit into this? Have I gone crazy? Inquiring minds want to know.

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