Greece on track to weather debt crisis: Merkel

Page last updated at 03:54 GMT, Sunday, April 1, 2012 - 08:54 EST

AFP:

"Greece has a chance now," Angela Merkel said on Saturday

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Greece has a chance to weather its crisis after the eurozone and private creditors agreed to restructure its debt, but has "a long way to go," German Chancellor Angela Merkel told a Czech daily Saturday.

"Greece has a chance now ... it still has a long way to go, but it has already walked a decent stretch of it," Merkel told the broadsheet Lidove Noviny daily ahead of her visit to Prague on April 3.

"The Greek parliament has approved harsh measures, such as slashing the minimum wage, so that it could compete with neighbouring countries for instance in tourism," she said.

"These are extremely tough political decisions which I appreciate a lot. They will bear fruit with time," added Merkel.

She said she wanted Greece to stay in the eurozone as its departure "would have serious effects" including the domino effect that could cause doubts in other countries.

Read the whole story: AFP

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Debt | Euro Zone Set To Boost Debt-crisis ... - Freedom Debt Relief

March 30, 2012 ? 6:11 pm

COPENHAGEN (Reuters) ? Euro zone finance ministers are likely to agree to temporarily almost double their financial backstops on Friday as one of the final moves to end the sovereign debt crisis, although Germany continues to favor a smaller increase.

The 17 countries sharing the euro have already agreed to adopt balanced-budget rules in an effort to convince markets that euro zone public finances would be sustainable.

They also agreed to slap fines on countries that run excessive budget deficits or have large imbalances in their economies.

After a deal with investors this month to restructure Greek debt, increasing the amount of money the euro zone can use to help its members cut off from markets is one of the last things policy-makers can do to boost investor confidence.

A draft statement by the ministers, obtained by Reuters [ID:nL6E8ET5NA], showed that in case of an emergency over the next 15 months, the euro zone could raise the combined firepower of its two bailout funds to 940 billion euros from 500 billion now.

But this could happen only if during that time there was a need for a new bailout for a euro zone country and the new, permanent bailout fund, called the European Stability Mechanism ( ESM ), would run out of money to finance it.

The ESM, which is to go on-line in July, will have 500 billion euros of lending capacity and the temporary European Financial Stability Facility ( EFSF ) has 440 billion euros, of which 200 billion is already earmarked for financing Greece, Ireland and Portugal.

According to the draft statement, the ministers are to agree to allow the EFSF to service its existing commitments on top of the full 500 billion euros of new money that would be provided by the ESM. The combined lending power of both funds is now capped at 500 billion euros.

Any potential new bailouts after July would be handled by the ESM. If it does not have enough money, the remaining 240 billion euros of yet uncommitted EFSF money could be used.

?The current overall ceiling for ESM/EFSF lending will be raised such that the ESM and the EFSF will be able to operate, if needed ? at their full capacity for the period during which the EFSF remains available, i.e. until mid-2013,? it said.

But Wolfgang Schaeuble, finance minister for Germany where public opinion is strongly against more money for bailouts, said 800 billion euros in the euro zone rescue aid should be enough.

?We have 500 billion euros in fresh money available, together with the programs already agreed for Ireland, Portugal and the new program for Greece. It is about 800 billion (euros),? Schaeuble told a gathering at the University of Copenhagen a day before the ministerial meeting.

?I think it?s enough,? he said, deflecting recent calls for a financial reserve of up to 1 trillion euros that would impress investors. ?To spend more money is not the solution,? he said.

Schaeuble arrived at the 800 billion by adding not only the 500 billion from the ESM and the 200 billion of commitments from the EFSF, but also 60 billion euros, now largely already spent, at the disposal of the European Financial Stability Mechanism (EFSM)and 56 billion in bilateral euro zone loans to Greece.

CONDITION FOR MORE MONEY FOR THE IMF

The European Commission and several of the world?s biggest economies have been pushing to increase the euro zone bailout capacity as much as possible, in the belief that once investors see a wall of money supporting euro zone debt, confidence would return and the rescue funds would never have to be used.

But Berlin has been against raising the bailout power in advance, saying it was ready to do so only if needed, and noting that markets have calmed down from the peak of the debt crisis.

Yet market concern about Spain, which badly missed its budget deficit target in 2011 and negotiated with the euro zone a softer target for 2012, have raised the country?s bond yields and put the bailout capability discussion back on the table.

The likely decision to allow only a temporary increase of the bailout capacity to 940 billion euros will be a compromise between the need to reassure German taxpayers and markets.

It will also give the euro zone something to present to finance ministers of the world?s 20 biggest developing and developed economies in April in Washington during talks about bigger global contributions to the International Monetary Fund.

A higher euro zone bailout capacity is a pre-condition for most G20 countries to contribute more money to the IMF.

Yet Germany may be able to call the outcome a success, too, because the ESM will not have its full 500 billion euro capacity from the start ? the capacity depends on how quickly the ESM?s capital is paid in.

The draft foresees that two tranches of ESM capital will be paid in 2012, giving the ESM a lending capacity of 200 billion euros. If added to the 200 billion of existing EFSF bailouts, the total capacity will only be 400 billion.

Even with the 240 billion euros of temporary emergency top-up, the bailout funds? capacity would still be only 640 billion.

And from mid-2013, when the next two tranches of ESM capital are to be paid in, raising the ESM/EFSF bailout capacity to 600 billion, the yet uncommitted 240 billion of EFSF money will no longer be available as a temporary emergency boost.

It would only be in 2014 that the combined bailout capacity of the two funds would effectively reach 700 billion euros.

Euro zone officials note, however, that should the ESM need its full lending capacity earlier, the capital can be raised quickly.

The ministers are also to say that they will continue to review the adequacy of the ESM capital ?as appropriate? and ?in particular when used EFSF guarantees are freed once financial assistance is repaid?.

(Reporting By Jan Strupczewski; Editing by Gary Hill)

Tags: Debt

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BMW adds extra sportiness to its i-series lineup, unveils i8 Concept Spyder

Image
We've swooned over BMW's i3 and i8 plug-in gasoline electric hybrids for some time now, so naturally our hearts raced today when the company announced its latest addition to the series, the i8 Concept Spyder. What you're looking at is essentially a sportier version of the i8 Coupe, with the appropriate accents and design tweaks to match. So, what's different in this variant of the nearly gull-winged wonder with a 96 kW / 131hp electric motor up front and 164 kW / 223hp gasoline engine on back? BMW notes that the vehicle features a shorter wheelbase and overall length (all while maintaining its 50-50 weight distribution), a slighter darker interior and refreshed paint job on its exterior, topless roof and even a pair of matching folded kickboards(!) that stow in the back. BMW hasn't mentioned when they'll be showing this Spyder in flesh, but as Autoblog notes, the New York Auto show is only a week way -- and we'll be sure to let you know if we spot it ourselves. In the meantime, you can zip over to Autoblog and the press release after the break for the details.

Continue reading BMW adds extra sportiness to its i-series lineup, unveils i8 Concept Spyder

BMW adds extra sportiness to its i-series lineup, unveils i8 Concept Spyder originally appeared on Engadget on Sat, 31 Mar 2012 18:00:00 EDT. Please see our terms for use of feeds.

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Sex and Relationships with Mikaya Heart ? DangerousLee.Biz

?

Failing to deal well with emotions is probably the single biggest cause of problems in relationships, especially as sex tends to bring up feelings. Yet they are rarely understood in this society. Here is quick primer:

1. Feelings are not facts but they often affect us much more than facts.

2. Feelings may carry tremendous energy which makes them very powerful.

3. Trying to rationalize someone out of a feeling (?There?s no reason to be so angry about it!?) is not likely to make someone feel better, although it may enable him or her to see that the original basis for the feeling goes beyond the present situation.

4. Feelings always want to be felt and they will usually pass quite quickly if you allow yourself to express them fully.

5. Feelings that we do not allow ourselves to feel in the moment when they arise hang around, sometimes for many years, waiting for an opportunity to be expressed. Old stuck feelings sap our energy and effectively prevent us from being clear channels of energy.

6. If you do clear out old feelings, you will find that new feelings that come up are always related to the present situation and they are hugely informative. Every feeling has something to tell you.

You can see that it is a very good idea to pay attention to feelings. If they are triggered in a way that seems out of proportion to the present moment, then you have been storing them from the past. Addressing the past and letting them move on is well worth the effort. Repressing feelings is a major source of stress and tension in modern society.

It is often better not to take action when you are in the middle of experiencing an intense feeling. Strong feelings around a particular person may indicate some action is necessary in order for you to take care of yourself or of someone else, but we are not always able to see clearly when we are seeing red. Allow the intensity of the feeling to recede, then consider appropriate action when you are more able to be rational.

More about how to deal with feelings next time . . .

Mikaya Heart is an award-winning author and life-coach. Her latest book is The Ultimate Guide to Orgasm for Women. www.mikayaheart.org

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See all the luxury estates, homes, condominiums, townhouses or ...

You are here: Home \ Latest Updates \ See all the luxury estates, homes, condominiums, townhouses or investment properties in the Marina Del Rey & The Strand areas of Los Angeles, California 90292. Take a look at all of the estates, homes and condos for sale and listings from the MLS, Multiple Listing Service.

Marina Del Rey 300x225 See all the luxury estates, homes, condominiums, townhouses or investment properties in the Marina Del Rey & The Strand areas of Los Angeles, California 90292.  Take a look at all of the estates, homes and condos for sale and listings from the MLS, Multiple Listing Service. Marina Del Rey

Are you looking to buy a luxury estate, home, condominium, townhouse or investment property in the Marina Del Rey & The Strand areas of Los Angeles, California 90292? Let us help you find everything you need to know about buying or selling a home! As one of the preeminent, professional real estate teams in my community for over 21 years, we are dedicated to providing the finest service available while breaking new ground. Because the real estate industry is becoming more sophisticated and challenging every day, you need a professional that understands the industry and is positioned to stay ahead of the game. We go the extra mile to help you achieve your goals. That?s why we constantly research the market and property values so your home is priced effectively from day one. We also make sure the public knows your home is for sale by using innovative advertising and marketing techniques to attract potential buyers. The Christophe Choo Real Estate Group at Coldwell Banker Previews International is the most comprehensive online source for luxury real estate listings, from estate homes to luxury condominiums, incredible tear down opportunities and investment properties. Based in beautiful Beverly Hills, California 90210, the Christophe Choo Real Estate Group provides exclusive luxury homes for sale on a local, global and international stage. Hence the tagline: ?Locally Known ? Globally Connected?. Search for luxury properties in your area, whether in the ?Platinum Triangle? areas of the Westside of Los Angeles of Beverly Hills, Holmby Hills and Bel Air or in The Sunset Strip, Hollywood Hills, Brentwood, Westwood, the Wilshire Corridor, Century City, Pacific Palisades, Santa Monica, Malibu, Venice, Marina Del Rey, Cheviot Hills, Hancock Park, Los Feliz and the key Westside areas of Los Angeles, the Christophe Choo Real Estate Group can help. Call or email me today! Christophe Choo The Christophe Choo Real Estate Group Coldwell Banker Previews International Beverly Hills 310-777-6342 Or send me an email: Christophe@ChristopheChoo.com www.ChristopheChoo.com

Showing properties 1 - 30 of 175. See more Marina Del Rey community real estate.
(all data current as of 3/30/2012)

  1. 0 beds, 0 baths

    Home size: 59,826 sq ft

    Lot size: 1.83 ac

    Year built: 1955

    Parking spots: 65

    Days on market: 7

    Walk Score?: 92

  2. 4 beds, 5 full, 1 part baths

    Home size: 5,863 sq ft

    Lot size: 3,644 sq ft

    Year built: 2010

    Parking spots: 8

    Days on market: 60

    Walk Score?: 32

  3. 0 beds, 0 baths

    Home size: 8,000 sq ft

    Lot size: 5,052 sq ft

    Year built: 1992

    Parking spots: 10

    Days on market: 81

    Walk Score?: 75

  4. 6 beds, 8.5 baths

    Home size: 7,574 sq ft

    Lot size: 5,532 sq ft

    Year built: 2011

    Days on market: 76

    Walk Score?: 37

  5. 4 beds, 5.0 baths

    Home size: 5,758 sq ft

    Lot size: 5,000 sq ft

    Year built: 1996

    Parking spots: 2

    Days on market: 267

    Walk Score?: 51

  6. 4 beds, 6.0 baths

    Home size: 4,767 sq ft

    Lot size: 3,690 sq ft

    Year built: 2001

    Days on market: 45

    Walk Score?: 37

  7. 3 beds, 3.5 baths

    Home size: 3,111 sq ft

    Year built: 2003

    Parking spots: 3

    Days on market: 297

    Walk Score?: 86

  8. 3 beds, 3 full, 1 part baths

    Home size: 3,848 sq ft

    Year built: 2006

    Parking spots: 3

    Days on market: 120

    Walk Score?: 88

  9. 3 beds, 5.0 baths

    Home size: 4,253 sq ft

    Lot size: 4,791 sq ft

    Year built: 1998

    Parking spots: 3

    Days on market: 14

    Walk Score?: 49

  10. 4 beds, 6.5 baths

    Home size: 5,078 sq ft

    Lot size: 3,420 sq ft

    Year built: 2001

    Parking spots: 3

    Days on market: 77

    Walk Score?: 48

  11. 0 beds, 0 baths

    Home size: 3,664 sq ft

    Lot size: 2,874 sq ft

    Year built: 2007

    Parking spots: 6

    Days on market: 49

    Walk Score?: 45

  12. 5 beds, 6.0 baths

    Home size: 5,034 sq ft

    Lot size: 2,888 sq ft

    Year built: 2001

    Parking spots: 3

    Days on market: 42

    Walk Score?: 46

  13. 2 beds, 3.0 baths

    Home size: 2,315 sq ft

    Year built: 1976

    Parking spots: 3

    Days on market: 144

    Walk Score?: 29

  14. 3 beds, 4.0 baths

    Home size: 4,856 sq ft

    Lot size: 3,659 sq ft

    Year built: 1989

    Parking spots: 3

    Days on market: 77

    Walk Score?: 49

  15. 4 beds, 4.0 baths

    Home size: 3,842 sq ft

    Lot size: 3,150 sq ft

    Year built: 1997

    Days on market: 120

    Walk Score?: 35

  16. 3 beds, 3.0 baths

    Home size: 1,700 sq ft

    Lot size: 2,520 sq ft

    Year built: 1929

    Parking spots: 2

    Days on market: 184

    Walk Score?: 85

  17. 4 beds, 4.0 baths

    Home size: 4,218 sq ft

    Lot size: 3,197 sq ft

    Year built: 1991

    Parking spots: 4

    Days on market: 29

    Walk Score?: 75

  18. 3 beds, 3.5 baths

    Home size: 3,140 sq ft

    Year built: 2010

    Parking spots: 2

    Days on market: 373

    Walk Score?: 83

  19. 4 beds, 4 full, 2 part baths

    Home size: 4,882 sq ft

    Lot size: 3,150 sq ft

    Year built: 1999

    Parking spots: 5

    Days on market: 96

    Walk Score?: 37

  20. 4 beds, 3.5 baths

    Home size: 4,545 sq ft

    Lot size: 4,138 sq ft

    Year built: 1988

    Parking spots: 3

    Days on market: 158

    Walk Score?: 37

  21. 2 beds, 2 full, 1 part baths

    Home size: 2,315 sq ft

    Year built: 1976

    Parking spots: 3

    Days on market: 197

    Walk Score?: 23

  22. 4 beds, 6.0 baths

    Home size: 5,135 sq ft

    Lot size: 3,150 sq ft

    Year built: 1987

    Parking spots: 2

    Days on market: 7

    Walk Score?: 48

  23. 0 beds, 0 baths

    Home size: 2,655 sq ft

    Lot size: 12,763 sq ft

    Year built: 1980

    Parking spots: 19

    Days on market: 337

    Walk Score?: 86

  24. 0 beds, 0 baths

    Home size: 5,160 sq ft

    Lot size: 3,310 sq ft

    Year built: 1972

    Days on market: 282

    Walk Score?: 45

  25. 0 beds, 0 baths

    Home size: 4,500 sq ft

    Lot size: 3,081 sq ft

    Year built: 1986

    Parking spots: 14

    Days on market: 78

    Walk Score?: 80

  26. 3 beds, 3.5 baths

    Home size: 2,300 sq ft

    Year built: 1990

    Parking spots: 2

    Days on market: 32

    Walk Score?: 77

  27. 3 beds, 2.5 baths

    Home size: 2,331 sq ft

    Year built: 2003

    Parking spots: 3

    Days on market: 44

    Walk Score?: 86

  28. 4 beds, 3 full, 1 part baths

    Home size: 4,805 sq ft

    Lot size: 3,297 sq ft

    Year built: 1999

    Parking spots: 8

    Days on market: 85

    Walk Score?: 37

  29. 0 beds, 0 baths

    Home size: 2,600 sq ft

    Lot size: 3,136 sq ft

    Year built: 1969

    Parking spots: 4

    Days on market: 218

    Walk Score?: 68

  30. 3 beds, 4.5 baths

    Home size: 3,469 sq ft

    Lot size: 3,150 sq ft

    Year built: 1998

    Parking spots: 3

    Days on market: 23

    Walk Score?: 37

Listing information deemed reliable but not guaranteed. Read full disclaimer.

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Raisins and soy may ward off high blood pressure

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Kazakhstan angry spoof anthem played at event

(AP) ? Kazakhstan has labeled the playing of a spoof of its national anthem at an international sporting event "a scandal," and demanded a probe into the incident.

Maria Dmitrienko won a gold medal for Kazakhstan on Thursday at the Arab Shooting Championships in Kuwait, but during the awards ceremony the public address system broadcast the spoof anthem from the 2006 movie "Borat," which offended many Kazakhs by portraying the country as backwards and degenerate.

Foreign ministry spokesman Ilyas Omarov told the ITAR-Tass news agency the incident "is, of course, a scandal and demands a thorough investigation, which we intend to conduct."

ITAR-Tass reported shooting team member Oksana Stavitskaya as saying that Asian Shooting Federation President Sheikh Salman al-Sabah had apologized to the team.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/aa9398e6757a46fa93ed5dea7bd3729e/Article_2012-03-24-AS-Kazakhstan-Anthem-Scandal/id-db81f6ea0c3e47f4b93f0e7c1a61e8d6

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Swedish equality fades away as rich get richer

STOCKHOLM (Reuters) - Fredde and Mickan own a waterfront mansion in the Stockholm suburbs, hire Polish help and have endless cash to spend on state-of-the-art barbecues and designer labels.

They are only characters in "The Sunny Side", a popular Swedish television series, but they drew so much attention to their wealthy neighborhood that an activist group called "Everything for Everyone" chose it for a class war safari.

The tour of the "rich man's ghetto" promised to "cultivate your class hatred". It was a one-off and participants were pelted with eggs but it sparked a soul-searching over growing income disparities in a country known for egalitarian values.

"I think many people would say this is the loss of one part of Swedish identity," said Michael Forster, a senior policy analyst at the Organisation for Economic Cooperation and Development (OECD).

Sweden has seen the steepest increase in inequality over 15 years amongst the 34 OECD nations, with disparities rising at four times the pace of the United States, the think tank said.

Once the darling of the political left, heavy state control and wealth distribution through high taxes and generous benefits gave the country's have-nots an enviable standard of living at the expense of the wealthiest members of society.

Although still one of the most equal countries in the world, the last two decades have seen a marked change. Market reforms have helped the economy become one of Europe's best performers but this has Swedes wondering if their love affair with state welfare was coming to an end.

The real tipping point came in 2006 when the centre-right government swept to power, bringing an end to a Social Democratic era which stretched for most of the 20th century.

Swedes had grown increasingly weary of their high taxes and with more jobs going overseas, the new government laid out a plan to fine-tune the old welfare system. It slashed income taxes, sold state assets and tried to make it pay to work.

Spending on welfare benefits such as pensions, unemployment and incapacity assistance has fallen by almost a third to 13 percent of GDP from the early nineties, putting Sweden only just above the 11 percent OECD average.

At the other end of the spectrum, tax changes and housing market reforms have made the rich richer.

Since the mid-80s, income from savings, private pensions or rentals, jumped 10 percent for the richest fifth of the population while falling one percent for the poorest 20 percent.

RICH MAN, POOR MAN

Critics say the changes have left many behind.

In a small, dim room in central Stockholm, about 20 homeless Swedes huddled together for an hour-long radio show which they produce weekly to raise awareness of those on the streets.

"The soul of a man" - a song from the Great Depression in the United States - plays in between speakers and poetry readings while they warm up with free coffee and hot dogs.

At a waterfront conference centre across town, the head of the region's biggest bank defended the hefty profits banks are making on housing loans.

The CEO himself will soon be moving into a more than $3 million apartment which the bank recently purchased in one of Stockholm's ritziest neighborhoods.

Eurostat said recently that after Bulgaria, Sweden had the second biggest rise in the percentage of its population deemed at-risk-of poverty.

Jenny Lindroth, who runs the social department at Situation Sthlm, a magazine sold by the homeless and addicts, says welfare changes are hurting the vulnerable. "Some people can't live up to it, they can't take it, they can't handle it," she said.

The number of people selling Situation has more than doubled to about 500 in five years and they are getting younger.

A recent study by the National Board of Health and Welfare showed a 25 percent jump to 4,500 in the number faced with "acute" homeless situations - those who required emergency accommodation, shelter or slept outdoors - compared with 2005.

NO UTOPIA

These diverging pictures of Sweden are increasingly common and are also being seen in neighboring Finland and Denmark, albeit at a slower pace.

"I certainly don't think Sweden is a utopia. Sweden has become much more of a fairly normal European country," said Stefan Folster, chief economist at the Confederation of Swedish Enterprise.

On the class war safari, participants were first bused through a neighborhood south of Stockholm, where some 10 percent of the residents are on social benefits.

Then they headed to "The Sunny Side", stopping by a luxury hotel next to a marina which is packed with gleaming yachts in the summer before viewing sprawling villas in the area.

"The differences were just so completely clear in these two areas," said 28-year-old Anna Svensson, one of the organizers. "We wanted to show what it really looked like, and where the money and the power can actually be found."

The tour was heavily criticized. A columnist for the daily Dagens Nyheter called it "a dangerous experiment in group hate".

"It feels like we are being treated like animals," a teenager from the area interviewed by Swedish television.

Some believe the latest trends in Sweden may hurt the centre-right government, especially if unemployment, running near 8 percent, remains high as the country heads towards new elections in 2014.

"This is going to be ammunition for the opposition in Sweden," said Soren Holmberg, a political science professor at Gothenburg University.

He believes there is still fundamentally strong support for the welfare state and that the jobless rate and changes to benefits such as healthcare will be increasingly in focus.

The government has defended its policies. Finance Minister Anders Borg called the rising income gap "troublesome" but said it was still low relative to other countries.

"While it is important to have a cohesive society, growth and social flexibility are also important, so those must be balanced," he said.

Markus Jantti, a Professor of Economics at Stockholm University's Swedish Institute for Social Research, fears Sweden will see a long period of rising inequality.

"The question to be asked is, how big growth in differences across the distribution are we willing to see... By the time we are finished with this it may well be the loss of Swedish identity," he said.

($1 = 6.7640 Swedish crowns)

(Reporting by Mia Shanley; Editing by Alistair Scrutton and Anna Willard)

Source: http://news.yahoo.com/swedish-equality-fades-away-rich-richer-143722298.html

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