Overnight Markets -Leading News -Update 3

 Iran Enters  Nuclear Age- Loads Reactor

I took 2 courses in Nuclear engineering and was a complete FAIL although I got the highest grade as I came out of the brainwashing completely opposed to these things. I hate nuclear power. About the only nuclear power I supported back then was PBMR for off world applications or remote mining sites. And 40 years later , GASP the USA government has come to the same conclusions. All nuclear power development is for one purpose only in this present age. Nuclear weapons. You would not believe the computing power you need to design a nuclear power plant. Even today they barely have it. We can thank the United States Navy and its evil scion General Electric when we are all dying from radiation related illnesses. The Germans have it right shut it down. Of course the Germans have no nuclear engineer capability ex the Russian engineers that immigrated to their University system.  The Germans have found their niche in the world. They are the Boeing of the Automotive industry, pretty much the gold standard now that they ripped/stripped Chrysler of its robotic technology and improved it.  The Germans I think are bigger than Toyota right now.


European Stock Advance as Samaras Caves and Wen Gets PBOC in line


Iran Halts Oil Shipments to EuroZone -Thugs

They wanted it, they got it. Hope its a long cold winter for the Ziocrats of Europe. Hope your people don’t freeze Smirkel and Sarkozy. Hope their cars start. Enjoy England/ BP’s oil corner out of London. Many Warm Hebrews this winter. Many freezing to death Europeans. So sad how many have to die for Israel in Europe. Like enough did not die during WW1/WW2.


City of London Threatens Putin

Oh yes the Russians long for another Hebrew to rule over  them like Stalin or Lenin or Gorbachev or Yeltsin(married to one). Greasy City of London boy Kasparov who live in NYC most of the time is the big Zionist puppet here. Putins approval ratings are near 70 pc. So there are 120k hardline communist/hebrews who showed to protest Russian Nationalism, so what. The American elections are fixed far beyond even what the Stalin did. At least he did not make a cruel farce out of having a democratic vote. Morti Zuckerman’s liars at Businessweek. The man is despicable like Rupert Murdoch.


China Happy With Greek Prostration-Says it will Invest Now

China pledged to invest in Europe’s bailout funds and sustain its holdings of euro assets, spurring gains in the currency and Asian stocks on optimism the region’s debt crisis will be overcome.

“China will always adhere to the principle of holding assets of EU sovereign debt,” People’s Bank of China Governor Zhou Xiaochuan said in Beijing today. “We would participate in resolving the euro debt crisis,” he said, echoing comments by Premier Wen Jiabao yesterday.

The remarks offer a carrot to European finance ministers, who are increasing pressure on Greece to deliver budget cuts in exchange for a second bailout. At stake for China is helping to stabilize the economy of its largest export market amid a global slowdown that has curtailed growth in Chinese shipments abroad.

“Wen and Zhou are giving the best support China can offer now, which is to send out positive messages such as promising not to cut euro assets and to buy European bonds to help bolster market confidence,” said Shen Jianguang, a Hong Kong-based economist at Mizuho Securities Asia Ltd. who previously worked at the European Central Bank. “How much and when China will buy will depend on its foreign-exchange investment strategy — when they find the pricing and exchange rate favorable.”

The MSCI Asia-Pacific Index of shares advanced 1.9 percent at 6:43 p.m. in Tokyo, heading for the biggest increase in a month. The euro strengthened 0.3 percent to $1.3168…..


Greasy Mervyn King Blames EU for Woes


Euro-Area Economy Contracts for the First Time Since 2009

Europe’s economy shrank less than economists forecast in the fourth quarter as a better-than- predicted performance in Germanyand France helped mitigate the region’s first contraction since 2009.

Gross domestic product in the 17-nation euro area fell 0.3 percent from the prior three months, the first drop since the second quarter of 2009, the European Union’s statistics office in Luxembourg said today. Economists had forecast a drop of 0.4 percent, the median of 42 estimates in a Bloomberg News survey shows. In Germany, Europe’s largest economy, GDP dropped less than economists projected in the fourth quarter, while France’s economy unexpectedly expanded in that period.

German companies have boosted output and spending over the past year to meet export demand, helping soften the impact of tougher budget cuts from Spain to Ireland. While Moody’s Investors Service cut the ratings of six of the region’s member states on Feb. 13, saying policy makers haven’t done enough to restore investor confidence, the economy is showing some signs of stabilization. Euro-region economic sentiment improved in January and services output expanded.

It could have been worse,” said Martin van Vliet, an economist at ING Group in Amsterdam. “The debt crisis has thrown the euro-zone recovery into reverse. The recent improvement in leading indicators suggests there is a fair chance that the euro-zone economy as a whole might not shrink further in the first quarter.”

Economic Stabilization

The euro was little changed against the dollar after the data, trading at $1.3174 at 11:19 a.m. in Frankfurt, up 0.3 percent on the day. The Euro Stoxx 50 Index advanced as much as 1.1 percent, reversing yesterday’s losses.

Recent surveys indicate the pace of contraction won’t accelerate in the current quarter. Euro-region services output expanded in January after shrinking in the previous four months and economic confidence increased the first time in almost a year. In Germany, investor confidence jumped to a 10-month high in February and business sentiment rose in January.

European Central Bank President Mario Draghi has pointed to signs of stabilization in the euro-area economy and said the ECB averted a credit crunch with its three-year loans to lenders in December. The central bank will offer a second round of financing, known as LTRO, at the end of this month.

‘Growth Pause’

German GDP fell 0.2 percent from the third quarter, when it rose 0.6 percent, the Federal Statistics Office in Wiesbaden said today. Economists in a Bloomberg survey forecast a drop of 0.3 percent. France’s economy grew 0.2 percent in that period.

“The German economy only took a growth pause and is not approaching a new recession,” said Carsten Brzeski, a senior economist at ING Group in Brussels. “Of course, a quick rebound is not an automatism and the big unknown for the German economy remains the sovereign-debt crisis.”

Governments across the euro region may find it harder to plug their budget gaps as an economic slump deepens. Greece’s GDP slumped 7 percent in the fourth quarter from a year earlier, according to a report yesterday. The economies of Spain, Belgium, the Netherlands, Italy and Portugal also contracted in the final three months of 2011.

Brussels Meeting

In the 27-member EU, GDP dropped 0.3 percent in the fourth quarter after rising 0.3 percent in the previous three months. In Hungary, the economy expanded 0.3 percent from the third quarter, while Bulgarian GDP advanced 0.4 percent and the Czech Republic reported a drop of 0.3 percent, reports showed today.

European finance ministers canceled a Brussels meeting slated for today and will hold a teleconference instead to prod Greece to do more to clinch an aid package worth 130 billion euros ($171 billion), along with about 100 billion euros of debt relief from private bondholders. Greece needs more money to make a 14.5 billion-euro bond payment on March 20.

“I did not yet receive the required political assurances from the leaders of the Greek coalition parties on the implementation of the program,” Luxembourg Prime Minister Jean- Claude Juncker, who heads meetings of euro-region finance ministers, said yesterday. He pressed for “further technical work” on Greek budget cuts.

More than two years after the debt crisis emerged in Greece, European leaders face international pressure to do more to tackle the source of contagion that threatens to drag down the global economy. Group of 20 nations have signaled they won’t reach a consensus on crisis aid for Europe via the International Monetary Fund at a Feb. 24-26 meeting of finance chiefs until Europe increases the size of its firewall.

‘Severe Implications’

The Bank of England said today the U.K. economy remains weak because of the government’s fiscal squeeze and the euro- region debt crisis, saying that failure to end the turmoil would have “severe implications” for growth. The central bank started a 50 billion-pound ($78 billion) round of bond purchases this week after the economy shrank in the fourth quarter.

The region’s crisis is also affecting companies. BNP Paribas SA (BNP), France’s largest bank, said today that fourth- quarter profit dropped 51 percent, hurt by writedowns on Greek sovereign debt. MAN SE (MAN), the German truckmaker controlled by car manufacturer Volkswagen AG (VOW), said yesterday that sales and operating profit will decline in 2012 as the debt crisis discourages companies from investing.

Euro Recession

“Despite some recent improved euro-zone surveys and evidence that Germany is returning to growth, we doubt that the euro zone will be able to avoid further contraction in the first quarter,” said Howard Archer, chief European economist at IHS Global Insight in London. “We expect the euro zone to start growing gradually again during the second half.”

In a separate report today, the EU statistics office said that euro-region exports rose 0.1 percent in December from the previous month, when adjusted for seasonal swings. Imports fell 0.9 percent from November and the trade surplus widened to 7.5 billion euros from 6.1 billion euros.

Some companies are relying on faster-growing markets to bolster sales. Hermes International SCA (RMS), the French maker of Birkin bags, reported full-year sales on Feb. 9 that beat its own forecast, led by a 29 percent surge in Asia. The same day, Daimler AG (DAI) forecast higher 2012 profit than analysts had predicted, propelled by record demand for Mercedes-Benz cars.

“The U.S. certainly is the bright spot as far as the development in the recent months is concerned,” Daimler Chief Executive Officer Dieter Zetsche said. “We see a buildup in momentum there. We’re bullish about the further development in China.”

The euro region’s statistics office is scheduled to publish the breakdown of euro-area fourth-quarter GDP next month.


Samaras Caves

Reuters) – Greek conservative leader Antonis Samaras will send a letter of commitment to the terms of an EU/IMF bailout deal within the day, a party source said on Wednesday, with the country’s bankruptcy rescue hanging in the balance.

Euro zone finance ministers had cancelled face-to-face talks on the 130-billion-euro ($170 billion) deal on Wednesday, saying they had yet to receive written pledges from Greek political party leaders to stick to punishing spending cuts, or clarification of all the savings.

“The letter will be dispatched within the day,” a New Democracy party source told Reuters on condition of anonymity. Doubt has focused on Samaras, Greece’s likely next prime minister and a strong critic of the austerity measures.

Ministers of the Eurogroup downgraded the Brussels meeting — originally planned for 1700 GMT — to a conference call.

Greece needs the funds by next month to avoid a messy bankruptcy.

The Eurogroup is next due to meet on Monday, but Greece has said it must initiate a debt swap deal with private sector bondholders by Friday if it is to meet a March 20 for 14.5 billion euros in debt repayments.

The Eurogroup had asked Greece to clarify how it would fill a 325-million-euro gap in budget cuts promised for 2012 and to persuade all party leaders to sign a commitment to implement austerity measures after an election expected in April.

“It’s true we are asking the Greeks for some extremely painful sacrifices and I understand their anger, but Greece has made many errors in its past,” French Foreign Minister Alain Juppe told France Info radio on Wednesday.

“It (the bailout) must be concluded because if Greece went bankrupt and left the euro zone, the chaos would be even worse for the Greek people and very bad news for the euro zone.”

The cabinet of Prime Minister Lucas Papademos discussed the gap in the 3.3-billion-euro austerity program late into Tuesday evening. But there was no official clarification of where the savings would come from.


Samaras has criticized the punishing new cuts in wages, pensions and jobs adopted by parliament early on Monday as rioters wrecked buildings across central Athens.

He voted for the bill, and expelled a quarter of his deputies who did not. But he says the cuts could plunge the country, already in its fifth year of recession, into an even bigger slump.

When parliament debated the austerity package on Sunday Samaras indicated that he would try to renegotiate the terms of the bailout, increasing doubt in the minds of European leaders.

“The timeline to 20 March is getting tighter, but Europe is still more likely than not to rescue Greece from disorderly default,” Christian Schulz, senior economist at Berenberg bank, said in a note.

Some EU leaders have suggested Athens should leave the euro zone currency union.

The EU and IMF want Greece to account for every cent of budget cuts before they approve the rescue, which includes a bond swap, cutting the real value of private sector investors’ bond holdings by some 70 percent.

But Greece’s downward economic spiral has accelerated. Data on Tuesday showed that the economy shrank by seven percent in the fourth quarter of last year, even more than the five percent contraction of the third quarter.

Greece is well on its way to suffering one of the biggest slumps of modern history. Gross domestic product has contracted 16 percent from its peak and the austerity will make that worse.

Papademos has said that failure to back the bailout would consign Greece to economic catastrophe.

But with many Greeks suffering huge cuts in their living standards and young people burning and wrecking almost 100 Athens buildings in one night on Sunday, some people believe the catastrophe is already under way.

“On the current path – which is not sustainable in my view – we may very well see Greek GDP go down 25-30 percent, which would be historically unprecedented. It’s a disastrous crisis for them,” said Uri Dadush, at the Carnegie Endowment think tank in Washington.

That would put Greece in the same league as the United States, where the economy shrank 29 percent during the Great Depression.


Seismic Experts Say Shore Up Fukushima Now!


Iranians Say Israeli False Flag

TEHRAN - In response to claims by Israel that Tehran is responsible for bomb attacks on its diplomats’ cars in India and Georgia, an Iranian lawmaker says that the terrorist acts are being carried out by Tel Aviv itself with the aim of diverting attention from the assassination of Iranian scientists by the Mossad.

“The Zionist regime has pointed the finger at the Islamic Republic of Iran to acquit itself from the assassination of our country’s scientists and divert the world public opinion in this regard,” Esmaeil Kowsari told the Mehr News Agency on Tuesday.
Kowsari who sits on the Majlis National Security and Foreign Policy Committee also said it is not unprecedented that Israelis take such actions against themselves in order to achieve their “mischievous” political purposes.
The Israeli regime takes such actions against itself in order to play on other nations’ sympathy, the lawmaker commented.


Israelis already have oily fingers on Greek Oil Bonanza- Turks Livid!! 


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