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Sean Kuti slams IMF austerity in new album – le mag

Seun Kuti and his band Egypt 80 have been giving fans a taste of their new album with the release of the video for the opening track ‘IMF’.

With lyrics like “My people are coming for what’s ours” and “Breakin’ the chain”, the Nigerian musician takes a stab at the International Monetary Fund.

“Twenty years ago, IMF was an African devil, only Africans understood the evil of IMF. Europeans didn’t see. Austerity was an African thing, but now austerity is a worldwide phenomenon. Everybody understan…
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Gang leader who stole priceless artworks jailed in Romania

A Romanian court has sentenced the ringleader of a gang that stole famous paintings from a Dutch…

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A Romanian court has sentenced the ringleader of a gang that stole famous paintings from a Dutch museum to more than six years and eight months in prison.

Radu Dogaru pleaded guilty earlier this year to stealing the artworks including paintings by Picasso, Matisse and Monet, from Rotterdam’s Kunsthal museum.

It was one of the world’s biggest art heists and the paintings have never been found.

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OECD chief urges banks to lend more

OECD Secretary General Angel Guirra met with MEPs on Tuesday to share his outlook for Europe’s…

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OECD Secretary General Angel Guirra met with MEPs on Tuesday to share his outlook for Europe’s economy.

The OECD sees eurozone growth of 1 percent next year, hitting 1.6 percent in 2015.

Gurria told that banks need to increase lending to homes and businesses to fire up European growth once more.

“It’s not enough that the banks don’t go bankrupt.They have to lend. The problem is that they are not lending,” he told euronews’ Efi Koutsokosta.

“Governments can help by providing some guarantees maybe, some incentives, by sharing some of the initial losses.”

The former Mexican finance minister will be in the Greek capital of Athens on Wednesday when the OECD will unveil its latest report on the country’s economy.

Mr Gurria told euronews: A country like Greece which is not yet out of the programme is vulnerable and needs support. There’s work to be done in terms of collecting taxes and privatization. There’s work to be done in the fundamental elements of competitiveness, in education, innovation issues.”

Greece’s debt pile currently stands at 175.5 percent of GDP.

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Portugal: Anti-austerity protesters occupy government ministries

It was the final straw for some in Portugal.
…

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It was the final straw for some in Portugal.

As parliament passed the 2014 budget on Tuesday, paving the way for more cuts, austerity-weary trade unionists occupied four government ministries for several hours in protest.

Public sector workers are set to face salary cuts of up to 12 percent as well as reductions to their pensions.

“I am nearing retirement and, after 40 years of working, I don’t think I will have enough of a pension to live on. It’s really borderline,” said one elderly woman.

Some marched to parliament, denouncing what will be a third straight year of austerity. The government says cuts are “inevitable” as it struggles to reduce the deficit but many on the sharp end are not convinced.

“They drive people to despair, suicide and starvation,” said another elderly woman. “It can’t go on like this. This is not what the people wanted.”

The opposition has vowed to challenge some measures in the Constitutional Court. But the ruling centre-right coalition is determined to satisfy Portugal’s international lenders and avoid having to ask for a second bailout.

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Ukraine leader tells EU: ‘Don’t humiliate us’

As Ukrainian protesters spent another night braving the cold to demand a European future, their…

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As Ukrainian protesters spent another night braving the cold to demand a European future, their President slammed what the EU is offering his country.

Viktor Yanukovich went on national television to explain his U-turn on signing a trade deal with the bloc, branding its terms on financial aid for Ukraine as humiliating.

“I don’t want to be rude but you don’t have to humiliate us like this,” he said. “You know, we are not little children. You can’t buy us with candy.”

Under economic pressure from Moscow, Yanukovich will instead revive trade talks with Russia. He will, however, still attend this week’s EU summit in Vilnius.

Loreta Grauziniene, the speaker of Lithuania’s parliament, has addressed the crowds in Kyiv, encouraging them to pursue their protests.

“It is a difficult road but you have to follow it with pride,” she said. “I believe in the Ukrainian people. I know you love your country and for the sake of your children and your grandchildren, you will do everything you can for Ukraine to be in Europe.”

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