Financial Community: International Lawsuits Begin to Build Momentum Against Wall Street Thugs

The Argentinian government has filed a lawsuit against Wall Street firm CitiGroup over debt repayments that Argentine officials say violate national laws, reported The Guardian.

Part of the lawsuit states that the country seeks to file criminal charges against employees of the Argentinian arm of CitiGroup. The bank said in a filing with the Securities and Exchange Commission that Argentine officials had “taken certain adverse actions against Citi Argentina, including filing a lawsuit against Citi Argentina and instituting a suspension of certain activities.”

Because of this bad debt deal, the Argentine government wants not only to file charges against CitiGroup employees, but implement sanctions that bar any future operations within the country. This dispute between Argentina and CitiGroup comes during friction between the country and two other financial institutions, NML Capital and Aurelius Capital Management.

The two institutions did not accept a deal to restructure Argentina’s national debt. Argentina apparently owes a “holdout” debt of $1.3 billion to the two hedge funds, and U.S. judge Thomas Griesa ruled that it must pay that amount before receiving a restructuring deal.

Because Argentina senses a banking scam run by CitiGroup and accuses Griesa of being a banking crony, the country has ignored the judge’s ruling and blocked Citi’s capital market operations and suspended the leader of Citi’s Argentine operations, Gabriel Ribisich — who has been accused of misconduct.

The BBC recently reported that CitiGroup may plead guilty to accusations of manipulating exchange rates in foreign currency markets. Wall Street and Griesa’s cronyism have backed Argentina in a tough spot. Unrealistic expectations and international bullying pushed the country into default as Argentina is refusing to pay the hedge funds, NML and Aurelius.

Read more: International Lawsuits Begin to Build Momentum Against Wall Street Thugs

Italy: Catholic Church and Equal Rights - Anti-Gay Pope Francis Meets Sweden's Antje Jackelén Female Head Of Lutheran Church

The Vatican made history Monday when Pope Francis welcomed a woman archbishop to an official audience at the Apostolic Palace for the first time, according to Vatican Radio.

Archbishop Antje Jackelén, the first female head of the Lutheran Church of Sweden, tweeted her gratitude for the meeting to the pope, with a photograph of the two religious leaders chatting.

The pontiff has staunchly opposed ordination for women in the Catholic Church. “The Church has spoken and says no... That door is closed," he said in a July 2013 press conference.

The topic on Monday's agenda was not, however, women's role in the church, but rather the need for Christian unity across denominations and for better care for the poor. Francis addressed the archbishop as "esteemed Mrs. Jackelén, esteemed sister" in his call for charity.

“The call to unity as followers of Our Lord Jesus Christ includes an urgent call for a common effort on the charity front," Francis said, according to Vatican Insider. "The testimony of our brothers and sisters especially, pushes us to grow in fraternal communion."

Note EU-Digest:  in the meantime it was reported that the Pope - who in some eyes is a "wolf in sheep's clothing", has personally met with France’s proposed Gay ambassador to the Vatican – to tell him his appointment will be blocked because he is gay.

Read more: Pope Francis Meets With Female Head Of Church Of Sweden, Archbishop Antje Jackelén

Privacy Rights: US Spy Scandal - N.S.A. Collection of Bulk Call Data Is Ruled Illegal - C.Savage and J.Weisman

NSA is never far away

A US federal appeals court in New York on Thursday ruled that the once-secret National Security Agency program that is systematically collecting Americans’ phone records in bulk is illegal.

The decision comes as a fight in Congress is intensifying over whether to end and replace the program, or to extend it without changes.

In a 97-page ruling, a three-judge panel for the United States Court of Appeals for the Second Circuit held that a provision of the U.S.A. Patriot Act, known as Section 215, cannot be legitimately interpreted to allow the bulk collection of domestic calling records.

The provision of the act used to justify the bulk data program is to expire June 1, and the ruling is certain to increase tension that has been building in Congress.

It also comes as controversy over electronic surveillance is building in Europe, including a push in France to increase domestic spying and a decision by Germany to reduce cooperation on surveillance with the United States.

The ruling puts new pressure on Senator Mitch McConnell of Kentucky, the majority leader, to make serious changes to the Patriot Act, which he has so far aggressively defended against any alteration, even as recently as Thursday on the Senate floor. Mr. McConnell has pressed to maintain the N.S.A.’s existing program against bipartisan efforts to scale it back, and has proposed simply extending the statute by the June 1 deadline.

Read more: N.S.A. Collection of Bulk Call Data Is Ruled Illegal - NYTimes.com

Britain: Conservative Party wins election, but no absolute majority - by by Sarah Joanne Taylor

Voting has closed in the UK’s tightest general election in decades. Exit polls suggest The Conservatives will come out on top, with a predicted 316 seats. Labour are expected to come out second, on 239 and the Scottish SNP third, with some 58 seats.

Read more: [LIVE] #GE2015: exit polls suggest Conservatives will win but without a majority | euronews, world news

The Netherlands: 389 years ago, on May 6, 1626, the Dutch purchased Manhattan - today's New York

Dutch purchase Manhattan, today's New York, May 6,  1626

Towards the end of the 1500's the Dutch were the first country in the world to create a Multi-National Corporation and Amsterdam became the world's leader in shipping, banking, insurance and commerce.

Rembrandt also painted his masterpieces during that time in Amsterdam.

As a result of the Reformation business and religion mixed easily and  their combined intellectual and entrepreneurial efforts brought great prosperity to the Netherlands.

When Spain and Portugal forced Sephardic Jews to flee, some went to the Netherlands, which was Europe’s center of religious toleration and also to the Ottoman Empire ( today's Turkey)

Jews migrated to Holland’s largest city of Amsterdam, which in the 1600s became the wealthiest city in the world.

The Republic of the Seven United Netherlands was in its golden age from 1568 until Napoleon, being one of the few nations not to have a king occupied the Netherlands.

From 1575 on, Holland’s University of Leiden was a center for the studies of Hebrew, Aramaic and Syriac, with a Jewish rabbi as a the leading professor.

The original Pilgrims also lived in Leiden before sailing to Massachusetts, and identified themselves with the ancient Hebrew republic.

Medieval Europe forbade paying interest – the sin of usury – but after the Reformation, Amsterdam was where some of the first corporations were started, such as the Dutch East India Company.

Individuals could invest in an expedition of ships going around the world for spices and when the ships returned, interest or “dividends” were paid to the investors from the profit.

If an individual wanted to sell his piece of ownership, he could at the first Amsterdam Stock Exchange. Individual investors had limited liability, only risking the amount they invested. In case the ships sank or were captured by Muslim Barbary pirates, as a consequence the Dutch also invented insurance companies.

On May 6, 1626, Peter Minuit, Dutch governor of the New Netherlands Province, gave 60 guilders of brass buttons, scarlet cloth and trade goods to the Manhattan Indian tribe in exchange for Manhattan Island,  today's New York

The Articles for the New Netherlands’ Colony, issued by the Chamber of Amsterdam, 1624, stated: “They shall within their territory practice no other form of divine worship than that of the Reformed religion … and thus by their Christian life and conduct seek to draw the Indians and other blind people to the knowledge of God and His word, without, however, persecuting any on account of his faith, but leaving each one the use of his conscience.”

New Netherlands’ original Charter of Freedoms and Exemptions, June 1, 1629, stated: “Patroons and colonists shall in particular, and in the speediest manner, endeavor to find out ways and means whereby they may support a Minister and Schoolmaster, that thus the service of God and zeal for religion may not grow cool and be neglected among them, and they shall, for the first, procure a Comforter of the sick there.”

The Dutch set up a New Amsterdam Stock Exchange along the wall of their fort. After a series of Anglo-Dutch Wars, the city of New Amsterdam was unfortunately taken over by the British and renamed New York City.

The New Amsterdam Stock Exchange then became the New York Stock Exchange on Wall Street and the rest is history.

EU-Digest

Germany: Germans will never forget ‘unfathomable horrors’ at death camps, says Merkel

Germans will never forget the “unfathomable horrors” the Nazis inflicted at death camps.

The words of Chancellor Angela Merkel, as she addressed a ceremony marking the 70th anniversary of the liberation of the Dachau concentration camp near Munich.

In a moving speech to 120 elderly survivors from 20 nations and six US soldiers who helped liberate the camp, Merkel said Dachau and other death camps freed near the end of World War Two stand as eternal reminders of the Nazi regime’s brutality.

“These former concentration camps have come into public focus in recent weeks with the passing of the 70th anniversaries of the liberation of one camp after another,” Merkel said at Dachau, now a memorial with 800-thousand annual visitors.

“There were unfathomable horrors everywhere,” she continued.
“They all admonish us to never forget. No, we will never forget. We’ll not forget for the sake of the victims, for our own sake, and for the sake of future generations.”

Read more: Germans will never forget ‘unfathomable horrors’ at death camps, says Merkel | euronews, world news

The Netherlands:: Last MH17 Crash Remains Arrive in Netherlands - "poor performance Dutch Government"

A flight carrying the last remains of Dutch victims killed in last year's MH17 plane crash in rebel-held territory in eastern Ukraine arrived in the Netherlands on Saturday.

The Dutch air force C-130 plane landed shortly before 4.00 pm (1400 GMT) at the Eindhoven air force base carrying seven coffins, live video on Dutch news website nu.nl showed.

All 298 passengers and crew on board the Malaysia Airlines jetliner -- the majority of them Dutch -- died when the plane was shot down on July 17 last year.

Note EU-Digest: this is absolutely scandalous that it took some 10 months before all the remains of the victims were recovered,  as all the official authorities kept pointing fingers at everyone exept themselves. The main culprit, however, who should receive most of the blame for this poor performance, must be the Dutch Government, who were in charge of the recovery operation and unfortunately avoided taking any kind of firm action, including military action, at all cost . Instead they blamed Ukraine, the Russian Rebel forces, red tape etc. Bad job ! 

Read more: Last MH17 Crash Remains Arrive in Netherlands