Sovereign Trust Insurance Plc ( 2010 Annual Report

first_imgSovereign Trust Insurance Plc ( listed on the Nigerian Stock Exchange under the Insurance sector has released it’s 2010 annual report.For more information about Sovereign Trust Insurance Plc ( reports, abridged reports, interim earnings results and earnings presentations, visit the Sovereign Trust Insurance Plc ( company page on AfricanFinancials.Document: Sovereign Trust Insurance Plc (  2010 annual report.Company ProfileSovereign Trust Insurance Plc is an insurance and risk management services company in Nigeria licensed to cover all cases of life and non-life insurance. Products cover the spectrum of travel, quote and buy, family wellbeing, vehicle, 3 rd party motor and marine insurance. Sovereign Trust Insurance Plc was established following the restructuring and recapitalisation of the then Grand Union Assurances Limited. Its head office is in Lagos, Nigeria. Sovereign Trust Insurance Plc is listed on the Nigerian Stock Exchangelast_img read more

Diamond Trust Bank of Kenya Limited ( 2015 Abridged Report

first_imgDiamond Trust Bank of Kenya Limited ( listed on the Nairobi Securities Exchange under the Banking sector has released it’s 2015 abridged results.For more information about Diamond Trust Bank of Kenya Limited ( reports, abridged reports, interim earnings results and earnings presentations, visit the Diamond Trust Bank of Kenya Limited ( company page on AfricanFinancials.Document: Diamond Trust Bank of Kenya Limited (  2015 abridged results.Company ProfileDiamond Trust Bank of Kenya Limited is a financial services and insurance group providing products and services to clients in Kenya, Tanzania, Uganda and Burundi. The company offers a diverse range of products for transactional banking as well as a full service offering for mortgages, asset financing and an insurance premium finance facility. Its treasury services include spot and forward foreign exchange transactions, cross currency swaps and deals, fixed income securities, corporate bonds, fixed income securities, structured treasury products and money market products. Its trade finance services include letters of credit, documentary and clean collections, negotiation of export bills, suppliers credit financing and bank guarantees. Formerly known as Diamond Trust of Kenya, the company changed its name to Diamond Trust Bank Kenya Limited in 1997. Its head office is based in Nairobi, Kenya. Diamond Trust Bank of Kenya Limited is listed on the Nairobi Securities Exchangelast_img read more

Williamson Tea Kenya Limited ( 2016 Annual Report

first_imgWilliamson Tea Kenya Limited ( listed on the Nairobi Securities Exchange under the Food sector has released it’s 2016 annual report.For more information about Williamson Tea Kenya Limited ( reports, abridged reports, interim earnings results and earnings presentations, visit the Williamson Tea Kenya Limited ( company page on AfricanFinancials.Document: Williamson Tea Kenya Limited (  2016 annual report.Company ProfileWilliamson Tea Kenya Limited cultivates, manufactures and sells tea in Kenya and exports to international markets. The company operates tea farms in Changoi, Kaimosi, Kapchorua and Tinderet. It is a fifth-generation tea farming business committed to growing high quality green tea leaf and produces a selection of loose-leaf tea and loose-leaf teabags. Well-known brands in its product range include Duchess Grey, Traditional Afternoon, Lifeboat Tea, Kenya Earth, Green Earl Grey, Purple Blush, Mint Garden, Earl Grey Purple, Purple Matcha and Green Matcha. Williamson Tea Kenya Plc also has interests in property investment and has a division which sells and services generators. Williamson Tea Kenya Plc is a subsidiary of Ngong Tea Holdings Limited. The head office is in Nairobi, Kenya. Williamson Tea Kenya Limited is listed on the Nairobi Securities Exchangelast_img read more

Axia Corporation Limited 2017 Abridged Report

first_imgAxia Corporation Limited ( listed on the Zimbabwe Stock Exchange under the Retail sector has released it’s 2017 abridged results.For more information about Axia Corporation Limited ( reports, abridged reports, interim earnings results and earnings presentations, visit the Axia Corporation Limited ( company page on AfricanFinancials.Document: Axia Corporation Limited (  2017 abridged results.Company ProfileAxia Corporation Limited is a retail enterprise that sells specialty homeware furniture and electrical appliances through 38 nationwide retail outlets; and retails automotive spares across multiple channels with a footprint that stretches to Zambia and Malawi. The company’s core expertise lies in providing a reputable service for inbound clearing and bonded warehousing; ambient and chilled/frozen warehousing services; logistics, marketing, sales and merchandising services. Axia has three business units which include TV Sales & Home (TVSH), a leading furniture and electronic appliance retailer; Transerv, retailing automotive spares, and Distribution Group Africa (DGA), an established distribution and logistics company. Axia Corporation Limited is listed on the Zimbabwe Stock Exchangelast_img read more

Stock market crash: I’d buy bargain FTSE 100 shares today to get rich and retire early

first_imgSimply click below to discover how you can take advantage of this. Enter Your Email Address Investing during a stock market crash to try and improve your retirement prospects may not sound like a sound move. After all, the FTSE 100’s price level could easily move lower in the short run, depending on news regarding coronavirus.However, most investors who are planning for retirement have a long-term time horizon. Therefore, the short-term performance of their portfolio may not be their primary concern. Rather, they’re seeking to gradually build a nest egg from which to draw a passive income in older age.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Therefore, buying undervalued shares in high-quality businesses today could improve your prospects of generating a high return that boosts your chances of retiring early.Time horizonIf you’re seeking to make a profit from the FTSE 100 over the next few months, now may or may not prove to be a buying opportunity. Investor sentiment and the prospects for the economy may change significantly during that time. That could lead to disappointing returns.However, the track record of the stock market shows that, over the coming years, it’s likely to produce a strong recovery. Certainly, coronavirus is an unprecedented challenge facing the world economy. But the FTSE 100’s downturn isn’t the first time it’s dropped by 30%+ in a relatively short space of time. Just over a decade ago, it declined by over 50% – albeit over a matter of months rather than weeks.Following its decline in 2008/09, and after its previous bear markets, the FTSE 100 went on to produce strong returns. For example, it posted record highs a matter of years following the financial crisis. Although such a scenario may seem unlikely at the present time, the track record of the FTSE 100 suggests it’s set to experience a bull market once the current downturn has ended. Therefore, long-term investors may wish to capitalise on its low valuations.Buying todayClearly, it’s difficult to buy stocks while they face hugely difficult near-term prospects. A number of industries are likely to record a severe decline in their sales. Meanwhile, others may face a prolonged period of disruption that weakens the world economy’s performance in the medium term. Furthermore, weak investor sentiment may discourage you from buying shares at the present time.However, by focusing on company fundamentals, you can build a solid portfolio of high-quality stocks. Businesses with large net cash positions, for example, may be in a strong position to survive the economic challenges that are ahead. Likewise, companies that have performed relatively well in previous crises may do the same this time around.Through purchasing stocks while they’re undervalued and offer long-term recovery potential, you can improve the return prospects of your portfolio. This strategy has been successful in previous economic downturns for long-term investors. It could perform well in the coming years and improve your chances of retiring early. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Our 6 ‘Best Buys Now’ Shares Image source: Getty Images. I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Peter Stephens | Saturday, 18th April, 2020 center_img “This Stock Could Be Like Buying Amazon in 1997” I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. See all posts by Peter Stephens Peter Stephens has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Stock market crash: I’d buy bargain FTSE 100 shares today to get rich and retire earlylast_img read more

Bob Poe Convenes HIV Roundtable

first_img Save my name, email, and website in this browser for the next time I comment. Orlando, Fla. – Bob Poe, a Democratic candidate for Florida’s 10th Congressional district, on Friday convened a roundtable on how to combat HIV and the stigma that prevents at-risk Central Florida communities from getting tested and treated.The 10th Congressional District includes Apopka and Northwest Orange County.Dr. Marie-Jose Francois of the Center for Multicultural Wellness and Prevention hosted the roundtable. More than a dozen attendees from around Orlando and Central Florida participated, including people living with HIV, representatives from social services agencies, and community leaders.Attendees identified the lack of HIV education aimed at young people as a key reason new HIV diagnoses are on the rise, and discussed specific ideas to boost outreach to youth communities.“People don’t talk about HIV because of the fear, the shame, and the stigma,” said Bob Poe. “And it keeps people from actually getting diagnosed in the first place, and treated. But there’s stigma about many things in life, like poverty and unemployment, too. So we’re here to figure out what to do, how to do it, and how to make a difference.”“We’re not talking about politics now – we’re in the HIV arena,” said Dr. Marie-Jose Francois. “We know education is very, very important. We know HIV is manageable, but what about the young people who don’t know their status? We’re living in 2016, and there’s a real complacency about HIV. Until there’s a vaccine, education is the only tool we have.”“It’s insane that we have the HIV rate that we have right now,” said one participant. “Part of the reason is that there are so few people open about their status. People have this bizarre idea about what people with HIV are like. They’re like everyone at this table. We’re just like everybody else. But 18, 19, and 20 year-olds aren’t speaking out about it.”Poe made national headlines last week by announcing he has been HIV-positive for the past 18 years, including in The Apopka Voice, Associated Press, MSNBC, CNN, Washington Post, and other outlets. LEAVE A REPLY Cancel reply UF/IFAS in Apopka will temporarily house District staff; saves almost $400,000 Please enter your name here Previous articleWhat Mindfulness Has Taught Me About Father’s DayNext articleApopka files lawsuit against former Administrator Richard Anderson Dale Fenwick RELATED ARTICLESMORE FROM AUTHOR Gov. DeSantis says new moment-of-silence law in public schools protects religious freedom Share on Facebook Tweet on Twitter Florida gas prices jump 12 cents; most expensive since 2014 You have entered an incorrect email address! Please enter your email address here Please enter your comment!last_img read more

Is Jonny back to his best?

first_imgWednesday Oct 10, 2007 Is Jonny back to his best? In years gone by Jonny Wilkinson has developed a reputation as possibly the hardest hitting number ten in world rugby. Memories of Luke McAllister running straight over Irish stand-off Ronan O’Gara in the 2006 NZL vs IRE Test create a rather delicate image for fly-halves. That simply isn’t the case with Wilko, however.Wilkinson has put in massive hits on numerous occasions, and at times actually had shoulder problems from it. Have a look at this huge hit on Emile N’tamackor this great tackle on Justin Bishop.Wallaby captain Stirling Mortlock is by no means a small centre. He’s probably one of the biggest at international level actually. In saturdays Quarter Final ‘upset’, Jonny Wilkinson equals him in the challenge, stopping him in his tracks thus defusing a potential Australian counter-attack. It is somewhat of a rarity seeing a centre run at a flyhalf and not making it over the gain-line.It would’ve taken a brave man to put money on England pulling off a victory over the Wallabies, but with Jonny’s predatory-like defensive work, accurate goal kicking, and a dominant pack of gorillas up front, the England vs France Semi Final could be more even than most people are forecasting, with the World Champions looking like they’re coming back to form at the right time.Jonny has had a bit of trouble with this World Cup ball, and has complained that they’re using replicas on the practice field. But in the big games, surely he would still be the man you would bet your house on when it comes to taking vital kicks or slotting a winning drop.Predictions anyone? Final Score in the quarter final: 12-10 ADVERTISEMENT Posted By: rugbydump Share Send Thanks Sorry there has been an error Related Articles 81 WEEKS AGO scottish prop saves fire victim 84 WEEKS AGO New Rugby X tournament insane 112 WEEKS AGO Vunipola stands by his comments supporting… From the WebThis Video Will Soon Be Banned. Watch Before It’s DeletedSecrets RevealedYou Won’t Believe What the World’s Most Beautiful Girl Looks Like TodayNueeyWrinkle Remedy Stuns TV Judges: Forget Surgery, Do This Once DailySmart Life ReportsHere’s the Purpose of These Little Bumps in the F and J Keys on Your KeyboardNueey10 Types of Women You Should Never MarryNueeyMen, Try This Tonight – You’ll Never Need the Blue Pill Again!Smart Life ReportsThe content you see here is paid for by the advertiser or content provider whose link you click on, and is recommended to you by Revcontent. 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We encourage you to view your opt out options in Revcontent’s Privacy PolicyWant your content to appear on sites like this?Increase Your Engagement Now!Want to report this publisher’s content as misinformation?Submit a ReportGot it, thanks!Remove Content Link?Please choose a reason below:Fake NewsMisleadingNot InterestedOffensiveRepetitiveSubmitCancel ADVERTISEMENT Trending 1 WEEK AGO HUGE controversy sees Borthwick call Pat Lam a liar during heated Prem clash 5 DAYS AGO Melbourne Rebels do their best to wreck Bryn Gatland 4 DAYS AGO Lam’s explanation of bizarre situation that caused heated touchline argument 5 DAYS AGO François Steyn’s ridiculous 60-metre drop goal which left commentators in hysterics 5 DAYS AGO The time Waisale Serevi used his iconic hitch-kick to carve up Scotland in 2000 Great Tries 5 DAYS AGO Eye-opening compilation shows why Taulupe Faletau could harm Springboks this Summer 5 DAYS AGO The time Waisale Serevi used his iconic hitch-kick to carve up Scotland in 2000 1 WEEK AGO Veainu finishes superb try after octopus style offload from Waisea 2 WEEKS AGO FULL MATCH REPLAY: Huge stars on show when All Blacks host Pacific Island XV in 2004 2 WEEKS AGO WATCH: Hooker produces ridiculous speed to score 60-metre wonder try for Hurricanes View All Big Hits & Dirty Play 1 DAY AGO Awesome new Etzebeth montage will have Springboks fans psyched for Summer Lions tour 5 DAYS AGO Melbourne Rebels do their best to wreck Bryn Gatland 5 DAYS AGO Eye-opening compilation shows why Taulupe Faletau could harm Springboks this Summer 5 DAYS AGO Re-live O’Driscoll’s EPIC try-saving tackle in 2003 RWC quarter-final 1 WEEK AGO AWESOME video shows the very biggest and best tackles of the 2020/21 season View All See It To Believe It 4 DAYS AGO Cheetah racer Habana reveals what was actually going through his mind that day 4 DAYS AGO Lam’s explanation of bizarre situation that caused heated touchline argument 5 DAYS AGO François Steyn’s ridiculous 60-metre drop goal which left commentators in hysterics 5 DAYS AGO Re-live O’Driscoll’s EPIC try-saving tackle in 2003 RWC quarter-final 1 WEEK AGO HUGE controversy sees Borthwick call Pat Lam a liar during heated Prem clash View All Funnies 2 WEEKS AGO Joe Marler elated in special interview as fans return to The Stoop 2 WEEKS AGO WATCH: One of the luckiest and most bizarre tries you will EVER see 2 WEEKS AGO WATCH: Reds players caught out in hilarious celebration blooper vs Chiefs 2 WEEKS AGO WATCH: Faz, Piutau and Burns star in hilarious try fail compilation 4 WEEKS AGO MLR: Giltinis howler sees try overruled despite attempts to celebrate View All Amateur 32 WEEKS AGO Viral video of Scottish club brawl goes down a storm with rugby community 69 WEEKS AGO RUGBYDUMP BLITZ: This Best of the Week round up is sure to entertain you 69 WEEKS AGO RD BLITZ – Disaster, just when it looked so promising… 69 WEEKS AGO That glorious moment that will live on forever, like it or not 69 WEEKS AGO RD Blitz – PROP’S Lionel Messi wizardy creates incredible try View All Player Features 16 WEEKS AGO WATCH: Bumping off tacklers and taking high balls, Rob Kearney had an impressive Super Rugby debut 21 WEEKS AGO Brian Moore on money in modern rugby and how it should never be compared to ‘outlier’ football 22 WEEKS AGO Tuisova’s wrecking ball montage will make you grateful you never made it as a pro 28 WEEKS AGO New Zealand rugby pod admit Owen Farrell is world class 29 WEEKS AGO WATCH: Bath prop launches Amazon documentary focused on those from non-traditional backgrounds View All Related Content from the RugbyPass Network ‘What you do today is how you’re going to be remembered’: Spirit of Rugby – Ep 5 In Spirit of Rugby episode 5, Jim Hamilton talks Lions with Matt Dawson, Jeremy Guscott, Rob Kearney, Simon Shaw, Tom Croft and John Bentley. Watch: Reforging the Steelers | Episode 2 | RugbyPass Original Documentary In Episode 2 of Reforging the Steelers, we follow the team through rounds two to four as they try to get their season on track after an opening loss to competition powerhouses Tasman. ‘I’d pent-up frustration, a lot I probably didn’t realise’: Marcus Watson’s emotional Wasps return Set to turn 30 later this month, Marcus Watson had an early birthday present last weekend when he finally made it back into the Wasps XV. Gavin Coombes grabs four tries as Munster easy to victory over Zebre Gavin Coombes scored four tries at Zebre as Munster secured second place in the northern section of the Guinness PRO14 Rainbow Cup. Leinster finish with Rainbow flourish as fans attend RDS for first time in 16 months Retiring duo Scott Fardy and Michael Bent bowed out on a winning note as Leinster finished the Rainbow Cup with a victory over Dragons. Final round of the Gallagher Premiership hit by a second match cancellation The final round of the Premiership lost the Worcester-Gloucester match on Tuesday and now Bristol versus London Irish is off. Is Jonny back to his best? | RugbyDump – Rugby News & Videos RugbyDump Home RugbyDump Academy Store About Contact Legal Privacy Policy Cookie Policy Categories Latest Great Tries Big Hits & Dirty Play See It To Believe It Funnies Training Videos Player Features RugbyDump Home RugbyDump Academy Store About Contact Sitemap Categories Latest Great Tries Big Hits & Dirty Play See It To Believe It Funnies Training Videos Player Features Legal Privacy Policy Cookie Policy Sign In Username or Email Password Stay logged in Forgot password Thank you for registering Click here to login Register Register now for RugbyDump commenting & enewsletter. * Required fields. Username * Password * Email * Password Repeat * Please send me news, information and special offers from RugbyDump By clicking register you agree to our Privacy Policylast_img read more

Nominations for Scottish Annual Fundraising Awards close this week

first_img* Fundraiser of the Year Sponsored by the Fundraising Standards Board (FRSB)* Partnership Fundraising Award Sponsored by the PFRA* Direct Marketing and Communications AwardThe winners will be announced at the Annual Fundraising Awards Dinner on 11 November AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of Researching massive growth in giving.  21 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Howard Lake | 30 September 2009 | Newscenter_img Nominations for the Annual Fundraising Awards close on 2 October 2009. The awards are designed to provide Institute of Fundraising Scotland members with the opportunity to recognise charities and fundraisers for the work they undertake to benefit the community.The four awards are:* Volunteer Fundraiser/Fundraising Group of the Year Advertisement Nominations for Scottish Annual Fundraising Awards close this week Tagged with: Awards Institute of Fundraising Scotlandlast_img read more

Greek deal means more hardship for workers, more money for bankers

first_imgJuly 20 — The bailout deal signed by Greek Prime Minister Alexis Tsipras and the European bankers has brought more hardship to the Greek workers, more money to the bankers and shows that electoral politics without vigorous class struggle is a dead end for the working class.Cutting pensions and raising sales taxes on items needed to survive so that bankers can be paid are a crime against the working class. Yet that has been agreed to by Tsipras and his new-found bourgeois allies: the center-right New Democracy party, the bourgeois social democrats in PASOK and the To Potami party. They made up the votes he needed in Parliament due to defections from the Syriza delegation.As the banks reopen on a limited basis, new taxes are being imposed on the masses. A value added tax, or sales tax, has now been placed on restaurants, taxis, other forms of transportation, some types of meat, milk, cooking oil and many other basic necessities. The sales taxes are severe, going from 13 percent to 23 percent — almost doubling this regressive form of taxation that falls heaviest on the workers, the poor and the elderly.These increases are being imposed on a basically impoverished population that is in the midst of a Great Depression. The Greek economy has shrunk by 25 percent; there is 26 percent overall unemployment and 50 percent youth unemployment. One-third of pensioners are in danger of falling into poverty.Over 2.5 million people — in a country of 11 million — have no health insurance. Some 800,000 people are estimated to lack unemployment insurance, which also carries medical insurance. Health care spending was 9.3 percent of the budget in 2012; it had already fallen to 5 percent under the existing banker-imposed austerity program, and will now decline further.It is no surprise there was a 35 percent increase in the suicide rate during the first two years of austerity. (Newsweek, July 15)Bankers repaid as cuts are enactedThe cruel farce of a so-called bailout for the Greek government was played out today as Brussels transferred 7.16 billion euros to Athens. This bailout payment had been allocated to the Greek government long ago and was held in a European Union fund euphemistically called the Emergency Financial Stability Mechanism.The bankers had refused to release the money until the Greek financial system was on its knees and the banks were closed down.The money was released after the Greek government, backed by the Parliament, put into place the sales tax increases and ratified pension reductions along with attacks on union rights that make it easier to fire workers. The Greek government also had to transfer 50 billion euro to a privatization fund. All these were called “confidence-building” measures. These cuts were a prior condition to beginning negotiations with the bankers on an additional 80 billion euro bailout going forward.Once the bankers were “confident” that the Greek government was implementing draconian austerity measures, Brussels sent the emergency funding.Where did the money go? It went to paying the European Central Bank 4.2 billion euro, the International Monetary Fund 2.05 billion euro and the National Bank of Greece 500 million euro. The relatively small amount left over was deposited in escrow to be available to London and other non-eurozone countries as security in case they suffer any future losses from the bailout process.Not one euro went to the Greek government for expenses to relieve the suffering of the Greek people.Debt relief scamTwo days before the deal was made in Brussels by the eurozone ministers and Tsipras, the IMF issued a report saying that while “reform” — read austerity cuts — was absolutely essential, Greece would need massive debt relief because the debt could not be paid. This was directed against the German bankers and their bloc of countries in the eurozone. In the end the final agreement said there would be “no haircuts” — no reduction in the debt principal.The IMF has threatened to refuse to participate in the bailout without debt relief for Greece, perhaps including a 30-year moratorium before the debt has to be paid. This may seem like a generous gesture, but it is entirely self-serving for the financiers.In the first place, the Greek government is insolvent and cannot pay the debt. So any debt payment will have to be financed by loans from the IMF, the European Central Bank or European bankers directly.With the Greek government indebted for over 300 billion euro and about to negotiate another 80 billion euro loan, the entire debt structure will become a danger to the bankers themselves.So a moratorium on debt payments is actually a moratorium on having to make more risky loans to Greece.Secondly, if the debt is unsustainable, that means default is on the agenda. Greece has already missed two loan payments to the IMF. But if a loan is in default, it has to be marked down on the books. It is no longer an asset and the amount of the write-down must be replaced by additional capital contributions by the bank. So a moratorium on debt payment turns the unpayable loans into “performing” loans that are deferred for a given period of time. This protects the balance sheets of the banks.What is ‘Europe’?The euro bankers and the Tsipras faction of Syriza tried to terrorize the masses into accepting the austerity deal with the threat of “leaving Europe.” Leaving the eurozone — that is, leaving the euro currency — was made equivalent to leaving Europe, meaning the European Union.But it should be remembered that the British ruling class refused to give up the pound when the common currency union was formed. So did Denmark and other countries. These countries are not in the eurozone. They are in the European Union while retaining their own currency and their financial sovereignty.When Britain and Denmark refused the euro, they were given an “opt out” option, even though every EU country is supposed to apply to become a member of the eurozone.So the Greek government would be following a precedent if it demanded an “opt out” of the euro, while retaining membership in the EU. This would mean that Greeks could continue to travel throughout Europe without having to apply for visas while retaining the common benefits of being in the EU.But even while that should be legally and politically possible, the ideological damage in promoting the idea of “Europe” without applying a Marxist, class approach is extremely dangerous and all too common.The EU is a group of capitalist states, ruled by exploiting and plundering ruling classes. Their motivation for sustaining “Europe,” that is, the EU, is to be able to compete economically with U.S. imperialism and Japan. The capitalist classes of Europe were willing to set up a structure by which Wall Street and Washington would face common tariff barriers, commercial rules and regulatory oversight.Also, by centralizing power in a Brussels-based bureaucracy, the European bankers could reverse gains the working class had won in countries where workers were organized in strong unions and workers’ parties, such as France and Italy.U.S. imperialism, on the other hand, wants a stable European capitalist structure to endure for a number of reasons. First, the corporations and bankers want a large uniform market where they can invest and conduct commerce across borders with a very large population. The European Union encompasses 508 million people; the eurozone covers 338 million of them.Second, they do not want political conflict to endanger the NATO alliance in any way. This is their bulwark for world domination, second only to the Pentagon itself. While the German imperialists hold economic sway over Europe, Washington wants to ensure its military sway over a unified NATO and European alliance.Opposed to these capitalist interests in Europe is the multinational European working class, exploited by the capitalist classes of Europe, the U.S. and Japan. The European working class is filled with immigrant workers who suffer severe oppression, which is getting worse.Europe, for the workers, should signify a continent-wide proletariat that must unite in common cause against the collective power of capitalist Europe, as well as show its international solidarity with the workers and the oppressed of the world. Some of these states are rich; some are poorer, like Spain, Portugal, Italy, Ireland and Greece. But they are all dominated by the exploiting classes, and must be fought as such.Parliamentary road alone leads to a dead endIf the latest Greek crisis and the capitulation to the bankers mean anything, it is that all electoral activity of the masses has to be subordinated to, and integrated with, the organized, militant class struggle.In the long run, elections under capitalism can, at best, only be a measure of the maturity of the working class, as Frederick Engels famously said. They  can provide an indicator of when the working class is ready to bid for power.But long before that point is reached, the obsession with elections as the fundamental lever in making gains for the working class must be abandoned. The latest experience of the betrayal of the Greek masses underscores this point.Greece held two elections in five months. The first was an election in January that Syriza won with 35 percent of the vote — as the party opposing austerity. The second was the July 5 referendum on austerity, in which 61 percent voted No.To accept the deal, the Tsipras faction used a vote in Parliament — an indirect vote — to overturn the direct vote of the masses that had firmly rejected austerity. Defying his own party, Tsipras really had no right to represent Syriza. The Political Secretariat of his party opposed the deal; the Central Committee of 201 voted it down with 109 votes against. (, July 15) Some 33 Syriza MPs voted no, six abstained and three Syriza ministers resigned, including the speaker of the Parliament and a leader of the Left Platform.But Tsipras, knowing he could not sell this betrayal in his own party, made a deal ahead of time with the bourgeois parties to override the referendum.In Greece, as well as elsewhere in Europe, there is an overemphasis on elections; the class struggle has taken a secondary place. This is just the reverse of what it should be. The class struggle against the bosses and their stooges in Parliament and in government should be primary.This message should also be heard in the United States, as the ruling class gears up for its quadrennial presidential charade in which the masses “choose” which leaders of the oppressing and exploiting class will rule.The labor movement and militant workers should not be pulled into running after Hillary Clinton, Bernie Sanders or any other candidate who wants to preside over the capitalist state. That is the lesson of Greece.Goldstein is the author of two books, “Capitalism at a Dead End” and “Low-Wage Capitalism.” More of his writing is available at and on his Facebook page.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img read more

‘Hands Off Venezuela PDX’

first_imgFacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare this A “Hands Off Venezuela PDX” coalition marched on Feb. 8, ending by covering doors of the Federal Building with their demands.On the cold, rainy evening of Feb. 8, a new coalition, “Hands Off Venezuela PDX,” gathered in Portland’s Terry Schrunk Plaza between City Hall and the Green-Wyatt Federal Building. Activists came from several groups, including Veterans for Peace, the Portland Central America Solidarity Committee, Portland Jobs With Justice, Democratic Socialists of America, the International League of People’s Struggles and the Portland branch of Workers World Party. The snap coalition was formed in a week by local activists to get this initial demonstration supporting Bolivarian Venezuela into the streets. More actions are planned for the future, with regular meetings to steer the local anti-war and anti-imperialist response to the ongoing U.S. coup attempt against Venezuela. Speakers highlighted the absurdity of coup leader Juan Guaidó’s claim to the Venezuelan presidency, with Western countries’ approval of the attempted coup representing a serious violation of international noninterference and Venezuelan sovereignty.A member of Veterans for Peace made comparisons to U.S. hostilities in the 1980s when Elliot Abrams, recently appointed as Trump’s “Special Envoy for Venezuela,” was a key Reagan administration official involved in illegally funding right-wing death squads in Nicaragua. The author of this article also spoke, calling for a united anti-war coalition of all progressive movements, and emphasizing the many gains in Venezuela that stand to be wiped out if the U.S. coup is successful. The Bolivarian government uses the money from its own natural resources to benefit its people — by building millions of units of free public housing, expanding food and medical access in poor areas, restoring Indigenous land titles, implementing reforestation efforts and sustainable agriculture, and supporting local artists and musicians in working-class communities. Several speakers raised that Venezuela sits on the world’s largest oil reserves and that U.S. officials, most notably National Security Advisor John Bolton and Sen. Marco Rubio of Florida, have been clear that control of oil is a key goal of U.S. intervention in Venezuela. But the U.S. wants the money from Venezuela’s oil to go into the pockets and portfolios of huge U.S. energy companies like Valero and Chevron, so Washington is backing a criminal coup to make that happen. After the speeches, demonstrators chanted anti-imperialist slogans and momentarily blocked traffic as they marched to the Federal Building, where they taped dozens of coalition statements to the doors.The statement read, in part, “The current economic sanctions do not help [. . .,] they are designed to inflict pain in the hope that it will lead to the overthrow of the government” and “We firmly assert the future of Venezuela is a matter for Venezuelans [. . .] no sanctions, no coup, no military intervention. Hands off Venezuela!” The beginnings of a Portland anti-war movement have quickly formed in response to U.S. imperialism, and are loudly declaring their opposition.The coalition now turns to organizing a demonstration on Feb. 23, the one-month anniversary of the attempted U.S. coup. Nationwide demonstrations have been called for that day to denounce U.S. war and aggression against Venezuela, a country that represents the international struggle toward socialism. last_img read more