Trouble Brews In Europe
posted on
Jan 23, 2009 02:13PM
Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.
The latest out of Europe this evening indicates that the Prime Minister of Iceland has just resigned for "medical" reasons. Perhaps that may be true but he has been under enormous pressure lately to resign by rioting masses. As the article further below indicates, the seeds of violent protests have been sown throughout Europe and such activity is definitely supporting the gold price.
Monday, as is usually the case, should be a most revealing day as the gold cartel attempts to put gold back into its bottle. They will try but the headwinds are increasing against them.
Regards - VHF
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By David Ibison in Stockholm
January 23 2009 15:27
Iceland’s embattled prime minister resigned on Friday citing medical reasons and called an early election for May, a move that could prompt a dramatic shift to the left after a 20-year experiment in free market economics.
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European Governments Face Protests Over Economy
Here are details of some of the protests around Europe:
* ICELAND:
-- Police used teargas against anti-government protesters when a demonstration outside parliament turned violent on Thursday.
-- The parliament building has become the focus of anger against Prime Minister Geir Haarde's coalition government's handling of the financial crisis. Demonstrators have called for the prime minister and other senior officials to resign and his limousine was pelted with eggs by demonstrators on Wednesday.
* BULGARIA:
-- Hundreds of Bulgarians demanded economic and social reforms in the face of a global slowdown on Wednesday in a second week of anti-government protests.
-- Students, teachers, green activists, doctors and public servants took part in the rally in front of parliament in Sofia, calling on the Socialist-led government to take action or step down. Many shouted "Mafia" and "Resign".
-- Last week hundreds of protesters clashed with police, smashed windows and damaged cars in Sofia when a rally against corruption and slow reforms in the face of the economic crisis turned into a riot.
* GREECE:
-- High youth unemployment was a main driver for unrest in Greece, initially sparked by the police shooting of a youth in an Athens suburb. General unemployment runs just above the EU average at 7.4 percent but the figure is 21.2 percent for the 15-24 age group and 10.5 percent for those aged 25-34. The protest forced a government reshuffle.
* LATVIA:
-- Last week, a 10,000-strong protest in Latvia descended into a riot, some protesters trying to storm parliament before going on the rampage. Government steps to cut wages, as part of an austerity plan to win international aid, have angered people.
* LITHUANIA:
-- Police fired teargas last week to disperse demonstrators who pelted parliament with stones in protest at government cuts in social spending to offset an economic slowdown. Police said 80 people were detained and 20 injured during the violence.
-- Prime Minister Andrius Kubilius, who was only sworn in in December, said the violence would not stop an austerity plan launched after a slide in output and revenues.