“Complete victory,” headlines Frettabladid following the ruling of the European Free Trade Association (EFTA) in favour of Reykjavik in the case it brought against the European Commission. The Commission had been pursuing Iceland, arguing that when the Landsbanki, Iceland’s biggest private bank, went bankrupt in 2008, the government should not have refused to cover the losses of Dutch and British customers of Icesave, a subsidiary of the Landsbanki set up in the Netherlands and the United Kingdom. That refusal was endorsed by a referendum in which Icelanders rejected the loan guarantees repayment negotiated by their governments with The Hague and with London.
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“The court has ruled that Iceland has not violated European directives concerning the obligation to guarantee bank deposits, as those directives do not apply to a systemic crisis,” writes the newspaper. That crisis had hit the entire Icelandic banking sector, which collapsed in 2008.
In addition, explains lawyer Michael Waibel in the Financial Times
The Court has sided with Iceland on a legal and political issue that resonates well beyond Iceland: whether the state is and should be responsible for liabilities of a national deposit insurance scheme.”
As for the European Commission, it “appears to be quite the sore loser,”notes Les Echos in Paris, which says that Brussels
is claiming that depositors must be insured whatever happens, even in a systemic crisis. It should address that question now, while negotiations on the harmonisation of European deposit guarantees are still going on.
The United States government says that Kim Dotcom, a German millionaire formerly known as Kim Schmitz, masterminded a vast criminal conspiracy by operating the file-storage site Megaupload. Dotcom, on the other hand, begs to differ. One year after the high-profile raid of his home and the shut-down of one of the most popular sites on the Web, Dotcom hosted a launch party for his latest endeavor, simply called Mega.
On the anniversary of the end of Megaupload, Dotcom discusses the year since his arrest and what the future holds in regards to both his court case and the Internet alike. Speaking with RT’s Andrew Blake from his Coatesville, New Zealand mansion, Dotcom weighs in on the US justice system, the death of Aaron Swartz, the growing surveillance state, his own cooperation with the feds and much more.
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The Obama administration is openly escalating its campaign against private gun ownership, and shaking up the top ranks of the military command structure — but is it also preparing to make war on the American population? According to a person identified as a former senior military official, the answer to that shocking question is yes.
World-renowned educator and human rights activist Jim Garrow says that the source, man regarded as “one of America’s foremost military heroes,” told him that President Obama is using a new litmus test for “determining who will stay and who must go” among top-ranked military leaders. That test is whether they will fire on US citizens or not. Garrow says that his source made the disclosure in order to “sound the alarm” over the administration’s plans.
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British Prime Minister David Cameron says he will offer citizens a vote on whether to leave the European Union if his party wins the next election expected in 2015.
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UKIP party leader Nigel Farage talks about PM David Cameron’s wishy washy Europe speech.
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Hundreds of thousands of people have taken to the streets of Paris in protest against a proposed law that would legalise gay marriage in France. People travelled from all over France for the demonstration supported by leaders of the centre-right opposition, the Catholic church and the Muslim community. Al Jazeera’s Rory Challands reports from Paris.
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Homosexuals protested at Russia’s parliament over proposals to outlaw gay kissing in public. But passing homophobes were not impressed. Report by Matt Blake.
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It seems finally Silvio Berlusconi has admitted that NATO’s intervention in Libya was orchestrated by then French President Nicolas Sarkozy who wanted to get a share of Libya’s natural gas and oil, after the latter traveled to Libya and saw posters of Qaddafi embracing Berlusconi.
The discovery of large natural gas reserves in the Mediterranean coast of Syria, Lebanon, and Israel has prompted another artificial “Arab Spring revolution” in Syria, whose toppling means not only gaining control of Syria’s natural gas reserves and those of Lebanon – as “Lebanon goes as Syria goes” – but also finding a route for Qatar’s natural gas pipeline to pass to Europe & Turkey, as Qatar is looking to offer Europe & Turkey a good deal on this natural resource while cutting out Europe’s current supplier, Russia.
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The 26-year-old co-founder of social news website Reddit hanged himself in his New York apartment on Friday. Swartz faced 13 felony charges connected with hacking the network of MIT University and downloading academic papers online. He could have spent decades in prison for charges he pleaded not guilty to. And a representative of the Pirate group from the Berlin parliament, Fabio Reinhardt, says that just isn’t fair.
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High School Student Suspended For Writing A Poem About Sandy Hook Elementary School Massacre
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