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Greek Civil Servants Strike Against Latest Austerity Measures

Public services shut down in Greece on Wednesday when thousands of civil servants walked off their jobs in a 24-hour strike against the government’s latest austerity measures.  Prime Minister George Papandreou announced plans this week to trim pensions and reduce salaries for 30,000 civil servants that would then ultimately be let go. Schools, multi-level governmental operations, and courts closed when members of the two major unions began the strike, and more than 400 flights from the Athens International Airport were cancelled.  Train and ferry services were stopped, and hospitals were reported to be running on emergency staff only. Greece has been reliant on international aid since accepting a $157 billion dollar bailout in May 2010 to stave off bankruptcy.  A second bailout worth $155 billion was approved in July. The European Union, the … Read entire article »

Filed under: general-news

IMF Hacked But Who By?

The International Monetary Fund is investigating a breach in security, which apparently has all the signs of being a sophisticated attack on the IMF which collects information on its 187 member nations and their financial systems, information which is very sensitive in nature. The concern is that data could be leaked and used to manipulate currencies as well as bonds around the world. Because of the nature of the attack, and the infiltration involved ahead of the actual attack, as well as the code which was written specifically for this cyber attack which was then uploaded onto one computer at the IMF, this has a lot of experts wondering just who is behind this. Nothing has been announced officially by the IMF, but in an internal memo which has been leaked to … Read entire article »

Filed under: technology

IMF Names Acting Director

On Thursday, John Lipsky was named as the acting director of the IMF, the International Monetary Fund to replace Dominique Strauss-Kahn who was arrested in New York over the weekend on sexual assault charges. Strauss-Kahn, born in 1949, was managing director of the IMF for over 3 years, but resigned officially on Wednesday when he sent a letter from his jail cell in New York to the IMF executive board in which he stated that it was the best thing for the IMF for him to step down. He also maintained his innocence over the charge of attempting to rape a Manhattan hotel chambermaid on Saturday. Lipsky has been a deputy managing director of the IMF since 2006, after years of experience as an economist and investment banker. Lipsky gave a speech … Read entire article »

Filed under: business