US BACK STABS ISRAEL-NOTHING NEW

INTERESTING FOX NEWS (HAPPENING NOW) CALLED THE TSA AIRPORT SCANDAL PEOPLE AS AN ANGRY MOVEMENT.THEIR HIPOCRITES NOW GOING AGAINST THE PEOPLE TRYING TO STOP THE RADIATION POISONING AND PORN PROFILES OF PEOPLE ON FILE FOREVER.THIS IS TYPICAL MAINSTREAM MEDIA COMING AGAINST AMERICAN CITIZENS AND STICKING UP FOR DICTATORSHIP CONTROL FREAK SYSTEMS IN GOVERNMENTS.
http://video.foxnews.com/#/v/4435690/king-tsa-system-not-perfect-but-necessary/?playlist_id=87937

Report: Clinton and Obama Pulled Bait and Switch on Netanyahu
by Maayana Miskin NOV 24,10

As Israel waits for a letter clarifying America's guarantees in exchange for a proposed building ban for Jewish residents of Judea and Samaria, a diplomatic source has come forward saying that no such letter is on its way. United States Secretary of State Hillary Clinton misled Prime Minister Binyamin Netanyahu, and contrary to reports, the U.S. does not guarantee an end to the freeze, the source said.The source, a senior diplomat with inside knowledge of Netanyahu's recent meetings in Washington, said Clinton made commitments when talking to Netanyahu, but later slipped out of them by claiming that she had not been speaking on behalf of U.S. President Obama – who, she said in the end, did not give his approval.When Netanyahu called the State Department to clarify America's position, officials expressed surprise at his surprise, the source continued. While Clinton made promises, Netanyahu knew from the beginning that Obama has the final word, they allegedly said.

Clinton had told Netanyahu that the proposed construction freeze would last for three months, and that it would end regardless of whether or not there was progress in talks between Israel and the Palestinian Authority. After that, she said, America would not push for a third building freeze.However, according to the diplomat, U.S. leaders have since said that the building ban for Jews in Judea and Samaria would only end if Israel and the PA reached an agreement on the borders of a proposed PA state.Several other American promises have been called into question as well. While it was initially reported that Israel would receive F-35 fighter jets in exchange for the freeze, Israeli ministers later clarified that the jets are part of a separate package, and that Israel will pay for them in full. It was also suggested that the construction ban would not apply to Jews living in Jerusalem; however, U.S. officials later stated that it would apply to all Jews living east of the 1949 armistice line, including those in Israel's capital city.If America does not openly declare that a second construction freeze would end in three months with or without a deal with the PA, Netanyahu is unlikely to get the cabinet's support for the new construction ban. Ministers in Shas and within Netanyahu's own Likud party have already stated that they would vote against the proposal without a U.S. promise.

Netanyahu previously made the unprecedented step of unconditionally freezing construction for Jews in Judea and Samaria for 10 months, in an attempt to bring the PA to the negotiating table. PA leaders reluctantly agreed to talk just as the 10-month freeze reached its conclusion, but left the talks again when the freeze ended.
(IsraelNationalNews.com)

Iran's Parliament Planned to Oust Ahmadinejad
by Gil Ronen NOV 24,10

Iran's parliament planned to impeach President Mahmoud Ahmadinejad but refrained from doing so following the intervention of Supreme Leader Ayatollah Ali Khamenei, the Wall Street Journal reported. Four members of Tehran's parliament launched a petition to hold a debate on Ahmadinejad's impeachment, conservative Iranian newspapers said.The papers reported Monday that legislators started a move to collect the 74 signatures needed to hold an open debate on the president's impeachment. Forty lawmakers have already signed the motion.This is the first time in the history of the Islamic Republic that parliament has discussed impeachment of a president. However, the move needs Khamenei's support in order to succeed – and it does not appear to have it at this time.In a report discussed in parliament Monday, four lawmakers voiced unprecedentedly harsh criticism of Ahmadinejad, accusing him of breaking the law and acting without the approval of the legislature. The Iranian president was charged with illegally importing gasoline and oil, failing to provide budgetary transparency and withdrawing millions of dollars from Iran's foreign reserve fund without getting parliament's approval, WSJ reported.

The moves against Ahmadinejad are a manifestation of domestic unrest over his plans to gradually eliminate subsidies for fuel, food and utilities, a move that is expected to drive up inflation. The opposition to Ahmadinejad is described as politically conservative, while Ahmadinejad himself is an ultraconservative– as is Khamenei.U.S. officials Monday said they are following the political struggle in Tehran and believe that they are caused, in part, by the sanctions imposed on the Iranians by the US, the United Nations and the European Union.However, observers noted that Ahmadinejad's opponents, too, favor Iran's nuclear weapons program, and that even if Ahmadinejad is toppled, the program is likely to continue.Parag Khanna, Director of the Global Governance Initiative at the New America Foundation, predicts that the next Iranian revolution is very close, in an interview with Globes. Khanna, who was an adviser to U.S. President Barack Obama, said that there are many underground tremors in Iran, that will lead to a change in the power structure in the next few years.Regarding the Islamic Republic's nuclear arms program, Khanna estimated at 50% the chances that the West will be able to check the Iranian program before it reaches the point of no return. He is not sure if this will happen through military or diplomatic means, but says – I have hunch that we will succeed in stopping them.(IsraelNationalNews.com)

Abbas Plans PLO Office in Jerusalem
by Maayana Miskin NOV 24,10

Palestinian Authority Chairman Mahmoud Abbas said Tuesday that while the PLO has built a new office in Ramallah, north of Jerusalem, it does not plan to stay in the city. Ultimately, the PLO will return to Jerusalem, he said.His remarks were made during a ceremony opening the new Ramallah headquarters.Abbas recalled a visit to PLO headquarters in Jerusalem prior to the Six Day War of 1967 in which the city was reunited. The PLO had centers in Judea and Samaria during the 19-year period in which the region was under Jordanian occupation, from which it launched frequent terrorist attacks on Israeli civilians.The PA Chairman joined PA negotiator Saeb Erekat in condemning Israel for passing the Referendum Law, which will allow Israelis to vote on whether or not to cede land in Jerusalem or the Golan for the sake of a peace treaty. This step puts obstacles in the way of the political process, he said.The PA claims all land east of the 1949 armistice line, including much of Jerusalem, as part of a future Arab state.Israeli activists in Jerusalem have charged that the PA is attempting a de facto annexation of parts of Israel's capital city. The PA has claimed credit for paving roads and planting trees in Arab neighborhoods, and recently reported that it had invested two million shekels in Arab schools.(IsraelNationalNews.com)

DOCTOR DOCTORIAN FROM ANGEL OF GOD
then the angel said, Financial crisis will come to Asia. I will shake the world.

JAMES 5:1-3
1 Go to now, ye rich men, weep and howl for your miseries that shall come upon you.
2 Your riches are corrupted, and your garments are motheaten.
3 Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days.

REVELATION 18:10,17,19
10 Standing afar off for the fear of her torment, saying, Alas, alas that great city Babylon, that mighty city! for in one hour is thy judgment come.
17 For in one hour so great riches is come to nought. And every shipmaster, and all the company in ships, and sailors, and as many as trade by sea, stood afar off,
19 And they cast dust on their heads, and cried, weeping and wailing, saying, Alas, alas that great city, wherein were made rich all that had ships in the sea by reason of her costliness! for in one hour is she made desolate.

EZEKIEL 7:19
19 They shall cast their silver in the streets, and their gold shall be removed: their silver and their gold shall not be able to deliver them in the day of the wrath of the LORD: they shall not satisfy their souls, neither fill their bowels: because it is the stumblingblock of their iniquity.

REVELATION 13:16-18
16 And he(FALSE POPE) causeth all,(WORLD SOCIALISM) both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:(CHIP IMPLANT)
17 And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.
18 Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six.(6-6-6) A NUMBER SYSTEM

WORLD MARKET RESULTS
http://money.cnn.com/data/world_markets/
CNBC VIDEOS
http://www.cnbc.com/id/15839263/?tabid=15839796&tabheader=false

HALF HOUR TSX RESULTS THU NOV 25,2010(AMERICAN HOLIDAY THANKSGIVING)

09:30 AM +1.80
10:00 AM +26.67
10:30 AM +16.70
11:00 AM +19.88
11:30 AM +16.20
12:00 PM +16.55
12:30 PM +22.33
01:00 PM +26.80
01:30 PM +29.60
02:00 PM +33.20
02:30 PM +31.05
03:00 PM +30.22
03:30 PM +32.94
04:00 PM +43.80 12,945.80

S&P 500 THANKSGIVING HOLIDAY

NASDAQ THANKSGIVING HOLIDAY

GOLD 1,374.40 +1.40

OIL 84.18 +0.32

TSE 300 12.945.80 +43.80

CDNX 2049.01 +25.43

S&P/TSX/60 741.46 +2.48

MORNING,NEWS,STATS

YEAR TO DATE PERFORMANCE
Dow +10 points at 4 minutes of trading today.
Dow +1 points at low today.
Dow +27 points at high today so far.
GOLD opens at $1,373.90.OIL opens at $84.31 today.

AFTERNOON,NEWS,STATS
Dow +1 points at low today so far.
Dow +45 points at high today so far.

WRAPUP,NEWS,STATS
Dow +1 points at low today.
Dow +45 points at high today.

GOLD ALLTIME HIGH $1,423.20 (NOT AT CLOSE)

No risk of euro zone breakup in Irish crisis: EU By Paul Carrel And Paul Taylor – Thu Nov 25, 5:59 am ET

BERLIN/PARIS (Reuters) – Senior euro zone officials dismissed any risk of the single currency area breaking up after financial markets, alarmed by Ireland's debt crisis, forced the borrowing costs of Portugal and Spain to record highs.There is zero danger, Klaus Regling, chief of the euro's financial safety net, European Financial Stability Facility (EFSF), told German daily Bild in an interview published on Thursday when asked if the euro zone could break apart.It is inconceivable that the euro fails, he said.Some economists and commentators, mostly in Britain and the United States, have suggested the 16-nation common currency launched in 1999 could split because of peripheral members' high debts and deficits, and a loss of competitiveness with Germany.But Regling said: No country will give up the euro of its own will: for weaker countries that would be economic suicide, likewise for the stronger countries. And politically Europe would only have half the value without the euro.Greece received a three-year 110-billion-euro EU/IMF bailout in May, leading to the creation of the EFSF, which Ireland has now applied to tap to cope with the devastating impact of a banking crisis on its public finances.The cost of insuring Irish debt against default continued to rise on Thursday amid market doubts about Dublin's austerity plan. In another sign of waning confidence, European clearing house LCH.Clearnet increased the deposit it requires traders in Irish government bonds to post for the third time this month.The euro tumbled this week after German Chancellor Angela Merkel alarmed markets by saying the single currency was in an exceptionally serious situation.German Bundesbank chief Axel Weber, a powerful member of the European Central Bank's governing council, said he was convinced EU leaders would do whatever it takes to repel what he called an opportunistic attack on the currency area.Weber noted that the EFSF and other EU rescue funds had enough money, if necessary, to cover the borrowing needs of the four financially troubled members of the euro zone -- Greece, Ireland, Portugal and Spain.

If that is not enough, I am convinced euro zone states will do what is necessary to protect the euro, Weber told French business and political leaders in Paris on Wednesday evening.But 750 billion (euros) should be more than enough to see off an attack on the euro zone.Currency and credit markets have been unnerved by German proposals to force bond holders to share the cost of any future default by highly indebted euro zone countries, as well as by the alarmist tone of recent comments by Merkel and European Council President Herman Van Rompuy.ECB policymaker Ewald Nowotny voiced irritation at Merkel for not differentiating between the euro as a currency and the problems of individual (euro zone) states.Euro zone policymakers are hoping that Spain and Portugal can stave off an Irish- or Greek-style debt meltdown.A Reuters poll this week showed 34 out of 50 analysts surveyed believe Portugal will be forced to follow Ireland and ask for help. In a separate survey only four out of 50 economists thought Spain would seek external aid.Of course the situation is serious, Regling said when asked about Merkel's comments. But Regling said there was no way France and Italy were in danger.Italy has come through the crisis well and has its state deficit in hand. And France has the same credit standing as Germany, he added.To help a euro zone country, the EFSF would issue bonds on the market which would be backed by up to 440 billion euros ($585.9 billion) worth of guarantees from euro zone governments. Regling said he had spoken about such issues with 150 of the largest investors in the world including sovereign funds, pension funds, central banks, insurers and commercial banks.They are all very interested, he said.Ireland's government faced the first electoral backlash from a tough austerity package that will cut wages and welfare benefits and raise taxes when voters cast ballots in a by-election in the northwestern county of Donegal on Thursday.Irish Prime Minister Brian Cowen's four-year plan for tackling the worst budget deficit in Europe failed to impress investors or calm fears that Ireland's woes may tip other euro zone nations into crisis.The 15 billion euros ($20 billion) in spending cuts and tax increases unveiled on Wednesday will form the basis for an IMF/EU rescue package worth about 85 billion euros.

But the measures, including cuts to the minimum wage and thousands of job losses, are likely to seal defeat for Cowen's Fianna Fail party in the poll for a vacant parliamentary seat in Donegal and result in Cowen's majority shrinking to just two.
With Cowen's coalition imploding amid public fury at having to go cap in hand to the IMF and the EU, the Donegal vote raises the risk that the 2011 budget, the first step in the four-year plan, may not make it through parliament on December 7.
Failure to get next year's budget passed would turbo-charge the crisis in Ireland and Europe and analysts have said the main opposition parties may abstain from voting to allow the budget through if it looks like Cowen cannot get the numbers.
Even excluding the political uncertainty surrounding the 2011 plan, investors are skeptical the fiscal targets can be achieved with rating agency Standard & Poor's dismissing the 2.75 percent annual growth assumptions underlying the strategy as too optimistic.(additional reporting by Carmel Crimmins in Dublin, William James and Anna Yukhananov in London; writing by Paul Taylor, editing by Peter Millership)

ITS JUST A MATTER OF TIME TILL PROPHECY COMES TO PASS.NOT IF BUT WHEN WILL THE NUKES START FLYING.

THE BIBLE CLEARLY SAYS WW3 STARTS AT THE EUPHRATES RIVER IN IRAQ OR SYRIA.THEN YOU WILL KNOW WW3 HAS STARTED.I BELIEVE SYRIA (DAMASCUS WILL BE NUKED BY ISRAEL)TO BEGIN WW3.OR IRAN DOES SOMETHING BY THE EUPHRATES RIVER MAYBE BUILD A NUKE SITE,THEN ISRAEL NUKES THAT IRAN SITE WHICH STARTS WW3 AND THE BEGGINING OF HELL ON EARTH.

REVELATION 9:14-18
14 Saying to the sixth angel which had the trumpet, Loose the four angels which are bound in the great river Euphrates.(IRAQ-SYRIA)
15 And the four angels were loosed, which were prepared for an hour, and a day, and a month, and a year, for to slay the third part of men.(1/3 Earths Population die in WW 3 2ND WAVE)
16 And the number of the army of the horsemen were two hundred thousand thousand:(200 MILLION MAN ARMY FROM CHINA AND THE KINGS OF THE EAST) and I heard the number of them.
17 And thus I saw the horses in the vision, and them that sat on them, having breastplates of fire, and of jacinth, and brimstone: and the heads of the horses were as the heads of lions; and out of their mouths issued fire and smoke and brimstone.(NUCLEAR BOMBS)
18 By these three was the third part of men killed, by the fire, and by the smoke, and by the brimstone, which issued out of their mouths.(NUCLEAR BOMBS)

Nuclear warheads

No. of war heads, 2009 Inter- conti- nental missiles Short-range missiles Bombs Sub- marines / non- strategic In reserve/ await- ing disman tlement TOTAL NOW TOTAL IN 2000

Russia 1355 576 856 2050 8150 (12987 2009 TOT NUKES)(21000 NUKES IN 2000)
US 550 1152 500 500 6700 (9552 2009 TOT NUKES)(10577 NUKES IN 2000)
France - - 60 240 - (300 2009 TOT NUKES)(350 NUKES IN 2000)
Israel - - - - - (200 2009 TOT NUKES) (0 NUKES IN 2000)
UK - - - 192 - (192 2009 TOT NUKES)(185 NUKES IN 2000)
China 121 - 55 - - (176 2009 TOT NUKES)(400 NUKES IN 2000)
Pakistan - - - - - (90 2009 TOT NUKES)(0 NUKES IN 2000)
India - - - - - (75 2009 TOT NUKES)(0 NUKES IN 2000)
North Korea - - - - - (2 2009 TOT NUKES)(0 NUKES IN 2000)

India test-fires nuclear-capable ballistic missile By KATY DAIGLE
The Associated Press updated 11/25/2010 4:12:48 AM ET

NEW DELHI — India successfully tested a short-range version of its most powerful nuclear-capable missile on Thursday during an army training exercise, the Defense Ministry said. Nuclear-armed rivals India and Pakistan regularly test missiles, and in some cases give each other advance notice. Ministry spokesman Sitanshu Kar said Pakistan was informed ahead of Thursday's test as part of standard practice.The upgraded Agni-I — with a 435-mile (700-kilometer) range — was fired from a testing range on an island off the eastern state of Orissa, Kar said.The missile followed the trajectory perfectly and reached the designated spot in the Bay of Bengal, where ships witnessed its detonation, Kar said.The 12-ton missile, developed in India, has an advanced navigation system and can carry payloads of up to 2,200 pounds (1,000 kilograms).It has been tested several times in the past, including on March 28 at the same Orissa firing range, as part of ongoing army training to improve skills among defense personnel.New Delhi has said it developed its current crop of missiles — including the short-range Prithvi missile, the anti-tank Nag missile and the supersonic BrahMos cruise missile — as a deterrent against neighbors China and Pakistan.Its Agni-II missile, with a range of up to 1,250 miles (2,000 kilometers), can put areas of southern China within striking distance. And the Agni-III, successfully tested last year, can carry nuclear warheads across much of Asia and the Middle East.

N. Korean Leader Visited Artillery Base Before Attack
Reported: 05:45 AM - Nov/25/10

North Korean leader Kim Jong-il and his son and successor Jong-un visited the artillery base from which the shells were fired at a South Korean island on Tuesday just hours before the attack, Reuters cited South Korean media as reporting.
According to the report, the leader ordered the attack on South Korea in an attempt to give a lift to his son who has little clear support in the military.

South Korea to Hold Army Demonstration
Reported: 05:15 AM - Nov/25/10

South Korea's military will hold a demonstration on the western coast following the bombing by North Korea of on Tuesday, according to a statement by a spokesman for the South Korean President.President Lee Myung-bak will hold an emergency meeting on Thursday to examine the economic impact of the attack. According to reports, the meeting will focus on ways to prevent the tensions with North Korea from affecting the South's economy.

NKorea warns of retaliation By HYUNG-JIN KIM and KWANG-TAE KIM, Associated Press - NOV 24,2010

INCHEON, South Korea – South Korea's president vowed Thursday to boost security around islands near the site of a North Korean artillery attack while the North warned of more retaliation if the South carries out any reckless military provocations.South Korean President Lee Myung-bak's comments came during an emergency meeting on security and economic impacts of the exchange of fire Tuesday that left four South Koreans dead — including two civilians — and put the region on edge.The North's bombardment of a tiny South Korean island along a disputed maritime frontier sparked a brief skirmish and alarmed world leaders including President Barack Obama, who reaffirmed plans for joint maneuvers with Seoul in the Yellow Sea starting Sunday.We should not let our guard down in preparation for another possible North Korean provocation, Lee said, according to Yonhap news agency.The North made no specific mention of the joint military exercises involving the aircraft carrier USS George Washington. But, it warned, its military will launch second and third strong physical retaliations without hesitation if South Korean warmongers carry out reckless military provocations.The North's statement said Washington was to blame for South Korean artillery exercises earlier in the week near disputed waters which prompted the North to respond with its artillery barrage on Yeongpyeong island Tuesday.

Washington should thoroughly control South Korea to ensure they won't continue adventurous military provocations such as violation of the countries' disputed sea border, it said. The warning was issued by North Korea's military's mission at the truce village of Panmunjom and was carried by the country's official Korean Central News Agency.South Korea said it will increase diplomatic efforts toward China to secure Beijing's help over North Korea's provocation, according to Yonhap. Repeated calls to the presidential office seeking confirmation went unanswered.

EU plans self-funding despite member state fears
ANDREW WILLIS 24.11.2010 @ 09:29 CET

EUOBSERVER / BRUSSELS - European Commission President Jose Manuel Barroso was cheered in the European Parliament on Tuesday (23 November) when he outlined plans to publish an official proposal on EU self-funding before the end of June 2011. A fresh draft of next year's budget is also expected before 1 December.Parliament has said debate on the controversial own resources issue is a key demand in the ongoing battle over next year's annual EU budget, but France, Germany and European Council President Herman Van Rompuy have all indicated they oppose the idea of an EU tax. We will use our right of initiative to put forward formal proposals as to own resources before the end of next June, Mr Barroso told MEPs in the Strasbourg plenary chamber. The proposals ... will make large endeavours to achieving a consensus in the future. We're open to any ideas, he added.The Portuguese politician also said the commission will come forward by 1 December with a fresh draft for next year's annual budget after recent talks broke down, taking into account parliament's demands for greater flexibility in budget spending categories, and bearing in mind changes under the Lisbon Treaty. It will include all aspects already agreed between member states and parliament, he said, including the demand by national capitals to limit 2011 spending increases to 2.91 percent of this year's budget. These are the clear commitments undertaken to you, Mr Barroso told the chamber. We are also ready to repeat them in the form of a declaration appended to an agreement between the council and the parliament, if that were to contribute to getting an agreement.

The announcement to come forward with concrete plans for EU self-funding, hinted at in a recent EU budget review carried out by the commission, is likely to inflame certain member states who worry that such mechanisms would give EU institutions too much independence. I am against the introduction of an EU tax, German Chancellor Angela Merkel said earlier this month.I do not think that redesigning the way the EU get its revenue is a top priority, Mr Van Rompuy said a week later.Reacting to Mr Barroso's announcement, non-attached UK MEP Diane Dodds called on British Prime Minister David Cameron to clearly state that proposals for an EU tax would trigger a referendum in the country.Mr Cameron has led the member state push to limit EU budget increases, and is among those most reluctant to grant MEPs a greater say in discussions over the future multi-annual budget (post 2013), something parliament says it is entitled to under the Lisbon Treaty and is linking to its approval of the 2011 annual budget.The two sides will formally meet with the commission on 6 December to see if agreement on the new commission proposals can be reached. Failure to do so would see this year's budget rolled into 2011 on a month-bye-month basis.

Belgian budget minister Melchior Wathelet warned against failure.There would also be specific consequences for European citizens,he said. No agreement would mean the external action service could run into problems. Financial supervisory bodies could have problems, as would cohesion policy [which funds poorer regions].He indicated that while a deal on greater budgetary flexibility would be difficult but possible, member states were not prepared to go further on the issue of parliament's other key demands.There is the issue of political declarations [on own resources and the multi-annual budget], he said. Here I must say that council can not go any further than what it stated in [earlier] conciliation meetings.

Dublin unveils radical austerity programme
LEIGH PHILLIPS 24.11.2010 @ 17:35 CET

EUOBSERVER / BRUSSELS - The Irish government has unveiled a far-reaching austerity package with sweeping cuts and tax hikes in an effort to meet the tough conditions of an €85 billion EU-IMF bail-out plan, an architecture of adjustment that will radically alter the very structure of how the country is run. It is a plan that will hit every citizen and sector of the Irish economy, but will hit working people, students and low-income earners the hardest, a move that has already provoked both a deep fury from many but also a bitter resignation amongst others.Key measures include a slashing of welfare benefits, a hiking and broadening of income taxes, a sharp increase in university fees, the imposition of property taxes and water charges.Dublin hopes to save €15 billion over the next four years, including €10 billion in cuts and €5 billion in new taxes and other sources of revenue. The shocking sums come atop a total of €14.6 billion in austerity measures introduced in the wake of the wider economic crisis.Crucially, the government has ignored advice from some quarters that cuts in the middle of a recession will only deepen the pain and abandoned all hope that domestic spending can be a driver of a return to growth, instead placing all its bets on improving the climate for export-oriented businesses.

As Ireland is a small, open economy, our economic recovery will be export-led. This plan stimulates exports, increasing productivity and rebuilding competitiveness, the government said in a statement.The plan forecasts economic growth of 2.75 percent of GDP on average over 2011-2014, and hopes this will result in the creation of some 90,000 new jobs. Dublin appears to have won the day against pressure from other EU member states and the commission that it hike its ultra-low corporation tax of 12.5 percent, calling the rate a cornerstone of our industrial policy.Acquiescing to an IMF demand that labour costs be slashed, pay for minimum wage earners will be reduced by a full 12 percent, higher than the 10 percent that had been predicted, from €8.65 an hour to €7.65.Low-income earners have in recent years enjoyed considerable relief from income tax, with as many as 45 percent of employees not paying at all. This era has come to an end, with income tax from now on to be applied on all who earn over €15,300 a year, down from the current €18,300. The government hopes to raise an additional €1.9 billion this way.VAT will also be jacked up a total of two percent, spread over the last two years of the four-year package, while water charges will be introduced by 2014.Social welfare spending is to be lacerated by €2.8 billion and student registration fees will climb from €1,500 to €2000, an adjustment of 33 percent. The figure is not as high however as had been feared, with early reports suggesting a doubling to €3,000.The cuts in 2011 will be worth some four percent of GDP and over the four-year period, equivalent to a full 11percent.As part of the cuts to spending, public service staff levels will be reduced by 24,750 positions and salary adjustments, including a 10 percent pay cut and a new pension scheme for fresh hires, will shave off €1.2 billion in costs over the next four years.Property owners will now be subject to a tax for the first time, to be initiated in 2012, and business owners will be slapped with a local services levy.

Gloom, anger spreads as European economies teeter By ALAN CLENDENNING and SHAWN POGATCHNIK, Associated Press – Wed Nov 24, 6:29 pm ET

DUBLIN – Anger and fear about Europe's seemingly unstoppable debt crisis coursed through the continent Wednesday. Striking workers shut down much of Portugal, Ireland proposed its deepest budget cuts in history and seething Italian and British students clashed with police over education cuts.Amid it all, analysts were deeply skeptical about the future — saying even the desperate efforts of governments, the European Union and the International Monetary might not be enough to prevent countries from defaulting or banks from going under.The Irish Stock Exchange saw a bloodbath in bank stocks as investors pushed the panic button and bond traders were betting that it would only be a matter of time before Portugal and possibly Spain would be the next countries begging for outside help.In Lisbon, strikers all but closed the airport, stranding passengers who couldn't get in or out of the country.

Commuter Luis Moreira, catching one of the last trains out of Lisbon, said Europe's woes only seem to be getting worse by the day. He supported the growing outrage over salary and pension cuts and wondered why billions were being thrown instead at governments and banks.People have to fight for their rights, Moreira, 51, told The Associated Press.People have to fight against what is happening.Government policies have sent people into poverty and misery, said union leader Manuel Carvalho da Silva, noting that Portuguese civil servants will see wage cuts averaging 5 percent next year.Italian students occupied university buildings and piazzas to denounce education cuts being debated by Parliament, clashing briefly with police in Rome and blocking five main bridges over the River Arno in Pisa.

In Britain, students decried government plans to triple tuition fees.Education is not a rich kid's game, said Tash Holway, a 19-year-old student in London.If this keeps up, the entire industry will change. It won't be about talent, but only about who can pay.While Irish bank shares plummeted for a third straight day amid fears investors would be wiped out, yields on Portuguese and Spanish government debt shot up sharply because of rising concerns that their debt loads will prove unsustainable and put them next in line for European bailouts.Irish Prime Minister Brian Cowen announced Wednesday he now expects the EU-IMF bailout loan to total euro85 billion ($115 billion). Some experts accused Ireland of minimizing the true scale of its financial disaster, saying Ireland probably needs a bailout of euro130 billion ($175 billion) because of looming defaults on residential mortgages.The government is completely in denial about the amount of money they'll have to borrow, said Constantin Gurdgiev, a finance lecturer at Trinity College Dublin.He compared Ireland's plight to that of Greece, which received a euro110 billion ($145 billion) EU-IMF rescue bailout in May.Our economy is more than three times over-indebted than Greece. If Greece is insolvent, where does that put us? Gurdgiev asked.Eurasia Group, a New York-based research and consulting company, warned that the problems of the 16-nation eurozone won't stop with Ireland. It predicted a rescue plan for Portugal could be unveiled early next year, when Portugal needs to sell government bonds to finance spending.

There is a strong presumption that a package will be necessary for Portugal and the related planning is under way, Eurasia Group said. Portugal will be pressed hard to accept a package even if the Portuguese government claims the country does not need it.Analysts have estimated Portugal will need at least euro50 billion ($67 billion), but a bailout for Spain could be exponentially costlier. Outside help for Spain — the eurozone's fourth largest economy — could even mean the end of the eurozone itself, with either Spain forced out or Germany jumping ship back to its own Deutschmark currency.Spain is the ultimate crisis — the one that would really matter, Eurasia Group said.Sticking to a playbook used by every indebted nation so far, Spanish Finance Minister Elena Salgado insisted Wednesday that her nation doesn't need a bailout and that strict rules for the country's banks coupled with austerity measures cutting budgets, salaries and pensions will protect Spain's financial system.But even other politicians were skeptical and expressed nervousness about just how bad the economic turmoil in Europe could get.The crisis is not over, it is continuing to evolve. Europe is threatened by stagnation and the crisis of over-indebtedness is not yet finished, French Premier Francois Fillon warned. German Chancellor Angela Merkel and French President Nicolas Sarkozy — the two biggest heavyweights in the eurozone — will discuss current problems in the eurozone on Thursday.

Tempers even flared at the European Parliament in Strasbourg, France, where British legislator Godfrey Bloom was expelled from a debate on Ireland's financial meltdown after he called a German legislator an undemocratic fascist.Critics claim Merkel's harsh stance on austerity measures has spooked the markets and is one of the reasons other European nations are in dire need of such massive bailouts — criticism that she dismisses.Still, some countries have been in denial about the extent of their borrowing.Portugal has borrowed huge amounts to finance welfare benefits and private consumption, at the same time protecting jobs through labor laws some call outdated that make it difficult to hire and fire workers.Portugal's austerity package, due to be introduced Jan. 1, cuts state salaries, trims welfare benefits and hikes income tax and sales tax — but the measures are forecast to stifle already weak economic growth.In London, the university students and even younger pupils in school uniforms marched from Trafalgar Square toward Parliament chanting, No ifs! No buts! No education cuts! Hundreds of police officers kept watch as some students climbed on top of bus shelters. Several attacked a parked police van, smashing its windows and scrawling graffiti.The unrest could easily continue, because analysts said they see no immediate end in sight for Europe's financial upheaval.Portugal has yet to show that the measures taken to curb the deficit are indeed bringing public finances on a sustainable path, while Spain has yet to implement significant restructuring of its banking sector, said Marie Diron, chief economic eurozone adviser for Ernst & Young.
In this context, there is a danger that the Irish crisis cascades into (other) crises,she said.Rising doubts about eurozone countries' ability to repay debts have driven the yields on their bonds to euro-era highs in recent weeks. If they stay at these levels, it will drive up each nation's borrowing costs when they next sell bonds.Bond yields rose all across the eurozone again Wednesday. Spain's 10-year bonds topped 5 percent for the first time. Equivalent Irish bonds rose sharply to 8.9 percent, just short of a record high reached Nov. 11, the day before rumors of its bailout began. Portuguese bonds topped 7 percent for the first time since Nov. 11, too.Even Germany's 10-year bonds — a benchmark of global lending safety whose yields normally fall when the others rise — rose to above 2.7 percent, reflecting investors' concerns that Germany's own finances could be taxed by the weight of bailing out its neighbors.The yield on 10-year Greek debt, the highest in the world, edged close to 12 percent for the first time since May, right before its bailout.
Clendenning reported from Madrid. Associated Press writers from across Europe contributed.