urban terrasse

urban terrasse

'urban terrasse' by damien gires
photos by catalina sour



'urban terrasse' is a piece of DIY communicative street furniture which is meant to allow cafés and private views to 'spill out' onto the streets. 
conceived by french designer damien gires, the simple construction of the tables are made from printable and foldable recycled cardboard 
which have been developed in a way that they can be attached to existing anti-parking posts along the sidewalk, 
transforming the street infrastructure into temporary occasional surfaces for use to place a drink or bag. the graphics exhibited on the
'urban terrasses' can be customized according to one's needs, acting both as functional furniture piece and advertising medium at the same time. 



'urban terrasse' in use



graphic design based off needs of business



assembly

 

£20m 'Memo' project takes shape on Dorset's Jurassic coast

Sebastian Brooke was out of work, a jobbing stonemason without a job, when in the autumn of 2006 his brother said to him: "Make me something." So began Brooke's journey through the history of the Earth; down into the Underworld, like a modern Orpheus, and coming back up again to bear witness to all the lost souls, saving them from oblivion with a plan to carve an epitaph to every species that once inhabited our planet but is no longer around. It's reincarnation in rock. The story of this "Memo" project begins with the Great Fire of London. In 1666, most of London – made largely of timber and thatch – was destroyed after a fire broke out in a bakery in Pudding Lane. London as we now know it rose from the ashes, largely thanks to Christopher Wren, who built St Paul's and much of Whitehall. But the Great Fire was also the making of Robert Hooke, then a journeyman scientist specialising in microscopy, who became surveyor to the City of London. Standing on the site of the Royal Exchange in 1668 and inspecting the great stone blocks that had been hauled up from Portland to be used in its construction, Hooke observed that they were pitted and veined with strange geometries. And he realised that the shapes were the traces of creatures that had once inhabited the Earth. These giant ammonites ("of a prodigious bignesse") were so unlike any living species that they must represent the remains of a species "totally destroyed and annihilated". It came as a shock to religious belief: the notion that the Apocalypse began shortly after Genesis subverted the notion of a fixed Chain of Being put in place by God for all time. The scientific theory of extinction was not fully established until the end of the 18th century. But the vision of extinction was born right here. "The Earth itself," Hooke wrote, "so neer us, under our feet, shews quite a new thing to us, and in every little particle of its matter, we now behold almost as great a variety of creatures as we were able before to reckon up on the whole Universe it self." By an odd quirk of synchronicity, several thousand miles away on the island of Mauritius, in the Indian Ocean, around the same time that Hooke was surveying London, the last surviving dodo was trying to sprint away from its pursuers. Until the end of the 16th century, this flightless bird lacked predators. Suddenly, it was surrounded by them. It was reputedly fearless of humans, which was its big mistake. Cue extinction, less than a century after its discovery. Over 3ft tall, and weighing up to 50lb – and now it was nothing but a memory, almost a myth. In a similar vein, I once went on a moa hunt in New Zealand. Rather like the dodo, the moa had been large, feathered, but wingless. And had duly disappeared. But this didn't stop one hopeful New Zealander (with me in tow), trying to track one down a few years back. Need I add, we were out of luck. The moa, if it is hiding, is tucked away on that same plateau somewhere in South America that Arthur Conan Doyle conjured up in The Lost World – a Shangri-La of non-extinction. Memo – the Mass Extinction Monitoring Observatory – is probably the closest we will get to discovering that Lost World. According to the Red List, an inventory kept by the International Union for the Conservation of Nature, more than 800 species have died out since 1500. One estimate has it that more than 99.9 per cent of all species have already disappeared – and what we are seeing now (including us) is the merest leftover. Of these, nearly 20,000 are now on the brink. What we are witnessing is "the sixth Mass Extinction Event" – an event being caused by us. Sir Crispin Tickell, chairman emeritus of the Climate Institute in Washington and a patron of the project, believes that the current rate of extinction makes our geological epoch, the Holocene, comparable to the Cretaceous and its great dinosaur holocaust. "There are a few species k that have survived over long periods," he says, "but they are the exception. For species to keep going, environmental circumstances have to remain constant. And, of course, they don't. So you adapt or die." Dragonflies have been around for 300 million years; birds are the descendants of dinosaurs – but the Earth's crust is a giant graveyard. As Tickell says, "We are walking around on the remains of living organisms." And, in recent times, our species has been responsible – via deforestation, habitat destruction, global warming, and chemical pollution of the biosphere – for stomping them down there in the first place. Tickell argues that future geologists will refer to this era not as the Holocene (which began with the end of the last Ice Age around 12,000 years ago) but the "Anthropocene" – dominated by anthropos, humankind – "because we have changed the character of the earth, the sea, and the sky". Back in 2006, Brooke's big idea was this: to carve the likenesses of a few non-existent species or rare and precarious ones. He had no idea he was starting a global snowball. Soon the Royal Society took an interest, and then so did the Eden Project creator Tim Smit. Edward O Wilson, the Harvard biologist acknowledged as the father of biodiversity, signed up as a patron. When Brooke joined forces with David Adjaye, the London-based architect, the vision began to take concrete form: or rather, Portland stone form. And in Portland. For while Memo is universal, it is also site-specific. Smit, who is sceptical about the "taxonomic arrogance" of museums in general, waxes lyrical about Memo. "It's a cathedral to an idea: that we are part of something, not apart from it. It gives you a spiritual awareness of the oneness and fragility of a planet flying through the middle of nothing." It could be, he reckons, a cultural icon, but also "a place to go and reflect on Gaia, the interdependence of all life, and to feel a greater sense of humility". Portland bears some resemblance to a lost world itself. Geomorphologically speaking, this 6km by 2.4km island, the southernmost point of Dorset, is unique. Take the train to Weymouth, 120 miles south-west of London, then weave along the narrow strip of Chesil Beach that connects the "isle" tenuously to the mainland, past countless windsurfers and kite-surfers, then keep on climbing 500ft right up to the highest plateau. There, on the day I visit, stands Brooke, sounding a bell outside the walls of a castle built by Henry VIII. Or rather he is encouraging an old lady to whack his bell with a rubber hammer. "Why has it got all these bits hanging off the outside?" she chirps. This is a smaller brother of the 10ft-diameter bell that will be tolled in the Memo belltower to signal the demise of yet another species. At the rate we are going, it's going to be as regular as Big Ben. The bell was originally cast in stone by Marcus Vergette – something not done since the advent of the Bronze Age – using the form of Portland "roach" stone first analysed by Hooke, shot through with the imprints of Jurassic sea entities, like the name Brighton running through a stick of rock. "I thought it had been dredged up from somewhere," says the old lady. Finished in bronze, the bell now outwardly displays all those species on its surface, making it crusty and blobby, like a miniature Gaudi cathedral. "They've been holes for 150 million years," Brooke says, referring to the ex-lifeforms entombed in stone. "Now we're giving them a voice." It's like a 3-D snapshot of extinction. And its tone is at once both joyous and melancholy. Something similar could be said of the Adjaye building, a helical enclosure of Portland limestone open to the sky in which the belltower will sit. Adjaye was so inspired by the project that he donated the design. He originally thought of an hour-glass shape to mark the sense of time passing. But the narrow, waspy waist would have required disproportionate ingenuity (and expense). So he chopped it in two – half-an-hour-glass – and worked instead on the concept of the spiral or helix. The final design is an elegy to the ammonite. "The inspiration came from the rock," Adjaye says. "The beginning of life on our planet. The spiral was intrinsically architectural. But think of the solar system and the structure of DNA – we're all swinging through these concentric spirals." The tower will be a continuous spiral lined with stone carvings all the way up – but with a great void in the middle, which is symbolic (of extinction) but also useful for staging mass events. Educational displays will probably be located in a section buried below ground. At the age of 43, Brooke has something of the rainforest about him, something organic, rugged, weather-beaten: crooked nose, uneven teeth, windblown hair, untended beard. We stand on the spot, on the west of Portland, where Memo will rise up out of the Jurassic Coast (our only World Heritage Site). The sea below is a perfect azure; the quarried blocks beneath our feet a wonderful creamy, chalky, whiter shade of pale. With creatures – thousands of them. Millions: limestone is nothing but the remains of living things. It's ex-plankton. When Dr Johnson wanted to disprove Bishop Berkeley's argument that nothing exists, he kicked a large stone and said: "I refute it thus." It exists; we exist. Brooke's stone is like that: it shouts out existence – the lives and endlessly reiterated deaths of so many creatures. And it is a narrative that will be added to again and again, so long as species are dying. Like an extinction blog – written in part by schoolchildren, whose work will be exhibited inside the building alongside the creations of professional stone-carvers. "It speaks to me of absence," Brooke says moodily, looking out over the quarries that have been the life of the island. "For centuries people have come here, dug up great chunks of the place and hauled it away with ropes and barges to build other places." Indeed, since Roman times, 6 million tons of what used to be Portland have been carted away and turned into London or New York. There are holes here the shape of St Paul's, the Old Bailey and the Cenotaph. "Now I want to put something back again – to restore it to itself." Some Portlanders wanted Memo buried in the earth, so it wouldn't spoil the skyline. But it had to be visible – and audible. The project has now been greenlighted to go ahead on land owned by the Albion Stone and Crown Estate. The cost: £20m. The timetable: 18 months' fundraising (starting now), another 18 months to complete. Yet it already has a soul. And I can't help wondering: what manner of creature will remain to toll the bell when the species that has already destroyed so much is finally itself destroyed? When the final homo sapiens go the way of the dodo? For this, surely, is what that old lady and I realised when we looked into one another's eyes and listened to the tones of that beautiful bell: send not to know for whom the bell tolls; it tolls for thee.

 

Man stranded in desert builds motorcycle out of his broken car

Citroen 2CV motorcycleAccording to Merriam-Webster, ingenuity can be defined as "skill or cleverness in devising or combining" or "cleverness or aptness of design or contrivance." We'd say that's an apt description of a Frenchman named Emile who reportedly found himself stranded in the deserts of Northwest Africa after breaking a frame rail and a suspension swingarm underneath his Citroën 2CV.


What to do? Why, disassemble the broken hulk and build yourself a motorcycle from its pile of parts, of course! As the story goes, Emile was able to use the inventive machine to escape the desert, though not before convincing the local authorities that he wasn't an insurgent and paying a fine for importing a non-conforming vehicle...

Since Emile was the only soul in the area, nobody has been able to confirm the veracity of the events that led to the little French runabout's conversion into a makeshift motorcycle. That said, judging by the images you can see here (apparently from the March 2003 issue of 2CV Magazine), this Citroën-bred two-wheeler does indeed exist, and it was definitely fashioned from parts scavenged from an old 2CV.

Emile, wherever you are, we take our hats off to your real-life MacGyver skills, sir.

 

ON CLOUD NINE: BATH SALTS BY ANOTHER NAME... WITH STRONG COMPULSIONS TO REDOSE

After the recent stream of disturbing news reports of people eating others' flesh, Hornaday Manufacturing has released bullets that promise to ‘make dead permanent.’

The ammunition, branded as Zombie Max offers Proven Z-Max bullets, is live ammunition, but is actually only intended for use on targets – not people.

Scroll down for videos

The Walking Dead: Hornady Manufacturing has started selling Zombie bullets, 'just in case'; it is live ammunition

The Walking Dead: Hornady Manufacturing has started selling Zombie bullets, 'just in case'; it is live ammunition

A violent attack in Scott is eerily similar to a case out of Florida connected to the dangerous bath salts line drug known as Cloud Nine
Police arrested homeless Brandon De Leon on Saturday Deleon on June 2

Attacks: Carl Jacquneaux, left, who was arrested for allegedly biting another man's face and Brandon De Leon, right, who allegedly tried to bite two policemen while threatening to eat them

 

Hornaday spokesman Everett Deger told WWJ Newsradio 950 that the company’s president has a love of zombie culture – including popular shows like the Walking Dead – and was inspired to make the bullets in honour of the cultural phenomenon. 

ON CLOUD NINE: BATH SALTS BY ANOTHER NAME... WITH STRONG COMPULSIONS TO REDOSE

Cloud Nine bath salts

The 'bath salts' sold under the name Cloud Nine are likely to be stimulant drugs such MPDV or ephedrine. 

'Bath salts' does not refer to a single chemical, but instead to a range of synthetic drugs that can be sold legally in the U.S. as long as they are not marked for human consumption – hence the misleading name.

Drugs such as MPDV are highly potent stimulants, similar to some amphetamines, and in MPDV's case particularly, cause a strong compulsion to 'redose' with more of the drug. 

In high doses, such drugs can cause violent and unpredictable behaviour, and terrifying hallucinations – and the compulsion to take more of the drug continues, even once the 'high' has begun to make the user feel bad.

Various different compounds use the name 'Cloud Nine', and it's still not confirmed which exact chemical was in the drug reported to have caused these attacks, but some reports have pointed the finger at MPDV. 

The chemical is already illegal in Florida – although other 'bath salts' remain perfectly legal in the state.  

 

‘We decided just to have some fun with a marketing plan that would allow us to create some ammunition designed for that…fictional world,’ he told the radio station.

Mr Deger noted that the bullets are some of the ammunition company’s most popular products.

The news comes as two more cannibal attacks have been reported in the US as police warn of a dangerous new mind-altering drug called Cloud Nine.

 

Last week Rudy Eugene - who is believed to have taken the over-the-counter ecstasy-like drug - growled at officers as he chewed off most of a homeless man's face before being shot dead by Miami police.

Since then two further incidents have been linked to the substance, which is part of a new line of 'bath salts'.

 

 

More...

  • Revealed: Miami cannibal's girlfriend shows herself in public for the first time and claims her beau was carrying a BIBLE before the attack
  • Caught on camera: The moment woman driver rams into pedestrian and travels for hundreds of yards with him clinging on 'because of her hormones'
  • Revealed: The videos 'Canadian cannibal' sent to his 'fans' while on the run from police - and one of them contains infamous song from American Psycho

 

The second occurred on Saturday when a snarling homeless man, identified as Brandon De Leon, threatened to eat two officers, echoing the Miami attack.

A third incident took place in Louisiana where Carl Jacquneaux, 43, bit off a chunk of his victim's face. Miami police have issued a warning about Cloud Nine and told their officers to exercise extreme caution when dealing with homeless men who appear to be acting unusually.

Police investigating the case of Rudy Eugene, who ate the face off a homeless man, say as well as being naked, he was carrying a bible.

Some pages had been ripped out of the book and were found close by, according to CBS Miami. A preliminary toxicology examination has also found that the 31-year-old had been smoked cannabis shortly before the incident.

They were forced to fit 21-year-old De Leon with a Hannibal Lecter-style mask after he was arrested for disturbing the peace in North Miami Beach. When put in a police cruiser De Leon slammed his head against the plexiglass divider and shouted at officers, 'I'm going to eat you', NBC Miami reported. 

He then growled, gnashed his teeth and tried to bite the hand of an officer attempting to treat his head wounds.

'Brandon growled and opened and closed his jaw, slamming his teeth like an animal would,' the report said. Miami police said they believe he was on a cocktail of drugs, including Cloud Nine. 

In a second case Carl Jacquneaux, 43, is accused of attacking Todd Credeur at his home in Scott, Louisiana, over the weekend after he became upset following a domestic issue.Victim: Todd Credeur, though in shock, managed to spray his attacker in the face with wasp spray to stop him from eating any more of his face

Victim: Todd Credeur, though in shock, managed to spray his attacker in the face with wasp spray to stop him from eating any more of his face

 

Scene: Todd Creneur was attacked while working on the yard outside his home in Scott, Louisiana

Scene: Todd Creneur was attacked while working on the yard outside his home in Scott, Louisiana

 

KATC reported that Mr Credeur was working in his front yard when he was attacked.

Scott Assistant Police Chief Kert Thomas said: 'During the attack, the suspect bit a chunk of the victim's face off.'

Mr Credeur reportedly managed to spray Jacquneaux in the face with wasp spray to stop him from eating any more of his face.

Jacquneaux then allegedly left the home and went to another man's home where he held him at knife point and stole a hand gun. This is where police found him and arrested him.

A friend of the victim said she believes Jacquneaux was under the influence of Cloud Nine, which is the same drug which is believed to have been taken by the 'Miami Cannibal' Rudy Eugene.

Eugene ate the face of homeless man Ronald Poppo in Miami last week and a police memo to officers has highlighted the dangers surrounding the drug's use. 

It warned the De Leon case 'bears resemblance to an incident that occurred in the city of Miami last week, when a male ate another man's face'.

'Please be careful when dealing with the homeless population during your patrols.'

Police have suggested Eugene was under the influence of the synthetic stimulant usually sold in drug paraphanelia shops.

Cloud Nine is 'addictive and dangerous', the memo said, part of a 'disturbing trend in which new drugs are sold in the guise of household products'.

The drug, which is also as Ivory Wave in the U.S., comes in harmless-looking packets, police said, adding that it is illegal in Britain and Australia.

Rudy Eugene attacked and chewed the face off a homeless man
Ronald Poppo was attacked by a man who hurled him to the ground and tore into his face with his teeth

Crazed attack: Cloud Nine, which is the same drug which is believed to have been taken by the 'Miami Cannibal' Rudy Eugene (left) when he savagely attacked 65-year-old Ronald Poppo (right)

The potentially addictive drug stimulates the central nervous system and symptoms include heart palpitations, nausea, hallucinations, paranoia and erratic behaviour.

The series of shocking incidents began on May 26 when a naked Eugene encountered his victim, 65-year-old Ronald Poppo, who was sleeping in the shade on elevated train tracks.

In surveillance footage from the nearby Miami Herald building, Eugene was seen struggling with the naked homeless man, throwing him to the ground and then tearing into his face with his teeth as cars and bicycles sped by.

About 18 minutes into the attack, an officer appeared on the scene and yelled at Eugene to stop, but the 31-year-old just growled at him and continued chewing Poppo’s face.

The officer then opened fire on Eugene, shooting him to death.

Enlarge Horrific attack: The spot on MacArthur Causeway where a man was killed after chewing the face off a stranger

Horrific attack: The spot on MacArthur Causeway when a man was killed after chewing the face off a stranger

 

Poppo miraculously survived the attack, but was left without a nose, mouth or eyes

Disfigured: Poppo, here on a stretcher, miraculously survived the attack, but was left without a nose, mouth or eyes

Poppo remains in critical condition at Jackson Memorial Hospital with his nose, mouth and eyes torn off. He faces months of treatment to rebuild his features and psychological care.

Controversially this week the scene of the attack on Poppo has been Miami added to sites visited by a tourist tour's itinerary.

The famous Miami Mystery & Mayhem: Crime Tour tour led by Miami-Dade College professor Dr Paul George will stop on the road that connects downtown Miami to popular South Beach.

Dr Paul told the South Florida Business Journal: 'Horrible as it was, it is part of our history. Currently, our tour takes us over the causeway right past the site, so this fits well.'

In a completely separate case not involving the drug, Canadian Luka Rocco Magnotta has been sent back to his country from Germany after an international manhunt.

He is alleged to have killed his partner, Jun Lin, before eating parts of his body then chopping it to pieces that were then posted to different authorities. Mr Lun's head has not yet been found.

'ZOMBIE APOCALYPSE': RECENT CANNIBAL ATTACKS ACROSS AMERICA

shows Rudy Eugene, the man who was shot dead by police as he ate the face of a homeless man during Memorial Day weekend in Miami.

Since Rudy Eugene attacked and ate the face of homeless man Ronald Poppo on May 26 in Miami, Florida, while allegedly high on 'bath salts' there has been a spate of similar attacks.

The 'Miami Cannibal' case shocked the nation after police had to shoot dead Eugene when he refused to stop eating his victim's face off. Poppo is now recovering in hospital with horrific injuries.

 

 Police arrested homeless man Brandon Deleon on June 2

Brandon DeLeon, 21, was high on drugs and drunk on Four Loko on June 2 when he tried to bite off a police officer’s hand after he was arrested for disturbing customers in a Miami fast food restaurant.

The homeless man repeatedly banged his head against the patrol car’s Plexiglas and yelled, ‘I’m going to eat you.’

At the police station, De Leon tried to bite the officer who was taking his blood pressure and tending to his self-inflicted wounds. The police report noted that he 'growled and opened and closed his jaw slamming his teeth like an animal would.'

 

A violent attack in Scott is eerily similar to a case out of Florida connected to the dangerous drug known as bath salts

Carl Jacquneaux, 43, is accused of attacking Todd Credeur at his home in Scott, Louisiana, over the weekend after he became upset following a domestic issue.

Mr Credeur reportedly managed to spray Jacquneaux in the face with wasp spray to stop him from eating any more of his face.

A friend of the victim said she believes Jacquneaux was under the influence of Cloud Nine, which is the same drug which is believed to have been taken by the 'Miami Cannibal' Rudy Eugene.

 

 Alexander Kinyua, a 21-year-old Kenyan college student accused of killing a housemate.

Alex Kinyua, 21, a college student, used a knife to carve up Kujoe Bonsafo Agyei-Kodie, 37, before eating his heart out and parts of his brain.

He then took to his social networking site to boast about it to his friends saying: 'Are you strong enough to endure ritual HBCU mass human sacrifices around the country and still be able to function as human beings?'

He referred to the tragic shootings at Virginia Tech and 'other past university killings around the country' and warned 'ethnic cleansing is the policy, strategy and tactics that will affect you, directly or indirectly in the coming months.'

 




 

A mind-altering drug banned in Britain two years ago is being blamed for the spate of cannibal attacks in America.

Narcotic Cloud Nine was blamed for the attack when Rudy Eugene ate 75% of homeless man Ronald Poppo’s face in Miami last month.

Horrific images surfaced of the attack that only ended once police shot and killed 31-year-old Eugene.

Mr Poppo is still recovering from his injuries in hospital.

Police are now warning people to stay away from Cloud Nine – also known as ‘bath salts’ - after two similar attacks were reported.

The most recent prompted an internal memo to police warning officers the case “bears resemblance to an incident that occurred in the city of Miami last week, when a male ate another man’s face”.

The memo called the synthetic drug “addictive and dangerous” and said it was part of a “disturbing trend in which new drugs are sold in the guise of household products”.

It added: “Please be careful when dealing with the homeless population during your patrols.”

 

This undated booking mug made available by the Miami-Dade Police Dept., shows Rudy EugeneRudy Eugene, 31: Ate 75% of a man's face in Miami before being shot dead

AP

Brandon De Leon, who allegedly tried to bite and threatening to eat two policemen in MiamiBrandon De Leon, 21: Tried to bite two police officers after he was arrested in North Miami BeachCarl Jacquneaux, who was arrested for allegedly biting another man's faceCarl Jacquneaux, 43: Bit a man's face in Scott, Louisiania. Wasp spray was used to end the attackAlexander KinyuaAlex Kinyua, 21: Accused of eating the heart and brain of friend in Maryland

Splash

The Silence of the LambsHorror: Film cannibal Hannibal Lecter

Channel 5

 

During the latest attack homeless Brendon De Leon threatened to eat two Miami police officers and had to be fitted with a Hannibal Lecter-style mask to prevent him carrying his threats out.

He had been arrested for disturbing the peace in North Miami Beach while high on drugs and put in a police cruiser when he slammed his head against the plexiglass divider and shouted: “I’m going to eat you” to officers before growling and baring his teeth.

Miami police said they believe he was on a cocktail of drugs including Cloud Nine.

In another case, Carl Jacquneaux, 43, was accused of attacking Todd Credeur in his front garden in Scott, Louisiana, over the weekend after being upset over a domestic issue while under the influence of what is said to be bath salts.

Jacquneaux bit Mr Credeur before being sprayed in the face with wasp spray.

Scott Assistant Police Chief Kert Thomas said: “During the attack, the suspect bit a chunk of the victim’s face off.”

Jacquneaux was then said to have left the property and gone to another man’s home where he held him at knife-point and stole a handgun before being apprehended by police.

The drug, which is also known as Ivory Wave, was blamed for several deaths in Britain during 2010 before being banned. It is also illegal in Australia.

The potentially addictive drug stimulates the central nervous system and symptoms include heart palpitations, nausea, hallucinations, paranoia and erratic behaviour and is often sold in plain packaging with the contents purporting to be harmless.

 

Bank of England meets amid talk of £50bn stimulus

Bank of England policymakers meet today to decide whether to change interest rates or to pump in more money into the ailing economy, with leading economist saying they may opt to inject a further £50bn of stimulus.

 

Europe is on the verge of financial chaos.

Global capital markets, now the most powerful force on earth, are rapidly losing confidence in the financial coherence of the 17-nation euro zone. A market implosion there, like that triggered by Lehman Brothers collapse in 2008, may not be far off. Not only would that dismantle the euro zone, but it could also usher in another global economic slump: in effect, a second leg of the Great Recession, analogous to that of 1937. This risk is evident in the structure of global interest rates. At one level, U.S. Treasury bonds are now carrying the lowest yields in history, as gigantic sums of money seek a safe haven from this crisis. At another level, the weaker euro-zone countries, such as Spain and Italy, are paying stratospheric rates because investors are increasingly questioning their solvency. And there’s Greece, whose even higher rates signify its bankrupt condition. In addition, larger businesses and wealthy individuals are moving all of their cash and securities out of banks in these weakening countries. This undermines their financial systems. 423 Comments Weigh InCorrections? Personal Post The reason markets are battering the euro zone is that its hesitant leaders have not developed the tools for countering such pressures. The U.S. response to the 2008 credit market collapse is instructive. The Federal Reserve and Treasury took a series of huge and swift steps to avert a systemic meltdown. The Fed provided an astonishing $13 trillion of support for the credit system, including special facilities for money market funds, consumer finance, commercial paper and other sectors. Treasury implemented the $700 billion Troubled Assets Relief Program, which infused equity into countless banks to stabilize them. The euro-zone leaders have discussed implementing comparable rescue capabilities. But, as yet, they have not fully designed or structured them. Why they haven’t done this is mystifying. They’d better go on with it right now. Europe has entered this danger zone because monetary union — covering 17 very different nations with a single currency — works only if fiscal union, banking union and economic policy union accompany it. Otherwise, differences among the member-states in competitiveness, budget deficits, national debt and banking soundness can cause severe financial imbalances. This was widely discussed when the monetary treaty was forged in 1992, but such further integration has not occurred. How can Europe pull back from this brink? It needs to immediately install a series of emergency financial tools to prevent an implosion; and put forward a detailed, public plan to achieve full integration within six to 12 months. The required crisis tools are three: ●First, a larger and instantly available sovereign rescue fund that could temporarily finance Spain, Italy or others if those nations lose access to financing markets. Right now, the proposed European Stability Mechanism is too small and not ready for deployment. ●Second, a central mechanism to insure all deposits in euro-zone banks. National governments should provide such insurance to their own depositors first. But backup insurance is necessary to prevent a disastrous bank run, which is a serious risk today. ●Third, a unit like TARP, capable of injecting equity into shaky banks and forcing them to recapitalize. These are the equivalent of bridge financing to buy time for reform. Permanent stability will come only from full union across the board. And markets will support the simple currency structure only if they see a true plan for promptly achieving this. The 17 member-states must jointly put one forward. Both the rescue tools and the full integration plan require Germany, Europe’s strongest country, to put its balance sheet squarely behind the euro zone. That is an unpopular idea in Germany today, which is why Chancellor Angela Merkel has been dragging her feet. But Germany will suffer a severe economic blow if this single-currency experiment fails. A restored German mark would soar in value, like the Swiss franc, and damage German exports and employment. The time for Germany and all euro-zone members to get the emergency measures in place and commit to full integration is now. Global capital markets may not give them another month. The world needs these leaders to step up.

 

A Facebook crime every 40 minutes

A crime linked to Facebook  is reported to police every  40 minutes. Last year, officers logged 12,300 alleged offences involving the vastly popular social networking site. Facebook was referenced in investigations of murder, rape, child sex offences, assault, kidnap, death threats, witness intimidation and fraud.

 

Prince Philip in hospital

The Duke of Edinburgh has been taken to hospital with a bladder infection and will miss the rest of the Diamond Jubilee celebrations. Buckingham Palace said Prince Philip, 90, had been taken to the King Edward VII Hospital in London from Windsor Castle as a "precautionary measure". The Queen is still expected to join 12,000 others at the Jubilee concert which is under way at the palace. The prince will remain in hospital under observation for a few days. The prince had appeared to be in good health when he accompanied the Queen on Sunday on the royal barge the Spirit of Chartwell, which formed part of the rain-drenched Jubilee river pageant. He and the Queen stood for most of the 80-minute journey, as they were accompanied by 1,000 boats travelling seven miles down the river to Tower Bridge.

 

Luka Rocco Magnotta, the 'Canadian Psycho,' arrested in Berlin

Luka Rocco Magnotta was arrested in Berlin Monday after a four-day international manhunt that spanned three countries. The 29-year-old Canadian wanted over a horrific Montreal ice pick murder and decapitation of a Chinese student that he allegedly filmed and posted to the Internet, was arrested in or near an Internet cafe, Berlin police said. Montreal police confirmed they are aware of the reports that Magnotta was arrested, but said they are still in the process of contacting their Berlin counterparts. The arrest comes after French authorities said they were investigating a tip that Magnotta travelled from Paris to Berlin via bus on the weekend. “Somebody recognized him and (then) all the police recognized him,” Berlin police spokesperson Stefan Redlich told CP24 Monday. Handout (Click to enlarge) Magnotta's alleged victim is Lin Jun, a 33-year-old Concordia University student from Wuhan, Hubei, China. He was last seen on May 24, police said, and reported missing on May 29. Redlich said police were called in by a civilian who spotted Magnotta and he was arrested after police asked for his identification at about 2:00 p.m. local time in Berlin. Reuters is reporting it was an employee of the cafe, Kadir Anlayisli, that recognized Magnotta. The cafe is on Karl Marx Strasse, a busy shopping street filled with Turkish and Lebanese shops and cafes in the Neukoelln district of Berlin. German television quoted the owner of the cafe saying Magnotta was surfing the Internet for about an hour before his arrest. Redlich said Magnotta has been taken into custody without incident and will go in front of a judge Tuesday. Canadian officials are expected to start the extradition process for Magnotta in the near future.

 
 
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