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IMF ambulance too late for Portugese suicide. I stated yesterday that I thought the IMF jumping ship on the current fiscal plan could be a bellwether of change in direction for the Eurozone’s crisis response.

IMF ambulance too late for Portugese suicide

Last week we saw Italy’s Mario Monti announce a surprise change to low income earners tax rates while cutting the planned VAT increase and even Angela Merkel has stated that tax cuts are on the way in order to spur growth across the zone. I note, however , that both Schauble and Merkel are defending their current position on Greece, but Ms Merkel’s recent visit to Athens demonstrates there is probably further compromise coming once the final Troika report is delivered. That good news has been somewhat offset by Sweden’s Finance Minister reportedly claiming that it is “most probable” that Greece would leave the monetary union within six months. Obviously I am also still very concerned about the implementation of counter-productive policy in the Eurozone, but at least there appears a hint of change on the horizon.

Portugal and the drug war. Chicago, IL - The War on Drugs is a global war without end.

Portugal and the drug war

The battle takes more prisoners than all conventional wars combined and yet the availability of psychoactive substances never significantly diminishes. Those who sell and consume illegal drugs are subject to some of the harshest punishments ever meted out to human beings. In country after country, the punishments for those who violate drugs laws are often more severe than those for rape or murder. Unrelenting, international drug war hysteria whipped up by drug warriors at the United Nations Office on Drugs and Crime (UNODCP) makes the sale and consumption of illegal drugs seem more dangerous than the legal and equally lucrative business of selling arms and high-tech weaponry that actually kill far more people. Decriminalizing Drugs in Portugal a Success, Says Report. Pop quiz: Which European country has the most liberal drug laws?

Decriminalizing Drugs in Portugal a Success, Says Report

(Hint: It's not the Netherlands.) Although its capital is notorious among stoners and college kids for marijuana haze–filled "coffee shops," Holland has never actually legalized cannabis — the Dutch simply don't enforce their laws against the shops. The correct answer is Portugal, which in 2001 became the first European country to officially abolish all criminal penalties for personal possession of drugs, including marijuana, cocaine, heroin and methamphetamine. At the recommendation of a national commission charged with addressing Portugal's drug problem, jail time was replaced with the offer of therapy. Borrowing Costs Rise for Portugal Despite Deal on Bailout.

Portugal - curators...