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History In the Balance: Why Greece Must Repudiate Its “Banker Bailout” Debts And Exit The Euro
History In the Balance: Why Greece Must Repudiate Its “Banker Bailout” Debts And Exit The Euro Now and again history reaches an inflection point. Statesman and mere politicians, as the case may be, find themselves confronted with fraught circumstances and stark choices. February 2015 is one such moment. For its part, Greece stands at a fork in the road. Syriza can […]
More euro-tragedy
More euro-tragedy Despite the uncertainties ahead of the Greek general election, the European Central Bank (ECB) went ahead and announced quantitative easing (QE) of €60bn per month from March to at least September 2016. What makes this interesting is the mounting evidence that QE does not bring about economic recovery. Even Jaime Caruana, General Manager […]
Ukraine “Truce”? Tanks Are Rolling In Poland As NATO Plans Permanent Eastern European Bases
Ukraine “Truce”? Tanks Are Rolling In Poland As NATO Plans Permanent Eastern European Bases With Ukraine, Germany, and France all expressing their concern this morning about “conflict escalation” between pro-Russian separatists and the Ukraine military, the so-called “truce” appears to be hanging by a thread of semanticism (despite OSCE’s please for respect of the cease-fire and the […]
It’s Greece vs Wall Street
It’s Greece vs Wall Street On the one hand, I’ve written so much about Greece lately I fear I’m reaching overkill. On the other hand, there’s so much going on with Greece, and so fast, that I wouldn’t know here to begin. Moreover, I’m thinking and trying to figure what is what and what is […]
ECB Euro QE Won’t Succeed
ECB Euro QE Won’t Succeed The European Central Bank (ECB) leaked the information beforehand to test the waters and this time followed through on their promise: Money printing galore in the form of 60 billion euros per month ($69 billion). ECB president Mario Draghi has been talking about it since 2012 and now finally got […]
EU teetering on brink of collapse
EU teetering on brink of collapse Europe won the Cold War. Not long after the Berlin Wall fell a quarter of a century ago, the Soviet Union collapsed, the United States squandered its peace dividend in an attempt to maintain global dominance, and Europe quietly became more prosperous, more integrated, and more of a player […]
Greece economy: Merkel rules out more debt relief
Greece economy: Merkel rules out more debt relief German Chancellor Angela Merkel has ruled out cancelling any of Greece’s debt, saying banks and creditors have already made substantial cuts. But Mrs Merkel told the Die Welt newspaper she still wanted Greece to stay in the eurozone. Greece’s left-wing Syriza party won last weekend’s election with […]
Can Syriza renegotiate Greece’s multi-billion bailout?
Can Syriza renegotiate Greece’s multi-billion bailout? Left-wing protest party facing up to the political reality of governing Europe’s most indebted nation. The Greek left-wing party Syriza gets down to work, after storming to power on an anti-austerity ticket. From protest party to ambitious political newcomers, Syriza is facing up to the political reality of governing […]
Currency Wars – Russia Buys 20.7 Tonnes Of Gold In December; Netherlands Refutes IMF Gold Data
Currency Wars – Russia Buys 20.7 Tonnes Of Gold In December; Netherlands Refutes IMF Gold Data UPDATE: Since we published our blog this morning, the Dutch central bank has denied that it added to its gold reserves in December. De Nederlandsche Bank, the Dutch central bank has denied reports in Reuters, Bloomberg and picked up […]
Greece Begins The Great Pivot Toward Russia
Greece Begins The Great Pivot Toward Russia Ten days ago, before the smashing success of Greece’s anti-austerity party, Syriza, we noted that Russia gave Greece a modest proposal: turn your back on Europe, whom you despise so much anyway, and we will assist your farmers by lifting the food import ban. And, sure enough, Greece’s new […]
More reasons for the financial markets to worry
More reasons for the financial markets to worry Five tests of unity that the eurozone will face this week. In the wake of Sunday’s election in Greece, the unity of the eurozone will come under close scrutiny this week. The financial markets were already in a state of excitement over the launch of quantitative easing […]
Mariupol-Donetsk-Frunza! Can Poroshenko Escape Crimes Against Humanity Trial?
Mariupol-Donetsk-Frunza! Can Poroshenko Escape Crimes Against Humanity Trial? A little over a week ago Petro Poroshenko ordered an all out assault on Donetsk and Lugansk People’s Republics. Faced with massive losses during the first few days the Poroshenko regime has resorted unsuccessfully to get both republic’s listed as terrorist organizations by the EU and United […]
Russian Sanctions Might Be Obama’s Greatest Blunder
Russian Sanctions Might Be Obama’s Greatest Blunder One of the greatest foreign policy blunders of the Obama Administration was the push by the U.S. for economic sanctions against Russia. That led to Russia fleeing into the arms of China for refuge. In response, Russia, Europe’s largest and most populated country, is now intent on moving […]
Freedom, Where Are You? Not in America or Europe
Freedom, Where Are You? Not in America or Europe When the former Goldman Sachs executive who runs the European Central Bank (ECB) announced that he was going to print 720 billion euros annually with which to purchase bad debts from the politically connected big banks, the euro sank and the stock market and Swiss france shot […]
Is This The Day Europe Gets Its Future Back?
Is This The Day Europe Gets Its Future Back? With The Greek election in full motion, and first results perhaps 12 hours away, It would seem useful, no matter how the Greeks vote, to lay to rest a few misconceptions, and to expose a few ‘conceptions’ that have – largely – remained buried to date. […]
