This tag is associated with 40 posts

China’s Financial Footprint In Europe

The EU’s crisis-prone periphery has largely welcomed China’s financial penetration of Europe. That’s not a sentiment shared by the Eurozone’s leading states, observes Nicola Casarini. They’re concerned that Chinese investments will make it difficult for Brussels to adopt critical stances against Beijing in the future. By Nicola Casarini China’s financial footprint is spreading across Europe, … Continue reading

The ECB’s Noose Around Greece: How Central Banks Harness Governments

By Ellen Brown Remember when the infamous Goldman Sachs delivered a thinly-veiled threat to the Greek Parliament in December, warning them to elect a pro-austerity prime minister or risk having central bank liquidity cut off to their banks? (See January 6th post here.) It seems the European Central Bank (headed by Mario Draghi, former managing … Continue reading

Euro Continues To Fall To New Record Low Levels

“The euro and the dollar are nearly trading one for one, as the EU single currency continues to fall to new depths after the announcement of the ECB’s quantitative easing, the €1.1 trillion bond-buying program launched Monday,” RT reports. The euro has been on a steep decline since the European Central Bank announced its loose … Continue reading

Neo-Medievalism: Austerity And Extremism In Greece

John Rapley believes that ‘neo-medieval’ forms of governance are appearing on the global stage. In fact, this phenomenon may not be confined to the developing world. Embryonic forms of neo-medievalism have appeared in Greece and could spread to the rest of Europe. By John Rapley During the negotiations over an extension of Greece’s bail-out, the … Continue reading

Greek Stock Surge 7%, On Hopes Of €172B Rescue Plan Extension

Greek stocks were surging over 7% in early trade on Tuesday morning following a submitted listed of reforms to EU creditors around midnight on Monday from Athens. Should the reforms get the green light, this will pave the way for an extension of the country’s €172 billion bailout until June. The government of Greece sent a list … Continue reading

How Greece’s Euro Stalemate Is Hurting Currency Markets

The drawn-out negotiations between Greece and its European creditors have the financial markets in turmoil at the idea of a Greek exit. The uncertainty brought about by the new Syriza government can be seen in the effect it has had on currency. The euro has depreciated sharply against most major currencies in recent months, including … Continue reading

Greece, Eurozone Finance Ministers Reach Agreement To Extend Bailout

European Union (EU) finance ministers agreed on Friday to help heavily indebted Greece out of its financial straits by extending its bailout by four months. The Greek government’s total debt amounts to $367 billion, or 170% of its gross domestic product (GDP). The country’s debt to the troika of creditors comprising of the European Union (EU), the … Continue reading

Could Greece Sue The ECB?

By Neil Wilson One thing I’ve noticed about the European Central Bank (ECB) is that it likes to publish woolly worded documents and then brief its preferred interpretation of them to those who hang around in the lobby. Those then get written up and disseminated to become The Truth in the classic repeated assertion fashion … Continue reading

U.N. Holds Behind The Scenes Greek Derivatives Talks As Transparency Questions Raised

A key option in Greek debt negotiations, sovereign debt forgiveness, is apparently off the table as non-transparent Greek derivatives take priority over a compromise. The most unreported story in the Greek negotiation is the unknown impact of the derivatives contracts that underlie the economic system. What banks have exposure? Who is the primary U.S. regulator dealing with the … Continue reading

Greece Has Plan B – Panos Kammenos

So far Greece has not managed to secure a new debt agreement with the Eurozone. Panos Kammenos, the Greek Defence Minister, suggested that his country is willing to consider different options. He indicated that Greece could look for help outside of the Eurozone. On Tuesday, during one of the Greek television shows, Kammenos said “What we want … Continue reading

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