Are they expecting something to happen? As you will read about below, the European Union says that any nation within the EU that does not enact “bail-in” legislation within the next two months will face legal action. The countries that are being threatened in this manner include Italy and France. If you fast forward two … Continue reading
All over the planet, large banks are massively overexposed to derivatives contracts. By Michael Snyder Interest rate derivatives account for the biggest chunk of these derivatives contracts. According to the Bank for International Settlements, the notional value of all interest rate derivatives contracts outstanding around the globe is a staggering 505 trillion dollars. Considering the … Continue reading
The Obama administration, much to its embarrassment, in recent weeks has been spurned by its Western allies that have flocked to the $50 billion Chinese-led Asian Infrastructure Investment Bank (AIIB) — a potential rival to the Western-led IMF and World Bank — despite pleas from the White House to stand back amid concerns that Beijing will extend its influence in the … Continue reading
This article was originally published on Zero Hedge By Tyler Durden It appears the sea of de-dollarization has reached the shores of Europe. With Australia and UK having already moved in the direction of joining the China-led AIIB, The FT reports that France, Germany, and Italy have now all agreed to join the development bank as ‘pivot to Asia’ appears to … Continue reading
Investment in the euro area, and particularly private investment, has not recovered since the onset of the global financial crisis. By Bergljot Bjørnson Barkbu, S. Pelin Berkmen, and Hanni Schölermann In fact, the decline in investment has been much more drastic than in other financial crises; and is more in line with the most severe of these crises … Continue reading
By Michael Ben-Gad Ever since Greece elected its new Syriza government, there has been growing talk of Greece defaulting on its debt and leaving the eurozone. I’ve been arguing that once Greece achieved a primary budget surplus it would default on its debt since late 2010, when Greece was negotiating its second bailout. This might not … Continue reading
By Alexander Orlov “You get what you pay for” – an old proverb goes. These days the West is beginning to reap the fruits of its own policies of creating “color” revolutions including on the very edge of its borders. On February 15 ISIL has opened a “second front” in the Arab World – heading this … Continue reading