Canada Walks Out Of European Trade Talks, "Deal Impossible"

With 'trade' at the center of any substantive differences between US presidential candidates, 1000s protesting 'trade' deals across Europe, 'trade' collapsing in China, and lame-duck Obama trying to push his 'trade' agenda, it is perhaps shocking that Canada’s trade minister walked out of talks to finalize a trade pact with the European Union, saying it now seems the bloc is incapable of reaching such agreements and that Canadian officials are returning home.

Why They Keep Trade Deals Secret

Thousands of people recently demonstrated in Brussels against free trade deals negotiated by the EU. This happened just days before a meeting of EU trade ministers in Bratislava last month, which was considered the last push to salvage the Transatlantic Trade and Investment Partnership (TTIP) between the EU and the United States. Not only is Europe divided on the deal, but the talks have been extremely secretive.

How To Solve The Migrant Crisis (In 2 'Easy' Steps)

"I'm all for immigration and completely open borders to enable opportunity seekers from anyplace to move anyplace else. With two big, critically important, caveats: 1) there can be no welfare or free government services, so everyone has to pay his own way, and no freeloaders are attracted 2) all property is privately owned, to minimize the possibility of squatter camps full of beggars."

Italy's 50 Year Bond Issue Set At €5 Billion: Nearly 4x Oversubscribed

The global search for yield continued this morning, when as reported yesterday, Italy was set to price its first ever super-long bond in the form of 50 year paper. According to Bloomberg, the issue size will be set at €5 billion, but what is more impressive is that with €18.5 billion in orders, it will be nearly 4x oversubscribed.

Italian Bond Yields Jump After Rome Confirms It Will Issue 50 Year Bonds

In a few days, Italy will become the latest nation to issue super-long bonds this year, following sovereigns including Belgium, France, Ireland and Spain in taking advantage of the historically low interest rates spurred by central bank stimulus. The market, however, was not impressed.

Inside France's "The Jungle" Migrant Camp

... the government's "irresponsible" plan to relocate migrants in Calais to other parts of France... would "proliferate a multitude of small Calais, genuine areas of lawlessness that exacerbate lasting tensions throughout the country."

Largest Dutch Bank To Fire Thousands

One day after Germany's second largest lender confirmed reports of a massive restructuring when it announced it would lay off nearly 10,000 employees, or about 20% of its entire workforce while slashing the bank's dividend for the rest of the year, the Dutch newspaper Het Financieele Dagblad reported that ING Groep, the largest Netherlands lender, will announce thousands of job cuts at its investor day on Monday.

Will The ECB Buy Stocks?

With The SNB and BOJ already neck deep in their equity-buying experimentation, and even Janet Yellen hinting at it for The Fed, the most pressing question on most liquidity-hunting central-planer-watchers is - when will Draghi start buying stocks? The short answer, from ABN AMRO, is ECB equity purchases are unlikely in the near term.. and even so, The ECB would be increasing the risk on its balance sheet for uncertain, and at best modest gains in economic growth and inflation.

Why The EU Is Doomed

We are accustomed to looking at Europe’s woes in a purely financial context. This is a mistake, because it misses the real reasons why the EU will fail and not survive the next financial crisis. We normally survive financial crises, thanks to the successful actions of central banks as lenders of last resort. However, the origins and construction of both the the euro and the EU itself could ensure the next financial crisis commences in the coming months, and will exceed the capabilities of the ECB to save the system.

European Leaders Discuss Plan For European Army

"We are going to move towards an EU army much faster than people believe." But the creation of a European army, a long-held goal of European federalists, would entail an unprecedented transfer of sovereignty from European nation states to unelected bureaucrats in Brussels, the de facto capital of the EU.