Bulgaria

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The Greek "White Knight" Emerges: Putin To Give Athens €5 Billion For Advance Gas Pipeline Fees





With Greece teetering on the edge of insolvency and forced to raid pension and most other public funds, ahead of another month of heavy IMF repayments which has prompted even the ECB to speculate Greece should introduce a parallel "IOU" currency, a white knight has appeared out of nowhere for Greece, one who may offer $5 billion in urgently needed cash. The white knight is none other than Vladimir Putin.

 
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The Global Liquidity Squeeze Has Begun





The entire global financial system resembles a colossal spiral of debt. Just about all economic activity involves the flow of credit in some way, and so the only way to have “economic growth” is to introduce even more debt into the system. Unfortunately, any system based on debt is going to break down eventually, and there are signs that it is starting to happen once again.

 
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Greek Bank "Quarantine" Abroad Sparks European Selloff





A large number of European countries have effectively quarantined Greece in a bid to minimize the consequences on their credit systems in case of a Greek "accident." As ekathimerini reports, the actions are being taken in order to shield themselves and minimize the danger of contagion in case the negotiations between the Greek government and the eurozone do not bear fruit. This has sparked broad-based selling across global risk assets but particularly in Europe. Stocks from Germany to Spain are having their worst day of the year, European sovereign bond risk is exploding higher (contagion Mr. Schaeuble?), and Greek bank bonds and stocks are getting crushed.

 
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"We Have Come To The End Of The Road" - Greece Prepares For Default, FT Reports





Update: as always is the case in Europe, nothing is confirmed until it is officially denied by officials, so here you go: GREEK GOVT OFFICIAL DENIES FT REPORT GREECE PLANNING DEFAULT

It should hardly come as a surprise that after the latest round of Greek pre-negotiation negotiations with the Troika, in which the Greek representative was said to behave like a taxi driver, who "just asked where the money was and insisted his country would soon be bankrupt" and in which the Eurozone members "were disappointed and shocked at Athens' lack of movement in its plans, and in particular its reluctance to talk about cutting civil servants' pensions" that the next Greek step is to fall back - yet again - to square zero: threats of an imminent default. Which is precisely what, according to the FT, has happened "Greece is preparing to take the dramatic step of declaring a debt default unless it can reach a deal with its international creditors by the end of April."

 
GoldCore's picture

Bank Deposits No Longer Guaranteed By Austrian Government





Emergency legislation can be drawn up over-night. While Austria may be the first in enacting bail-in legislation there is no guarantee that savers, particularly in the peripheral nations, will receive any indication that their deposits may be at risk.

 
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Germany Has Had Enough With US Neocons: Berlin "Stunned" At US Desire For War In Ukraine





While Russia's envoy to NATO notes that statements by the deputy head of NATO testify to the fact that the leaders of the bloc want to intervene in Russia’s internal politics, and are "dreaming of Russian Maidan," Washington has a bigger problem... Germany. As Der Spiegel reports, while US President Obama 'supports' Chancellor Merkel's efforts at finding a diplomatic solution to the Ukraine crisis, hawks in Washington seem determined to torpedo Berlin's approach. And NATO's top commander in Europe hasn't been helping either with sources in the Chancellery have referred to Breedlove's comments as "dangerous propaganda."

 
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Bill Clinton Laid the Foundation for the Libyan, Syrian and Ukrainian Wars





Bill Clinton Dusted Off the Same Marketing Strategy Which Bad-Mustache Used On the Eve of Invading Poland ... And Obama's Been Using It Ever Since

 
Tyler Durden's picture

How Far Is It From Kiev To Athens?





We don't get it, and we definitely don’t get why nobody is asking any questions. The IMF and EU make a lot of noise – through the Eurogroup – about all the conditions Greece has to address to get even a mild extension of support, while the same IMF and EU keep on handing out cash to Ukraine without as much as a whisper – at least publicly...

 
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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 demarcation line). Today's triple whammy of 'escalation' appears more focused on the non-Russian side as first, France begins sending tanks into Poland; second, Ukraine shifts its tanks to the front-line; and third - and potentially most inflammatory for Putin - NATO has confirmed plans to create permanent command centers in Eastern Europe. Putin has not responded yet but reports of 'nuclear bombers' flying above the English Channel "with transponders turned off," suggests the sabre rattling continues.

 
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David Stockman: Woodrow Wilson's War & Why The Entire 20th Century Was A Mistake





"My humble thesis tonight is that the entire 20th Century was a giant mistake. And that you can put the blame for this monumental error squarely on Thomas Woodrow Wilson - a megalomaniacal madman who was the very worst President in American history... well, except for the last two."

 
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"It's Just A Tactical Withdrawal" - Ukraine Forces "Abandon" Contested Donetsk Airport





With NATO's top military commander, General Breedlove, proclaiming that fighting in Ukraine is worse than pre-truce levels (and noting he could not confirm Poroshenko's Russian force numbers accusations), the news overnight, as The Telegraph reports, that Ukrainian forces appeared to withdraw from Donetsk airport last night, ending an 8-month battle in a bitter blow for pro-Kiev forces and apparent triumph for the Russian-backed separatists they are fighting. While the Pro-Russian separatists' Pyrrhic victory over the completely destroyed (as we noted here) airport may be a blow, a Ukrainian military spokesman on Thursday played down the surrender of the terminal buildings, saying it was simply a tactical withdrawal. Additionally, Russia has denounced an attack on a bus in separatist-held Donetsk which killed civilians as a "monstrous crime."

 
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Russia Cuts Off Ukraine Gas Supply To 6 European Countries





Vladimir Putin ordered the Russian state energy giant Gazprom to cut supplies to and through Ukraine amid accusations, according to The Daily Mail, that its neighbor has been siphoning off and stealing Russian gas. Due to these "transit risks for European consumers in the territory of Ukraine," Gazprom cut gas exports to Europe by 60%, plunging the continent into an energy crisis "within hours." Perhaps explaining the explosion higher in NatGas prices (and oil) today, gas companies in Ukraine confirmed that Russia had cut off supply; and six countries reported a complete shut-off of Russian gas. The EU raged that the sudden cut-off to some of its member countries was "completely unacceptable," but Gazprom CEO Alexey Miller later added that Russia plans to shift all its natural gas flows crossing Ukraine to a route via Turkey; and Russian Energy Minister Alexander Novak stated unequivocally, "the decision has been made."

 
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Guest Post: 2015 - Grounds For Optimism?





Some are thinking that 2015 will be a repeat of 2014 with a few incremental changes, However, the interesting question to ask is, how has the ground shifted in 2014, if indeed it has? To our mind, the really interesting development of 2014 is that the world as a whole (with a few minor exceptions) has become quite lucid on the topic of what the United States, as a global empire, is and stands for. Another major shift we have observed is that a significant percentage of the thinking people in the US no longer trusts their national media. In case somebody out there in the media realm is tired of playing it safe and printing stuff that's only fit for wiping your Kardashian with, here are a some points for you to try to refute...

 
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Precious Metals Dealer To Pay Employees In Bitcoin Even As "Go-To" Bitcoin Exchange Is Massively Hacked





Earlier today, a small Denver-based precious metals dealer AmagiMetals announced something curious: it would paid its staff in Bitcoin. As it reported in its press release, "its entire staff will voluntarily accept a portion of individual employee paychecks in Bitcoin in 2015 through a new service called Bitwage. CEO of Amagi Metals Stephen Macaskill said the company is taking this action to advance its ability to function fully in Bitcoin going forward. Macaskill will accept $40,000 of his annual salary in bitcoin to demonstrate his support of Bitcoin." Whether it is a marketing gimmick, or the PM dealer is one of the few companies to put its (electronic) money where its ideological mouth is, and press for a world without dollar intermediation remains to be seen, however, for the sake of its employees we hope they did not put any part of their bonuses in the Bitstamp exchange which as we learned overnight, was the next big Bitcoin exchange to suffer a major hack following the now defunct Mt. Gox, and where a little over $5 million in bitcoins were stolen.

 
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