"The refugee crisis is undermining the EU’s fundamental principle of free cross-border movement within the Union… This is effectively throwing the EU’s very future in question. This may signal the beginning of the end, the stakes are extremely high."
Europe's refugee crisis is getting worse by the day. Less than 24 hours after Germany announced it would impose border controls with Austria, followed promptly by the Czech Republic, Slovenia and now the Netherlands, German vice chancellor Sigmar Gabriel predicted that as many as 1 million refugees may arrive by the end of the year as other nations moved to fortify their frontiers. In the meantime, however, Europe is dramatically escalating measures to halt the influx and as AFP reported earlier today, the European Union has now approved military action against human traffickers in the Mediterranean Sea.
Just as Europe is shutting its doors to Syrian refugees, the US is opening its own. The following map and list reveals the 180 refugee processing centers that will host some 10,000 Syrian refugees in the coming year.
Germans, Czechs Return To "Border Controls" With Austria, Riot Police Dispatched To Contain Refugee CrisisSubmitted by Tyler Durden on 09/13/2015 16:17 -0400
None other than Europe's master state, Germany itself, is about to launch an ICBM at Schengen when, as BBC reports, "Germany is to reintroduce some form of controls on its border with Austria to cope with the influx of migrants, German and Austrian media report." While the BBC said that it is not clear what measures would be introduced, it is likely that a full return to the pre-Schengen era, with extensive customs checks of every border crosser is imminent. Not only that but Express reported that the "German Defence Minister has admitted that the country verges on "an emergency" after cracks have begun to emerge in the 'German generosity' and that some 4000 German troops have been put on standby.
This level of global inter-connected financial risk is hazardous in Mexico, where it’s peppered by high bank concentration risk. No one wants another major financial crisis. Yet, that’s where we are headed absent major reconstructions of the banking framework and the central bank policies that exude extreme power over global economies and markets, in the US, Mexico, and throughout the world. Mexico’s problems could again ripple through Latin America where eroding confidence, volatility, and US dollar strength are already hurting economies and markets. The difference is that now, in contrast to the 1980s and 1990s debt crises, loan and bond amounts have not just been extended by private banks, but subsidized by the Fed and the ECB. The risk platform is elevated. The fall, for both Mexico and its trading partners like the US, likely much harder.
"The fence, in part being built by prisoners along the 175-km (109-mile) border, would be completed sooner than planned, by the beginning rather than the end of October. 'This 3.5-4-metre tall fence can be adequate to protect the country, especially if policemen are patrolling on the other side,"' Minister Viktor Orban's chief of staff Janos Lazar told a weekly news conference."
Following Hungarian cameramen kicking 10-year-old girl refugees, and Czech police hauling immigrants of trains and writing numbers on their arms, it appears the horrors of the past are quickly forgotten when it comes to 'solutions' for the present. As The Jerusalem Post reports, the leader of the Czech 'nationalist' National Democracy Party, has called for refugees to be placed in Terezin - a former Nazi concentration camp - "Why build tent camps for the aliens? We have the beautiful fortress town of Terezin where the aliens could concentrate before they are taken home by trains." Police are investigating whether his comments constitute a criminal act and Czech Jewish leaders have refused to comment on the incident.
For most of us, the image of a serial number on a forearm conjures up indelible images of 1940s Germany, but it seems this is not the case for the Czech police, who adopted the controversial practice earlier this week.
It rose out of the tropical Pacific in late 1997, bearing more energy than a million Hiroshima bombs.
The idea of a change towards a domestic consumption-driven economy is being revealed as a woeful disaster. You can’t magically turn into a consumer-based economy by blowing bubbles first in property and then in stocks, and hope people’s profits in both will make them spend. Because the whole endeavor was based from the get-go on huge increases in debt, the just as predictable outcome is, and will be even much more, that people count their losses and spend much less in the local economy. While those with remaining spending power purchase property in the US, Britain, Australia. And go live there too, where they feel safe(r). I fear for the Chinese citizen. Not so much for Xi and Li. They will get what they deserve.
Since the 2011 Fukushima nuclear disaster, Germany has been one of the few countries that have successfully moved away from nuclear energy. In fact, the contribution of nuclear power in Germany’s electricity generation has now fallen to just 16% and renewables are now the preferred source of electricity generation in the country. However, Germany and its neighbors are now facing an unusual problem. With the dramatic increase in green energy usage, Germany is generating so much electricity from renewables that it is finding it hard to handle it.
The quest for perfection is man’s unattainable goal. Man can never be perfect if we are to believe the English philosopher Thomas Hobbes. Man is man’s wolf and all of that.
A third Greek bailout involving loans from the European Stability Mechanism (ESM), the eurozone’s bailout scheme, is now being negotiated. The start was quite rocky, with haggling over the precise location in Athens where negotiations need to take place and Greek officials once again withholding information to creditors. Therefore, few still believe that it will be possible to conclude a deal in time for Greece to repay 3.2 billion euro to the ECB on 20 August. Several national Parliaments in the Eurozone would need to approve a final deal, which would necessitate calling their members back from recess around two weeks before the 20th, so it’s weird that French EU Commissioner Pierre Moscovici still seems so confident that the deadline can be met.
The German Council of Economic Experts is out with a new report on euro area crisis management which backs state bankruptcies and euro exits for governments deemed "uncooperative." "A permanently uncooperative member state should not be able to threaten the existence of the euro. In view of this, the Council of Economic Experts recommends that the withdrawal of a member state from the currency union must be possible as an utterly last resort," the council says.