European Union

Tyler Durden's picture

Eurasian Pivot? Moscow Expects "Progress" From Tsipras Visit





Despite what is unquestionably a rather dire outlook, Athens does have one card it has yet to play because as we noted last week, “once the first week of April comes and goes and Greece officially runs out of money, it will go to anyone who can provide it with the funds needed to avoid civil war, even if that means switching its allegiance from Europe to the Eurasian Economic Union, something Russia is eagerly looking forward to.

 
Tyler Durden's picture

The American Dream Part 2 - We Now Live In A "Pimpocracy"





Americans still say they believe in free markets, democracy and financial rectitude. But only as platitudes and hypocrisies... the free market was one of the first casualties of the post-1971 fiat money period. In a free market, people earn money by working (income) or by saving and investing it (capital growth). But credit-based money needed neither work nor saving; you just had to know the right people.

 
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Greek Energy Minister Slams "Unscrupulous, Imperialist" Germany, Will Seek "Bold Alternatives" In Russia





The Greek energy minister kicked the hornet's nest point blank earlier today when he said that "Greece is at more than breaking point; urgently needs big, bold alternatives to “German, incumbent Europe"and that "creditors behaving as unscrupulous imperialists towards distant colony, threatening submission or economic suffocation."  More importantly, Lafazanis has some ideas where to find said "big, bold alternatives." In Moscow. Greece's Energy Minister Panagiotis Lafazanis will meet his Russian counterpart and the CEO of energy giant Gazprom in Moscow on Monday, as he hit out at the EU and Germany for tightening a 'noose' around the Greek economy.

 

 
Tyler Durden's picture

Frontrunning: March 26





  • Saudi Arabia, allies launch air strikes in Yemen against Houthi fighters (Reuters)
  • Pilot on Crashed Jet Was Locked Out of Cockpit, NY Times Says (BBG)
  • Why Bombing This Tiny Oil Producer Is Roiling the Energy Market (BBG)
  • U.S.-led coalition, Iraqis pound Islamic State in Tikrit (Reuters)
  • Munger Says Prepare for Harder World as Buying Power Slides (BBG),Mocks Greek ‘Idiotic Idea’ You Can Vote Yourself Rich (BBG)
  • The Central Banker Who Saved the Russian Economy From the Abyss (BBG)
  • Bank of Canada says foreign buyers complicate housing market (Reuters)
  • Investors Scoop Up Companies’ Bonds (WSJ)
  • Espirito Santo Probe Turns Mariana Mortagua Into Portuguese Star (BBG)
 
Tyler Durden's picture

Frontrunning: March 25





  • ECB Tells Greek Banks Not to Boost Exposure to Athens Government’s Debt (WSJ)
  • Search teams probe wreckage of jet in French Alps (Reuters)
  • Flight Recorders Offer Best Hope of Explaining Jet’s Fatal Drop (BBG)
  • Yemen Houthi militia sweeps toward Aden in threat to president (Reuters)
  • In Nigeria, Oil Price’s Slide Deters Theft (WSJ)
  • Saudi Arabia building up military near Yemen border (Reuters)
  • Quant Who Shook the Financial World Tries More Humble Approach (BBG)
  • Executive Pensions Are Swelling at Top Companies (WSJ)
 
GoldCore's picture

EU and Greece Running Out of Time – As Bank Runs Intensify, Bail-Ins Likely





Greece – faced with illiquidity, insolvency and a potential banking collapse – is running out of time and appears to be on the back foot as its international creditors refuse to countenance any debt restructuring, rescheduling or forgiveness.

 
Tyler Durden's picture

Frontrunning: March 23





  • Saudis keep on pumping, oil prices keep on slumping (Reuters)
  • Tenet Healthcare Nearing Deal to Buy United Surgical Partners (WSJ)
  • Dizzying Pre-IPO Tech Values Spurred by Rush of Hedge-Fund Money (BBG)
  • Russia threatens to aim nuclear missiles at Denmark ships if it joins NATO shield (Reuters)
  • Torrent of Cash Exits Eurozone (WSJ)
  • Draghi Cheerleads for Euro-Area Economy as Greek Risk Looms (BBG)
  • Fortescue Mines for More Financing Options (WSJ)
  • Topix Charts Evoke Calm Before ’13 Rout as Momentum Gains (BBG)
 
Tyler Durden's picture

Looks Like Germany May Have To Pay Up





It appears clear that the war reparations 'issue' will not go away anymore. Either Berlin pays what legal experts determine should be paid, or it risks becoming a pariah in its own neighborhood. That the Germans in the 1950s and 1960s, at home and in schools, chose not to tell their children anything about their crimes cannot serve as an excuse to silence the children of its victims. It seems the only way to save the European Union, that Germany has made its economy so dependent on, is for Germany to pay up.

 
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Clinton Foundation’s Deep Financial Ties to Ukrainian Oligarch Revealed





When I first came across the title to this article, I didn’t think much of it. In fact, I almost didn’t even click the link thinking it was just a repeat of a prior expose I highlighted in the post: Hillary Clinton Exposed Part 2 – Clinton Foundation Took Millions From Countries That Also Fund ISIS. Fortunately, I did decide to take a look and pretty soon my jaw absolutely hit the floor. Although the Wall Street Journal didn’t play up the connection, I was stunned to see that of all the oligarchs connected to foreign governments who donated to the Clinton Foundation while she was Secretary of State, Ukraine was at the very top.

 

 
Tyler Durden's picture

No Longer Quiet On The Eastern Front (Part 2)





In the first part of this series we discussed Greece and its ongoing negotiations with the European Union – particularly with Germany – and how the complicated history between these two countries makes it exceedingly difficult for the Greek people to accept the terms on offer from the EU. This time we will turn our attention north, to a different kind of conflict.  This one has also wrought economic devastation to a European country, but of a much higher intensity.  It is the first civil war that the European continent has seen since the Balkan Wars of the 1990s, when the regional superpower of Yugoslavia was ultimately broken up amidst a series of separatist and independence movements.  Today’s conflict will almost certainly result in a similar outcome for its host country. I’m talking, of course, about Ukraine.  Let’s take a closer look.

 
Tyler Durden's picture

There’s Brussels And Then There’s Real People





There’s only one thing that can save the Union now: for Merkel to show compassion, with the Greeks, and with all other weaker members. And to stop the anti-Greek propaganda, immediately. Or else. It’s nonsense to pretend that this is merely a business issue, as is made clear by Parenteau above: there is very clearly plenty space to negotiate solutions with Greece that preserve everyone’s dignity. Refuse that, and you can kiss the EU goodbye. There’s alot more that plays into this than mere money issues. Ignore that, and you might as well dismantle the Union right now.

 
Tyler Durden's picture

US Taxpayers To Fund Ukraine Bailout With Bond Guarantee





CCC-rated Ukraine is preparing to issue more debt, debt with a Aa+/AAA rating because it will come with the explicit guarantee of the United States of America. In other words, after raiding Greek pensions with the IMF's blessing, the Kiev puppet government is now going after the "full faith and credit" of the US... backed by its taxpayers.  In yet other words, the latest Ukraine "bailout" is courtesy of you, dear US taxpaying reader.

 
Tyler Durden's picture

Varoufakis Explains How The Video Of His Middle Finger Is "Turning Proud Nations Against Each Other"





Varoufakis' middle finger was useful in one specific way: to rip away the facade of solidarity and freidnship in Europe, and reveal just how ugly the undelrying truth is, and to hint just how much uglier it will become once the money runs out not only for Greece, but for everyone else, or as Varoufakis himself who in a blog post today summarized his "middle finger" best when he said that it "has sparked off a kerfuffle reflecting the manner in which the 2008 banking crisis began to undermine Europe’s badly designed monetary union, turning proud nations against each other."

 
Tyler Durden's picture

German DAX Surges Over 12,000 On Greek Optimism, But The Money Has Run Out





Moments ago, the German DAX roared gingerly back over 12,000 dragging US equity futures alongside it, with the catalyst cited as the somewhat optimistic tone following the three hours of talks held late last night to try to break an impasse that risks sending Athens stumbling of the euro zone. As a result, a smiling if only through his teeth, Tsipras said Greece was "moving swiftly to meet creditors' demands for a detailed economic reform plan" and assured euro zone leaders his leftist-led coalition would speed up work to avert bankruptcy. Alas, even a best case scenario which sees some €1.9 billion in payment unlcoked, will not be enough: as Bloomberg calculated, "The country’s cash shortfall is projected to hit 3.5 billion euros ($3.7 billion) in March, according to Bloomberg calculations based on 2015 budget figures."

 
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