Is Greece truly on the verge of capital controls, especially the kind that has the blessing of the very man who created the Cyprus "blueprint"? For the answer we go to ISI, which discussed just that in a flash note issued earlier today:
The increasing ugliness of the ‘negotiations’ between the Greek Syriza government and the rest of the eurozone, which is ruled by the German government, needs to be halted and put in reverse. There is an urgent need for a detente, for cooler heads and for trust. And there is only one person who can act to create these things: Angela Merkel. But Merkel is nowhere to be found or seen. Merkel has been sorely lacking and missing, and if she doesn’t get her act together very quickly, she will be known as the person who let Europe slip into war, for no good reason whatsoever.
Greece will need to find €2 billion by Friday in order to repay creditors as Schaeuble, others see no way out. With no contingency plan, Athens' day of reckoning may be at hand. Morgan Stanley is out today with a note diagramming what happens next.
Here We Go Again: YouTube Clips Of Syrian "Chemical Attacks" Are Back - Meet The Man Behind The PropagandaSubmitted by Tyler Durden on 03/17/2015 09:19 -0400
US foreign policy is becoming so easy and predictable, even Derek Zoolander can do it.
Two weeks ago, when discussing the relentless attempts to provoke, or at least greenlight another quasi war with Syria's president Assad, we wrote "one can be confident that the ISIS "campaign" will continue and get ever closer to Damascus until yet another appropriately-framed YouTube clip appears and leads to another war with Assad." Moments ago Reuters reported that "a group monitoring the Syrian civil war said on Tuesday government forces carried out a poison gas attack that killed six people in the northwest, and medics posted videos of children suffering what they said was suffocation."
Happy Saint Patricks Day ! Thanks to all ZeroHedge readers for interaction, shares and indeed business.
I am not sure how long Mario Draghi can carry on this QE Charade, but it is quite obvious that there is nothing more to be gained from the program.
As Greeks solemnly remembered the horrific acts of 72 years ago (when the first of 19 trains transported nearly 50,000 local jews to Nazi death camps), the Greek President Pavlopoulos made statements today that he "remains adamant" that "Greece's demands for German war reparations and the occupation loan are active and can be claimed legally." German Finance Minister Wolfgang Schaeuble has once again ruled out the possibility of a retreat from what Berlin has already officially said on the matter - that the issue has been settled decades ago. But, today the Greek Defense Minister issued a statement confirming that archives that they possess from Nazi armed forces support the country's claims for reparations.
- Again as first reported here: Record U.S. Oil Glut May Fill Storage, Cut Prices (BBG)
- IEA sees renewed pressure on oil prices as glut worsens (Reuters)
- No EU unanimity on renewing Russia economic sanctions (Reuters)
- Tsipras says Greece doing its part in euro zone deal (Reuters)
- ECB Set to Buy Fewer Bonds as Price Gains Ease Crunch (BBG)
- These Americans Are Getting Rich Trading Derivatives Banned in the U.S. (BBG)
- U.S. 2015 profits forecast to grow 1.7 percent; oil, dollar are concerns (Reuters) - in a month this will say "decline"
- Manhunt for shooting suspects grinds on in Ferguson, Missouri (Reuters)
When things are this obviously crazy, anything is possible.
Having thought long and hard (since 2009) about the benefits of becoming a member of the European Union, Iceland has decided to withdraw its application...
*ICELAND SAYS WON'T RESTART ACCESSION TALKS WITH EU
The 2013-elected (euroskeptic) coalition government had scrapped talks, so this is not entirely surprising, as it sought more trade accords.
Yellen has created a narrative about the US economy, especially the (un)employment rate, and with the narrative is now firmly in place, Yellen and her stooges can claim they have no choice but to hike In short, Janet Yellen will go down into history as the person responsible for what may be the biggest economic crash ever, or at least delivering the final punch of the way into it, a crash that will make the rich banks even much richer. And there is not one iota of coincidence in there. Yellen works for those banks. The Fed only ever held investors’ hands because that worked out well for Wall Street. And now that’s over. Y’all are on the same side of the same trade, and there’s no profit for Wall Street that way.
"We ourselves in the European Union provoked the conflict through our territorial expansionism in the Ukraine. We poked the Russian bear with a stick, and unsurprisingly, Putin reacted. But this now is to be used as an opportunity to build a European army... And Mr. Juncker said, we must convey to Russia that we are serious. Who do you think you are kidding, Mr. Juncker?"
The computerisation of European jobs - who will win and who will lose from the impact of new technology onto old areas of employment?
Earlier today, Greek Prime Minister Tsipras was busy not making German friends, following the latest Greek overture to confiscate German assets in response for allegedly unpaid German WWII reparations. “After the reunification of Germany in 1990, the legal and political conditions were created for this issue to be solved. But since then, German governments chose silence, legal tricks and delay. And I wonder, because there is a lot of talk at the European level these days about moral issues: is this stance moral?” Tsipras said and added that "despite the crimes of the Third Reich and Hitler’s hordes, the German debt was written off." As a result Greece is now seeking to recoup German WWII reparations which may amount to as much as 80% of Greek GDP!
Russians view the United States much more unfavorably today than they did during the end of the Cold War era. As you will read about below, an astounding 81 percent of all Russians now view the United States negatively, and only 13 percent have a positive opinion of this country. In all of the years when Russians have been surveyed on their attitudes toward the U.S., they have never been this negative. But of course Americans generally do not view the Russian people unfavorably. Even while most Americans are extremely apathetic about what is going on over in Russia, an increasingly large chunk of the Russian population is angry enough to go to war.