European Union

US Ally Turkey Throws Journalists In Jail For "Attempting To Overthrow The Government"

Following farcical elections which saw President Tayyip Erdogan get the outcome he needed in order to press forward with a move to rewrite the constitution on the way to consolidating his power, Ankara's crackdown on the press continues as the government is now jailing opposition reporters and accusing them of attempting to orchestrate a "coup."

Europe Will Never Be The Same; Neither Will The World

People are genetically biased against change, because change means potential danger. People are also genetically biased against acknowledging this bias, because they wish to see themselves as being able to cope with both change and danger. Put together, this means that when changes come, people are largely unprepared or underprepared. This little bit of psychology 101 may seem redundant, but it is indispensable if we wish it to recognize the implications of Europe -and the entire world with it, in its slipstream- having already entered a period of change so profound it is impossible to predict what the impact will be. This ignorance and denial threatens to lead to a needless increase in nationalism, fascism, violence, misery, death and warfare. If we were to acknowledge that the change is inevitable, and prepare ourselves accordingly, much of this could be avoided.

Frontrunning: October 30

  • World stocks on course for best month in four years (Reuters)
  • Global Stocks Up Amid Stimulus Hopes (WSJ)
  • BOJ Refrains From Adding Stimulus Even as Inflation, Growth Wane (BBG)
  • U.S. Avoids Debt Default as Congress Passes Fiscal Plan (BBG)
  • China naval chief says minor incident could spark war in South China Sea (Reuters)
  • Exclusive Club: No High-Frequency Traders Allowed at Luminex (WSJ)

Europe's Next Refugee Crisis: Thousands Of Migrants Freezing To Death

With winter rapidly approaching, Europe has yet to develop a viable plan to provide shelter for the hundreds of thousands of refugees fleeing the war-torn Mid-East. If the bloc doesn't act soon, tens of thousands of families could end up freezing to death on the way to Germany. 

Frontrunning: October 28

  • Global shares rise as Riksbank helps ease Fed wait (Reuters)
  • Asian Stocks Retreat Before Fed as Material Shares Lead Losses (BBG)
  • For Fed, a Rates Puzzle Looms (WSJ)
  • What the Superforecasters Say About When the Fed Will Lift Rates (BBG)
  • U.S. Looks at Proposals to Step Up Fight Against Islamic State (WSJ)
  • China Steel Head Says Demand Slumping at Unprecedented Speed (BBG)
  • VW slumps to first quarterly loss in at least 15 years (Reuters)

Europe's On A Road To A Very Bleak Nowhere

It will become clearer, fast, what an awful mess Brussels and Berlin have created here, because with winter approaching more refugees will fall victim to the conditions under which they’re forced to live once they’ve entered Europe. Which, in their own eyes, will still be preferable to the conditions in their homelands. And then what will we do, when dozens start dying from cold and diseases? Send in more police and military? This is a road to a very bleak nowhere.

Why The Fate Of Syria's Christians Should Concern Us All

The world is witnessing the destruction of Syria, a country with a rich history going back millennia. But there is one significant minority that faces total annihilation if the radical factions prevail: Syria’s Christian community.

Barcelona Threatens To Print Parallel Currency, Madrid Seethes

Over the next six months, Barcelona’s left-wing city council plans to roll out a cash-less local currency that has the potential to become the largest of its kind in the world. While the socialist mayor's official reasoning is 'to boost economic opportunities for local businesses', perhaps there are somewhat less altruistic motives behind the move, such as encouraging people to embrace cashless currencies. It appears the war on cash has moved from one of words to actions (as it is likely no coincidence that most of the local community currencies that have been launched so far are in purely digital format, as would Barcelona’s.)

Frontrunning: October 26

  • European shares slip as easing expectations fade (Reuters)
  • Valeant and Pharmacy More Intertwined Than Thought (WSJ)
  • The Pawn Isolated: Valeant, Philidor and the Annals of Fraud (WSJ)
  • Strongest Afghan Quake Since 1949 Triggers Search for Survivors (BBG)
  • EU Agrees To Tighten Border Controls And Slow Migrant Arrival (AP)
  • Volkswagen Suspends More Employees (WSJ)
  • Volkswagen Loses Global Sales Lead to Toyota Amid Diesel Scandal (BBG)

"If We Don't Find A Solution Today, It's The End Of The European Union" - Refugee Crisis Hits Tipping Point

"If European leaders fail to agree a plan to counter the sudden inflows of refugees, it could mean the end of the European Union. If we don't find a solution today, if we don't do everything we can today, then it is the end of the European Union as such," Prime Minister Miro Cerar said. "If we don't deliver concrete action, I believe Europe will start falling apart."