European Union

Meet The Eccentric, Euroskeptic, Czech Billionaire Who Will Become Prime Minister

The Czech election takes place today, with the “Czech Donald Trump”, Andrej Babis, expected to be voted in as Prime Minister. Babis - the "Czech Donald Trump" - is the country's second wealthiest person, and is demanding the return of greater sovereignty from the EU, rejects the Euro and is against Muslim immigration. He has pledged to run the country like a business, while eliminating corruption.

Can Trump Drive A Wedge Between Saudi-Russian Alliance?

Together, Russia and Saudi Arabia produce a fourth of the world’s oil. The laws of competitive international commodity trading have pit the two petrostates on opposite poles of the U.S.-Russia geopolitical rivalry. But a new era of American oil exports and ailing national budgets is pulling Moscow and Riyadh together in trying financial times.

Frontrunning: October 20

  • Trump’s Tax Plan Takes a Big Step Forward, But What Comes Next Won’t Be Easy (BBG)
  • Low pay, no bonus: U.S. retailers struggle with hiring (Reuters)
  • Donald Trump Jr. Becomes a Rainmaker on the Republican Speaking Circuit (BBG)
  • In Kuroda's face - researchers find ways to predict central bank changes (Reuters)
  • One Month After Maria, a Crisis Still Rages in Rural Puerto Rico (BBG)

Europe's Secession Problems Aren't Going Away

"Europe's democracy problem persists. Is democracy only allowed when it is no threat to the established status quo for nation-states? Should the central government send in the troops to beat citizens and seize ballots when people vote 'the wrong way'? "

Frontrunning: October 19

  • Rajoy Deploys Ultimate Weapon of Law on Catalonia (BBG)
  • Congress Rolls Toward Shutdown Fight Over Immigration, Obamacare (BBG)
  • Hong Kong Stocks Tumble Most This Year as Geely, Developers Sink (BBG)
  • Inside battle imperils $230 million cryptocurrency deal (Reuters)
  • From Damascus, Iran vows to confront Israel (Reuters)

Ray Dalio Is Shorting The Entire EU

"Dalio doesn’t call the bluff of Italy, and this is not just like George Soros’ shorting the British pound in 1992, he’s calling out the entire EU and its financial system. He’s saying I don’t believe you can keep up the charade. He’s making a mockery of Mario Draghi’s 'whatever it takes'..."

Catalan Leader Vows To Declare Independence If Spain Triggers "Nuclear Option"

The Catalan leader said today he would formally declare independence Thursday morning if Mariano Rajoy follows through with his threat to invoke the so-called "nuclear option" of Article 155 and suspend Catalonia’s regional autonomy - a decision that would likely lead to the arrest of Puigdemont and his government, followed by another violent crackdown on separatists.

Carney Reveals Europe's Potential Achilles Heel in Brexit Talks

Calling into question the continuity of tens of thousands of derivative contracts, Carney stated that it was “pretty clear they will no longer be valid”, that this “could only be solved by both sides” and has been “underappreciated” by Europe.

Washington: The Bleeder Of The 'Free World'?

"This is not the idealized conduct of the self-proclaimed 'leader of the free world'. America is increasingly seen as the 'bleeder' – a declining power which wants to suck the economic lifeblood from others in order to sustain itself. .."