European Union

Frontrunning: November 18

  • Dollar heads for best fortnight vs. yen since 1988 (Reuters)
  • Jeff Sessions Said to Be Trump’s Pick for Attorney General (BBG)
  • Flynn set to be national security adviser (Reuters)
  • NATO Secretary General Expects to Speak With Trump ‘Very Soon’ (BBG)
  • Hensarling Could Be Wall Street’s Best Hope or Worst Nightmare (BBG)

Europe: Let's End Free Speech!

In Europe, is the enemy now the governments? Evidence is mounting that expressing even a mild opinion that runs counter to official government policy can land you in prison, or at least ensure a visit from your friendly local Kafkaesque police. Has Europe effectively become a police state?

French PM: "Europe Is In Danger Of Falling Apart"

"Europe is in danger of falling apart," French prime minister Manuel Valls said at an event organized by the Sueddeutsche Zeitung newspaper. "So Germany and France have a huge responsibility."

Trump's Election May Strain The Euro To The Breaking Point

Even if Mr. Trump’s administration does not buy wholesale into the neo-isolationist ideology he espoused during the election campaign, it won’t simply champion the cause of the globalists. As a result, the European integration project will be deprived of its most powerful intellectual and political advocate.

Frontrunning: November 16

  • U.S. stock futures slip as post-election rally slows (Reuters)
  • Pence Ousts Lobbyists From Transition Team (WSJ)
  • Infighting hits Trump’s foreign policy transition (FT)
  • Trump’s Win and Transition Turmoil Buy Time for FBI Chief Comey (BBG)
  • Elizabeth Warren Sends Donald Trump Letter Criticizing Transition Team’s Wall Street Ties (WSJ)
  • Saudi Arabia set to reveal depth of oil reserves (FT)

How Trump Will Impact The European Union

Unsurprisingly, in Brussels people are not thrilled with Donald Trump’s election as new American President. EU Commission President Jean-Claude Juncker reacted by saying “We will need to teach the president-elect what Europe is and how it works”, but it seems more likely it is Europe that must learn about a number of new political realities. Here’s an overview of what it all means for the EU27...

French Government Creates Illegal Database On Over 60 Million Citizens

By setting up a single database centralizing information on the entire French population behind their backs, France’s Socialist Party (PS) government is giving the state vast repressive powers. Coming amid the state of emergency, it constitutes a fundamental threat to democratic rights, in particular to opposition within the working class to austerity and war.

Frontrunning: November 15

  • Biggest Global Bond Rout Since 2003 Pauses (BBG)
  • Oil prices jump 3 percent on hopes of OPEC output cut (Reuters)
  • Italy polls get worse for Renzi as referendum nears (Reuters)
  • Trump will get wake-up call when he takes office, Obama says (Reuters)
  • With Priebus, Ryan’s Speakership Has Direct Channel to Trump (BBG)
  • Supreme Court now in Trump’s hands (The Hill)

Trump And International Security

Since Donald Trump's election, media-fuelled panic has engulfed Europe, including over defence and security. We are told that World War III is imminent, that Trump will jump into bed with Putin and pull the US out of NATO. In fact, it is the EU, not Donald Trump, that threatens to undermine NATO and the security of the West. In recent days, European Commission President Jean-Claude Juncker, his foreign policy chief, and the German Defence have suggested that Trump's election should give greater impetus to a European defence force.

Kremlin Gains Two More European Allies As Bulgaria, Moldova Elect Pro-Russian Presidents

The good news just keeps going Putin's way. Just days after Trump defeated the Kremlin's nemesis Hillary Clinton, on Sunday pro-Russian candidates won presidential elections in Moldova and Bulgaria on Sunday, giving Moscow new allies in its efforts to regain influence in parts of Eastern Europe it regards as its backyard. And while Russia is the clear winner, one loser to emerge bruised from the two votes is the European Union.

Markets In Turmoil: Global Bond Bloodbath, Currency Rout Accelerates As Stocks Erase Early Gains

Monday started off where Friday left off, with the dollar surge continuing, pushing the DXY above 100 for the first time since December, global bond yields soaring, emerging market currencies tumbling, and the Yuan slammed below 6.85 for the first time. However, where Monday is different is that while European stocks and US index futures started off far higher, E-minis have now faded the entire overnight rally and are now red for the session, on concerns that the spike in yields will cap any more stock upside.

Canadian Parliament Condemns Free Speech

In what parallel universe can the efforts of the OIC to stifle free speech possibly be considered advancement of freedom of speech and religion? Is any Canadian who now writes critically of Islam or disagrees with the petitioners that ISIS "does not reflect in any way the values or the teachings of the religion of Islam" now to be considered an "Islamophobe"?