Greece

Euro Surges To 2-Year High In "Bipolar" Draghi Reaction; Futures Flat

"Draghi tried to talk the Euro down, even going so far as to suggest that ECB’s quantitative easing could be increased and prolonged," said Swissquote Bank's Yann Quelenn. "But the currency markets were not buying Draghi’s line, and neither are we. Available bonds are too scarce, and turn to a taper is too clear to disguise."

Dollar Tumbles, Euro Soars After Obamacare Repeal Dies; China Intervenes To Halt Rout

The Bloomberg Dollar Index tumbled to a fresh 10-month low after two more Republican defections on Monday night doomed the proposed GOP healthcare plan in the Senate. And while Treasuries rose on concerns about inflationary pressures and the viability of the Trump stimulus agenda, S&P futures rebounded gingerly from session lows, and were up 0.1%

NATO Member Turkey Turns To Russia For Air Defense Cooperation

Turkey’s gradual shift from the West to Eurasia and other partners is part of a broader process as the West gets weakened, divided and less attractive. The very notion of «Western unity» is fading away. Unsurprisingly, as its relations with the West sour, Turkey is reaching out to other poles of power. The S-400 deal conforms to the trend.

Adventures In 'Quantitative Tightening'-Lane

"Here, in the spirit of modest contemplation, we offer several hunches, inklings, conjectures, and guesses as to what quantitative tightening might mean. These are not predictions. They’re merely a starting point from which you can extend out your own visions into the future..."

Turkey "Turns Away" From NATO, Buys Russian Advanced Missile System For $2.5 Billion

In a move that has been defined as "signalling a turn away from the NATO military alliance that has anchored Turkey to the West for more than six decades" Turkey agreed to pay $2.5 billion to acquire Russia’s most advanced missile defense system. The proposed deal which was first reported here back in November 2016, has been finalized and the preliminary agreement sees Turkey receiving two S-400 missile batteries from Russia within the next year.

The European Union Has A Currency Problem

Donald Trump, for all his rhetorical clumsiness and intellectual limitations, still sometimes makes a valid point. He does when he says that Germany is “very bad on trade.” However much Berlin claims innocence and good intentions, the fact remains that the euro heavily stacks the deck in favor of German exporters and against others, in Europe and further afield.

Europe's Mass Migration: The Leaders Vs. The Public

"...I would like to remind [those in Europe who try to change the migration agenda we have adopted] to be serious about this and not to give in to these base reactions that I do not like..." - Jean-Claude Juncker

"Europe must make it more difficult for Africans to reach the continent via the current transit routes." - Bill Gates

The Unspeakable Crime Of Viktor Orban

"The unspeakable crime of V. Orbán is his insistence on acting in the interests of his citizens not to the self-declared arrogant unelected Commissars in Brussels...It‘s becoming crystal clear to more and more European citizens that the monster that is Brussels today does not represent the true interests of EU citizens..."