Greek Energy Minister Slams "Unscrupulous, Imperialist" Germany, Will Seek "Bold Alternatives" In RussiaSubmitted by Tyler Durden on 03/28/2015 14:05 -0400
The Greek energy minister kicked the hornet's nest point blank earlier today when he said that "Greece is at more than breaking point; urgently needs big, bold alternatives to “German, incumbent Europe"and that "creditors behaving as unscrupulous imperialists towards distant colony, threatening submission or economic suffocation." More importantly, Lafazanis has some ideas where to find said "big, bold alternatives." In Moscow. Greece's Energy Minister Panagiotis Lafazanis will meet his Russian counterpart and the CEO of energy giant Gazprom in Moscow on Monday, as he hit out at the EU and Germany for tightening a 'noose' around the Greek economy.
"Serious Depressive Episode" May Have Driven Germanwings Pilot To "Criminal, Mad, Suicidal" Action, Prosecutors AllegeSubmitted by Tyler Durden on 03/27/2015 08:49 -0400
Andreas Lubitz, the 28-year-old co-pilot who murder-suicided a plane full of 150 people into the Alps, had been judged to have suffered a "serious depressive episode" around the time he suspended his training in 2009, according to internal documents cited by Germany's Bild. As Reuters reports, Lubitz had broken off his training in 2009 and reportedly spent a year in psychiatric treatment but as the Lufthansa CEO noted, "After he was cleared again, he resumed training. He passed all the subsequent tests and checks with flying colors. His flying abilities were flawless." French Prime Minister Manuel Valls urged patience during the investigation but stated, "everything points to a criminal, mad, suicidal action that we cannot comprehend."
After a few days of dollar weakness due to concerns that the Fed's rate hike intentions have been derailed following some undisputedly ugly economic data (perhaps the Fed should just make it clear there will never be rate hikes during the winter ever again) the USD has resumed its rise, and as a result risk assets, after surging early in the overnight session driven by the Nikkei225 and the Emini, the "strong dollar is bad for risk" trade has re-emerged, with the Nikkei dropping almost 500 points off its intraday highs, with US equity futures poised to open lower once more, sliding nearly 20 points in the overnight session, and surprising the BTFDers who have not seen five consecutive days of "risk-off" in a long time.
"The establishment of the Asian Infrastructure Investment Bank (AIIB) has been depicted by a few overseas media outlets as if China is building its own version of the Bretton Woods system. The Bretton Woods system is a product of the old days. The new global trends created the AIIB and there is no room to look back to the old days of one currency's hegemony," a state-controlled news outlet says, just as China pushes for yuan dominance in the AIIB.
- ECB Tells Greek Banks Not to Boost Exposure to Athens Government’s Debt (WSJ)
- Search teams probe wreckage of jet in French Alps (Reuters)
- Flight Recorders Offer Best Hope of Explaining Jet’s Fatal Drop (BBG)
- Yemen Houthi militia sweeps toward Aden in threat to president (Reuters)
- In Nigeria, Oil Price’s Slide Deters Theft (WSJ)
- Saudi Arabia building up military near Yemen border (Reuters)
- Quant Who Shook the Financial World Tries More Humble Approach (BBG)
- Executive Pensions Are Swelling at Top Companies (WSJ)
Angus Macleod made a valiant effort to counter Russian nuclear aggression but in the end couldn't quite land Moby Dick...
NATO is in the midst of conducting large scale military maneuvers along the Russian border in a move Russian Foreign Minister Sergey Lavrov says encourages “Kiev to pursue a military solution.” Over the course of 10 days, NATO will parade 120 combat vehicles across the region in an effort to prove how quickly the West can confront perceived Russian aggression.
For merchants in Italy, there's a tradeoff for putting up an awning that may end up casting a shadow on the sidewalk.
Quad-witching days are volatile on normal days, so in an environment of virtually zero liquidity, in which the market careens from one extreme to another simply based on whether the Fed utters one single word, in which volatility across asset classes is soaring, and in which it is all about igniting algo momentum, today's quadruple withicng should be memorable, which is good since there is virtually no macro data today to speak of.
Even as a Graccident becomes more likely by the day, there are still plenty of signs that EMU members are prepared to present a unified front in the face of uncertainty.
"See No Evil?" - Meet Jason Villalba: The Texas Rep. Who Wants To Criminalize Citizens Filming PoliceSubmitted by Tyler Durden on 03/16/2015 23:00 -0400
“Don’t mess with Texas.” Unless of course you are a thieving, violent cop; in which case Jason Villalba wants to make it open season on citizens by denying them their First Amendment rights.
"Ladies and gentlemen. A few weeks ago, in Riyadh, I was at a small, private function along with the British central bank governor, Mark Carney. Mr Carney asked me two questions. First, why did the oil price drop? And the second, where is the price heading? I will tell you today what I said to him then."
- Ibrahim Al-Muhanna, Advisor to the Minister of Petroleum and Mineral Resources for Saudi Arabia
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.
Why understanding of market cycles is crucial for investment success
"Gotland is a big worry for us. It could be overrun by Russia in minutes and then all of us would be highly vulnerable to an attack," warned one politician recently as it appears NATO fear-mongering and Russia sabre-rattling is having a significant effect on many of the Baltic Sea's border nations. As The FT reports, Sweden will put troops back on the strategic Baltic Sea island of Gotland after a decade-long absence and will also step up military exercises around the island involving the army, navy and air force. “Hunting submarines is a priority area," Sweden's defense minister explained, adding that "everything we do is a part of underlining Swedish sovereignty."