What’s left for Greece in Brussels that is beneficial to the country? We don’t see it. It makes us think more of a Stockholm syndrome by the hour. Get out, get your own currency, negotiate a treaty with Italy and Spain, maybe France. But don’t stay in a ‘union’ with outsiders who think they can tell you, Greeks, how to run a democracy, or when to hold a referendum. That can only be a road to nowhere.
Germany throws its support behind a Greek referendum on euro membership while Putin invites Athens to join BRICS Bank. Meanwhile, Yanis Varoufakis has a plan for resolving Greece's debt problem — and he imagines the ECB chief is terrified of it.
In its efforts to 'protect' its citizens from terrorists, France deemed it necessary in March to "fight against the use of cash and anonymity in the French economy," and drastically reduced the public's freedom and privacy to spend. Today, that freedom and privacy took another blow as the French government passed "Le Patriot Act" dramatically beefing up the government's spying powers.
Europe is going to begin both capital and border controls.
If you said these are all things that current or former IMF heads are or have been accused of, you are 100% correct.
EU leaders were proposing capital controls, border controls, and even limiting the amount of money that could be removed from ATMs throughout Europe back in 2012. They'll do it again.
We have put the sociopaths in charge, in an international and largely anonymous dictatorship. Who really pulls the levers in the IMF, or NATO etc? We have no way of knowing. And that’s the problem. And that is what Syriza, and precious few besides them, are set to fight. And why they deserve – and need – our support. Because if they don’t win, we don’t.
Europe Fractures: France Pivots To Putin, Cyprus Offers Moscow Military Base, Germany-US Splinter On UkraineSubmitted by Tyler Durden on 02/08/2015 22:30 -0400
Following yesterday's summary of the utter farce that the Minsk Summit/Ukraine "peace" deal talks have become, the various parties involved appear to be fracturing even faster today. The headlines are coming thick and fast but most prescient appears to be: Despite John Kerry's denial of any split between Germany and US over arms deliveries to Ukraine, German Foreign Minister Steinmeier slammed Washington's strategy for being "not just risky but counterproductive." But perhaps most significantly is France's continued apparent pivot towards Russia.
Everyone loves a good conspiracy theory debate. Regardless of whether you argue for it, or against, there are times when suddenly the ramifications for plausible truth are realized that overshadow the conspiracy. This is where the plot of truth can get far more sinister than the imagined conspiracy ever could.
The situation in France is going from bad to worse. First there is the two Paris terror-attack suspects hostage crisis in an industrial estate north of Paris. Secondly, an apparently linked (according to police) hostage crisis is also under way in an East Paris kosher grocery, where a suspect in the Thursday fatal shooting of a police officer in Paris' Monrouge area, identified as Amedi Coulibaly, 32, has now issued a warning that he will kill hostages if police storm the terror-attack brothers. What is even more curious is that Coulibaly met with French President Sarkozy in 2009, hoping to find a job.
First Germany, then the Netherlands, perhaps Switzerland this weekend, and now the French right-wing Front National, which shockingly came first in May's European parliament elections, and whose leader Marine Le Pen is currently polling in first place in a hypothetical presidential election (in both a first and run off round), ahead of president Hollande, has sent a letter to the governor of the French Central Bank, the Banque de France, demanding that France join the list of nations which have repatriated, or at least tried to, their gold.
- Clearly it's time to bomb Assad (on Qatar instructions): Islamic State executes dozens of Syrian army soldiers (Reuters)
- Ukraine Declares Russian Invasion as Sanctions Threat Raised (BBG)
- Ukraine Reports Russian Invasion on a New Front (NYT)
- German Unemployment Rises as Risks to Economy Build (BBG)
- Ebola spreads to Nigeria oil hub Port Harcourt (BBC)
- FBI Probes Possible Hacking Incident at J.P. Morgan (WSJ)
- FBI, Secret Service investigate reports of cyber attacks on U.S. banks (Reuters)
- If you like your Venezuela, you can stay in Venezuela: Airlines Abandon Fliers Amid Currency Dispute (WSJ)
- Boomer Wealth Dented by Mortgages Poses U.S. Risk (BBG)
- People Aren't Buying Guns (BusinessWeek)
Earlier this morning, those expecting an out of control European deflationary tumble got one step closer to their goal when French President Francois Hollande asked his prime minister, who only assumed the post a few short months ago in March, to form a new government, following what Reuters reported was him "looking to impose his will on the cabinet after rebel leftist ministers had called for an economic policy U-turn" spearheaded by economy minister Arnaud Montebourg demanding an end to French "austerity." The Guardian is somewhat more direct and to the point: "France has entered uncharted political waters after the prime minister, Manuel Valls, presented his government's resignation amid a political crisis triggered by his maverick economy minister who called for an end to austerity policies imposed by Germany."
France Responds To US BNP Fine, Will Train Hundreds Of Russian Seamen To Operate French-Made WarshipSubmitted by Tyler Durden on 06/04/2014 09:03 -0400
France has suddenly found itself battling two populist fronts: on one hand it had to continue its foreign policy track of siding with NATO and the US when it comes to Russian developments; on the other it had to responds to howls of protest from the population bashing the US for having the temerity to punish its flagship bank (recall "France Furious At US $10 Billion BNP "Masterful Slap", "Racketeering" Fine"). Today, it was revealed that in weighing the two evils, it picked what it thought was the lesser one, and as the WSJ reports "a group of 400 Russian sailors are scheduled to arrive on June 22 in the French Atlantic port of Saint-Nazaire to undergo months of instruction before some of them pilot the first of two Mistral-class carriers back to Russia in the fall, said one of these people."
When The Head Of The European Central Bank Lies To Zero Hedge On The Record: Presenting Europe's "Plan Z"Submitted by Tyler Durden on 05/15/2014 15:16 -0400
We are happy to report that Zero Hedge is the first media outlet that Mario Draghi has very publicly, officially, and on the record, lied to. Because as we learned overnight, Europe most certainly had a "plan in place so that the markets don't basically collapse." Only it wasn't as Margio Draghi called it, Plan B. It was a different letter of the alphabet. Thanks to the FT's Peter Spiegel we now know that just over a year ago, in order to preserve the myth that Europe's power echelons are so "confident" with the Eurozone staying together they did not even consider a break up as a potential outcome, Draghi explicitly and on the record lied.
Presenting Europe's Plan Z.