The Islamic State’s horrific attacks in Paris provide a stark reminder that Western powers cannot contain – let alone insulate themselves from – the unintended consequences of their interventions in the Middle East. The unraveling of Syria, Iraq, and Libya, together with the civil war that is tearing Yemen apart, have created vast killing fields, generated waves of refugees, and spawned Islamist militants who will remain a threat to international security for years to come. And the West has had more than a little to do with it.
Mid-East Stocks, US Futures Slide As Goldman Warns Of Paris Attacks' Negative Implications For MarketsSubmitted by Tyler Durden on 11/15/2015 13:30 -0500
Following the weakness in the few minutes of after-hours trading on Friday's US session that overlapped with the first headlines from France, we are getting a first glimpse at the posible fallout from the Paris terror attacks. The Middle Eastern stock markets tumbled significantly with Saudi Arabia's Tadawul All Share index down 3% (biggest drop in 3 months) to its lowest since December 2012, and Dubai's FMG Index plunged 3.7% to its lowest since 2014. Short-run implication for the equity market is likely to be negative according to Goldman, with a notably higher risk premium regarding uncertainties about the medium-term political implications.
France's Far-Right Party Calls For Nation To "Re-Arm Itself", Revoke Muslims' Passports, "Eradicate" Radical IslamSubmitted by Tyler Durden on 11/14/2015 16:10 -0500
If there is one 'winner' from last night's terrible events in Paris, it is France's anti-EU, anti-immigration far-right wing Front Nationale party leader Marine Le Pen. Having already ascended to the lead in yet another poll ahead of France's 2017 elections, Le Pen came out swinging this morning call for France to "re-arm itself," stating that radical Islam must be "eradicated" from France. She further demanded that border controls be made "permanent" and binational Islamists must be depreived of their French passport.
From best bank to totally broke and freezing clients’ accounts in less than one year. Could this happen in the US?
"Schäuble is convinced that as things stand, he needs a Grexit to clear the air, one way or another. Suddenly, a permanently unsustainable Greek public debt, without which the risk of Grexit would fade, has acquired a new usefulness for Schauble. What do I mean by that? Based on months of negotiation, my conviction is that the German finance minister wants Greece to be pushed out of the single currency to put the fear of God into the French and have them accept his model of a disciplinarian eurozone."
Europe is imposing capital controls… next up will be border controls.
Forget Grexit, "Madame Frexit" Says France Is Next: French Presidential Frontrunner Wants Out Of "Failed" EuroSubmitted by Tyler Durden on 06/25/2015 09:16 -0500
There has been some confusion why Germany and the Eurozone are so strict in negotiating with France and unwilling to concede even to the smallest of what they deem as outlandish Greek demands. The reason is not so much whether Spain or even Italy, both countries with soaring unemployment, a lost generation and a sweeping movement against "austerity", follow with comparable demands should Europe concede to Tsipras, but France, where the frontrunner for the next president, the National Front's Marine Le Pen, has just warned that not only is a Grexit inevitable, but that France would follow shortly.
"Angry And Embarrassed" France Calls US Spying "Unacceptable", Demands US "Repair Damaged Relations"Submitted by Tyler Durden on 06/24/2015 10:07 -0500
Angry and embarrassed, France summoned the U.S. ambassador Wednesday to respond to the revelations by WikiLeaks that the U.S. National Security Agency eavesdropped on three successive French presidents and other top officials. Prime Minister Manuel Valls said the U.S. must do everything it can, and quickly, to "repair the damage" to U.S.-French relations from the revelations, which he called "a very serious violation of the spirit of trust" between the allies. "If the fact of the revelations today does not constitute a real surprise for anyone, that in no way lessens the emotion and the anger. They are legitimate. France will not tolerate any action threatening its security and fundamental interests."
"We've won a few months' respite but the problem will come back," France's Marine Le Pen said of Greece... "Today we're talking about Grexit, tomorrow it will be Brexit, and the day after tomorrow it will be Frexit." We shouldn’t need Le Pen to voice the obvious. But that no other ‘leader’, save for Nigel Farage, puts it into these crystal clear terms, does tell us a lot about all other European leaders. And unfortunately that includes Alexis Tsipras. Though we hold out some hope for him yet. Here’s hoping he will not sign that deal, whichever it may be in the end, and thereby set in motion the disintegration of the unholy Union.
The European "Template" For Dealing With Crises: Freezing Accounts, Bank Holidays, and Capital Controls…Submitted by Phoenix Capital Research on 06/07/2015 17:08 -0500
More and more analysts are beginning to take note of the “War on Cash.” However, they’re missing the fact that the actual template for what’s coming to the US first appeared in Europe back in 2012.
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.