We GET the Joke … It’s Just Not Very Funny
The intricate and convoluted connections between Germany and Russia exude a peculiar aroma.
The US Senate is more than happy to hand over a few billion and confirm sanctions:
- *SENATE PASSES UKRAINIAN AID BILL WITH RUSSIAN SANCTIONS
- *HOUSE PASSES VERSION OF UKRAINIAN AID, RUSSIAN SANCTIONS BILL
But, it seems the IMF's requirements for Ukraine's bailout are too much for the locals to bear:
- UKRAINE PARLIAMENT FAILS TO SUPPORT FIRST BID TO PASS ANTI-CRISIS LAW REQUIRED FOR IMF DEAL
Lawmakers will continue to work on the bill as it seems they approve the top-line budget but not the taxes required to get there... beggars can be choosers again maybe?
Making friends and mending fences and reinforcing his 'promise' noto to spy on friends and to have NATO's back... in Rome with Italy's newest Prime Minister Renzi...
- *RENZI SAYS OBAMA'S MESSAGE TO EUROPE SOUND, CLEAR
- *RENZI SAYS EU, U.S. SHARE VIEW ON UKRAINE
- *RENZI SAYS OBAMA'S CHALLENGE TO EU IS 'FASCINATING'
- BOE to Sign Agreement With China on Yuan Clearing Next Week (BBG)
- U.S. law firm plans to bring suit against Boeing, Malaysia Airlines (Reuters)
- Citigroup Fraud Stings Mexico Star as Medina-Mora Chased (BBG)
- Fraternity Chief Feared for Son as Hazings Spurred JPMorgan Snub (BBG)
- UBS suspends six more forex traders (FT)
- Goodbye CSCO Q1 EPS: China to strengthen Internet security after U.S. spying report (Reuters)
- Good luck: Spain Banks With $55 Billion of Property Seek Deals (BBG)
- Citic Pacific Said to Plan About $4 Billion Public Offering (BBG)
- Yahoo Japan to buy eAccess from SoftBank for $3.2 billion (Reuters)
- "Whatever it takes" to talk down the Euro: Euro, peripheral bond yields fall on ECB easing debate (Reuters)
International discord over Ukraine does not bode well for the settlement of differences over the IMF’s future. Though the G7 is excluding Russia from its number, in retaliation for its action in Crimea, this does not amount to isolating Russia. There has been no suggestion that Russia be excluded from the G20. The USA and its allies have suspected that several other G20 members would not stand for it. This suspicion was confirmed yesterday when the BRICS foreign ministers, assembled at the international conference in The Hague, issued a statement condemning ‘the escalation of hostile language, sanctions and counter-sanctions’. They affirmed that the custodianship of the G20 belongs to all member-states equally and no one member-state can unilaterally determine its nature and character. In short, their statement read like a manifesto for a pluralist world in which no one nation, bloc or set of values would predominate.
As Russia Controls 51 Ukraine Ships And Moves More Tanks To The Borders, Obama Denounces "Brute Force"Submitted by Tyler Durden on 03/26/2014 18:31 -0400
President Obama denounced Russia's "brute force" in Ukraine during a speech in Brussels today, but it seems from the images and clips below that Russia cares little for words and is more about strategic actions for now. Russia now, reportedly, controls 51 Ukraine Navy ships and while Merkel is talking tough, she is careful not to be too aggressive in her call for escalation. After some de-escalation after the referendum, NATO (and increasingly social media) confirm that things are re-escalating as Russia tanks were being moved en masse across the nation to various borders.
We assume this is not what President Obama meant when he said "costs"...
- *UKRAINE TO RAISE GAS PRICES FOR HOUSEHOLDS 50% FROM MAY 1
- *UKRAINE TO RAISE GAS PRICE FOR HEATING UTILITIES 40% FROM JULY
As we warned previously, "the honeymoon is over" and it seems, from today's address, President Obama is about to mandate who and where the free market for natgas delivers it supply.
- One-Ship Ukraine Navy Defies Russia to the End (WSJ)
- Crimea-Induced Trading Surge Stokes Moscow Exchange Rally (BBG)
- Moscow says Ukraine stops Russian crews disembarking in Kiev (Reuters)
- New images show more than 100 objects that could be plane debris (Reuters)
- Anger of Flight 370 Families Explodes in Beijing (BBG)
- Murdoch Promotes Son Lachlan in Succession Plan for Empire (BBG)
- Facebook to buy virtual reality goggles maker for $2 billion (Reuters)
- Syrian Regime Exploits Rebel Despair (WSJ)
- King Digital IPO price may not bode well for stock (Reuters)
- Rothschild in Twitter Spat as Bakries Cut Ties With Miner (BBG)
The Diplomat‘s Justin McDonnell spoke with Larisa Smirnova, an expert on Sino-Russian relations and professor at Xiamen University, about the crisis in Ukraine, Russian foreign policy, and more.
Speaking in Holland, after asking for the world's trust back after being caught red-handed lying about the NSA's spying, President Obama calmly explained to the open-mouthed press conference that he continues to be "more concerned about a nuclear weapon going off in Manhattan that Russia." Sleep well New York...
UK Prime Minister David Cameron stated that it is "absolutely clear" that the G-8 Summit scheduled for June in Sochi, Russia will not go ahead. But it is President Obama that appears to be pressing the hardest for major changes:
- *OBAMA SAID TO PRESS ALLIES TO SUSPEND RUSSIA FROM G8: WSJ
This comes at a time when Ukraine forces are being withdrawn from Crimea and deployed to North, South, and East borders of the region. Meanwhile, Ukraine is taking its soldiers pulled from Crimea and deploying them along all other borders.
If there was one thing that the market was demanding after last night's disappointing March HSBC manufacturing PMI, which has now fallen so low, local market participants are convinced a stimulus is imminent (despite China's own warnings not to expect this), and sent both the SHCOMP and the CNY surging, it would have been further weak data out of Europe, where the other possible, if not probable, "QE-stimulus" bank is located now that the Fed is in full taper mode. It didn't get precisely that however there was a step in the right direction when overnight the Euro area Composite Flash PMI eased marginally from 53.3 to 53.2 in March, largely as expected. The country breakdown showed a narrowing of the Germany/France Composite PMI gap owing to a notable (3.7pt) increase in the French PMI while the German PMI eased somewhat (1.4pt). On the basis of past correlations, a Euro area Composite PMI of 53.2 is consistent with GDP growth of around +0.4%qoq, slightly stronger than our Current Activity Indicator (+0.35%qoq).
Having complained for years of China's electronic espiohange, it is perhaps only fitting that, thanks to documents provided by Edward Snowden, the NY Times reports, the NSA pried its way into the servers in Huawei’s sealed headquarters in Shenzhen (Huawei connects a third of the world’s population). The NSA monitored communications of the company’s top executives in an operation called "ShotGiant" looking for links between Huawei and the People's liberation Army. Furthermore, the NSA documents confirm, “we want to make sure that we know how to exploit these products,” it added, to “gain access to networks of interest” around the world. We await the repurcussions...
Vice President Biden was in Warsaw last week to reassure our eastern NATO allies that they have the support of a “steadfast ally.” But if Russia moved against Poland or the Baltic States, would the United States really go to war? Or would we do nothing and effectively destroy the NATO alliance? President Obama has ruled out a “military excursion” in Ukraine. America is not obligated legally to take action against Russia for annexing Crimea. We would not go to war if Russia mounted a large-scale invasion of Ukraine to restore the ousted, pro-Moscow government of Viktor Yanukovych, currently under U.S. sanctions. And we would not even send troops if Ukraine was partitioned, or absorbed by Russia. Americans have no interest in such a conflict, and no stomach for it.