• GoldCore
    07/01/2015 - 10:07
    With all eyes on Greece it would seem another crisis relating to unpayable debt is brewing in the Caribbean. The governor of Puerto Rico, Alejandro García Padilla, has warned that the island is...

Turkey

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Frontrunning: April 10





  • Nikkei tops 20,000, Europe hits 15-year high (Reuters)
  • GE to sell real estate holdings, sets $50 billion share buyback (Reuters)
  • Iran’s Middle Class Plans for Life After a Deal (BBG)
  • Walgreens to Close 200 Stores as It Expands Cost Cuts (WSJ)
  • Hillary Clinton expected to announce presidential run as soon as this weekend (Reuters)
  • It will cost $1.5 billion to keep Deutsche Bank Libor Manipulators out of prison  (USA Today)
  • Police Cameras Bring Problems of Their Own (WSJ)
  • Obama says concerned China bullying others in South China Sea (Reuters)
  • Investors Revive Appetite for Asian Junk Bonds (WSJ)
 
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Putin And Tsipras Are Meeting: Here Are The Main Highlights





While Germany has pre-emptively, and somewhat defensively, come out proclaiming Russian aid to Greece as 'no big deal' - a "routine event" - we suspect the signal that it would send would not be entirely great for the EU (and Obama's) 'Russia is evil' meme. Nonetheless, as Greek Prime Minister Alexis Tsipras meets Russian President Vladimir Putin today - just one day before The IMF loan repoayment is due, topics for discussion vary from lifting sanctions (bilaterally) or bankrolling a bailout to gas discount from Gazprom. Here's a summary...

 
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The Greek Counter-Ultimatum To Europe: "We Cannot Keep ISIS Out If You Keep Bullying Us"





For a second time within a couple of weeks, Greek Defense Minister and leader of coalition government junior partner Independent Greeks, Panos Kammenos warned that if the European Union keeps undermining the coalition government and the country exit or is forced to exit the Euro “waves of migrants: will stream from Turkey to Europe and among them there would be ISIS “radicals.” Speaking to THE TIMES, Kammenos said: “The gross meddling into [Greek] domestic affairs isn’t just unheard for European standards, it’s unethical and it’s dangerous. If Greece goes, then a lot more than financial stability and the euro is at stake.” “If Greece is expelled or forced out of the eurozone, waves of immigrants without papers, including radical elements, will stream from Turkey and head towards the heart of the West."

 
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Turkey Bans Social Media Over Hostage Photos





Because nothing says "legitimate government" like curtailing freedom of speech...

 
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Pitchfork Populism & The Ghost Of 1937





With the Fed supposedly steeling itself at last to remove a little of its emergency ‘accommodation’, it has suddenly become fashionable to warn of the awful parallels with 1937 as an excuse The Fed must not act today. We strongly refute the analogy. Instead, the real Ghost of ’37 takes the form of mean-spirited and, counter-productive 'pitchfork populism' politics and the spectre should not be conjured up to excuse the central bank from further delaying its overdue embarkation on the long road back to normality and policy minimalism.

 
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Mapping Iran's Nuclear Program And Oil Facilities





When discussing the Iran "deal" which isn't a deal, but merely a " Joint Comprehensive Plan of Action", there are two key things one must keep in mind: the location of Iran's nuclear facilities and its oil infrastructure. Here is a quick take on both.

 
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Tsipras Heads To Moscow As IMF Withdraws Athens Staff; Greek Default Risk Hits Post-Crisis High





Amid growing pressure from their 'Troika colleagues' with Eurogroup Chair Dijsselbloem noting there is "still a long way to go" on Greek proposals and The IMF withdrawing its staff in Athens; new prime minister Alexis Tsipras heads to Russia to meet with Putin early next week. As Kremlin spokesman, Dmitry Peskov noted - somewhat intriguingly - "Greece has not asked [Russia] for financial aid... yet," as Tsipras is expected to seek agreement for a 'road map' of initiatives on the political and economic levels. Greek default risk has resurged in the last few days to its highest since the last 'restructuring'...

 
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Marxist Group Takes Turkish Prosecutor Hostage, Posts Pictures





In the midst of a near-nationwide blackout that grounded planes and froze rail traffic and which officials say could be terror-linked, armed gunman have taken a prosecutor hostage in an Istanbul court house.

 
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Massive Blackout Hits Turkey, Grounding Planes, Stopping Subways; Terror Not Ruled Out





Turkey suffered a massive power outage that left half of the country’s 81 provinces without electricity, in what was the largest blackout in a decade and a half. Possible causes include a cyber attack and/or cats...

 
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According To The TSA, You May Be A Terrorist If...





The TSA has issued a set of guidelines that, if interpreted correctly, will assist in the identification of terrorists. Do you fit the description?

 
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De-Dollarization Continues As Russia Seeks AIIB Membership





As Moscow and Seoul throw their support behind China's Asian Infrastructure Investment Bank, the question is no longer about the end of dollar hegemony but rather about the extent to which the new venture will be used to institute a global shift towards the yuan. 

 
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Turkey Devolves Into A Full Police State: Law Grants Unlimited Powers To Weaponized Police Force





While a source of much schadenfreude by its neighbors and casual onlookers, Turkey has become a glaring example of what happens to a formerly respectable nation as it devolves entirely into a banana republic with not only authoritarian overtones but a police state to boot. And earlier today, Turkey's conversion to a full blown police state was complete when, after weeks of heated debates and brawls in parliament, Turkey’s government passed a security package expanding police powers, along with an online surveillance law and a discretionary fund for President Recep Tayyip Erdogan to fund covert operations. 

 
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Beyond Iran And Pakistan: 7 Nuclear Wannabes





While fear still lingers of a nuclear catastrophe on a similar scale as Fukushima, or earlier accidents such as Three Mile Island or Chernobyl, that hasn’t stopped a slew of countries from moving forward on plans to develop nuclear plants as an adjunct to existing power sources like hydro, coal, natural gas and good ol’ oil. Especially in developing countries that lack access to fossil fuels, nuclear is seen as a viable and cost-effective form of baseload power.

 
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