Portugal

Yellen, Carney Pull Out Of ECB Forum In Portugal

How do you know that "things are getting serious"? Well, one way as Jean-Claude Juncker explained before, is that "you have to lie." Another is when central bankers start withdrawing from cental bank gatherings, which as Reuters reported is what both Mark Carney and now Janet Yellen have done, in this case pulling out of the ECB Forum on Central Banking that starts today and lasts through Wednesday.  Clearly they have bigger things on their plate...

Key Events In The Coming Week: All About Brexit

With global markets gyrating on every piece of news surrounding the Brexit drama, what’s the timetable for UK-related (and all other macro) events this week and beyond?

European Stocks, US Futures Extend Slide On UK Chaos, Pound Carnage

With global asset correlations once again approaching 1, overnight stocks have been trading in broadly "risk off" mode, following every twist of pound sterling and the rapidly deteriorating British financial situation as "chaos infects" virtually all markets, from China, to European banks, to US equity futures.  As a result of ongoing aftershocks from the Brexit vote, coupled with the sudden political chaos in UK politics, where both parties now seem in disarray, with the pound has extended its selloff to a fresh 31-year low dropping below the Friday lows while European equities are dropping to levels last seen in February.

The Rebellion Is Real; Brexit Was Merely A Warning

"...the actual disaster isn’t the vote, it’s the eight years of policy that made it thinkable... Brexit is not the disaster. The disaster is what they’re rowing from..." As soon as the focus returns to why the UK bailed in the first place the proper sympathy will shift from the poor Britons in a flimsy rowboat to Europeans still trapped on the Titanic.

Who Is The "European Movement" And Why The Answer May Change How You Vote On "Brexit"

The revelation that the EU is the result of a major US secret service operation – effectively just yet another secret creature of deception launched by the CIA (taking seat of honour in the hall of infamy that includes false flag operations, invasions, coup-detats, and the establishment of organisations such as Al Qaida and ISIS) solves the third mystery, namely how on earth the allegedly democratic European nations could design such an undemocratic, virtually dictatorial structure.

Brazilian Telecom Giant Files Largest Bankruptcy In Nation's History

Brazil’s troubled telephone company Oi SA on Monday filed the largest bankruptcy protection request in the country’s history just days after debt restructuring talks with creditors collapsed. The filing of Oi and six subsidiaries lists 65.4 billion reais ($19.26 billion) in debt.

Stocks, Sterling Rise As "Brexit" Fears Forgotten; Dollar Drops Ahead Of Yellen Speech

Tuesday's overnight price action has been a continuation of yesterday's Brexit relief rally, as investors focused on the two latest polls favorable to Remain in Thursday's referendum (while ignoring the YouGov poll which gave Leave a small lead), and hoping the doom and gloom by George Soros will convince the undecideds to vote against Leaving. As a result, global stocks continued their advance while pound extending the biggest rally since 2008.

Forget Brexit, It's The Banks Stupid!

Political instability for the EU is a significant and visible threat, but is not the immediate problem, which is financial. As a result of savings and spending imbalances, none of the core Eurozone states can stand on their own.

Is Europe Doomed By Migrants?

Most of the millions of overwhelmingly male migrants who have come to Europe in the past two years are not refugees fleeing war zones.

Greeks Send An Open Letter To UK Citizens About Brexit

Dear friends of democracy in the UK,

We want to express our solidarity as we know that you have to take a historical decision for your country and for your people, as we did last summer. On 23rd June 2016 you will have to decide in a referendum on the United Kingdom’s membership of the European Union. A referendum is a direct democratic element, the highest expression of the peoples will, a privilege and a rare opportunity in the European Union.  You have now the historical chance to mark your national independence day and stop the further transformation of Europe into a European dictatorship.

European Peripheral Bond Risk Explodes: Forget Brexit, "Now It's Italy's Turn"

If there was any doubt that Brexit was "relevant" then the surges in European peripheral bond risk, despite massive bond-buying by The ECB, should send shivers up and down the status quo huggers that are shrugging the referendum decision off because "central banks will provide liquidity." However, it's not just The UK that EU officials need to worry about, as The Globalist notes, Germany will have to change its policies if it wants to avoid exit of other countries from the eurozone.

"Deliberately Overblown" Brexit Fears Backfire

As the June 23rd BREXIT (the UK-wide referendum to leave the EU) vote draws near, the polls indicate a close result. Those urging a vote for the UK to remain inside the EU are suggesting increasingly dire economic consequences that would follow a yes vote by the British people to leave. Voices from London, Brussels, and Washington have all put immense pressure on British voters to bend to the will of the elites. To listen to their commentary one would think that apocalypse was just around the corner. But is there any substance to their warnings?