Friday, January 19, 2018

The biggest debt write-offs in the history of the world

From ancient Babylon to 1930s Europe, debt jubilees have been far more common than discussions over Greece would suggest. A small southern eastern European country has announced a widescale programme of debt cancellation. No, it's not Greece, but Croatia. The Croatian government will be wiping off the liabilities of around 60,000...

Deadlock over Greek debt crisis could play into Russia’s hands

As Alexis Tsipras courts both Angela Merkel and Vladimir Putin, diplomats fear the country’s economic woes are spiralling into a potential geopolitical threat. Greece’s battle to stay solvent and in the eurozone is becoming a game of dangerous brinkmanship. Beyond the war of words between Athens and Berlin, the dark...

3 European Powers Say They Will Join China-Led Asian Infrastructure Investment Bank

BRUSSELS - Ignoring direct pleas from the Obama administration, Europe’s biggest economies have declared their desire to become founding members of a new Chinese-led Asian investment bank that the United States views as a rival to the World Bank and other institutions set up at the height of American...

Europe’s economic powerhouses snub US, sign up to China-led World Bank

France, Germany and Italy have joined the UK in signing on to Asian Infrastructure Investment Bank, against US wishes. France, Germany and Italy on Tuesday joined the U.K. in signing onto the Chinese-led Asian Infrastructure Investment Bank (AIIB), brushing off Washington's reservations about the burgeoning institution and leaving the U.S....

One Port, Two Worlds: China Seeks Dominance in Athens Harbor

A Chinese executive with shipping company Cosco has helped transform part of Athen's Port of Piraeus into a success story. The multinational firm now has a controversial plan to acquire the whole facility and put it on track to join the ranks of Hamburg and Rotterdam. One could argue that China's...

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