Thursday, April 27, 2017

Tag: Germany

EU summit lines up against Russia

On Thursday, the 28 leaders of the European Union gathered in Brussels at their final summit of the year. The EU is in deep crisis. Following the British decision to leave the EU, the election of Donald Trump as US president, and the rise of right-wing nationalist forces in...
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Mark Blyth: Global Trumpism and The Revolt Against The Creditor Class

Mark Blyth is a Scottish political scientist and a professor of international political economy at Brown University. At an event on November 9 at Brown's Watson Institute for International and Public Affairs, he spoke about "Global Trumpism" -- a worldwide working-class backlash against harmful macroeconomic trends. "What we have everywhere...

Did Shinzo Abe Get What He Came for in Meeting With Trump?

Japanese Prime Minister Shinzo Abe was the first foreign leader to meet with President-elect Donald Trump (and with his daughter Ivanka and son-in-law Jared Kushner). After the Nov. 8 U.S. election, Abe was quick to call Trump, who has for decades argued that America is losing to Japan on...

Germany Can Protect the Liberal Order

As U.S. President Barack Obama arrived in Berlin for a farewell visit on Wednesday, German policymakers were scrambling to develop a road map for dealing with the presidency of his successor, Donald Trump. Last week, in a congratulatory note to the president-elect, German Chancellor Angela Merkel gently conditioned Germany's...

Global Trumpism: Why Trump’s Victory Was 30 Years in the Making and Why It...

Trump's victory was predictable, and was predicted, but not by looking at polls. Polling has taken a beating recently having failed to predict the victory of David Cameron's Conservative Party in the British general elections, then Brexit, and now the election of Donald Trump. One can argue about what’s...

Bonds bloodied as Trump spending plans spur dollar

Routs in global bonds and emerging markets intensified, while the dollar climbed with base metals as investors positioned for the wave of fiscal stimulus that Donald Trump has pledged to unleash. The yield on 30-year Treasuries rose to the highest since January, with last week’s record debt selloff bleeding into...

Trump Hasn’t Mastered the Art of Killing the Iran Deal

The presidency-elect can’t kill the agreement directly – but he could undermine it from within. America has never known so little about a president-elect. After Trump ran a campaign almost completely void of substance, speculation about his positions regarding key national security issues is doomed to be based on nothing...

Over the Line: Bulgaria Welcomes Refugees With Attack Dogs and Beatings

Abdul Bashir was resting when the police dogs came. He and 11 others were in the dense mountainous forest that joins Turkey and Bulgaria. They had just crossed to the Bulgarian side, for the second time in a month, stepping over the low-hanging wire that divides the two countries. The dogs came out of the woods behind them. Abdul Bashir saw one attack a man in his group, biting his shoulder and dragging him across the ground. The man was bleeding.

Inside the invisible Government: War, Propaganda, Clinton & Trump

The American journalist, Edward Bernays, is often described as the man who invented modern propaganda. The nephew of Sigmund Freud, the pioneer of psycho-analysis, it was Bernays who coined the term "public relations" as a euphemism for spin and its deceptions. In 1929, he persuaded feminists to promote cigarettes for women...

Europe Wishes to Inform You That the Refugee Crisis Is Over

Greece - Skala Sikaminias is a little beach town on the northern coast of the Greek island of Lesbos. A year ago, rickety wooden boats and dinghies packed with Syrian refugees began plowing into the narrow stretch of beach next to the taverna in the town square. Within days, the flotilla had swelled to vast proportions; as many as 7,000 Syrian refugees were landing on Lesbos every day.

Euro house of cards to collapse, warns ECB prophet

The European Central Bank is becoming dangerously over-extended and the whole euro project is unworkable in its current form, the founding architect of the monetary union has warned. "One day, the house of cards will collapse,” said Professor Otmar Issing, the ECB's first chief economist and a towering figure in...

Do We Really Want A War With Russia?

Because we're in danger of getting exactly that. I wish I could say things were improving between the US and Russia but they aren't. They're rapidly worsening. There’s so much happening right now, I can only provide a summary of a few of the more interesting and worrying developments. This report builds...

Deutsche Bank Mismarked 37 Deals Like Paschi’s, Audit Says

Deutsche Bank AG, indicted for colluding with Banca Monte dei Paschi di Siena SpA to conceal the Italian lender’s losses, mismarked the transaction and dozens of others on its own books, according to an audit commissioned by Germany’s regulator. Executives at Deutsche Bank arranged 103 similar deals with a total...

Ukraine and Syria: Linked Together by Russia

The United States and Russia are now at daggers drawn over Syria. Following the collapse of the ceasefire negotiated last month by Secretary of State John Kerry and Foreign Minister Sergei Lavrov, the United States has abandoned talks with the Russians on Syria. Meanwhile, in a supposedly unrelated part...

Understanding Deutsche Bank’s $47 Trillion Derivatives Book

Size of figure can be misleading, but some of those assets are hard to value, stoking concern among investors. Shares in Deutsche Bank AG have fallen by more than 48% this year amid concerns that the lender faces a hefty fine from the Justice Department and as its core lending...

EU signs deal to deport unlimited numbers of Afghan asylum seekers

Plans for dedicated reception terminal in Kabul, but experts warn that violence and instability in Afghanistan make deportations unsafe. The EU has signed an agreement with the Afghan government allowing its member states to deport an unlimited number of the country’s asylum seekers, and obliging the Afghan government to receive...

Some Deutsche Bank Clients Unable To Access Cash Due To IT Outage

While it now seems that Friday's rumor of a substantially reduced Deutsche Bank settlement with the DOJ, which sent the stock price soaring from all time lows, was false following a FAZ report that CEO John Cryan has not yet begun the renegotiation process, and in the "next few...

According To JPMorgan, This Is The Biggest Risk Facing Deutsche Bank At This Point

Deutsche Bank uncertainties were added to concerns about BoJ tapering spooking global equity markets over the past week. Widespread press reports about Deutsche Bank clients and counterparties reducing their financial exposure to the bank, including their derivatives exposures, alarmed market participants. At the same time, JPMorgan warns, the amount borrowed...

Deutsche Bank Charged Over Paschi Accounts as Legal Hits Mount

Deutsche Bank AG was dealt a fresh blow on Saturday when an Italian court charged the company, an employee and five former executives for colluding with Banca Monte dei Paschi di Siena SpA to falsify the Italian lender’s accounts in 2008. Michele Faissola, who oversaw global rates at the time,...

Why is Deutsche Bank now the biggest worry in the financial world?

What’s going on with the banking industry? Since the credit crunch in 2008, banks have been struggling to adapt to their new environment. Low interest rates coupled with meagre yields in the financial markets mean banks can generate fewer profits from the deposits they collect, the loans they dole out,...
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Why Everything You Hear About Aleppo Is Wrong

What's really going on in Aleppo? Are Assad and Putin exterminating the population for sport? Is it a war against US-backed "moderates"? That is what the mainstream media would have us believe. We speak with Vanessa Beeley, a journalist who just returned from Aleppo for the real story.

The US is your know-it-all friend who should just keep his mouth shut

When makers of American foreign policy dream of an ideal world, they fixate on one word: primacy. It used to be called “full-spectrum dominance.” On the street, it comes out as “Don’t even think about it.” Tough guys in Western movies put it differently: “This town ain’t big enough...

The Run Begins: Deutsche Bank Hedge Fund Clients Withdraw Excess Cash

Deutsche Bank concerns just went to '11' as Bloomberg reports a number of funds that clear derivatives trades with Deutsche Bank AG have withdrawn some excess cash and positions held at the lender, a sign of counterparties’ mounting concerns about doing business with Europe’s largest investment bank. While the vast...

The Deutsche Bank crisis could take Angela Merkel down – and the Euro

There are some words that make such an unlikely pairing that we find it hard to put them together. Italy and efficiency, for example. Or Bake Off and Channel 4. And 'Germany' and 'banking crisis' is another one. Our image of German banks, and the German economy, as completely rock...

Deutsche Bank’s Monumental Mess – Merkel Says No State Aid, Depositor Bail-In Coming Up?

The €72 trillion (notional) derivatives mess known as Deutsche Bank remains under severe pressure. It’s market cap is $17.43 billion. It has no earnings and pays no dividend. On April 23, Deutsche Bank was Fined $2.5 Billion over LIBOR rate rigging. Twenty-one people face criminal charges following a seven-year investigation. On...

Merkel Rules out Assistance for Deutsche Bank, Focus Reports

Chancellor Angela Merkel has ruled out any state assistance for Deutsche Bank AG in the year heading into the national election in September 2017, Focus magazine reported, citing unidentified government officials. The German leader also declined to step into the Frankfurt-based bank’s legal imbroglio with the U.S. Justice Department, which...

Foreigners turn away from Treasuries just when needed most: Analyst

The biggest buyers of U.S. Treasuries have turned fickle on U.S. debt, just when they may be needed most. Peter Boockvar, chief market analyst at The Lindsey Group, points out that for a fourth month in a row, foreigners were net sellers of U.S. notes and bonds, dumping $13.1 billion...

Russia Trumps USA Energy War in Mideast

In a fundamental sense the entirety of the five-year-long war over Syria, as well as the entire Arab Spring from Libya to Egypt to Iraq has been about control of hydrocarbon resources—oil and natural gas– and of potential hydrocarbon pipelines to the promising markets of the European Union. Dick...

The End of the G-20: Has the Group Outlived Its Purpose?

Over Labor Day weekend, the leaders of the G-20 countries gathered in Hangzhou, China, for their annual summit. Their goal this year: save the good name of globalization, which has recently taken a beating. In the wake of Brexit, the U.S. Republican presidential candidacy of Donald Trump, the rise...

Bayer’s $66bn takeover bid of Monsanto called a marriage made in hell

Vermont senator Bernie Sanders leads outcry over merger, saying deal is ‘a threat to all Americans’ and should be blocked by regulators. German chemical giant Bayer's $66bn (£50bn) deal to buy controversial US agrochemical giant Monsanto and create the world’s largest seeds and pesticides company is “a threat to all...

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