On June 2nd, EMerging Equity reported that Greece was planning to sign a document on political support for Gazprom’s Turkish Stream project at the St. Petersburg International Economic Forum. Surprisingly, while struggling with its debt, Greece wanted to allocate $2 billion to support its construction. And … it happened. Russia and Greece have signed a deal to create a joint enterprise for construction … Continue reading
Greece and Russia are planning to sign a bilateral agreement which would grant Athens up to five billion euros as prepayment for the construction of the Turkish Stream gas pipeline, according to a report on Friday from German magazine Spiegel. According to Spiegel, a deal is planned to be signed on Tuesday, and if the agreement is reached Greece would receive three to five billion … Continue reading
Russian President Vladimir Putin said on Wednesday that Greece’s participation in the Russia-proposed Turkish Stream gas pipeline project would make them Europe’s major gas distributing center and would bring them hundreds of millions of euros in annual revenues for transit services alone, in addition to raising the nation’s geopolitical status considerably. The statement from Putin came after talks … Continue reading
By Michael Snyder The long-anticipated collapse of the euro is here. When European Central Bank president Mario Draghi unveiled an open-ended quantitative easing program worth at least 60 billion euros a month on Thursday, stocks soared but the euro plummeted like a rock. It hit an 11 year low of $1.13, and many analysts believe … Continue reading
By Ernst Wolff With the Greek elections only days away, the governments and the media of the European Union have once again stepped up their campaign of threatening the Greek people and stirring up anti-Greek sentiments. While the IMF has shown its contempt for democratic elections by suspending all payments to Athens, the German government … Continue reading
By Binoy Kampmark In the latter part of 2014, China became the world’s largest economy, dethroning the United States which has held the position since 1872. The technique for identifying such sizes will always be up for question, even if the IMF did account for the issue of purchasing power parity. Those in the US … Continue reading
By Petr Lvov During his recent trip to Ankara, President Vladimir Putin said on December 1 that the construction of the South Stream gas pipeline project for Southern Europe would be terminated due to the negative position of both Bulgaria and Brussels. Instead of that, it was proposed to build a gas pipeline through the territory … Continue reading
By Daisy Sindelar Russian President Vladimir Putin rarely makes an uncalculated gesture or concedes defeat. So his announcement on December 1 that Russian energy giant Gazprom was pulling out of plans to build the South Stream natural gas pipeline to southeastern Europe took many by surprise. Russia had long sought a direct route to Europe that would bypass transit … Continue reading
Gazprom CEO Aleksey Miller said the energy giant will build a massive gas pipeline that will travel from Russia, transit through Turkey, and stop at the Greek border – giving Russia access to the Southern European market. The pipeline will have an annual capacity of 63 billion cubic meters. A total of 14 bcm will … Continue reading