Eastern Ukraine has recently seen its worst period of attacks by Russian-backed separatists since they captured the town of Debaltseve in February. It had fallen in the days after the two sides reached the Minsk-2 ceasefire agreement. Ukraine, Russia and the West have repeatedly underlined the importance of Minsk 2, but whether it has been … Continue reading
Here is a look at the world’s riskiest sovereign debt in a map courtesy of Bank of America Merrill Lynch (BoA-ML) in a publication titled “Transforming World Atlas“. The map by BoA-ML uses the prices of Credit-Default Swaps (CDS), which financial contracts which measure the risk of default on sovereign debt; the higher the spread, the greater the risk of … Continue reading
Russia is now likely in recession with GDP growth expected to decline 3.4 percent this year, says the IMF in its annual economic assessment. Mission Chief Ernesto Ramirez Rigo, explains how Russia’s economic woes are largely due to the dramatic drop in oil prices, and sanctions in response to developments in Crimea and Ukraine. Ernesto … Continue reading
A number of recent major international developments suggests that Washington has recognized Moscow as an equal partner. US officials sat down at the negotiating table with their Russian counterparts. This is evidenced by the statement from the chief of the Russian Airborne Troops about possible assistance to Syria. What are they negotiating? Western sources say … Continue reading
The list of nations around the globe that have collapsing economies just continues to grow. By Michael Snyder In recent weeks I have written about the ongoing saga in Greece, the stock market crash in China, the debt crisis in Puerto Rico and the economic meltdown in South America. But there are more economic flashpoints … Continue reading
Ukraine’s international private creditors have proposed a 5% haircut. Last month Kiev asked the bondholders for a 40% debt relief worth about $15 billion. The 5% debt reduction proposal was made this week by Ukraine’s largest creditor Franklin Templeton Investments. The investment house holds about $8.9 billion in bonds, according to two people close to the negotiations. It … Continue reading
By Pepe Escobar You may have heard of the N-11. Yes, it’s another clever Goldman Sachs concoction, to the benefit of that prized specimen – the “global investor”. These are the next BRICS, the new emerging powers. The N-11 is made up of: Bangladesh, Egypt, Indonesia, Iran, South Korea, Mexico, Nigeria, Pakistan, Philippines, Turkey and Vietnam. Some … Continue reading
By Dr. Paul Craig Roberts Obama is being praised as a man of peace for the nuclear agreement with Iran. Some are asking if Obama will take the next step and repair US-Russian relations and bring the Ukrainian imbroglio to an end? If so he hasn’t told Assistant Secretary of State Victoria Nuland or his … Continue reading
Originally posted on Financial Post:
Greece is a deadbeat nation, Puerto Rico is a party that lives beyond its means, but last year war-torn Ukraine made more interest payments to its lenders than it spent trying to defend itself against Russia. I just returned from a trip to Ukraine and learned that Ukraine was forced…
By F. William Engdahl I want to share my impressions from a recent visit to St. Petersburg where I was invited to speak on a panel titled “Never Let a Good Crisis Go to Waste.” The title is another version of the old Chinese proverb, “A crisis also presents new opportunities.” This is what is emerging … Continue reading