EMerging Equity
Debt Default
Emerging Markets Feeling The Heat From S&P
Emerging market economies are feeling the sting amid an oil price crisis and a slowdown in global growth which is battering economies, markets, and companies; alongside political risk these factors are eroding creditworthiness, which has lead to a spate of downgrades from ratings firm Standard & Poor’s (S&P). S&P has been the first ratings firm to downgrade sovereign debt from Saudi Arabia to Poland so far this year. On February 17, … Continue reading
Saudi Arabia: Debt Default Looms As IMF Sees Years Of Austerity Ahead
The International Monetary Fund (IMF) estimates that years of higher taxes and low fuel subsidies lie ahead for oil-rich Saudi Arabia as crude oil prices have plunged over 70 percent in 18 months and that weaker players could soon start to default on debts. Saudi Arabia must stop relying so heavily on oil revenues, which make up over 80 percent … Continue reading
The Next Crisis Has Begun
By Phoenix Capital Research Last year we predicted that the world had reached peak centralization and that going forward things would begin to fracture. What is centralization? Centralization is the process by which the world grows increasingly centralized, relying on Centralized organizations (Central Banks, sovereign governments, etc.) to determine the direction of capital and focus. From … Continue reading
Behind Germany’s Refusal To Grant Greece Debt Relief – Op-Ed In The Guardian
Originally posted on Yanis Varoufakis:
Tomorrow’s EU Summit will seal Greece’s fate in the Eurozone. As these lines are being written, Euclid Tsakalotos, my great friend, comrade and successor as Greece’s Finance Ministry is heading for a Eurogroup meeting that will determine whether a last ditch agreement between Greece and our creditors is reached and whether…
Lawrence Solomon: Russia’s Grentrance
Originally posted on Financial Post:
If Greece leaves the eurozone, Russia will enter it, casting a chill over Europe The world is focused on the immense implications of a Grexit, or an exit of Greece from the European Union. It might also consider the immense implications of a Grentrance, or an entrance into Greece of…
Greece: Polls Show The Country Is On Course To Reject A Bailout Proposal From Creditors
“Greece’s finance minister will hold talks with top Greek bankers later on Sunday, a Finance Ministry official told Reuters, after opinion polls showed Greeks were on course to reject a bailout proposal from creditors,” ekathimerini reports. Third of all votes counted ‘No’ votes ahead with 60.9%, according to Bloomberg. With 59.3% of votes counted, NO: 61.1%. … Continue reading
‘No Reason Why Greece Could Not Have Two Currencies’ – A Euro Architect
Today we still use an industrial age monetary construct while we have technologies to do things differently. Greece could create a precedent with a different way of addressing economic problems, says one of the architects of the euro, Bernard Lietaer. RT: You were one of the people who helped bring about the birth of the … Continue reading
IMF Backs (Ever So Peculiarly) The SYRIZA Government’s Debt Assessment
Debt relief ought to be at the centre of negotiations over a New Deal for Greece. That has been our government’s mantra from 26th of January, our first day on the job. Exactly five months later, on 26th of June, the IMF has conceded the point (as evidenced earlier today by the NYT) – on … Continue reading
Greece: 9 Myths About The Crisis
The citizens of Greece face a referendum Sunday that could decide the survival of their elected government and the fate of the country in the Eurozone and Europe. Narrowly, they’re voting on whether to accept or reject the terms dictated by their creditors last week. But what’s really at stake? The answers aren’t what you’d … Continue reading
US Senator Bernie Sanders Blasts Greece’s Creditors
Sen. Bernie Sanders (I-Vt.) attacked the International Monetary Fund and European authorities on Wednesday for imposing what he called excessive austerity measures on Greece in negotiations over the country’s debt payments. [Click here for the Huffington Post site, or read on] Sen. Bernie Sanders (I-Vt.) attacked the International Monetary Fund and European authorities on Wednesday for imposing … Continue reading
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