A showdown between Western leaders and Russian President Vladimir Putin is likely at the G20 summit in Australia starting on Saturday, following fresh reports of Russian troops pouring into eastern Ukraine. Ukraine has accused Russia of sending soldiers and weapons to help separatist rebels in eastern Ukraine launch a new offensive in a conflict that […]
LATEST NEWS : Kuroda Has Draghi in a Bind as Euro Soars Against Yen
Mario Draghi has something new to worry about as he prepares for tomorrow’sEuropean Central Bank policy meeting: the euro-yen exchange rate. The yen approached a six-year low versus the shared European currency after Bank of Japan Governor Haruhiko Kuroda surprised investors late last week by extending his record stimulus program. Kuroda’s actions jeopardize the weaker […]
LATEST NEWS : Zero growth best hope for Germany as confidence disappears
German business confidence continued to deteriorate in October amid fears that the eurozone could enter a triple-dip recession. The Ifo Economic Institute’s closely-watched business climate index tumbled to 103.2 in October, from 104.7 in September. This was well below economists’ expectations of a slight fall to 104.5 and represents the sixth consecutive monthly decline. continue […]
LATEST NEWS : ECB starts buying covered bonds in fight to revive euro zone economy
The European Central Bank has started buying covered bonds, an ECB spokesman said on Monday, opening a new front in its battle to revive the euro zone economy and keep deflation at bay. The ECB has already given banks the opportunity to borrow four-year loans and will also start buying bundled loans or asset-backed securities […]
LATEST NEWS : Draghi Devaluing Euro Cheers ECB as Inflation Seen Fading
Mario Draghi’s strategy for reviving the euro area looks like devaluation. While the European Central Bank president says the exchange rate isn’t a policy target, officials aren’t secretive about their approval of the currency’s almost 10 percent slide. The depreciation increases the cost of imports and boosts exporters’ competitiveness, aiding the effort to revive inflation […]
LATEST NEWS : A Brief History of US Money – Crash Course Chapter 9
Looking at the past 100 years of the US dollar’s history, one theme becomes abundantly clear: in times of crisis, the US government has no issue with changing its own rules or breaking its own laws. And those “temporary” emergency measures have a nasty habit of quickly becoming permanent. Among the more notable milestones of […]
LATEST NEWS : EU reaches preliminary deal on Russia economic sanctions
European Union ambassadors reached a preliminary agreement on Friday to push ahead with hard-hitting economic sanctions against Russia over the Ukraine crisis but details remained to be worked out, diplomats said. The 28-nation EU has toughened its stance towards Moscow since last week’s downing of a Malaysian airliner in an area of eastern Ukraine held by Russian-backed […]
LATEST NEWS : French Foreign Minister: '500 Days to Avoid Climate Chaos'
Secretary of State John Kerry welcomed French foreign minister Laurent Fabius to the State Department in Washington on Tuesday to discuss a range of issues, from Iran to Syria to climate change. Or, in the words of the foreign minister, “climate chaos.” Kerry and Fabius made a joint appearance before their meeting, and the foreign minister warned […]