Press Review on the Global Systemic Crisis

EAB excerpt - The Fed's last bullets
The poker game played by the Fed is coming to an end. The bet was that support of finance and real estate would allow a revival of the real economy before having to withdraw this support because of an untenable position going forward. This programme enabled the country to gain access to cheap credit, which is already a success. But as regards the real economy, apart from having created new bubbles, the bet appears to have been lost. As we have seen, the situation hasn’t got better, quite the contrary...
LEAP/E2020 - Excerpt GEAB N°75 (May 16, 2013)
Goldman: This US Treasury Sell-Off Is For Real
With yields on government bonds jumping in the past week, Goldman Sachs has warned that a widely predicted bond sell-off is finally happening, while a major U.S. asset manager has warned investors to move out of long-duration bonds to avoid heavy losses...
CNBC
Bank of France Seeking Yuan Liquidity Agreement for Euro Area
Bank of France Governor Christian Noyer said he’s seeking agreement among euro-area central banks for ways of providing liquidity support in Chinese yuan as countries compete for future business...
Bloomberg
The Global Economy Balancing on a Pinhead
Japan and the United States are using asset bubbles to revive their economies. They are struggling to manage the speed of bubble expansion or contraction. This dancing on a pinhead brings big uncertainty to the global economy. When they fail, a global recession may follow...
Caixin
Le pétrole de schiste américain divise davantage l'OPEP
Les ministres de l'OPEP, l'Organisation des pays exportateurs de pétrole, se réunissent aujourd'hui, vendredi31 mai 2013, à Vienne. Le cartel pétrolier ne devrait pas remettre en cause son niveau de production global. Ce qui n'empêche pas les clivages de s'aggraver au sein de l'OPEP, à mesure que les Etats-Unis produisent de plus en plus leur propre pétrole...
RFI
Reform to ease debt risks
A financial reserve, a control framework and rational division of power between governments will help balance the books...
China Daily
Far-right groups plan day of demonstrations across England
Far-right groups are planning their biggest mobilisation for 30 years this weekend with more than 50 demonstrations planned in towns and cities across England...
The Guardian
Zone euro: chômage record à 12,2%
Le taux de chômage de la zone euro s'est établi à un nouveau niveau record en avril, à 12,2% de la population active, selon les données publiées vendredi par l'office européen de statistiques Eurostat. Quelque 19,37 millions de personnes étaient au chômage en avril dans les 17 pays de la zone euro, précise Eurostat dans un communiqué...
Le Figaro
Fearing high inflation Brazil raises basic rate 50 basic points to 8%
Brazil's central bank raised its benchmark interest rate on Wednesday to 8% from 7.5%, as part of an effort to battle high inflation in an economy that keeps struggling with slow growth...
MercoPress
US fears over cuts in British defence
General Ray Odierno revealed that he has repeatedly raised concerns with British defence chiefs that Britain’s shrinking forces will be unable to work alongside the Americans...
The Telegraph
Japan World’s Largest Creditor Nation for 22nd Straight Year
Japan held on to its position as the world’s largest creditor nation for the 22nd straight year in 2012, despite its recent export slump, as a surge in the dollar at the end of the year helped inflate the value of its overseas assets...
WallStreetJournal
Volatile US Bond Market a Major Risk for Global Economy: OECD
While growth in the U.S. will likely outpace major developed markets in the coming months, according to the Organization for Economic Co-operation and Development (OECD), it warned potential instability in the country's bond market arising from a tapering of quantitative easing (QE) poses a major threat to the outlook for the global economy...
CNBC
Suède : du modèle social au paradoxe social
Depuis plus d'une semaine, la Suède est le théâtre, comme la France en 2005, de manifestations violentes, en particulier dans les quartiers pauvres des banlieues où vivent la majorité des Suédois d'origine étrangère...
La Tribune
Offshore yuan bonds issued in Singapore
Two major international lenders launched the first batch of offshore yuan-denominated bonds in Singapore on Monday, making the country the third offshore hub for such notes and consolidating its standing as an international financial center...
China Daily
Italy to leave EU 'crisis list' after cutting deficit
EU sources indicated on Monday (27 May) that Italy will be among several countries to be taken out of an Excessive Deficit Procedure (EDP) when the European Commission delivers its verdict on national reform programmes (NRPs) and budget plans on Wednesday (29 May)...
EUObserver
Greek Economy Optimism Seen in Yield-Curve Switch
Greece’s 10-year yield fell below the rate on its 30-year securities last week for the first time in almost three years, adding to signs the bond market in the nation that triggered the euro region’s debt crisis is healing...
Bloomberg