GLOBAL SYSTEMIC CRISIS NEWS

Commodities : not only oil is at risk...
Last year central banks printed huge amounts of money which has been pumped into the financial system and not used to support economies. A lot of this money moved into the stock market, commodities and emerging markets. Whilst economies are struggling and hardly growing we are still seeing high commodity prices. As we predicted in the GEAB N° 73 oil prices are now collapsing and we think they can go a lot lower. Not only is oil at risk, all commodities are. To understand why this is so, one has to understand how speculators position themselves in the market. Commodity speculators buy futures, ETF’s or other structured products; most of these contracts are backed by the actual commodity stored in warehouses...
LEAP/E2020 - Excerpt GEAB N°74 (April 16, 2013)
UK deal on Caribbean tax havens boosts prospect of EU-wide crackdown
British tax havens in the Caribbean have agreed to provide information on offshore bank accounts (2 May), in a step which increases the prospect of an EU-wide agreement on information exchange on overseas accounts used to evade taxation...
EUObserver
ECB steps in, vows help 'as long as needed'
The European Central Bank on Thursday (2 May) lowered its key interest rate to a record low of 0.5 percent and vowed to take more action "if necessary", in a move aimed at alleviating recession and unemployment in the eurozone...
EUObserver
India cuts interest rate 0.25 point to 7.25%
The Reserve Bank of India on Friday lowered its benchmark lending rate by a quarter percentage point, as widely expected, but suggested further reductions were unlikely amid risks of an increase in inflation...
Market Watch
Data shift to lift US economy 3%
The US economy will officially become 3 per cent bigger in July as part of a shake-up that will see government statistics take into account 21st century components such as film royalties and spending on research and development...
Financial Times
Stock Markets Don't Want a Strong Economy: Bob Doll
Stock markets don't want a strong economy, since a resurgence in growth would mean the end of cheap money and heighten worries about inflation, said Bob Doll, chief equity strategist at Nuveen Asset Management...
CNBC
L’armée française revoit ses ambitions à l’aune des économies budgétaires
La France se dote d’un quatrième Livre blanc pour la défense et la sécurité. Son contenu a été dévoilé ce lundi 29 avril par le président de la République. C’est lui qui a fait les derniers grands arbitrages dans ce nouveau « contrat opérationnel » pour les 15 à 20 ans à venir, avec les contraintes budgétaires comme feuille de route...
RFI
EU Social Affairs Commissioner: 'Wages in Germany Must Increase'
Wages in Germany must increase and the government should establish a nationwide minimum wage, says EU Social Affairs Commissioner László Andor. In an interview with a German daily, he calls for a radical change in policy in the euro crisis and argues for a shift away from the country's export model...
Der Spiegel
Turkey becomes partner of China, Russia-led security bloc
NATO member Turkey signed up on Friday to became a "dialogue partner" of a security bloc dominated by China and Russia, and declared that its destiny is in Asia...
Yahoo/Reuters
Poll Shows Isolationist Streak in Americans
Americans are exhibiting an isolationist streak, with majorities across party lines decidedly opposed to American intervention in North Korea or Syria, according to the latest New York Times/CBS News poll...
New York Times
Les frontières poreuses de la politique britannique avec la City
Un simple entrefilet découvert dans le Financial News, l'hebdomadaire financier faisant autorité dans la City, et nous voilà bien intrigué ! Andrew Mitchell, ex-ministre chargé de la discipline des parlementaires conservateurs, poste-clé au sein du gouvernement britannique, a rejoint l'équipe de Montrose Associates...
Le Monde
Greek parliament approves 15,000 civil service job cuts
The Greek parliament has passed a bill which will see 15,000 state employees lose their jobs by the end of next year. The bill passed by 168 votes to 123, and had the support of the three parties making up the ruling coalition...
BBC
Cette nuit en Asie : la tension monte dangereusement à la frontière entre la Chine et l’Inde
Des soldats chinois occupent depuis trois semaine le plateau de Dapsang, en territoire indien. New Delhi accuse la chine d’agression, les militaires indiens pressent leur gouvernement d’autoriser un intervention. La chine feint d’ignorer le préjudice et entretient le flou...
Les Echos
RBS swings to profit as impairments fall
Royal Bank of Scotland Group PLC RBS +0.84% swung to a first-quarter net profit Friday and said it will have largely completed its restructuring in 2014, potentially paving the way for the U.K. government to start selling down its stake in the bank...
Market Watch
Ukip makes huge gains in local government elections
Ukip has delivered its strongest performance in local elections after making a series of gains across England...
The Guardian