2015/07/16 LEAP/E2020 Press Review on the Global Systemic Crisis

3rd Industrial Revolution: in 10 years, the cumbersome great banks will have disappeared The crisis that we are currently experiencing is a systemic crisis. It is affecting and radically transforming the whole system in place, particularly its key elements such as banks, for example. In political anticipation, it’s important to situate these anticipations in the short to medium term within the landscape of long-term trends. Here, we are participating in applying the consequences of the 3rd industrial revolution (the Internet) to the banking system which we anticipate that, like any pillar of the system in place, will suffer and change radically in the next decade. Just like the music and book publishing businesses in their day and, increasingly, the intermediary sectors (hotels, transport, etc…), the cumbersome great banks have no chance of remaining the prerequisites for currency flows in the face of new opportunities of direct contact between supply and demand over the internet. For these ageing and, moreover, highly criticized institutions, watch out therefore for the jolts on the future path... Excerpt of the GEAB No 93, March 2015   Greek MPs pass bailout austerity laws Greek prime minister Alexis Tsipras survived a rebellion by a quarter of his governing Syriza party on Wednesday night, after the Greek parliament passed a series of austerity measures needed to access a third EU bailout... EUObserver   Obama thanks Putin for Iran nuclear deal US President Barack Obama has thanked his Russian counterpart for his role in achieving a nuclear agreement with Iran. Washington says the two leaders also pledged during the talk to work to reduce tensions in Syria... Deutsche Welle   Le Brésil pourrait devenir le premier fournisseur mondial de produits alimentaires Le Brésil, septième économie de la planète, pourrait dépasser les Etats-Unis et devenir premier fournisseur de produits alimentaires et biens agricoles du monde, selon un rapport présenté mercredi 15 juillet par la FAO et l’OCDE... Le Monde   British banks complain of 40 billion pound extra tax bill Britain's banks will have been hit by an additional 40 billion pound tax bill by the end of this decade, harming their ability to lend to businesses and create new jobs, an industry lobby group said on Wednesday... Reuters   EU Agrees to Provide Financing for Compressed Air Energy Project The European Union has agreed to provide as much as 6.5 million euros ($7.1 million) in financing for a compressed air energy-storage project in underground caverns near Larne, Northern Ireland... Bloomberg   Uber hit with multimillion-dollar fine for refusing to reveal business data in US Uber picked up a substantial fare in California on Wednesday when a judge fined the taxi-alternative company US$7.3 million ($9.9 million) for refusing to give state regulators information about its business practices, including accident details and how accessible vehicles are to disabled riders... The Guardian   Slovenian rockers Laibach to play as first foreign band in North Korea Slovenia's Laibach will bring heavy rock to North Korea next month, according to the band's record label. Laibach scored "Iron Sky 2," a forthcoming film in which Adolf Hitler commands an army of tyrannosaurus rexes... Deutsche Welle   Iran's nuclear program shifts from confrontation to scientific activities: FM With the recent nuclear deal between Iran and the world major powers, the nuclear program of the country will shift from confrontation to scientific and commercial activities, Iran's Foreign Minister Mohammad-Javad Zarif said here on Wednesday. China Daily   Japan's Abe pushes security bills through lower house, despite protests Japanese Prime Minister Shinzo Abe on Thursday pushed through legislation in the lower house of parliament that could see troops sent to fight abroad for the first time since World War Two, despite thousands of protesters overnight chanting and holding up placards reading "No War, No Killing"... Reuters   UK running out of money to pay for clean energy The government is struggling to pay for new clean energy supplies which could result in a rise in household bills or a major cut in investment in renewable technologies... The Guardian   NATO plans biggest exercise since 2002 to counter Islamic State NATO and its allies will hold their biggest military exercise in more than a decade from October, deploying 36,000 personnel across the Mediterranean to counter the threat of Islamic State on the alliance’s southern flank... Reuters   Forex cushion makes rupee more resilient to global shocks The Indian rupee may no longer be vulnerable to global events, such as the recent Greece crisis or a possible meltdown of China's stock markets, as the country's foreign exchange reserves are now adequate to fund imports for nearly 11 months... The Economic Times   UK restricts students' right to work hinese students who study in Britain won't be affected much by new rules on the right to work announced on Monday by James Brokenshire, the security and immigration minister... China Daily   Egyptian woman describes jail conditions in letter Esraa el-Taweel is one of thousands of young people detained by authorities since the fall of former-President Morsi. An Egyptian woman detained by authorities without charge since the start of June has provided a rare glimpse in to the lives of women detained in the country's prisons, in a letter she wrote... Al Jazeera

This special Press Review reviews articles from the French and Engligh-speaking international online media relating to the unfolding global crisis. It is delivered freely on a weekly basis to 60,000 recipients worldwide. Subscription / Contact: centre@europe2020.org