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Euroland 2012-2016 (Part 2) - 2013-2015: Definition of the implementation
of Euroland’s international strategy (NATO, UNO, Euro-BRICS, G20…)
If the 2012-2013 period is going to be particularly marked by the
stabilization of Euroland’s institutional and economic-financial base,
nevertheless it’s from 2013 that we will see the Europeans’ new international
maturity. The crisis, and in particular the violent attack suffered by the
Eurozone by those who were supposed to be its strategic allies, the United
Kingdom and the United States, has in fact radically modified the perception of
Euroland’s vital interests, not only on the part of its elite but also its
citizens...
Manuel Garcia-Margallo, a affirmé mardi que les pays de l'UE s'acheminent vers
une Europe fédérale comme alternative à la crise économique qui secoue la zone
euro. "Nous sommes à la veille de changements qualitatifs dans l'Union
européenne", a-t-il assuré lors d'une conférence de presse, au cours d'une
visite de 24 heures dans la capitale péruvienne, "où les choix sont régresser ou
faire le saut vers une Europe fédérale".
Sales of newly built homes fell hard in June, despite newfound optimism in
the housing recovery, especially among the home builders themselves. Signed
contracts to buy new homes fell 8.4 percent from the previous month, according
to the U.S. Commerce Department, although they are still up 15 percent from a
year ago.
The figures from the Office for National Statistics are much worse than
forecasts for a 0.2pc contraction. It marks the third successive quarter of
contraction, leaving Britain in its longest double-dip recession in more than 50
years. The economy shrank by 0.3pc in the first quarter of the year, following a
0.4pc contraction in the final quarter of 2011.
Dear Doctor: Thank you for referring Mr. Global Economy to me. The
patient’s history includes a seizure in 2007/ 2008 — financial losses, banking
problems, a major recession. Liberal injections of taxpayer cash avoided
catastrophic multiple organ failure, assisting a modest recovery.
An emerging network of Chinese banks is gradually unfolding across the
European continent, with corporate and private clients standing to benefit from
the additional services...
Cologne-based financial strategist Philip Vorndran says inflation is the
only way out of the European debt crisis. But that would not only shrink debt,
it would also slash people's savings.
Japan reported its biggest half-year trade deficit ever as exports
weakened and fuel imports soared to keep the power on while most reactors are
idled in the aftermath of last year’s nuclear crisis.The Ministry of Finance on
Wednesday reported a 2.9 trillion yen ($37.4 billion) trade deficit for the
first half.
Deutsche Bank AG (DBK.XE) on Tuesday said it would post an unexpectedly
sharp drop in second-quarter net profit and warned that it won't meet earlier
market expectations for the year, in what marked a disappointing debut for newly
appointed Co-Chief Executives Anshu Jain and Juergen Fitschen.
Le nombre de villes quasiment insolvables ou d’ores et déjà en faillite
aux USA ne cesse d’augmenter, imposant une économie urbaine d’apocalypse, avec
une régression extraordinaire de tous les services publics. Les échos de cette
situation sont de plus en plus nombreux et montrent l’absence totale de
programmes nationaux, d’efforts du gouvernement central pour tenter d’enrayer
cette tendance...
Brussels advised to widen its approach to achieve consensus. Beijing
remains firm on its stance of settling the carbon tax dispute with the European
Union through a multilateral approach, a Chinese official said. The official,
who requested anonymity, said talks between China and the EU over the tax are
making little progress.
A global super-rich elite has exploited gaps in cross-border tax rules to
hide an extraordinary £13 trillion ($21tn) of wealth offshore – as much as the
American and Japanese GDPs put together – according to research commissioned by
the campaign group Tax Justice Network.
Power generation slows down as economy activity shows weakness
WE lowered the estimate for power generation growth in China this year but
expected a gradual rebound in the second half. The growth clip will be among the
weakest in recent history. Power consumption of the industrial sector (74
percent of total) was particularly weak compared with residential and commercial
sectors.
Eurozone banks have retreated dramatically from the US over the five years
since the financial crisis began, cutting their assets in the country by more
than a third, according to a Financial Times analysis of Federal Reserve data.
Bank failures, asset writedowns and the sale of loans and businesses have sent
US assets of eurozone banks tumbling by $540bn from their $1.51tn peak in
September 2007.
Worries that
Spain, the euro zone’s fourth-largest economy, will
become the latest casualty to need a direct full-blown
rescue from its neighbors drove investors out of the
country’s debt on Friday and sent yields to euro-era
highs. But one hedge fund manager says it could pay to
be contrarian now and go long on Spanish
bonds .
CNBC
Still
Think That Money Market Fund Is “Cash”?
When
investors decide to close out their riskier positions
and move into “cash”, they don’t actually go to the bank
and get a stack of twenties. Most just sell their stocks
and let their broker sweep the proceeds into a money
market fund which, they assume, is the same thing as
cash because it holds high-quality short-term commercial
paper that almost never defaults.
Dollar Collapse
Spain’s
bosses need an internal devaluation
Spain is
fertile ground for a “shareholder spring” over executive
pay. Bosses in some cases make multiples more than their
peers in other European countries, as do board
directors. Investors turned a blind eye in the boom
times. Now their inaction is even harder to excuse. Take
Telefonica, where Cesar Alierta has been executive
chairman since 2000. In 2011, he made 10.2 million euros
in basic salary, cash bonus, benefits and pension.
Reuters
UBS Issues Hyperinflation
Warning For US And UK, Calls It Purely "A Fiscal
Phenomenon"
Supposedly
warnings about the latent inflationary threat posed by
simply ridiculous non-financial debt levels (as
presented most recently here yesterday), not to mention
financial debt (which as MF Global's rehypothecated
implosion demonstrated so vividly can be any number
between minus and plus infinity, thank you London
"regulators") from the blogosphere can be ignored ($15
trillion melting ice cube that is shadow banking which
also doubles as the best inflationary buffer known to
man, notwithstanding).
ZeroHedge
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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.
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CNBC
Dollar Collapse
Reuters
ZeroHedge
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