2015/01/29 LEAP/E2020 Press Review on the Global Systemic Crisis. Libertad, Igualdad, Pluralidad.

Central Banks – What the coexistence of QE and deflation reveals about the Western financial system

Common sense (or rather economic sense) would expect that excessive use of the printing press, especially in the US and Japan, causes inflation – if not hyperinflation given the amount of money injected into the system. And yet, it’s nothing of the kind. Are deflation and the printing press conniving in the US ? Or in Europe ? How can that be possible ?

Excerpt of GEAB No 86 (June 2014)

Draghi's Dangerous Bet: The Perils of a Weak Euro

The recent decision by the European Central Bank to open the monetary floodgates has weakened the euro and is boosting the German economy. But the move increases the threat of turbulence on the financial markets and could trigger a currency war.

Der Spiegel

Does Russia's Turkey pipeline make sense?

Russia’s recent abandonment of “South Stream” in favour of “Turkish Stream” signals a new strategy on European exports. But does it make sense? The South Stream pipeline was supposed to connect Russia directly with southern and eastern Europe while avoiding “troubled” Ukraine.

EUObserver

Iran Is Ditching The Dollar In Foreign Trade

Iran is no longer using the US dollar in foreign-trade transactions and is replacing it with other currencies, the deputy governor at the Iranian Central Bank Gholami Kamyab said, according to Sputnik News.

Business Insider

Panos Kammenos: Greece and the silk road economic belt

It is a great pleasure for me to be with you today, and I thank the organizers warmly for their invitation. The subject of my speech is Greece and its role in the new Silk Road.

Schiller Institute

RMB breaks into the top five as a world payments currency

According to SWIFT data, the Chinese yuan overtook the Canadian and Australian dollar as a global payments currency in November 2014, and now takes position behind the Japanese Yen, British pound, Euro and US dollar.

Swift

Wall St. little changed after two-day losses, data supports

U.S. stocks were little changed in early trading on Thursday following two days of losses on the benchmark S&P 500, supported by strong labor market data on a busy day for corporate earnings.

Reuters

Germany's top institutes push 'Grexit' plans as showdown escalates

A top German body has called for a clear mechanism to force Greece out of the euro if the left-wing Syriza government repudiates the terms of the country’s €245bn rescue. “Financial support must be cut off if Greece does not comply with its reform commitments,” said the Institute of German Economic Research (IW). "If Greece is going to take a tough line, then Europe will take a tough line as well."

The Telegraph

Bank of England governor attacks eurozone austerity

Mark Carney says eurozone is caught in a debt trap and should ease hardline budget cuts just days after the Syriza election directly challenged policy .

The Guardian

«La Grèce peut forcer l’Europe à changer»

Yanis Varoufakis, économiste et auteur du "Minotaure Planétaire", est candidat pour le parti de la gauche radicale Syriza aux élections du 25 janvier. Il explique son engagement et le sens qu’aurait pour l’Europe une victoire du parti dirigé par Alexis Tsipras...

La Tribune

Primo semestre del 2015 : Il Greggio, il Medio Oriente, Charile Hebdo…Gli ultimi test di resistenza del “Modello Occidentale”: suicidio o adattamento

Nell’assenza di un’Europa capace di indicare le vere guerre del futuro, il « mondo di prima » si sta indurendo, chiuso nelle sue ideologie che “pensano seriamente” (le ideologie stanno sempre “pensando seriamente” ) e ripetono le ricette del passato ad nauseam. Nel fare questo, il “mondo di dopo” si sta trovando trasformato: diventerà meno multi-polare, più cinese, e la parte ricoperta dall’Occidente sarà ridotta visibilmente… In realtà, non si tratta di un patto con il diavolo...

LEAP / GEAB No 91 (Italian)

Kobane and the myth of ISIL expansion

After 134 days of resistance, the Kurdish People's Protection Units (YPG) in Kobane have finally beaten the assault by the Islamic State of Iraq and the Levant (ISIL) that was launched on September 15. Many analysts, journalists, ISIL itself, and western officials initially predicted a Kurdish defeat in Kobane.

Al Jazeera

Tsipras has first clash with EU – over Russia

he newly elected government of Alexis Tsipras argued with Brussels yesterday (27 January) over an EU Council statement threatening Russia with further sanctions. Athens claims its objections were not taken into account. EurActiv Greece reports.

Euractiv

Goldman cuts outlook for whole commodity sector

After countless oil price downgrades, analysts at Goldman Sachs have cut their outlook for the commodity sector as a whole. Goldman downgraded commodities on Wednesday—including energy, metals, agriculture and livestock—to "underweight" from "neutral" on a 3-month basis.

CNBC

McDonald's up 3.4% afterhours on CEO's exit

After months of lackluster results, McDonald's board has named a new CEO. Steve Easterbrook, 48, the company's chief brand officer, will replace Don Thompson, 51, the current CEO and a 25-year McDonald's veteran, effective March 1.

USA Today

Will the UK's gas holders be missed?

Gas holders helped warm the UK's homes for decades. But now they are being removed, with the National Grid saying land is being "redeveloped and given back to communities". Will these sentinels of the industrial age be missed?

BBC

 - - - - - - - - - - - - - - - - - - - - -

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