2015/03/05 LEAP/E2020 Press Review on the Global Systemic Crisis

System of Western values and a multi-polar world

Tomorrow’s multi-polar world (or the day after tomorrow if everything blows up on the way) will not look like the West only larger. And the Europeans must relativize the universality of their current system of values so as not to pass their time making snap judgements on the democratic character or not, non-religious or not, libertarian or not, tolerant or not,… of the world’s governments. The case of the Charlie cartoons should help us realize this. Henceforth how can we believe in the universality of our values when we see the rejection they have caused abroad? That said, less than our own values, it’s their understanding and application that we have to rethink if we don’t want to end up isolated and museified. The secularism allegedly defended by “I am Charlie” is actually atheism, and not just any sort: militant atheism, which claims the right to refuse believers the right to believe...

GEAB No 92 / LEAP

ECB poised to raise funding for Greek banks as euro falls to 11-year low

European Central Bank raises emergency funding cap for Greece by €500m according to reports, as the central bank is set to reveal details of its €1.1 trillion QE blitz

The Telegraph

Spotlight: Ukraine still faces ambiguous future after year-long crisis

The future of Ukraine remains uncertain one year after a dramatic shift in power triggered the country's worst crisis in two decades, in spite of a brokered ceasefire between Ukrainian forces and independence-seeking insurgents.

Xinhuanet

U.S. banks plead for more tailored approach to Fed stress tests

When U.S. auto lender Ally Financial Inc (ALLY.N) failed a key regulatory test two years ago, its executives were surprised to learn that the main reason was that the Federal Reserve treated loans to car dealers just like riskier credit to energy producers or manufacturers.

Reuters

Obama set for Congress budget clash

President Barack Obama is setting up another clash with Republicans by sending Congress a budget that seeks to raise taxes on wealthier Americans and corporations and increase domestic spending,.

The Independent

EU democracy tool hanging in the balance

Less than three years after its launch, the EU's participative democracy tool has all but ground to a halt, amid criticism it is too complex and failing to result in change.

EUObserver

Does Europe need more fiscal spending?

An ex-finance minister of Poland says the ECB must directly provide fresh debt-free money to European agencies to spend on job creation and new infrastructure - if it doesn't, the EU could fall apart. Is he right?

Deutsche Welle

Negative Interest Rates Test Technology at European Banks

Widespread negative interest rates, once only a theoretical possibility, have become a real-life problem for Europe’s financial system.From Sweden to Spain, banks, brokers and other financial firms ...

Wall Street Journal

EU to revise relations with turbulent neighbourhood

A decade after launching it, the EU is trying to bring new life to its Neighbourhood Policy (ENP), which has been rendered largely irrelevant by developments in Ukraine and around the Mediterranean.

EUObserver

Razor attack on US envoy to S. Korea 'just punishment' for drills – N. Korea

North Korea has said the razor attack on the US ambassador to South Korea, Mark Lippert, was “just punishment” for the two countries’ joint military drills. The assault has left the US official’s face slashed, but he is now recovering.

RT News

Russia, China help stabilize global situation

International cooperation between Russia and China contributes to global stability and the formation of new world order, Russian Foreign Minister Sergei Lavrov said Friday.

China Daily

Turkish exercise notice over Aegean Sea fuels tension with Greece

An aviation notice issued by Turkey for a 10-month military drill in the Aegean Sea has sparked reaction from the Greek government, which reportedly complained about the move to international organizations over a “violation of Greek integrity and flight safety.”

Hurriyet News

Ukraine starts second phase of heavy weapons withdrawal

The Ukrainian armed forces on Wednesday began the second phase of pulling back their heavy weapons from the frontline in eastern regions, the press service for the government's military operation said.

Xinhuanet

Japan, China to hold first security talks in four years

Japanese and Chinese officials will hold their first security talks in four years in Tokyo later this month, Japan's Foreign Ministry said on Thursday, the latest sign of a possible improvement in ties strained by a territorial dispute.

Reuters

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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.

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