2015/09/10 LEAP/E2020 Press Review on the Global Systemic Crisis

The “subprime crisis” of the American University System, predicted by the GEAB, in 2007 Education is obviously a crucial area to prepare the new generations of tomorrow’s world – and it would be disingenuous to claim to apply it to yesterday’s recipes, made obsolete by the profound changes in our world. From 2007, the GEAB has identified the hazards and future paths in this area. In particular, the example of the global systemic crisis which is shaking the global order established in 1945 and then in 1989; subsequently the GEAB team anticipated the US university “subprime crisis”. It seems that we have now arrived at that point, since Fortune magazine is now sounding the alarm on the business schools’ deteriorating quality which once made the US’ reputation. Undoubtedly, we could go even further, because the tumour affects the whole of the US education system, not only its business schools. But that the cry of alarm should be given by a mainstream US publication and one not prone to anti-Americanism confirms the GEAB’s analysis, as if any were needed... GEAB by LEAP   Iceland, Liechtenstein, Norway, and Switzerland face EU threat on asylum Norway, Iceland, Switzerland, and Liechtenstein will have to agree to relocate asylum seekers in the latest EU scheme or face possible penalties. Refusal could see them booted out of the Dublin regulation, which requires the country in which asylum seekers first enter the EU to handle applications for asylum on behalf of everyone else... EUObserver   France launches reconnaissance flights over Syria French Rafale fighter jets have been sent on a reconnaissance mission over Syria to gather intelligence on “Islamic State” targets. French FM Laurent Fabius has said the “flights will determine what action can be taken.” France on Tuesday launched reconnaissance missions over Syria in a bid to gather intelligence on possible “Islamic State” targets for future attacks... Deutsche Welle   Austria says fight against Islamic State needs Syria’s Assad The West should involve Syrian President Bashar al-Assad in the fight against Islamic State, Austria’s foreign minister said on Tuesday, breaking with the view of most Western powers that say Assad is the source of the problem... Reuters   China Car Discounts Help Prop Up Sales Amid Stock Market Rout China auto sales barely rose last month after declining in June and July, as discounts and other incentive offers helped prop up sales after a steep rout in Chinese stocks rattled consumer confidence... Bloomberg   The promised ‘transparency’ around TTIP has been a sham Are you concerned about the implication of the Transatlantic Trade and Investment Partnership (TTIP)? Don’t worry! Only this month, the EU trade commissioner Cecilia Malmström promised another offensive on TTIP transparency: even more documents from the negotiations would be made available... The Guardian   Forget Ukraine: European Energy Companies Starving for Business in Russia A set of agreements reached by Gazprom with some of Europe’s biggest energy companies during the recent Eastern Economic Forum in Vladivostok proves that European companies plan to continue working in the country... Sputnik International   Regulatory worries, energy prices take shine off Shell-BG deal A look at valuations illustrates how regulatory concerns and stubbornly low energy prices have stoked investor anxiety over Royal Dutch Shell’s (RDSa.L) planned takeover of British rival BG Group (BG.L). Hailed as an audacious and industry-changing merger when it was unveiled in April, the headline value of the deal has slipped from 47 billion pounds ($72 billion) to around 38 billion because of the lower price of Shell shares, which closely track oil prices... Reuters   Europeans allowed to sue over privacy breaches in new EU-US data agreement EU citizens will now be able to sue over data misuse in American courts, as part of a new agreement on data security between the EU and US. It follows years of concern over the reach of the US National Security Agency... Deutsche Welle   Patel agitation may cost PM Modi NRI community’s support Like Patel migration, the fire of Patel discontent too have reached the US shores. The Patidar reservation stir is threatening to singe the NRI community’s hero, Prime Minister Narendra Modi, when he lands in Silicon Valley in the US later this month. The Patels may also demand reimbursement of money they collected for Modi’s Madison Square Garden event... Economic Times   EU approves US takeover of French engineering giant After a six-month competition probe, the European Commission approved Tuesday (8 September) the acquisition of France’s Alstom by General Electric (GE) of the US. The €12.5 billion deal “would not harm effective competition on EU markets” after GE agreed to sell off parts of Alstom’s heavy duty gas turbines business to Italian company Ansaldo, competition commissioner Margrethe Vestager said at a press conference in Strasbourg... EUObserver   ECB Asset Buying Slows to Weakest Under QE in Summer Lull The European Central Bank’s asset purchases last month slowed to the weakest since quantitative easing started in March as liquidity dried up during Europe’s summer holiday period... Bloomberg   Seven years of global financial crisis The collapse of the investment bank Lehman Brothers on 15 September 2008 following a fatal misjudgment by the US government that it was not big enough to warrant a bailout rapidly morphed into a credit freeze in interconnected global financial markets. A global recession followed... Livemint   China’s Response to Stock Plunge Rattles Traders The police have been dropping in on investment firms and downloading their transaction records. Senior executives at China’s biggest investment bank have been arrested on suspicion of illegal trading. A business journalist has been detained and shown apologizing on national television for writing an article that could have hurt the market... New York Times

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