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Argentina Declared in Default – Warning to Ukraine

Actually Argentina has defaulted on its foreign debt. Such things happen in the contemporary world, the country has become a victim of financial vultures and the so-called legal imperialism of the United States... Argentina is the best illustration of how the legal imperialism works... On July 31 Ukraine’s Prime Minister Yatsenyuk made a loud-voiced statement. «The first major economic news today is that Argentina went into default», he told lawmakers. «And the second is that Ukraine didn’t default, and it never will». Perhaps he pins his hopes on the US sponsors. There is little ground to believe that Washington will grant billions (or even dozens of billions) to have the Ukraine’s debt restructured. Brussels will hardly lift a finger to help because the plight of the European Union is quite comparable with the debt problems faced by Ukraine...

Valentin KATASONOV | 03.08.2014


 

The financial perils of the eurozone

Until recently European leaders were still making cheerful claims that the EU’s economic recovery was finally at hand and that the euro zone was safely out of the woods. But no one’s saying that anymore. In the first quarter of 2014, GDP in the eurozone averaged only 0.2% growth - only half as much as was expected. Germany has fared slightly better with a 0.8% increase in GDP, as have Belgium and Spain (which both gained 0.4% in the first quarter of this year). The situation in other eurozone countries looks far more grim. France recorded zero growth, GDP in the Netherlands shrank by 1.4%, in Greece by 1.1%, in Cyprus and Portugal by 0.7%, in Finland by 0.4%, and in Italy by 0.1%...

Vladimir NESTEROV | 23.06.2014


 

European Politics Will Be Different From Today On

The European Parliament election made Eurosceptics big winners. The never relenting obsession to make Ukraine break up with Russia has started to undermine the fragile basis of European security allowing nationalists and isolationists make significant gains. The Petro Poroshenko’s victory in Ukraine with ultra right and nationalists gaining more seats in parliament changes the correlation of forces inside the European Union and affects the EU-Kiev-Moscow relationship. Ukraine became consolidated around an oligarch while the European parliament has internal divisions exacerbated. «European politics will be different from today on», said Doru Frantescu, policy director and co-founder of VoteWatch Europe, an independent Brussels-based organization that tracked opinion polls in the run-up to the elections...

Pyotr ISKENDEROV | 30.05.2014


 

EU-Ukraine Trade Deal Paves the Way for Brutal Economic Austerity. IMF to Apply “The Greek Model”

Amid intensifying US and European Union sanctions and military provocations against Russia, the EU and the Western-backed government in Ukraine yesterday signed a pact that paves the way for brutal austerity measures and free market “reforms.” The EU-Ukraine Association Agreement is based on the deal that former President Viktor Yanukovych’s Ukrainian government rejected, leading to the US- and EU-instigated protests and violence that ousted him last month.

EDITOR'S CHOICE | 23.03.2014


 

A Europe of Paupers

...In Brussels, they are hoping that their forced entry into the markets of the Eastern Partnership’s post-Soviet countries (primarily Ukraine), through the creation of free trade zones with these countries and a restriction of their economic sovereignty, will enable Europeans if not to save their worsening situation, then at least to postpone the social misfortunes drawing nearer the countries of the European Union...

Vladimir NESTEROV | 25.11.2013


 

Greece: A Social Explosion Is Inevitable

...Greece, with its enormous external state debt, is being driven between Scylla and Charybdis: on the one hand, the European Union is threatening Athens with harsh measures if the plan for privatizing large objects of Greek property breaks down; on the other hand, it is hindering privatization deals with the «wrong» partners, first and foremost with Russia, sabotaging possibilities for the recovery of the Greek economy...

Anna FILIMONOVA | 18.08.2013


 

The European Union and Greece: the Murder of a Nation

Once the level of Greece’s external debt and the impoverishment of a significantproportion of the population had gone off the scale, the global corporatocracy began buying up Greek territory and Greek shares.Greece was destined to become the testing ground for how to lead a country to complete catastrophe. Structural reforms implemented by the Greek government under pressure from the “Troika” (the IMF, European Commission and European Central Bank) acquired an openly coercive nature, while measures to reduce the budget virtually destroyed any prospects for economic growth in the country…

Anna FILIMONOVA | 10.08.2013


 

Discord Mounting in the European Union (II)

Right on time for the conflicts in the European Union at the center of which Germany has found itself comes an IMF report unprecedented in its self-criticism. This report acknowledges the organization's serious mistakes in developing and implementing the anti-crisis program for Greece. In particular, the report documents the unforeseen consequences for the economy of reducing state expenditures when the recession was already underway, excess optimism in assessing the chances of returning the country to the debt market, and delays in restructuring the state debt using private creditors...

Pyotr ISKENDEROV | 24.06.2013


 

EU: «Deposits Trimming» and Geopolitical Model

The European Union has launched a legal procedure to create a foundation for actions aimed at «cutting extra weight» from large deposits in the banks of the Union’s members... For the first time in the Eurozone history the investors are divided into the «reliable» and «risky» groups, and the last ones will have to face confiscations. The cutting away from deposits will be applied only to the troubled banks. As the experience of Greece, Cyprus, and even Spain and Italy shows, no banks are protected from trouble...

Pyotr ISKENDEROV | 01.05.2013


 

Mediterranean: Winds of Change (II)

After a long period, Moscow has returned to the Mediterranean as a sea power. In 2011 it conducted a naval exercise exceeding in scope any training activity since the days of the Soviet Union. The last large-scale drill took place in January 2013 and involved over 20 combat surface ships and submarines from three operational fleets... On February 26 a subsidiary of Russian energy giant Gazprom signed a 20-year deal with Levant LNG Marketing Corp. to exclusively purchase liquefied natural gas (LNG) from Israel’s Tamar offshore gas field in the Mediterranean. Gazprom wants to build up its LNG trading business to diversify away from traditional European customers receiving natural gas via pipelines...

Andrei AKULOV | 21.04.2013




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OUR COLUMNIST
    Mikhail AGHAJANYAN

Turkey, Islamic State and USA

The Turkey’s contemporary Middle East policy is inconsistent. On September 11 in Jeddah (Saudi Arabia) the foreign chiefs of the United States of America, Iraq, Turkey, Egypt, Jordan, Lebanon and the Persian Gulf monarchies declared their intention to “eradicate” the Islamic State. It’s worth to note that Iran and Syria were not among the participants. Just before the event Turkish Prime Minister Ahmet Dovutoglu had held a meeting of the cabinet to announce that Turkey would not take part in ground operations and other actions on the Iraqi soil limiting its role to intelligence gathering and logistics. The decision echoes the country's refusal to allow the United States to station 60,000 troops in Turkey in 2003 to invade Iraq from the north, which triggered a crisis between the two allies.  

19.09.2014
 
 
 
 
 
 
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