If Greece defaulted, the German people would discover instantly that a large sum of money committed without their knowledge and without a vote in the Bundestag had vanished By Ambrose Evans-Pritchard The political detonating pin for Greek contagion in Europe is an obscure mechanism used by the eurozone's nexus of central banks to settle accounts. If Greece is forced out of the euro in[...]
Tag: European Union
Ukraine “Truce” Fails: Withdrawal Deadline Passes, Debaltseve Situation Deteriorating
UPDATE: *POROSHENKO SAYS UN MUST NOT ALLOW FULL-SCALE WAR IN EUROPE As the game of chicken between Greece and the Eurogroup hots up, it appears another - potentially far more deadly - is escalating in Ukraine as neither side is willing to follow through on the terms of the Minsk Summit peace deal - removing heavy weaponry from the frontlines - as a key deadline passes without agreement. As The[...]
Big Bang is Clearly in Play – Dominoes Starting to Fall in Debt Markets
by Martin Armstrong Armstrong Economics Just in case if you have not seen this, Big Bang is clearly in play. The dominoes are starting to fall! Obviously, bearish for the Euro broader-term, but will be interesting to see how the peripheral debt trades tomorrow. The ECB Press release emerged on a waiver of collateral regarding Greek Bonds. The Governing Council of the European Central Bank (ECB) [...]
The Political Union of Europe Has Failed – Martin Armstrong
The entire vision that a United States of Europe would prevent war has proven to be just another academic theory gone seriously wrong. Brussels has been fighting against any opportunity for the people to vote on exiting the Euro from Scotland down to Spain and Italy. They could not prevent a democratic election where the party had an agenda rather than a vote on the issue directly. The idea of[...]
Paul Craig Roberts – This New Crisis Is Worse Than Russia Unleashing Black Swans Against The West
Today Dr. Paul Craig Roberts warned King World News that this latest and developing crisis is even worse than Russia unleashing black swans against the West. Dr. Roberts also discussed how a series of falling dominos will result in the breakup of Europe, the collapse of NATO, and the end of the euro. Eric King: “What do you expect to see going forward? Because it now appears that we are[...]