Posted by seumasach on June 18, 2013
“It’s hard to bet against the euro,” said Sam Katzman, chief investment officer for New York-based Constellation Wealth Advisors, which invests about $5 billion in various funds on behalf of clients. “Until we stop printing money in the U.S., or they start, the wind is at the back of the euro.”
I rest my case
16th June, 2013
The euro is emerging as an unlikely oasis in the latest bout of market turmoil.
Posted in Battle for Europe | Tagged: euro v. dollar, join the euro! | Leave a Comment »
Posted by seumasach on May 25, 2013
EU Weighs Curbs on Banks’ Use of Client Assets as Collateral
24th May, 2013
Banks and brokers face a clampdown on using assets they hold for clients as collateral for their own trades as part of European Union moves to bolster market stability and rein in shadow banking.
Posted in Battle for Europe, Financial crisis | Leave a Comment »
Posted by seumasach on March 31, 2013
“We want to reach a situation where taxpayers no longer have to pay for the banks,” said a spokeswoman for Barnier Tuesday.
Amidst the near universal condemnation of the Cyprus “bailout” it is necessary to point out that it is not a bailout. A bailout is what happened in the UK in 2008 when massive amounts of public money were given to banks without conditions. The Cypriot banks have not been indulged in this way: one of them no longer exists and the other has been completely restructured. Behind all this is the strategic thinking of Michel Barnier: nemesis of Anglo-Saxon finance.
27th March, 2013
(BRUSSELS) – The Cyprus debt rescue and its ‘bail-in’ provision to make large bank depositors pay part of the cost is largely in line with European Commission plans to ensure taxpayers no longer carry the can when banks fail.
Posted in Battle for Europe | Leave a Comment »
Posted by seumasach on March 26, 2013
It’s either the banks or the real economy and Europe has just outlined a new approach completely divergent from that of the Anglosphere. In US/UK the survival of the banks is a categorical imperative and the means to achieve this is bailout without end via QE or money-printing. This statement from Europe signals that the banks are to allowed to go under or rather, implicitly, a new banking system, Euroland regulated and subordinate to general economic development is to created. This is a welcome development and any Anglo-Saxon schadenfreude regarding the inevitable pain accompanying it will prove to be misplaced. The QE approach is painless only to the banks: it has already seriously depleted deposits and can only lead to falls in both the pound and the dollar with devastating consequences for economies based on importing essential goods.
Cyprus bail-out: savers will be raided to save euro in future crises, says eurozone chief
25th March, 2013
The new policy will alarm hundreds of thousands of British expatriates who live and have transferred their savings, proceeds from house sales and other assets to eurozone bank accounts in countries such as France, Spain and Italy.
Posted in Battle for Europe, Financial crisis, UK economy | Tagged: bankrupt Britain, dollar collapse, failing banks, stop the bailout | Leave a Comment »
Posted by seumasach on March 21, 2013
John Helmer
21st March, 2013
MOSCOW – The United States, Germany, Turkey and the North Atlantic Treaty Organization allies think they have almost all the ordnance required to produce regime change in Syria, as they had in Libya. But they don’t appear to have the 5 billion euros (US$6.5 billion) required to do the trick in Cyprus, after the regime change the Cypriots themselves had voted into power a month ago.
Posted in Battle for Europe | Tagged: Russian diplomacy | Leave a Comment »
Posted by seumasach on March 6, 2013
If bankers leave the country, it would be no loss
Simon Jenkins
6th March, 2013
The peasants are revolting across Europe. They want bankers’ blood and mean to get it. Until now, public response to the credit crunch has been one of general bafflement and wrist-slapping. The banks persuaded the world it was all an act of fate. As it was, they were too big to fail and their leaders too saintly to atone for it. For four years, British banks were showered with nearly half a trillion pounds of public and printed money. They duly recovered and stayed rich, while everyone else went poor.
Posted in Battle for Europe, UK economy | Leave a Comment »
Posted by seumasach on March 5, 2013
Olaf Cramme, director of Policy Network, a think tank sympathetic to his center-left Labour Party. Labour’s leader Ed Miliband is a “Continental European Social Democrat” with fundamental sympathies for bonus caps and the redistribution of wealth
First hint of a move in Britain’s sclerotic political class?
Excess Under Siege: Europe Gains Momentum against Corporate Greed
4th March, 2013
Moves to contain salary excesses in big business by the EU and Switzerland have emboldened social democrats across Europe, who are calling for battle against greed in a financial world “gone wild.”
Posted in Battle for Europe | Leave a Comment »
Posted by seumasach on February 28, 2013
UK has been battling to stop the Basel III accord on capital requirements, fearing the impact on the City of London as the EU’s leading financial capital.
City of London interests- that’s what our anti-European stance is really about
28th February, 2013
European Union chiefs have agreed a package of financial laws that includes capping bankers’ bonuses at a maximum of one year’s basic salary.
Posted in Battle for Europe, UK economy | Leave a Comment »
Posted by seumasach on February 18, 2013
Justin Raimondo
18th February, 2013
I write this on February 17, the fifth anniversary of Kosovo’s “independence.” I’m putting the word in scare quotes because Kosovo is anything but an independent nation: it is, in reality, dependent on NATO, the European Union, and the US for the most basic functions of a state: keeping order and maintaining a judicial system. A multinational force known as KFOR, numbering some 6,000 troops – including 1,447 American soldiers – keeps a semblance of order in the former Serbian province, if one interprets the word “order” quite loosely.
Posted in Battle for Europe | Tagged: Kosovo | Leave a Comment »
Posted by seumasach on February 16, 2013
Hague’s “never say die” approach is increasingly out of line with international opinion which understands that the Syrian rebels are losing and haas no illusions about a “moderate opposition”. Anyway here another reason for us to oppose Europe: they are inhibiting our sponsorship of international terrorism!
15th February, 2013
British and French attempts to lift the EU arms embargo that is hampering the flow of weapons to Syrian rebels fighting President Bashar al-Assad are being blocked by powerful states including Germany.
Posted in Battle for Europe, Syria | Leave a Comment »
Posted by seumasach on January 25, 2013
Germany, France and nine other EU countries approved tax on financial transactions
25th January, 2013
The Times reported that EU finance ministers gave their blessing to the scheme, which will apply to anyone in the 11 countries who makes a bond or share trade or bets on the market using derivatives.
Posted in Battle for Europe | Tagged: financial transactions tax(FTT) | Leave a Comment »
