Tag Archives: Europe

The Cost of Terror in Brussels

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“This prolonged state of insecurity has had a negative impact on the economic and social life of the capital. The most overt statistics pertaining to touristic activities, social outings, and public gatherings show a general change in the perception of the city and an overall evolution in the local mood.  The enhanced presence of military personnel in the streets of Brussels as well as the ongoing discourse over the current will of terrorist organisations to target the capital led to a mood change among the local population. The fear of potential attacks is playing as a long-term obstacle to private expenditures, tourism and the participation in major public social events.”

http://globalriskinsights.com/2016/01/the-cost-of-terror-in-brussels/

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The Deceptive Debate Over What Causes Terrorism Against the West

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“By pointing out the causal connection between U.S. violence and the decision to bring violence to the West, one is not denying that the attackers lack agency, nor is one claiming they are ‘forced’ by the West to do this, nor is one ‘infantilizing’ them. To recognize this causation is to do exactly the opposite: to point out that some human beings will decide — using their rational and reasoning faculties and adult decision-making capabilities — that violence is justified and even necessary against those who continually impose violence and aggression on others ”

https://theintercept.com/2016/01/06/the-deceptive-debate-over-what-causes-terrorism-against-the-west/

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Trump warns UK that banning him would be an economic mistake

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“Donald Trump is making good on his promise to ‘counterpunch’ anyone who crosses him — even if it means taking on the entire United Kingdom.  The United Kingdom’s proposed Donald Trump ban arose after Trump’s widely criticized call for a Muslim ban in the United States.  A petition circulating in the U.K. has earned more than 560,000 signatures calling for Trump to be turned away from Britain’s borders.  The Trump Organization warned that were the U.K. to take any action against its namesake, it would ‘force The Trump Organization to immediately end [investments in Turnberry] and all future investments we are currently contemplating in the United Kingdom.'”

http://theweek.com/speedreads/597743/trump-organization-warns-united-kingdom-that-banning-donald-trump-mistake

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EU Unveils Border Control That Will Act “Even If A Government Objects”

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“Brussels is to propose the creation of a standing European border force that could take control of the bloc’s external frontiers — even if a government objected.  The move would arguably represent the biggest transfer of sovereignty since the creation of the single currency. The blueprint represents a last-ditch attempt to save the Schengen passport-free travel zone, by introducing the kind of common border policing repeatedly demanded by Paris and Berlin. European leaders have discussed a common border force for more than 15 years, but always struggled to overcome deep-seated objections to yielding national powers to monitor or enforce borders.”

http://www.zerohedge.com/news/2015-12-10/ft-shocker-eu-unveils-standing-border-force-will-act-even-if-government-objects

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You Can’t Argue With a Sick Mind …

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“We have experienced two general strikes in the past three weeks. This is the first time we have seen general strikes in Greece since Tsipras came to power in January. What is even stranger is that the strikes are being organized by Tsipras’s own party … Syriza, to protest its own government.  Few actual steps have been taken to implement the list of EU demands, except for raising the VAT to 23%, further strangling an economy that is on its last breath. The banks successfully completed a capital raise of €14.4 billion.  Now that the banks have raised their funds, they are finally [admitting] just how bad the NPL problem really is.”

http://www.huffingtonpost.com/david-c-wittig/you-cant-argue-with-a-sic_b_8891412.html

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Greece passes more spending cuts, tax hikes after third EU bailout

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“The approved budget makes 5.7 billion euros ($6.2 billion) in spending cuts and gathers 2 billion euros in higher taxes. The cuts include 1.8 billion euros from pensions and 500 million from defense.  There have been strikes by public and private workers over the austerity and restructuring reforms sought by the EU as part of the financial bailout aimed at keeping Greece in the eurozone.  Greece’s debt is forecast to grow to 327.6 billion euros or 188 percent of gross domestic product (GDP) from 180% in 2015. Tsipras, who came to power in January promising to defend Greeks from EU-imposed cuts and was then re-elected in September, described the budget’s passage as a ‘difficult exercise.'”

http://www.dw.com/en/greek-parliament-narrowly-approves-tough-budget-with-spending-cuts-and-tax-hikes/a-18897432

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Finland Should Never Have Joined Euro, Foreign Minister Says

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“With the northernmost euro member now set to become the bloc’s weakest economy, the question of currency regime continues to resurface as Finland looks for explanations for its lost competitiveness.  The comments come as a former foreign minister gathers signatures in an effort to force the government to hold a referendum on euro membership. While polls still show most Finns don’t want to go through the process of exiting the currency bloc, there are signs that a plurality of voters think they would be better off outside the euro. Finland will be the weakest EU economy by 2017, when it will grow at less than half the pace of Greece, according to the European Commission.”

http://www.bloomberg.com/news/articles/2015-12-22/finland-should-never-have-joined-euro-foreign-minister-says

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In Copenhagen, Apartment Prices Jump 60% After Rates Go Negative

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“Denmark’s biggest mortgage bank says there’s a ‘real risk’ Copenhagen is heading into a property bubble.  Property prices in Copenhagen have risen 40-60 percent since the middle of 2012, when the central bank first resorted to negative interest rates to defend the krone’s peg to the euro. The benchmark deposit rate has been minus 0.75 percent since February as Denmark’s currency war intensified, and most analysts surveyed by Bloomberg see negative rates lasting at least through 2017.  The Danish regulator this month warned Danske Bank against pursuing a growth strategy in Sweden as the housing market there shows signs of imbalances.”

http://www.bloomberg.com/news/articles/2015-10-21/60-house-price-surge-in-copenhagen-adds-to-bubble-drum-beat

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Norway to Start Withdrawals From Oil Fund to Plug Deficits

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“Norway predicts it will for the first time need to withdraw cash from its $820 billion sovereign wealth fund as western Europe’s biggest oil exporter uses a record chunk of its petroleum revenue to cover budget holes and stimulate the economy. Tapping the fund to cover budget needs comes at a time when the managers of the fund, set up to safeguard the wealth of future generations, warn that it also faces diminished returns amid record-low interest rates. The government said it will spend 4 billion kroner on a jobs plan and cut or hold income taxes for nine out of 10 people. It’s lowering the corporate tax rate to 25 percent from 27 percent and aims to cut it to 22 percent by 2018.”

http://www.bloomberg.com/news/articles/2015-10-06/norway-budget-proposes-boosting-oil-spending-by-14-nrk-says

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The Trouble With Sovereign-Wealth Funds

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“The world’s sovereign-wealth funds together have assets of $7.2 trillion, according to the Sovereign Wealth Fund Institute, which studies them. That is twice their size in 2007, and more than is managed by all the world’s hedge funds and private-equity funds combined, according to J.P. Morgan Asset Management. The number of funds tracked by the Institute of International Finance is up 44% to 79 since the end of 2007. Nearly 60% of sovereign-wealth-fund assets are in funds dependent on energy exports. Now, some funds are shrinking or are being tapped by governments as oil revenues fall. That is forcing them to borrow or sell investments, potentially pressuring global markets.”

http://www.wsj.com/articles/the-trouble-with-sovereign-wealth-funds-1450836278

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