Moscow is expecting Kiev to clarify whether the latter is going to honor Ukraine's international commitments made by the previous authorities, including the $3 billion debt to Russia, after President Poroshenko dubbed it a "bribe" to Viktor Yanukovich. “In the first place, we are expecting some kind of explanations on whether the current Ukrainian authorities are planning to reject their stat [...]

The crisis and chaos engulfing the Middle East and Ukraine is evidence of US imperial decline, as Washington learns the harsh lesson that no empire lasts forever. In the wake of the Vietnam War - the end of which was marked by news footage of US personnel and a select few Vietnamese collaborators being evacuated from the roof of the US Embassy in Saigon in 1975 - the United States entered a pro [...]

International Monetary Fund representatives have cut short negotiations with Greek officials in Brussels, after they failed to present a viable reform plan. The move has left Athens, due to repay €1.6 billion by the end June, on the edge of default. “The ball is very much in Greece’s court,” IMF spokesman Gerry Rice told the media during a specially scheduled announcement, before his te [...]

A massive march took place in the streets of Kiev to protest against the policies of the current Ukrainian government, calling for its resignation and economic reforms. According to TASS news agency, up to 3,000 people took to the streets in Kiev on Saturday to protest against lack of reform and economic instability. [...]

The Russia-led Shanghai Cooperation Organization is gaining more weight with a dozen new nations showing interest in cooperation, President Vladimir Putin said at a meeting with foreign ministers of the bloc. “Other countries would like to strengthen their contacts with our organization. [...]

The euro fell to a two-week low on Wednesday following a Greek government warning that it will miss the June 5 IMF payment deadline without a deal with the Troika by then. The single currency traded at $1.1115, down 0.4 percent at 11:36am MSK on Wednesday. It declined 0.71630 against the British pound and 134.34 against the Japanese yen. [...]

Britain has been labeled the "European capital of inequality" after a report found it is the most unequal country in the EU. As part of a progressive study, the European Foundation for the Improvement of Living and Working Conditions (Eurofound) analyzed wages across the EU. [...]

The Central Bank of Russia is taking effective steps to stabilize the national currency and the economic situation as a whole, according to the Deputy Managing Director of the International Monetary Fund (IMF) Min Zhu. “I think the Russian Central Bank is reacting adequately to the current situation,” the banker said at a conference on doing business with the BRICS countries in Washington o [...]

Ukraine's government has submitted to parliament a bill allowing the introduction of a moratorium on foreign debt payments. This is to protect state assets in case of an "attack" from dishonest lenders, and to help the ailing economy out of crisis. "To protect the interests of the Ukrainian people, the Ukrainian government today has introduced to the Rada a bill that would give the government t [...]

The UK'S richest 20 percent have more than one hundred times the wealth of the poorest 20 percent, with the combined household wealth of £9.1 trillion remaining for the most part in the hands of the elite. New analysis from Lloyds Bank Private Banking revealed that if the combined household wealth was evenly distributed, each family in Britain would have an annual income of £326,414. [...]

From Afghanistan to Yemen we are told we must fight terrorism over there to keep us safe here at home. The historical record tells us a very different story. Washington’s so-called war on terror has only created and motivated more violent extremists and destroyed states. As a result of failed wars, terrorism flourishes around the world. CrossTalking with Phyllis Bennis, Bruce Fein, and James [...]

This is a fascinating story with implications for every American… Dr. Ron Paul–the former U.S. Presidential candidate and 22-year Congressional veteran–was briefly back in Washington, D.C., recently. Dr. Paul was in the nation’s capital to educate Americans on what he believes our country’s next financial crisis will look like. He says America is on the verge of a real “currency [...]

Ukraine has the fastest falling economy of 2015 according to the British periodical The Economist. The country has seen its GDP shrink by 6.5 percent since last April, with countries like Libya and Macau performing better. The Ukrainian economy showed the most significant deepening recession compared to the rest of the world, according to the data, published on Wednesday by the head of the anal [...]

The evidence is mounting... While broadly-speaking, both 'hard' and 'soft' macro data has disappointed, as we noted previously, the scale of those 'missed expectations' is stunning - worst since Lehman. While this is blamed on weather, the fact is that America had 30% less snow this year than last and still, as the following charts strongly suggest, the YoY drops are on a scale that screams "reces [...]

German Chancellor Angela Merkel believes that a free trade zone with Russia is possible in the future, despite the current political tensions with the West. “In the long view it is possible to create a large free trade zone, including with Russia,” Merkel said at Friday’s economic forum in Stralsund. [...]

Some European central banks have reportedly called on Greek bank subsidiaries operating in their jurisdiction to cut their exposure to Greek assets to avoid fallout should the country go into default. The central banks of Albania, Bulgaria, Cyprus, Romania, Serbia, Turkey and the Former Yugoslav Republic of Macedonia have demanded Greek banks’ subsidiaries minimize their exposure to Greek bon [...]

The laws of the global economy should be written by the United States and not by the likes of China according to President Obama, as concern over China's influence is growing. Washington hopes a Pacific free trade pact will curb Beijing's investment bank. "When 95 percent of our potential customers live abroad, we must be sure that we are writing the rules for the global economy, not a country [...]

The BRICS New Development Bank and the Asian Infrastructure Investment Bank (AIIB), both seen as alternatives to US – led institutions, will not compete, but rather complement each other, said the head of the Central Bank of Russia Elvira Nabiullina. Nabiullina made the statement Thursday in Washington where she is attending the spring meetings of the International Monetary Fund and World Ban [...]

A third of higher income Americans are living paycheck-to-paycheck, even when they earn $75,000 a year because they would rather spend money on eating out and experiences than save money for retirement, according to a new survey. In a poll of 519 households earning $75,000 or more, nearly a third of them live paycheck-to-paycheck, at least some of the time, SunTrust Bank found. [...]

Rogue investors who ignored the negative hype about Russia, are smiling from ear to ear after the ruble gained about 6 percent this week. The ruble surged 6 percent this past week, opening Monday at 56.55 and closing at 53.5 on the Moscow Exchange on Friday. In the last month alone, the ruble has appreciated by more than 20 percent. [...]

The Russian ruble has hit 55.3 to the dollar Monday, its highest value this year. The currency has become the best performer during the first three months of the year, after it finished 2014 as one of the biggest losers. The ruble gained above one percent against the US dollar, standing at 55.3 and at 60.8 to the euro at the closing on Moscow Exchange on Monday. [...]

Athens is currently trying to negotiate a new bailout deal with its Troika of creditors, but if that falls "Plan B" could reportedly involve getting rid of the euro and cutting off its banking system from the European Central Bank. [...]