Economy

Great Manufacturing Meltdown in Chicago
Every week Max Keiser looks at all the scandal behind the financial news headlines. In this special episode of the Keiser Report from Chicago, Max Keiser and Stacy Herbert discuss the “great manufacturing meltdown” in Chicago. In the second half, Max is joined by Mike ‘Mish’ Shedlock of globaleconomicanalysis.blogspot.c [...]
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BRICS/SCO summits at a glance: New Development Bank, Greece crisis, Iran oil
As the BRICS/SCO summits wrap up in Russia, RT looks back at the issues dominating three days of meetings with a launch of $100bn reserve currency pool, high hopes about the New Development Bank and the possible impact of Iran deal on oil among them. About 10,000 visitors gathered at the two events, the BRICS and the Shanghai [...]
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Greek banks to go bankrupt Monday if no debt deal – FT
As cash withdrawals from Greek banks reach €100 million a day the country’s banking system will end up bankrupt on Monday if no deal with creditors is reached over the weekend, some senior bank executives told the Financial Times (FT) on Friday. Cash withdrawals are at a high rate despite capital controls imposed by the G [...]
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Putin: Where was EU when Greek crisis was evolving?
The European Commission should have adjusted the economic activity of Greece before the crisis, Russian President Putin has said, adding that the EU shouldn't have issued such high bonuses and loans to the debt ridden country. “Of course, all the blame can be shifted to the Greeks. But if there were violations in their [Gre [...]
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“Leave Euro, retake democracy!” Nigel Farage in passionate Tsipras address (VIDEO)
In an impassioned speech, the un-resigned UKIP leader Nigel Farage told Greek Prime Minister Alexis Tsipras to take "courage" and quit the euro after the latest emergency bailout talks broke down. Farage said it was time to “get back control of your country,” adding the banks would “give you no more.” [...]
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TiSA WikiLeaked: Winners & losers of multinational trade deal
WikiLeaks has published secret "core text" related to the controversial trade agreement currently being negotiated behind closed doors between the US, EU and 23 other countries. Big corporations look to be the biggest winners in the deal. Leaked documents of TiSA (Trade in Services Agreement) negotiations reveal that the trea [...]
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Greek debt crisis a threat to UK financial system – Bank of England
The Bank of England (BoE) has warned the Greek debt crisis is a threat to UK financial stability and could trigger wider problems on financial markets. In its twice-yearly Financial Stability Report published Wednesday, the BoE claimed the risks associated with Greece had “worsened” and that the situation “remains fluid [...]
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Austrians launch petition to quit EU
Austrians have launched a petition to quit the EU, arguing that the nation will be better off economically if it leaves the union. To force the national parliament to consider the initiative activists need to have gathered 100,000 signatures by July 1. The petition was started by a retired 66-year-old translator, Inge Rausche [...]
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“Our dignity is no game”: Greece not “visitor”, does not need EU permission for referendum – PM
As an equal member of the EU, Greece does not need to ask permissions from anyone to let the Greek people speak and have their voices heard, PM Tsipras told his parliament, promising that the state's sovereignty and future will be decided via referendum. Referendums have been used all across Europe as a way for people to dire [...]
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Greek debt crisis: Eurogroup shifting towards ‘Plan B’
The Europgroup is now focusing on Plan B over Greece's default and possible exit from the euro, as Athens has rejected the latest creditors' proposals and is going for a referendum on the issue. Prime Minister Alexis Tsipras’ decision to hold a referendum caused a wave of criticism and discontent from the eurozone finance m [...]
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‘F**k US imperialism’: Germany’s ex-finance minister slams defense secretary’s Europe visit
Left-wing German politician and former finance minister Oskar Lafontaine has some harsh language message for US on its politics concerning Russia and Ukraine. He has also called on the EU to oppose Washington. In a Facebook post which cannot be quoted fully quote due to strong language, Lafontaine, whose latest political post [...]
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The IMF: A synchronized snub of Europe
The IMF moving away from supporting Greece while remaining eager to underwrite bankrupt Ukraine underlines the dramatic collapse in EU power. It’s probably because it rolls off the tongue more easily. The phrase ‘poker face,’ I mean. The serious exponents of the art of never giving away the slightest facial tic must sur [...]
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Lifting anti-Russia sanctions now would be politically embarrassing for EU
The situation with the sanctions won't escalate as Russia wants to keep a way open for political dialogue with the EU, said Alexander Mercouris, International Affairs Editor at Russia Insider, adding that Brussels' policy is "wrong" and "failing". The EU is officially extending sanctions against Russia over the crisis in Ukra [...]
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Debt commitment or “bribe”? Moscow, Kiev in war of words over $3bn loan
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 wheth [...]
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“No progress”: IMF walks out of bailout talks with Greece
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 t [...]
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“Impeach Poroshenko!” Massive anti-govt rally held in central Kiev
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. [...]
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“If Syriza goes back on its promises to end austerity, its finished”
A fundamental problem for Greece is that at the end of the day it wants to be in Europe but doesn’t want to have austerity policies, Mark Blyth, professor of political economy at Brown University, told RT’s “In the Now.” Greece has delayed its IMF debt payment until the end of June. [...]
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