Hazy ‘breakthrough’ saves PM May, leaves Ireland in limbo: Brexit

With only a couple of hours sleep in the very early hours of last Friday, the British PM Theresa May boarded a RAF aircraft and landed in Brussels before dawn. Weary as she was, she rushed to Berlaymont building, the EU Commission headquarters. There she met Jean-Claude Juncker the President of the European Commission and […]

Trump: Hostile to Europe, voids Tillerson’s “ironclad” ally pledge

At the end of last week, Rex Tillerson, the US State Department Secretary was intentionally undermined by President Donald Trump. This surprise move from the White House came only hours after the former gave an “’ironclad’ promise of U.S. support to its oldest allies in Europe”. To undercut this pledge, the White House leaked information […]

EU’s unsparing question to UK: now what kind of future relations do you want?

This week, the countdown starts for Britain to offer final answers, about the three Brexit prerequisites: the divorce alimony, the future of the 4.5 million European citizens who work on the wrong side of the English Channel and the Irish border. Only then will Brussels pass to the second phase of the talks, to discuss […]

A long German political winter is on the way

Germany enters into a long period of political uncertainty. The ‘Grand Coalition’ of the conservatives (Christian Democratic Union/Christian Social Union) and the Social Democrats of SPD, which can offer a stable government, may take months to form. Then, even after fashioned, it will not function without friction, as  used to be the standard for Germany. […]

Britain offers more money for an orderly Brexit but the Irish question resurges

If last Friday’s Reuters report from Brussels is correct and Theresa May and Donald Tusk agreed to solve the Brexit dead-end in ten days, then the wild Brexiteers must have retreated  and the orderly exit side has won the first round. Tusk, the President of the European Council said in a tweet that he told […]

Germany not famous for easy way outs from political stalemates

And now ‘Frau Bundeskanzlerin’ what? The truth is though whatever the future holds for the German political landscape, is no good. Chancellor Angela Merkel’s failure last weekend to form a government, with a viable parliamentary majority has irreparably stained the so far pristine scenery of the country’s politico-economic affairs. The unsuccessful attempts to convince liberal […]

Do the giant banks ‘tell’ Britain to choose a good soft Brexit and ‘remain’ or else…?

It may be true that the world is tired watching Britain being completely confused about choosing the way to exit from the European Union. Yet, the almost schizo division plaguing the Brits and their political elites alike still paralyzes to this date the divorce negotiations. Countries to be most affected by Brexit like Holland are […]

Banks, insurance giants are free again to abuse the real economy

Not many years after the financial meltdown of 2008-2010, the main culpable parties for that global catastrophe, the big banks and the gigantic insurance companies are now commandingly asking the world to forget that. They demand to be again left completely unchecked, free to repeat what they did then; inflate all and every market to […]

Destabilizing Lebanon after burning Syria; plotting putsch at home: King and Crown Prince of Saudi Arabia

Last week the Crown Prince of Saudi Arabia Mohammed bin Salman, son of King Salman placed the Prime Minister of Lebanon, Saad Al-Hariri under house arrest in Riyadh and forced him to resign his premiership. The Sunni Lebanese premier has a double citizenship, Lebanese and Saudi Arabian. His family has extended business interests and wealth […]

A neo-liberal toll free Paradise for the super rich and tax hell for wage earners

Despite the hullaballoo in main stream media about Queen Elizabeth’s investments in tax-havens and the implication of the US Trade Secretary Wilbur Ross in a Russia related offshore firm, the shocking revelation in the Paradise Papers is that London appears as the largest money washing machine of the world. The biggest single disclosure is that […]

Fed, ECB take positions to face the next global financial crisis; the Brits uncovered

The appointment of Jerome Powell as the next head of the US central bank, the famous Fed, is a reassurance to the financial world that the giant lenders will continue being favored by ample and very cheap money. Last Thursday, Donald Trump, the American President didn’t dare to change the cautious approach to monetary policy. […]

Catalonia secessionist leader takes Flemish ‘cover’; Spain risks more jingoist violence

The Catalonia crisis and the aftermaths after its diffusion can offer valuable lessons for the nature of jingoist politics and the motives, goals and the character of its main actors, on both sides of the fence. The Catalan secessionists led by Carles Puigdemont proved experts in setting the fire, but were incapable of making anything […]

Extra mild ECB tapering of QE and zero interest rates keep euro low

Last Thursday, Mario Draghi, the President of the European Central Bank performed again his superb balancing act, between the needs of the South and the demands of the North. He led the Governing Council of ECB, Eurozone’s most powerful body, to map the exit road from the extraordinary monetary measures (Quantitative Easing) state as frictionlessly […]

Czech Babis, Austrian Kurz and others threaten Europe with nationalist populism

Andrej Babis, a media magnate and second wealthier Czech leading his anti-immigration, nationalist and populist ANO party, won last Sunday’s election, with around 30% of the vote. He is to become the next Prime Minister of the Czech Republic. Babis did that on an anti-systemic Trump-like ticket. He was recently implicated in a tax fraud […]

The 27 EU leaders did nothing to help May unlock the Brexit talks

President Abraham Lincoln has said “when someone says it’s a matter of principles not money, then it’s a matter of money”. This famous saying was flagrantly confirmed last week in Brussels, when the 27 EU leaders – with Angela Merkel and Emmanuel Macron prominent amongst them – made it clear to Theresa May she has […]

Chauvinism and xenophobia will lead to global assertiveness and more wars

The immigration crisis of 2015 in Europe exposed the hollowness of the political system of the new millennium in the Old Continent, anguishing to cover the huge social cavities the economic neo-liberalism has created. Unfortunately, economic neo-liberalism didn’t lead to political liberalism, but instead to chauvinism, xenophobia and the insurgence of the extreme right wing […]

Trump’s pounding of Iran less harsh than expected, leaves arrangement open

Trump did again what he has been good at. This time he pounded the non-nuclear proliferation agreement with Iran. To be reminded, this was the P5+1 nations (US, Russia, China, Britain, France and Germany) agreement of 2015 with Iran , by which the latter country accepted to stop its nuclear program and be duly inspected […]

Britain, EU take edgy steps to unlock Brexit talks as the war of words rages

Last Monday the British Prime Minister Theresa May told the lower house of the Parliament, The Commons a no-deal Brexit is not ruled out. She clarified also that the government ‘is planning for all eventualities”, including the possibility the UK sails after Brexit as an “independent trading nation”. Then she concluded “The ball is in […]

Brexit: The Conservative Party drives the UK and Europe to a perilous road

The Tories, the governing party of Britain is falling apart, being deeply divided about the kind of Brexit their country should pursue. It’s not the disastrous political circumstances of Prime Minister Theresa May that blocks the negotiations with the European Union, but the chaos dividing the hard Brexiteers from their colleagues preferring a smooth partition […]

A jingoistic Spanish ‘war’ from the past

“Patriotism is the last refuge of a scoundrel” Samuel Johnson wrote in the 18th century and unfortunately history keeps justifying this early political essayist. During the last few days, the Catalan separatists and the Iraqi Kurds held referendums to declare national independence, which were not at all needed. Both regions have as much self-governance as […]

Brexit: PM May must hush Boris Johnson to unlock the negotiations

Last Thursday night in Tallinn, the Estonian capital, the French President Emmanuel Macron, backed by the German Chancellor Angela Merkel, told the British Prime Minister Theresa May, there will be no change in the agenda of the Brexit talks; first the terms of the divorce will be agreed and then the future trade relations between […]

German political spillovers: ECB’s Draghi resists first attacks by AfD

Last Monday, Mario Draghi, President of the European Central Bank, speaking at the Economic Committee of the European Parliament had the opportunity to test the grounds and familiarize himself with the nature of political climate he may come across after the German elections. He had a heated exchange with the head of the AfD group […]

Elections results: Austerity’s black to prevail in the new multicolored German government

During the past ten years, Germany has become a politically boring country and yesterday’s election is not going to change that, despite the loss of around one million votes for the Chancellor’s party. Angela Merkel’s win came to none’s surprise and the results permit her to embark on a fourth term in the top job. […]

The EU Commission vies to screen Chinese investment in Europe

Last week, Jean-Claude Juncker, the head of the powerful European Commission, the executive arm of the European Union, announced a plan to screen foreign investments. The idea is to hold back or even effectively block business acquisitions or other investment plans financed by third country companies, in key sectors allegedly considered to be sensitive from […]

The EU stops being soft with 10 Downing Street about Brexit

After the failed successive meetings about Brexit between the European Union and the British negotiation teams, the European Commission decided to stiffen its position. Last week EU’s executive arm issued a Press Release saying, “As it was a UK’s decision to leave the EU, it’s a UK’s responsibility to propose solutions…”. One of the most […]

Draghi’s 2018 compromise: enough money printing to revive inflation and check euro ascent

Last Thursday Mario Draghi, the President of the European Central Bank, reassured the Eurozone banking conglomerates they will continue being blessed with zero cost money, well into the foreseeable future. He stated, “one thing is clear; the bottom line is that interest rates will stay, as it’s written here, at the present levels (zero for […]

Brexit: Britain and the Continent fighting the battle of Waterloo again

The British Prime Minister Theresa May is amidst an agonizing effort to put together a decent package of trade deals or at least initial and relevant MOUs for the after Brexit era. The obvious reason for that is to convince the Brits and the Parliament that her country will survive after March 2019, in case […]

Is euro to repeat its past highs with the dollar?

The strengthening of the euro vis-à-vis the US dollar is taking alarming proportions, puzzling markets and the European Central Bank. The Eurozone single currency has gained 14% from the beginning of the year, with the tempo of appreciation accelerating. It gained around 10% during the summer. For around three years, the ECB has been following […]

Yellen and Draghi tell Trump and markets not to expedite the next crisis

The disappointment of financial markets with the lack of hints about monetary policy from the Jackson Hole gathering of central bankers is understandable. Both Janet Yellen, US Federal Reserve System Chair and Mario Draghi, the European Central Bank President while keeping their policy guidelines unchanged, choose to forcibly attack the demands of bankers – supported […]