Davos: Why the global elites couldn’t find answers this year?

davos

Last January, Donald Trump and Boris Johnson were not invited to Davos to present their populist, anti-systemic, anti-establishment, anti-globalization political platforms. Actually, their ‘ideology’ was exorcised from the Swiss Alps and instead, David Cameron was made the star of the three day 2016 meeting. The world’s super rich and powerful applauded his passionate speech about […]

“China will strive to enhance the performance of economic growth”, President Xi highlights from the World Economic Forum 2017 in Davos

President Xi Jinping at World Economic Forum 2017 in Davos. Copyright by World Economic Forum / Destination: Davos Klosters.

The first day of the World Economic Forum (WEF) began with the opening plenary with Xi Jinping yesterday, President of the People’s Republic of China, monopolizing the interest of the global economic status quo convening these days at the Swiss Alps. This was the first time ever a Chinese President accepts the Davos invite and naturally all the […]

Deutsche Bank chased away from US, threatened with more fines

Davos, Switzerland, 20/1/2016 - Christine Lagarde, Managing Director, International Monetary Fund (IMF) and John Cryan, Chief Executive Officer, Deutsche Bank, captured during the session 'The Transformation of Finance' at the Annual Meeting 2016 of the World Economic Forum in Davos, Switzerland, January 20, 2016. IMF has labeled Deutsche Bank as a major risk to the global financial system. (WORLD ECONOMIC FORUM/swiss-image.ch/Photo Remy Steinegger. No changes made. Only some rights reserved).

The US Department of Justice settled its claims against Deutsche Bank, the biggest German lender, for packaging and selling toxic mortgage securities to uninformed customers prior to the 2008-2010 financial crisis. Initially, the Justice Department had asked for $14 billion, but it seems it settled for a fine of $7.2bn. However, this is not the […]

Trump ostracized by his party and world elites but still remains in course; how can he do it?

May 29, 2016 - Memorial Day. (Gallery Archive, from ‘The Campaign Trail with Donald J. Trump’. Donald J. Trump for President, Inc.).

Four weeks ahead of the American Presidential elections day of 8 November, and the campaign of the Republican Party and its candidate Donald Trump is in unseen before havoc. Most prominent Republicans in one way or another have undermined the prospects of their own contester to win. It’s pretty clear by now that the establishment […]

IMF – World Bank meetings: US – Germany clash instituted, anti-globalization prospects visualized

IMF/World Bank annual meetings in Washington, U.S., October 2016. AM16 CNN Debate on the Global Economy
International Monetary Fund Managing Director Christine Lagarde (L) and German Finance Minister Wolfgang Schauble participate in a CNN Debate Seminar on Global Economy October 6, 2016 at part of the 2016 IMF/World Bank Annual Meetings in Washington, D.C. (IMF Staff Photo/Stephen Jaffe).

This year’s annual meetings of the IMF – World Bank Group in Washington D.C., which kicked off on Thursday 6 October, turned out to be an all out financial war of words between the United States and Germany. In the middle of it stands the battered Deutsche Bank. For a start, there was a confrontation […]

The EU responds to US challenges by fining Apple with €13 billion

Apple logo

Last Tuesday, the White House and the US Treasury in concerted actions issued farfetched statements against the EU Commission. The EU executive’s decision ordered the US giant technology company Apple Inc. to pay additional taxes of up to €13 billion in Ireland. These instant and strong reactions clearly denote that the US sees this Brussels […]

No end to Deutsche Bank’s problems: new litigations in the US and frailty in EU stress test

Deutsche Bank Towers – Walkway from Tower A to Tower B. Headquarters in Frankfurt am Main. (Deutsche Bank Audiovisual Services, August 6, 2015).

Last Wednesday, Deutsche Bank’s shares fell by 4.5% in the first hour of trading in Frankfurt, after the bank released its second quarter results, showing a measly profit of €20 million, in comparison to €818 million last year. The percentage fall of this stock is the biggest ever in such a brief time in the […]

Deutsche Bank slammed by the US-based trio of IMF, Fed and Moody’s

Deutsche Bank. Overview of the trading floor in Frankfurt am Main, Germany. (Deutsche Bank audiovisual Services).

Last Thursday morning the International Monetary Fund and the American central bank, the Fed, simultaneously but in the face of it independently, issued warnings about the health of the largest German lender, the long ailing Deutsche Bank. A few days before that the US rating agency Moody’s had degraded the creditworthiness of the bank close […]

The UK referendum has already damaged Europe: even a ‘remain’ result is not without cost to Britain and the EU

Bilateral meeting Tusk-Cameron. David Cameron, Prime Minister of the United Kingdom (on the right) received Donald Tusk, President of the European Council in London. Shoot location: London. Shoot date: 04/02/2016. (European Council – Council of the European Union Audiovisual Services).

The adult Brits are deciding today about their country’s position in or out the European Union, in a referendum that Prime Minister David Cameron was forced by his party’s ultra-Eurosceptics in January 2013 to promise to conduct it, should the Conservative Party win a majority in the 2015 legislative election. This promise was then thought […]

Greece bailout programme: Full agreement after marathon negotiations on debt relief between IMF and Eurozone

From left to right: Mr Wolfgang SCHAUBLE, German Federal Minister for Finance; Mr Jeroen DIJSSELBLOEM, President of the Eurogroup; Mr Pierre GRAMEGNA, Luxembourg Minister of Finance.
Date: 24/05/2016. Location: Brussels – Belgium. © European Union, 2016

The Finance ministers of the Eurozone met yesterday in Brussels to discuss mainly on the implementation of Greece’s ESM economic adjustment programme and have come to a final deal which will lead to the conclusion of the first review unlocking the second tranche of 10,3 billion euros. The Ministers gave a direct assignment to the […]