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 […]

Deutsche Bank again in the middle of the US-EU economic skirmishes

Deutsche Bank Towers – Headquarters in Frankfurt am Main, Germany. Taking a look into the lobby. (Deutsche Bank Audiovisual Service).

The US government is reacting in many ways against the fine in back taxes of €13 billion which the European Commission imposed on Apple. Firstly, Jack Lew, the American Secretary of the Treasury, accused the EU of grabbing tax incomes which belong to the US. On 31st August he said, “What’s not appropriate is for, […]

The West castigates Turkey’s Erdogan for the ruthless political cleansing

Donald Tusk, President of the European Council (on the left), some months ago visited the countries along the Balkan route and Turkey. In Istanbul he met with President Recep Tayyip Erdogan. (Shoot location: Istanbul – Turkey. Shoot date: 04/03/2016. Copyright: 'The European Union')

Last week, the Turkish President Recep Tayyip Erdogan defied his western allies, who have called for restrain and the rule of law in the wide ranging purge of the country after the failed coup. With the basic human rights hindered, his ruthless cleansing of the military, the judiciary, the public administration, the education system and […]

Spanish and Polish voters are crying out for an imminent European change while US urge now Germany to change route

From left to right: Mr Mariano RAJOY BREY, Spanish Prime Minister; Ms. Federica MOGHERINI, High Representative of the EU for Foreign Affairs and Security Policy. European Council for migration in the Mediterranean (Council TVNewsroom, 23/04/2015)

The election outcomes in Spain and Poland last week were enough to cause even more uncertainty and turbulences to the already shaken European economy. The European leaders and especially Germany is facing another thorn while they struggle to come to a deal with Greece, which focuses on the austerity policy that is constantly followed by the […]

Eurostat confirms a dangerously fast falling inflation in Eurozone

Jack Lew, US Secretary of the Treasury (on the left), and Michel Barnier, Member of the EC in charge of Internal Market and Services. (EC Audiovisual Services).

Yesterday Eurostat confirmed that the euro area inflation rate for December was down to 0.8% from 0.9% in November, dangerously approaching  the negative part of the graph. The announcement coincided with IMF Managing Director Christine Lagarde’s warning that weak growth in Eurozone is now also threatened by deflation (continuously falling prices leading to real economy […]

Summer pause gives time to rethink Eurozone’s problems

Olli Rehn, Vice-President of the EC in charge of Economic and Monetary Affairs and the Euro (on the right), received Jack Lew, US Secretary of the Treasury. (EC Audiovisual Services, Brussels).

The United States Secretary of the Treasury Jack Lew on his way back to Washington from the G20 meeting in Moscow made a stop-over in Athens on Monday to meet the Greek Prime Minister Antonis Samaras. Probably this is not major news. However, what Lew said under the Acropolis about his encounter with the German […]