The European Sting is Your democratic, independent and top quality political newspaper specialized in European Union News. Unique Features: iSting & Harry Sting
Last Thursday, Donald Trump, at a superb hall in the new glass and steel NATO building in Brussels, delivered an unruly speech, after having pushed aside Prime Minister Dusko Markovic of Montenegro (the related video has become viral) while walking towards the rostrum. He came out with a blatant and derogatory account aimed at 23 […]
Germany, and more generally the EU, is now preparing in earnest to confront the groundbreaking changes in their relations with Trump’s America. Last week, both the German Chancellor Angela Merkel and her Federal minister for Finance Wolfgang Schauble, made direct and indirect statements about the policies now needed for Germany and the European Union. On […]
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 […]
In the short period after the 8 November election that brought him to the Oval Office of the White House for the next four years, President – elect Donald Trump has more or less outlined the policy mix he is going to implement as from 20 January. His choices for key government positions and his […]
Everybody agrees now that the President – elect Donald Trump won the 8 November election, by promising he will take good care of the Americans who are left behind in the era of globalization and of the global financial rackets. The first signs though indicate the opposite. His choices for the top Washington jobs are […]
The economic, social and political gaps between the power hubs of New York and Washington on the one hand and the American Mid-West and Southern states on the other is equal to the space dividing London from the rest of Britain. These distances probably compare to the vacuity separating earth from the moon. This is […]
With a large part of voters disgusted from this US Presidential race, which reached unseen before heights of bitterness, hatred, toxic recrimination and another part of Americans ready to contest the result, had Donald Trump lost the race. In the end, he achieved a landslide win and will become the next President of the USA. […]
From Beijing and Tehran to Brussels and London, and further away to Mexico City and Caracas the night of 8 November will create a landmark in contemporary world history. The results of the US election and the new occupant of the White House in Washington D.C will certainly affect the way the world turns around. […]
The way Wallonia, Belgium’s French speaking region approved CETA – the comprehensive economic and trade agreement between the EU and Canada – is a rather dark landmark. In the future, Europe’s trade and otherwise relations with foreign countries will be rather shaky. This was also true in the past, but now became evident for everybody […]
After the Brexit, it became apparent that a large or probably the largest part of citizens/voters in the western world are questioning, if not strongly protesting against globalization, having felt its onerous consequences. The free movement of people, goods and capital is not any more a perceptibly good thing for the average man in the […]
Only two weeks after it was agreed upon, the ceasefire in Syria has finally broken down. However, the US and Russia are still trying to find common grounds, not for a new truce, but for an arrangement about splitting Syria’s carcass. This is a clear indication that the war will continue until the two powers […]
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, […]
Last Thursday, Mario Draghi, the President of the European Central Bank, was unable to move the capital and money markets with his customary monetary policy Press conference in Frankfurt am Main. On the contrary, North Korea’s leader Kim Jong-un, a global castoff, did it the next day just by pressing a button. However, it took […]
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 […]
Last Monday David Folkerts-Landau, the chief economist of Deutsche Bank, the ailing largest lender of Germany, in an interview with the prestigious newspaper ‘Die Welt’ stated that European banks must be subsidized with €150 billion in rescue money to recapitalize. Obviously, it will be the taxpayers to once more provide the capital the euro area […]
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 […]
What happens in China is more important for the European economy than a meagre fall of unemployment in the Eurozone. Last Tuesday, China said its February exports dived by a record 25.4%, fuelling new fears for a bigger slowdown in the world economy. At the same time, a Press release by Eurostat, the EU statistical […]
Last Tuesday, a new steep fall of the price of crude oil by almost 5%, triggered another selloff in all the major capital markets of the world. The New York and the European stock exchanges lost anything between 2% and 3% of their capitalization. One may observe that this development is one of many of […]
The major central banks of the world are currently in the middle of a precise but of dubious results surgical operation on capital markets. On the one hand, the monetary authorities aim at supporting the real economy by injecting more cash into the financial system. On the other, they try to mitigate the risky super […]
On Thursday 7n January this newspaper commented that behind the capital markets selloff, which shook the financial world in the first week of this year, were the financial moguls who want to impose their terms to central banks and mainly the American Fed. Since then stock markets keep losing a lot of grounds every day. […]
The wild selloff in the major capital markets of the world that culminated last Monday, the first working day of the New Year and continued on Wednesday for a fifth day in row was not just an overreaction to the anticipated slowdown of the Chinese economy, as almost all chief analysts assumed in mainstream media. […]
During the last two weeks the world’s largest stock markets had a wild time not seen since Lehman Brothers went bust on 15 September 2008. The New York stock exchange in Wall Street lost more than 8% of its capitalization in a few days and then recovered some of the losses to close last Friday […]
How is it possible that the good news of the growth of the American economy which has raised its gear, also brings forth crisis and possibly destruction in developing countries? Yet this is exactly what is already happening in our brave new world. The good news is that the US economy now grows at a […]
In 2007 Ireland’s sovereign debt was 25% of the country’s GDP. After the financial crisis – and €140 billion later – in 2012 it reached 120% of the GDP at €190bn. Yet the Dublin government this week celebrated the Irish ‘exit’ from the EU-ECB-IMF troika’s surveillance programme, that brought the 4.5 million people nation to […]
IMF economists, Kalpana Kochhar and Roberto Perrelli, in their study entitled “How Emerging Markets Can Get Their Groove Back”, posted yesterday by iMFdirect, give a rather frightening response to this question. They conclude that “we estimate that emerging market’s “potential” growth needs to be revised down”. IMF Economic counsellor and director of the Research Department, […]
Lagarde to the world: Keep feeding the banks with zero interest rate cost money, further trim down workers’ rights in the developed world and reduce subsidies on foodstuffs and utilities in developing countries. This was in short what the managing director of IMF had to say, ahead of the 2013 World Bank-IMF Annual Meetings, when […]
In tomorrows’ European Summit the 27 leaders of the European Union will have as main item in their agenda the fight against tax evasion and fraud. Reportedly without concrete results. According to the President of the Council, Herman Van Rompuy, this affair costs to member state budgets around €1 trillion every year. If only a […]
According to the Organisation for Economic Cooperation and Development (OECD), the Chinese economy is bound to resume in strength in 2013 and attain an enviable 8.5% growth rate, after a relatively slow year in 2012, when it marked its slowest yearly GDP increase for years at 7.5%. OECD insists however that the relative slow-down of […]
The European Parliament adopted yesterday tougher rules for the issuance of creditworthiness ratings on governments and private businesses by the relevant agencies. Obviously the new legislation was voted in relation with and aims to set new restrictions on the activities of the three largest of them, namely Standard & Poor’s, Moody’s and Fitch IBCA. But […]
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