Economics

European countries, international creditors and the Greek opposition have declared a war on Greece (resembling the one on Yugoslavia) but the government will stay true to its election promises, Labor Minister Panos Skourletis of Syriza said.  “The months following the elections were extremely hard. Never before has the government, which …

By Eric Zuesse Interviewed on June 6th by German Economic News, the chief economist at Bremer Landesbank, Folker Hellmeyer, says that because of Obama’s sanctions against Russia, German exports declined year-over-year by 18% in 2014, and by 34% in the first two months of 2015 (no later figures), but he …

Nicolas Bonnal of Boulevard Voltaire believes Russia is lucky that it wasn’t invited to the G7 summit this year, comparing the group to the company of hypocritical “idiots.”  As the West is reaching new heights of absurdity, Russia should be happy that it didn’t end up in the company of …

According to a report in Oil Price.com “major discoveries in Uganda and Kenya, high-level production activities in Sudan and even exploration in war-torn Somalia,” as well as the North African country of “Eritrea should be on everyone’s radar.”  In 2009, Eritrean President Isaias Afwerki revealed that there is …

By Paul Craig Roberts Over the last 15 months Ukrainians have paid for Washington’s overthrow of their elected government in deaths, dismemberment of their country, and broken economic and political relationships with Russia that cost Ukraine its subsidized energy. Now Ukrainians are losing their pensions and traditional support …

The worldwide use of the renminbi would reduce the cost of financial transactions for China by allowing the direct exchange of RMB claims with non-USD currencies.  China established the first renminbi clearing center in the Middle East in Qatar in April. The aim of the center is to offer local financial institutions access …

Valbona Zeneli Fortunately for all, the Greek government and the rest of the Eurozone reached an agreement extending the country’s bailout program for four months. This extension will allow all parties to apply clear and critical thinking towards resolving this challenge. However, four months is an incredibly brief …

The “temptation of nationalism” may trigger EU member states to seek independence from Brussels and eventually “repatriate power” to their capitals, dealing a lethal blow to the European Union’s system, Stratfor notes.  According a forecast by Stratfor, a private US intelligence company, a loss of economic prosperity within the EU accompanied …

Iran may use the Turkish Stream gas pipeline being developed by Russia in order to deliver gas to Europe, the director of the National Iranian Gas Company’s Liaison Office told RIA Novosti on Wednesday.  PARIS (Sputnik) – Iranian gas could be delivered via the Turkish Stream pipeline being developed …