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Decidedly Unsafe Harbour – Is TiSA Now Holed Below The Waterline?

Decidedly Unsafe Harbour – Is TiSA Now Holed Below The Waterline?

Will the recent undoing of the “safe harbour” agreement between the European Union and the United States spell the end of widely-contested, ultra-secret trade deals the U.S. seeks to impose on increasingly reluctant EU partners? Here Don Quijones, author of the Raging Bull-Shit blog and an editor at Wolfstreet describes how an EU court decision may torpedo TiSa. […]

If You Thought the EU-US TeaTip (TTIP) Deal Was Bad You’ll Hate TeaSa (TISA)

If You Thought the EU-US TeaTip (TTIP) Deal Was Bad You’ll Hate TeaSa (TISA)

Some cleansing sunshine just hit another innocuous-sounding, US-inspired acronym, one that critics label an insidious attack by global corporations on the interests of citizens and Western democracies. Trade in Services Agreement (TiSA) is part of a highly secret trade pact for services under negotiation between the US and the EU and one which opponents on both sides of the […]

Franco-German Axis Unites Ahead of any Possible Greek Euro Exit

Franco-German Axis Unites Ahead of any Possible Greek Euro Exit

The Franco-German axis is pursuing its goal of crushing national and monetary sovereignty on an unremitting march towards full-on European political union and this despite current eurozone hitches. That’s at least how Don Quijones, author of the Raging Bull-Shit blog and an editor at Wolfstreet sees the recent joint statement by French and German Finance Ministers […]

Muddling Along: The “Old EU Leaders” Lack Steel, Grip and a Vision

Muddling Along: The  “Old EU Leaders” Lack Steel, Grip and a Vision

Worsening Eurozone unemployment, fears of secular stagnation coupled with Europe’s lost generation, middle class pauperisation, welfare retrenching, and rising xenophobic and anti-European forces paint a glum picture of the Europe of tomorrow. Here Lorenzo Marsili, a founder and director of European Alternatives traces the concerns that have seen radical insurgent parties on the Left and Right making strong […]

Will Growing Transatlantic Concerns Torpedo Highly Secret TTIP Trade Deal?

Will Growing Transatlantic Concerns Torpedo Highly Secret TTIP Trade Deal?

A senior UN lawyer recently called for its suspension and a growing chorus of other commentators have echoed his concerns. Is the all-powerful, highly-secret proposed TTIP trade deal between the EU and the US a sinister threat to democracy? A UN lawyer says tactics used by multinationals in courts outside of public jurisdiction would undermine democracy and law. […]

Exposing the Unlovely Faces of Rickety Banks in Spain, Portugal, Greece and Italy

Exposing the Unlovely Faces of Rickety Banks in Spain, Portugal, Greece and Italy

The European Commission is preparing to unmask more messy cosmetics plastered over the rickety banks of  Spain, Portugal, Greece and Italy in a move that could seriously shake Europe’s new banking union. Here Wolf Richter of the Wolfstreet Blog details yet another chapter in the scandalous failure, after eight years of sovereign debt crisis and recession, to rid the EU […]

As Greece Struggles and Brussels Bluffs it Out, Bad Banks Just Keep Popping Up Across Europe

As Greece Struggles and Brussels Bluffs it Out, Bad Banks Just Keep Popping Up Across Europe

Does a rising tide of junk threaten EU banks? Will the triple-F toxic trash of derivatives, securitised debt, non-performing loans and other dubious tools developed by financial fraudsters who crashed the world’s financial system in 2007/8, deliver a mortal blow? That’s what Don Quijones, author of the Raging Bull-Shit blog and an editor at Wolfstreet sets out to discover in this hard-hitting […]

Power Your Home From a French Wind Tree, Inventor Inspired by Fluttering Leaves

Power Your Home From a French Wind Tree, Inventor Inspired by Fluttering Leaves

A French inventor plans to plant ‘Wind Trees’ around towns and cities in France to harness the energy in leaf-rustling breezes, which he says can power a home. Jérôme Michaud-Larivière whose “l’Arbre à vent” developed by the Parisian start-up firm NewWind will come to market in 2015, says his prototype (see image below) was inspired by […]

Disintegration, Unemployment and Instability Face Europe if Brussels Signs Up To TTIP

Disintegration, Unemployment and Instability Face Europe if Brussels Signs Up To TTIP

As many as 600,000 additional lost jobs could be added to an already disastrously high EU unemployment tally if Brussels signs up to the Transatlantic Trade and Investment Partnership (TTIP) according to Jeronim Capaldo, a Research Fellow at Tufts University Global Development and Environment Institute. In his latest report on the TTIP,  France-based writer John Preedy examines research suggesting European […]

Mitterrand Warned Delors In 1993 That Eurozone Collapse Lay Ahead – Claims New Book

Mitterrand Warned Delors In 1993 That Eurozone Collapse Lay Ahead – Claims New Book

The deep impact of the Global Crash of 2008 that unravelled the Eurozone  was exacerbated by inadequate responses from European leaders. Their dismal failure to resolve the Eurozone crisis has prompted a rise of the European Right says a new book by a Greek economist. The European Union, writes Prof Yanis Varoufakis, has a long tradition of treating democracy as a luxury and […]

As Deepening Economic Failure Dogs the EU, Could City-States Return?

As Deepening Economic Failure Dogs the EU, Could City-States Return?

With France battling a deep economic crisis — projected growth of just 0.4% this year —  Italy reporting  zero ‘growth’ for 13 quarters and ‘punishment interest’ imposed by German banks on savers, little wonder the increasingly-unloved European Union seems damagingly fractured. Here Eve Hepburn, a British academic writing at Open Democracy asks if the numerous breakaway movements in […]

European Bank(ster)s Could Still Collapse the House of Cards; S&P Sounds Serious Warning

European Bank(ster)s Could Still Collapse the House of Cards; S&P Sounds Serious Warning

Standard & Poor’s has sounded a serious warning to the speculators still pretending the European bank(ster) crisis is over with a warning that powerhouse Germany’s anti-euro party can no longer be ignored. And where Germany goes France seems set to follow in terms of EU rejectionism as Wolf Richter of Wolfstreet.com writes: Standard & Poor’s Warns on […]

Secret Goldman Sachs Tapes Reveal Global Bankers Still Not Brought to Heel

Secret Goldman Sachs Tapes Reveal Global Bankers Still Not Brought to Heel

A year after the global devastation of a 2008 financial crisis provoked by out-of-control bankers, US lawmakers were demanding safeguards while regulators in major financial centres worldwide assessed ongoing risks to their banks. But as the ProPublica report below suggests seven years and on banks remain untamed. Inside the New York Fed: Secret Recordings and a Culture Clash by Jake Bernstein ProPublica, Sep. […]

Still Think Europe’s 7-year Banking Crisis is Over? Germany has a Warning for You, Think Again

Still Think Europe’s 7-year Banking Crisis is Over? Germany has a Warning for You, Think Again

There are many opinion makers radiating outwards from Brussels who insist that the Euro crisis and the related European banking chaos is over … well now Germany has a stark warning  — think again. Germany’s central bank governor Jens Weidmann has told Der Spiegel, that country’s most influential news magazine: ‘The Euro Crisis Is Not Yet Behind Us’. In the European Union’s current economic […]

FATCA: The Queues to Renounce Reportedly Now Stretch for Months in Some Places

FATCA: The Queues to Renounce Reportedly Now Stretch for Months in Some Places

As the impact of the US Foreign Account Tax Compliance Act (FATCA) on American citizens abroad becomes ever clearer, an extraordinary “rush to the exit” appears to be accelerating as once-proud US citizens move to swap their nationality for less intrusive ones. According to Victoria Férauge, a Paris-based writer who edits the Association of American Residents Overseas, (AARO’s) newsletter and her own widely […]

Bad all over the Eurozone But Is The Real French Unemployment Figure as High as 19%?

Bad all over the Eurozone But Is The Real French Unemployment Figure as High as 19%?

EU leaders desperately pretend things are getting better, urging their voters to believe that the recovery has arrived, eight years after a 2007/8 collapse and recession driven almost entirely by corrupted, criminally-irresponsible global bankers and their political allies, who nearly-bankrupted the world.    But as Wolf Richter highlights in this piece published on his hardhitting Wolfstreet.com website, in France two years into Socialist President François Hollande’s disastrous reign, the unemployment […]

Insurance: French Banks Face Demand from 50,000 Customers to Repay 120mn euros

Insurance: French Banks Face Demand from 50,000 Customers to Repay 120mn euros

French banks face demands to reimburse more than €120 million euros to mortgage holders and personal loans customers following a class action launched by an Internet-based claims company, Le Parisien reports. The website ActionCivile.com sent French banks 46,208 enforcement notices from individuals registered on their site demanding reimbursement for allegedly overcharged insurance premium costs. The claims […]

What You are Not Being Told About the Upcoming EU Banking Union

What You are Not Being Told About the Upcoming EU Banking Union

Market-depressing financial gymnastics by Portugal’s Espirito Santo Financial Group have reawakened wider concerns about EU banks amid signs the European Central Bank is papering over the economic problems plaguing major economies including that of France. The development comes as the EU moves towards a banker-pleasing European banking union with some potentially dire outcomes for small depositors, developments highlighted […]

The Euro Crisis is NOT Over Says CEO of Allianz, Europe’s Largest Insurer, ‘Everybody Knows That

The Euro Crisis is NOT Over Says CEO of Allianz, Europe’s Largest Insurer, ‘Everybody Knows That

The Euro crisis is NOT over, all of (Europe’s) bankers are lying when the say repeatedly that things are better, says Maximilian Zimmerer CEO of Allianz — Europe’s largest insurer. He was speaking a day after the Luxembourg-based ultimate parent of Banco Espirito Santo Portugal’s second-biggest bank by market value failed to meet a bond repayment, […]

Despite Election Promises Hollande has Rowed Right Back on Professed Hatred For Banks

Despite Election Promises Hollande has Rowed Right Back on Professed Hatred For Banks

Two years ago Socialist President François Hollande declared his real enemies were bankers and the world of finance that destroyed the global economy in 2007. Today he sings a totally different tune. Well now just why might that be asks Wolf Richter, publisher of the hardhitting Wolf Street blog, in a post that followed the record fine […]

France Holds Steady as a US High Court Appears to Admit Fracking Less Safe Than First Thought

France Holds Steady as a US High Court Appears to Admit Fracking Less Safe Than First Thought

While corporate energy interests in France continue to lobby strongly against the current nationwide ban on using any fracking for shale gas exploration, the High Court in New York has upheld fracking bans in that state, seemingly casting serious doubt on the safety of the controversial extraction method. In a recent piece on Wolf Richter’s Testosteronepit.com […]

Now its Transnational: Is the Fight on the FATCA Front about to Reach a Climax?

Now its Transnational: Is the Fight on the FATCA Front about to Reach a Climax?

With July 1st as go live for FATCA — the contested US Foreign Account Tax Compliance Act — many of the affected question whether Washington has the right to force  “U.S. persons” to report and pay taxes on income and assets abroad. According to Victoria Férauge, a Paris-based writer who edits the Association of American Residents Overseas, (AARO’s) newsletter and her own widely read The Franco-American Flophouse […]

Ignore the Bluster of the Political Plutocrats the Eurozone is STILL In Recession

Ignore the Bluster of the Political Plutocrats the Eurozone is STILL In Recession

Summer in France, the world’s top tourist destination, is when gites, small hotels and campsites are filled to bursting … but not this year, en route to being one of the worst seasons since the 2008 GFC. The recession has never really gone away. In a recent piece on the Testosteronepit.com blog Wolf Richter says the truth about Europe’s parlous state was highlighted by some 800 top […]

Paris Climate Talks to Draw 25,000 Delegates But Is Climate Change Yesterday’s Child?

Paris Climate Talks to Draw 25,000 Delegates But Is Climate Change Yesterday’s Child?

Paris climate talks to draw up to 50,000 (via AFP) As many as 50,000 people are likely to attend the December 2015 talks in Paris aimed at forging a UN pact on climate change, host France said on Tuesday. “Between 40,000 and 50,000 people from 195 countries are expected,” Foreign Minister Laurent Fabius…  

How to Rob a Bank from the Inside and Why We STILL face an EU Banking Crisis

How to Rob a Bank from the Inside and Why We STILL face an EU Banking Crisis

Warning that the next major global bank collapse is a matter of ‘when’ not ‘if’, former US banking regulator William Black sets out to forewarn consumers of the fraud recipe deployed by the shysters still running financial institutions, apparently with  impunity. This video is cross posted from the TED website with acknowledgments and thanks. In TED’s words here […]

Jérôme Kerviel – Crook or Scapegoat? Politicians Recall Dreyfus Affair As Rogue Trader is Jailed

Jérôme Kerviel – Crook or Scapegoat? Politicians Recall Dreyfus Affair As Rogue Trader is Jailed

Marine Le Pen and Jean-Luc Mélenchon heading diametrically opposite poles of French politics have found rare agreement in opposing a jail sentence imposed on rogue bank trader Jérôme Kerviel, detained and whisked off to start a three-year prison term on Sunday May 18. 18 MAY 2015 IMPORTANT UPDATE BELOW ALL THE TRUTH MAY NOT HAVE BEEN REVEALED […]

Brussels and Washington In Full Frontal Assault on Democracy? Corporate Lawyer Stranglehold

Brussels and Washington In Full Frontal Assault on Democracy? Corporate Lawyer Stranglehold

The Left and the Right in France appear to agree on at least one thing, a dangerously unbalanced, free trade land grab being negotiated as secretly as possible between the European Union and Washington must be stopped at all costs. While at least one campaigner has become alarmed enough to tread floorboards at civic centres […]

The Euro was 35 years in the Making (So is its Mooted Collapse Really that Likely?)

The Euro was 35 years in the Making (So is its Mooted Collapse Really that Likely?)

Starting before Georges Pompidou and May 1968 — a time of much turbulence in France — and driven by a range of French political leaders —  Raymond Barre, Valéry Giscard d’Estaing, Jacques Delors Edouard Balladur, Jacques Chirac, François Mitterrand — the euro emerged in 1999 only after many advances and retreats. Since then says the […]

Pumping Euro-Banks to Stop them Failing, Are Big French Players Safe?

Pumping Euro-Banks to Stop them Failing, Are Big French Players Safe?

European banks are still teetering after years of crisis, numerous bailouts, €450 billion in taxpayer capital injection, multi-trillion-euro ECB intervention and countless scandals … so next comes stock pumping. Here Wolf Richter reports on the latest desperate plan for doing “whatever has to be done” to keep a shine on the banking facade. This piece is reprinted, […]

France Fails to Meet Budget Target, Hollande Seeks to Square the Circle

France Fails to Meet Budget Target, Hollande Seeks to Square the Circle

France fails budget target, Hollande faces reform dilemma (via AFP) France is way behind budget targets, new data shows, deepening a dilemma for President Francois Hollande over spending cuts which could split his allies, or doing a U-turn in dangerous defiance of the EU. The official figures put the budget overshoot…  

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