To diversify from the euro-debt-crisis, the biggest Spanish banks pushed deeply into Emerging Markets. Now, they’re in a new crisis… Read More No Other Banks Are This Exposed to Turkey, Argentina, Brazil…. Emerging Markets Haunt Spanish Banks
“[The U.S.] dropped bombs on our heads and then they ask us to repay. When we do not repay, they tell the IMF [International Monetary Fund] not to lend us money.”… Read More After Destroying Cambodia, the U.S. Wants the Country to Repay It For The Bombs It Dropped On Its People
It’s time for international debtor rights, economist Michael Hudson tells The Real News Network… Read More IMF Lent to Greece Knowing It Could Never Pay Back Debt
So long as Greece remains in the Eurozone, it will not be able to reverse austerity and direct its fiscal policy towards unemployment, explains Former SYRIZA MP Costas Lapavitsas.… Read More Is Grexit Back on the Table?
The Western world is currently undergoing one of the most drastic redistributions of wealth in its history, with almost all new money flowing in one direction: upwards. While its roots may date back decades, this trend has accelerated dramatically since the collapse of Lehman Brothers in 2008 and the subsequent reordering of the Western banking… Read More Paying the Price for Financial Ignorance
“That men do not learn very much from the lessons of history is the most important of all the lessons of history.” Alduous Huxley In its recent daylight plunder of the accounts of uninsured Cypriot (and Russian) depositors and its ruthless steamrolling of all political and social opposition in its way, the Troika has displayed,… Read More The Tequila Crisis: The Prelude to Europe’s Economic Storm
Why is it that 17 nations have to fundamentally reorganize themselves and shift sovereignty away from national parliaments to new layers of transnational, beyond-control bureaucracies that can extract untold wealth from taxpayers—just to save the banks? That’s what the Eurozone has to do, or else banks will topple, and the monetary union will not be sustainable,… Read More Guest Post by Wolf Richter: Eurozone Banks Are In Trouble, Says IMF