Hard hitting global and local news
On January 25, 2008, the ECRI claimed There Is A Window of Opportunity for the US Economy . The U.S.
Read More: White Knight Irony: IMF Threatens to Walk Away From Bailout Deal Citing Unsustainable Debt
More: China Denies its GDP is Inflated; Chinese Stocks Resume Plunge With 3% Slide; Business Outlook Index Drops to Record…
“They crucified Tsipras in there,†a senior eurozone official who had attended the summit remarked. “Crucified.†Demolition of Eurozone Project With crucifixion of Tsipras, and more importantly of the Greek people, Wolfgang Münchau accurately assesses the developments this way: Greece’s Brutal Creditors Have Demolished the Eurozone Project . A few things that many of us took for granted, and that some of us believed in, ended in a single weekend.
The word of the day is "uncertain". It appears a number of times (in various forms) in Fed Chair Janet Yellen’s speech on Recent Developments and the Outlook for the Economy at the City Club of Cleveland, Cleveland, Ohio.
Read More: "Bold Proposal" to Screw European Taxpayers Again
The Wall Street Journal provides a case in point with IMF: U.S. Economy at Risk of Stalling Next Year if Fed Raises Rates Prematurely . " The Federal Reserve risks stalling the U.S
To the surprise of eurozone leaders, Greece showed up without a proposal. Nonetheless, Greece poised to offer new proposal for third bailout
The Guardian discusses practical math in With a Return to the Drachma Unwanted, Could Greece Just Print its Own Euros? It is certainly physically capable of doing so: the Greek central bank owns a press in Holargos, a suburb of Athens, that once printed drachma and is currently one of 14 high-security currency printing works across the eurozone producing euro banknotes. But actually going ahead and printing unauthorised notes would amount to a declaration of war on the European Central Bank.
Also consider Investors Still Not Convinced by Beijing’s Bid to End US$2.8 Trillion Market Rout . The brevity of a relief rally on Monday morning shows investors are yet to be convinced by the slew of measures announced after a weekend meeting of the State Council, China’s cabinet, chaired by Premier Li Keqiang.“Senior policymakers realise that, because of the leverage in the system, stock market declines create a ripple effect that could damage the wider economy, so this is all about preventing a spreading panic that could trigger a systemic crisis,†Lu Ting, head of research at Hong Kong-listed mainland brokerage HTSC, told the South China Morning Post. An initial 7 per cent rally for Shanghai and Shenzhen A shares in response to measures that included liquidity support for the state-backed margin lender China Securities Finance Corporation from the central bank had faded by the lunch break, with the Shenzhen Composite Index falling back into negative territory