The eleventh-hour agreement was no doubt motivated partly by fears that a “Grexit” – Greek withdrawal from the eurozone monetary union – would have triggered a financial earthquake with unforeseeable consequences. The result is a very European-style compromise that averts catastrophe and gains time while avoiding facing the underlying problems.In exchange for an extension of financial support from Greece’s partners and creditors, Prime Minister Alexis Tsipras will have to submit all his government’s measures during this period to Eurogroup inspection.
The negotiations between Greece and its European partners mark a milestone in the political tussle in the European Union since the reunification of Germany in 1990, between moving towards a Europeanized Germany or a Germanized Europe. Continue reading
A vital step in the shift of the Financial Capitol of the World moving from the West to the East, is becoming visible if you pay attention. Our model has revealed that the Financial Capitol of the World moves with the rise and fall of nations. China on the verge of becoming a net exporter of capital, it has already overtaken its Western counterparts as a primary source of credit for the developing world. And from this financial prominence, China will gradually exercise political influence that will shadow the United States in the decades ahead. We are at the dawn of a new era – the rise of Asia. Continue reading