Mattis: U.S. Could ‘Moderate’ NATO Support if Allies Don’t Pay More

James Mattis / AP

 

Secretary of Defense James Mattis told NATO allies on Wednesday that they need to contribute more money to the alliance’s common defense if they do not want to see the United States “moderate its commitment.” Continue reading

Greece debt crisis: German plan demands €50bn of state assets is transferred to external fund

Fiscal hawks among Greece’s eurozone creditors are taking an openly firmer line with Athens, including a proposal that Greece transfer €50bn of state assets into a fund to be managed by an external agency.

The plan appears in a paper from the German finance ministry and calls for either the transfer of state assets or a temporary “time-out” from the eurozone. Continue reading

China sets up “largest” gold fund for nations along Silk Road

BEIJING: China, the world’s biggest gold producer, has set up a gold sector fund involving countries along the ancient Silk Road which is expected to raise $16.1 billion.

The fund, led by Shanghai Gold Exchange (SGE), is expected to raise an estimated 100 billion yuan ($16.1 billion) in three phases, state-run Xinhua news agency reported. It is said to be the “largest fund” set up by China. Continue reading