Global management consulting firm McKinsey & Co has released a report detailing that the traditional Wall Street model is “no longer an option.”
(NEW YORK, NY) Despite slashing billions in costs and retrenching from key businesses since the financial crisis, Wall Street banks still have not done enough to repair and restructure, according to a new report.
There are only losers in the agreement clinched on Monday at dawn by Greek prime minister Alexis Tsipras and his eurozone partners. First and foremost the Greek people and the German and European leaders, believes the European press.
After a deal between Greek and eurozone leaders was hammered out following 17 hours of arduous negotiations, there is really nothing to cheer about, writes Michał Sutowski in Krytyka Polityczna. “With PM Tsipras’ back against the wall, the German government has pushed through nearly all its conditions; it’s a minor consolation for the Greeks that a ‘temporary Grexit’ turned out to be a negotiation stunt rather than a real proposal and that the restructuring fund will be located in Athens instead of Luxembourg”, writes Sutowski. He stresses that the negotiations have clearly shown the EU leaders’ goal was “to crush the Greeks’ resistance and not to reach a compromise” –
A lot of emails have been coming in about Jade Helm, a highly secret and most controversial U.S. Special Operations exercise that created a flood of conspiracy theories about a government takeover. The Washington Post has reported that Lt. Col. Mark Lastoria, a spokesman for Army Special Operations Command, said his organization is “considering allowing a small number of journalists to view selected portions of the exercise later this summer, but nothing is finalized.” Continue reading
While correct, this article is still missing the main point: Germany knew the Euro would fail.
It wasn’t formed out of stupidity, wishful thinking and day dreaming. It was formed with the desire to engineer a crisis and provide a solution that was already in the pipeline a long time ago. Even Alan Greenspan just recently said the only thing that will save the EU is a United States of Europe. Ironically, he unwittingly mentioned what will happen. It will indeed break up, but 10 will remain and one in particular will rise out of intrigue as described in Daniel 8:23 (See also HERE for further explanation).
The Fourth Reich is running Europe and its United States of Europe along with its European Army is coming. You don’t have to believe it, but a lack of belief itself won’t make what was Biblically written from happening.
This is also what happens after a superpower dies — another power has to fill in the vacuum.
In 1919, the European nations that had prevailed in WWI imposed onerous peace terms on Germany via the Treaty of Versailles. The harsh economic sanctions and reparations imposed on Germany led to economic catastrophe, massive unemployment, hyperinflation and eventual political turmoil, which led to the rise of fascism a little more than a decade later. After only five years of strict enforcement, France finally relented and canceled some of the more onerous terms of the treaty, but by then the economic and political forces in Germany that would see the rise of Adolph Hitler were already in motion. The Second World War was already inevitable.
The insistence of the WWI allies on political humiliation and economic punishment for Germany presents a remarkable parallel to the position taken by German chancellor Angela Merkel over the question of economic austerity and debt repayment for Greece and other heavily indebted nations in Europe. After the human and economic pain of losing two world wars, is it possible that Germany’s leadership has not learned the key lesson of economics, namely that benevolence is always a better course than retribution? Just ask Vladimir Putin of Russia, who has set back his nation’s economy by decades in order to resist the fearsome specter of a Ukrainian free trade agreement with the EU. Continue reading
Ukraine, to use a technical term, is broke. That’s what you call a country whose currency has lost half its value in just two days.
The problem is simple: Ukraine has no money and barely any economy. It’s already talking to the IMF about a $15 billion bailout and what’s euphemistically being called a debt “restructuring”—i.e., default—as its reserves have dwindled down to $6.42 billion, only enough to cover five weeks of imports. (Three months worth is considered the absolute least you can get by with). Continue reading
“The emotional side of me tends to imagine France, like the princess in the fairy stories or the Madonna in the frescoes, as dedicated to an exalted and exceptional destiny. Instinctively I have the feeling that Providence has created her either for complete successes or for exemplary misfortunes. Our country, as it is, surrounded by the others as they are, must aim high and hold itself straight, on pain of mortal danger. In short, to my mind, France cannot be France without greatness.
– Charles de Gaulle, from his memoirs
Recently there have been a spate of horrific train wrecks in the news. Almost inevitably we find out there was human error involved. Almost four years ago I began writing about the coming train wreck that was Europe and specifically Greece. It was clear from the numbers that Greece would have to default, and I thought at the time that Portugal would not be too far behind. Spain and Italy clearly needed massive restructuring. Part of the problem I highlighted was the significant imbalance between exports and imports in all of the above countries. Continue reading