Bank of England stress tests to include feared global crash

 

The Bank of England is to impose a series of tests on major UK banks to establish whether they are able to withstand a dramatic slowdown in China, a contraction in the eurozone, the worse deflation since the 1930s along with a fall in UK interest rates to zero.

The Co-operative bank – which failed last year’s tests – is no longer included in the annual assessments of the industry’s financial strength as it is too small, leaving six banks and the Nationwide building society to be tested. Continue reading

China’s Influence Set to Climb as U.S. Thwarted on New Bank

Power VisionChinese President Xi Jinping’s vision of achieving the same great-power status enjoyed by the U.S. received a major boost this month when the U.K., Germany, France and Italy signed on to the Asian Infrastructure Investment Bank. The AIIB will have authorized capital of $100 billion and starting funds of about $50 billion.

Canada is considering joining, which would leave the U.S. and Japan as the only Group of Seven holdouts as they question the institution’s governance and environmental standards. Australian Prime Minister Tony Abbott’s cabinet approved negotiations to join too, according to a government official who asked not to be identified as the decision hasn’t been made public. Continue reading

Obama Snubs Nato Chief as Crisis Rages

President Barack Obama has yet to meet with the new head of the North Atlantic Treaty Organization, and won’t see Secretary General Jens Stoltenberg this week, even though he is in Washington for three days.  Stoltenberg’s office requested a meeting with Obama well in advance of the visit, but never heard anything from the White House, two sources close to the NATO chief told me.

Kurt Volker, who served as the U.S. permanent representative to NATO under both President George W. Bush and Obama, said the president broke a long tradition.  “The Bush administration held a firm line that if the NATO secretary general came to town, he would be seen by the president … so as not to diminish his stature or authority,” he told me. Continue reading

Russian Sub “Caught” By UK Fisherman After Moscow Threatens To Nuke Denmark

As US allies rapidly demonstrate their willingness to abandon Washington on key issues like China’s attempt to move the world away from US-dominated multinational institutions that have held sway for decades, and with NATO simultaneously building a “line of troops” along the Russian border, Moscow seems keen on proving yet again that Russia’s belligerence knob “goes to 11.” As we noted over the weekend, Moscow took the rhetoric up a notch recently when the Kremlin threatened (literally) to blow Danish ships out the water with nuclear missiles, prompting a NATO spokeswoman to dryly note that “such statements do not inspire confidence or contribute to predictability, peace or stability.” Here’s more from Reuters: Continue reading

Putin’s Falklands threat: Britain to boost defences amid claims Russia is arming Argentinian army

Britain is set to boost ​its defences in the Falklands amid claims Russian president Vladimir Putin is helping Argentina re-arm.

Defence Secretary Michael Fallon is due to tell MPs on Tuesday that the Government is beefing-up the UK’s presence on the islands. Continue reading

The New Order Emerges

China and Russia have taken the lead in establishing the Asian Infrastructure Investment Bank (AIIB), seen as a rival organisation to the World Bank and the Asian Development Bank, which are dominated by the United States with Europe and Japan.

These banks do business at the behest of the old Bretton Woods* order. The AIIB will dance to China and Russia’s tune instead.

The geopolitical importance was immediately evident from the US’s negative reaction to the UK’s announcement this week that it would join the AIIB. And very shortly afterwards France, Germany and Italy also defied the US and announced they might join. In the Pacific region, one of America’s closest allies, Australia, says she is considering joining too along with New Zealand. The list of US allies seeking to join is growing. From a geopolitical point of view China and Russia have completely outmanoeuvred the US, splitting both NATO and America’s Pacific alliances right down the middle. Continue reading

“Colossal Defeat” For Obama As Australia Joins China’s Regional Bank

Having attacked its “closest ally” UK for “constant accomodation” with China, we suspect President Obama will be greatly displeased at yet another close-ally’s decision to partner up with the Chinese-led Asian Infrastructure Investment Bank (AIIB). As The Australian reports, “make no mistake,” the decision by Australia’s Abbott government to sign on for negotiations to join China’s regional bank, foreshadowed by Tony Abbott at the weekend,  “represents a colossal defeat for the Obama administration’s incompetent, distracted, ham-fisted dip­lomacy in Asia.” Continue reading

Europe Gets ‘Foot in The Door’ in Asia by Joining AIIB

A number of European states decided to join the Asian Infrastructure Investment Bank (AIIB) planning to pursue an economic presence in Asia.

MOSCOW (Sputnik), Anastasia Levchenko – The European countries that have decided to become members of the China-backed Asian Infrastructure Investment Bank (AIIB) want to ensure an economic presence in the most dynamic economic region in the world, experts told Sputnik on Tuesday. Continue reading

EXCLUSIVE: Fears ‘pig plague’ from EU could DECIMATE Britain’s pork industry

A HIGHLY contagious swine flu strain dubbed the “pig plague” is sweeping across Europe and experts fear it could hit British shores and decimate our stock

The virus – which has no cure – is moving rapidly and could ruin the UK’s £350million pork export industry and push up the price of meat, campaigners have warned.

The African strain of swine flu (ASF) has now reached the EU, Express.co.uk can reveal, and industry lobbyists claim it would lead to animal culling on the scale of the 2001 foot and mouth crisis, which led to scores of UK farmers being financially ruined.

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What Happens When You Take the UK out of the EU?

Britain is closer than ever to cutting ties with the European Union. What will Europe look like once the British are gone?

If the European Union wants to make British people angry, it’s doing a stellar job. In October, after revising how they calculate gross domestic product, EU officials determined that Britain was wealthier than they thought. They abruptly handed Britain an unexpected bill for $2.7 billion, including back payment, for the EU budget. Then other EU leaders publicly castigated London for noncompliance with the EU’s liberal immigration policies. And in November, Jean-Claude Juncker—a man who openly spurns democratic norms, saying, for example, in 2011, “I am for secret, dark debates”—was appointed president of the European Commission.

Britain’s simmering resentment of the EU boiled over.

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Ukraine crisis: House of Lords criticises EU and Britain for ‘sleepwalking into crisis’ as Moscow and Nato remain on diplomatic collision course

France and Germany, which had brokered the Minsk accord last week, were yesterday trying to hold together the increasingly fragile ceasefire in Ukraine amid reports that fighting was spreading once again. Kremlin-backed separatists and Cossack fighters triumphantly paraded through the shattered town of Debaltseve, a strategic point they had captured in the past 48 hours. Continue reading

Russian Bomber Over Channel Was Carrying Nukes

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Tensions between Russia and the UK have heightened after it was revealed that the Russian bomber intercepted by RAF fighter jets was carrying a nuclear missile designed to destroy Trident submarines.

The TU-95 aircraft were spotted on long range radar flying down from Scotland towards the English Channel, where they were close to entering British airspace, the Sunday Express report.

Ministry of Defence sources revealed the ‘seek and find’ nuclear warhead missile which can destroy the British Vanguard submarines which form the country’s nuclear deterrent.

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Britain First Party Launches ‘Christian Patrols’ to Oppose ‘Muslim Gangs’

As often said here, Europe as a whole is one major terrorist attack away from turning into an extreme right-wing continent — and right now the pot is being stirred.

 

MOSCOW, January 20 (Sputnik) — UK nationalist political party and movement Britain First has launched “Christian patrols” across the country to oppose “Muslim gangs”, the party’s leader Paul Golding has said.

“We’ve received new information that Muslim gangs are trying to enforce certain parts of Sharia law, and, quite frankly, we’re not having this. We’ve got activist teams out across the country tonight carrying out similar Christian patrols in heavily Muslim areas,” Golding said in a video posted by the movement on its Facebook page on Monday. Continue reading

Ministry of Defence orders £228m of super missiles to protect the Falklands as Argentina strengthens its air force

  • MoD could be set to order £228million super missiles to protect Falklands
  • They would replace ageing Rapier missile batteries stationed on the island
  • New missiles would be able to travel at 1,000 metres per second
  • Comes after reports Argentina is looking to strengthen its air force
  • MoD say they remain vigilant and committed to the Falkland Islands

The Ministry of Defence are to order £228million of super missiles to protect the Falklands as Argentina seeks to bolster its air force, it has been reported.

The British territory in the South Atlantic is currently protected by ageing Rapier missile batteries.

Last month, it was reported that Argentina was looking to strengthen its air force by leasing attack jets from Russia. Continue reading

‘We can’t stop terror attacks’ MI5 chief’s chilling warning about jihadi threat to Britain

BRITAIN faces a growing threat from terrorists at home and abroad and “cannot hope to stop” every plot, the boss of MI5 has warned.

Andrew Parker said Al Qaeda terrorists in Syria were trying to direct atrocities here and planning “mass casualty attacks” against the West.

His chilling warning came as French police continued the hunt for brothers Cherif and Said Kouachi, chief suspects in the Paris magazine massacre in which 12 people were shot dead.

Mr Parker, 52, warned that the terrorist threat was growing at the same time as MI5’s ability to track terrorists was being reduced.

Extremists are finding more secretive ways of communicating online and avoiding being tracked by the security services.

Mr Parker said: “If we are to have the best chance of preventing such harm, we need the capability to shine a light into the activities of the worst individuals who pose the gravest threats.

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