What was quite interesting was the reaction of the official China’s credit rating agency, Dagong, which has downgraded the US rating from A to A- due to the fact that the debt growth rate significantly outpaces that of fiscal income and GDP.
Spain had its public debt at the level of 68.5% of GDP in 2011, and then at 85.9% in 2012, and now Prime Minister Mariano Rajoy believes that this year Spain will end with the debt of 94.2% of GDP. Spain is definitely a big problem for the EU.
It seems that Merkel is willing to create a big and strong coalition with German socialists and, as it is in politics, it means a lot of compromises in the field of economy, austerity measures and social policy.
I am in favor of a green agenda, but we can’t be religious about this. We need a new energy policy.
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The documents indicate that the US intelligence service was more active in Germany than in any other country in the European Union.
So, dear reader, please be careful which bank you chose and if you, or your business, have a bank account over €100,000.
But today it could happen anywhere; for example in China. It seems that counterparty mistrust among financial institutions reached extreme levels in China last week, where so called Shibor, or the Shanghai Interbank Offered Rate, has been surging.
Let’s be clear. We’ve intentionally blown the biggest government bond bubble in history … We need to be vigilant to the consequences of that bubble deflating more quickly than [we] might otherwise have wanted.
It is interesting as, on the one hand, there is France calling for more centralization and more common policies on the EU level, and on the other hand, President Francois Hollande is able to say: “The European Commission cannot dictate us what we have to do.”