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Countries seeking credits from World Bank at crisis levels

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World Bank Group headquarters building in Washington DC, USA. The World Bank says developing countries are increasingly seeking credit from the international financial institution at an alarming scale. Demands for World Bank loans have reached levels not seen outside of financial crises as developing countries struggle with a weak global economy, said the monetary organization prior to its biannual... 

As Ukraine Collapses, Europeans Tire of US Interventions

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On Sunday Ukrainian prime minister Yatsenyuk resigned, just four days after the Dutch voted against Ukraine joining the European Union. Taken together, these two events are clear signals that the US-backed coup in Ukraine has not given that country freedom and democracy. They also suggest a deeper dissatisfaction among Europeans over Washington’s addiction to interventionism. According to US and... 

Socialist Venezuela in Full Collapse as Hyperinflation and Crime Runs Rampant

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In recent weeks, two independent journalists traveled undercover to document their experience in the socialist “paradise” of Caracas, the murder capitol of the world, and lived to share an incredible video showing the ultimate conclusion of a state run economy. Venezuela is in the midst of a complete economic collapse, with all the typical symptoms, including hyperinflation, government price... 

Belgian Historian Draws Parallels Between Collapse of Roman Empire and EU

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According to historian and professor at the Free University of Brussels David Engels, the EU is currently facing a system change comparable with that in the late Roman Republic. In his book “On the Way to Empire”, he draws historical parallels between the current changes in the EU and the fall of the Roman Empire. In an interview with Sputnik, Engels argued that problems like populism,... 

Russia demands $683,333 daily interest on Ukraine’s $3bn overdue debt

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Moscow wants Kiev to pay interest daily on its $3 billion defaulted bond, Bloomberg reports after viewing court documents. Ukraine failed to pay the debt on December 20 and the penalty fee has grown to about $66.3 million as of Friday. The Kremlin refused to take part in the $15 billion debt restructuring Ukraine reached with its foreign creditors in 2015. Russia wanted Ukraine to recognize the debt... 

Saudi Arabia Nearing Massive Cash Deficits

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The moment is around the corner when Saudi Arabia will face a massive budget deficit, an American political scientist said. “Saudi Arabia is running large budget deficits of 15 to 20 percent of GDP, and is drawing down on its currency reserves,” American political science professor James D. Savage told Iran’s Tasnim news agency. He added that the International Monetary Fund (IMF) estimates... 

Trump: It is Important to Audit the Federal Reserve

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On Monday following an appearance by Trump insider and adviser Roger Stone on the Alex Jones Show last week, Donald Trump tweeted it “is so important to audit The Federal Reserve.” He also criticized opponent Ted Cruz for missing a vote on the proposal. Stone told Alex Jones prior to the tweet Trump is “deeply suspicious” and “open-minded about the Fed.” “I suspect you’d get an audit... 

Austerity economics ‘pointless remedy’ for EU - Italy PM

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Italy’s premier has harshly criticized the EU’s recent economic policies, describing them as a “pointless remedy” for a terminally-ill patient. Matteo Renzi censured the austerity measures imposed on many European states over the past several years and said austerity economics only has caused Europe to be left behind by the United States. “The countries that have had growth in Europe have... 

Riyadh Reels as Oil Prices Plummet

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Falling oil prices are emptying Saudi Arabia’s state coffers as the country grapples with its military and social needs, according to the French newspaper Les Echos. Plummeting oil prices have ridden roughshod over the state coffers of Saudi Arabia, which is currently trying to cope with its military and social needs, journalist Yves Bourdillon wrote in an article which was published by the... 

Brazil inflation hits 13-year high

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Official figures show inflation in Brazil last year hit the highest level since 2002. Official figures show that Brazil’s inflation hit the highest level in 13 years in 2015 over what many believe has been a result of economic mismanagement that has been worsened by a political crisis in Latin America’s biggest economy. The government announced on Friday that annual inflation reached 10.67... 

Feared Collapse Of United States And Saudi Arabia In 2016 Cause Russian Dread

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A highly disturbing Security Council (SCRF) report circulating in the Kremlin today is warning that the coming year, 2016, may very well see the collapse of the governments of the United States and Saudi Arabia as the citizens in both of these nations have begun revolting against the massive corruption these regimes rule by—and which should they both collapse would launch upon the entire world an... 

Chinese stock markets halted after tumbling 7% in 1st 2016 session, dragging Europe down

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Trading was suspended on Chinese markets after stocks tumbled 7 percent in the first trading of the year, triggering the new “circuit breaker” system limiting volatility, which was introduced in December. The fall from Asia led to a slump in European stocks as well. The 15-minute suspension happened about 90 minutes before market’s regular closure and followed a brief 15-minute halt early in... 

Ukrainian farmers hold mass protest against government agricultural cuts

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Activists who think that Ukraine’s 2016 budget screams death to the agricultural sector have brought a dead pig in a coffin to the Verkhovna Rada building in Kiev and held a mock funeral ceremony. The angry protesting farmers and their supporters demand to keep a simplified tax system and special VAT rules for the agricultural sector in 2016, something the announced budget lacks as Ukraine has to... 

Ukraine Officially Declares Default

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Ukrainian Prime Minister Arseny Yatsenyuk declared a moratorium on the payment of three-billion-dollar debt to Russia. The Cabinet of Ministers of Ukraine supported his decision. In addition, the official Kiev is not going to pay the debt of $507 million to Russian banks (the debt was amassed by two Ukrainian companies that collaborated with Russian banks). “From today, all payments shall be... 

Brazil's inflation at 12-year high

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Brazil’s inflation climbed above 10 percent in November reaching the highest level in 12 years. Brazil’s inflation climbed above 10 percent in November reaching the highest level in 12 years, the government announced on Wednesday. Consumer prices over the past month stood at 10.48 percent – a figure that was above expectations and could force tighter monetary policy despite a severe recession. The... 
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