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Eurostat discovers that the EU has at least €12.5 TRILLION Debt

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The 28 member states of the European Union (EU) have a total debt burden of €12.5 trillion, which could be even bigger, according to the latest figures from the EU statistics office, Eurostat. Data shows that in the third quarter of 2017 the EU’s debt-to-GDP ratio fell from 82.9 percent to 82.5 percent when compared with the same quarter of the previous year. Greece’s general government-debt-to-GDP... 

Anti-Immigration "Czech Trump" Wins Elections With Major Victory

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Andrej Babis even has a trophy wife younger than him by 20 years (Monika Babišová) just like Donald Trump. With over 99 per cent of the vote counted, the party of the former communist who has now turned into populist Czech billionaire described by some as the ‘Czech Trump’ has achieved a considerable victory in the national legislative elections — with the mainstream left Social Democrat party... 

Euro could collapse in 18 months, predicts Trump's pick for EU ambassador

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Brexiteer professor Ted Malloch, who is likely to become the United States ambassador to the European Union, has predicted the looming failure of the single European currency. In an interview with the BBC, Malloch predicts the euro “could collapse” in the next 18 months. “I think it is a currency that is not only in demise but has a real problem and could in fact collapse in the... 

EU Sanction Portugal for "Spending Too Much On Football" after Winning Euro 2016

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Eurozone finance ministers will decide on Tuesday whether to sanction Spain and Portugal for breaching EU spending rules. The people who are planing to sanction Portugal and Spain are mostly of French origin. What a bunch of sore losers! This is exactly why the EU is bad! Why would the EU dictate to other countries how much they should be allowed to spend on football? Its their country they should... 

British Pound Goes to Toilet as Bankers Manipulate Markets after Brexit

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Following the British vote to leave the European Union, markets around the world slipped into free fall on Friday. Sterling fell to a low not seen since 1985, far below its value during the 2008 financial crisis. It lost parity against the dollar and the euro, but Mark Carney, Governor of the Bank of England and Chairman of the G20’s Financial Stability Board, said not to worry. The bank announced... 

Putin drafts bill to dump Dollar and Euro

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Russian president Vladimir Putin has proposed a bill to the country’s legislature to eliminate the dollar and the euro from trade between member states of the Commonwealth of Independent States (CIS). A statement from the Kremlin said that Putin submitted to the State Duma a draft federal law which seeks an integrated currency market in the CIS. “This would help expand the use of national currencies... 

Bulgaria to deny entering Eurozone

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The Bulgarian journalists have reckoned how much is an average country citizen poorer than that of a neighbouring Greece. It turned out, that average income of the Greeks have been 3,5 times higher against that of the Bulgarians for some years. In 2013, for example, an average annual income of a Greek resident made up €8,879, that is 17,366 Bulagarian Leva. An average Bulgarian citizen got only... 

Recent economic signs indicate yet another recession looming

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Stocks traditionally show weakness from May through October. Stocks hit their lowest point of the year on October 27th. Moreover, the Dow Jones Industrial Average began plunging right at this time of the year just prior to the financial crisis of 2008. Most people do remember the huge stock crash that happened in the fall of that year, but the market actually started to slide in May. Throughout the... 

What Will Happen To You When The Dollar Collapses?

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Historically, when a nation’s debt exceeds its ability to repay even the interest, it can be assumed that the currency will collapse. Typically, governments exacerbate the situation by printing large amounts of currency notes in an effort to inflate the problem away, or at least postpone it. The greater the level of debt, the more dramatic the inflation must be to counter it. The more dramatic the... 

France unveils multibillion euro saving plan to cut budget deficit

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France has unveiled a multibillion euro cost cutting plan to be executed over two years in order to press down its deficit below the European Union’s cap. The Finance Ministry revealed on Wednesday that the country would be shaving €9 billion (USD 9.60 billion) off costs through the plan. Accordingly, some €4 billion (USD 4.26 billion) will be trimmed from the budget this year, including through... 

Euro falls to 11.5-year low against US Dollar

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The euro has dived to its lowest level against the dollar in 11.5 years after the European Central Bank (ECB) announced a new stimulus program. On Friday, the euro dropped to USD 1.0963 in currency trade markets, marking the lowest level since September 2003. The record low came a day after a meeting by the ECB governing board in the Cyprus capital Nicosia, during which the central bank announced... 

Why is Dollar strong despite US's 18 trillion debt?

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The dollar shows a steady growth with regard to other until recently stable world currencies. But is the dollar that strong? After all, the U.S. has a state debt of 18 trillion dollars and can declare a technical default at any moment. Recent rise of the Swiss franc showed that the dollar is far from being a safe haven for investors. Global capital flows are extremely unstable It is important to understand... 

​Latvia joins Eurozone despite majority of Latvians opposing

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Latvia has celebrated the New Year by joining the eurozone, becoming the 18th member of the Europe-wide currency bloc. However, recent opinion polls show that a majority of Latvians oppose the move, with just one-fifth strongly in favor. The euro switchover ceremony took place Jan. 1 at the HQ of the state-owned Citatele Bank – the lender reconstituted from the collapsed Parex Bank, where Latvia’s... 

Yuan outperforms Euro, becomes 2nd most popular trade finance currency

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The yuan has replaced the euro to become the second most widely used currency in global trade in 2013, according to the SWIFT network responsible for international financial transactions. The share of the yuan in global trade finance has jumped from 1.89 percent in January 2012 to 8.66 percent in the form of letters of credit and collections in October 2013, the Society for Worldwide Interbank Financial... 

Europe hasn't even begun to tackle its problems yet

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In order to deal with its economic problems and further develop, Europe needs to deregulate its market and cut bureaucracy, but it does exactly the opposite, Chris Clarke, from Nottingham Trent University Business School told RT. In Clarke’s opinion, Europe is not even making an attempt to do the right thing to turn-around its economic woes. RT: Greece is the worst-hit in these latest figures and... 
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