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Archive for the tag “Cyprus”

Predictions from Davos

Terror attacks, geopolitical turmoil, volatile stock markets – it’s fair to say the year has got off to a bumpy start. But what will the rest of 2016 hold? While it’s notoriously difficult to make accurate predictions, some of the leaders in Davos had a go. Here’s what they think the next 11 months might look like.

Read Here – World Economic Forum

The Boiling Sea

So far, public debate about the intervention in Syria has centered on the immediate scope and aims of any U.S.-led military operation, and whether the U.S. Congress should be involved. But no matter how the possible intervention and its aftermath play out, one thing is certain: the eastern Mediterranean — where exploratory drilling has unearthed vast reserves of natural gas, and where competition over the rights to tap those resources is already fierce — will become less stable.

Read Here – Foreign Affairs

Southern Europe’s Downward Spiral

For years, European leaders have been trying to put a stop to the debt crisis that is tearing Southern Europe apart. It might be time to change strategy since little progress has been made.

Read Here – Der Spiegel

The Myth of Dirty Russian Money

It is not entirely clear yet when and how the Cyprus banking crisis will be resolved. But what is clear is that numerous institutional and individual Russian clients of at least two of Cyprus’ largest banks will incur serious losses because of frozen and lost assets. What lessons for the future can be learned already? The Cyprus banking crisis revealed just how deeply Russian business is distrusted in Europe.

Read Here – The Moscow Times

 

‘Europe’ Now Has a Soothing Ring to It?

Since Greece’s insolvent-grade financials first came to light, Europe has consistently and reliably emanated ripples of distress across the Atlantic. Recall the mini-panic of 2011, with its big selloffs in global markets. And periodic fears about the endearingly named PIIGS—Portugal, Italy, Ireland, Greece and Spain—sneezing their malaise onto France and beyond. Then there’s the latest bank-run-that-wasn’t out of Cyprus.

Read Here – Businessweek

Falling Interest Rates in Europe Aren’t Great News

If very high interest rates are bad for Europe, then very low ones must be good, right? Seems logical. Yet the big drop in yields on government bonds of Italy, Spain, Ireland, and Portugal isn’t entirely positive, especially for the European Central Bank.

Read Here – Businessweek

Beyond Chocolate, Cheese, and Banking

The whole of Europe seems to be in economic and political crisis. But there is a small area of calm at the continent’s core: Switzerland. Although much of what makes the country successful would not translate to the rest of Europe, the parts of its political framework that encourage popular legitimacy would — and they would go a long way toward solving other European governments’ problems.

Read Here – Foreign Affairs

What Europe’s Mistakes Teach Asia: WSJ

A Chinese proverb tells us that it is wise to learn from your own mistakes but wiser to learn from the mistakes of others. Asian leaders should take this advice to heart as they juggle between policies for social welfare and economic dynamism. By keeping a keen eye on Europe’s fiscal crises, they can avoid the worst of the Continent‘s productivity-reducing excess.

Read Here – WSJ Opinion

Forget Cyprus, The Real Savings Robbery Is In Britain

There are many reasons that the fate of Cyprus is being followed so closely in Britain. One is sympathy for those who are about to pay the price for the sins of a banking sector that was at one point seven times the size of the island’s economy. Another is shock at how the island, to which Britain granted independence just 53 years ago, now finds itself caught between Berlin, Moscow and Brussels. But the real lesson of Cyprus can be applied closer to home: when governments run out of money, they come after other people’s. Everyone is looking at Cyprus and asking: how safe are my savings?

Read Here – The Spectator

Why Moscow Is Playing the Long Game on Cyprus

Russia recently turned down a deal to save Cyprus’ banking sector. At first glance, the move looked like a huge strategic blunder. In fact, a credible offer was never on the table and Moscow needs no accord to secure its dominance on the island.

Read Here – Foreign Affairs

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