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Having cornered the central banker market, with its alumni manning key positions at most central banks, Goldman has decided to tip its cards into its next zone of interest: geopolitics, and has done so by hiring none other than the former head of the European Commission, Jean-Claude Juncker’s predecessor and one-time Nigel Farage nemesis, Jose Manuel Barroso as an advisor and non-executive chairman of its international business.
Barroso served as president of the European Commission, the EU’s executive arm, from 2004 to 2014 and was prime minister of Portugal from 2002 to 2004.
Here we go again …
Unless they are tilting at windmills, the rhetoric this morning from Ukraine’s defense minister is the strongest and most actionable yet. Via his Facebook page, Valeriy Galetey accused Russia of “open aggression,” and explained that:
- *RUSSIA SHIFTED TO ‘FULL-SCALE’ INVASION OF DONBAS, GELETEY SAYS
- *UKRAINE HALTS ATTEMPTS TO DISLODGE REBELS: DEFENSE MINISTER
- *UKRAINE SHIFTS FOCUS TO HALTING RUSSIAN INVASION, GELETEY SAYS
Earlier in the morning, US Senator Bob Menendez said he has “no doubt Russia has invaded Ukraine,” and following Ukraine requests for assistance from Europe and US, NATO responded by noting a reaction force or 3-5,000 can be ready in 48 hours.
– EU leaders draw up plans to send gas to Ukraine if Russia cuts off supply (Guardian, March 7, 2014):
Europe braced for possible battle with Moscow after Gazprom threatens to cut off gas supply if Ukraine does not pay bill
EU leaders are rapidly drawing up plans to send some of their stocks of Russian gas back to Ukraine and other eastern European countries that need it, if Vladimir Putin reacts to western sanctions over the Crimea crisis by starving the continent of energy.
Russia’s largest gas producer, Gazprom, said on Friday that Kiev had missed a deadline to pay $440m for gas received in February and threatened to cut off the country’s supply if it did not make the payment.
– The Chart That Shows Why EU’s Barroso Is A Liar (ZeroHedge, Jan 19, 2014):
Despite record levels of unemployment across Europe (most specifically among the youth), record high (and surging) levels of loan delinquencies, and collapsing credit creation, the leaders of the EU continue to peddle their own brand of dis-information and willful blindness. While UKIP’s Nigel Farage tongue-lashings are normally enough, EU’s Barroso this morning unleashed the following:
- *EU’S BARROSO SAYS ECONOMIC GROWTH ‘SLOWLY RETURNING’
- *EU’S BARROSO SAYS EU AT TURNING POINT IN CRISIS
However, as the following chart of earnings estimated for European firms shows, there is absolutely none, zero, nada sign on a ‘turning point’ and, as we have noted previously, unless the EUR weakens significantly, Europe will rapidly dip back into re-re-recession once again.
– Rampapalooza As Cyprus-Troika Reach Deal (Updates) (ZeroHedge, March 24, 2013):
UPDATE: It appears the ‘deal’ to default/restructure the banks has been designed to bypass the need for parliamentary votes, since it is theoretically not a tax.
While we have little color on what kind of carnage the President of Cyprus had to accept to his fellow countrymen, the news is that :
- *CYPRUS, TROIKA REACH AGREEMENT IN PRINCIPLE, EU OFFICIAL SAYS
- *DEAL MADE AT DINNER WITH DRAGHI, LAGARDE, VAN ROMPUY, BARROSO
The terms, unsurprisingly what zee Germans wanted, are:
i) Laiki to be wound down;
ii) Bank of Cyprus to survive but with deposit haircuts, and
iii) deal would see secured deposits in Laiki moved to Bank of Cyprus.
In other words, a deal far worse then the original on proposed by the Eurogroup last week – when the banks still existed. The key appears to be the ‘saving’ of the insured depositors (crucial to avoid a pan-European bank run) and the crushing of the ‘whale’ depositors.
– The euro crisis is over, declares José Manuel Barroso (Guardian, Jan 7, 2013):
The euro has been saved and the euro crisis is a thing of the past, European commission president José Manuel Barroso has declared.
But his optimistic comments and the prospect of looser rules for banks failed to lift markets, which ended a strong run of recent gains.
“I think we can say that the existential threat against the euro has essentially been overcome,” Barroso said in Lisbon. “In 2013 the question won’t be if the euro will, or will not, implode,” he said.
Gerald Celente, the founder of the Trends Research Institute, at the Marriott Hotel in Munich, Germany, on November 3rd, 2012. Celente was holding a presentation later on on the Internationale Edelmetall- und Rohstoffmesse, the largest precious metals conference in Europe. You can find Gerald Celente at trendsresearch.com and trendsjournal.com.
YouTube Added: 25.10.2012