ITALY - Italian banks are following similar patterns that drove the eurozone financial crisis an economics correspondent has warned. European Central Bank supervisors were this week ordered to take charge of an Italian bank, Banca Carige. BBC’s economics correspondent Andrew Walker warned that some banks in Italy were at risk of following similar patterns which fueled the eurozone crisis five or six years ago. He said: “We have had news that a bank, Carige, has had administrators appointed by the European Central Bank. The first time it has done that.” The lender has lost 90 percent of its value as stocks in the Italian bank plunged on the Milan stock market.
NETHERLANDS - The Netherlands have exposed a growing division in the European Union after refusing to take in migrants who were rescued in the Mediterranean unless other member states are willing to do the same. The Netherlands became embroiled in a stand-off over the onboard conditions after initially refusing to accept the rescued migrants, which includes four women and seven children, four of whom are unaccompanied. Italy, Malta and Spain were also involved in the row after refusing to take in a number of those on board Sea-Watch 3. The European Commission, Brussels’ powerful executive, are working with EU countries in order to end the deadlock. So far Brussels has failed to develop a group-wide policy that enables the fair distribution of migrants across the bloc with EU countries relieving the burden on southern states.
USA - It is the most totalitarian form of blacklisting: not just to be prevented from speaking on a university campus, or to be kicked off social media, but to be shut out of the entire financial system. That is the terrifying new threat to freedom that western societies must now contend with.
EUROPE - EU moves to outlaw the word “mankind” because it starts with “man”. Liberal dogma now dictates that words beginning with the letters “m-a-n” are now “gender-biased” tools of the patriarchy which must be criminalized — at least in the European Union. The EU has decided to ban the use of “gender-biased” words and will be moving towards more gender neutral language. The outlawing of gender-specific language and more is all part of the new paradigm laid out in their new guide, Gender Neutral Language In The European Parliament.
USA - The beginning of a new year is supposed to be all about hope, right? And I would certainly like to tell you that 2019 is going to be America’s best year ever and that everybody is going to receive a double portion of blessing, prosperity and happiness, but that simply would not be true. Unfortunately, the truth is that the elements for a “perfect storm” are rapidly coming together and 2019 is going to be an exceedingly challenging year.
USA - While Washington is locked in tough trade talks with Beijing, China is also on the mind of the acting Defense Secretary Patrick Shanahan who reportedly told civilian leaders at the Pentagon to focus on the country. Less than two days on the job, Shanahan – previously deputy defense secretary to James Mattis, who departed on Monday – told the leaders to remain “focused on ongoing operations” but “remember ‘China, China, China,’” an anonymous official told Reuters.
USA - US President Donald Trump has rejected criticism his approval ratings in foreign countries are low, pointing out that he was elected by the United States, and if he pursued policies that were popular in European capitals he’d be failing in his job as President. The comments came during Tuesday’s cabinet meeting at the White House, where the President sat with a stylised Game of Thrones-style poster highlighting his warning to Iran that “Sanctions are Coming”.
EUROPE - Growing instability in the eurozone could trigger the break-up of currency bloc this year, a top think tank has warned. “Internal contradictions” would force the region to “integrate economically” or dissolve, the Centre for Economic and Business Research said in its annual predictions for 2019. “It is possible to defer the confrontation for a year or two but the boil will have to be lanced at some point since the Italians have clearly reached the point of austerity fatigue.”
USA - Stock markets are crashing all over the world, we are seeing extremely violent “flash crashes” in the forex marketplace, economic conditions are slowing down all over the globe, and fear is causing many investors to become extremely trigger happy. The stock market crash of 2018 wiped out approximately 12 trillion dollars in global stock market wealth, but things were supposed to calm down once we got into 2019. But clearly that is not happening.
USA - In only three months, Apple has lost $452 billion in market capitalization, including tens of billions on Thursday as the tech giant's stock sank further. Apple shares have fallen by 39.1 percent since October 3, when the stock hit a 52-week high of $233.47 a share. With its market cap down to about $674 billion, those losses are larger than individual value of 496 members of the S&P 500 — including Facebook and JP Morgan. Microsoft, Amazon, Alphabet and Berkshire Hathaway are the only S&P 500 members with larger market caps than Apple's loss since its recent high. Apple stock closed Thursday trading down 10 percent at $142.19 a share.
USA - The Facts: The 9/11 Truth Movement has opened an avenue to prosecuting those responsible for the shocking destruction of the World Trade Center and the horrible loss of life that resulted. A US attorney will be taking evidence to a special grand jury.
Reflect On: This is a citizenry movement, one that relies on citizens and regular professionals taking action. It's great to see initiative being taken in a world of censorship. This isn't a democracy, if it was, this information would be public, not ignored.
UK - We can only leave the transition positively with a deal. But we sign away the money. So the EU has no need to give us a deal, and certainly no incentive to make the one they offered ‘better’ than the backstop.
EUROPE - The Eurozone’s twentieth anniversary celebrations have received a frosty reception from critics and experts after Jean-Claude Juncker and Brussels' team lauded the single currency bloc’s creation. Celebrating the anniversary, he said: “Twenty years on, I am convinced that this was the most important signature I ever made. The euro has become a symbol of unity, sovereignty and stability.” Mario Draghi, the Italian president of the ECB, also hailed the single currency as a “necessary consequence of the single market”.
CHINA - Beijing has a devastating plan to force the world out of the East and South China Seas — and it could cost the US 10,000 lives. They’re the pride of the US fleet: enormous 100,000 tonne, 333m long nuclear-powered aircraft carriers. But Beijing thinks they’re Washington’s achilles heel. Rear Admiral Lou Yuan has told an audience in Shenzhen that the ongoing disputes over the ownership of the East and South China Seas could be resolved by sinking two US super carriers.
CHINA - Beijing and Tokyo sealed a multi-billion dollar currency swap arrangement on Friday, aimed at enhancing financial stability and spurring business activity in both countries. According to the Bank of Japan (BOJ), the arrangement which will last until October 25, 2021, will allow the exchange of local currencies between the two central banks for up to 200 billion yuan or 3.4 trillion yen ($30 billion). The agreement was sealed during Japanese Prime Minister Shinzo Abe’s visit to Beijing for the first formal Sino-Japanese summit in seven years. The meeting comes as Asia’s two biggest economies look to strengthen relations against a backdrop of trade friction with the United States.
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The views expressed in this section are not our own, unless specifically stated, but are provided to highlight what may prove to be prophetically relevant material appearing in the media.