Qatar’s sovereign wealth fund will become the main purchaser in VTB’s secondary public offering, buying $1 billion of the available $3.3 billion shares. It may prove to be a difficult shareholder for Russia’s second largest lending bank.
Not only has social inequality risen in the industrialized nations over the past three decades, the economic crisis of 2008-09 sped up the deterioration as “pain of the crisis was not evenly shared,” a new report says.
Bitcoin threatens both the financial elite’s monopoly over the economy and the online web of payment systems which have been used as a tool to crack down on free speech on the Internet, Amir Taaki, a bitcoin software developer, told RT.
Governments and banking officials are watching Bitcoin in fear of losing their leading position to the virtual currency and the infrastructure building around it, Arwa Mahdawi, consultant, journalist and Bitcoin employee, told RT.
The crackdown campaign against the Bitcoin payment system was instigated by banks which see it as an “existential threat” to current financial system “crashing down and squeezing so much human energy out of our planet,” blogger Mike Gogulski told RT.
The establishment of ECB supervision is set to become a prerequisite for banks to receive direct loans from the European Stability Mechanism, the eurozone bailout fund. All 17 member states have endorsed ECB's regulatory role, but fear power may corrupt.