Anti-Russian sanctions are imposed as a hard neo-conservative lobby in America puts pressure on some European countries to go along with these sanctions, and to persuade other countries to do the same, journalist Neil Clark, told RT.
Greece will inevitably get a debt haircut as it’s not able to cope with the €240 billion bailout loan given by the EU, said Hugh Bronson from the Alternative for Germany party. No national structure is able to cope with that amount of debt, he added.
Mark Carney’s claim that Britain has escaped a “debt trap” common to Eurozone states has been dismissed by UK economist Michael Burke as “delusional.” Burke says Britain's debt has merely been transferred from private firms to UK homeowners.
The EU is expected to extend and add new sanctions against Russia Thursday. They could include blocking Russia from the SWIFT global payment network, or further actions to block Moscow from Western lending.
In the short-term being removed from SWIFT would be a problem for Russia, but in the long-term it’s an archaic analogue system for payments which should be replaced by fully digital technology, Patrick Young, expert in global financial markets, told RT.
While the West may try to slap Russia with more sanctions, the SWIFT banking payment system will try to stay out of political crossfire, economist Max Fraad Wolff told RT, adding that if it eventually gets weaponized, an alternative will emerge.
Iran and Russia are planning to switch their bilateral trade to national currencies for which the states will create a joint bank or a mutual account, Iran's ambassador to Russia, Mehdi Sanaei, has announced.
Russia’s response to a possible cut-off from the SWIFT international banking payment system will be “unrestricted,” Prime Minister Dmitry Medvedev vowed. The West is pushing for hitting Moscow with more sanctions as the Ukraine crisis deteriorates.