The financial crisis in Europe is prompting some nations to repatriate their gold reserves to national vaults. The Netherlands has moved $5 billion worth of gold from New York, and some are calling for similar action from France, Switzerland, and Germany.
Kiev is enforcing an economic blockade on eastern Ukraine, where banks are closed and cash machines and credit cards aren’t working. Disrupted social payments to the elderly have become the most acute issue.
US prosecutors are set to travel to London in the forthcoming weeks to probe City traders about currency market manipulation. However, British prosecutors are yet to file a criminal charge against UK financiers who rigged the rates.
The BRICS Bank marks a major step to de-dollarization, and a new monetary system. It should replace the Western-dominated “predatory casino scheme” that has contributed to world wars and “economic terrorism,” says former World Bank economist Peter Koenig.
Scotland’s biggest bank is getting around to making amends for an IT crash in 2012 that left millions of its customers without access to their accounts for weeks. It will dish out $88 million (£56 million) to pay for its mistake.
Angela Merkel has criticized Vladimir Putin’s, apparent, strategy to spread Russia’s sphere of influence in Eastern Europe. The Chancellor doesn't acknowledge that Germany’s domination of Europe has been disastrous for some states.