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.
The Pentagon says US spending to help Afghanistan will no longer be made public. Data had been published over the last six years explaining how the $65 billion program had been spent, however this will now cease, with the US citing “security concerns.”
The White House will be seeking $561 billion from Congress to run the Pentagon in 2016 – its largest budget ever. However, a research and advocacy director told RT that the budget is closer to $1 trillion, and has been for several administrations.
US-based credit rating agency Standard & Poor’s has cut Russia’s sovereign rating to BB+, leaving it below investment grade for the first time in a decade. Moscow termed the decision "overly pessimistic."
The mew Greek Syriza government has failed to explain where it will get the money from to end the austerity policy, as it is impossible to wave a magic wand overnight and fix the problems easily, economist Nick Skrekas told RT.
Japan’s government has approved its largest military budget in 70 years, in contravention of the country’s pacifist constitution, in a display of force to its highly militarized neighbors. The extra military spending comes amid a stalling economy.
India wants France to stick to the original terms of its deal to buy Rafale fighter jets, or it might call it off. If the manufacturers fail to comply, India may opt for the Russian designed Su-30 currently being produced domestically.
The oil price crisis has sparked a wave of cut backs and redundancies at the British oil giant BP. The price of Brent crude oil has fallen below $50 a barrel for the first time since May 2009 – after a steady decline over recent months.