A modest increase in interest rates could render almost 25 percent of UK households in severe financial stress, according to a report published on Thursday. The Bank of England (BOE) has confirmed that such rate hikes are imminent.
There is a huge risk for the EU that Russia continues its pivot process that is already seen in terms of oil and gas pipelines and general trade as Russia switched to China, South Korea and Japan, expert on global financial markets Patrick Young told RT.
Greece has become a social experiment for the implementation of the most extreme neo-liberalism aimed at not contaminating the eurozone during the first period of the crisis, with the same policies being followed now, Greek MEP George Katrougalos told RT.
The global economy is more vulnerable than it was just before Lehman Brothers collapsed says the Bank of International Settlements (BIS), the international finance watchdog, citing even higher debt ratios and emerging market involvement.
The West is now starting to move to its final decay, with the Russia-China alliance becoming stronger, offering Latin America and other regions a multipolar model of the world, author and international consultant Adrian Salbuchi told RT.
The US Federal Reserve said it could end the controversial five-year-old ‘quantitative easing’ program that has pumped about $4 trillion into the US economy as early as October, if there are no signs the economy is still in trouble.
French financier Jean-Baptiste de Franssu has been appointed the new President of the Vatican bank. It is part of the major overhaul of the bank to restore its reputation after a long list of money laundering scandals.
The US mixes trade with politics using the dollar as a weapon in sanctions against Iran and Russia, trying to restrict these nations’ access to the US dollar, which creates mass imbalances, Chairman of the Bruges Group think tank, Robert Oulds, told RT.
Western support will allow more IMF and European lending to prop the Ukrainian currency so the Ukrainian oligarchs can move their money safely to British and US banks, economist and author Michael Hudson told RT’s Truthseeker.