The risk of political instability in Saudi Arabia always goes along with a spike in the oil price as it has been the largest producer of crude oil in the world, Amir Handjani, lead director at RAK Petroleum, told RT.
Ukraine’s $3 billion debt to Russia could undermine the IMF’s four-year multibillion dollar bailout program. If the debt is considered official, it will breach the terms of providing financial assistance, said IMF spokesperson William Murray.
The US was forced to change its mind over cooperating with the China-led development bank after its allies refused to join a boycott, which is a sign that dollar hegemony is not lasting, Lew Rockwell, chairman of the Ludwig von Mises Institute told RT.
International rating agency Moody's has downgraded the long-term issuer rating of Ukraine to the second lowest Ca grade from Caa3, leaving the outlook negative and a high possibility of the country’s imminent default.
What Greece is trying to achieve negotiating with the EU is to have time and political space in order to implement a social program of reform, Greek Minister or Administrative Reform George Katrougalos told RT.
Germany says it wants Greece to remain part of the eurozone and wants good relations with its fellow EU member. However, Chancellor Angela Merkel concedes Athens must commit to implementing structural reforms to pay back the bailout money.
The situation in Spain is deteriorating as the money it got from Europe went to bailing out banks which continue to foreclose homes, but not help ordinary people, anti-austerity activist Clara Valverde told RT.
Moscow insists that besides a possible discount, the gas price formula and the existing contract with Ukraine should remain the same until the standing contract’s expiration. Russia, Ukraine and the EU Commission agreed on a new round of talks next month.