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.
The fact the Saudi oil minister thinks oil prices will stabilize themselves shows that Saudi Arabia is not willing to intervene alongside the rest of the OPEC members to cut production, Jasper Lawler, analyst at CMC Markets, told RT.
If OPEC members decide to boost oil prices by cutting production, this may severely hit some of the cartel’s key customers in China and other Asian countries, Ed Hirs, Managing Director of Hillhouse Resources an oil investment firm told RT.
OPEC is not a monolithic organization and it fails to agree on common policy, so it’s unlikely that the upcoming Vienna meeting will become a deciding factor on oil prices, Adrian Salbuchi, International consultant, told RT.
The second poorest EU nation has taken a step towards civilization, the electorate delivering a blunt verdict on a dubious dysfunctional oligarchy passed off as a political system, and electing an ethnic German, Klaus Iohannis as the new president.
Russia is losing around $40 billion a year due to Western sanctions, but they are not as critical to the economy as lower oil prices, which add $90-100 billion in losses, says Russian Finance Minister Anton Siluanov.
Canada is moving toward American-style inequality, according to US economist Professor Robert Reich, as wealth concentration in the hands of a few and corporate tax breaks only further aggravate the country’s economic problems.
The modern world is interdependent and there is no guarantee that sanctions, a sharp fall in oil prices, or the depreciation of the ruble won’t backfire on those who provoked them, says Russian President Vladimir Putin.
It’s been a year since thousands of peaceful protesters took part in the initial Euromaidan rallies in Kiev, hoping for a brighter future. Since that optimistic start, the state has been torn to shreds and now its very future is in doubt.