Tuesday, February 14, 2017

Tuesday roundup (02-14-2017)

Fuelling the Frexit fire: Now EU DEMANDS France increases austerity amid deficit breach: FRANCE'S new president could be forced to roll out harsh austerity measures after it was revealed the country is set to breach rules set out by the European Union (EU). (The Express)

Greece defies creditors over more cuts as economy shrinks unexpectedly: Athens’ refusal to further austerity intensifies standoff over €86bn aid package that requires government to implement economic reforms (The Guardian) Greek Bailout Impasse Needs More Talks, Eurozone Chief Warns: The eurozone's top official said Tuesday that next week's meeting between Greece and its international creditors will not yet provide a full breakthrough on the country's bailout program because more negotiations on reforms are needed. (The Associated Press) Austerity-weary farmers hold protest march in Athens (euronews)

Greece is set to ditch the Euro in favour of US dollar [= "some" economists are discussing doing this] in devastating move which would 'freak out' Germany and humiliate EU, claims Trump's pick for Brussels envoy (The Daily Mail)

Could Greece Be The Trigger Of The Next Financial Crisis? (The Daily Caller) Greece Has One Foot Out EU Door, But It Is Italy Where Concern Should Be Focused (ValueWalk)

[The United States] National Security Council in turmoil amid Flynn departure (PBSNewshour)

‘Unbelievable Turmoil’: Trump’s First Month Leaves Washington Reeling (The New York Times)

Trump's Red Line Was Just Crossed And He Blinked: The Geopolitical and Economic Fallout (Forbes)

Ethics office calls on White House to discipline Conway (The Hill)

Credit Suisse to cut up to 6,500 jobs after reporting $2.4 billion loss (CNNMoney)

     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.

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