The European Central Bank (ECB) gave the Left and their allies meeting in Davos, Switzerland, everything they could have hoped for with the announcement that they have agreed to print $1.13 trillion of new cash to buy the national debt of their insolvent members. But “hidden within the announcement is evidence of Germany’s weakening commitment to the European project,” according to Stratfor.
Miss Lebanon may lose her title over selfie with Miss Israel; Lebanon on edge after Israeli air strike kills Hezbollah commanders; Europe, under intense financial pressure, expected to start quantitative easing
The European Constitutional Court of Justice ruled the European Central Bank (ECB) has unlimited authority to massively inflate the euro. The Swiss National Bank (SNB) was forced to drop its fixed exchange rate for the nation’s “franc” currency.
China’s Producer Price Index (PPI) that measures the price changes for the goods and services produced by the nation has fallen for 32 straight months. As the factory to the world, China has been exporting deflation. The economic impact has been increasing the real burden of debt, driving down worldwide wages and discouraging consumption.
Germany’s Chancellor Angela Merkel has reportedly said that she’s prepared to support Greece leaving the eurozone, and returning its original drachma currency, if Greece abandons the austerity commitments it made in return for the 240 billion euro bailout that has already been paid.
