Following a string of scandals, bad investments and woeful risk management, Switzerland’s second largest bank, Credit Suisse, is close to the edge.More
Colombian President Says the Unspeakable Out Loud: “The US is Ruining Economies Around the World”
Until recently Washington’s closest ally/client state in South America, Colombia is now under new management. And that management has a different perception of US influence in Latin America and the wider world. More
Italian Utility Giant Enel Needs a €16 Billion Lifeline, as its Derivatives Hedges Backfire
Enel is one of 70 energy companies in Italy that could end up needing a state-guaranteed credit line, as derivative hedges blow out. Which is likely to place even further pressure on the finances of Europe’s most indebted large economy. More
EU Commission is Pushing EU Countries to Accept Joint Gas Purchases, Just As It Did With COVID-19 Vaccines
That those vaccine purchases are now under investigation by EU Public Prosecutors doesn’t seem to matter. The Commission wants a direct role in EU Member States’ purchases of gas and, if possible, weapons.More
A Central Banker in Finland just told Finns to Stash Up on Cash, Just in Case of Disruption to Payments System
Finland, like its Scandinavian peers, is among the world’s most cashless economies. But according to the central banker, now is not a good time to give up on cash.More
Protests Rage Across Europe, as Sanctions-Fuelled Inflation Surges and Economic Crisis Deepens
The long-anticipated “hot autumn” begins as the European economy teeters on the edge of a largely self-inflicted stagflationary depression.More
IMF Just Flagged Another Multi-Trillion Dollar Threat to the Global Financial System: Open-End Funds
Open-end funds have grown significantly over the past two decades and now manage around $41 trillion in assets globally. And the risks they pose to the global economy are growing, says the IMF. More
Pressure Rises on Von Der Leyen as Pfizer CEO Backs Out of Testifying to EU Parliament Covid Panel
“After von der Leyen’s silence, Bourla had the opportunity to set the record straight in the European Parliament, but he preferred to slip away. Why all these secrets? What do they have to hide from European citizens?” More
European Systemic Risk Board Issues First Ever “General Warning” about “Financial Stability Risks”
The European Systemic Risk Board is essentially an offshoot of the European Central Bank. And central banks are normally the last to admit that a crisis is around the corner, if not already here.More
Fast-Shrinking TBTF Giant Credit Suisse is Living Dangerously
Time, money and options are fast running out for Switzerland’s second largest lender, Credit Suisse.More
Nick Corbishley 