Greeks Rejected By IMF And Russia

Greek hopes of an extension to pay 747 million Euros after May 12 are rejected by the IMF. Christine Lagarde states that no payment delays have been granted by the IMF in the last 30 years. And that it is the job of Greek financial ministers to carry on the tedious work of restoring the Greek economy. It is not done by a political last minute agreement. Christine Lagarde lays out the … [Read more...]

Russian Sanctions Likely To Remain In Effect, But Ineffective

Peter's Commentary: The economic sanctions that have been imposed on Russia are likely to remain in place. At least until the cease-fire in Ukraine is working properly. Angela Merkel stated today that it would be premature to ease any pressure on Moscow at this stage. European governments have been trying to decide whether to renew the sanctions, which are currently due to expire at the end of … [Read more...]

ECB Preparing For Grexit

Peter's Commentary: The Germans are getting mighty tired of Greece. Especially with their World War 2 Reparations talk. A poll published by Germany's YouGov.de showed that public opinion has turned against Greece dramatically during the last month. The number of Germans in favor of a Grexit rose from 48% to 59% in the last 30 days according to an online survey of 1012 people. If Greece does … [Read more...]

Ukraine Preparing For Full Scale War…Or Not?

Peter's Commentary: Ukraine's Deputy Foreign Minister, Vadym Prystaiko says he is preparing for full-scale war against Russia. Prystaiko wants Canada to supply lethal weapons and training to Ukraine. From CBC News, February 21, 2015: Vadym Prystaiko, who until last fall was Ukraine's ambassador to Canada, says the world must not be afraid of joining Ukraine in the fight against a … [Read more...]

Enforce Cease-Fire Or Not?

Peter's Commentary: The four leaders of Germany, France, Russia and Ukraine talked by phone this Thursday. They condemned the fighting which has broken out during the week and agreed to continue to implement all the measures approved on 12 February in Minsk. However, Bloomberg reports that Germany may be unable to stop weapons being delivered to Ukraine. Karl-Georg Wellmann, a lawmaker in … [Read more...]

Iraq Situation Report, February 14 – 16

Peter's Commentary: Here's the latest Iraq Situation from UnderstandingWar.org. It details fighting and skirmishes that have occurred in Baghdad and north of Baghdad.  Major clashes are marked by red asterisks on the map. On February 15, ISIS executed 15 Peshmerga members they had captured previously. The situation in Baghdadi, (250 miles west of Baghdad), remains unclear; this is … [Read more...]

3 Possible Outcomes For Greece

Peter's Commentary: Three possible outcomes for the Greek situation... From ZeroHedge, Tyler Durden, and Bloomberg, Vassilis Karamanis, February 17, 2015: When it comes to trading the possibility of a Grexit, Bloomberg strategist Vassilis Karamanis writes,that there are three possible outcomes. Scenario 1: Greece exits the euro Probability of Grexit is now increased to 50% … [Read more...]

Threat Of Nuclear War Heats Up

Peter's Commentary: The threat of a nuclear war is now higher than during the Cold War. From Der Spiegel, Markus Becker: The Ukraine crisis has dramatically worsened relations between NATO and Russia. With cooperation on nuclear security now suspended and the lack of a "red telephone," experts at the Munich Security Conference warn any escalation in tensions could grow deadly. The … [Read more...]

Cease-Fire Agreed Over Ukraine

Peter's Commentary: A cease-fire agreement over eastern Ukraine has at last been worked out. It took more than 18 hours of nonstop negotiation. Ukraine's Poroshenko, Russia's Putin, Germany's Merkel and Francois Hollande agreed to a truce that starts at 12 AM on February 15. The US was notably absent from the negotiations. Due to other cease-fires not working in the past, there are doubts … [Read more...]

Greeks Threaten To Use Plan B

Peter's Commentary: The Greeks are pushing hard. They want a new agreement with the euro zone. The Greek Defense Minister Panos Kammenos threatened that they could always look somewhere else for help. "What we want is a deal. But if there is no deal - hopefully (there will be) - and if we see that Germany remains rigid and wants to blow apart Europe, then we have the obligation to go to Plan … [Read more...]