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...]

China’s SWIFT System Ready To Launch By October

Peter's Commentary China has just completed its alternative to the SWIFT system for international payments. It will be ready to launch this in September or October this year. From ZeroHedge, Tyler Durden, March 9, 2015 One of the recurring threats used by the western nations in their cold (and increasingly more hot) war with Russia, is that Putin's regime may be locked out of all … [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...]

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...]

European Countries Fracture Over Ukraine

Peter's Commentary: Europe is no longer following the US's stance regarding Ukraine. NATO Secretary General Stoltenberg stated on Sunday that each NATO country should decide whether to supply weapons to Ukraine. From ZeroHedge, Tyler Durden, February 9, 2015: The headlines are coming thick and fast but most prescient appears to be: Despite John Kerry's denial of any split between … [Read more...]

Ukraine Heats Up

Peter's Commentary I don't care whether it's Russia or America that is the aggressor, I just wish we could all calm down about the Ukrainian situation. The last thing I want to see is a"hot" Cold War. US Considering Sending Lethal Arms The New York Times reported on Monday that the United States is considering supplying arms and equipment to the Ukrainian Army. This is due to increasing … [Read more...]