Oriental Review

Is BRICS Challenging the West?

The fourth BRICS summit representing Brazil, Russia, India, China and South Africa was held on March 28-29, 2012 in New Delhi. Despite the limited timeline, its results might be defined as outstanding. In any case it’s obvious that the leaders of the member countries had no intention to confine themselves to purely symbolic resolutions, so [...]

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Currency Warfare: What are the Real Targets of the E.U. Oil Embargo against Iran?

Who is the European Union’s so-called “oil embargo on Iran” really aimed at? This is an important geo-strategic question. Aside from rejecting the new E.U. measures against Iran as counter-productive, Tehran has warned the member states of the European Union that the E.U. oil embargo against Iran will hurt them and their economies far more [...]

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US Will Punish Its NATO Allies, Not Iran

Will the economies of Greece and Italy finally collapse without Iranian oil? Having declared that the US-EU friendship will depend on whether Brussels supports Washington in its bid for imposing sanctions against Iran, the US president left Europe with no choice. The European Union, desperate to at least slow down the pace of the Eurozone’s [...]

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International Rating Agencies Back Up US Dollar

Standard and Poor’s is warning that a credit rating downgrade might loom on the horizon for the EU as a whole, which is predictable news considering that 15 Eurozone countries have already ended up on the agency’s review list. The current round of hammering Europe is taking from the US rating agencies leaves little doubt [...]

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Washington’s European Strategy

The November 28 US-EU summit deserves to be called a milestone in the recent geopolitical history, considering that during the forum the US dictatorial handling of Europe was disguised so thinly for the first time since President Obama moved into the White House. Moreover, the US Administration openly cited its domestic-policy regards – the prospects [...]

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Marine Le Pen: «We Have Never Been Wrong»

It is hard to tell which of the two emotions – national pride or indignation over obvious injustice – fuels the revival of the Europeans’ unique national spirit. This year the process which the European political class is desperately trying to impede manifested itself in a pattern-setting array of political developments. In Finland, the True [...]

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Is Euro Becoming «Contageous»?

For quite a time history of economic crises was able to do with a brief list of vivid images. The term «Black Thursday», for instance, has unequivocally meant the exchange collapse of 1929 for many years. Yet the time went by, crises took place all the more often and now it’s difficult to understand without [...]

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EU – Summit on the Titanic’s board

European leaders delayed the Friday’s Summit, two days after the EU Finance ministers reunion did not reach any result on Greece. In addition, the German chancellor, Angela Merkel, was crucial in resisting pressure for a meeting on Friday, arguing that it would be too early to deliver the comprehensive package of measures needed to restore [...]

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Default by Greece and the US

In mid June Alan Greenspan, former Federal Reserve chairman, said a default by Greece is “almost certain” and could help drive the US economy into recession. Greenspan’s loud statement on Greece may be a “sound curtain” to prepare the global community to a default by the US… First – a few key dates. June 14, [...]

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This Is How the Old World Ends

Maksim Kalashnikov (Russia) The second global crisis tsunami: the Group of Seven and Greece. When will the national debt bubble burst? The national debts of the rich Western countries are growing rapidly. The IMF has sounded the alarm: they will reach 110% of total GDP by 2014. The forecasts of those predicting a terrific explosion [...]

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The Impending Economic Defeat of the West

Gulam MITHA (Canada) Credit Default Swaps (CDS)—what are they? They’re compared to like buying fire insurance on your neighbour’s house — you create an incentive to burn down the house. Except its not the neighbour’s house but the debt the neighbour has taken on. The higher the debt, higher will be the insurance premiums. So [...]

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