Europe

The European Union have confirmed that an EU army will be up and running by 2017, and leaders have warned that Brexit is to blame for its creation.  Britain will be liable to fund the £420m-a-year ‘Super Army’ due to the fact that its creation occurred before the UK invoked Article 50. Express.co.uk reports: Brussels politicians convened in the French city of Strasbourg to thrash out the plans that will cost taxpayers’ £420m-a-year. They will vote on the issue to establish an “EU-wide system for the coordination of rapid movement of defence forces personnel” across Europe later today.

Over the weekend we reported that as Obama was speaking at the APEC summit in Peru, hoping to salvage his global trade legacy, the TPP, China's President Xi Jinping officially called for the launch of the Free Trade Area of Asia-Pacific for "institutional guarantee of open economy", a move many had expected would take place as China was eager to fill in the void left by the US in any trans-Pacific trade treaty.

Today Credit Suisse released its latest annual global wealth report, which traditionally lays out what is perhaps the biggest reason for the recent "anti-establishment" revulsion: an unprecedented concentration of wealth among a handful of people, as shown in its infamous global wealth pyramid, an arrangement which as observed by the "shocking" political backlash of the past few months suggests that the lower 'levels' of the pyramid are increasingly unhappy about.

Submitted by Soeren Kern via The Gatestone Institute,

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