Europe

Authored by George Soros, originally posted at NYBooks.com,

The asylum policy that emerged from last month’s EU-Turkey negotiations - and that has already resulted in the deportation of hundreds of asylum seekers from Greece to Turkey - has four fundamental flaws.

First, the policy is not truly European; it was negotiated with Turkey and imposed on the EU by German Chancellor Angela Merkel.

 

Second, it is severely underfunded.

 

Submitted by Jeffrey Snider via Alhambra Investment Partners,

Submitted by David Stockman via Contra Corner blog,

Written by David Haggith - The Great Recession Blog

Just about every major banker and finance minister in the world is meeting in Washington, D.C., this week, following two rushed, secretive meetings of the Federal Reserve and another instantaneous and rare meeting between the Fed Chair and the president of the United States. These and other emergency bank meetings around the world cause one to wonder what is going down. Let’s start with a bullet list of the week’s big-bank events:

With the ECB now unabashedly unleashing a bond bubble in Europe of which it has promised to be a buyer of last resort with the stronly implied hint that European IG companies should issue bonds and buy back shares, and promptly leading to the biggest junk bond issue in history courtesy of Numericable, it will come as no surprise that the world once again has a debt problem.