European Union

• Oil slips toward $30, traders bet on more falls (Reuters)
• Oil Plunge Sparks Bankruptcy Concerns (WSJ)
• RBS cries 'sell everything' as deflationary crisis nears (Telegraph)
• World stocks drop but Europe shrugs off oil slide, China money market surge (Reuters)
• Canadian Stocks Fall in Longest Slump Since 2002 as Oil Slides (BBG)
• State of Union Speech to Note Work Yet to Be Done (WSJ)
• "Murderous" Yuan Rate Jolts Hong Kong as Top Currency Hub (BBG)
• Putin Says Sheltering Assad Would Be Easier Than Snowden Asylum (BBG)

Submitted by Nauman Sadiq

Islamic radicalism, a consequence of Petro-imperialism:

Brave New World of Bank Bail-Ins As Of January 1st

On January 1st, 2016, the new bail-in regime became law putting at risk the deposits of savers and companies in the EU.

"The Saudis are preparing for Iran’s return," said Mohamed Sadegh Memarian, who recently retired as the head of petroleum market analysis at Iran’s oil ministry, as they sharply cut the prices they charge for crude oil in Europe (to the biggest discount since Feb 2009). The move that will likely undercut Iran happens as sectarian tensions escalate between the rival Middle Eastern nations.

• China stocks tank, triggers circuit breaker (Reuters)
• Stocks Slump Across Europe and Asia Following Shanghai's 7% Crash (BBG)
• China Halts Stock Trading After 7% Rout Triggers Circuit Breaker (BBG)
• Iran says Riyadh thrives on tension after relations cut (Reuters)
• Saudis and Bahrain Face Off With Iran in Worst Clash Since 1980s (BBG)
• Syrian rebel group backs Saudi move to cut ties with Iran (Reuters)
• Iraqi Sunni mosques attacked in apparent retaliation for Saudi execution (Reuters)