You are here

Germany

Delayed Consequences: Germany Angers Turkey With Genocide Vote

Delayed Consequences: Germany Angers Turkey With Genocide Vote

Submitted by Michael Shedlock via MishTalk.com,

A year ago, Germany’s Green Party wanted to hold a vote on responsibility for the Ottoman massacres, a systematic expulsion and annihilation of over 1 million ethnic Armenians in 1915.

Germany delayed the vote, not wanting to upset Turkey... until yesterday, when Germany held the vote, upsetting Turkey much more.

After a near-unanimous vote, Turkey recalled its ambassador to Germany calling the vote, “null and void”.

Turkey Recalls Ambassador From Germany After Bundestag Acknowledges Armenian "Genocide"

Turkey Recalls Ambassador From Germany After Bundestag Acknowledges Armenian "Genocide"

Moments ago, in a move that will infuriate Turkey, the German parliament withstood a barrage of pressure from the Turkish government, and approved a symbolic resolution that declares the 1915 massacre of Armenians by Ottoman Turkish forces a ‘genocide’, a step widely viewed as a tacit escalation against Turkey.  The vote was almost unanimous in supporting the resolution with just one MP voting against and another abstaining. The move was largely expected and was supported by German Chancellor Angela Merkel.

Global Markets Flat, Coiled Ahead Of Today's Risk Events: OPEC And The ECB

Global Markets Flat, Coiled Ahead Of Today's Risk Events: OPEC And The ECB

There are just two drivers setting the pace for today's risk mood: the OPEC meeting in Vienna which started a few hours ago, and the ECB's announcement as well as Mario Draghi's press statement due out just one hour from now. Both are expected to not reveal any major surprises, with OPEC almost certainly unable to implement a production freeze while the ECB is expected to remain on hold and provide some more details on its corporate bond buying program, although there is some modest risk of upside surprise in either case.

Pages