By James Burgess of OilPrice
Did Italy And Malta Actually Agree To Swap Oil Rights For Refugees?
As the Syrian refugee crisis reaches a critical impasse, both in terms of European security and refugee human rights, Brussels has found itself having to deny accusations of a secret pact between Malta and Italy to swap refugees for oil exploration rights.
The market's slumberous levitation of the past month, in which yesterday's -0.3% drop was the second largest in 4 weeks and in which the market had gone for 15 consecutive days without a 1% S&P 500 move (in March 2015 the sasme streak ended at day 16) may be about to end, after an overnight session, the polar opposite of yesterday's smooth sailing, which has seen a sudden return of global risk off mood.
Submitted by Mike "Mish" Shedlock of Mishtalk
Italy’s Interior minister Angelino Alfano warns the refugee “system is at risk of collapse” following an 80 per cent spike in the number of arrivals to Italy across the central Mediterranean Sea in the first quarter of this year compared to 2015.
Alfano fears that Syrians headed for Turkey will inetead head for Libya for an even more hazardous Mediterranean Sea crossing to Italy.
“There is no way a man like Donald Trump has any business being president,” the man told me. “You can’t talk like he does and expect people to give you the authority to run the country. The problem is that there is nobody to vote for. Look at all the rest of them running. This is the first time in my life that I don’t feel confident voting for anybody for president.”
And later, with a look of pained resignation on his face: “I tell you, people who don’t think this country is in serious trouble don’t know what they’re talking about. You can see it all over. It’s unwinding.”
Submitted by Jeffrey Moore via GlobalRiskInsights.com,
In the 14th century, the Medici family of Florence began its rise to prominence, investing profits from a thriving textile trade to fund what would become the largest banking institution in Europe. The success of the legendary banking family helped to usher in the Italian Renaissance and thus change the world. Now, Italian banks seem poised to alter the world yet again.