Obscured by stock market hoopla, and under the leadership of our fearless Treasury Secretary Jack Lew, the G-20 finance honchos fret about faltering global growth.
Targeted by an ever tightening sanction spiral, Russian companies and individuals decided not to be sitting ducks.
The “faster rotating sanctions spiral with Russia” causes the worst plunge in the history of the German consumer index going back to 1980.
The folks at the German Finance Ministry belatedly follow WOLF STREET and admit that sanctions caused Germany’s economic swoon.
“The glue of the sanctions is starting to dry.”
The powerful engine that is supposed to pull Europe out of its quagmire? It stalls as the sanctions hit. The “disaster of 2008” is evoked, then hastily denied.
Germany has learned a lesson: it’s being hounded by a foreign corporation over its nuclear energy policy
European Council President Van Rompuy had a dream: the sanctions “should have a strong impact on Russia’s economy” but only “a moderate effect on EU economies.”
After a decent first quarter, a lot of iffy data has cropped up in Q2. Today, industrial output added to the woes. The weather got blamed … the warm weather in Q1 that caused the drop-off now! I mean, come on!
Putin is a master at this game. Even as the sanction spiral is supposed to strangle his ambitions for the Ukraine, he set up a photo op of incomparable ingenuity. And his confidant, ex-Chancellor of Germany Gerhard Schröder stepped in it with gusto.