Europe

Black Money In France “At The Center Of Life For Politicians”

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Someone in the French government deleted 3,300 French names from a purloined list of accounts at HSBC Switzerland. Their revelation would have left the despised French “political class” red-faced and in deep trouble.

How the BBC Over-Egged UK Retail Sales … And The World Soaked Up Every Word

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By John Ward, The Slog: The BCC misread and misreported UK’s so-so December retail sales as “the fastest annual sales growth in more than nine years.” It was picked up by Bloomberg, CNBC, Reuters…. everywhere. Actual retail recovery? Not so much.

Impunity and Excess, Desperation and Violence: Two Worlds Collide in Spain

by Don Quijones •  • Comments Off on Impunity and Excess, Desperation and Violence: Two Worlds Collide in Spain

By Don Quijones: Normally these two worlds co-exist relatively peaceably, barely cognizant of the other’s existence. Every now and then, their paths may intersect, only to quickly decouple. But this week they suffered a head-on clash.

German Economy Wobbles Between Shrinkage And Stagnation, Stocks Soar

by Wolf Richter •  • Comments Off on German Economy Wobbles Between Shrinkage And Stagnation, Stocks Soar

Since 2012, German economic growth has been back where it was when Germany was called the “Sick Man of Europe.” Only this time, Germany has been anointed the model economy for others to follow and admire.

Lies, Damned Lies, and Banks: Deutsche Bank’s Whitewash Of “Senior Management”

by Wolf Richter •  • Comments Off on Lies, Damned Lies, and Banks: Deutsche Bank’s Whitewash Of “Senior Management”

Germany has its own JP Morgan, mired in a swamp of sordid scandals, investigations, lawsuits, and fines. Now a letter by the banking regulator was leaked that blasts Deutsche Bank’s internal investigation of the rate rigging scandal as a senior management whitewash.

Financial Tiki-Taka: Ugly Side of the ‘Beautiful Game’ in Spain

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By Don Quijones: On the surface and on the pitch, Spanish football has never been better. The national team of once-perpetual underachievers has won two European Championships and one World Cup in the last six years, a feat unmatched by any other European nation.

The Most Despised Tax-And-Retreat French President Has ANOTHER Plan

by Wolf Richter •  • Comments Off on The Most Despised Tax-And-Retreat French President Has ANOTHER Plan

President Hollande has a solution to France’s economic quagmire, with odds like a lottery. He’d launch a “responsibility pact” – one of his many phrases to haunt him later. It would be a radical shift. When you come to the end of your bumpy road, veer to the right.

Death By A Thousand Cuts: The Silent Assassination Of European Democracy

by Don Quijones •  • Comments Off on Death By A Thousand Cuts: The Silent Assassination Of European Democracy

By Don Quijones: The EU is riddled with fatal flaws and defects, including the single currency. However, by far the greatest — and certainly most dangerous — structural flaw is its gaping democratic deficit.

LEAKED Confession: Cesspool Of Greek-German Corruption

by Wolf Richter •  • Comments Off on LEAKED Confession: Cesspool Of Greek-German Corruption

Apparently, it has been impossible to sell Greece any weapons at all, not even a water pistol, without bribing officials at the Defense Ministry. But it takes two to tango. And in holier-than-thou Germany, the defense industry has been all too eager to dance with Greece.

Epic Duel In Spain Between The Politically Connected CEO Of A Collapsed Bank And A Judge

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By Don Quijones: In most places these days, it’s probably easier to pass a camel through the eye of a needle than it is to pass a corrupt CEO of a failed bank through a wide-open prison gate. But a judge in Spain tried – and it’s costing him dearly.