International Finance & Ethics: The exposing of corruption continues… today is Greece and Germany.
Yesterday was Brazil, and today is two more countries under scrutiny. It’s been in alternative news sources for weeks and months: Speaking about how companies out of integrity will be exposed, and it seems the flow is just beginning. Doesn’t it feel that way to you, also? Almost daily now, I’m coming across story after story of government or corporate leaders being charged for their wrongdoings. Hallelujah …finally, it feels like things are starting to shift to a point that is undeniable to many people.
Of course, we will continue to lean toward caution. So many of us have been researching and studying this type of information for so long that any little inkling looks and sounds promising, and then …nothing happens. Or so it seems that nothing is happening, because on the surface –and according to mainstream media– life continues as normal without any overt evidence of major changes.
To clarify, things are happening: A lot is happening, yet we also learned from “jumping the gun” in the past. So bear with us as we continue to report on what is being released, connecting the dots when we are able …the whole time trusting in our heart-of-hearts that promised change progresses ever forward behind closed doors –whether or not it’s being reportedly publicly.
“Greek authorities have indicted more than 60 people to stand trial over an alleged bribery scandal 17 years ago, involving a telecom contract for German industrial giant Siemens AG. An investigation found that the Greek state lost some 70 million euros from the 1998 sale of equipment from Siemens to Greece’s dominant telecom operator, OTE. A panel of judges decided Monday that 64 Greek and German nationals should stand trial for bribery or money laundering. The suspects include former Siemens and OTE officials, and the former treasurer of Greece’s once-prominent Socialist party. Two of the main suspects have fled Greece, while others live in Germany. No trial date was set. The charges carry a maximum 20-year prison sentence.”
Greek Authorities Indict 64 Over Siemens Bribery Allegations by US News.
International Finance: Boosting economy in the Eurozone.
European Central Bank (ECB) began buying government bonds pouring $1.2 trillion into their economy designed to boost their financial affairs and revive the economy. Of course, there’s one question that I have: How does it work?
1. “The ECB, and national central banks in the eurozone, are creating new money to buy bonds at a monthly rate of 60 billion euros. The purchases are intended to continue until the end of September.” With interest rates basically at 0%, the ECB hopes this will decrease borrowing costs, not only for businesses but also for households, across Europe effectively stimulating economic growth.
2. How will this make a difference? “Bonds have surged … in Germany now yield just 0.3% — that’s nearly 2% less than the equivalent U.S. Treasury…. That eases the budget pressure on governments across Europe. Ireland, which emerged from its international bailout just over a year ago, can borrow at 0.8%. The prospect of a flood of new euros has helped in other ways, too. The currency has slumped 10% against the dollar in 2015 to trade at an 11-year low of $1.09, and may be heading for parity. That has the twin benefits of making European exports cheaper on world markets, and driving up the cost of imports — giving a kick to eurozone prices, which have been falling for three months.”
3. How will this help Greece? It doesn’t, for now. Only countries who are not currently receiving bailout funds are eligible. Mind you, Greece’s bailout negotiations was just extended by four months. This may be revisited once Greece is meeting the terms of their bailout.
Europe Finally Starts Pumping Markets With Cash by Mark Thompson. CNN Money.
If your situation is particularly challenging at the moment, then please remember that this too shall pass!
Across this beautiful world, We Are All One.
Gavin