The attitude towards banks has deteriorated in Russia, according to a review of the National agency of financial studies (NAFI). Today 65% of the citizens of Russia trust in credit organizations (in 2013 -78%). Even fewer citizens trust in micro-financing institutions and non-state pension funds. According...
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The Nobel Prize winner Robert Shiller in his book Irrational Exuberance came to the conclusion that it is the irrational social psychology which is really guilty of economic bubbles. In his turn he predicted the collapse of the dot-com bubble and the housing bubble. However, as...
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The establishment on this week of the BRICS Development Bank and the contingency reserve arrangement (CRA) help promote a multilateral financial diplomacy advocated by China, writes People's Daily Online. In recent years, China's diplomacy has come under a lot of pressure. With the help of...
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The leader of the worldwide movement of MMM – Sergei Mavrodi declared about the launch of the Chinese version of the website. He also positively commented on the work of the MMM global team in other areas. In particular, an active growth of the system...
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The General Manager of the Bank for International Settlements Jaime Caruana recently warned that the global financial system is currently "more fragile" in many ways than it was just prior to the collapse of Lehman Brothers. Cited by The Economic Collapse he ominously declared that...
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Valentin Katasonv, the prominent Russian econimist, predicts the end of the institution of banking secrecy. He claimed about it in his article published on the Strategic culture Foundation website. He considers the signing of the declaration on the implementation of an automatic tax information exchange system...
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The new international financial institutions that Brazil, Russia, India, China and South Africa are creating this week at their summit meeting in Brazil, are more than just a political gesture: it is a threat to the global financial system and a bargaining tool, writes Bloomberg...
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The world has made progress in eradicating extreme poverty, but around one in five people in developing regions still live on less than $1.25 per day, according to the UN Millennium Development Goals (MDG) report 2014. Despite achieving the MDG goal of halving global poverty before...
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Standard & Poor's Ratings Services decided to settle a pending lawsuit with the U.S. Department of Justice (DOJ) and is open to paying about $1 billion to settle it, the Wall Street Journal reported. The DOJ filed a $5 billion lawsuit against S&P, a unit of...
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European Union must learn to appreciate the ‘Chinese model’, author of new report says. The “successful Chinese model” is increasingly being copied by other countries, an expert on EU foreign policy says. Stephan Keukeleire says this seems to be a “more attractive mode” for developing and...
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