On the eve of the meeting of European heads of state scheduled for the next week, the European Commission (EC) presented a "road map" for deepening the economic and monetary integration of the Union. Proposals include, inter alia, the creation of the European Monetary Fund (EMF) on the basis of the European Stability Mechanism (ESM) - the decision should be approved by the EU Council and the...

It's been six months after the start of the crisis in the Persian Gulf, caused by the rupture of relations between Qatar and its neighbors, and finally the isolated emirate achieved the first diplomatic victory. Emir of Qatar Tamim bin Hamad Al Thani participated in the 38th summit of the Cooperation Council of the Arab States for the Persian Gulf (ПСС) on December 5-6 in Kuwait City. He was...

After long months of defeats, Trump managed to pass through the Congress an important bill on tax reform. However, this achievement will not save the White House from the dangerous Russian theme, and threatens with new problems in the future. On the night of December 2, the US Senate, by a fragile majority of 51 votes against 49, supported the bill on tax reform. This is the first major...

President of Venezuela Nicholas Maduro declared his intention to create a state crypto currency El Petro to bypass US sanctions and "strengthen monetary sovereignty." While the national currency of the country, Bolivar, is rapidly losing its value in the conditions of hyperinflation, its crypto-analogue will be secured by oil, gas, gold and diamond reserves. It is not specified how exactly this...

Against the backdrop of the conflict between Turkish President Recep Tayyip Erdogan and the Central Bank of the country, economists are discussing scenarios of possible problems associated with the credit boom in Turkey. The state has been stimulating credit growth for ten years. In recent years it resulted in growing inflation and, apparently, weakening of the Turkish lira. Polemic of the...

The European Central Bank (ECB) should complete a program of monthly purchases of assets in December, according to most economists surveyed by Reuters. The experts differ in opinions on the question whether the regulator will go for it. Most respondents believe that the ECB's quantitative easing program (QE) will be completed by the end of next year, and only a few reckon that this will happen in...

Launch of the original version of the Trans-Pacific Partnership (TTP), a trade agreement between the 12 countries of the Pacific region, is technically impossible. For the agreement to entry into force, members that make up at least 85% of the total GDP must ratify it. Three days after the beginning of his presidency, Donald Trump announced withdrawal of America from the agreement. Since the...

American sociologists have presented three scenarios for the growth of the Muslim population in Europe. In Germany, the share of Muslims in the total number of the population may increase more than threefold. The number of Muslims in Europe will increase dramatically over the next 30 years. This is evidenced by the data of the study of the American sociological center Pew Research Center,...

The 19th Congress of the Communist Party of China, which ended last month, showed that the new administration of Xi Jinping will restrain growth of debts by abandoning the country's long-term economic goals, and by reducing the growth rates of its gross domestic product. As a rule, analysts proceed from the fact that the presented changes in GDP parameters reflect the movement in the sphere of...