US Fears Losing Greece to Russia

Throughout the prolonged showdown between Greece and its creditors, the Obama administration has largely sat on the sidelines, issuing the occasional warning about the potential economic impact of a default. But with Greece now on the verge of bankruptcy, the US is also beginning to worry about the political fallout from a deeper crisis and the potential for Russia to gain increased influence over a Nato member. As Washington tries to maintain a united western front in support of sanctions on ...
More

IMF to FED: Delay Interest Rate Increase

http://www.youtube.com/watch?v=PxOILDkU-8Q The Federal Reserve should delay raising interest rates until the first half of 2016, the International Monetary Fund said as it cut its U.S. growth forecast for the second time this year. The lender also said that the dollar was “moderately overvalued” and a further marked appreciation would be “harmful,” in a statement released in Washington on Thursday on its annual checkup of the U.S. economy. “We still believe that the underpinnings for ...
More

Russia Invites Greece to Join BRICS

As if the discussions in Brussels and Athens were not mired in enough uncertainty, Bloomberg reports that a Greek official confirms: *STORCHAK ASKED TSIPRAS FOR GREECE TO JOIN BRICS BANK: OFFICIAL The pivot appears to continue. Reportedly, Tsipras was pleasntly surprised by the proposal. As Bloomberg reports, Russian Deputy Finance Minister Sergei Storchak spoke with Greek PM Alexis Tsipras today, proposed that Greece become 6th member of New Development Bank set up by Brazil, Russia,...
More

Japan Holds more US Treasury Debt than China

Japan overtook China in February as the top foreign holder of U.S. Treasury securities, a position Japan last held in August 2008. In its monthly report on bond holdings, the Treasury Department said Wednesday total foreign holdings of Treasury debt dipped 0.9 percent in February to $6.16 trillion, down from a record of $6.22 trillion in January. The holdings of China, normally the top holder of Treasury debt, slipped 1.2 percent to $1.22 trillion. Japan's fell 1.1 percent from January. Ch...
More