Gefira #17 The disintegration of the West: Europe

Description

Although Europe still remains one of the wealthiest and best-organized regions of the globe, there are visible political and economic cracks.
The disintegration of the European Union is inevitable; France and Germany, once the leading nations, are themselves in full decay. While the Germans saw themselves holding the high moral ground by letting
in one million Africans and Asians, their Eastern neighbours in particular watched in horror, so much so that their opinion was not sought. In this Gefira we take a closer look at the events as they are unfolding now. Europe, driven by a suicidal ideology which, to top it all, is implemented by a weak leadership, is heading for a geopolitical, demographic and economic crisis. Tension is building up not only along the continent’s borders but also in European nations, leading up to secession movements inside the Union (Brexit) and inside individual EU member countries (Scotland and Catalonia). In order to defuse the euro crisis, the new French president wants to further EU integration while more and more Europeans are losing faith in Brussels’ bureaucracy and its failed leadership.

Will the yuan win the currency war?

For the last weeks the world’s geopolitical situation has been deteriorating because of the tensions around North Korea and renewed talks about re-imposing sanctions against Iran. The sanctions imposed against Kim Jong Un’s regime do not affect Europe or the United States, but are unacceptable for China, which is North Korea’s almost exclusive supplier of goods. We did not need to wait long for the response: China introduced oil futures contracts, payable in the yuan, which could be exchanged for gold on stock exchanges in Shanghai and Hong Kong.18 By using these contracts the United States dollar as well as the economic sanctions against Russia and Iran can be bypassed. Read more subscribe: