As Protests Continue In Yerevan, Russia Concedes To Armenia On Soldier Murder Case

Russia has agreed to let Armenian courts try a Russian soldier accused of murdering seven members of an Armenian family after deserting Russia’s major military base in the country. The move is a major concession by Moscow, and comes as large-scale street protests in Yerevan against Armenia’s Russian-owned electricity company have been gathering strength. Source EurAsiaNet

 

Armenia: ‘Electric Yerevan’ protest continues as Russian propaganda blames US

Street protests that have engulfed Armenia’s capital, unsettled Russia and raised the concern of rights groups were poised to continue as the government refused to reverse a rise in electricity prices. Thousands of people blocked Yerevan’s main street, for a fourth consecutive day divided from police by a barricade of trash containers. Source International Business Times

A Greek Euro is not the Same as a German Euro.

Varoufakis, the Greek minister of finance, is one of the few who does understand monetary policies. He has no problem with expressing his opinion. His visions will be determining for the future of the EMU, the European Monetary Union. The current Greek government seems not willing to play the game of extend and pretend. The confrontation between Greece and Germany is not only about those two countries, it is about the EMU at large.
Whatever the outcome of the negotiation end up to be, the euro crisis will not be solved within the coming weeks. In the oncoming days it will only be decided if and how Greece is able to break the German hegemony on European Monetary policy. If Greece is being forced to leave the Euro zone, it will cause a huge damage on Greece and the EMU. If Greece is staying in the Monetary Union, Greeces current political leaders will keep challenging Germanys financial leadership.


Varoufakis at US conference in 2012 about; Greece, the Euro, and the failing European policy.

The Euro as an unified currency has already ceased to exist, in modern societies the Banking system is the backbone of its monetary system. Almost all transactions are done through banks and not with cash. Most corporate and private savings are stored at banks deposits. One has to realize that the euro is not about notes and coins, but about bank accounts and bank transactions. It is not the paper euro that matters, but the Euro as a deposit at a bank account. It is not hard to see that one euro on a Greek Bank account has a lower expected value than one euro on a German Bank account. Without the willingness to create a real single currency, the EMU is at risk.

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