Soros and the European Court of Human Rights: a sentence for insider trading and two judges associated with Open Society.

This article is based on the research by Francesca Totolo, which appeared on

In 1988 George Soros bought a participation in Société Générale, the French banking colossus privatized the previous year. The value of the stock of the bank would see a quick, significant increase that resulted in the French judicial opening an investigation for insider trading. George Soros joined the list of the people investigated in 1993 and finally in 2002 he was awarded 2.2€ million by the French court.

Unsatisfied with the judgment, George Soros appealed to the European Court of Human Rights in 2006; the final sentence arrived in 2011, the ECHR ruled against the billionaire. Continue reading

Ethnic tensions and Trump’s militarist flirt: the decline of the West accelerates.

How many times in history has a regime facing internal difficulties sought military adventures to “unite people behind the flag”? This time, it’s America’s turn.
The first 6 months of the Trump presidency have been characterised by an increase in ethnic tensions as US demographic shifts towards “white minority” with a significant ”Hispanic” population. The demographic change has been hailed by the Democratic Party and corporate America which promptly adopted ”identity politics” as a core ideology, exalting the individual if he (or she) belongs to an ethnic, religious or sexual minority: in practice, however, this translates into depicting “Blacks” and “Hispanics” as “oppressed”, “whites” as “oppressors” and “Asians” as “too good”, which is why discrimination against them in academic admissions is justified. Inevitably the vilification of the whites paved the way for “pride” demonstrations and the return of “white nationalism” as evidenced by the recent Charlottesville clashes. Continue reading

US sanctions: the first step to an all-out trade war on Europe

The US announces a set of far-reaching sanctions against European companies that are doing business with Russia. These sanctions forced American jurisdiction on Europe, and is an attack on the sovereignty of European countries. These sanctions will have consequences for European companies, citizens and politics because European countries import 25% of their, 30% of their oil and 35% of their gas from Russia. The announced measures are the beginning of a trade war, Germany’s Minister for Economic Affairs Brigitte Zyries warned. In the Gefira (subscriber’s version) we already warned that a trade war is broadly supported by the US establishment.
On July 26, 2017, the House of Representatives accepted the bill that imposes new sanctions on Russia. Earlier, on June 15 that same year, Senate almost unanimously passed the new act, which forbids cooperation with Russia in the field of natural gas and crude oil extraction technologies and is thus aimed at not only Russian but also Western companies which cooperate with the former, and these include Gazprom, British-Dutch Royal Dutch Shell, German Uniper, Austrian OMV, French Engie (dawne GDF Suez), German Wintershall, all of which participate in the Nord Stream 2 project and again Gazprom, Wintershall, Engie as well as German E.ON and Dutch Gasunie, which are engaged in the earlier Nord Stream. The same measures will threaten the Zohr gas field project in Egypt (where Rosnieft has 30%, Italian ENI 60% , and British BP 10% shares), the development of the Sakhalin liquefied gas plant (Gazprom and Shell), the Blue Stream trans-Black Sea gas pipeline project from Russia to Turkey (ENI and Gazpromu) and the project of building the LNG terminal in the Gulf of Finland (Gazprom and Shell), as well as the project of importing to the European Union the Shah Deniz natural gas field in Azerbaijan (Lukoil and BP).The stakes are high. Continue reading

Shale gas extraction in Poland: is there any hope left?

Ten years have passed since the first concession to search for shale gas was issued. There were several problems of technological, economic and legal nature, which prevented Poland from becoming potentate in extracting this resource. It may seem that Poland missed its chance. However, monitoring and using new methods of shale gas production together with legal framework implementation, which would encourage the investors, can mark a new chapter in history of the Polish gas industry.

Shale gas in Poland: from euphoria to disappointment
According to the data provided by the Ministry of Environment the first concession to search for shale gas was issued in 2007, and the first drilling took place three years later. In the peak moment in 2012 111 exploration concessions were in force.This year was also marked by the publication of the Polish Geological Institute, in which the deposits were estimated at 346-768bn cubic metres.In 2011 the Polish Prime Minister anticipated that the commercial production of shale gas will have begun after three years.According to the observers, for instance former Minister of Economy Janusz Steinhoff, thanks to shale gas extraction Poland would have an opportunity to become independent of its imports while causing the lowering of prices on the domestic market.

Yet, in 2015 foreign investors started to withdraw and Polish state companies PGNiG and PKN Orlen abandoned their projects last year. Continue reading