IMF coached Greek journalists on spin

The Greek authorities want to investigate alleged misconduct by a number of journalists who attended seminars organized by the IMF and were allegedly instructed to promote the organization’s advice to Greece.

The accusations were voiced by Greece’s former representative to … Read the rest

Solar panels can power the world says MIT study

An MIT report has found that regular solar panels like the ones used today could supply much of the world with power. They believe terawatts of energy could be produced by 2050 and say that investment, not technology, could be … Read the rest

Russia asks Greece to join BRICS bank

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, India, China, South Africa, a Greek govt official says in e-mail to … Read the rest

France, Germany, Italy join China’s Infrastructure Investment Bank

France, Germany and Italy have confirmed they’ll join China’s new Asian Infrastructure Investment Bank (AIIB). Participation in the rival to the US-led World Bank is seen as a setback for the Obama administration.

The three European countries on Tuesday confirmed … Read the rest

‘The goal of sanctions is a color revolution in Russia’

The goal of Western economic sanctions is a “color revolution” in Russia, Russian Academy of Sciences presidium member, academician Yevgeny Primakov is convinced. He told TASS in a jubilee interview of conspiracy theories around oil prices, the U-turn of Russia’s … Read the rest

America usurped: China becomes world’s largest economy

Last week the International Monetary Fund updated its data on the world economy. For the first time it ranks China’s economy as the world’s biggest in purchasing-power-parity terms.

Historians, though, point out that China is merely regaining a title that … Read the rest

Will China enter the heart of global finance?

The issue of whether the Chinese should be part of the International Monetary Fund’s Special Drawing Right, the composite reserve currency used in official financing, is highly technocratic, but the political questions at stake go to the core of world … Read the rest

Emerging markets eye renminbi as alternative to dollar

With some effort, it is possible to discern the outline of a future “renminbi zone” emerging as a rival to the “dollar zone” that has dominated the world’s financial system since the end of the second world war.

Though still … Read the rest