news

Global

Naked Capitalism piece on US economy and a potential recession (and how China and the rest of Asia factors in). If you, like me, have been monitoring headlines for the last few months you'd almost think that the mythical soft landing might actually finally happen. In reality, economic indicators lurk in the shadows, and not everybody even in the mainstream is convinced (the piece uses a recent Bloomberg article for example). The Financial Times is joining the party by predicting that they will not avoid a recession.^FT^

Michael Hudson: A BRICS+ Bank: How Would It Really Function?

Michael Roberts on all the myriad problems facing humanity right now.

Ten years of development: How BRI grows from vision to reality.

OPEC+ production has actually risen from August to September as higher output from Iran and Nigeria are offsetting Russia and Saudi Arabia's cuts.^MP^ Nonetheless, JP Morgan is predicting oil prices to keep increasing - even to $150 per barrel by 2026.^NC^

The WHO has authorized a second malaria vaccine, which is cheaper and more readily available than the first.^AN^

Foreign Exchanges' world roundups for October 3rd and October 5th. I have put the relevant sources in their respective sections down below for if I deem the news significant enough, but you may wish to look at their analysis anyway.

Europe:

The EU’s extractive trade policies in Tunisia contribute to migration.

The EU has endorsed a non-binding resolution to harmonise the rights of people with autism in Europe, recommending mutual recognition of diagnoses, better access to employment, and prohibition of forced sterilization.^Euractiv^ European house prices have recorded their first annual fall since 2014.^FT^ Europe’s solar power industry has warned policymakers not to impose tariffs on imports, amid fears that disrupting supplies of products from China would seriously damage Europe’s ability to rapidly install clean energy.^Euractiv^ Various European countries are planning to slash benefits for Ukrainian refugees.^WSWS^

Never warn European policymakers to not do something that will hurt them. They will do it to spite you. They are toddlers.

Andorran MPs have introduced a temporary ban on foreigners buying property, as it has been causing a housing crisis with the locals.^EN^

Planning permission has been granted for the world's first energy island project in the North Sea.^Euractiv^ The Belgian government suspended the reception of single male asylum seekers back in August, and most Belgians agree with the decision.^Euractiv^

Angry miners continue to block roads in Bulgaria over plans to abandon coal.^Euractiv^ Despite this, Bulgaria's government has adopted a transition plan in which coal mines will work until 2038 and there will be a "just transition".^BNE^

67 women in Greenland filed a request for compensation from Denmark, demanding over €40,000, as they were forced to receive an IUD during a campaign by Denmark to limit births in Greenland during the 1960s.^EN^

Finland faces autumn of discontent with strikes and protests over government's austerity budget.^EN^

Melenchon has visited Morocco in the aftermath of the earthquake and has called on the French government to stop being arrogant, giving lesssons, and looking down on people.^AN^ France has said that they could begin supplying arms to Armenia,^BNE^ and in response Aliyev is skipping EU talks.^Euractiv^ About 60 million ducks are to be vaccinated against bird flu in France over the next year, which should also prevent mass preventative slaughter of ducks.^DW^ Bird flu? Yeah, I sure hope it did.

German unity is "completed but not perfect", 33 years after reunification.^DW^ A Russian textbook has claimed that German unification was "annexation", which... yeah?^DW^ The Increasing Financialization of Germany German exports in August fell by more than expected, though the export balance in 2023 has been positive.^DW^ German is to reactivate some shut-down coal plants to save gas in the upcoming winter.^RT^ Germany is planning to stop funding Mediterranean sea rescue charities.^Euractiv^

Hungary may soon receive billions in EU funds, as Orban has stated that he will not agree to an increase in the EU budget until Hungary received that funding;^FT^ both Hungary and the EU have denied this.^BNE^ The government has asked banks to apply voluntary rate caps below the 13% base rate to boost the economy.^BNE^

Italian factories have been in a downturn for 6 months in a row.^RT^ Italian students are demanding more funding for education amid the cost of living crisis.^Euractiv^ A court has blocked the deportation of a migrant back to Tunisia, saying that it is not a safe country.^EN^

The Groningen gas field in the Netherlands has been officially shut down after years of only slight production due to earthquake fears which cumulated in the 2012 earthquake in which over 3000 homes had to be demolished due to earthquake damage.^EN^ The high number of Ukrainian refugees is putting pressure on asylum centers.^Euractiv^ One in four Dutch MPs live with some form of protection due to death threats.^EN^

Half of young Ukrainians living in Poland intend to return home after the war, and the overwhelming majority believe that Ukraine will win the war.^BNE^ Hundreds of thousands of people have demonstrated in Warsaw against the far-right-wing party PiS, called for by Donald Tusk, the leader of the right-wing party PO (as well as other parties).^WSWS^

The number of young Portuguese homeowners has halved in 20 years.^EN^

NATO has send 600 UK soldiers to Kosovo.^DW^

Moldova is preventing members of the banned pro-Russian party from running in local elections for other parties or as independent candidates.^Euractiv^ Moldova's president has claimed that Prigozhin planned a coup to remove her, bribing voters and encouraging protests to turn violent.^FT^

Fico from the anti-Ukraine Smer party has won a sizable lead in the Slovakian elections, prompting celebration from Hungary and concern from Europe.^Euractiv^ Fico has received a mandate from the president to form a new coalition government.^EN^

In Spain, Pedro Sanchez is the next in line to try and form a government after Feijoo's attempt failed,^DW^ and has been given the mandate by the King,^Euractiv^ and thus may snatch victory from the jaws of defeat.^RNN^ Sanchez admits that he is negotiating an amnesty law for Catalan separatists.^Euractiv^ Heatwaves and drought have halved Spanish olive oil production, leading to a massive increase in price even in Spain.^EN^ Spain has launched its first private rocket.^DW^ Nearly a thousand migrants landed on the Canary Islands this week.^Euractiv^