28/03/2015

Russia to Join Chinese led Asian Infrastructure Investment Bank

by John Galt March 28, 2015 10:05 ET And now the circle is complete. With the United States following, not leading, it’s European banking allies into the Chinese created AIIB alternative to the IMF/World Bank cartel, it was only a matter of time before Russia joined. As of today, Russia has indicated they are joining the bank and since they already have a currency exchange agreement with China the Russians might hold a little bit more influence than the US government or Federal Reserve. From RT today: Russia to apply for…


Fitch Continues the Downgrade Parade Reduces Greece to Junk Status Down to CCC

by John Galt March 28, 2015 09:00 ET In preparation for the impending Grexit, Fitch has decided to downgrade Greece further into junk status by reducing the rating on their credit quality to ‘CCC’.  From the Greek Newspaper Ekathimerini: Fitch downgrades Greece amid bailout uncertainty (excerpted) Ratings agency Fitch has downgraded Greeces sovereign rating amid growing uncertainty over the new government’s pledge to overhaul reforms needed to restart bailout loan payments and avoid default. The agency late on Friday said it had lowered the country’s rating deeper into non-investment grade status…


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