America might punish S.Africa economically for supporting Russia and BRICS
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[At the source link of this, at the very bottom is a chart of South African trade. And the ranking is: EU, then China, then US, then UK. The EU is our biggest trading partner. Jan]The ECB’s latest financial stability review warned the eurozone cannot afford to be complacent in the face of new challenges and market pressures
May 31, 2023
The outlook for the financial stability of the eurozone remains “fragile” and financial markets are at risk of “disorder,” the European Central Bank (ECB) warned on Wednesday.
In its latest financial stability review, the ECB acknowledged that “sticky inflation,” “rising global risks,” and recession fears are contributing to market volatility
It highlighted that “tighter financial conditions,” notably the ECB’s decision to raise interest rates to 3.25 percent earlier this month, are “testing the resilience of households, firms, governments and property markets.”
The move to hike rates was intended to bring down inflation, which rose slightly last month to 7 percent, up from 6.9 percent in March; however, the decision is proving to be a difficult balancing act as lending activity has stalled and mortgage rates risk rising further, placing more financial pressure on households and businesses.
“Price stability is crucial for durable financial stability,” said ECB Vice-President Luis de Guindos in the review’s foreword.
“But as we tighten monetary policy to reduce high inflation, this can reveal vulnerabilities in the financial system. It is critical that we monitor such vulnerabilities and fully implement the banking union to keep them in check,” he added.
De Guindos expressed his confidence in the ability of eurozone banks to withstand any minor shocks to the banking sector, explaining that liquidity buffers and stringent regulatory oversight helped to make the EU banking system resilient. However, he also warned that these preventive measures “should not give way to complacency.”
The Hungarian leader offered his remarks during an interview with Hungarian state radio on Friday morning
While energy prices have fallen in recent months, reducing pressures on national governments to provide additional financial support, new challenges emerged with demands for new loans, mortgages in particular, declining sharply in the first quarter of the year.
The review found that house price increases across the eurozone have slowed so far this year; however, it warns this could “turn disorderly” if higher mortgage rates have a double-down effect on the real estate market and significantly reduce demand.
“Commercial real estate markets remain in a downturn, facing tighter financing conditions and an uncertain economic outlook, as well as weaker demand following the pandemic,” the review stated. “The ongoing correction could test the resilience of investment funds with interests in the commercial real estate sector.”
The two largest eurozone economies of France and Germany reported promising inflation figures on Wednesday. German inflation dropped from 7.2 percent to 6.1 percent in April, while inflation in France hit a 12-month low of 6 percent, leading the Governor of the Bank of France François Villeroy de Galhau to claim that inflation in the country has probably passed its peak.
Source: https://rmx.news/economy/eurozone-remains-fragile-as-recession-fears-reemerge-ecb-review-warns/
2008 Report: Russian Generals Analysis of a Future (Terrible) South African Civil War
This is an article an awesome American supporter, JoAn Wilcox found on a Russian website in 2008 and she translated it into English. This was a Russian General‘s assessment of SA. He was not impressed with the Blacks.
Who are we? Boers or Afrikaners? Answer from Dr Mike Du Toit
I had someone write to me about the topic of Boers versus Afrikaners. I decided to approach Dr Mike Du Toit, who was the leader of the Boeremag, and who is a professional academic who is very well versed in our history to answer this. Dr Du Toit not only knows our history in South Africa but also our history in Europe. This was his answer.
White Shop: Bumper Sticker: Rebel White Its a White thing, you wouldnt understand
These premium vinyl weatherproof bumper stickers are very durable and have an aggressive permanent adhesive that was created to withstand extreme elements. For indoor or outdoor use.
