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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (113148)	7/17/2010 3:11:57 PM
From: pogohere	Read Replies (1) \| Respond to of 116555

The bank stress tests loom large here and the Germans especially are cornered: they can't pass the tests but can't admit that; the Germans must resolve how they will take the hit: support the Euro and provide substantial support to the rest of the EU or turn east? Tooze wrote of the 1930s Germans in his "The Wages of Destruction" that the Germans knew their greatest competitor was the US, not the rest of Europe, but in the long run the Germans couldn't compete with the US without the energy and raw materials east of them, i.e., in Russia, et al. The Nazis determined to solve that problem with war. That option, turning east, is now available. German politicians feel the rise of German nationalism and will seek to hold power by gaming that somehow. Should the German high court rule that the credit facilities that the EU agreed on in May '10 violate the EU treaty and impermissibly afflict German sovereignty, the turn to the east becomes thinkable. Where was Merkel on May Day this year? Germany's Merkel to attend V-Day celebrations in Moscow German Chancellor Angela Merkel will attend a Victory Day Parade on Moscow's Red Square on May 9, a German government spokesman said on Friday. "Federal Chancellor Merkel will travel to Moscow on May 8 to take part in celebrations for the 65th anniversary of the end of World War II," Christoph Steegmans told journalists in Berlin, adding that the Chancellor was invited to the celebrations by Russian President Dmitry Medvedev. Large-scale military parades are held on Red Square on May 9 every year to commemorate Russia's victory over the Nazis in World War II. This year foreign troops will participate in the parade for the first time. The first parade in Moscow took place on June 22, 1945, marking the end of the war that claimed some 55 million lives. Other world leaders are also expected in Moscow for the Victory Day Parade. However, a Kremlin official said on Tuesday the leaders of Ukraine, Belarus, the United States and Britain will not attend the parade. en.rian.ru Germany, Russia to ink multibillion deals By NATALIYA VASILYEVA (AP) YEKATERINBURG, Russia — German Chancellor Angela Merkel and Russian President Dmitry Medvedev met Thursday for talks and are expected to oversee the signing of an array of deals between German and Russian companies worth billions of dollars. In one of them, Siemens AG and Russian Railways will sign a euro2.2 billion ($2.8 billion) contract for more than 200 new regional trains for Russia. Siemens earlier sold eight trains to Russian Railways that are now running between Moscow and St. Petersburg in Russia's first high-speed train route. The German company will also supply 54 commuter trains for the Winter Games in the Black Sea resort of Sochi. Germany is Russia's major trading partner with trade between the two countries topping $15 billion in the first quarter of the year. Addressing an annual German-Russian forum, Medvedev invited German firms to invest in Russian companies that last month were taken off the list of strategic enterprises and now have no caps on foreign investments and shareholding. They include airports and factories ranging from paper mills to train car makers. Merkel and Medvedev are also expected to discuss Russia-EU relations and international issues including Iran's nuclear program later on Thursday. Merkel pressed Medvedev on the issue of human rights in Russia at the forum. Thursday marks the first anniversary of the murder of prominent Chechen human rights activist Nataliya Estemirova. "It is important that Russia continues to investigate that murder," she said. "It is necessary that people who infringe human rights should face punishment." google.com China Becomes Germany's Most Important Trade Partner Businesses in Germany are starting to realize that, despite the Berlin-Moscow political relationship, it is China, not Russia, where the real money is to be made. From the Chinese perspective, it is Germany that is their biggest trading partner in Europe. Not only that, but the trade between the two countries is increasing at an amazing rate. For example, the German car industry has recovered in large part die to the surge of demand in China for top rated German cars. German companies in turn are investing heavily in programs to train computer experts and engineers in China as the industrial base of the country is steadily being upgraded. With the Chinese population at around one sixth of the world’s population, a middle-class that is expanding rapidly, and a leadership that is slowly but surely coming out of its intransigent past, heading towards a modernization program the like of which the country has never seen, it’s no wonder that Germany is excited by the prospects to come. “The potential is just huge for German companies,” said Philipp Ehmer, of Deutsche Bank Research. “China has to import investment goods, such as power machines, engines and electrical engineering equipment.” Russia may remain the most important trading partner with Germany, but China is fast becoming the country that will likely overtake it in the near future. inewsconnect.com