Tuesday, December 24

Author: Patti Mohr

Patti Mohr is a U.S.-based journalist. She writes about global diplomacy, economics, and infringements on individual freedom. Patti is the founder of the Global Economic Report. Her goal is to elevate journalistic principles and share the pursuit of truth in concert with others.
Fate of Greece in Limbo After Voters Choose ‘No’ to Debt Deal
6Jul By Patti MohrNo Comments
Currency, Debt, National Budgets & Interest Rates, Democracy, Europe, EU, Eurozone, Types of News: Analysis

Fate of Greece in Limbo After Voters Choose ‘No’ to Debt Deal

A day after an unprecedented referendum in which Greek voters rejected an offer by creditors to continue their bailout of the country's finances in exchange for strict economic reforms, the fate of Greece and its proud people lie in deep uncertainty. With a vote of 61-to-29 percent, the Greeks resoundingly said "no" to their European partners' plans to continue financing Greek debt under the condition that Greece would pass more "austerity" measures such as cuts to pensions and spending programs and increases in the value-added tax. Now, though everyone seems to deny the possibility of a Greek expulsion from the 19-member common-currency Eurozone, the path to keeping Greece in the union isn't clear. Key European leaders are sending mixed signals. Eurogroup (group of finance min...
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Greece Puts Debt Bills Up For Democratic Vote
27Jun By Patti MohrNo Comments
Currency, Debt, National Budgets & Interest Rates, Democracy, Europe, EU, Eurozone, Foreign Aid, International Development, Global Economics, Types of News: Brief

Greece Puts Debt Bills Up For Democratic Vote

Greece is to hold a national referendum to decide whether the country will accept a deal offered by creditors over the country's debt obligations and tax, spending and pension policies. Caught between his government's promises to pay its debts and his own campaign promises to oppose fiscal reforms demanded by creditor institutions, Greek Prime Minister Alexis Tsipras announced today that he will let the people decide the fate of the country. "Our responsibility is for the future of our country. This responsibility obliges us to respond to the ultimatum through the sovereign will of the Greek people," Tsipras said. While it seems like a lot is riding on the national referendum, scheduled to take place Sunday, July 5, the vote might come too late. Greece owes a debt payment of €1.5...
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North Korean Dealings with Hong Kong-Business Keep Regime Alive
25Jun By Patti MohrNo Comments
Communism, Dictatorship, Corruption, Bribes, Illicit Finance & Money Laundering, Sanctions

North Korean Dealings with Hong Kong-Business Keep Regime Alive

Despite extensive sanctions against North Korea by the United Nations, European Union and United States in response to its nuclear testing, the world's most isolated country is not as isolated economically as one might suspect.According to a groundbreaking investigation by the Financial Times, North Korea relies on an obscure web of connections to finance foreign and domestic projects and bring in the foreign currency it needs to survive.The main group, Office 39 based in North Korea, conducts "illicit economic activities" to produce income for the leadership, according to the Financial Times. North Korea is also known to export weapons, drugs and indentured servants.It has dealings with a multi-million dollar private company based in Hong Kong, referred to as the Queensway Group. The pri...
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U.S. Congress Gives President Authority to Negotiate Trade Deals
24Jun By Patti MohrNo Comments
Global Trade, United States

U.S. Congress Gives President Authority to Negotiate Trade Deals

Not since 2007 has a U.S. president had authority to negotiate trade deals with other nations on behalf of the country. The authority, known as "fast-track" because it will allow the executive branch to hammer out the details of a trade deal and send the bill to Congress for an up-or-down vote, expired in 2007. Today President Obama achieved a major breakthrough in restoring that authority to the Executive branch. The Senate voted 60-38 on a bill to grant the president Trade Promotion Authority. The House voted 218-208 a week earlier. The bill faced major political and procedural hurdles in both branches of Congress. H.R. 2146 spells out trade priorities for the United States and establishes rules for Congress to consider trade agreements. Once President Obama signs the bill, he'll set ...
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ON THE HORIZON: A Nicaraguan ‘Grand’ Canal
23Jun By Patti MohrNo Comments
Global Economics

ON THE HORIZON: A Nicaraguan ‘Grand’ Canal

With an estimation that global trade will continue to accelerate, a privately-held global firm is set to build a massive canal project across Nicaragua linking the Atlantic and Pacific oceans. It is considered one of the largest infrastructure projects being planned in the world today. Rights to develop and manage the project belong to HKND Group, a privately-held infrastructure development firm run by a Chinese businessman Wang Jing. The firm calls its project is the Nicaragua Grand Canal and Development Project, which is also known as the Grand Canal. Ground could break on the project as early as this year. Plans and talks have been underway since 2012. The Nicaraguan government agreed to give the HKNG Group rights to plan, design, construct, operate and manage the canal, and the N...
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ONE VIEW: Global Collaboration to Grow as Transport Decreases
1May By Patti MohrNo Comments
Global Economics, Global Trade

ONE VIEW: Global Collaboration to Grow as Transport Decreases

In a Wall Street Journal article "The Future of Global Trade," Atlantic Council Chairman Jon Huntsman predicts radical changes ahead for the way the world does business. They include more complex global governance, automation of high-tech work and greater cross-border collaboration on ideas. A few of his points: Long-distance trade in manufacturing and agriculture will decline due to the rise of 3D and 4D printing and urban farming, which localize production. Meanwhile, international cooperation in the free flow of ideas will increase, making regulation, ownership of ideas and governing more difficult. The New Development Bank and the Asian Infrastructure Investment Bank may gain more influence over global trade, lessening the role of the World Trade Organization as arbiter and ...
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Foreign Policy: Disagreements on Dealing with Iran
6Mar By Patti MohrNo Comments
Energy Policy, Oil & Gas, Global Trade, Sanctions, Types of News: Analysis

Foreign Policy: Disagreements on Dealing with Iran

In a bold and unprecedented act, the Republican-led Congress hosted an address by Israeli Prime Minister Benjamin Netanyahu in which he urged Washington to back away from talks with Iran on nuclear proliferation and keep sanctions in place. The speech by the Israeli Prime Minister was unprecedented because it used the institution of the U.S. Congress to undermine diplomatic negotiations of the White House. The United States is one of six countries—the other five countries are China, France, Germany, Russia, and the United Kingdom—negotiating with Iran to freeze its nuclear program in exchange for relief from sanctions. The talks face a checkpoint deadline at the end of this month. Although some diplomats have expressed progress in the effort to halt Iran's nuclear weapons program, Netany...
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Eurozone Economics
20Feb By Patti MohrNo Comments
Geopolitics

Eurozone Economics

"To explain to people that we have to give money to Greece for their salaries and pensions? Impossible." --Fico, explaining why Slovakia and other European countries should not have to forgive or pay for debt owed by Greece (FT, Feb. 20, 2015)
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