Creep me out Pings. ; )
DOLLAR FADE: SKorea, China to trade in national currencies...
BRICs Morphing Into Anti-Dollar Alliance...
http://www.zerohedge.com/news/2014-07-02/brics-are-morphing-anti-dollar-alliance
France hits out at dominance; Calls for ‘rebalancing’...http://www.ft.com/intl/cms/s/0/883e7912-0513-11e4-b098-00144feab7de.html#axzz36l0QEItG
France’s political and business establishment has hit out against the hegemony of the dollar in international transactions after US authorities fined BNP Paribas $9bn for helping countries avoid sanctions.
Michel Sapin, the French finance minister, called for a “rebalancing” of the currencies used for global payments, saying the BNP Paribas case should “make us realise the necessity of using a variety of currencies”.
He said, in an interview with the Financial Times on the sidelines of a weekend economics conference: “We [Europeans] are selling to ourselves in dollars, for instance when we sell planes. Is that necessary? I don’t think so. I think a rebalancing is possible and necessary, not just regarding the euro but also for the big currencies of the emerging countries, which account for more and more of global trade.”
Christophe de Margerie, the chief executive of Total, France’s biggest company by market capitalisation, said he saw no reason for oil purchases to be made in dollars, even if the benchmark price in dollars was likely to remain.
“Companies like ours are in a bind because we sell a lot in dollars but we do not always want to deal with all the US rules and regulations,” he said.
The uproar over the BNP fine at the usually sedate Cercle des Economistes conference in Aix-en-Provence highlighted what has become yet another friction point in transatlantic relations.
French officials lobbied heavily on behalf of the country’s largest bank and argued that BNP broke no European rules, prompting a debate about whether it had been the victim of US judicial over-reach.
Looks like Europe is tired of being effed by the Obama Administration.
EU goes to war against power of digital giants...
http://www.theguardian.com/technology/2014/jul/06/google-amazon-europe-goes-to-war-power-digital-giants