Opinion – Turkey and Israel challenge the rule of Russia’s Gazprom in Europe – PravdaReport

 

Greater Middle East

Greater Middle East (Photo credit: Wikipedia)

Read this highly popular article in Russia’s Pravda. It explores Turkey‘s Erdogan conducting negotiations with Israel, Qatar and Central Asia to undermine positions of the Russian gas giant in Europe.

Source: Turkey and Israel challenge the rule of Russia’s Gazprom in Europe – PravdaReport

This article provides some fascinating insights into emerging geopolitics in both the Middle East and the Eastern Mediterranean, rich in offshore gas and probably oil.

Countries like Cyprus are impacted by complex relations with Russia, Israel, Turkey, Greece, UK and EU. Let’s also not forget that the Chinese Navy is currently docked in Turkey.

Is Putin wooing Trump to take his eye off the game? Already we hear of the Israeli right talking of unilateral action to remove Iranian interests in Syria following announcement of US/Russian plans for peace in Syria.

Are today’s friends going to be tomorrow’s enemies?

Thoughts?

 

OBR report on government stress testing – Business Insider

Conservative Party (UK)

Conservative Party (UK) (Photo credit: Wikipedia)

Business Insider reports that OBR is stress testing government finances, as weak wage growth, rising inflation, and rising interest rates, as well as the threat of recession – it all means that public finances are on a worrying trajectory and that’s before the impact of a bad Brexit.

Source: OBR report on government stress testing – Business Insider

This article reminds us that UK finances are still in a mess after the pain of prolonged austerity – remember it was Labour who created the mess with a bare cupboard ahead of the 2008 financial crash. But Conservative policies have not really worked. Austerity has resulted in collapsing public services and now there’s a political need to soften austerity. The Conservatives missed the opportunity for radical reform because they lacked stomach to drive radical change in the public sector.

Imagine the report as the new base case, then you can play tunes with extreme downside scenarios, like the twin risks of a Far Left Labour Government and a very hard Brexit.

Thoughts?