Aggiedad77: Timing...indeed timing....globe-trotting by PM Abadi at a time when the budget is due for a vote....Wednesday the 21st.....hmmmm....what could he be telling us....confidence in what is to come......or that the budget is a done deal...a no brainer.....(See Article Below)
I for one....not in any kind of minute believe that Abadi would be leaving home if he felt any concern with the budget....he has more integrity than that.....
I still believe a vote will happen on Wednesday....barring any other postponement of said vote.....interesting trail that is being created here for sure....worthy of watching what transpires.
And don't forget the meeting tomorrow between Abadi and the CBI governor.....what can they possibly be talking about on the eve of Abadi heading into London then to Davos.....my interest level is at an all time high. Aloha Randy
walkongstick :Abadi participate in the forum «Davos»
BAGHDAD - Alaa al-Tai
scheduled to Prime Minister Haider al-Abadi participate at the head of a government delegation, the World Economic Forum which will be held for a period of 21 to 24 of this month in Davos, Switzerland resort.
and involved more than 40 heads of state and government and nearly 2,000 businessmen and leaders money sectors and economics and business from all countries at the annual meeting of the (45) of the World Economic Forum, which will discuss the new global context, the main challenges facing the international community, including economic growth, social integration and Alngaaralamnacha and the future of the Internet and the most important current events affecting international relations.
walkongstick :Switzerland Could Act on Currency Again, Central Banker Says
Swiss Franc Is ‘Greatly Overvalued,’ Central Bank President Thomas Jordan Says
Jan. 17, 2015 8:32 a.m. ET
ZURICH—The Swiss central bank is ready to intervene in the currency markets again to weaken the franc if necessary, the bank’s head said, just two days after the removal of a cap on the franc triggered a surge in the currency’s value.
Swiss National Bank President Thomas Jordan said the central bank was forced to scrap its policy of keeping minimum exchange rate of 1.20 Swiss francs a euro due to divergent economic developments and mounting risk from its euro-buying operations.
The bank will continue to monitor the situation and act if necessary, Mr. Jordan said in an interview with Swiss newspaper Neue Zuercher Zeitung.
“We have said goodbye to the minimum exchange rate,” Mr. Jordan said in the interview published Saturday. “But we will continue to consider the exchange-rate situation in our decisions and intervene in the foreign-exchange market if necessary.”
The SNB’s surprise decision on Thursday to ax the minimum exchange rate roiled markets and caused the Swiss franc to gain around 30% at one stage before settling 15% higher against the euro to trade near one Swiss franc to the euro, from around 1.20 before the announcement.
The Swiss stock market swooned and shares in companies such as food giant Nestlé SA and pharmaceuticals maker Novartis AG had billions wiped from their values as shareholders sought to cash in on the sudden appreciation of the currency.
Stocks in some Swiss companies including watchmaker Swatch Group AG slumped as analysts reduced their sales and profit forecasts as a result of the franc’s rise. The higher value of the Swiss franc reduces the value of sales made in the eurozone, which accounts for more than half of its exports.
The minimum exchange rate had been in place since September 2011 and was intended to head off deflation and protect the competitiveness of Swiss companies.
Mr. Jordan said the franc remains “greatly overvalued.” He said he expects negative interest rates introduced by the SNB to make the franc less attractive, but ruled out introducing capital controls to further weaken demand for the currency.
He also said suggestions the SNB could impose capital controls, which would restrict the inflow of foreign funds in to Switzerland, to further weaken the franc “aren’t a realistic option.”
“The market will gradually find that this overestimation is not justified,” he said.
Mr. Jordan said the minimum exchange rate was abandoned following “long, intensive discussions,” which determined it could only be enforced with massive interventions by the bank to buy euros and sell francs.
“Had the national bank simply continued with minimum exchange rate and inflated our balance sheet, then we would have risked losing control over monetary conditions in the long term,” Mr. Jordan said.
The SNB’s balance sheet has risen to around 522 billion Swiss francs ($608 billion)—just under the size of the entire Swiss economy—as a result of its interventions.
The European Central Bank is expected next week to launch a policy of quantitative easing—printing money to buy the government bonds of member states to ease the pressure on their borrowing. Such a move would likely further weaken the euro.
“Large interventions are useful as long as their purpose is justified and sustainable,” Mr. Jordan added. “That was no longer the case.”
A permanent peg to the euro was never an issue, he added, because Switzerland has an independent currency and independent monetary policy.
“The franc is our currency; to link it to another currency wouldn’t make sense,” he said.
He defended the sudden announcement, saying signaling the bank was scrapping the cap would have encouraged more market speculation and heavy buying of the currency
Bailey2: copied From Twitter
@JCR3758: I am hearing that all parties are focused on releasing it when CBI/GOI give the word. There is a definite window for this & it won't be long.
There is nothing left that can prevent the RV from happening. The minor things left can be completed post RV. This was agreed to before.
Wturner : SO....IRAQI delegation traveling to WASH DC on Sunday: Might Abadi et al there to be recognized in Pres O state of Union speech on Tuesday NITE?
szcin11 I HAVE BEEN COMMENTING IN RECENT WEEKS ABOUT THE VESTED INTEREST, THE WORLD HAS IN IRAQ, AND WHY ALL THE ESTRANGED COUNTRIES ARE RACING IN NOW, LIKE GREYHOUNDS CHASING THE RABBIT! YOU WANT TO KNOW WHY?
LOOK! US NEWSPAPER, IRAQ WILL BECOME THE BIGGEST OIL POWER IN THE WORLD!
Article quote "Told The Washington Times reported that an increase in oil production in Iraq may determine the future of global oil prices in the coming years... it also indicated a Washington Times that Iraq is close to the number one position as the largest oil exporter in the world."
Millionday IRAQ HAS A DELEGATION COMING TO WASHINGTON ON THE 18TH ACCORDING TO NEWS REPORTS AND ALSO SWITZERLAND HAS MADE SOME CHANGES WITH THEIR CURRENCY REPORTING THAT SOME CHANGES ARE EXPECTED IN CURRENCY NEXT WEEK...
[is the swiss have in any bearing on this?]
THEY HAVE ALWAYS BEEN KNOWN AS A WELL KNOWN INTERNATIONAL BANKING COUNTRY FOR INVESTORS -- THE STATEMENT THEY RELEASED WAS THAT SOMETHING BIG IS HAPPENING WITH CURRENCY NEXT WEEK AND DID NOT GO INTO ANY FURTHER.