“The
Russian State Duma has ratified the $100 billion BRICS bank that’ll
serve as a pool of money for infrastructure projects in Russia,
Brazil, India, China and South Africa, and challenge the dominance of
the Western-led World Bank and the IMF. The New Development Bank is
expected to start fully functioning by the end of 2015, according to
the Russian Finance Ministry. Russia has agreed to provide $2 billion
dollars from the federal budget for the bank over the next seven
years.”
“The
decision to establish the BRICS bank, along with a $100 billion
reserve currency pool, was made in July 2014. Each of the five member
countries is expected to allocate an equal share of the $50 billion
startup capital that will be expanded to $100 billion. The bank will
be headquartered in Shanghai, India will serve as the first five-year
rotating president, and the first Chairman of the Board of Directors
will come from Brazil.”
“The
group of BRICS emerging economies that includes Brazil, Russia,
India, China and South Africa is the world's largest market. Their
combined GDP grew more than 300 percent in the last decade, developed
world grew 60 percent.”
... the Greek side will exploit
this period to build stronger alliance with the Sino-Russian bloc.
Tsipras will certainly exploit his visit to Moscow in May
(http://failedevolution.blogspot.gr/2015/02/confirmed-putin-calls-tsipras.html),
while he will search all the possibilities for a financial aid
from BRICS which are building fast an autonomous financial system
to decouple their economies from the neoliberal monetary monopoly.
In the middle of the negotiations, Tsipras already took the chance
to send another message to the Western allies with the help of the
Chinese
fleet.(http://en.enikos.gr/politics/24368,Tsipras_welcomes_Chinese_fleet_in_Piraeu.html
)
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