Sberbank CEO German Gref has warned of significant economic challenges ahead for Russia, predicting difficulties stemming from military spending, inflation, and high interest rates that could extend into 2026. The quality of loan portfolios is declining, with increasing requests for debt restructuring from borrowers. Bloomberg reports a growing risk of a banking crisis within the next year, citing a surge in defaults not yet reflected in official statistics. Corporate debt has risen substantially, particularly among Russia’s largest companies, and mutual non-payments between companies are also increasing.
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As a Greek citizen, the recent decision by the Greek parliament to introduce a six-day working week in the name of being ‘growth-oriented’ is disheartening, to say the least. Looking at the current state of the country, it is evident that this move will only exacerbate the existing issues rather than solving them.
The idea of increasing the workweek to supposedly boost productivity seems counterintuitive in a world where automation and technological advancements have made work more efficient. Instead of providing a solution, this decision appears to be pushing the population towards modern-day slavery, with workers expected to give more of their time and energy for the benefit of a few elite individuals.… Continue reading
Emmanuel Macron’s recent announcement to offer fertility checks to France’s young people in an attempt to combat falling birth rates has sparked a wave of mixed reactions. As a citizen observing these developments, it’s challenging to ignore the disconnect between the proposed solution and the underlying issues at play. The declining birth rates in France, as in many other developed nations, are not solely attributed to fertility problems. Instead, they reflect a more profound societal concern that requires a holistic approach.
The idea of providing fertility checks as a solution to address the falling birth rates seems shortsighted. It fails to address the root causes that deter young people from starting families.… Continue reading
John Q. Hosedrinker