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Saturday, 28 March 2015

What’s $3 Billion Between Enemies? #Ukraine and #Russia Battle Over Debt Terminology - Real Time Economics - WSJ

What’s $3 Billion Between Enemies? Ukraine and Russia Battle Over Debt Terminology - Real Time Economics - WSJ:

"Of the many battles Ukraine and Russia are fighting, an argument about whether to call the $3 billion Kiev owes Moscow at the end of this year “official” or “private” debt may seem insignificant.

In fact, says Anders Åslund, a Russia expert and senior fellow at the Peterson Institute for International Economics, the verbal skirmish highlights a fundamental problem: Ukraine needs far more cash than Western countries have currently promised to keep the conflict-ridden economy afloat.

“It’s under-funded,” said Mr. Åslund. Even though the International Monetary Fund and other creditors just boosted their emergency bailout financing, Mr. Åslund said he expects Europe and the U.S. will have to contribute at least another $10 billion."

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America's biggest airlines are accusing Persian Gulf carriers of cheating - Vox

America's biggest airlines are accusing Persian Gulf carriers of cheating - Vox:

"Three of America's four largest airlines — American, United, and Delta — have teamed up with the labor unions representing their workers to form a coalition called Americans for Fair Skies, which is demanding US government action against three major airlines based in the Persian Gulf that are cheating on existing international agreements. Bill Shuster, the Republican chair of the House Transportation Committee, says the complaint has merit, and the Obama administration has agreed to review the matter.

The key complaint from the American airlines is that their three state-owned Gulf competitors — Emirates, Etihad, and Qatar — receive government subsidies that violate the terms of the existing Open Skies agreements between the US, the United Arab Emirates, and Qatar.

But the real stakes are less about legal details than about whom US transportation policy should favor: American aviation workers or American travelers. A crackdown on Gulf airlines could mean more jobs and higher pay for US-based aviation workers. But it could also mean higher prices and less choice for American international fliers, especially those bound for Asia."

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The emerging market discount - YouTube

The emerging market discount - YouTube: ""

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