J P Morgan

Moving fron Germany to London over blackout fears - the first of many perhaps

https://investoreight.com/news/eJuKyA4spRjX58VKH5G8Yk/jp-mor…

Not only will people have no lights and heating but the whole financial system of the EU could be paralized

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Not only will people have no lights and heating but the whole financial system of the EU could be paralized

Sensationalism, not even your Telegraph article suggests that.

JP Morgan is understood to be wargaming options such as shifting work from its Frankfurt base to London and other European offices if Germany is plunged into darkness.

A source added: “Work transfers could also be to and from any location, not just involving the UK.”

Sounds like a reasonable precaution to me. From what I can tell, widespread blackouts are rather unlikely. The real problem in the West will likely be the level of energy prices causing significant distortions.

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The real problem in the West will likely be the level of energy prices causing significant distortions.

SB,

At some point the ECB will fall in behind the FED and raise rates. This will over time bring down the nominal amount spent on NG and other commodities in the west.

It leaves behind emerging markets.

Sounds like a reasonable precaution to me. From what I can tell, widespread blackouts are rather unlikely.

Not too sure myself.

The war in Ukraine and what follows has highlighted a problem that had plaqued mainland Europe for centuries - it is prone to instability. As a result of this many people live in ‘other people’s’ countries - Ukraine is a perfect example with a large Russian speaking population, that was at one time closely tied with Russia. Hungary, has ‘shrunk’ after being on the wrong side in two World wars. Borders move but people don’t. Northern Italy has a German speaking province that was once part of Austria and was ‘given’ to Italy as a sort of prize after WW1. I’ve travelled across most of Europe and you can find countless examples of the above. Check out Poland’s history:

Poland has at its largest extent expanded as far as the Baltic, the Dnieper and the Carpathians, while in periods of weakness it has shrunk drastically or even ceased to exist

https://en.wikipedia.org/wiki/Territorial_evolution_of_Polan…

London is a world financial centre as the UK has been relatively stable for hundreds of years, as has the USA with its financial centre in New York. France and Germany have had political and financial turmoil during this time. If nothing else Ukraine and what follows might have reminded people of this.

I’ve worked in finance/economics all my life and banks don’t like being sited in unstable areas which mainland Europe has become:

Russia wants to destroy the normal life of every European citizen, Ukrainian President Volodymyr Zelensky has said.

“It is trying to attack with poverty and political chaos where it cannot yet attack with missiles,” Mr Zelensky said in his regular address on Saturday.

He was speaking hours after Russia said that its main gas pipeline to Europe would not reopen as planned.

https://www.bbc.co.uk/news/world-europe-62786447

Just my views anyway!

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Check out Poland’s history:

My family on my father’s side is from Austria.

Schlesinger is a Germanic surname to describe someone who came from Silesia (Schliesen in German). Silesia is a region in eastern Europe that has been governed at different times by Prussia and Poland (since 1945 it has been part of Poland).

https://selectsurnames.com/schlesinger/

Austrian Silesia

History
The area originally formed the south-eastern part of the Medieval Duchy of Silesia. During the 14th century the Dukes of Silesia were vassals of the King of Bohemia. As part of the Lands of the Bohemian Crown, Silesia was inherited by the Habsburg Archduke Ferdinand I of Austria in 1526, after King Louis II of Bohemia had died at the Battle of Mohács. With the female succession of the Habsburg empress Maria Theresa to the throne in 1740, the Prussian king Frederick the Great laid claim to the Silesian province and, without waiting for any reply, on 16 December started the First Silesian War, thereby opening the larger War of the Austrian Succession. His campaign was concluded in 1742 with the Prussian victory at the Battle of Chotusitz leading to the treaties of Breslau and Berlin, in which Silesia was divided.

https://en.wikipedia.org/wiki/Austrian_Silesia#History

Europe is the Original game of Monopoly! LOL

Denny Schlesinger

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“It is trying to attack with poverty and political chaos where it cannot yet attack with missiles,” Mr Zelensky said in his regular address on Saturday.

Zelensky talking his book as it were … he needs to keep the EU on side despite the enormous sacrifices needed.

But yes with the Russian speakers in the east of Ukraine, and Ukraine’s border being a bit random since it didn’t matter duting the time of the Soviet Union … Does Zelensky really have absolute moral authority over that area?

It’s a question Putin used to good effect in Crimea - making it appear that taking that was just normalising things …

Unfortunately for him, USA saw this was likely only a first step and spent the past few years preparing Ukraine for more … whereupon the attach on Kiev very much opened everyone else’s eyes as to what Putin was really up to …

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But yes with the Russian speakers in the east of Ukraine, and Ukraine’s border being a bit random since it didn’t matter duting the time of the Soviet Union … Does Zelensky really have absolute moral authority over that area?

Probably not, but this scenario can be repeated many times across Europe and has caused a lot of trouble over many years:

“Ein Volk, ein Reich, ein Führer!” (One People, one Empire, one Leader)

https://www.ushmm.org/learn/timeline-of-events/1933-1938/hit…

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But yes with the Russian speakers in the east of Ukraine, and Ukraine’s border being a bit random since it didn’t matter duting the time of the Soviet Union … Does Zelensky really have absolute moral authority over that area?

Seems Putin isn’t sure about his authority in Ukraine either.

Ukraine war: Russia postpones ‘referendum’ in occupied region

The Russian occupation authorities in Ukraine’s southern city of Kherson have postponed a so-called referendum on joining Russia, on security grounds.

Russia has been planning referendums in Kherson and the southern Zaporizhzhia region, most of which it controls.

https://www.bbc.com/news/world-europe-62795976

Can’t let people vote unless you are sure of the outcome…“not a democracy”.

Steve

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