Adjusting the arcane rules governing exchange trading execution will not remedy broader financial-system problems and global macroeconomic mismanagement that are producing a new wave of volatility in the world’s securities markets.
With moderate fanfare, yet another multilateral economic cooperation agreement was signed among a limited number of the Soviet successor states this month, in Astana, the capital of Kazakhstan. Belarus, Kazakhstan and Russia signed up to a customs union in the margin of a meeting of the EurAsian Economic Community (EurAsEC), which also counts Tajikistan and Kyrgyzstan as members.
Despite recent improvements in Turkey’s economic performance, political uncertainty is weighing on the country’s stock markets, with little prospect of relief until the outcome is known of a September 12 referendum on proposed constitutional amendments.
Petroleum Industry Review: In your opinion, how will the international energy market change, given the high energy demand (in the EU and the U.S. energy consumption increased by more than 40% since 1970, in Japan it doubled and in China it is more than four times higher) but also the decrease of the world hydrocarbons resources? What is your opinion concerning alternative energy sources? Is renewable energy a solution for the world economy during this time of crisis? Is it a solution for the future?