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Commenting on today's sheer market chaos as the US and UK return from holiday, Bloomberg writes that "fixed-income markets have descended into panic
Italian stocks are crashing...
The contagion is tangible: while the FTSE MIB is back to July lows, Spain's IBEX 35 is down the most since February..
In fact, all major European benchmarks are also now in the red for 2018,
The downfall in Italian banks has spread across the continent with major losses for the likes of Commerzbank (-5.0%), BNP (-4.6%), RBS (-3.8%), Credit Suisse (-3.8%) all resting at the foot of their respective indices. Meanwhile, Europe's biggest bank, Deutsche Bank, is back under €10 and just shy of all time lows
The International Centre for Settlement of Investment Disputes (ICSID) was established in 1965 by the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (which has been ratified to date by 136 states), to facilitate the settlement of disputes arising between states and foreign private investors by way of arbitration and conciliation.
Moreover, since 1978, ICSID's reach has been extended by the Additional Facility for the Administration of Conciliation, Arbitration and Fact-Finding Procedures (Additional Facility). The Additional Facility enables utilization of ICSID arbitration and conciliation facilities by states not parties to the ICSID Convention (or nationals of such states) and in regard to disputes other than investment disputes. The Additional Facility also provides interested parties with the ability to engage in fact-finding.
ICSID operates under the institutional framework of the World Bank group in Washington, D.C. Like the Permanent Court of Arbitration or the International Chamber of Commerce, ICSID is not a standing court, but rather a permanent administrative structure supporting and facilitating ad hoc dispute settlement procedures. The Centre maintains a list of potential arbitrators and conciliators for parties to choose from; and provides a host of registry and secretariat services.
DOOM ON!! Check out the comments below the article these are pro investors openly saying a GLOBAL COLLAPSE IS HERE! Call your family and tell them to pull out NOW Because its worse than 2008 say BYE BYE to your 401 K ok ok cut it by 2/3rd's now how much money do you have for retirement ???
originally posted by: FamCore
a reply to: toysforadults
Perhaps the premise of my avatar is beginning to come into view?
The Economist: Get Ready for a World Currency in 2018
originally posted by: ketsuko
Italy, Greece, Spain, and Portugal have been on financial life support in the EU for a long, long time now just like certain US states. They're the PIGS at the trough. Once one goes, they'll all go.