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Greenland Is Very Nice... By Benjamin Picton, senior markets strategist at Rabobank If Mighty Ducks 2 taught me anything it’s that “Greenland is covered with ice, and Iceland is very nice.” While that might be a handy geographic mnemonic, for the purposes of US national security policy it is, in fact, Greenland that is very nice.. Over the weekend President Trump announced additional tariffs of 10% from February 1st – rising to 25% from the 1st of June – for eight European countries resisting US efforts to acquire Greenland. The affected countries are Denmark, France, Germany, the UK, the Netherlands, Sweden, Norway and Finland. Trump said via Truth social that the tariffs would remain in place until a deal for the sale of Greenland to the United States is concluded. Consequently, gold is hitting fresh record highs, long yields are rising, equity futures point negative and both Cable and EURUSD have opened the Asian session well bid. Japanese long yields are surging for idiosyncratic reasons, but should be getting high enough to worry even the most sedate money managers. One can probably imagine the reaction in European capitals. The Financial Times is reporting that the EU is preparing €93bn in retaliatory tariffs to give European leaders “leverage” in negotiations with Trump at the World Economic Forum in Davos this week. Emmanuel Macron was quick out of the gates with a representative of his office saying that the French President will be arguing for the EU to deploy its much-vaunted ‘trade bazooka’ (known less sensationally as the anti-coercion instrument) while Politico quotes former French diplomat Jeremie Gallon as saying “I am convinced that we must not give in... Resisting a new attempt at humiliation and vassalization is the only way Europe can finally assert itself as a geopolitical actor.” Resistance is all well and good, but effective resistance requires the means to resist – and Europe does not have it. An ECB report released in February of last year noted that 61% of all card payments in Europe are processed by international (read: US) card schemes while thirteen EU countries are solely reliant on international schemes like Visa, Mastercard and ApplePay for electronic payment processing. Likewise, since the start of the war in Ukraine Europe has become dependent on American energy as it attempts wean itself off Russian supplies. Before the war it was already dependent on the Eurodollar market for capital and on the American consumer for export earnings as deflation and state mercantilism in China diminished that alternative. Over the weekend German Chancellor Merz conceded that Germany’s shutdown of its nuclear energy industry was a “serious strategic mistake” that has left the country with insufficient energy generation capacity. As a consequence of cumulative strategic mistakes, European industry is now being squeezed between the pincers of loss of input sovereignty and loss export markets. Loss of domestic industry is another way of saying loss of industrial sovereignty (for more on that, see Sky News’s excellent exposé on the parlous state of UK industry) – and industrial sovereignty is requisite for dreams of strategic autonomy. Furthermore – and though it hardly bears saying – the EU under NATO remains a US garrison state with major US bases in the Netherlands, Germany, Spain, Italy, Poland, Belgium, Portugal, Greece and Norway. Without the US security umbrella, the EU nuclear deterrent collapses into internecine politicking over France’s willingness to play guarantor for other member states who – once upon a time – France was sceptical about admitting to the EU in the first place. This is important in a context where – as ECB’s Kazaks pointed out overnight – Europe is already at war with Russia. Herein lies the Achilles Heel for Europe in seeking genuine strategic autonomy: the lack of political union makes it all too easy for great powers like the United States or China play member states off against…

Si le PSG pourrait frapper encore fort sur ce mercato hivernal, le plan du club est d’abord de sécuriser l’avenir de certains de ses joueurs actuels. Dans un contexte où les rumeurs vont bon train et où chaque mouvement est scruté au mercato, le PSG avance prudemment. Le message est clair : l’hiver n’est pas ... Lire plus The post PSG : 4 signatures bouclées en plein Mercato et bientôt annoncées, c’est du très lourd ! first appeared on But! Football Club.

En quête d’un milieu défensif au mercato hivernal, l’ASSE serait tout proche de boucler l’arrivée du milieu camerounais David Mimbang (17 ans). Et si l’ASSE avait enfin déniché son futur milieu défensif ? Selon Tranfer Radar, le club ligérien serait tout proche de recruter David Mimbang. À seulement 17 ans, le jeune international U17 camerounais ... Lire plus The post ASSE Mercato : un milieu défensif prometteur suivi par BlueCo tout proche de Saint-Étienne ! first appeared on But! Football Club.

Relancés par leur succès retentissant à Marseille début janvier (2-0), les Canaris avaient une occasion en or de confirmer face au Paris FC (1-2). Mais au lieu d’enchaîner, le FC Nantes a livré une prestation inquiétante, provoquant une sortie musclée de son capitaine Anthony Lopes (35 ans). Le FC Nantes recommence à inquiéter. Les Canaris ... Lire plus The post FC Nantes : Anthony Lopes secoue violemment les Canaris avant Nice first appeared on But! Football Club.