Individual Nations Impacting Global Financial Markets

A week of financial instability had everyone on edge as Europe dealt with Greece and China battled in the stock markets.

Greek Crisis

After continued strife and instability Greece went to the polls and voted NO, rejecting international creditors’ tough bailout terms sending stock markets around the globe spiraling downwards with Australia losing $30billion. At a meeting following the referendum Greece arrived without a new debt proposal causing stocks to tumble for a second day. European leaders gave Greece 48 hours strike a new bailout deal with its Eurozone creditors or it threatened that all 28 national EU leaders would meet on Sunday to discuss how to contain the crisis. Greece requested a 3 year bailout but Germany was hesitant wanting a full list of reforms.

Below is an interesting breakdown of the European Debt Crisis.

Chinese Stock Market

After continued stock market volatility in China hedge fund managers pledged to invest $19billion to help prevent further damage, however, the Chinese stock market took a nose dive during the week with over 700 companies asking for their shares to be suspended. China took measures to prevent further chaos by stopping major share holders from selling for six months. There seemed to be a positive uptick on Friday after the measures were introduced however no one is sure how long it will last.

The People Controlling the World's Money

This week we see nations and businesses busying themselves as the world around them changed.

Nations at Odds

We begin this week in Greece with the continuing drama over debt with the IMF raising a red flag initially but later saying they expect Greece to make the $1.7 billion payment by 30 June as Athens continues to negotiate with creditors. Greece, however, wasn't the only country arguing over public funds this week as anti austerity marches took place in London with celebrities joining the masses. Russia didn't have a great week either with Europe extending economic sanctions by 6 months due to the crises in the Ukraine.

Outside of financial crises we saw Australia reveal this week that it would join the China lead infrastructure bank as a founding member while in the States SCOTUS upheld Obamacare after another legal battle over the wording in the law. But while disputes and economic quandaries were fought it was revealed that the NSA had been targeting the business world with security companies in particular in order to create malware that could bypass their defenses.

The Business World

The business world would be rocked further with WikiLeaks releasing more Sony emails and documents showing a deal made with Apple and settlements made. Controversy didn't end there with businessman Donald Trump entering the race to be US President and making surprising progress even after controversial statements about immigrants resulting in Univision dropping Trumps Miss USA pageant. But while some controversies boiled over others were dealt with head on as many large retailers stopped selling confederate flag related items after the tragic events in Charleston last week.

Finally we end the week with the digital world of business, in particular the new streaming music industry where new comer Tidal lost it's interim CEO just months after losing a previous CEO but it's wasn't all bad news when Apple was confronted by pop princess Taylor Swift in an open letter condemning their plans to not pay artists resulting in a turn around where Apple agreed to pay artists during the 3 month trial period.

Accidents and Natural Disasters

The week wasn't particularly pleasant with misfortune playing a large role in many tragedies.

Accidents

We begin the week with the world looking on as it was feared nearly 700 people had drowned off the coast of Libya after a human smuggling vessel sunk with the only progress being the captain and his crew being arrested. The EU held an emergency meeting regarding the tragedy however the outcome has been criticized as been inadequate. Elsewhere in the world 7 people were reported dead and 17 trapped in a flooded coal mine in China.

Older tragedies made news with robot's at the Fukushima nuclear power plant capturing images of a strange green glow and even further back to one of histories most notorious accidents one of the remnants, a deckchair from the Titanic, was sold for $190,000.

Natural Disasters

Mother nature proved a destructive force earlier in the week with Tsunami warnings raised for Japan's southern Okinawa island after a 6.6 magnitude earthquake struck off the Easter Taiwan. Another earthquake, 6.3 magnitude, was recorded between Nelson and Kaikoura in New Zealand's south island. However nature wasn't done with the Calbuco volcano erupting and sending plumes of smoke and ash into the atmosphere in southern Chile forcing evacuations of surrounding areas.

On the biological front new warnings were raised after it was discovered that Ebola, now thought to be under control, could still be spread by sex with the CDC asking previous victims to abstain from sex. Good news also followed on the Ebola front when a monkey was cured with a new experimental drug along with more good news of a clinical trial coming to an end offering a malaria vaccine. Meanwhile in Iowa 5 million hens are to be euthanized after a bird flu outbreak. We end the week with man doing as much damage to nature with the deteriorating quality of air in China under more scrutiny over the last few months as the second largest economy continues to plow ahead but it's not alone with growing economy Delhi claiming the most polluted air.

Terrorism's Reach Grows

The week saw the affects of terrorism on two fronts, from an up front and deadly confrontation to a anonymous virtual threat.

Sydney Siege

The people of Sydney Australia suffered an unprecedented attack when a gunman took hostages in a busy Sydney cafe claiming to have 2 bombs in his backpack and another 2 bombs planted elsewhere in Sydney.

The siege began with hostages being forced to hold up a black flag with an Islamic declaration of faith. The gunman then used the hostages to relay his demands via video which was sent to local news agencies.

After 17 hours police stormed the Martin Place cafe where a gun battle broke out leaving the gunman dead along with two hostages who had tried to shield a pregnant friend. The two hostage killed in the incident were Tori Johnson the manager of the store and Katrina Dawson a mother of 3.

Virtual Terrorism

With the new Sony Pictures movie "The Interview" taking a stab at North Korean leader Kim Jong-un a group of hackers, believed to be from North Korea, broke into Sony Pictures computer network and proceeded to release a plethora of information about the inner workings of Sony, along with various emails about some now not so happy famous people.

The hackers demanded that Sony pull the offending movie or face more leaks of sensitive Sony data. The FBI warned theaters of potential cyber attacks as the launch date approached resulting in Sony pulling the movie due to be screened on Christmas Day leaving plenty of celebrities enraged for giving in to the terrorist threats.

Nation's Facing Decisions, War and Destruction

The week saw nation's in various forms of evolution taking on the new world, from Scotland deciding it's independence to ISIS' merciless march towards to an Islamic state and Ebola destroying any hope of humanity surviving at all.

Scotland

Scotland decided this week against becoming a separate country with 55% voting no in the referendum. The week had been filled with various campaigns on both sides with celebrities being brought in to sway the masses with the queen commenting on the mater.

The polls opened on Thursday with counting running through the night. With many questions unanswered over things like currency going forward, would Scotland join the European Union and NATO and what would the United Kingdom be called if Scotland goes it's own way, rU.K. (rest of the United Kingdom) was one option.

ISIS

The attempt by ISIS to create a caliphate (an Islamic state led by a supreme religious and political leader) was hampered by the US joining forces with Arab nations and other European groups after the recent beheading of a British citizen David Haines.

While the US stated it would assist in air strikes but there would be no boots on the ground instead the US would supply Syrian rebels with arms. The US' approach was criticized by Iranian President Hassan Rouhani who claimed the US was taking on ISIS "without any sacrifice".

Counter terrorism raids took place in Australia after threats of an attack in Australia emerged. Australia has been outspoken against ISIS and are also sending troops for possible use against ISIS.

Ebola

The disease which has already killed thousands of people had new forces to contend with when the US announced it will be sending 3000 troops to West Africa to use military muscle to battle the outbreak.

Sierra Leone implemented a 3 day shut down in hopes of slowing the infection. Meanwhile Liberian President Ellen Johnson Sirleaf fired 10 government officials who were "out of the country without an excuse" during the Ebola crisis. Saudi Arabia took steps to began testing 3 million Haj pilgrims traveling from infected areas.

The fight against Ebola became even more worrisome after it was discovered that case workers could become infected while taking off their protective suits along with the fear of being attacked by locals who had killed journalists and doctors in the region.