Eichengreen: IMF to walk away from Greece deal, commodities crash to 13-year low
Commodity prices are crashing to a thirteen-year low, with prices heading toward the lowest close since 2002. The Bloomberg Commodity Index, which includes 22 different commodities, dropped by as much 1.3 percent. That’s the fifth day of falling prices in a long stretch of declines seen since March. Precious metals, including gold, have been hit particularly hard. In fact, Gold is now the cheapest it’s been for more than five years. Ameera David weighs in.
Then, Ameera sits down with Barry Eichengreen – professor of economics at the University of California, Berkeley and research associate at the National Bureau of Economic Research. Barry tells us if the Greek people could have been offered a better deal and gives us his take on what the IMF really wants.
Afterwards, Ameera is joined by RT correspondent Anya Parampil to discuss the opening of the Cuban Embassy in Washington, DC. Anya tells us what the reestablished diplomacy means for economic relations between Cuba and the US.
After the break, Bianca Facchinei takes a look at the current limits placed on Greek banks, which opened their doors again on Monday for the first time since June 29, when the government imposed limitations on cash withdrawals. But some of the restrictions still remain.
Ameera and Erin Ade discuss Lockheed Martin’s plan to buy Sikorsky Aircraft – the helicopter unit of United Technologies – for $9 billion. Erin goes into the details of the acquisition and if regulators are concerned about it.
And in The Big Deal, Ameera and Edward Harrison discuss Brazil, Germany, and the US.
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