The Wholistic View

| Photo: Wirecard Signage at one of its Office, Reuters | Wirecard AG, once a national pride of Germany and its answer to the giant US tech Companies has lost nearly 85 per cent of its market value and filed for insolvency being unable to pay off its debts just days after it was revealed that it had a $ 2 billion  hole in its balance sheet. The cash was supposed to be held at two Asian Banks, though Wirecard has admitted recently that the missing billions may not even exist. This scandal has shuddered its investors and its credit rating has been withdrawn by Moody's.  The Wholistic View encapsulates this sensational fraud which has been termed as one of the worst financial disasters in Europe since the financial crisis of 2008.  (7 Min Read). For the last year or so, Financial Times(FT) Journalist Dan McCrum has been constantly reporting that German Fintech Company Wirecard was faking some of its revenue. Wirecard, on the other hand, had been fighting back aggressiv...

| Image:   G-7 leaders at a summit in August 2019| For Starters, "G-7" meaning "Group of 7" is an informal bloc of countries, made up of so-called world's seven largest advanced economies that meet annually to discuss issues such as global economic governance, international security and energy policy etc. This Forum wields considerable influence on matters concerning the international economic policy. Recently, the head of one of its member state, the U.S. President Mr Donald Trump has expressed his intention to delay its annual summit and proposed to expand its number for members. So, why has this symposium come into being and what does the future hold for it? | The Wholistic View tries to expound ( 6 Min Read )| The Group of 7(G-7) is an informal entente of seven nations namely, The United States, Canada, West Germany(now Germany), Japan, Italy, France and The United Kingdom. This group came into existence to in 1975 when leaders of six states except Canada me...

  | Image:   VOA News| There is no question that the International Monetary Fund (IMF) and World Bank continue to be amongst the most relevant and significant powerful norm-setters, convenors, knowledge-holders and influencers of the international development and financial landscape. The IMF and the World Bank are closely linked – so close that their headquarters are across the street in Washington DC, USA. So what’s the difference between the two?| The Wholistic View Explains ( 5 Min Read )| Founded in 1944 by Delegates of 44 nations in Bretton Woods, New Hampshire, U.S.A., with a general consensus that the old system of exchange rates and payments had failed, leading to the Great Depression, currency devaluations and the collapse of the gold standard. the World Bank Group (WBG, or Bank) and the International Monetary Fund (IMF, or Fund) are twin intergovernmental institutions that are influential in shaping the structure of the world’s development and financial order. T...

You know the US Dollar($) is the official currency of the United States and its territories, but, some other countries use it as their official currency too. In fact, the US Dollar($) is known as the world's reserve currency. So How Exactly did it become so powerful??| The Wholistic View Explains!! (5 Minute Read) | More than $1.8 trillion of U.S. Currency is now in circulation around the world, and its believed that two-thirds of $100 bills and nearly half of $50 bills are held outside the U.S. In Fact, the US Dollar($) is the de facto global currency, meaning it is kept by many governments in reserves, thus, most people and companies trust it for international trade. Even, as the Coronavirus Pandemic wreaked havoc across global markets, wiping out trillions of dollars' worth of assets, the U.S. Dollar($) was unaffected by the turmoil. At one point, it soared 4% against a basket of major currencies, namely the Euro, Pound, Yen, Canadian dollar, Swiss Franc and Swedish Krona. S...