Brussels: Greece won a second bailout of 237 billion Euros yesterday after major financial support was offered from the IMF based in Washington, the ECB, Bond holders and private investors. This has bought valuable time for Portugal and Italy to sort out there financial interest and also avoid a default on bond payments. The ECB is [...]
Athens: Greece looks as though it is coming close to an agreement with the European negotiating team known as TROIKA. The Greeks have agreed to cut their public spending by 3.3 billion in order to secure a rescue deal package of 130 billion Euros. This caused riots and civil unrest in Athens on Friday and more demonstrations are more than [...]
Albany, New York: It was reported in NYC that a 9 month old baby had been tattooed. The mother, Franny Trokerns has since been arrested for questioning by police in which could be a serious incident of child abuse. The mother who works as a stripper in a local night club was reported on by [...]
London: Due to the unprecedented expansion of the Chinese economy in the last 25 years and with exports far exceeding imports, China now owns the biggest cash reserves including gold throughout the World. Incredibly, 30 percent of that cash mountain is already allocated to US Government bonds and another 600 billion Euros invested within European [...]
PARIS: The UFC Que Choisir condemed the increase of motor part prices in France. More than 26% between 2005 and 2010 in France, even though general consumer prices have varied during this period of 7.63%. “The slippage rate is a symptom of manufacturers’ monopoly on this market” says the Consumers Association. In this case it [...]
Inflation, caused by printing money, may have more to do with the recent price increase of oil. Most countries use U.S. dollars as a reserve currency and most oil producing countries want to be paid in dollars. There are now a lot more dollars in circulation and the printing is continuing unabated. There are perhaps [...]
LONDON: Excessive sovereign and private sector debt in both Greece and Portugal has resulted in a notice being given that their credit ratings may be cut which proves that the euro zone crisis is not going to be resolved any time soon. And factor in the dilemma of the large Spanish economy which is also [...]
Rises in the base rate for variable rate mortgages will leave many households exposed to greater debt and possible bankruptcy warned the Bank of England in its Financial Stability Report. The possibility of interest rate rises in 2011 cannot be ruled out due to changing circumstances in the economy with the effects of excessive inflation [...]
MADRID: Nervousness and speculation in European financial markets is rife since the Irish bail out and countries lying on the Euro zone periphery such as Ireland, Greece, Portugal and Spain are particularly susceptible to movement in the markets. Spain’s financial position is also looking jittery despite two years of austerity measures and funding implemented by [...]
MADRID: Spain has been undergoing the same financial problems as Greece, Ireland and Portugal with legible economic growth and rising sovereign debts. The recent austerity measures introduced by the leader of the Socialist government, Jose Luis Rodriguez Zapatero has meant a sharp drop in popularity for the Socialists and further measures may prove to be [...]
