Daily Archives | global crisis
Goodbye Sarkozy
May 8th, 2012
READ MOREFrench President Nicolas Sarkozy was defeated at the hands of François Hollande. According to Mark R. Jacobson, foreign policy expert, the election’s results have global implications. The new president could accelerate the withdrawal of French troops from Afghanistan and will …
Spain Falls into Recession
May 1st, 2012
READ MOREAccording to a government report released on Monday, Spain has fallen into its second recession since 2009. Its economy shrank for the second consecutive quarter. Affected by the aftermath of the bursting of a housing bubble, on Friday the government …
A Bold Reform in the Eurozone: IMF
April 23rd, 2012
READ MOREThe International Monetary Fund and the World Bank are literally governing the economies of the Eurozone in these times of crisis. In its annual meeting the IMF urged the Eurozone to make bold structural reform to reassure financial markets. A …
Italy Slashes its Growth Forecast
April 19th, 2012
READ MOREFew months ago Italian financial authorities calculated a 0.4% contraction in the national economy. On Tuesday they cut the prediction to a 1.2 % contraction. The government admitted that it will not be able to balance the budget by 2013. …
IMF Sees “Optimism Return”
April 18th, 2012
READ MOREAfter several warning signals the International Monetary Fund said that some optimism has returned to global economy and predicted slightly faster growth. The institution reviewed the world’s economic growth for 2012 to 3.5%, up of the previous forecast (3.3%). In …
World Economy Remains Fragile
April 17th, 2012
READ MOREAccording to a note published by CNN News the world economy has deteriorated since last autumn and “remains on life support” from central banks. The economic weakness extends across the Group of Leading Economies (G 20) and, in a curious …
Spain Concerns Grow
April 16th, 2012
READ MOREAs we mentioned in a previous post, Christine Lagarde, president of the International Monetary Fund, proposed a stronger war chest to palliate the effects of the Euro crisis and requested US $600 billion in new contributions. European leaders accepted her …
World Recovery is Very Fragile: IMF
April 10th, 2012
READ MOREChristine Lagarde, the managing director of the International Monetary Fund, considers that the world is still in recession. She warned that the recovery is still fragile and the current situation is not ideal yet: “The financial system in Europe is …
Additional Austerity Measures in Spain
April 2nd, 2012
READ MORESpanish authorities have announced additional austerity measures aimed to palliate the extreme financial problems of the country. The cuts planned for this year will total 27 billion Euros (US 36 billion). They include freezing public sector worker’s salaries and reducing …
Spain: 22% Households Under Poverty Line
February 28th, 2012
READ MORECaritas, the Spanish Roman Catholic Church charity organization commissioned a report about poverty in Spain. It reveals shocking figures. Exclusion and Social Development 2012 reveals that already 22% of Spanish households are living under the poverty line with a further …