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Economy - International

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Doug Hornig

Forty years ago, it was a small town on the Persian Gulf, merely one of seven sheikdoms joined in federation in 1971 to create the United Arab Emirates. Basically, there was nothing there but sand. Yes, oil had been discovered under that sand, and th

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AP

Europe's threat to ban financial derivatives trading some blame for worsening Greece's debt crisis wouldn't work, a senior US official told EU lawmakers. German, French and Greek leaders have called on a crack down on naked credit default swaps,

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NY Times

2012 is the beginning of a 3-year period in which more than $700 billion in risky, high-yield corporate debt begins to come due, an extraordinary surge that some analysts fear could overload the debt markets. With huge bills about to hit corporations

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NY Times

WHENEVER savvy private equity firms sell debt in the companies they own, buyer beware. That’s the lesson — learned the hard way — for bondholders in Wind Hellas, a Greek mobile phone operator whose parent company defaulted on some of its debt payment

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worldsbiggests.com

Riding surging prices of his various telecom holdings, including giant mobile outfit America Movil, Mexican tycoon Carlo Slim Helu has beaten out Americans Bill Gates and Warren Buffett to become the wealthiest person on earth and nab the top spot on

News Link • Global Reported By Veljko Rauski
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arclein


XacBank recognized this problem and its connection with poverty. Most families spend up to 40% of their incomes, roughly a $140 per month, in the winter time on heating fuel alone. This money most often comes from cuts in nutrition and health

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arclein

To put it simply, the Greek crisis shows what happens when a weak member of this Union is in trouble. It is the same as what happens on the world scale, where there is no such morally pretentious union perpetually congratulating itself on its devoti

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arclein

We show that: (1) African poverty is falling and is falling rapidly. (2) If present trends continue, the poverty Millennium Development Goal of halving the proportion of people with incomes less than one dollar a day will be achieved on time. (3) The

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Phillip Inman and Helena Smith, guardian.co.uk

Greece must consider a fire sale of land, historic buildings and art works to cut its debts, two rightwing German politicians said today in a newspaper interview that is bound to exacerbate tensions between Athens and Berlin. Alongside austerity mea

News Link • Global Reported By Lauren Roseman
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By Ben Hall in Paris, Financial Times, FT.com

Nicolas Sarkozy, the French president, yesterday set out a raft of measures to reverse the decline of industry, promising a bigger role for the state in boosting innovation and saving jobs. Mr Sarkozy painted a grim picture of French manufacturing,

News Link • Global Reported By Lauren Roseman
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EconomicPolicyJournal.com

The sheer size and rapidity of the shift takes governments off guard. Those governments who play it close to the edge, and most do, face budget crises so dramatic that it forces government officials to do something they would never do if ...

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Time magazine

If you believe some European politicians, there may be a sinister force behind the economic crises currently convulsing Greece and Spain and threatening the stability of the euro. They believe the problems did not happen by accident or even as a resu

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EconomicPolicyJournal.com

If there is one month to fear this coming year, it would have to be July. The financial sector is very unstable and all hell could break loose at anytime, but July has special problems.

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