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Economy - International

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arclein

EU banks were engaged in the same high-risk activities as their counterparts in the US. They were playing fast and loose on speculative trades that were ramped up with maximum leverage. Bankers raked

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Reuters

Moody's Investor Service cut Portugal's debt rating by two notches on Tuesday, saying its growth prospects were weak and it might need new austerity measures next year to hit tough fiscal targets.

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AP

Asian markets were mostly lower Tuesday as a tumble in Chinese stocks tempered optimism from U.S. aluminum maker Alcoa's earnings. A slew of American companies release quarterly results in the coming weeks and Alcoa's result spurred hopes that ea

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Nytimes.com/

“There is a cliff we are racing toward — it’s huge,” said Richard Barwell, an economist at Royal Bank of Scotland and formerly a senior economist at the Bank of England, Britain’s central bank. “No one seems to be talking about it that much.”

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Yahoo News

The balance between spending to stimulate the economy and putting budgets in order has vexed countries around the world as the recovery has looked more and more precarious.

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Businessinsider.com/

No wonder Russia has so much swagger these days, given that a rich Gazprom is the equivalent of a rich Russian government. That's because Gazprom accounts for 10% of Russia's entire GDP (2008), and at times has generated 20% of Russia's...

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Matther Brown via Bloomberg

The most accurate foreign-exchange forecaster says the euro will continue to weaken and may approach parity with the dollar as the European Central Bank buys more government bonds to support the region’s economy.

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The Slatest Edition

Strikes over high prices for gasoline, diesel, and other fuels have spread across India, stopping rail and port traffic in some areas. Flights and buses have been cancelled. Some trains were still running, but those in the financial capital of Mumbai

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NY Times

Policy makers are betting that the private sector can make up for the withdrawal of stimulus over the next couple of years. If they’re right, they will have made a head start on closing their enormous budget deficits. If they’re wrong, they may set o

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ZeroHedge.com

Nothing will change, and eventually, when the entire world has over 5 times its entire GDP encumbered in real cash debt (as opposed to the $1.2 quadrillion in pseudo-metaphysical debt), and interest payments alone account for well over 30%...

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RawStory.com

Reporters from WeAreChange were detained for at least four hours by border officials before being denied entry. A reporter from the InfoWars news site was also denied entry. Two activists from CodePink were also barred from entering Canada.

midfest.info