Ireland on Wednesday set out its four-year plan to make 15 billion euros (12.7 billion pounds) in savings to bring down its record deficit.
Ireland’s government will cut spending by 20% and raise taxes over the next 4 years as talks on a bailout of the country near conclusion. Welfare cuts of $3.8 billion dollars and income tax increases of 1.9 billion euros are among the steps planned t
The Irish government faced imminent collapse on Monday, only a day after it signed off on a $100 billion bailout, setting the stage for a new election early next year and injecting the threat of political instability into a European financial crisis
There is no reason why taxpayers around Europe or in Ireland should pay for other people's mistakes. The bondholders and the stockholders of banks should lose money"... So simple, yet so irrelevant when dealing with a dying economic model.
This nonsense has to stop and the banks involved must be taken into receivership, reorganized, and the executives involved removed from their positions, tried and jailed.
Moving to contain fears of a debt crisis in Europe, the International Monetary Fund and European Union agreed Sunday to support an emergency bailout for near-bankrupt Ireland after the desperate government here abruptly requested a lifeline following
Legendary investor Jim Rogers tells why Europe and the world would be better off if Ireland goes bankrupt.
What role does the World Bank have in Africa's future? ... The World Bank's draft strategy for Africa appears to be an attempt to shore up its position as a key player in the continent's development, while at the same open itself up to feedback from
Why are bubbles such a persistent feature of financial history? Economists argue that these speculative frenzies are caused in part by market failures like too much liquidity or lax regulation. Cognitive psychologists, meanwhile, see bubbles as a cas
Stocks fell for a fourth day Tuesday as concerns over a slowdown in China and talks about a bailout for Irish banks combined to push the Dow Jones industrial average to its largest one-day loss since August. Asian markets started a global sell-off
Greece's goal of reducing its gargantuan debt received a fresh blow today when the EU statistics agency announced that the country's 2009 budget deficit was much worse than first thought. Six months after Athens received €110bn (£93bn) in emergenc
At the 7 or 8 minute mark, Max and Stacey refer the IMF has the bagman and cleaner for the banksters. Also, Michael Kreiger from Zero Hedge gives his take on the future of the Comex.
Dublin warned it has 24 hours to make decision as EU emergency talks loom amid fears Irish banks' contagion may spread to other eurozone countries
European officials, increasingly concerned that the Continent’s debt crisis will spread, are warning that any new rescue plans may need to cover Portugal as well as Ireland to contain the problem they tried to resolve six months ago.
One thing seems certain: Insofar as the G20 is concerned, the Anglo-American elites are not having their way.
As the leaders of the 20 major economic powers gather in Seoul, an increasing number of them have either imposed curbs or are in the process of doing so to slow the torrent of hot money into their markets. Over the years, foreign capital flowing i
Here’s a finding that will have any red-blooded American spluttering into his cornflakes.
A group of demonstrators broke into the headquarters of Britain's governing Conservative Party in London Wednesday, spray-painting anarchy symbols and setting off flares before being forced out of the building.
The giant fiscal stimulus and bank lending spree that China launched 2 years ago saved the world from recession. What can Beijing do for a follow-up act? Internationally, the success of the unprecedented pump-priming has accelerated a shift in econom
President Obama defended the Federal Reserve's policy of printing dollars after China and Russia stepped up criticism ahead of this week's Group of 20 meeting. The G20 summit has been pitched as a chance for leaders of the countries that account for
With these guys having Uncle Sam by the short hairs and making him sing their tune,...you might want to pay attention.
The way this works is that the slower a ship sails, the fewer times it can make a round trip per year. Thus purposely sailing slowly reduces the effective supply of ships. It's a response to insufficient shipping demand relative to the size...
As the world watches Greece wrestle with its crushing debt and crippled economy, the country is quietly struggling to manage another burgeoning crisis: the dramatic influx of illegal immigrants crossing from Greece into the European Union. Officials
Three years ago, the International Monetary Fund was irrelevant, an object of derision for all opponents of globalization. Under director Dominique Strauss-Kahn and as a result of the global economic crisis, the IMF has since become more influentialEntered By: Glenn Jacobs
China's rare earths deposits dropped to 27 million metric tons by the end of 2009, or just 30 percent of the world’s total known reserves, from 43 million tons, or 43 percent of the w
There's a half-off sale in the world's tallest building. Even with an address at the iconic Burj Khalifa, rents for residences in the tower are not immune from Dubai's real estate crash. Indeed, nearly a year after it was inaugurated with a massive w
"...but for me, we'd be in a world-wide depression." WE'RE ALREADY IN A WORLD-WIDE DEPRESSION BECAUSE OF YOU!!
The British economist John Maynard Keynes may live on in popular legend as the world’s most influential economist. But in much of Europe, and most acutely here in the land of his birth, his view that deficit spending by governments is crucial to avoi
It is a sorry state of affairs to report that the American male population could learn a thing or to about protesting the "New World Order" from the French protestors, but it's true! As the American economy reels NFL ratings are spiking...
Today, Zimbabwe no longer has its own currency. The country effectively deals in cash only, in foreign currencies. Merchants take whatever they can get– US dollars, euro, South African rand, etc.