Beijing: China’s trade deficit hit $31.5bn in February as exports slumped, underscoring concerns about slowing global demand and cooling growth in the world’s second-largest economy. February exports from China fell 23.6 per cent from the previous month, and rose a slower-than-expected 18.4 per cent from the previous year. The fall in exports, combined with spectacularly strong [...]
“A Cockleshell Adrift on the Ocean” Presidents Who Don’t Preside By Serge Halimi European summits come and go, and the White House and Congress bicker endlessly, to no effect. “The markets” are well aware of this, they see the elected representatives of the American people running around like headless [...]
Angela Merkel and French President Nicolas Sarkozy give a joint press conference in Berlin after their talks on the euro crisis Photograph: Markus Schreiber/AP Angela Merkel warns Greece: no bondholder deal, no bailout • German chancellor says time is running out for debt restructuring that will release €130bn tranche of aid • Bond investors accept negative interest rate [...]
In this brief article you can see that the last asked in a so called democracy is the people. In this way decisions made by others can be enforced against a country seen as weaker in what is called the economic sense. The poor attempts to make the Greeks look like [...]
Troubled Eurozone Finance Capital By Stephen Lendman - Posted on 12 October 2011 Troubled Eurozone Finance Capital – by Stephen Lendman For years, Progressive Radio News Hour contributor Bob Chapman warned about troubled Eurozone financial institutions and possible sovereign defaults. Greece died months ago. Default is certain. Only its obituary hasn’t appeared. Germany prepared contingency plans [...]
French banks downgraded as Europe’s debt crisis deepens – LIVE Société Générale saw its credit rating slashed this morning, along with Credit Agricole, as the EU debt crisis deepened. Photograph: Francois Guillot/AFP/Getty Images Moody’s has cut Société Générale and Credit Agricole’s credit ratings – just hours ahead of crucial talks between Germany, France [...]
French president Nicolas Sarkozy must convince financial markets that he can meet his fiscal targets. Photograph: Eric Feferberg/AFP/Getty Images The French economy failed to grow in the last quarter as households across the country cut their spending, in the latest sign that the European economy is stumbling. Data released by Eurostat, the region’s statistics body, [...]
The US debt crisis means Spain’s prime minister José Luis Rodríguez Zapatero has been forced to abandon holiday plans. Photograph: Jaime Reina/AFP/Getty Images Financial markets in Europe and North America were gripped by a new sense of crisis as the turmoil caused by the narrowly averted US debt default moved back across the Atlantic and [...]
The German chancellor, Angela Merkel, said she was confident that the Bundestag would vote through the Greek rescue package. Photograph: John Macdougall/AFP/Getty Images A rally on European stock markets evaporated on Friday night as investors began to voice concerns about whether the eurozone rescue plan for Greece would be enough to stem the currency bloc’s debt [...]
