The latest negotiations between Greece and its lenders have ended, at least momentarily. Athens has agreed to endure ever-more painful pension, spending, and wage cuts, with monthly minimum salaries dropping 20 percent. The powerful leaders of ‘the troika’ — the International Monetary Fund, the European Union, and the European Central Bank — have charted the [...]
On Thursday, February 9th, 2012, the Greek political leaders supporting the Prime Minister Lucas Papademos’s government of national unity agreed a new 3.3 billion euro programme of spending cuts. On Friday, February 10th, the Greek unions launched a 48-hour strike. Protesters clashed with the police on the streets of central Athens. Scores of youth in [...]
On Tuesday night, January 24th, 2012, President Barak Obama delivered his final ‘State of the Union’ address, before the November’s presidential election. He used the speech as a platform for his re-election bid. At the beginning and in the end of his address to the Congress, President Obama spoke about the US army as an [...]
The Spanish Prime Minister Mariano Rajoy has committed himself to cut the Spain’s budget deficit to 4.4% of GDP in 2012 and further down to 3% of GDP in 2013. However, it seems that the target will not be achieved. Mr Rojoy’s government has already announced over a 15 billion euro emergency programme of [...]
Posted in Economy and Finance, Europe, Featured, Politics in the World 
Tags: election, finance, Spain, the euro zone debt crisis, unemployment 
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Italy has replaced Greece as the biggest source of investors concerns. On Tuesday, November 8th, 2011, the Prime Minister of Italy Silvio Berlusconi won the vote on the ratification of 2010 public accounts, but obtained only 308 votes, eight short of an absolute majority in the 630 seat Chamber of Deputies. Mr Berlusconi signalled that [...]
Inspired by the ‘Occupy Wall Street’, a leaderless resistance movement from the United States of America, protesters from the ‘Occupy Dame Street’ have been camped out in front of Ireland’s central bank, located on Dame Street in Dublin City Centre since Saturday afternoon, October 8th, 2011. They say ‘We are the 99% that will not [...]
Posted in Economy and Finance, Europe, Featured, Politics in the World Tags: finance, Ireland, protests, unemployment No Comments »
On 2nd September, 2011 Spain’s lower house of parliament approved a constitutional amendment that would limit the public deficit to 0.4% of GDP. However, it will not take effect until 2020. The amendment adopted by the Spanish lawmakers is called the ‘golden rule’ and it’s based on the Germany’s constitutional ‘debt brake’ rule. Generally, it’s [...]
