Why Cyprus (Probably) Can’t Happen in the US – CNBC

03/29/2013 By Leave a Comment

cyprusArticle authored by Jeff Cox and appeared on CNBC.  Article is courtesy of cnbc.com

One of the reasons the crisis in Cyprus has had limited market effects is that something like that would be unlikely to be repeated in the U.S.

That’s not to say it could never happen. The truth is, there have been bank runs pretty much as long as there have been banks, so a liquidity crisis certainly could hit American financial institutions and cause substantial damage. But as a matter of scale, the problems in Cyprus are far worse than anything likely to wash up on U.S. shores. [Read more...]

Filed Under: Economy, EU, Featured, U.S. News, United States, World News Tagged With: , , ,

Britain Set to Lose second AAA Credit Rating

03/22/2013 By

UK to be downgraded-1Article authored by Phillip Inman and appeared in The Guardian.  Article is courtesy of guardian.co.uk

George Osborne was served notice on Friday night that the UK’s AAA credit status will be downgraded for a second time when ratings agency Fitch said Britain’s lack of growth and rising debt mountain meant there was a “heightened probability of a downgrade in the near term”. [Read more...]

Filed Under: EU, International News, World News Tagged With: , , , , , ,

U.S Scraps Final Phase of European Missile Shield – Opens Door with Russia for Arms Reductions

03/18/2013 By Leave a Comment

U.S. Missile Defense-2Article is courtesy of BBC News.

U.S Defence Secretary Chuck Hagel has scrapped the final phase of its European missile defence shield, citing development problems and funding cuts.

Upgraded interceptors were to have been deployed in Poland to counter medium- and intermediate-range missiles, and potential threats from the Middle East.

Mr Hagel said the threat had “matured” and that the US commitment to Nato missile defence remained “ironclad”. [Read more...]

Filed Under: EU, Featured, International News, Politics, U.S. News, United States, World News Tagged With: , , ,

Britain’s Economy Is a Disaster and Nobody Is Entirely Sure Why – The Atlantic

01/28/2013 By

David Cameron-1Article authored by Matthew O’Brien and appeared in The Atlantic.  Article is courtesy of theatlantic.com

Britain’s GDP fell again in the fourth quarter of 2012, raising the specter of a triple-dip recession.

Britain’s economy is a riddle wrapped in a mystery inside an enigma, but this much is clear: it’s a disaster. After its Olympics-fueled growth, such as it was, lifted it out of recession in the third quarter of 2012, Britain might be headed back after its economy fell 0.3 percent at the end of the year — the fourth time in five quarters its GDP has contracted. Britain’s now verging on a triple-dip recession, which is just another way of saying a depression. [Read more...]

Filed Under: EU, International News, World News Tagged With: , , , ,

US Debt Ceiling Looms Large at Davos World Economic Forum – CNBC

01/17/2013 By

World Economic ForumArticle authored by Geoff Cutmore and appeared on CNBC.  Article is courtesy of cnbc.com

Whisper it quietly, lest events change in the next few days — but in a departure from recent times, this year’s annual think-fest in the snow will be dominated by the fiscal crisis in North America rather than Europe.

Not because Europe’s debt problems are fixed, of course. They’ve just been knocked off the front pages by the dance of proposal-and-recrimination in Washington. With delicious timing, the World Economic Forum occurs as U.S. politicians scramble to meet another deadline, and the debt ceiling looms large. This topic will dominate conversations both on and off the official agenda. [Read more...]

Filed Under: Country, Economy, EU, International News, Politics, U.S. News, United States, World News Tagged With: , , ,

Germany accused of ‘deporting’ its elderly because of sky-high care costs – Mail Online

12/28/2012 By

Germany accused of ‘deporting’ its elderly: Rising numbers moved to Asia and Eastern Europe because of sky-high care costs

*Country’s elderly and sick being sent abroad due to rising care costs

*Situation described as ‘inhumane deportation’ and a huge ‘alarm signal’

*Warning to Britain where pensioners are selling homes to pay for healthcare

 

German pensioners are being sent to care  homes in Eastern Europe and Asia in what has been described as an ‘inhumane  deportation’.

Rising numbers of the elderly and sick are  moved overseas for long-term care because of sky-high costs at home.

Some private healthcare providers are even  building homes overseas, while state insurers are also investigating whether  they can care for their clients abroad. [Read more...]

Filed Under: EU, World News Tagged With: , , , , ,

Europe clings to scorched-earth ideology as depression deepens – Telegraph

12/10/2012 By

Article authored by Ambrose Evans-Pritchard and appeared in The Telegraph.  Article is courtesy of telegraph.co.uk

The strategy of triple-barrelled contraction across a string of inter-linked countries has been the greatest policy debacle since the early 1930s. The outcome over the last three years has been worse than forecast at every stage, and in every key respect.

The eurozone has crashed back into double-dip recession. It will contract a further 0.3pc next year, according to a chastened European Central Bank. The ECB omitted mention of its own role in this fiasco by allowing all key measures of the money supply to stall in mid-2012, with the time-honoured consequences six months to a year later. [Read more...]

Filed Under: Economy, EU, Featured, World News Tagged With: , , ,

Venice ‘high water’ floods 70% of the city – guardian.co.uk

11/12/2012 By

Article authored by Tom Kington and appeared in The Guardian.  Article is courtesy of guardian.co.uk

Tourists attached plastic bags to their legs or stripped off to take a dip in St Mark’s Square in Venice on Sunday as rising sea waters surged through the lagoon city. High water measuring 1.49 metres (5ft) above the normal level of the Adriatic sea came with bad weather that swept Italy at the weekend, causing floods in historic cities including Vicenza as well in the region of Tuscany 250 miles further south.

Venice’s high water, or “acqua alta”, said to be the sixth highest since 1872, flooded 70% of the city and was high enough to make raised wooden platforms for pedestrians float away. The record high water in Venice – 1.94 metres in 1966 – prompted many residents to abandon the city for new lives on the mainland. [Read more...]

Filed Under: EU, Featured, World News Tagged With: , , ,

London to lose title of world’s finance capital – The Guardian

11/12/2012 By

Article authored by Simon Bowers and appeared in The Guardian.  Article is courtesy of guardian.co.uk

London can expect to lose its crown as the leading global centre for high finance this year amid a barrage of City job cuts, falling bonuses and competition from rival hubs led by New York, Hong Kong and Singapore, according to a study.

By 2015 the explosion in jobs in Hong Kong will have pushed the Square Mile into third place on a league table of international financial centres, says the Centre for Economics and Business Research (CEBR).

The CEBR also had more immediate bad news for London’s bankers, suggesting combined City bonus pools are likely to slip to £4.4bn this year, down from £6.75bn for 2011 and £11.56bn in 2008. [Read more...]

Filed Under: Economy, EU, United States, World News Tagged With: , , , , , , ,
Next Page »
Website Apps