A fully fledged federal Europe may seem like “political science fiction” today but will soon become reality for all European Union countries whether inside or outside the euro, Jose Manuel Barroso has said.
Britain’s Debt Mountain Reaches £1.39 Trillion, Equivalent to 90% of the Entire Economy – Mail Online
Britain’s debt mountain has topped £1.387trillion, and is now the equivalent of 90 per cent of the entire economy.
The grim milestone was passed at the end of 2012, new figures from the Office for National Statistics revealed today. [Read more...]
LUDWIGSHAFEN, Germany — The sprawling chemical plant in this city along the Rhine River has been a jewel of Germany’s manufacturing-led economy for more than a century. But the plunging price of natural gas in the United States has European companies setting sail across the Atlantic to stay competitive. [Read more...]
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...]
Savings accounts in Spain, Italy and other European countries will be raided if needed to preserve Europe’s single currency by propping up failing banks, a senior eurozone official has announced.
The new policy will alarm hundreds of thousands of British expatriates who live and have transferred their savings, proceeds from house sales and other assets to eurozone bank accounts in countries such as France, Spain and Italy. [Read more...]
You can be forgiven for thinking that you don’t need to give a hoot about what’s going on in Cyprus this weekend.
After all, it’s just a little island somewhere in the Mediterranean.
But what’s going on in Cyprus could actually matter — not just to the rest of Europe, but to the rest of the world. [Read more...]
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...]
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...]