Greece wants tax cuts, extra help for the poor and unemployed, a freeze on public sector lay-offs and more time to cut its deficit under a plan likely to run into strong opposition at a European Union summit next week. The new coalition government’s program, seen by Reuters on Saturday, reflected public pressure to ease…
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India stuns, keeps rates steady as growth crumbles | Reuters
by Newswires • • 0 Comments
India’s central bank defied widespread calls on Monday to revive the flagging economy with cuts in interest rates and cash reserve minimums at banks, putting the onus on a fractious coalition government to pull the country out of crisis. The Reserve Bank of India left its policy repo rate at 8 percent and the cash…
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Eurozone Debt Crisis: What to Expect if Greece Dumps the Euro
by Diane Alter • • 0 Comments
The only certain thing if Greece leaves the Eurozone is the uncertainty that will certainly follow.
Unable to form a coalition government during May elections, Greece has been forced to hold a second vote on June 17.
In the balance is the future of the Eurozone itself as a “Grexit” looms large.
So much is riding on the outcome that U.S. President Barack Obama and other leaders of the G-8 have conveyed their optimism that Greece will remain in the Eurozone when they convened for a summit on Saturday aimed at keeping Europe’s economic woes from stretching around the globe.
“All of us are absolutely committed to making sure that growth and stability and social consolidation are part of an overall package,” President Obama said.
But many other principals and economic experts are not as committed and believe a Greek exit would be the best move in the long run.
The question is what impact its departure will have beyond its own ailing borders if Greece renounces its debt and leaves the Eurozone.
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German Press Review of Greek Election and Political Chaos – SPIEGEL ONLINE
by Newswires • • 0 Comments
Greece’s election has brought a political sea change to the country, after bitter voters hammered established parties for supporting austerity measures in exchange for international bailouts. As Athens veers towards political chaos, German editorialists predict hard times ahead. Greece appears to be sinking ever further into a political quagmire after a first push to form a…
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Putin Loses Majority In Russian Elections As Communist Party Soars
by Bears Chat at The Wall Street Examiner • • 0 Comments
This is interesting. I haven’t kept track of the RF recently, but do recall a poll a while back showing a majority of citizens favored a revival of the USSR in some form.
Putin Loses Majority In Russian Elections As Communist Party Soars
With 70% of…
Bears Chat, Best of the Forums
Greek opposition refuses to join coalition
by Bears Chat at The Wall Street Examiner • • 0 Comments
Greek opposition refuses to join coalition
By Kerin Hope in Athens
George Papandreou’s chances of putting together a strong coalition government that could persuade international lenders to unblock fresh funding for Greece have faded after the conse…
