Figures based on IMF 2011 projections in World Economic Outlook: Slowing Growth, Rising Risks, published September 2011. FRANCE – French President Nicolas Sarkozy (as translated): “The plan adopted last Thursday, unanimously by all 17 members of the eurozone, is the only possible to resolve the Greek debt problem.” Debt/G.D.P.: 86.9% Unemployment, 2011: 9.5% S & […]
Euro R&D Bank: World Slow To Resolve Greek Crisis
Posted September 28th, 2011 at 4:31 pm (UTC-5)
The first vice president of the European Bank for Reconstruction and Development says the world has waited too long before attempting to resolve the Greek economic crisis. In an exclusive interview with the Voice of America’s Ukrainian Service, Varel Freeman said decisive action earlier would have helped to reach consensus on appropriate solutions. He said […]
Greek Prime Minister Promises to Fulfill Commitments
Posted September 27th, 2011 at 7:31 am (UTC-5)
Greek Prime Minister George Papandreou has promised that Greece will fulfill its financial obligations incurred during the ongoing debt crisis. He made the comments Tuesday at a German industry forum in Berlin. Both Mr. Papandreou and German Chancellor Angela Merkel were to address the German Federation of Industry forum before meeting to further discuss the […]
Belgian Parties Clear Hurdle Toward Forming Government
Posted September 15th, 2011 at 6:35 am (UTC-5)
Belgium’s Dutch- and French-speaking parties say they have reached an agreement on a key issue toward forming a new government 15 months after the election. The eight parties said Thursday they have a deal on splitting up an electoral district in the bilingual Brussels area. They released a joint statement that talks on economic and […]
Belgian King Returns To Resolve Political Crisis
Posted September 14th, 2011 at 3:00 pm (UTC-5)
Belgian King Albert cut short his holidays in France and headed back to Brussels as talks there on forming a government threatened to collapse Wednesday, prolonging a 15-month-long political crisis. Belgium has been without a government since June 10, 2010, as leaders of the country’s deeply divided French- and Dutch-speaking communities have been unable to […]
Hostage Drama Ends in Sydney Legal Building
Posted September 6th, 2011 at 7:50 am (UTC-5)
A hostage standoff has ended without injury at a legal office in Sydney, Australia, with police raiding the building to arrest a man holding his daughter hostage while claiming to possess a bomb. The man entered the building complex earlier Tuesday with the girl and told a court clerk to call the state attorney general’s […]
Hostage Drama Unfolds at Sydney Legal Building
Posted September 6th, 2011 at 12:10 am (UTC-5)
Police in Sydney, Australia, say they are engaged in a standoff with a man who walked into legal offices with his daughter and claimed to be carrying a bomb. A court clerk says the man came into the building complex, which also houses courtrooms, with a young girl. The clerk says the man demanded that […]
ECB Resumes Bond Purchases to Help Indebted Eurozone Governments
Posted August 4th, 2011 at 1:05 pm (UTC-5)
The European Central Bank says it has resumed purchases of bonds from indebted governments to help them overcome a debt crisis that some investors fear could draw in big economies like Italy and Spain. ECB President Jean-Claude Trichet said Thursday the bank’s governing council voted in favor of buying more government bonds, but he did […]
ECB Resumes Bond Purchases to Help Indebted Eurozone Governments
Posted August 4th, 2011 at 1:00 pm (UTC-5)
The European Central Bank says it has resumed purchases of bonds from indebted governments to help them overcome a debt crisis that some investors fear could draw in big economies like Italy and Spain. ECB President Jean-Claude Trichet said Thursday the bank’s governing council voted in favor of buying more government bonds, but he did […]
Italy, Spain Face Soaring Borrowing Rates
Posted August 3rd, 2011 at 1:10 pm (UTC-5)
Borrowing rates in Italy touched a new euro-era high Wednesday, raising concerns the continent’s third-largest economy could be on the verge of a Greek-style financial crisis. In a volatile day of trading, Italy saw its 10-year borrowing rates soar above 6 percent. In a speech to parliament, Prime Minister Silvio Berlusconi said Italy has a […]
