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Weak Economy Raises Risk

Posted November 7th, 2011 at 2:55 pm (UTC-5)
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Greece’s debt is equivalent to 165% of the nation’s Gross Domestic Product. George Mason University finance professor Gerald Hanweck says the Greek debt to GDP ratio is a problem because the economy is shrinking. The Greek economy is dependent on tourism and agriculture and has little capacity to generate the income needed to pay off […]

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Data on Eurozone Key Players

Posted November 2nd, 2011 at 3:00 pm (UTC-5)
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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 & […]

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European Central Bank to Ease Debt Crisis

Posted August 7th, 2011 at 8:55 pm (UTC-5)
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The European Central Bank has announced that it will buy government bonds from Italy and Spain, in an effort to calm market fears about the euro zone debt crisis. In a statement issued Sunday, the bank welcomed plans by Italy and Spain for economic reforms and debt-reducing measures, and it urged their speedy implementation. Central […]

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Europe Banking Officials Discuss Debt Crisis

Posted August 7th, 2011 at 1:55 pm (UTC-5)
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HEAD: Europe Banking Officials Discuss Debt Crisis DATE: 08/07/11 NUMBER: 1230040 TYPE: CN )) Officials from the European Central Bank are engaged in urgent telephone negotiations over the debt crisis facing both Europe and the United States. They are discussing the possibility of purchasing Italian government bonds in order to shore up that country’s economy […]

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Europe Banking Officials Discuss Debt Crisis

Posted August 7th, 2011 at 1:15 pm (UTC-5)
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Officials from the European Central Bank are engaged in urgent telephone negotiations over the debt crisis facing both Europe and the United States. They are discussing the possibility of purchasing Italian government bonds in order to shore up that country’s economy and protect the value of the euro, Europe’s common currency. There is also concern […]

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Obama: Debt Deal Averted ‘Disastrous’ Economic Blow

Posted August 3rd, 2011 at 5:10 pm (UTC-5)
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U.S. President Barack Obama says the last-minute compromise deal to raise the country’s borrowing limit and cut spending averted a possible “disastrous blow” to the United States economy. But Mr. Obama said Wednesday before a Cabinet meeting it will be “challenging work” for Congress to find additional ways to lower the country’s deficit, as required […]

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Treasury Secretary Defends US Debt Deal

Posted August 3rd, 2011 at 9:15 am (UTC-5)
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U.S. Treasury Secretary Timothy Geithner is defending the compromise deal to cut spending and raise the country’s borrowing limit, saying it gives government officials a chance to fix a broken system. Writing in Wednesday’s Washington Post, Geithner says the last-minute debt deal signed Tuesday takes away the threat of a default, which could cause interest […]

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China Expresses Disgust Over US Debt Deal

Posted August 3rd, 2011 at 2:40 am (UTC-5)
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America’s biggest creditor — China — is signaling deep unhappiness over this week’s deal to raise the U.S. debt ceiling and the way it was accomplished. A Chinese credit rating agency Wednesday downgraded U.S. debt, saying the deal does nothing to address the underlying problem. And the official Xinhua news agency dismissed the negotiating process […]

Tags: , , Posted in East Asia Pacific, Economy, US

Chinese Rating Agency Downgrades US Debt Despite Deal

Posted August 2nd, 2011 at 11:10 pm (UTC-5)
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A little-known Chinese debt rating agency has downgraded the U.S. credit rating. The agency, Dagong Global Credit Rating, lowered its rating for U.S. debt from A-plus to A, saying the deal reached in Washington this week will not solve the underlying U.S. debt problems or improve the country’s ability to pay. The action comes as […]

Tags: , , , , Posted in East Asia Pacific

China to Monitor Implementation of US Debt Ceiling Bill

Posted August 2nd, 2011 at 8:55 pm (UTC-5)
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The governor of China’s central bank says he welcomes passage of the U.S. debt ceiling bill, and will closely observe its implementation. In a statement Wednesday, Zhou Xiaochuan said China hopes the Obama administration and Congress take responsible policy measures to deal with the U.S. debt issue, to help protect worldwide financial interests and investors […]

Tags: , , , , Posted in East Asia Pacific