Tag: crisis
crisisThe crisis in advanced countries “was never over, it’s chronic’ warns Brazilian minister
Brazil’s Finance Minister Guido Mantega admitted Monday that if the international crisis in the EU and US markets persists, Brazil would have to lower its growth estimate.
IMF warns Europe must address “underlying problems”
A government debt crisis that has engulfed the Euro-zone should serve as a “wake-up call” for European governments to keep a more watchful eye on their budgets, the International Monetary Fund (IMF) said Wednesday.
Chinese trade “has recovered to pre-crisis levels” affirms Beijing
China’s trade surplus widened to the highest this year and exports climbed more than estimated to a record in June, adding pressure on the government to let the currency gain after the U.S. said the Yuan “remains undervalued.”
European crisis ‘key risk’ for UK banking sector, warns Bank of England
The European debt crisis is a “key risk” to the UK's banking sector and banks should build up their cash reserves in response, the Bank of England has warned. In its latest financial stability report, the central bank welcomed recent measures taken by the EU to stem the crisis.
World Stock Markets Plunge and Euro Falls to 18-Month Low
World stock markets plunge Friday and the Euro hit an 18-month low against the dollar, on growing fears that the austerity packages unveiled across Europe could tip the continent back into recession and stifle global economic recovery.
Volcker Fears Potential Disintegration of the Euro, Without Common Fiscal Policy
Former Federal Reserve chairman and advisor of the Obama administration is concerned that the Euro area may break up after the Greek fiscal crisis that sparked an unprecedented bailout by the region’s members.
IMF Warns Developed Countries on “Urgent” Need to Cut Budget Deficits
The International Monetary Fund has warned developed nations they face an “urgent” need to cut their budget deficits. Its warning comes as a slew of European countries face public unrest over their attempts to do just that.
Portugal Joins Euro Belt-Tightening Bandwagon but with Strong Political Support
Portugal has become the latest country to introduce austerity measures, after both Greece and Spain took similar steps to stabilize public finances in the face of massive debt.
Home Repossessions in the US Hit Record High; Candle at the End of the Tunnel
The number of US homes being repossessed hit an all-time high last month, but is set to start falling, says the body that tracks the figures. Banks took control of 92,432 properties in April, up 1% from March, and a 45% rise from a year earlier, said RealtyTrac.
US Looking into Possible Banks-Credit Rating Agencies Collusion
Eight banks are facing a US investigation into the rating of their mortgage products, the BBC understands. New York Attorney General Andrew Cuomo is looking at whether the relationship between the banks and credit rating agencies was manipulated to gain better ratings for risky securities.
