Greek Prime Minister Antonis Samaras as called on international lenders for “more time” and “breathing room” as it struggles to meet its bailout obligations. However, he insisted that Greece is not looking for additional bailout money.
His comments were published by Bild, Germany’s most-read newspaper, who had recently accused Greece of “making our euro kaput” and had only a few days ago referred to the country as a “bottomless pit.”
Over the next six months market volatility will likely taper off as investors, coming to terms with a recessionary Europe and a tepid US economy, hunt for value across various asset classes.
Stefan Keitel, Global Chief Investment Officer for Asset Management and Private Banking at Credit Suisse, expects markets to stay volatile, but gradually stabilize later this year. “Sluggish global growth and Eurozone concerns will continue to weigh on investor sentiment,” he says. “But these worries have, to a visible extent, already been priced into the markets.”
Since 1951, the Indian government has somehow managed to fail every single attempt to reach its annual target of increasing the nation’s electricity production capacity. But while the nation continues to struggle with crippling blackouts and power shortages till today, an energy plan, conceived during the 1950s, may fundamentally alter the nation’s, and quite possibly the world’s, energy future.
The European Central Bank (ECB) is planning to hire more workers to monitor the eurozone crisis, reported the Associated Press on Wednesday, after Bank President Mario Draghi admitted that his 1,600-strong full-time staff were “overworked” and at risk of burning out.
A leading member of the European Central Bank has said a Greek exit from the common currency would eventually be manageable. However, the official cautioned that it is not the preferred outcome for the eurozone debt crisis as the process could be chaotic and extremely costly.
The comments by ECB executive board member Joerg Asmussen came at the start of a crucial week for Greece as it aims to persuade partners to release more bailout aid to keep the economy afloat.
Recent economic data has shown that China is slowing down. The question is: Should we attempt to revive growth in the world’s second largest economy? Perhaps not. As it is, China bulls have been late in recognising the unhealthy implications of China’s imbalances and, more often than not, have failed to understand that rebalancing cannot occur unless accompanied by a rise in real interest rates and a subsequent fall in investment and growth levels.
The government of India is reportedly upset with their Sri Lankan counterparts for approving the sale of a prime plot of land in Colombo – that was originally promised to the Indian High Commission – to a Chinese state-owned aviation company, said the Times of India on Monday, with the sale by Sri Lanka believed to have taken many Indian officials by surprise.
Finland’s foreign minister has openly admitted that the Nordic state is preparing for the possibility of a eurozone breakup.
In an interview with the Telegraph, Erkki Tuomioja, Finland’s veteran foreign minister said that Finnish officials have been preparing for the breakup of the single currency with an “operational plan for any eventuality.”
He said:
READER SUBMISSION – As America’s largest trading partner, Canada’s economic fortunes are intimately tied to those of the United States. Yet thanks to a largely domestic-focused economic action plan, Canada has demonstrated remarkable economic resilience to the global financial turmoil.
Since assuming power in 2006, and achieving majority government status in parliament in 2011, Canada’s Prime Minister Stephen Harper and his Conservative Party has led the country on a course of relative economic stability, as compared to its peers.
The baby boomer generation in United States currently stands around 80 million Americans, contributing to nearly half of America’s total consumption. While they may be ageing, some retiring earlier than before, can this influential generation of Americans help to revive the national economy?
