The Ukrainian economy may never recover its $13.4 billion outlay to host next month’s European football championship, claimed a report by Reuters on Sunday, as corruption scandals and a growing debt burden continues to weigh heavily on the nation’s investment attractiveness.
Business owners from a small border town in Ireland have begun accepting payment for services in punts – the pre-euro Irish currency – in the hopes of improving the local economy, claimed a report by The Guardian on Sunday.
As the Spanish economy struggles under the weight of its debt, Spanish public television directors have urged its representative at the Eurovision Song Contest, Pastora Soler, not to win because Spain cannot afford to stage next year’s contest. Under the rules of the contest, the public broadcaster of the country that wins the contest will have to host the competition the following year.
The Malaysian government is attempting to claim compensation from several organisers of the recent ‘Bersih’ (clean in Malay) mass protest rally for fairer elections, after alleging that the campaign’s street-wide demonstrations had caused significant damage to public and government property.
From the subprime crisis that started in the United States 4 years ago, to the uncontrollable European sovereign debt crisis, we’ve seen countless of bailouts in the last 3 years. Governments have stepped in with taxpayer money to save banks, financial institutions, and indebted countries like the PIIGS. This infographics provides a recap on some of the biggest bailouts we’ve seen in recent history.
Vatican Bank president Ettore Gotti Tedeschi has been removed from his position as the Holy See’s chief banker after receiving a unanimous vote of no-confidence from the bank’s board of lay members – who blamed Tedeschi for failing to improve the financial institution’s governing standards.
All of the biggest heists in the world have one thing in common: A daring audacity to break the network of protection and security technology that have become so advanced and sophisticated over the years. This infographic presents some of the world’s largest, and infamous, heists.
While China’s economy is still booming compared with other world economies, the World Bank has once again cut China’s growth forecast to 8.2 percent. Calling on China to act quickly, the World Bank added that a slowing Chinese economy will be a burden to emerging East Asian economies, and warned that a deteriorating European debt crisis could inflict even greater damage on China.
The European Central Bank (ECB) secretly approved 100 billion euros ($125 billion) in emergency liquidity assistance (ELA) to Greece’s struggling banking industry, revealed the Financial Times this week, who also discovered similar discreet aid to other troubled eurozone nations.
Russian President Vladimir Putin has signalled his support for a controversial new anti-protest bill, which will increase fines for any unsanctioned protestor from the current maximum of 5,000 rubles ($160) to 1,000,000 rubles ($32,250).
