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Is Greece true about the austerity measures

admin — Tue, 04 Oct 2011 14:01:35 +0000

Even though the stock market is bearish due to the debt crisis of Greece and other countries of Euro zone. Measures have been taken up and Greece finance minister Evangelos Venizelos stated some statements in meetings of G20 and IMF. The Greece and euro zone countries may go bankrupt is actually a ridiculous thing he stated as Greek authorities need 11 billion dollars. There has been social unrest in Greece and there is a speculation of Greece going into default and get more into crisis.

The authorities of Greece may even bring in privatization deals as there has been increase pressure given from the creditors. The tough fiscal targets has bought in tough times for Greece and its people as they have taken more efforts to bring in changes. Greece will live up to its commitments given and Greece will fight its way out towards Growth and prosperity even after the period of pain stated Papandreaou. The decisions which will be taken up by the European leaders during July 21 will help in the rescue of EU and go towards the right direction. The reforms will need some time to yield good results and the efforts will surely solve the crisis stated the Greek leader.

The Greek leader compared the position of Greece with former communist east Germany and whether he is elected or not his aim is to save the country. Greece has taken most energy to build back its structure and as the stock market rallied during Tuesday the hope still goes on. In-spite of all these one can notice that the European leaders are taking hold of the long running crisis which is threatening the euro project.

Fight continues between rebels and government forces

admin — Tue, 04 Oct 2011 13:58:58 +0000

During the rare cross border incursion in Libya one could see supporters of el- Qaddafi carrying weapons. The Fighters loyal to Muammar Qaddafi had taken cars which was loaded with weapons from Algerian border to Libya. The weapons were used by the Fighters to attack the former rebel forces stated Military officials on Sunday. The attack has been happening and there has been a large number of deaths reported and most are anti-quaddhaffi.

The details of the fight and he number of people dead and survived ones were being reported by the Associated Press.The incursion has raised a suspiosion of the supporters may have plans to deposed the leader of Libya. The Libyan leader Muammar el-Qaddafi has been driven by most of the people and yet he has a strong hold from Libya. So there was fighters who have found a stronghold base in neighboring country and now has mount attacks. The Colonel Qaddaffi was overthrown by the rebels and are now started to tackle the relationship with Algeria.

Algeria has been accused for giving arms to the the forces of Qaddhafi during the attack and after Tripoli fall Colonel troops have fled. As a report given by military spokesman Ahmed Omar Bani the Qaddhafi have crossed the border just few days before. The provisional government have reported that a grave near Tripoli has a mass remains of about 1,200 people mostly prisoners.

Syria goes online as Freedom struggle gathers momemtum

admin — Sun, 12 Jun 2011 06:38:22 +0000

Most of the internet users who are protesters have been blocked off the internet usage and the social media. Syrian government has taken up efforts to crack down the use of social media and internet usage by some people. Many protesters may start the internet to promote the rebellion and within three months the whole thing may spread. Just after three months the citizens of Syria were allowed to use Face book and access You tube and spread rebellion.

The details of the off line was revealed by some of the Syrian activists and the digital privacy experts. The multiple fronts are moving by the Security officials and has demanding the dissidents to turn off the face book passwords. Security officials are even asking to turn over the passwords of facebook and then switch off the 3G mobile network. Some of the 3G mobiles have been limited with the abilities of dissidents and to upload some videos on protests.

There are some foreign journalists who have been debarred from the country and some dissidents are working in secrecy. Some of the protesters are using face book You Tube along with Twitter in exiles and has bought the attention of the globe. The military crackdown over the protesters till now has killed many people and approximately it is about 700 people. There has been page created in Face book called as Syrian Revolution 2011 and has about 1,80,000 members and main source for the protesters.

US FED says it would intervene to keep US humming

admin — Sat, 28 Aug 2010 03:55:45 +0000

The US FED made the expected statement yesterday on the need to keep the US economy humming, but it sounds more like a rhetoric rather than reality. The US FED has no scope for cutting down interest rates to prop up the economy as the rates are already near zero.
The US FED has a already bloated balance sheet and it cannot afford the risk of making global investors / debtors for the US wary, by bloating it further. There could rather be a cut in further investments into the US treasuries by Japan / Germany / China, which together provide over 70% of the monthly debt needs of US.
That in turn could force the US FED to start raising the rates, which in turn could be bad for the US economy.

Chinese economy overtakes Japan

admin — Thu, 19 Aug 2010 14:04:45 +0000

China economy on Monday overtook Japan and ranked next to US. After Tokyo showed a weak economy the power was been shifted to the land of rising sun. The second quarter of Japan’s GDP saw a less growth of 0.1% q-o-q which was driven by weakness.
The weakness was in seen in Japan’s growth due to the export and domestic consumption. The economy details about different nations were noted by Standard Chartered regional economist Simon Wong. The economic output of Japan is estimated to be $1.28 for the quarter which seems to be marginally below of China. The economic output of China is $1.33 trillion which will help China to be on the course. Reading much into the statistical milestone must be cautiously done say analysts.
China is overtaking Japan which is symbolic says the economist Kyohei Morita from Barclay’s Capital. The GDP of China seems to be more illustrative of the economic strength said Morita. The per capita of China is 127th in the world and is smaller economies like Angola. Long ago the developing country, China has grown and crossed its landmark and is at present world’s second economy says Dean Baker. Dean Baker is co director of the Centre for Economic and Policy Research.

Global markets are sinking

admin — Mon, 07 Jun 2010 06:35:38 +0000

The global stock markets had ended the last week on a pathetic note, and things are looking worse for the new week also. Yes, all the major stock markets have gone down anything between 2% to 4% on Monday, thanks to Hungary comments on near default by that country.
Also the US job additions were far below the expectations, and that report was released on Friday after the close of most of the Asian markets. So that negative impact is being reflected in today’s trading.
European markets are expected to open on a decent note today, as Hungary has come out with soothing statements on Saturday.

New Immigration policy hard on migrants

admin — Thu, 13 May 2010 15:54:39 +0000

The new British government will find difficult in occupying immigration. The new skilled professionals and students will find difficult to settle in Britain. The reason behind is the new David Cameron government which puts conservative policy among immigration. Immigration policy has put a annual limit and curbs for migrants from India and other countries.

New coalition government has made the immigration policy which is hard on migrants from India, European Union especially. Immigration policy is region based migration which is formed by the Liberal Democrats. Immigration policy is hard on illegal migrants in UK for 10 years. Main aim of conservative party’s policy is to reduce the number of immigration to the levels of the year 1990.

The level of immigration of 199- level is about tens of thousands of a year. At present the migration is about hundreds of thousands every year which is under Labor government. The number of European Union migrants who will be working in Britain will be considerably reduced. The reason behind is the raising population of European union population in public services and local communities.

A multi billion dollar bailout worked out for Greece

admin — Wed, 05 May 2010 14:57:58 +0000

Greece has made a deal with European Union and IMF for a multi billion deal. The government has expected the Greek people to make big sacrifices. The Prime Minister George Papandreou addressed the Greek people on Sunday. The financial bailout is total of $160 billion and still needs backing.

The backing is from Greece European peers from May 19.The Greece capital is under huge debt repayments to the creditors. The economic collapse has announced the budget cuts of $40 billion over three years. The EU limit by 2014 originally promised by Athens the Greek capital. The main aim of the aid package is to rescue the member of 16 nation Euro zone.

The second aim is to stem a debt crisis which has shaken the markets. The austerity drive has lead to the strike by Greeks against the economic collapse. Greeks needs to have responsibility and these sacrifices will help have breathing space. The minister said the choice is between collapse and salvation. The structural reforms will bring about a lot of changes else the country will reach the dead end.

Iceland eruption pulls down European revival hopes

admin — Sun, 18 Apr 2010 04:13:16 +0000

The eruption volcano name is Eyjafjallajokull which is situated in Iceland. In UK only there was canceling of 300 and more flights. Northern Europe faced a fired ash on Thursday due to the volcanic eruption. The volcano had already melted a surrounding glaciers part which caused severe floods. Around 700 or more people had to move and evacuate their homes.

The volcano situated in south east Iceland created a huge cloud of ash. The second major eruption in Iceland which has happened within a month. The huge cloud blew eastwards across Atlantic which caused the closure of major airports. The major airports which were 1,000 miles away from the huge cloud of ash. Airspace of all the flights was being closed by Britain due to the eruption.

Norway, Denmark and northern Sweden airports were shut down which was announced by the authorities. Belgium, France, Finland, Germany and Netherlands had faced major disruption due to the eruption. London’s Heathrow had flights out of 300 and more said the reports. Transatlantic closed its services even Britain many flights were being cancelled. About five to six miles people could see the ash and nothing could be seen from ground. The volcanic eruption actually happened on Wednesday during midnight in southern Iceland.

Moody’s downgrades Iceland debts

admin — Tue, 06 Apr 2010 14:02:33 +0000

The European crisis is not showing any signs of fading off. The confusion on how to fund any Iceland debt requirement by the European heavy weights, has forced Moody’s to downgrade Iceland rating to negative from Stable.
This rating downgrade would make life more difficult for Iceland and also for other troubled European countries namely Spain, Greece and Portugal. Over the coming days, we might see further downgrades of some more weak European nations mentioned above.
That could be a overall dragger for the entire European Zone which does not augur well for the global economy as a whole. The inflation has already started rearing it’s head in the last few weeks, and that could only make the European recovery that much more difficult.