Tag Archives: European Crisis

Selling State Treasures to Run the State

With their treasuries empty and their finances in the worst condition that any politician alive can remember, European states are selling their state treasures to enable them to run the state. Yet no one really understands the how long and … Continue reading

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Canadian Prime Minister Stephen Harper Doesn’t Want to Sound Alarmist But…

“I do think in a sense, here, I don’t want to sound too alarmist, but we are kind of running out of runway here,” Harper said Monday. “And in terms of structure of the eurozone and in terms of addressing … Continue reading

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Europe debt crisis triggers fall in oil demand

Within the OECD, European oil demand has taken a substantial hit. In aggregate, European oil consumption contracted at a rate of 272 thousand bpd or 1.9 percent last year. Similarly, crisis-struck Greece has seen its oil consumption rate contract by … Continue reading

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European Union in peril without reform, warns David Cameron

The European Union is in “peril” unless leaders grasp the “opportunity” presented by the single currency crisis to reform the institution, David Cameron has warned. ********** Read more here: http://www.telegraph.co.uk/news/politics/david-cameron/8890193/EU-debt-crisis-European-Union-in-peril-without-reform-warns-David-Cameron.html

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All major economies headed for slowdowns: OECD

None of the world’s major economies will escape a slowdown, the Organization for Economic Co-operation and Development said on Monday, highlighting increasing signs that growth momentum is dwindling across the board. ********** Read more here: http://www.reuters.com/article/2011/11/14/us-economy-oecd-indicator-idUSTRE7AD0OO20111114  

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Vince Cable: Eurozone could unleash armageddon

EUROPE’S debt crisis could unleash economic “armageddon” which will collapse UK banks, Business Secretary Vince Cable warned yesterday. His apocalyptic prediction came as David Cameron told fellow European leaders that time is running out to save the euro. EU chiefs … Continue reading

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New recession threatens the globe as debt crisis grows

Professor Simon Johnson, a former chief economist at the IMF, rattled nerves earlier this week by warning the world is “looking straight into the face of a great depression”. … The IMF said loans have doubled to almost 200pc of … Continue reading

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