Tag Archives: crisis
United States investment bank JP Morgan has agreed to pay $4.5bn to investors who lost money on mortgage-related securities during the financial crisis. The securities in question were issued between 2005 and 2008 by JP Morgan and Bear Stearns, a … Continue reading
A survey has suggested that countries worst hit by the global financial crisis saw their happiness levels fall as a result. The Organization for Economic Co-operation and Development (OECD) said the findings showed the far-reaching impact of the crisis.
The Australian government has said it plans to raise the country’s debt limit by two-thirds to allay concerns it could face a future fiscal crisis. The newly-elected conservative government is looking to raise the borrowing limit to A$500bn ($486bn).
Representatives from the International Monetary Fund, the European Commission and the European Central Bank have begun their latest audit of Portugal’s economic health. A raft of reforms was promised by Portugal‘s leaders in return for its May 2011 bailout.
Pedro Passos Coelho, Prime Minister of Portugal, has presented the president with what he calls an agreed deal to keep his coalition intact. Passos Coelho said his center-right governing partner pledged to keep supporting his government after two resignations plunged … Continue reading
Portugal‘s borrowing costs have risen sharply amid fears of a growing political crisis in the country. Yields on the country’s benchmark 10-year bonds moved above 8% at one point, while the stock market closed down 5.3%.
A key figure in Portugal‘s center-right coalition, Paulo Portas, Foreign Minister of Portugal, has quit just a day after the finance minister. Portas, head of the coalition’s junior party, had been given the task of overseeing cuts after Vitor Gaspar, … Continue reading
Spain‘s government has revised down its forecast for the Spanish economy this year, it argued the level of contraction is likely to be worse than previously predicted. Government of Spain now expects the economy to contract by 1.3% in 2013, … Continue reading
According to official figures, Spain‘s unemployment rate soared to a new record of 27.2% of the workforce in the first quarter of 2013. The total number of unemployed people in Spain has now passed the six million figure, although the … Continue reading