Tag Archives: crisis
Spanish economic forecast is revised down
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
Unemployment hits new record high in Spain
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
Jamaica on debt-swap plan
Jamaica has announced plans for its second debt swap in three years in the face of a serious economic crisis. The move is aimed at satisfying conditions demanded in a deal with the International Monetary Fund. Portia Simpson Miller, Prime … Continue reading
Greece’s finance minister believes the worst is over
Greek finance minister eyes 2014 recovery for economy, he believes that the worst is over for his country. Yannis Stournaras, Finance Minister of Greece, said there is definitely a glimmer of hope, there is light at the end of the … Continue reading
Italy on a new political crisis
Silvio Berlusconi, former Prime Minister of Italy, announced yesterday his party withdrew its support for Monti’s administration. That left Mario Monti, Prime Minister of Italy, little option but to announce that he would resign. Italy’s government of technocrats collapsed yesterday … Continue reading
Euro zone falls back into recession
The euro zone has fallen into recession as the region’s debt crisis continues to hurt domestic demand. Eurostat said the economy of the 17-nation area contracted by 0.1 percent in the third quarter after shrinking 0.2 percent in the second … Continue reading
France guaranteed Credit Immobilier assets
Government of France said yesterday it had agreed to rescue troubled mortgage provider Credit Immobilier de France. The move comes after a fruitless search for a buyer for the mortgage lender, which faces a liquidity crisis. Credit Immobilier de France … Continue reading
Government of the Netherlands falls after budget crisis
Mark Rutte, Prime Minister of the Netherlands, has tendered his government’s resignation, paving the way for early elections. His cabinet was plunged into crisis during budget negotiations when Freedom Party quit talks aimed at slicing 16,000 million Euros from it. … Continue reading
IMF doubles its lending capacity
The International Monetary Fund said it has received firm commitments of more than 430,000 million Dollars. The money is to help economies in trouble and includes 200,000 million Dollars from the euro zone countries. International Monetary Fund said it is … Continue reading
Euro zone call off Greece crisis talks
Jean-Claude Juncker, president of the euro zone, has downgraded tomorrow’s finance ministers meeting. He argued Greece has not yet given the necessary assurances about its austerity plan to reach second bailout goals. Jean-Claude Junker said technical work with Greece is … Continue reading
