The Occupy Movement began on Wall Street by the so-called 99% shut out from economic growth. But Latin America’s income gap mirrors the U.S. In Chile, it is particularly extreme.
Tag: crisis
NICOSIA – The moment you arrive in Cyprus you sense something about the little eastern Mediterranean island that sets it apart from its European neighbors. There are an unusual number of men in suits carrying briefcases. And the bright billboards on the streets leading from the airport have Cyrillic writing on them. Some of the […]
CLARIN (Argentina), EL PAIS, EL DIARIO DE LEON (Spain) Worldcrunch MADRID – Unemployment, rising taxes and falling wages have combined to change the calculus for more and more people in Spain. Increasingly, according to new studies, Spanish households are dealing with the economic crisis by reducing the quality and quantity of foods they eat. According […]
Meet Captain Fu, who runs the Piraeus Container Terminal, which has been owned since 2009 by Chinese giant Cosco. So far, at least, business has barely been touched by the Greek crisis.
THESSALONIKI – Great defender of bears and forests, a winemaker who left the family business to launch his own high-end wine – Iannis Boutaris was an eccentric businessman. Since 2010, he is the atypical mayor of Thessaloniki, Greece’s second largest city with a population of 800,000. In his seventies, Iannis Boutaris wears colorful suspenders; tattoos, […]
FRANCE 24 (France), CNN (USA) Worldcrunch FRANKFURT – European Union finance ministers have agreed on a deal giving the European Central Bank (ECB) new powers to supervise eurozone banks. This agreement came early Thursday after the ministers held talks for more than 14 hours in Frankfurt following months of tense Franco-German divisions. All finance ministers […]
REUTERS, BBC NEWS (UK), WALL STREET JOURNAL (USA) Worldcrunch BAMAKO – Mali“s Prime Minister Cheick Modibo Diarra announced his resignation on Tuesday, hours after being arrested by soldiers while trying to leave for France, reports Reuters. Diarra addressed the nation on national television saying: “Our country is living through a period of crisis. Men and […]
Doctors are left “playing God,” having to choose which patient will get the costly treatment.
MADRID – Anyone who has ever been to Madrid knows the Plaza de España. But today, you might not recognize it. The whole area, formerly prosperous and energetic, is a window on the crisis raging throughout Spain. Along the sides of the Plaza and in the side streets, there are entire rows of closed storefronts, […]
-Analysis- Barack Obama’s reelection to a second term in the White House is in spectacular contradiction to the trend in Western politics since the beginning of the current economic crisis. One after another, Western leaders have been dumped by voters who have made them pay for the effects of the crisis and the austerity measures […]
NEW YORK – In the focus groups he organizes to understand American voters, Democratic Party pollster Stan Greenberg says lately participants have actually broken down emotionally when answering questions about their lives. “Three-quarters of the population are struggling. Families are overwhelmed, salaries have decreased by 20% and health benefits are falling,” Greenberg, co-author of the […]
PARIS – In the United States, “China bashing” is in full swing. Denigrating China has been a mainstay of the American presidential campaign, in a time of economic one-upmanship between Washington and Beijing. During the final televised debate, devoted to foreign policy, Republican candidate Mitt Romney once again accused Beijing of manipulating its currency and […]
DETROIT – An old woman stands in front of a one-armed bandit with a half-lit cigarette between her lips. She takes tokens out of a bucket of popcorn and slides them endlessly into the same slot. You can tell she has been doing this for years. Further in, at the blackjack table, two young men […]
ATHENS – Everyone knows that Greece’s debt is spiraling out of control, but few know that the country is an oil producer, though its production is minimal: 2,000 barrels a day – 0.5% of just its own needs. During the 1980’s, however, Greece produced 30,000 barrels a day – 12% of its consumption – through […]
HET LAATSTE NIEUWS (Belgium), THE SCOTSMAN (UK) Worldcrunch After Catalonia stepped up its bid to secession, separatist parties in Belgium and the United Kingdom have made major gains amid a crisis-hit Europe. British Prime Minister David Cameron is set to meet Scotland’s First Minister Alex Salmond in Edinburgh Monday to sign a historic deal that […]
PARIS – For months, consumption has been stagnating, and purchasing power is not improving. Will the French, like the Spanish, start buying their yogurts one by one instead of in packs as a way to face the global financial crisis? Remarks by Jan Zijderveld, head of European operations for the Anglo-Dutch conglomerate Unilever, on the […]
EL PAIS, LA VANGUARDIA, EL MUNDO (Spain) Worldcrunch MADRID – Protesters called for a new round of demonstrations Wednesday after a day of clashes with riot police on the streets of Madrid. The latest toll from the violence is 35 people arrested and 64 wounded, according to La Vanguardia. The 2 most tweeted Photos of […]
BRUSSELS – Greece needs at least two more years and an additional 30 billion euros in order to be able to meet the targets set for it by the euro zone countries, European sources tell Süddeutsche Zeitung. When – and indeed if – the country gets money from the second bailout package is unclear. In […]
PARIS – Is there a way that the countries of southern Europe can avoid sinking further into debt at unsustainable interest rates, without resorting to euro bonds, which Germany refuses to consider? Former IMF director Dominique Strauss-Kahn has an idea that he presented this past weekend at the YES (Yalta European Strategy) Forum which was […]
BERLIN – She was an icon of glamour and beauty. But Marilyn Monroe also knew how to appreciate the timeless value of compressed carbon. When she sang “Diamonds are a Girl’s Best Friend,” she was offering a not-so-subtle investor tip to bank on the precious stones. These days, with the euro crisis, investors are increasingly […]
BERLIN – Even the ever competent European Central Bank (ECB) President Mario Draghi stumbled when he was asked how he was dealing with the fact that the Germans had reservations about his latest moves. That’s because the journalist at last week’s press conference didn’t address him as “President Draghi,” but as “Herr Weidmann.” Of course, […]
LE FIGARO, LIBERATION, EUROPE 1, AFP, FRANCE 24 (France) Worldcrunch PARIS – French newspapers are tracking tax exiles after Bernard Arnault, France’s richest man and head of luxury good giant LVMH, said Sunday he was seeking Belgian nationality. The luxury tycoon’s move to seek Belgian citizenship has caused outrage in a country hit by a […]
In the face of the European debt and financial crisis, Hamburg-based economist Dirk Meyer has a “third way”: a system of parallel currencies. A professor at the Helmut Schmidt University of the armed forces, Meyer is convinced that in its present form the euro zone is simply not sustainable in the long term. He used […]
MADRID – Since September 1, undocumented immigrants in Spain are now excluded from public health care. Only pregnant women and minors can still enjoy free public coverage, which had long been available to all undocumented residents. Others can still get care in cases of emergency, but for basic medical treatment, immigrants in Spain illegally will […]
LES ECHOS (France), DIE WELT, DER SPIEGEL (Germany), IL SOLE 24 ORE (Italy) BLOOMBERG (US), BBC NEWS (UK) Worldcrunch FRANKFURT – Aiming to squelch speculation of an impending demise of the euro, European Central Bank President Mario Draghi said policymakers have agreed to an unlimited bond-purchase program to regain control of interest rates in the […]
BEIJING – Every time that German Chancellor Angela Merkel makes a trip to China, she always goes home with a large chunk of investment. Her just concluded visit was no exception. In addition to more than 10 cooperation agreements in areas such as aerospace and the automotive industries, Merkel has also obtained a commitment from […]
BILD (Germany), CHANNEL 4 NEWS(UK), ATHENS NEWS (Greece) Worldcrunch Greek Prime Minister Antonis Samaras is meeting with eurogroup leader Jean-Claude Juncker in Athens on Wednesday, after asking “more time for cuts” in an interview with German publication Bild. Mr. Samaras rejected the possibility of an exit from the euro zone and a return to the […]
Over 150 years ago the Gold Rush began in California. It made some people very rich, but most people who were a part of it were only enriched by the experience. Today, the state is making people dream again – but this time it’s silicon, not gold, that’s making them see big. The half-metal is […]