EUROPE 1, LE FIGARO (France) Worldcrunch PARIS – Unemployment has reached a new record high in the eurozone, with European Central Bank (ECB) President Mario Draghi saying Friday that the single currency would not recover until the second half of 2013. “We have not yet emerged from the crisis,” Draghi told France’s Europe 1 radio […]
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Greece Begins “Mother Of All Strikes”
BBC, GUARDIAN (UK), DIE WELT, FRANKFURTER ALLGEMEINER ZEITUNG (Germany), LES ECHOS (France) Worldcrunch ATHENS – Greek unions are staging “the mother of all strikes” as Parliament votes on another round of budget cuts, writes the Guardian. The bankrupt Greek government is facing a tough job: convince the Greek people that austerity measures are necessary. “This […]
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 […]
-Analysis- MUNICH – Last month, for a moment, crisis-plagued European nations seemed to have reason to rejoice: Germany’s Constitutional Court had cleared the way for the European Stability Mechanism, the European Central Bank (ECB) announced its plan for potentially unlimited purchases of government bonds in crisis countries, and the EU Commission laid out a new […]
EUROSTAT (Luxembourg) Worldcrunch LUXEMBOURG – Unemployment in the euro zone remains at record high levels, with 18.2 million people out of work in the most recent count released Monday by EU statistics agency Eurostat. Compared with August 2011, unemployment rose by 2.1 million in the euro zone. The number of people out of work remained […]
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 […]
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, […]
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 […]
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 […]