Today saw an escalation of the Euro crisis with Spanish banks reporting that over a billion Euro’s has been withdrawn by panicked Spaniards. Mariano Rajoy the Spanish prime minister called for fellow European leaders to publicly back his country and boost its defenses from the threat of Greek contagion. Fears are growing that the Greek [...]
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Spanish banks lose billions
Thursday, May 17th, 2012The pound drops to a four month low against the Dollar
Wednesday, May 16th, 2012The pound has dropped to a new four month low against the dollar after investors feared a new round of quantitative easing is being planned. Despite the latest unemployment figures out of the UK showing that the number of people without a job fell by 45,000 during the first quarter of 2012 and the countries [...]
Read the rest of this entry »The pound drops from its four year high
Tuesday, May 15th, 2012The pound has weakened slightly against the Euro, dropping from its four year high of 1.2549. The stronger than expected GDP figures out of Germany and the Eurozone has caused the single currency to rally against a number of other currencies. The Eurozone avoided sliding back into recession thanks to the economic strength of German [...]
Read the rest of this entry »Why the Bank of England left the Interest Rate and Quantitative Easing target unchanged
Thursday, May 10th, 2012The Bank of England’s Monetary Policy Committee announced today that they will be maintaining their current ultra-low interest rate of 0.50% through May and the Quantitative Easing target will remain at £325 billion. The decision should help the Pound to hold onto its recent gains in the currency exchange markets. The Pound to Euro exchange [...]
Read the rest of this entry »The pound has dropped against the dollar
Wednesday, May 9th, 2012The Pound has weakened from its eight month high against the U.S Dollar. A series of factors led to the dip as a report detailing the British housing market showed a drop in property prices for April. The report shows that the house prices index dropped by 8 points to minus 19 from minus 11 [...]
Read the rest of this entry »Greek Elections 2012: Neo-Nazi’s Golden Dawn win 21 seats in parliament after threatening to kill a Greek journalist and lace the Turkish border with landmines
Tuesday, May 8th, 2012Extremist Right-wing party Golden Dawn won 6.9% of the vote in 2012 trumping their previous score of 0.23% Members frequently use the Nazi salute and their badge is an altered form of the Nazi swastika Leader Nikolaos Mihaloliakos aims to rid Greece of all illegal immigrants Threatened to kill a Greek journalist who spoke out [...]
Read the rest of this entry »The march of the White widows, the human cost of recession
Friday, May 4th, 2012The Italian wives of husbands who killed themselves because of the recession marched through the streets of bologna today in an aim to raise awareness of the human cost of the Euro crisis. The crises has impacted heavily on millions of people throughout the continent. No more so than the White widows, the wives of [...]
Read the rest of this entry »The Double dip is set to be short lived
Thursday, May 3rd, 2012With the shock news that the UK re-entered Recession on the 25th of April, many were predicting doom and gloom for the economy. Today the Business group CBI predicts that the pain will be short lived. The group believes that the Governments figures regarding growth are suspect after many private organizations were posting positive results [...]
Read the rest of this entry »Austerity and the record rise in unemployment
Wednesday, May 2nd, 2012The release of Europe’s unemployment figures and the news that manufacturing is on the decline in all but two of the Eurozone member nations is a clear sign that austerity is not working. Unemployment throughout the Eurozone rose to its highest levels since the single currency’s creation, rising to a staggering 10.9% in March. Youth [...]
Read the rest of this entry »As protest marches sweep across Europe, the United States posts strong PMI figures
Tuesday, May 1st, 2012Mayday protests are in full swing across Europe and much of Asia, with the main theme being a rallying cry against the harsh austerity measures being imposed by governments. Protests in Greece and Spain gave their embittered populations a chance to express their anger and frustration against the worsening situation. Most of the major cities [...]
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