VIDEO The Big Grexit: Euro Zone in Turmoil
Posted by vlad on May 18, 2012 | Leave a Comment
Everyone is counting on this output: Greece will leave the Euro Zone. And the fact that 16 Spanish banks were downgraded by the rating agencies, can announce only turmoil.
Before the G8 summit there are calculations about the possibility of Greece to abandon the Euro currency. At the end of the first quarter in which it was registered the weakest growth in EU history, the economic analysts anticipate what will happen...
“Step aside!” Hannelore Kraft, the new “Mr.” Merkel?
Posted by vlad on May 14, 2012 | Leave a Comment
A new political leader appears on the horizon in Germany. Hannelore Kraft is the social-democratic version of Angela Merkel. Governor Hannelore Kraft, top candidate of the Social Democratic Party SPD for the North Rhine-Westphalia Federal Elections states, gives the thumbs up on the last day of the election campaign rally in Muelheim, Germany.
This is a first sign of the German people that got tired of austerity. Taking...
Greece: between illegal immigration and Golden Dawn
Posted by vlad on May 12, 2012 | Leave a Comment
The arab immigrants see Europe as a land of choice. Europe, unlike the Arab countries, seems a place of hope and opportunity, a place where young arabs, especially, can escape from the life style and the strict values imposed by their system and their laws. And the gateway for those immigrants, especially those coming illegally, it’s called Greece.
Golden Dawn. That’s the name of the extremist greek...
VIDEO $2bn losses for JP Morgan after London Whale episode
Posted by vlad on May 11, 2012 | Leave a Comment
The London Whale has wrecked! No, it has nothing to do with reminiscent romance of the movie Free Willy. In this case, a rescue operation would be a new maneuver to support suicides on Wall Street. Now, it’s a big loss: $2bn.
J.P. Morgan Chase has bet a lot of money in transactions with a high degree of risk. A trader at the company, called Bruno Michel Iksil, bet in April in many so-called credit-default swaps,...
VIDEO French patatoes and a grim scenario for the eurozone after S&P hurricane
Posted by vlad on Jan 14, 2012 | Leave a Comment
Standard and Poors has wreaked havoc in the eurozone, especially downgrading France and Austria from their AAA and Slovakia, Spain, Italy, Cyprus, Malta, Slovenia and Portugal. The consequences of this decision will bring huge detrimental to the countries concerned and thus the euro area, then to the entire European Union.
It all started amid the sterile discussions on Greece’s debt. The Greek government has not...
Ups… Standard and Poors downgrades France and Austria!
Posted by vlad on Jan 14, 2012 | Leave a Comment
UPDATE S & P downgraded France and Austria (from AAA to AA +), Slovakia (from A to A +), Spain (from A to AA-), and Italy was downgraded to BBB +.
22:00 Standard and Poors was going to announce which countries will have its rating downgraded. France and Austria, most likely, will lose their AAA rating. S & P officials declined to comment if it’s about 12 countries.
The French government said that this...
VIDEO Behind the Debt Lines: Italy could be downgraded, says Fitch
Posted by vlad on Jan 10, 2012 | Leave a Comment
Italy is in pole position to be downgraded by rating agency Fitch. Eurozone countries expect the end of January to see who will undergo changes in the countries rating.
Italy is the most vulnerable, because the governors have not yet implemented tough measures to prevent the spread of the crisis. Italy’s borrowing costs on financial markets have increased and the interest rates to jump over 7% reaching. Italy...
How Malev could get to scrap and Hungary have a new state airline
Posted by vlad on Jan 10, 2012 | Leave a Comment
Malev, the Hungarian airline state company, must find financial resources in four months to return the money received as state aid, aid found to be illegal by the European Commission. The Hungarian government will meet on January 16 to discuss proposals submitted by the Minister for National Development.
Besides the problems that Hungarians have with public transport in Budapest, the Hungarian government must solve the...
Budapest public transport, on the verge of banckruptcy!
Posted by vlad on Jan 10, 2012 | 1 Comment
Hungarians receive another bad news. The public transport in Budapest, Hungary’s capital, is on the brink of bankruptcy! Istvan Tarlos, the mayor of Budapest, is making huge efforts to keep the situation under control. BKV’s (Budapest Zrt Közlekedési) bankruptcy would cost Hungary 14 billion forints a day!
BKV Zrt, the company that has control over the public transport in Budapest, is indebted way over...
VIDEO Debt Hard: Greece says goodbye to the IMF rescue package
Posted by vlad on Jan 10, 2012 | 2 Comments
Angela Merkel and Nicolas Sarkozy have put pressure on Greece and Greek bondholders to reach quickly agreement on the haircut agreed in October 2011.
Since November, Greece began to negotiate with the private investors. Governors would like investors to give up more than 50% of the debt and Greek officials threatened earlier this year that if investors will not accept this and the IMF will not grant a new bailout,...
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