Tag: Financial Crisis
American budget crisis risks global disaster
A fundamental law of economics: the USA always pays its debts. But political deadlock now threatens to make a lie of that age-old principle, damaging the world economy in the process.
Italy latest target of ‘spooked’ Euro investors
Italy traditionally survives periods of chaos and mismanagement. But the latest twist in the Eurozone debt saga sees this major nation vulnerable to investor flight.
Europe on the road to disaster, experts warn
Europe has just approved another €12 billion loan to rescue debt-stricken Greece. Analysts think the country will default, and could push the world economy into a catastrophic depression.
Historic beauty but very modern poverty
The ancient town of Okehampton has been hit by unemployment. Charities are diverting food from Romania. But not all the residents are pleased.
Eurozone crisis: Irish demand better rescue deal
Irish voters have rejected a deal to prop up failed banks and slash spending. The £73bn tussle could spook international financial markets.
Banks get a sharp slap on the wrist
The UK government has announced a new, higher, levy on banks. The Chancellor says this is a 'fair contribution.' Is he right?