Melides, Portugal — A former physical education teacher, Manuel Araujo puts his energy to use now as mayor of this sleepy village in the Portuguese south, springing into action to aid a resident panicked by a snake in her house in the thick of night and marshalling town workers to help another local fend off a home invasion by stinging bees.
May 22, 2011
Euro Drops to Lowest Level in Seven Weeks Against Dollar Amid Greek Crisis
The euro dropped to a seven-week low versus the dollar as Greece moved closer to defaulting on its obligations, bolstering concern the region’s sovereign-debt crisis is worsening.
The yen reached its strongest level versus the euro since the Group of Seven nations intervened in March to curb its gains after a record earthquake. Greece’s debt rating was cut by Fitch Ratings. Spanish voters may defeat Prime Minister Jose Luis Rodriguez Zapatero’s Socialists, who have cut spending to fight the debt crisis, in regional elections Sunday, polls show.
The yen reached its strongest level versus the euro since the Group of Seven nations intervened in March to curb its gains after a record earthquake. Greece’s debt rating was cut by Fitch Ratings. Spanish voters may defeat Prime Minister Jose Luis Rodriguez Zapatero’s Socialists, who have cut spending to fight the debt crisis, in regional elections Sunday, polls show.
May 21, 2011
Five ways to solve the eurozone crisis
Myths and misinformation feed in to a general lack of ideas about how to save the eurozone
The crisis of the eurozone seems to be going from bad to worse. Not only have the key players not yet found convincing solutions for the fiscal problems in Greece, Ireland and Portugal but we are already witnessing the beginning of a political backlash that could undermine the achievements of decades of European integration. There is generally a lack of ideas about what needs to be done to turn things around so here are my suggestions:
The crisis of the eurozone seems to be going from bad to worse. Not only have the key players not yet found convincing solutions for the fiscal problems in Greece, Ireland and Portugal but we are already witnessing the beginning of a political backlash that could undermine the achievements of decades of European integration. There is generally a lack of ideas about what needs to be done to turn things around so here are my suggestions:
May 20, 2011
East Europe Faces Risks From Euro Crisis, Inflation, EBRD Says
Eastern Europe and central Asia are at risk from a deepening debt crisis in the euro area and a pickup in inflation stoked by a recovery in consumer demand, the European Bank for Reconstruction and Development said.
The EBRD raised its 2011 economic growth forecast for the 29 countries in which it invests to 4.6 percent from 4.2 percent predicted in January, the London-based bank said today in a report distributed at its annual meeting in Astana, Kazakhstan. It expects growth to slow to 4.4 percent next year.
The EBRD raised its 2011 economic growth forecast for the 29 countries in which it invests to 4.6 percent from 4.2 percent predicted in January, the London-based bank said today in a report distributed at its annual meeting in Astana, Kazakhstan. It expects growth to slow to 4.4 percent next year.
May 19, 2011
Merkel Says Euro Crisis Means IMF Post Must Stay in Europe
May 19 (Bloomberg) -- German Chancellor Angela Merkel said that a European is best placed to lead the International Monetary Fund given the demands of the euro-area debt crisis.
"Naturally the developing countries have a claim on the highest position of the IMF or World Bank but the current situation speaks for a European candidate given the considerable problems of the euro," Merkel told reporters in Berlin today.
"Naturally the developing countries have a claim on the highest position of the IMF or World Bank but the current situation speaks for a European candidate given the considerable problems of the euro," Merkel told reporters in Berlin today.
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