China has recently indicated that the western world must make more of an effort to recognize it as a market economy in order to receive additional aid in solving the debt crisis. Proper Leverage… The warning comes as countries such as Spain, Greece, Italy and Portugal turn to Beijing as a potential debt buyer. China,…
Author Archives: Derrik Brunner
Europe’s Crisis Deepens as ‘Time Runs Out’
Finance ministers from all over Europe recently concluded a two-day meeting in Poland, but have failed to make considerable progress toward resolving the worsening debt crisis. Attending the meetings was Timothy Geithner, the US Treasury secretary, who rejected a European idea for a global tax on financial transactions. The proposal was then debated at length….
EU Copyright Protection Extended
The EU has just helped the economic situation of musicians by extending the current copyright protection laws from 50 to 70 years. During the vote, 17 voted in favor of the extension out of the 27 member states; Belgium, the Czech Republic, Luxembourg, the Netherlands, Romania, Slovakia, Slovenia and Sweden voted against; Austria and Estonia…
Iceland People Say No to EU
Icelanders want to remain just that – Icelanders. They are voicing increasingly more vocal opposition to joining the EU bloc, even though they’ve been working on their application since July of 2009. Polls have shown that more and more Icelanders oppose membership. As Member of the Icelandic Parliament, Vigdís Hauksdóttir, explains, every poll for the…
Switzerland Caps Franc Against the Euro
In an effort to protect its exporters dealing with Europe’s financial crisis, Switzerland has capped the franc’s exchange rate against the euro. Economies across the globe have been inconsistent, swinging wildly on a nearly daily basis, pushing investors towards gold and Swiss currency as a safe haven. As a result, the franc has become more…
Greece Spirals Further Into Recession
According the Greece’s finance minister, the country’s worsening recession is likely to result in minimal to no growth next year. The European Union and International Monetary Fund have suspended a review in order to allow Athens to put additional efforts towards boosting growth. The Eye of the Cyclone “It’s important we leave the eye of…
Poland Believes EU May “Collapse”, Criticizes Leading Countries
According to central bank Monetary Policy Council member Anna Zielinska-Glebocka, Poland may join the euro zone before 2020, despite predictions on the contrary. She added that in order for this to happen, the euro zone must first enforce fiscal discipline amongst its current members. “I think it will happen before that,” Zielinska-Glebocka said. “On the…
Hysteria Sweeps Germany as EFSF’s Security Lessens
According to Klaus Regling, “hysteria is sweeping Germany,” as the pressure of the EU’s debt crisis spreads throughout the country’s primary institutions. The most recent threat comes as German Chancellor Angela Merkel runs out of coalition votes in the Bundestag, putting the reliable backing for Europe’s restored rescue machinery at risk and increasing the constitutional…
Floundering Greece Confident in EU and IMF Funding
Despite the economic turmoil throughout the EU, Greece is convinced it will be the recipient of the next debt rescue funding from the EU and International Monetary Fund. According to Greece’s finance minister Evangelos Venizelos “Greece’s borrowing needs are covered.” He added that in the meantime, the country’s task “is to carry on with our…
EU Avoids Own Crisis and Offers Aid in the Middle East
In the midst of discussions, meetings and debates regarding a united finance government, the EU has decided to contribute to other economically challenged countries. Yesterday, the European Commission approved 100 million euro for Egypt in an effort to improve living conditions in Cairo, create employment opportunities and to make sustainable energy more accessible. Making a…
