According to the government in Warsaw, the Polish budget deficit will double in the coming year, reaching 52 billion zloty (12.7 billion euros). For Cezary Kowanda writing in the online edition of news magazine Polityka this is a terrifying prospect: “If these 52 billion zloty are indeed what the government plans we can really start [...]
The finance ministers of the 20 major industrial and emerging countries meet today, Friday, in London to prepare for the world financial summit in Pittsburgh at the end of the month. Topics on the agenda include controversial bonus payments for bankers. In a letter to the Swedish EU Council presidency Germany, France and the UK [...]
Lithuania may adopt euro in 2012-2015, EU budget commissioner Dalia Grybauskaite, who, according to preliminary data, scored a victory in the first round of presidential elections on Sunday, believes. “The period between 2012 and 2015 seems very feasible,” she said during a news conference. President-elect also said to approve of an idea to establish a [...]
Marc Faber, publisher of the Gloom, Boom and Doom report, was interviewed By Bloomberg’s Deirdre Bolton and Betty Liu about GM Corp.’s offer to exchange $27 billion of bondholder claims to equity in an effort to help the biggest U.S. automaker avert bankruptcy. Marc Faber also said that The Federal Reserve will continue printing money [...]
The scale of the recession in the 16 nations that use the euro appears to have eased in April, a closely-watched survey found Thursday, stoking hopes that growth may start to pick up by the end of the year. The preliminary purchasing managers index _ an indicator of economic health _ for the euro zone’s [...]
The next stage of the crisis will result from a Chinese dream. Indeed, what on earth can China be dreaming of, caught – if we listen to Washington – in the “dollar trap” of its 1,400-billion worth of USD-denominated debt (1)? If we believe US leaders and their scores of media experts, China is only [...]
Vilnius — The European Bank for Reconstruction and Development (EBRD) will inject €500 million ($653 million) in the Baltic region’s banking and energy industries, bank president Thomas Mirow said Friday. Mirow told reporters in Vilnius that the bank would invest €250 million in the three Baltic nations this year and another €250 million in 2010. [...]
Lithuania will get back 4.7 million euros (LTL 16.228 mln) in unspent Community funds from the European Union’s (EU) 2008 budget. The end-of-year surplus – the difference between all EU budget revenue and spending – amounted to 1.79 billion euros (1.5 pct) of the total 115.771 billion euros budget in 2008 and will be returned [...]
Goldman Sachs is attempting to shut down a dissident blogger who is extremely critical of the investment bank, its board members and its practices. The bank has instructed Wall Street law firm Chadbourne & Parke to pursue blogger Mike Morgan, warning him in a recent cease-and-desist letter that he may face legal action if he [...]
