The Governor of the National Bank of Poland wants to make sure reserves will be covered in case the zloty strongly fluctuates.
The conflict between President Lech Kaczyński and the Polish Prime Minister Donald Tusk about central bank activity had deep after Piotr Kownacki, head of the presidential cabinet, said the intention of the Warsaw government [...]
Vice President Joe Biden said recently that the Obama administration had underestimated how badly the U.S. economy was doing when it first took office.
Now, members of government are not optimistic. “I am skeptical regarding the impact of the program to stimulate the economy. I doubt that will produce something good, and if it will have [...]
Unemployment could continue to grow in the United States until 2010, according to a study of analysts conducted by Reuters. This will likely make the Federal Reserve keep interest rates unchanged through nest year.
Results of this investigation were made public after the Labor Department announced that the job cuts rose in June, more than was [...]
Citigroup has launched an exchange of shares worth 58 billion dollars, after which the U.S. government would get a participation of 34% in the third largest bank in the United States.
In the program, Citigroup will offer common shares in exchange for preferential securities of 33 billion dollars. Other preferential shares for 25 billion dollars, held [...]
The strong development in China will help lift the world economy from recession, said the president of the World Bank, Robert Zoellick, quoted by Mediafax.
“Evolution of the Chinese economy this year will surprise you. Growth is not just an element of stability, but a force that will bring the system of global recession, “said Zoellick [...]
Company bankruptcies in Hungary have reached epidemic proportions. Even though faced with a large number of bankruptcies and a severe decline in the local car market, investors continue to buy Hungary’s state bonds.
Difficult situation in which is Hungary’s economy, affected by a severe recession, made that the number of companies from the position of [...]
The noted economist James Galbraith said that the European Union is hampered by an inability to manage the crisis that hit the states of Eastern Europe.
“Hungary had to accept a loan from the International Monetary Fund, while it should have been helped by Europe. It’s a big problem for the European institutions”, the analyst noted.
At [...]
Poland’s economy grew in the first quarter by 0.4% compared to the last three months of last year, being one of the few in the European Union with positive developments in this period, reports Mediafax.
Gross Domestic Product (GDP) of the first three months of this year increased with 0.4% compared with the previous quarter, in [...]
The global economic crisis could lead to growth this year in the number of unemployed worldwide to a record of nearly 240 million people, equivalent to an unemployment rate of 7.4%, estimated the International Labor Office.
“The labor market has worsened from the beginning of crisis. Our current projections show that (the unemployed – number) will [...]
The global economic recovery will be slow, increasing unemployment worldwide which raise the threat of social crisis and protectionism, said World Bank president, Robert Zoellick, in an interview for Spanish newspaper El Pais.
“What began as a major financial crisis and become a major economic crisis now turns into a crisis of unemployment, and if we [...]
The president of the Bulgarian Industrial Association (BIA), Bojidar Danev, said that Bulgaria will not manage to overcome the negative effects of global financial crisis until 2012, according to Sofia News Agency.
Danev added that national budget revenues are down and the system bank of the country has deteriorated. BIA President has said that falling liquidity [...]
