EU Economy Could Start Recovery Next Year
The EU economy has reached its lowest point, and recovery could begin next year, according to the Finance Ministers of the Member States, who met in Brussels. The ministers agreed that it is necessary to return to fiscal discipline once the economy starts to grow again.
Finance ministers of the euro area were agreed with [...]
The Rest of 2009 Will be “Less Difficult”
The president of the European Central Bank (ECB), Jean-Claude Trichet, has estimated that the rest of 2009 will be “less difficult”; than the first quarter, from an economic point of view, and that boosting the economy will start during next year.
“The following quarters will be less difficult than the first, although, overall, this year will [...]
European Parliament Adopts Stricter Bank Rules
The European Parliament (EP) has adopted stricter rules on the activities of the banks, including the establishment of committees to oversee transnational banks to prevent a new crisis in financial system.
The new rules will come into force at the end of next year. “It is clearly a first step, a response to the financial crisis, [...]
Unemployment Reaches HIghest Levels in 25 Years
In April, unemployment in the United States reached the highest level in the last 25 years, and the labor market is expected to get even worse, according to analysts surveyed by Bloomberg.
Unemployment rate climbed in April to 8.9% from 8.5% in March, and employers have fired at least 600,000 workers for the fifth consecutive months, [...]
AIG Will Sell Its Japan Headquarters for $1 Billion
American International Group (AIG) plans to sell its central headquarters of operations in Japan, for about 1 billion dollars to a Japanese insurance company, according to a source close to the transaction.
The transaction would represent one of the biggest sales of assets runed by AIG, to repay government debts created after the state aid received [...]
Inflation in the EU Remains at 0.6%
The annual inflation rate in the European Union was maintained in April at 0.6% compared with the same month of 2008, according to official statistics agency of the European Union, Eurostat, writes The Wall Street Journal.
Inflation was lower to the estimated level, but economists expected that it will resume its decline in May.
“It is only [...]
What is the Ideal Interest Rate for the United States?
The ideal rate of interest for the American economy in the current conditions would be minus 5%, according to an internal study prepared for the last meeting of strategists of the Federal Reserve Bank, writes The Financial Times. The interest rate impacts home loans, credit cards, and more.
The analysis was based on an approach [...]
IMF: $875 billion Needed to Bring Back the Banks
The banks from the United States and Europe would need $875 billion (675 billion euro) by the end of the year to return at a level similar to that in the years before the financial crisis. Double that amount would be needed to match the performance obtained in the mid ’90s, according to the [...]
Read more →Recession Shows Signs of Moderating – Mortgage Market Improves
The U.S. economy is giving signs of slow but steady growth, announced the International Monetary Fund (IMF).
“There was an improvement in confidence in the business environment, signs of stabilization on mortgage market, but it is still early and should not expect a return on the increase too soon “said Charles Collyns, deputy director of the [...]
Student Loan Consolidation: How Can You Benefit From It?
Student loan consolidation is a truly useful tool for consolidating student loans and other forms of unsecured debt. If you have outstanding private, direct, Federal and/or medical student loans, then you can go for student loan consolidation.
This would also help you when you have unsecured debts with high interest rates, such as outstanding medical bills, [...]
The New Hungarian Prime Minister Increases VAT
A VAT increase, freezing salaries and reducing subsidies are among measures taken by the new government in Budapest.
Bajnai Gordon, 41 years old, the new Hungarian Prime Minister, will increase VAT from 20% to 25%, but will decrease taxes on wages and income. Bajnai said that the modifications of a tax are designed to boost job [...]
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