While the world economy shows signs of gaining strength and the possible end of recession brought on by the subprime credit crisis, there are enough experts that anticipate a new collapse, writes AFP.
The hypothesis that a recession will return after an initial recovery was made by U.S. economist Nouriel Roubini, professor at the University of [...]
The Germany Ministry of Finance considers there is a risk that the current economic recovery will not be sustainable, writes Reuters.
“Despite a categorically improved economic outlook, it is not clear, for now, if the period of stability will continue. This could have this year, negative effects on the labor market “, says a report from [...]
The U.S. economy is no longer in an “urgent” situation and seems to have entered in a slow process of revival, but the government must address the secondary effects of the huge stimulus programs, particularly the strong increase of public debt, according to billionaire Warren Buffett.
“The country will have to face the side effects of [...]
In June, Germany’s exports registered an increase of 7% compared with May. This marks the largest monthly advance in the last three years, according to data published Friday by the German federal office of statistics, reported AFP.
Recovery of exports is a good sign for the largest economy in the EU, a country that remains the [...]
Saved from bankruptcy by massive aid from the government, U.S. banks are again in a position to provide big financial bonuses to bankers, although they have been accused in many areas of causing the current crisis to start in the first place.
Critics charge that, in order to gain as large a bonus as possible, bankers [...]
While the world’s attention is focused on the fortune of the largest economies, countries in the Baltic have been hit hard by the current downturn. The economy of Lithuania decreased by whopping 22.4%, marking the most pronounced decline since 1990. Governments of the three Baltic states have taken the toughest measures in the EU [...]
The unemployment rate in June passed the threshold of 10 percent in 16 U.S. states, while in Michigan the unemployment rate went over 15 percent. This is the first time a state has registered that high an unemployment rate since 1984, according to the U.S. Department of Labor.
In comparison, in May, the unemployment rate [...]
American banks knew ahead of time that real estate loans with high risk – known as sub-prime loans – would degenerate into a crisis says Yuliya Demyanyk, an economist at the Federal Reserve.
What was surprising for banks was the trigger time and the scale of crisis, says Demyanyk. “Most likely, the crisis was not [...]
Former U.S. Treasury Secretary, Henry Paulson, said that “although our responses to the crisis have not been perfect, I believe strongly that they have saved the nation from a wide danger.”
“A lot more Americans would be now without jobs, business, economy and a way to live,” Paulson insisted, who has been accused in numerous occasions [...]
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 [...]
