Thursday, 22 August , 2019

debt

Greece: Getting Out of the Recession

The Greek government has agreed to a new round of fiscal austerity measures consisting of a sharp increase in taxes on income and property and further reductions in pension and other welfare-related expenditures. Based on our model of the Greek economy, policies aimed at reducing the government deficit will cause a recession, unless other components of

Is a new European financial crash just around the corner?

The tribulations of major European banks, starting with “venerable institutions” like the Monte dei Paschi di Siena (the world’s oldest bank) and Deutsche Bank (Germany’s largest), have raised the spectre of a repeat of the crash of 2008 — a “Lehman Brothers times five” in the words of one market analyst.

Wall Street Vultures Descend On Debt-Ridden Puerto Rico

‘Any “bailout” that might occur … seems directed only at the Wall Street vultures who now control most of the debt,’ Déborah Berman-Santana tells MintPress News in a sprawling interview about the debt crisis in Puerto Rico.

Zweiter Weltkrieg: Wie Griechenland von Deutschland 269 Milliarden Euro einklagen könnte

Die zuletzt abgeflaute Debatte um griechische NS-Reparationsforderungen über 278,7 Milliarden Euro an Deutschland wird neu angefacht. Nach zweieinhalb Jahren Arbeit hat ein griechischer Parlamentsausschuss nun einen Bericht vorgelegt, der den Anspruch auf Milliardenzahlungen untermauert.

Smashing the Orwellian ‘globalisation’ cell

If good and thoroughly decent people shy away from the completely provable truth then we must all expect the Orwellian ‘globalisation’ cell door to...

How to remedy the Euro Zone’s Original Sin

Financing vs. Spending Unions: How to Remedy the Euro Zone’s Original Sin By Thomas Palley In economic policy, timing isn’t everything, it’s the only thing. The...

Spain: Debt Wars against the South

According to data released by the Bank of Spain, the Spanish public debt exceeded in the first quarter of 2016 100% of Gross Domestic Product (GDP), for the first time in more than a century. Between January and March, the government accumulated a debt of 1.095 billion euros.

Puerto Rico: The Crisis Exposes Deception

Ten years of recession have made Puerto Rico’s government insolvent and made its economy collapse. The problems of Puerto Rico started before the global crisis emerged in Wall Street and now it contributes to making the crisis public but also, much more serious. Now, it is finally revealing the fiscal and economic failure of the colonial regime and it has caught the nation in a situation which appears impossible to solve.

Supreme Court Rejected Puerto Rico Law in Debt Restructuring Case

Last Monday The Supreme Court ruled against Puerto Rico regarding its Debt, and determined that the island cannot turn to Act 71 – which enables some Commonwealth Public Corporation in financial distress to restructure their debt obligations – striking down Puerto Rico law.

IMF issues warning over growing Chinese debt problems

The International Monetary Fund (IMF) has issued its clearest warning yet about the global implications of rising corporate debt in China. It came in the form of an address delivered by David Lipton, its first managing director, at a conference in Shenzhen at the weekend.