Saving the Euro Bumblebee 03 Aug 2012
As the effects of the Eurozone crisis begin to show in the rest of the world economy, European leaders have expressed their determination to stand by the Euro.
Action is expected from the European Central Bank, and its president Mario Draghi, who in a speech at the British Business Embassy Global Investment Conference, timed to coincide with the London 2012 Olympics, likened the Euro to a bumblebee, which had difficulty flying and needed to ‘graduate into a real bee’.
Mario Draghi, the president of the European Central Bank, speaking at the British Business Embassy Global Investment Conference, timed to coincide with the London 2012 Olympics.
Awareness is growing around the world that the economic troubles of the Eurozone crisis will affect not only Europe, but the world economy as a whole. The limited ability of established businesses to create new jobs and growth has led more people to turn to startups and individual entrepreneurship as a path to future prosperity.
Nouriel Roubini, the New York University professor known as ‘Dr Doom’ because he was one of the few economists to predict the credit crunch, has predicted a 'perfect storm' of factors that could derail the world economy in 2013.
Warnings of Global Slowdown 11 Jul 2012
Entering the second half of 2012, economic indicators appear to be negative on a world-wide scale.
Global Growth Forecast to be Downgraded
Christine Lagarde, the head of the International Monetary Fund, has warned that the IMF’s forecasts for global growth will be downgraded because of a more worrisome outlook.
The IMF warned that the US recovery is tepid and risks becoming a recession if political agreement is not reached on how to cut the deficit.
Chinese Premier Wen Jiabao has said there is downward pressure on the Chinese economy, requiring more aggressive action to keep growth on track.
Breakthrough in Banking Crisis 02 Jul 2012
As the beginning of a solution to the Eurozone Crisis appeared, and stimulus measures were announced in the UK, other banking troubles emerged, including a mis-selling scandal which will lead to business victims being compensated.
Italian Prime Minister Mario Monti was doubly satisfied by victories over Germany:
in negotiations to resolve the Eurozone crisis,
and on the football field in Euro 2012.
The negotiations to find a solution to the Eurozone crisis have arrived at a breakthrough. Chancellor Angela Merkel of Germany gave way to the combined pressure of the leaders of Italy and Spain to agree to immediate action to reduce the cost of their borrowing through bond buying and bank aid. This occurred at the same time as Italy beat Germany at football, for a place in the finals of the European Championship, which Mario Monti, the Italian Prime Minister, said was a double satisfaction for Italy.
A Cloudy Outlook for Growth 25 Jun 2012
As Britain endures yet another month of rain, and summer is postponed once again, prospects for growth appear to be equally elusive, and the economic outlook looks decidedly cloudy. Yet there are some bright glimmers of hope appearing, and some clouds even bring opportunity.
A Heavy Cloud over Growth
The Eurozone sovereign debt crisis continues to cast a heavy cloud over economic growth prospects, not only for Eurozone countries, but also the UK, the USA and the wider world.
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