UK Chancellor of the Exchequer George Osborne told parliament today that the new government will be seeking broad public input on an 'emergency budget' designed to slash the deficit and modeled on a crash program used by Canada in the 1990s.
06/08/2010 06:13 pm
Europe looks to be serious about the structural change needed to solve its deficit and debt challenge. Will the US follow suit?
06/08/2010 04:36 pm
The World Cup schedule has been announced by event organizers in South Africa. There will be over 60 matches, beginning Friday, to determine the world's best soccer nation.
06/08/2010 01:13 pm
The Cup's tab comes to about $122 per South African -- a substantial sum relative to public revenues of about $75 billion
06/08/2010 10:24 am
German Chancellor Angela Merkel Merkel pushed to get the German parliament to approve last month's nearly $1 trillion bailout for Greece. Some economists argue that it would have been cheaper to let Greece default and then bailout European bank bondholders.
06/07/2010 11:29 am
The Dow Jones Industrial Average closed Friday at 9931, below the symbolically important 10000 mark. It has slid in five of the past six weeks. Debt in Europe and tepid US job market are triggers.
06/04/2010 06:04 pm
Gaza flotilla deaths notwithstanding, government leaders in Turkey are inflaming regional tensions and undermining their own goals with their response to the Israeli raid on the Gaza-bound ships.
06/04/2010 05:18 pm
The last time hedge funds struggled this badly in a single month was November 2008, after the Lehman bankruptcy.
06/03/2010 10:45 am
Leaders of developed economies now come from a professional ruling class whose survival depends on delivering the fantasy that we can live beyond our means.
06/02/2010 03:06 pm
Because the euro will probably depreciate as a result of fiscal austerity, the effect on inflation in countries tightening fiscal policy will be uncertain.
06/02/2010 01:02 pm