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Eurozone Debt Crisis Worries Mount amid Fresh Fears of Greece Default

Eurozone Debt Crisis Worries Mount amid Fresh Fears of Greece Default

When the European Union and the International Monetary Fund agreed in July to provide a second bailout for Greece, this debt-ridden Euro nation, as well as the rest of the Eurozone, saw some hope of salvation and the possibility of being able to avoid a default. However, debt crisis fears rose again last Friday based on [...]

mitch mcconnell_alternate budget amendment plan

U.S Debt Ceiling Debate, Euro Woes Push Investors towards Gold

With the precious yellow metal touching a record $1600 an ounce earlier today, while some investors with large gold holdings are rejoicing, it could also be an indication of a market-wide sentiment regarding the faltering world economy. Rallying gold prices have often been associated with overwhelming problems in the financial markets. Given the continuing impasse [...]

Eurozone Woes Worsen: Moody’s Cuts Debt Rating for Portugal to Junk

Eurozone Woes Worsen: Moody’s Cuts Debt Rating for Portugal to Junk

Despite Portugal having negotiated a 78 billion euro bail-out package in May, the credit rating agency, Moody’s Investors Service, cut the Euro country’s debt rating to junk status on Tuesday, based on risks that the country, like Greece, would need a second bail-out before it could start raising money in the capital markets. Downgrading long-term [...]

EU fails to arrive at decision on bail-out to avert Greek Bankruptcy

EU fails to arrive at decision on bail-out to avert Greek Bankruptcy

“Convince Us First” Say European Governments Finance Ministers Seven arduous hours of talks in Luxembourg resulted in a worrisome situation, with finance ministers of European governments postponing a decision on releasing a further bail-out to debt-laden Greece. With strong demands that require the Greek Parliament to enforce spending cuts and budgetary reforms if EU is [...]

George Papaconstantinou vs George Papandreou_Cabinet reshuffle proposed by Greek PM

Greece PM Papandreou to Reshuffle Cabinet, enforce Austerity Plan

George Papandreou, Prime Minister of Greece, is all set to announce a new cabinet in his latest effort to further push for austerity measures; an absolute necessity if Greece wants to stand any chances of receiving aid from the European Union (EU) and the International Monetary Fund (IMF). Re-igniting fears that Greece will default on [...]

Ben Bernanke’s speech on “frustratingly slow” recovery causes fall in markets

Markets fall with Bernanke’s speech on “frustratingly slow” recovery

Markets dropped accompanied by a weaker dollar with U.S. Federal Reserve Chairman Ben Bernanke expressing concerns about global economic recovery. While forecasting a pick-up in the recovery of the U.S economy, Bernanke admitted that the current recovery pace was “frustratingly slow” and “uneven”. Bernanke’s comments follow some very disappointing economic data released by the U.S [...]

Spanish Prime Minister Zapatero_ Socialist Party suffers massive losses in city and regional elections

Eurozone Pressures Extend beyond Greece, to Spain and Italy

With Standard & Poor’s cutting their outlook on Italy’s economy from “stable” to “negative”, along with the massive political loss suffered by Spain’s Socialist Party, have worsened existing debt concerns in Europe. Italy accounts for almost 20% of all government debt in the European Union, while Spain’s economy is the fourth-biggest in the Eurozone. Speculation [...]

Dominique Strauss Kahn_What will IMF chief’s arrest mean for Greece, Portugal & Ireland?

What will IMF chief Strauss-Kahn’s arrest mean for Eurozone aid?

The arrest on Saturday of IMF chief, Dominique Strauss-Kahn, has sparked off intense speculation as to how much this incident will affect the scale and generosity of the bail-out packages to be handed out to Greece, Portugal and Ireland in particular, and future rescue packages to the Eurozone in general. Instrumental in strategizing the financial [...]

European Markets fall on fears of Greece Ditching the Euro

Euro, European Markets fall on fears of Greece Ditching the Euro

The Euro and European Markets dropped to new lows amid fresh concerns over Greece’s persistent debt issues, related worries regarding an impending financial recession and speculation on whether Greece will default its payments and stop using the Euro. With Greece’s plan to sell Treasury bills today in place, the drop in stock values and currency [...]

The Royal Villa, Grand Resort Lagonissi, Athens_World's most expensive hotels 2011

Super Luxurious Sleepovers: World’s Most Expensive Hotels 2011

Business or pleasure, whatever your reason for staying over at one of these beyond-fancy hotels, the one thing you can be absolutely certain about is that the experience will leave a very significant impact on your mind (not to mention your pocket!). So which hotels currently figure on the list of the world’s most expensive [...]

Leviathan+oil+field, Natural+Gas, Noble+Energy, Israel, Lebanon, Palestine, Middle+East

Leviathan – Israel’s disguised blessing!

Since 20 years, Yigal Landau, the co-director of Ratio Oil Exploration has been drilling oil and gas in Israel mostly unsuccessfully. He oversaw more than a dozen explorations in the Mediterranean sea. The Middle east is known to contain world’s richest oil and gas reserves; however, Israel has consistently been suffering from a dry spell. [...]