UK´s Foreign Secretary William Hague, for example, called for cooperation between Britain and Germany to carry out reforms within the European Union.
Does Europe remain focused on austerity and structural changes as its preferred strategy to deal with crisis? Most likely not.
International Monetary Fund head Christine Lagarde said the U.S. government’s debt reduction plans are too abrupt, which could cause the U.S. economy to contract by over one and a half per cent.
In recent months, economic confidence has worsened and unemployment has risen over 12 percent across the currency zone. But the real problem is youth unemployment.
How long will the Euro last? Up to 5 years; it is not my opinion but senior German government advisor´s.
The Egan-Jones rating agency, which usually predicts things more accurately than other official agencies, has downgraded Germany from A+ to A with a negative outlook.
The engine of Europe – Germany – will not save anybody if economy is weak. German imports and exports fell sharply in February for the third time in the last four months, which indicates some problems.
It was the week of central bank announcements – Japan (we will describe it below), Britain and ECB.
Russian businesses and banks are starting to consider some legal action against Cyprus or individual banks, but some lawyers predict that they may have a hard time winning their case.
First of all, Cyprus has a small economy and the rescue package is something about € 16 billion, approximately € 3 billion less than last year’s loss of Bankia – the Spanish bank.