Greece to Miss Deficit Targets

By -
Greek Prime Minister George Papandreou
2 October 2011
ATHENS, GREECE – Forecasts predict Greece will miss deficit targets for 2011. Inspectors from the International Monetary Fund, EU and European Central Bank (troika) are examining the country’s books. The troika is deciding whether to approve another needed loan installment. Without the money, Greece could run out of cash within a month. The shortfall means that tax hikes and wage cuts have not been enough to ease the country’s financial problems. The inspectors are likely to approve the next loan installment. The troika’s forecasts for 2012-2014 could mean deeper losses for banks holding Greek debt. Those banks have already written off 21 percent of the value of debt they hold.
Source:
Greece to miss deficit targets despite austerity
http://www.reuters.com/article/2011/10/03/us-greece-idUSTRE7900SU20111003
Reliability: 9

Comments

Post a Comment

Popular posts from this blog

Turkey Breaks With Assad

By -
Image
Turkey surprised international observers when it supported rebels in recent uprising in Syria. Turkey is harboring insurgents and political opponents of the Assad's regime as it readies unilateral sanctions against Syria . This signals in shift in supporting the various democratic Arab awakenings throughout the Middle East. Turkey’s chasm with Syria reaffirms its commitment to NATO , who had began to question Turkeys role in the alliance. In the face of the Arab Spring , Turkey is reassess its place in the new realities of the Middle East . Turkey had sought to ought new open new markets  and expand its influence in the region through a policy of non-confrontation with its neighbors. It disavowed democratic preconditions with economic partners like Syria and Iran in the past and this caused friction with NATO. Source :http://www.csmonitor.com/Commentary/Opinion/2011/1103/Turkey-s-bold-about-face-on-Syria Reliability (9) Comments: Turkey’s break from its policy of “zero prob
Read more

Human Rights Court Favors Venezuela Opposition Leader

By -
Image
5 October 2011 Leopoldo Lopez talks to media outlets. Dow Jones Newswires (CARACAS) – The Inter-American Court of Human Rights ( IACHR ) ruled in favor of opposition politician Leopoldo Lopez on 17 September, allowing him to run in Venezuela ’s upcoming 2012 presidential elections. Venezuelan officials barred Lopez from seeking public office in 2005 through 2014 under allegations of mishandling public funds and corruption. Supporters of Lopez argue the charges are a ploy to prevent him and other opposition politicians from running for office. General elections are slated for 7 October 2012 amid questions regarding President Hugo Chavez’s health. Source: http://online.wsj.com/article/BT-CO-20110916-712977.html (Reliability: 9) Comment: Despite the IACHR’s ruling in favor of Lopez, Venezuelan officials under President Chavez have ignored the court’s rulings in the past and banned presidential hopefuls from running for office. Lopez is emerging as one of the top con
Read more

Israel’s National Security at Risk

By -
Image
05 October 2011 Israel Prime Minister Binyamin Netanyahu and US President Barack Obama Israel has severed relations with many nations.   Prime Minister Binyamin Netanyahu has succeeded in delaying peace negotiations.   Israel has withdrawn from Gaza and Lebanon to receive rockets in return.   Peace between Israel and Egypt is unstable and relations with Turkey have weakened.   Relations with the US and the Obama administration are strained.   Israel is the only one to blame for these deteriorating circumstances.   There has been an increase in anti-Israel sentiment throughout much of the Arab and Muslim world.   The Palestinians have a clear goal of using the United Nations to embrace the Arab Peace initiative .   Israel and Netanyahu have no plans or solutions to solve the many problems surrounding them.   The position they are in is dangerous and could increase violence and put the citizen’s safety at risk.   Reliability: 9 Source: Supporting Netanyahu’s policies i
Read more