Archive for the ‘World Economy’ category
Restructure of Greek debt would be counterproductive in long term: experts
ATHENS, Nov. 23 (Xinhua) — Restructuring of the Greek debt would be counterproductive in the long term, but a debt repayment extension is a possibility, experts said Tuesday. Poul Thomsen, chief International Monetary Fund (IMF) representative in Greece, said that the extension of the repayment period of European Union (EU) and IMF loans to Athens [...]
Irish PM rejects opposition’s calls for early budget plan
DUBLIN, Nov. 23 (Xinhua) — Irish Prime Minister Brian Cowen on Tuesday rejected opposition party’s calls for an early announcement of budget plan on Dec. 7. Ireland’s opposition party Fine Gael leader Enda Kenny urged Cowen to bring the budget forward to next week. Cowen was also accused of “clinging to power at all costs” [...]
German economy expands 0.7% in Q3
FRANKFURT, Nov. 23 (Xinhua) — Private and public consumption, gross investments and exports drove the continued upturn of the German economy, a detailed breakdown of the data released by the Federal Statistics Office (Destatis) showed Tuesday, adding to evidence that the economy entered the next stage of a typical recovery with increasingly self-sustainable growth. The [...]
France says Ireland bailout around 85 billion euros
PARIS, Nov. 24 (Xinhua) — The EU-IMF bailout fund for cash-strapped Ireland has been estimated to be “around 85 billion euros (113.5 billion U.S. dollars),” Budget Minister Francois Baroin said Wednesday. The Ireland situation “is not yet stabilized” Baroin said during a press conference that followed a regular cabinet meeting. The debt problem troubling Ireland [...]
British economy increases by 0.8 percent in third quarter
LONDON, Nov. 24 (Xinhua) — British economy increased by 0.8 percent in the third quarter of 2010 compared with the April-June quarter, unrevised from the previous estimate announced a month ago, the British Office for National Statistics (ONS) said on Wednesday. The report also showed that the gross domestic product(GDP) in the country increased by [...]
Italy’s true problem absence of growth, economist says
MILAN, Nov. 23 (Xinhua) — Strong market competition should be introduced and human heritage should be preserved to fuel Italy’s growth, as the real problem of Italy’s economy is stagnancy, a renowned economist told Xinhua in a recent interview. “In the years before the outspread of the global financial crisis, Italy’s growth has been one [...]
Ireland faces continued financial, political turmoil
LONDON, Nov. 24 (Xinhua) — The Irish government was poised on Wednesday to announce details of a 15-billion-euro (about 20 billion U.S. dollars) plan to stabilize the country from financial turmoil that has thrown the European nation into crisis. The four-year budget plan that Irish Prime Minister Brian Cowen’s coalition government will attempt to pass [...]
French consumer confidence picks up in November
PARIS, Nov. 25 (Xinhua) — French consumers were more confident of the country’s economic performance in November than a month earlier as the consumer confidence index improved by 2 points, French national statistics bureau Insee said on Thursday. The consumers’ sentiment about future economy improved to minus 32 in November from minus 34 in October [...]
Irish government unveils four-year economic plan
Irish Prime Minister Brian Cowen (C) addresses a press conference in Dublin, Ireland, on November 24, 2010. The Irish government presented Wednesday a four-year austerity plan outlining 15 billion euros in savings, a key step towards securing an international bailout. (Xinhua/Xiong Sihao) DUBLIN, Nov. 24 (Xinhua) — The Irish government on Wednesday published a [...]
Canada disapproves BHP takeover offer of world largest potash producer
Canadian Minister of Industry Tony Clement delivers a statement in the foyer of the House of Commons on Parliament Hill in Ottawa, Ontario, Canada, on Nov. 3, 2010. Tony Clement said here on Wednesday that his government has disapproved BHP Billiton’s proposed hostile acquisition offer of Potash Corporation of Saskatchewan, the world’s largest potash producer. [...]