Posts Tagged ‘Debt News’
Greece at standstill again in third general strike
Crisis-hit Greece has come to a standstill again today after workers staged the third general strike in as many weeks.
The further strike comes after austerity measures to rescue Greece’s debt-stricken economy angered Greek trade unions.
Greece is currently taking action to reduce its public deficit from 12% to 8% of GDP this year.
The country currently [...]
FSA delays PPI reforms
The Financial Services Authority (FSA), has announced a delay on its plans to reform the Payment Protection Insurance (PPI) market.
The City Watchdog said its consultation will be delayed by six weeks due to a heavy amount of criticism from the financial industry.
Under a PPI policy, an agreed sum of money is paid out each month [...]
European version of the IMF being considered
As a result of the Greek debt crisis, the euro zone may get its own version of the International Monetary Fund (IMF), the EU said today.
The proposed institution, which could be known as the European Monetary Fund (EMF), is being considered to prevent a repeat crisis but would not be set up to organise a [...]
CBI calls for ‘credible’ economic plan
The Confederation of British Industry (CBI) is calling on the Government to provide a ‘credible’ economic plan for balancing public finances by 2016 – two years earlier than planned.
The business group believes that Chancellor, Alistair Darling, should use his last Budget before the general election to give more details of spending plans for Whitehall [...]
US consumer borrowing rises for first time in a year
The Federal Reserve has announced borrowing by American consumers grew for the first time in a year in January.
According to the central bank, consumer credit rose 2.4% or $5 billion (£3.3 billion) compared with the previous month to a total of $2.45 trillion.
It was the first increase after a record 11 months of declines [...]