Bernanke prefers moderate pace The Federal Reserve has decided to keep key interest rate in the range of 0-0.25% per annum, it said in a statement issued on the basis of which ended yesterday’s session of FOMC. Similarly the Committee acted in April 2012. Most analysts predicted a similar decision by the Fed. As noted by the Fed, the information obtained in the period since April, shows that the economy this year has expanded at a moderate pace. However, in recent months, employment growth has slowed and the unemployment rate remains...
Today, June 28, in Brussels opens the EU summit, which many analysts consider as crucial for resolving the debt crisis in the euro zone. It is expected that at the summit in Brussels, the main debate will unfold around the actions of the banking and fiscal integration, particularly the issue of public debt obligations of the euro zone - the so-called Eurobonds. Germany, Europe's largest economy is still strongly voiced against the issue of Eurobonds. June 26, during a meeting with deputies of the Bundestag from the Free Democratic...
The new coalition government of Greece has proposed the European Union and the International Monetary Fund to consider the transfer deadline of reducing the budget deficit at least for two years, until 2016. The Government explained this desire to avoid further cuts in wages and pensions. It is noteworthy that before the new Greek cabinet claimed that he was ready to take strict EU requirements. However, it should be noted that the new Greek government was elected in part because of promises to review some of these crisis conditions. Now...
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The Chinese government announced a new initiative in order to attract more private investment in key areas such as energy and healthcare. The Chinese economy has been losing steam for over three years now and GDP growth broke down below 8% with further deterioration ahead. GDP growth below 7% would translate into catastrophic event s for China. The threat of an increase in the jobless rate as well as social unrest would be two developments which would harm the Chinese economy even more than a military conflict. The most populous country in...
