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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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...
International rating agency Moody's on Wednesday lowered the forecast from positive to negative the long-term ratings on 17 banks in Germany and a number of their branches. Among the banks, whose forecasts have been lowered are KB Deutsche Industriebank and Deutsche Postbank. There were changed the ratings of the banks, whose financial support depends on the assistance of the state or federal lands. Earlier Wednesday, the agency downgraded by prior long-term rating of the European Financial Stability Fund to negative from stable,...
