In recent months some advocates of Europe’s austerity policies have been touting Latvia as a success story that shows how “internal devaluation” can work. This was the theme of a book published earlier this year by the Peterson Institute for International Economics, one of Washington’s most influential think tanks. The book was co-authored by the [...]
Tag: International Monetary Fund
December 16, 2011
December 16, 2011
December 6, 2011
Fed may give loans to IMF to bail out euro zone central banks: paper
December 5, 2011 by legitgov ShareThis Fed may give loans to IMF to bail out euro zone central banks: paper 04 Dec 2011 The Federal Reserve, along with the 17 euro zone national central banks, may help provide the International Monetary Fund with funds that could be used to aid debt-ridden states, a German newspaper [...]
November 30, 2011
The IMF must heed G20 decisions | Kevin Gallagher
The G20 meeting in Cannes earlier this month was derailed by the pressing eurozone crisis. Actors were disappointed if they were looking for concrete action on global imbalances and the food crisis, let alone the new global monetary system that French President Nicolas Sarkozy boasted would be the goal of the summit when he first [...]
November 15, 2011
Eurozone Economy Nearly Static in Third Quarter
The eurozone economy barely advanced in the July-to-September period, weighted down by the financial woes in debt-ridden Greece and Italy. The European Union said Tuesday that the economy in the 17-nation bloc that uses the euro currency expanded just two-tenths of one percent in the third quarter, largely supported by bigger growth in the continent’s [...]
November 13, 2011
Berlusconi Resigns, Ending Scandal-Plagued Era
Italian Prime Minister Silvio Berlusconi has resigned, ending a 17-year political era marked by allegations of corruption and sex scandals, and criticism over his failure to control the country’s massive debt. Mr. Berlusconi formally submitted his resignation to Italian President Giorgio Napolitano late Saturday after announcing that he was stepping down at a cabinet [...]
November 10, 2011
Europe Lowers Growth Forecast for 2012
Europe got more bad news on Thursday, as the European Union’s executive arm sharply downgraded growth forecasts for the region. This has major implications for a continent buffeted by the financial and political crises in Italy and Greece. The new figures predict economic growth across the European Union of only 0.6 percent next year – [...]
November 5, 2011
Obama Says Progress Made in Stabilizing World Economy
U.S. President Barack Obama says the world’s leaders have “made important progress” in stablizing the global economy and that he is confident European leaders will be able to resolve the continent’s debt crisis. Obama told reporters Friday at the end of the Group of 20 summit in Cannes, France, that “more hard work” remains to [...]
October 15, 2011
US to Play ‘Very Major Role’ In Helping Europe: Geithner
October 14, 2011 by legitgov ShareThis Heads up! US to Play ‘Very Major Role’ In Helping Europe: Geithner 14 Oct 2011 The U.S. plans on being an active partner as efforts intensify to get Europe get back on its feet financially, Treasury Secretary Timothy Geithner told CNBC Friday. With global leaders preparing for next month’s [...]
October 6, 2011
Australia: a friend to two giants | Malcolm Turnbull
The rise of China is a massive realignment of economic and, in due course, political and strategic power at a speed and on a scale the world has not seen before. According to the International Monetary Fund’s forecasts it will overtake the United States as the world’s largest economy in 2016. Others argue it has [...]
September 28, 2011
The eurozone: a crisis of policy, not debt | Mark Weisbrot
Three months ago, I wrote here about the risks that the European authorities were posing to the US economy and asked what the US government was going to do about it. It was clear at that time that “the Troika” – the European Commission, European Central Bank (ECB) and the International Monetary Fund (IMF) – [...]
May 27, 2011
Strauss-Kahn Finds Luxury Digs Pending Court
Disgraced former International Monetary Fund head Dominique Strauss-Kahn finally found a place to call home in New York City as he awaits a court hearing on sexual assault charges. He had met resistance from tenants at two other buildings. Dominique Strauss-Kahn leaves a New York City jail pending court action. (Getty Images Photo) Strauss-Kahn’s new [...]
May 26, 2011
Ex-IMF Chief Strauss-Kahn to Serve House Arrest in Luxury, 6,800-Square-Foot Townhouse
Dominique Strauss-Kahn, the disgraced ex-chief of the International Monetary Fund accused of sexually assaulting a New York City hotel maid, is out on bail and living in luxury in a 6,800-square-foot Manhattan townhouse with its own private spa and movie theater. Strauss-Kahn, charged earlier this month in the alleged attack on the 32-year-old maid, posted [...]
May 26, 2011
Blood at Scene Becomes Pivotal for Strauss-Kahn Defense
Evidence that Dominique Strauss- Kahn’s encounter with a hotel maid may have involved force, including reports of blood at the scene, might damage any defense contention that she consented, former prosecutors said. Strauss-Kahn is accused in a seven-count indictment of forcibly trying to have intercourse with the woman at the Sofitel hotel in midtown Manhattan, [...]