The BBC have this infographic about what happens if Greece leaves the Euro. Source: BBC But, when I look at this. Everything has already happened. Greece is already in recession. It has been in recession for past 5 years. Greece already has bank runs. Multinationals are not keeping money in Greek banks Due to unemployment …
France national debt has increased significantly over the past two decades. In 1985, government debt was 37.9% of their GDP. French national debt is now 85% of GDP. In Q4 2011, French debt is currently 1717 bn Euro Source: INSEE – general government debt according to Maastricht criteria. Up to Q4 2011 Public sector debt …
Two articles in the Guardian today: Shell makes £2 million profit an hour Shell says it can not ‘justify’ investing in wind farms in the north sea. Shell’s profits increased 11% in first-quarter of 2012 to $7.3bn (Annual profit of around $29bn) Shell Claim: “Our profits pay for Shell’s dividends and substantial investments in new …
Recently, the IMF have been working hard to establish a bigger fighting fund to help out insolvent Eurozone economies. (Although they say, it is not just for the Eurozone, but for the whole world economy.) Extra contributions from IMF members have raised an extra £300bn – taking the total of IMF funds to £1,000bn. The aim …
Preliminary figures for Q1 2012 show the UK has re-entered recession, with a second successive quarter of negative economic growth. The negative economic growth occurred despite a small growth in the service sector and spurt in retail sales of petrol. The biggest factor contributing to the negative economic growth came from the construction sector, which …
Since coming to power, the Conservatives have made reducing the UK’s record peace time deficit a high priority. It has been argued that drastic action was necessary to avoid the UK’s debt becoming unmanageable. David Cameron argues without rapid spending cuts, the UK could be facing rising interest rates and the prospect of debt default, …
Readers Question: Why is the current recession in Europe so bad? The recession in the Eurozone is one of the deepest recessions on record. For example, Greece are expecting 2013 to be the sixth consecutive year in recession (with on and off quarters of recovery)- this is one of the longest recession on record. Output …
Readers Question: There just seems to be many paradoxical actions taking place in markets and economies at the moment. How do we explain? Paradoxes of UK economy Low interest rates have not increased spending / economic growth Despite recession, inflation has been above target. Despite recession and depreciation of Pound, current account deficit increased in …