Home » Financial Crisis


Plunging Oil Prices could Ignite a Debt, Job and Derivatives Crisis

Post Pic
Howard Marks believes the plunge in oil prices may usher in a new era for investing in distressed debt. For more than three years, the billionaire investor and Oaktree Capital Group LLC (OAK) co-founder urged his deal makers to be cautious, warning of loose credit standards and high prices for distressed assets. That may change as the price of oil plummets, Marks said in a letter to clients yesterday. “With... 

Putin Orders Feared “Samson Defense” To Collapse US-EU Economies

Post Pic
A chilling report published today by the Ministry of Economic Development (MED) is warning of potentially “catastrophic unknown consequences” relating to President Putin’s issuance to the Central Bank of Russia (CBR) of orders to initiate what is commonly known within the Kremlin as the “Samson Defense” designed to crash the Russian ruble, while at the same time insuring the economic collapse... 

US Senate Passes Budget Over 6X Larger Than Number of Galaxies in Universe

Post Pic
The $1.1 trillion spending bill approved by the Senate Saturday night is over six times larger than the estimated number of galaxies in the observable universe. $1.1 trillion is a little over a thousand billions and astronomers estimate there’s only around 170 billion galaxies in known existence, stretching nearly 14 billion light-years away in every direction. Additionally, one study estimates... 

Hundreds of Hungarians hold anti-government protest

Post Pic
Hungarians gather in front of the parliament building during an anti-government demonstration in the capital Budapest on November 17, 2014. Hundreds of Hungarians have taken to the streets of the capital Budapest to protest against alleged government corruption, austerity measures, and worsening social welfare. Some 2,500 people staged a rally outside the Hungarian Parliament building on Sunday. The... 

Thousands of UK families face winter of poverty

Post Pic
Thousands of British families will be dependent on handouts and charity this Christmas as rates of poverty in the UK continue to soar. At a time when real wages remain stagnant for most of the UK’s lowest paid, it is estimated more than 2,000 working families will find themselves in need of assistance from voluntary organizations for food and other necessities. According to a feature report published... 

Hunger in UK at alarming levels: Top priest

Post Pic
The head of the Church of England has expressed shock over the scale of hunger in the UK, calling for reforms aimed at providing support for the have-nots. Writing in the Mail on Sunday, Archbishop of Canterbury Justin Welby said he was more appalled by the plight of poor British families relying on food charity than starvation in Africa because the phenomenon is unexpected. Welby warned that hunger... 

Hunger in Britain more shocking than in Africa

Post Pic
A British pastor has called for more government action against the UK’s hunger crisis. Stephen Sizer, pastor of the Christ Church of England, has told Press TV’s UK Desk that “the government needs to do more, but I suggest that needs to be done at the local level, where people live by those who have responsibility for them, local government, local council.” Sizer also pointed to the underlying... 

Argentina state workers protest against low pay

Post Pic
Argentinean state workers have gathered in the capital, Buenos Aires, in protest against low pay, Press TV reports. The demonstrators have also been demanding an end to labor taxes and an emergency year-end bonus. “Federal workers from all Argentinean provinces, we are the pride of this country as we defended it in the darkest time … in the 90s. We are still standing and we will continue our fight... 

British NHS staff stage mass protest

Post Pic
Britain’s National Health Service workers have staged a mass walkout over a pay dispute with the government. Over 400,000 NHS workers, including midwives, nurses, radiographers and psychiatric staff, have taken action as part of an ongoing battle with the government over pay. The strikes follow a government decision to reject a proposed 1 percent pay rise. Four hours of industrial action began at... 

Teachers protest against education cuts in Hungary

Post Pic
Demonstrators gather on the Kossuth Square in front of the Hungarian Parliament building during an anti-government demonstration, called Day of Public Outcry in Budapest, Hungary, November. 17, 2014. Thousands of Hungarian teachers have staged an anti-government protest in the capital Budapest to call for dialogue on education reforms and a halt to funding cuts. Some 2,000 teachers said on Saturday... 

Police pepper sprays protest in Germany as activists storm new EU central bank HQ

Post Pic
German police used pepper spray and clashed with anti-EU protesters, who stormed and vandalized the new European Central Bank building, which is under construction now in central Frankfurt. Calling themselves Blockupy, thousands of activists gathered in the city center on Saturday and marched to the goal of their protest, the new ECB office, which is to be inaugurated next March. The cost of the new... 

Half of UK councils face financial collapse

Post Pic
Half the UK’s local councils are at risk of collapse, the government’s official auditor has said, warning that one in six may be unable to provide basic services this year. The warning comes after severe cuts in national government funding. In a report produced by the government’s official auditor, the National Audit Office (NAO) on Wednesday, 52 percent of councils were said to be at risk of... 

Police, anti-austerity protesters clash across Italy

Post Pic
Demonstrators protest in central Rome, Italy, on November 14, 2014. Several Italian cities, including the capital city of Rome and northern city of Milan, have witnessed confrontations between police forces and anti-austerity protesters. On Friday, trade unions and students staged strikes and rallies in more than 20 cities against labor market and other reforms. Officers were pelted with eggs and red... 

Thousands protest in France against austerity measures

Post Pic
Tens of thousands of people have taken to the streets across France to express their resentment over the latest austerity budget presented by President François Hollande, which will make it difficult to lead the nation’s flagging economy back to steady growth, Press TV reports. On Thursday, the demonstrators marched in major French cities in protest at Hollande’s 2015 budget blueprint, which... 

Gold predicted falling world growth and inflation

Post Pic
My exposure to resource stocks is as low as it has been in recent history and still, I’m nervous. Things are happening that shouldn’t be. The last time I said that was last July when I turned bearish and defensive on gold. And here in October I’m sensing the same thing. Let me repeat my thesis: that the world economy is moving toward deflation and recession and the realization of... 
Copyright © 2009 The European Union Times – Breaking News, Latest News. All rights reserved.