World Economic News Round-up

World’s hungry ‘close to one billion’ – Financial Times, UK 12/9/08

Global Crisis Hits Overseas Workers Hard – Alternet 12/27/08

Exporters meet to create ‘gas Opec’ – Financial Times, UK 12/23/08 

S&P downgrades 11 of world’s top banks – Financial Times, UK 12/19/08

The ratings agency said the current downturn could be longer and deeper than previously thought

Asia Economic Crisis: Spotlight on Japan, China, Korea, Vietnam – Implode Explode 12/27/08

Japanese Rating Agency Chief Recommends Marshall Plan for US – Implode Explode 12/24/08

Japan Should Scrap U.S. Debt; Dollar May Plummet, Mikuni Says  – Bloomberg 12/24/08

China says lending to US will not go on forever – AFP/Yahoo 12/17/08

Japan cuts rates to near-zero amid dire world economic outlook (AFP)  – Yahoo 12/19/08

Japan doubles size of rescue plan – BBC 12/12/08

Japan’s roadmap for the U.S. economy – Raw Story 12/19/08

Brazil, Russia, India and China: BRIC Nations Expected to Drive 70% of Global Growth – Global Research 12/27/08

The Argentine debt crisis & its US parallel – Implode Explode 12/24/08

Argentina tries gov’t car loan plan – CNN 12/6/08

Ecuador defaults on soverign bonds – Financial Times UK 12/12/08

Ireland Props Up Three Banks and Takes Control of One  – NYTimes 12/21/08

Poor families’ loan interest fear – BBC 12/20/08

Interest rates of up to 26.8% could apply to state emergency loans, under reforms being considered by ministers.

Bank of England mulls “nuclear option” of cash injection – Telegraph, UK 12/4/08

The Bank of England is working on radical plans to inject cash directly into the economy – the nuclear option to be used only when interest rates approach zero. 

Sweden offers $3.4 billion auto bailout – CNN 12/11/08

Bailiffs get power to use force on debtors – Times, UK 12/21/08 

The government has been accused of trampling on individual liberties by proposing wide-ranging new powers for bailiffs to break into homes and to use “reasonable force” against householders who try to protect their valuables.  Under the regulations, bailiffs for private firms would for the first time be given permission to restrain or pin down householders. They would also be able to force their way into homes to seize property to pay off debts, such as unpaid credit card bills and loans.

Oligarchs Seek $78 Billion as Credit Woes Help Putin – Bloomberg 12/22/08

Russians Buy Jewelry, Hoard Dollars as Ruble Plunges – Implode Explode 12/11/08

India unveils $4bn stimulus plan – BBC 12/7/08

Ottawa gives autos $3.5 bil aid package – Raw Story 12/12/08


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