Euro crisis: It is time for European debt restructuring. Will Europe dare to undertake it?

Euro-zone weights a new plan to face the crisis, which will be discussed during the Brussels European Summit, and for which Europe expects to receive support from their G-20 colleagues, in the next Group meeting, which will take place on November 3 and...

Dark Clouds over the Global Economy

By Raul de Sagastizabal The downgrade of American bonds along with the problems of the European over-indebtedness increases the fear of a recession or a sharp slowdown in the global economy. Much of the market turmoil responds to the fear of investors,...

Irish Gloom and Koreans on Brink of War Push Stock Markets into the Red

As if the rescue of Ireland’s collapsing economy and fears over Portugal and Spain in the debt-domino-debacle wasn’t enough, North and South-Korean fire exchange adds fuel to an already blazing fire sending shares across globe into the red...

Eric Cantona Calls for Run on the Banks

As Europe crumbles under an ever worsening debt crisis, activists are calling for a banking crash on the 7th December. Ex-footballer Eric Cantona has taken up the task to promote a revolution against the banking oligarchy calling for everyone to take...

Ireland Bailout Within 2 Weeks, Portugal in 1 Month says RBS

The public debt crisis sweeping the European Union could be moving into decisive moments. The British governement controlled RBS (Royal Bank of Scotland) is betting on a bailout for Ireland in less than 15 days and another for Portugal before the end...

Who Owns the American Dollar?

I have never heard anyone question who owns the U.S. dollar as it seems obvious; the state owns and manages it. Not so quick: It belongs neither to the government of the United States nor, being a republic, to its people. The actual dollar has...

Japan heading for “financial meltdown” says analysts

Japan’s economy is heading towards financial meltdown, say analysts, who see that public debt in Japan is greater than that of any other industrialised nation. Public debt in Japan is heading towards 200 per cent of GDP within the next year. Hideo...

Debt Burden Continues to Cripple the South

Between 1970 and 2002, the continent of Africa received some US$540bn in loans. However, a United Nations Conference on Trade and Development (UNCTAD) study, Debt Sustainability: Oasis or Mirage? revealed that despite repaying some US$550bn in principal...

The ongoing persecution of Haiti

Today Haiti is most commonly known for being the poorest country in the ‘western’ hemisphere and a land wracked by destitution and despair. This picture has only been reinforced by the horrific consequences of the January 12th earthquake, 15 kms south-west...

Is the EURO on the brink of collapse?

George Soros recently claimed the euro may not survive and be in danger of total collapse, given the sovereign risk threat from Greece and the growing debt burden of other member states. Soros declared that gold is a bubble at the World Economic Forum...