Spain is cutting 27bn euros from its budget in 2012 as part of one of its harshest austerity initiatives in history, the country’s government has announced. Changes are to include freezing salaries for public sector workers, and lowering departmental budgets by 16.9%. Spain’s Deputy Prime Minister, Soraya Saenz de Santamaria, said the country was in [...]
The new conservative government in Spain has set out 8.9bn euros (£7.5bn, $11.5bn) worth of new government spending cuts and tax increases, which have the intention of helping to lower the nation’s levels of borrowing. The announcement, which came as 2011 came to an end, was the first in a series of new austerity measures [...]
Nigerian citizens have condemned their government for removing a fuel price subsidy, which has resulted in prices of petrol more than doubling in many parts of the African nation. Hundreds of people gathered in Abuja, Nigeria’s capital, to protest against the removal, chanting “Remove corruption, not subsidy.” Petrol prices have risen from 65 naira (£0.26, [...]
The new Italian government has adopted a new package of austerity measures, which have the aim of preventing bankruptcy for the country, and saving the eurozone’s single currency from collapse. The austerity initiatives were agreed upon at a recent cabinet meeting, which had to be held 24 hours ahead of the time it was originally [...]
Posted in Economy, Featured Post 
Tags: aim, austerity measures, Economy, euro, eurozone, eurozone debt crisis, Government, Italian economy, mario monti, mr monti, time 
No Comments »
The UK government has announced that electricity costs in the country will go up because of its policies. The Department of Energy and Climate Change stated in its annual energy statement that policies adopted by the government will cause the cost of electricity to rise by 27%, by the year 2020. This cost increase could [...]
The cost of borrowing in Spain has risen sharply after the nation’s government sold off short-term debt on financial markets yesterday. It was the first fund-raising measure to be implemented in Spain since the election of a new government last weekend. The country managed to raise approximately 2.98bn euros (£2.6bn, $4bn) during an auction held [...]
Posted in Economy, Featured Post Tags: auction, Cost, cost of borrowing, debt crisis, Debts, economic situation, eurozone, eurozone debt crisis, financial markets, global economy, Government, image idea, investors, new spanish government, spain, spain's cost of borrowing, spanish economy No Comments »
The Popular Party (PP) has achieved a resounding victory in the recent parliamentary election in Spain. The elections were dominated by the nation’s deep, ongoing debt crisis. With the best part of votes in the election already counted, the centre-right Popular Party, who are headed by Mariano Rajoy, are certain of getting a clear majority [...]
Greece’s leaders have agreed to put together a new national unity government, without their former Prime Minister, according to the country’s president’s office. George Papandreou has now agreed to leave his post – his successor is expected to be chosen today. The president’s office has made a statement declaring that once the country’s new leader [...]
Ed Miliband, leader of the opposition Labour Party, has urged the UK Prime Minister David Cameron to “change course” on the economy and called on him to “start showing some leadership”. The leader of the Opposition insisted that the programme of austerity measures implemented by the coalition government, intended to reduce the UK’s budget deficit, [...]
Posted in Economy, Featured Post Tags: Auto, Deficit, Draft, Government, Labour, labour party conference, opposition labour party, university tuition fees No Comments »
The UK Government has decided to delay until 2012 the bidding contest for the supply of trains to Crossrail, a major new rail project linking East and West London. Earlier this year the contract to build new trains for the Thameslink project went to German constructor Siemens (FWB: SIE; NYSE: SI) instead of Bombardier (TSX: [...]
Chinese Internet Sites Hit By Anonymous Attack 
Investors’ Better Off Buying Oil Than Gold, Says Leading Fund Manager 
James Murdoch Leaves Chairman Post At BSkyB 
Sentiment Of Canada’s Small Businesses Rises For Seventh Consecutive Month 
New Website Aims To Become Big Player In The Daily Deals Market 
RSS Feed
Twitter