The Spanish government intends to spend about 1 million euro on police riot gear, despite the country’s debt rising by 58 billion euro over the last year. Authorities worry about widespread protests they believe will grip the nation in the autumn.
The plight of poverty-stricken fast-food workers in the US epitomizes the general breakdown of American society. Millions of workers in that industry are so exploited it is estimated that more than half of them can only make ends meet by relying on some form of government handout.
The Dow Jones stock average closed Friday at 17,137, despite the fact that the payroll jobs report was a measly 125,000 new jobs for August, an insufficient amount to keep up with the growth in the working age population.
Additional European Union’s sanctions against Russia might have an extremely detrimental effect on the national economy of Slovenia, Ales Cantarutti, the chairman of the Slovenian Trade and Industry Chamber, said on Thursday.
Ukraine is going through a perfect economic storm. Ravaged by civil war, left with no parliament and led by a self-styled “kamikaze government”, the country is on the verge of a full-fledged economic disaster.
According to S&P’s assessment, “extreme” levels of income inequality can harm growth over long periods of time, and in their view, the United States is approaching a level of inequality that is very near the threshold of being dangerous.
The French President revealed on Tuesday the names of the ministers in his new government tasked with pushing through crucial reforms. The key role of Economy Minister went to former banker and key Hollande ally, Emmanuel Macron, aged just 36.
Disagreement between Eurozone countries has come on the back of very poor GDP growth in recent months. German chancellor Angela Merkel blames euro-neighbours, France among them, saying they're unable to deal with their high deficits, but analyst Michael Mross says Germany's austerity policy will not solve the EU's problems.
Critics of France’s Socialist government were quick to point the finger at president François Hollande and his ministers on Thursday after the latest figures on the economy made for some sorry reading.
Russian Prime Minister Vladimir Putin accused the United States Monday of living beyond its means "like a parasite" on the global economy and said dollar dominance was a threat to the financial markets.
Germany, Russia’s important trading partner, will be hit the hardest by the European Union's sanctions against Russia, Josef Yanning, Director of Studies at the European Policy Center in Brussels, said on Friday.
Ukraine’s Ministry of Revenue and Duties collected 75.8 billion hryvnia (6.4 billion U.S. dollars) in the first six months of 2014 and this is one percent less than planned, Chairman of the State Fiscal Service Igor Belous told reporters on Thursday.
Spain is soon to start including estimated revenues from drug trafficking and the sex trade when calculating its gross domestic product (GDP), a move expected to boost economic results, officials said on Thursday.
Widely rejected by European business, US and EU officials are pushing for more sanctions on Russia. Some analysts believe any further restrictions would drag Europe's economy down, while boosting America's.
A blast furnace at an Italian steel plant was shut down on Thursday with 4,000 jobs at risk despite a call by Pope Francis for officials "to make every effort in terms of creativity and generosity to rekindle hope".
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