Economy
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World economy
Hopes rise for a Greek bail-out
Britain's Telegraph reports that a Greek bail-out looks likely after Angela Merkel, the German Chancellor, agreed to back France and the European Central Bank (ECB) and ask bondholders to “voluntarily” roll-over their debts, rather than force a restructuring.
World economy
Greece’s debt default could send U.S. into recession, says Greenspan
Business confidence ebbs as joblessness stays above 9%
0Economy
U.S. debts threaten world economy
China, the world's second biggest economy, has warned America that any debt default could be "very serious" to the world economy, according to Reuters. It quotes Li Daokui, an adviser to the People's Bank of China, as saying that “there is a risk that the U.S. debt default may happen.” He says that Republican lawmakers are “playing with fire” by contemplating even a brief debt default to force deeper government spending cuts.
U.S. economy
America's fragile recovery
As America's GDP growth disappoints, forecasters are trimming estimates for the current quarter from about 3.5% to 2.7% or less. The Economist says America's recovery from its financial crisis is starting to look comatose.
U.S. economy
Top fund manager says QE2 has failed
Pacific Investment Management Company, the world's biggest bond fund manager, says that America has failed to reduce unemployment and grow its economy despite its second quantitative easing policy,Bloomberg reported today. The U.S. central bank began the second round of asset purchases, known as QE2, in November after buying $1.7 trillion in securities through last year, increasing the amount of money in circulation to prevent deflation. The central bank's $600 billion in purchases of Treasuries are due to end this month.
In pictures
Quotes of the Day
We are making Sabah not just a gateway for trade, investment and tourism but a modern, vibrant, prosperous and harmonious place to live.
Prime Minister Najib Razak speaking at the open day of the Sabah Development Corridor in Kota Kinabalu on February 16.
Posted on 18-06-2011, 11:24 am