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ECONOMICS – FINANCE – WORLD NEWS – GREEK DEBT

Emerging markets: a snowball of negative scanning

After Brazil’s economic growth collapsed from 7.5% in 2010 to 2% in 2012, the government has now launched a stimulus package worth R$133 or $65.6bn. It involes improving the country’s appalling infrastructure by selling government owned highways and such to private companies. Now, just as a thought experiment, say Brazil slows down further… and further… and further. And the world economy doesn’t pick up come 2015. What happens next? Exactly, they host the Olympics. Ring a bell? read article

Meanwhile in another deteriorating emerging economy, foreign direct investment in China has fallen to the lowest rate in the past two years, amounting to 8.7% less than in summer 2011. But every attempt for China to boost investor confidence seems to stir adverse reaction, as everybody KNOWS what they’re trying to do, indicating that the slowdown is much more severe than expected. It’s like a snowball of negative scanning… read article

In Europe, Spain is about to receive $100bn in emergency funding for its banks, triggered by restrictions of the ECB concerning bank borrowing. These restrictions came into effect last month, when the ECB limited loans against government-guaranteed bonds, causing a planned loan for nationalized Bankia to fall through. Ergo, money needs to come from somewhere else. Oh no wait, it’s coming from the same place, but with a different labelread article

And BusinessInsider gave out a warning that we will soon have to start talking about Greece again. As though I ever stopped…

Banking scandal round-up:

Deutsche BankCitigroup, JP MorganRoyal Bank of ScotlandBarclays (duh), HSBC and UBS have been subpoenaed by New York state attorney general Eric Schneiderman to talk about Libor.

Tonight, the verdict concerning Julian Assange’s deportation to Sweden will be decided. WikiLeak’s founder is sitting around in the Embassy of Ecuador in London since June this year, to avoid his involuntary return to Scandinavia, where he his wanted for sexual assault. Ecuador has already decided to grant Assange asylum, but the British government has informed the South American country that it could have the embassy stormed if they would resist the deportation. All very dramatic.

So long.

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One Response

  1. Brad DeLange says:

    Assange’s home country is Australia, not Sweden

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