Death Star Economics

Icon

ECONOMICS – FINANCE – WORLD NEWS – GREEK DEBT

More stimulus for Japan, more consolidation for Europe (ex-Turkey)

Japan isn’t messing around. Today, the government announced a new stimulus package of almost double the size of the last one in October. With JPY880.3bn ($10.74bn), Japan is now living off all its savings to avoid having to sell more government bonds. The government expects the new stimulus to push GDP by 0.2%. JPY161.2bn will be put towards reconstruction of areas hit hardest by 2011 earthquake. read article

In Europe, the day starts with decisive words from the IMF and the ECB, demanding for Europe’s nations to consolidate their budgets and create a European banking union, also to oversee all banks within the union. The IMF also claimed that France needed to revisit its stubborn views on reform, as Italy and Spain could surpass the country by taking the necessary steps. read article

The German parliament has approved the latest Greek bailout shenanigans. Next up are the parliaments of France and the Netherlands. In the latter, prime minister Mark Rutte said he wants tighter European control over financial issues, while reconsidering powers that currently lie with Brussels but could be handed back to nationsread article

Otherwise, data for German and Greek retail sales (read German retail sales), Italian unemployment, Italian, Spanish and eurozone-wide CPI and Swiss industry, retail and wholesale all missed estimates. Happy days. Eurozone unemployment seems to be the only thing that came in as expected – at a record high of 11.7%.

Meanwhile, Turkey is still holding a grudge against Brussels for not having been able to join the EU yet. Prime Minister Tayyip Erdogan, who recently said the EU had to make a decision on Turkey’s accession by 2023, before the country will turn east, has now commissioned a “giant mosque that will be visible from all across Istanbul.” According to the plan, it would hold 30,000 people. According to Reuters

It is symbolic of Turkey’s tilt to the east under Erdogan, who has chipped away the founding secularism of the modern republic and presided over its emergence as a power in the Middle East.

In other news, the UN assembly has granted Palestine nonmember observer state” status, same as the Vatican. read article

Dominique Strauss-Kahn and Nafissatou Diallo, formerly housekeeper at the Sofitel hotel in New York, have reached a settlement deal, after she had pressed sexual assault charges against the former head of the IMF in 2011. Ka-ching.

Weekend reading

– The Leveson inquiry and modern journalism, read article

– The FT and your flash player explain the UK’s Autumn Statementread article

– More interaction with PBS explaining the web of betrayal behind David Coleman Headleyread article

– Vladimir Putin‘s battle against corruptionread article

– More on corruption, India prepares for cash handout programread article

– Why plan C for Greece isn’t better than any before, read article

Have a good one.

Advertisements

Filed under: news brief, , , , , , , , , , , , , , , , , , , , , , ,

One Response

  1. princess1960 says:

    HELLO
    Europe ..all together 11.7% unemployment .
    i know is more than this number ..we have to wait 2013-14 how much will be out from job.
    Japan i am never worry because this country keep very good the situation up in hand ..
    Turkey R.ERDOGAN ( i don’t like) he think is the prophet of the Turkey AH.. (you will see Turkey ..go to be wors than GR very soon)(economic)
    Palestin .”.observe”they give choice to see how this people reagitation..(my personal opinion is they UN make mistake)
    big mistake ..have many people who leaving and grow up without be member of UN so i don’t understand why Palestin should do? but this politice is btw intreses ..so ISRAEL have to take much more seriously ..NOT JUST ISRAEL BUT ALL THE WORLD) BAD DAY WILL COME remember this we all will be come muslim by force or deside to die .
    Albania was not muslim country (chatolic)after ottoman empire stay 500 y they F….. tham //the same Bosnia //.and peaces inGR// and around everywere was this virus….
    ps ..i have respect for the people keep the religion (like believe ) to the power god )with tham traditional ..(i hate the people who use the religion to kill others)….ingionrant phanatice

    thank you
    i will read others aticle for weekend
    enjoy and have a nice weekend

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: