Word: aid
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...past few months, though, Kapitalizm's jaws have snapped shut. The global credit crunch has hit the economies of Eastern Europe hard. In Hungary and Latvia the International Monetary Fund has stepped in with emergency aid. (Latvia's government collapsed anyway.) Currencies have crashed, leading the European Central Bank to help Hungarians and Poles keep paying their foreign currency-denominated mortgages by pumping in euros. The fear now is that the region's banks could collapse, especially if Western banks yank credit lines to eastern subsidiaries. Such a move would be counterproductive. Western banks, particularly in places such as Austria...
...avoid that, Hungarian Prime Minister Ferenc Gyurcsány wants $230 billion in aid for Eastern members hardest hit by the crisis, and fast-track membership to the eurozone, the club of nations that uses Europe's common currency. Without help, Gyurcsány says, there is likely to be social and political unrest and a new economic Iron Curtain across Europe...
...February, Governor Deval L. Patrick ’78 decreased state aid to Cambridge by $2.6 million for the current fiscal year, which ends in June. The loss of funds is small compared to the city’s overall budget of $434 million. But, combined with the fact that “all other revenue sources are ‘flat’ during this economic downturn,” it was expected to necessitate “serious expenditure reductions,” wrote City Manager Robert W. Healy in a memo to the City Council...
...While city officials report that they are managing the current budget shortfall, several say that further decreases in state aid and slowdowns from other revenue sources may cause fiscal woes—or perhaps higher taxes—in Cambridge’s future...
...Along with the cuts for the current fiscal year, the state department of revenue announced in February that aid to communities would be cut for the 2010 fiscal year...