Word: bankes
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...filled press and opposition that want to bring him down with "trash" and "gossip." It's possible, if the investigation into the prostitution allegations came to any embarrassing conclusions, that Berlusconi might have to step down, opening the way for a caretaker government headed by someone like Bank of Italy Governor Mario Draghi or Economy Minister Giulio Tremonti. But don't count Berlusconi out yet. Perennial challengers like parliament Speaker Gianfranco Fini on the right and former Prime Minister Massimo D'Alema on the left, have largely lost credibility in the face of their opponent's political savvy...
Russia's economy - until recently one of the fastest growing in Europe - is in dire straits. In the first three months of this year, output fell by 10% compared with a year earlier. The World Bank now expects the economy to contract by around 8% for 2009 as a whole. Traditional industries such as steel are hurting badly. The decade-long consumer boom has turned into a slump as unemployment soars. The government has cash to spend after years of sensible budget policies, but the central bank will be forced to keep interest rates high as long as inflation...
...year since civil war ended in 2002. But a corrupt and inept ruling party that has neglected to spread the wealth or diversify the economy means that when the good times end, as they now have, the effects are severe. Ricardo Gazel, the World Bank's representative in Angola, says Angola's GDP is likely to fall by anything from 17% to 23% in 2009. (Read: "World Bank: Crisis Hits Developing Nations Harder...
...France's national holiday commemorating the July 14th storming of the Bastille prison 220 years ago, came to Holyoke Street today as revelers scarfed down cheaper offerings from local restaurants such as Finale's and Rialto and downed alcohol in a roped off area in front of Cambridge Savings Bank designated the "Beer Garden...
...think he realized deep down that he is going to be remembered in history for his unfortunate contributions to the American role in Vietnam," Kalb said. "[McNamara] could have worked 50 years at the World Bank, and when he died, the lede would still say he was the man who failed in Vietnam...