Word: downturned
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...downturn is playing havoc with Eastern Europe's currencies. Since last summer, the Polish zloty has lost 48% against Europe's common currency the euro, the Hungarian forint 30% and the Czech Krona 23%. That makes euro-denominated debt, which has risen dramatically anyway in the past few years, much harder to pay back. In Poland, foreign currency debt held by households has tripled in three years to 12% of the GDP last year, with some 70% of mortgages taken in foreign currencies. In Hungary, foreign currency loans make up 62% of all household debt, up from 33% three years...
...market is being driven by fear and panic right now, which is what happens in a crisis. They could open up funding for the region through tie-ins with central banks in Western Europe or make available an IMF crisis fund of $500 billion for emerging Europe during the downturn...
While the recent economic downturn has left more families than ever before in need of financial aid, the difficulty of the paperwork that financial-aid applications require has reached an unnecessary high. In times like these, it is disheartening that the current Free Application for Federal Student Aid (FAFSA) form poses a major barrier to many potential applicants who need financial aid the most. With more than 100 questions, the current form—which, ironically enough, was created in the early 1990s in an effort to streamline the financial-aid process—seems excessive and inefficiently constructed...
...reason we kept tuition so low is because we know even our families who don’t qualify for financial aid are experiencing the downturn, and we wanted to recognize that,” said Robin A. Moscato, Princeton’s Director of Undergraduate Financial...
...director, Leon Panetta, told journalists that it was important to know how the global economic downturn is affecting the stability and foreign policies of key U.S. allies and rivals, especially China, Russia and countries in Latin America. He singled out Argentina, Ecuador and Venezuela as countries in particularly dire straits. The briefing will also be shared with "key players in the Administration." The objective, Panetta said, is to "give policymakers a feel for what's going on ... so they can use it [in decision-making...