Word: economice
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Greek Prime Minister George Papandreou has put tax reform at the heart of his austerity plan, and says his government is serious about fixing the roots of his country's current economic predicament. He says Greece will tackle its deficit without the deep government-wage or job cuts that other...
Papandreou says fixing Greece's mess will require rebuilding people's trust in the government. "This is more than an economic problem," he told reporters. Greece's government, he said, had a "credibility deficit" at home and abroad.
Shortly after Papandreou took office in October, his socialist government revealed that Greece's finances were in far worse shape than the previous government had let on. The 2009 deficit was nearly 13% of GDP, more than four times the euro zone's 3% limit. The European Commission blasted Greece...
But that would be economic war. The U.S. market represents 40% of UBS' business, and UBS accounts for about 20% of the economy of Switzerland, which is a de facto ally of the U.S., helpful in numerous places around the globe.
And then there's corruption. Jonathan may have got the Bayelsa governorship through his boss' alleged misdeeds, but he is hardly free of the biggest impediment to progress in Nigeria: corruption. The election that saw Yar'Adua and Jonathan win office was described by the E.U. Election Observation Mission to...