Word: eu
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...never paid for companionship. He adds that he cannot even have sex, due to an operation he had on his prostate. The prime minister claims that these false attacks have been launched by his enemies; in particular, he blames the left for trying to undermine him right before the EU elections, which took place at the beginning of the month, and the upcoming G8 conference, which will be held in L’Aquila in July...
Indeed, the scandal has had political consequences. While Mr. Belusconi’s approval rating remains above 50 percent, his party, the PdL (Popolo della Liberta—People of Liberty) did not do nearly as well as predicted in the recent EU elections. Berlusconi had anticipated that the party would receive 40 percent of the vote, but in fact it only accrued 35 percent. Berlusconi himself has admitted that the scandal has damaged Italy’s reputation...
...automobiles. The success of the stimulus program, economists say, may be rejuvenating intra-Asia trade links and created a boost to exports from other Asian nations. Singapore's exports to China actually rose a substantial 14% in March from a year earlier, while those to the U.S. and EU fell 31% and 22%, respectively. "China is definitely coming on line and re-activating its call on the Asia supply chain," says Glenn Maguire, chief Asia-Pacific economist for Société Générale in Hong Kong. "That's clearly a positive...
...seen the worst: The stark depreciation of the florint in international markets means that over half of the mortgages in the country (denominated in euros, just like everything aimed to tourists in Budapest) have become unpayable. Macroeconomically, the state has faced a similar constraint: Therefore, the World Bank, the EU, and—most notably—the IMF have agreed to provide funding to avoid disaster. On Thursday, it was announced the country would receive over $25 billion of international bailout funds to last through the year. As David Hechlam, a director of the rating agency Fitch, commented...
...most monetary matters, is long-term credibility. But for Europe, it is also about honoring standing promises. After all, the EU was part of the “value proposition” offered by the West after the communist grip on the region collapsed. It has arguably brought strengthened institutions, representative democracy, and better respect for human rights. Even though these countries may not be technically ready for the euro just yet, the ECB should push for its adoption in order to further integrate nations like Hungary and Poland. Only Europe can deliver them from a potentially catastrophic confidence crisis...