Word: sectoral
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...crisis. “We are facing one of the worst financial crises during the past century.” Zuluaga said. “This economic crisis has rooted from the most advanced economy, from the motherland of some of the brightest economists we have, from the sector that was considered to be the safest in the world: America.” But Zuluaga said he thought that although the waves from the financial fiasco from the U.S. might affect the Colombian economy, the country will still enjoy “a higher growth potential compared to its historical...
...collaboration with UN Volunteers, the program has already received over 100,000 applications from would-be volunteers and is struggling to accommodate them all. "Such a visionary and large-scale program has only been possible because we've been able to get the media, civil society and corporate sector together," says Adeline Aubry, a former UNV program officer under whom the initiative was launched. India has had a long tradition of volunteerism, she says, "but Teach India gives them a giant common platform for a common cause...
...good news is that Congress has already added a tinge of green to the bailout. The bill, which passed the House of Representatives on Oct. 3 and should be signed soon by President George W. Bush, includes a long-awaited extension of tax credits for the clean energy sector, which had been due to expire at the end of the year. But if this really is the Great Depression 2.0 and we all end up on the street selling apples and iPods, well, at least our carbon emissions will fall...
...another as claiming that “it felt like there was no ground beneath your feet” last week, bankruptcies are sometimes as inevitable as they are necessary. They ensure that when one segment of the economy grows out of proportion as the financial sector did, it will eventually shrink. That certainly does not imply the process is painless, but it is also not apocalyptic, as some market participants insist, with a healthy dose of melodrama...
...Europe was looking askance not just at the U.S., but also at tiny Iceland, whose government on Monday completed what amounts to an emergency seizure of its oversized banking sector. Prime Minister Geir Haarde went on television Monday night to warn his compatriots that "the Icelandic economy, in the worst case, could be sucked with the banks into the whirlpool, and the result could be bankruptcy." That's not just talk: Iceland's GDP amounts to less than one-tenth of the total assets of its three biggest banks, all of which are in trouble. British financial authorities warned...