Greece is to receive a vital 14.5-billion-euro loan instalment from the European Union a day ahead of maturing debt payments worth nine billion euros, a finance ministry source said on Monday. The ministry source, who declined to be quoted, confirmed news reports that the instalment, part of a giant rescue package worth 110 billion euros (136 billion dollars) from the EU and the IMF, would be available on Tuesday. Greek media and analysts had earlier noted that the loan comes in the nick of time to enable Greece to repay a 10-year-bond maturing Wednesday.
Today’s European crisis has been precipitated by Greece acting with possibly reckless honesty, and Germany behaving badly toward Greece. The latter a case of the pot calling the kettle black; Germany itself is running a deficit of some 3 percent over the EC stability pact limit — promising, like Greece, to do better in the future.
03
May
10
Current Events of Greece
Chancellor Angela Merkel’s Cabinet approved legislation on Monday that would give Greece euro22.4 billion ($29.6 billion) over three years as part of a wider bailout, as the German government acknowledged that letting Greece go bankrupt could send the euro into a tailspin and hurt Germany’s own economy.
26
Apr
10
Flu Out Break hits Hong Kong
Hong Kong health authorities tried on Thursday to calm public fears over a flu outbreak which has left four children dead and led the city to close all primary schools and kindergartens. It was the first time schools in this Chinese city have been closed for a health scare since the 2003 SARS epidemic. The order came on Wednesday, just hours after a flu-like illness was reported in nearly two-dozen schools. “It was quite a difficult decision but we realise the number of infections is increasing,” Health Secretary York Chow told a news conference on Thursday morning, when the closures took effect. “It’s not something based entirely on public health data at the moment. But I think the public would appreciate that what we are doing might be a little drastic – but it’s reassuring to the community,” he said.
19
Apr
10
Current Events 4-19-10
The death toll has climbed to 1,706 from a devastating earthquake in northwest China’s Qinghai Province, with 256 people still missing, the rescue headquarters said Sunday.
13
Apr
10
Current Events
Within the next several years, China’s “gray” (50-plus) market will be the most potent spending demographic on the planet. By 2025, there will be more than 500 million “mature” Chinese consumers, accounting for 36% of the country’s population up from 300 million today. Their per capita spending power will exceed US$4,100, up from US$1,620 in 2006.
29
Mar
10
Current Events- China
Another piece has fallen into place in China’s legal jigsaw, and its significance will be felt all the way from Politburo to the man on the street.
22
Mar
10
Current Events 3/22/10
Pune bomb blast, Pakistan’s ISI smiles, and Indian security in shambles. Congress party and its appetite for Muslim votes to blame – what about pro-Pakistani Khan? What about the communists headed by Hindu Bramhin (Bhattacharya) in Bengal who just created a 10% quota for Muslim to secure minority votes?
15
Mar
10
Current Events 3-15-10
Terrorists are funded by Pakistan’s ISI. Pakistan wants to come to the India-Pakistan talk while their agents are blasting Pune and other places. Pakistan cannot control terror because terror controls Pakistan, a failed nation!
09
Mar
10
Current Events 3/8/10
Lyondell Basell Industries said the company has rejected a bid by Reliance Industries to take a controlling stake in the company, saying its own plan to get out of bankruptcy by restructuring the company is superior.
