Tag Archives: eu

Business/Economics, International

What Economic Recovery? EU holds back on second Greek bailout, possible “catastrophic default”, wants Greece to make even more cuts

European Union finance ministers are holding back on another bailout loan for Greece.  They’ve decided that Greece to needs to make even more cuts to social services, and other government spending (which is called “austerity”, something that’s going on in the U.S., but U.S. officials and media have avoided using that term).

The EU decision came even after Greece announce it would sell off government properties, like airports.  In July, Greece is supposed to make a payment on the bailout loan they got last year.

EU finance ministers are worried that Greece will experience a “catastrophic default” if it does not make even harsher cuts in spending, and so are holding back on the second bailout loan.

Last week the International Monetary Fund warned that the global economic crisis had entered the “political phase”, meaning that only governments could save us now.  Not good when you see what’s happening in Europe.

 

Business/Economics, International

Deadly E Coli engineed in Lab, Russians asked to help

“If you look at it genetically…you have to come to the conclusion that this strain was exposed to eight different classes of antibiotics in its creation. This does not happen in the wild where you have a strain that is resistant. This looks like, genetically, that it had to be engineered.”-Mike Adams, NaturalNews.com

European Union scientists have sent the deadly e.coli samples to Russian labs.  At the same time the EU is complaining about Russia’s ban on EU vegetables.  Russia says it’ll lift the ban as soon as the EU can prove their  produce is safe.

 

 

Business/Economics, International, U.S.

What Economic Recovery? The U.S. was lagging behind Europe even before the Credit Crisis

Before the 2007-08 Credit Crunch Crisis the United States was far behind the European Union, when it came to new job creation.

According to a Fortune article, from 1999 to 2008 the EU created 14 million new jobs, while the U.S. created 8 million.

On top of that, once the economy started down the drain the United States lost more jobs than were lost in the EU.  Percentage wise the EU and U.S. are around 9% unemployment (officially, unofficially the percentages are higher), but when you look at actual numbers the U.S. is leading the way down.  As of December 2010, the difference in job losses, between the EU and U.S., are about 7 million.

 

Fukushima, Technology

Black Week in Ukraine, Chernobyl anniversary, still seeking funds with ongoing clean up efforts

25 years after the deadly nuclear accident at the Chernobyl plant, the Ukraine is still struggling to deal with the disaster.

This week is Black Week, the official anniversary of the nuclear accident, which happened on 26 April 1986.  31 people were killed, as a direct result of the disaster, and many more have suffered cancers, and children being born with defects.

The amazing thing is that clean up efforts continue, and the Ukraine is struggling to pay for it.   Officials are trying to raise U.S.$ 1 billion for future clean up projects.

Fukushima, Technology

Germany will dump nuke plants ASAP

The German government announced that they will end the use of nuclear power plants as soon as possible.

Germany is prepared to spend the money necessary to make renewable clean energy sources their main power supply by 2020.  Germany will keep its coal and natural gas fire electrical plants in operation.

International

Food Crisis: World Food prices in “Danger Zone”, creating Mass Poverty

The U.S. based World Bank says international food prices have entered the “danger zone”, and are heading towards the “tipping point”.

World Bank president, Robert Zoellick, blames in on several things.

People in countries where the economies are good, are buying more meat.  The problem is that increasing meat production means more grain crops going to ranchers, instead of food for people.  Crops used for bio-fuels, instead of food,  is also a problem.

Then there’s a supply system problem; it’s taking longer to rebuild stocks of basic food ingredients, once they are used up.  This is made worse by the fact that many countries are facing lower crop production mainly because of climate change (cold wx, flooding and drought).

Add to that oil.  Petroleum is used for fertilizers, pesticides, etc, and that is adding to the cost of food production.

One country, China, is so scared of lack of food that they’re buying up huge tracts of land in Africa for food production.

Zoellick says this is a long term problem, we’re only at the beginning of higher food prices.  Also, while countries with more money to buy food are seeing higher prices, the poorer countries are paying far more for their food.

Zoellick says just since last year the higher prices have pushed 44 million people into poverty.  He predicts another 10% increase in food prices will push another 10 million people into poverty.

Business/Economics, Fukushima

VW was looking to buy Isuzu, rethink after March 11 disasters

Volkswagen has been considering taking over Japan’s Isuzu, in a joint venture with Germany’s truck maker MAN.  They’re a little hesitant after the 11 March 2011 disasters.

VW is also working on a partnership with Suzuki.  The German car maker has cited cultural differences as problems getting into the Japanese market, but now has to consider the damaged ‘just in time’ production practices in Japan, which is causing the current severe parts shortages.