DEPRESSION ECONOMICS – MONDAY 12TH SEPTEMBER 2011

FTSE 100 5129.62 Down -85.03 -1.63% Dax 5072.33 Down -117.60 -2.27% Cac 40 2854.81 Down -119.78 -4.03% Dow Jones 10991.49 Down -0.64 -0.01% Nasdaq 2483.88 Up 15.89 0.64% BBC Global 30 5180.35 Down -32.14 -0.62% £$ – 1.5864 1.1613 122.6050 Brent Crude Oil Futures $/barrel 112.18 -0.59 -0.5 West Texas Intermediate Crude Oil Futures $/barrel 88.53 +1.34 +1.5 Forex Gold […]

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Nazi Smith says state pension age is rising too slowly

11 September 2011 Last updated at 10:58 http://www.bbc.co.uk/news/business-14871063 The government says the timetable for raising the state pension age to 67 is too slow. “We’ve always said that the timescale left by the last government was too slow,” Work and Pensions Secretary Iain Duncan Smith told the BBC. At the moment, the age is due to rise to 67 in […]

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IMF’s Christine Lagarde urges global action as G7 meet

Christine Lagarde: “Strong fiscal consolidation is essential to restore debt sustainability” 10 September 2011 Last updated at 10:20 http://www.bbc.co.uk/news/business-14851393 International Monetary Fund chief Christine Lagarde has urged “bold action” on the faltering world economy, as the G7 group of leading economies met for talks in Marseille. The G7 is discussing a “coordinated response” to the economic turmoil. The two-day meeting […]

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Juergen Stark in surprise resignation from ECB

Juergen Stark’s resignation is regarded as a blow for the ECB, say analysts 9 September 2011 Last updated at 17:24 http://www.bbc.co.uk/news/business-14858155 European Central Bank chief economist Juergen Stark has resigned amid speculation of conflicts within the ECB over its bond-buying programme. The ECB said the German was leaving “for personal reasons”, but would stay in the job until a successor […]

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Global stock markets down on debt fears as euro falls

12 September 2011 Last updated at 17:34 http://www.bbc.co.uk/news/business-14878499 US shares are trading lower, following falls in European and Asian markets on fears that Greece may default. A series of news reports that Germany may be preparing for an “orderly default” by Greece also sent the euro lower. German officials sought to shore up confidence on Monday, saying the stability of […]

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Former Iceland PM Geir Haarde goes on trial

5 September 2011 Last updated at 11:40 http://www.bbc.co.uk/news/business-14783765 Former Icelandic Prime Minister Geir Haarde is on trial at a special court on charges of “failures of ministerial responsibility” in his handling of the 2008 financial crisis. The country’s three main banks collapsed amid economic turmoil. The failure of Icesave, which hit thousands of savers in the UK and Netherlands, led […]

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German court rejects challenge to eurozone bailouts

BBC’s Gavin Hewitt said the bail outs are becoming increasingly unpopular with Germans 7 September 2011 Last updated at 11:21 – http://www.bbc.co.uk/news/business-14817440 Germany’s highest court has rejected a challenge to the country bailing out other nations in the eurozone. The Constitutional Court was responding to a challenge brought by six prominent German Eurosceptics. But the court did say the government […]

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