Category Archives: Economy
Despite boasting the largest economy in the world, it seems that we shouldn’t be taking any budgeting tips from America. The country currently finds itself facing a debt crisis that will surely have the next U.S. president sweating, with the nation on course to meet its borrowing limit around mid-March 2017.
With so much worry about the growing size of the UK National Debt, as well as the debt of many of the world’s other leading economies, the words debt and deficit have been thrown around a lot in the media lately. Politicians use these terms to try and justify how well they are performing with the economy, or how poorly the opposing side is performing. Often times, though, it can be a little confusing wrapping your head around what these terms actually mean and also what the difference between debt and deficit is.
The Greek Crisis May Have Been Averted but Bearish Sentiment Prevails
The Greek Crisis precipitated a political firestorm in the country, with 39 members of the far left Syriza Party rejecting the European bailout conditions in the Greek parliament.
If tonight’s news reports about Greece are to be believed then for the next day or more, Greece’s banks will remain closed and capital controls will be introduced. So what are capital controls and how do they work?
The Greek crisis has been with us for what seems like forever but it does seem as though this month might finally see the end game play out in one way or another, with Greece either defaulting on its debts and leaving the euro or instead reaching an agreement with its creditors, a deal which is acceptable to the Greek people of course.