Hard hitting global and local news
More Christie Allegations: Mayor of Flooded Hoboken Claims "Christie Held City Hostage" New Jersey Governor Chris Christie has been damaged by numerous allegations involving political paybacks regarding lane closures on the George Washington Bridge that disrupted traffic for days. That scandal was bad, but at least Christie has claimed no personal involvement.
Greece Will Default in May Without Another Bailout or Change in Terms Cash flow analysis shows Greece is in serious trouble again in spite of having a current account surplus. Specifically, Greece needs a change in payback terms or another bailout or it will default in August, if not May. I use the words "will default" imprecisely.
Via translation from La Vanguardia, please consider Bank Defaults Hit Record 13% in November . Delinquency ratio of banks, savings banks, cooperatives and credit institutions operating in Spain rose again in November to 13.08%, a level not seen since the data began to be collected, over 50 years
First, please consider the article Why Singapore’s Economy Is Heading For An Iceland-Style Meltdown . Like Iceland in its heyday, Singapore’s economic stability and vitality – on the surface at least – has made it the envy of the world at a time when most Western economies are languishing with feeble growth, and high rates of unemployment and poverty.