Economics

Italy's Debt Crisis Effects on a Global Scale
By Alex Sellen
November 10, 2011 - 3:50pm
With the third largest national debt in the world, Italy's economic struggles could cause another international recession

With a deficit more than the entire country of Italy's fiscal output, drastic measures will need to be taken in order to restore a sound economic standing.

No country is particularly concerned about jumping to the bailout aid of Italy, mainly due to the economic instability and flaw which is currently apparent.

European Union Unveils Debt Crisis Plan
By Olivia Dibs
October 27, 2011 - 1:41pm
New plan hopes to solve economic problems in Greece

Early this morning, European Union leaders announced a new economic plan to help reduce the debt crisis that they are facing, reported The New York Times. The announcement came from a conference in Brussels after EU leaders won an agreement with banks to take a fifty percent loss on the value their Greek debt.

Protests Continue in Athens
By Angel Cruz
October 20, 2011 - 5:27pm
Demonstrations are being held outside Parliament to protest the austerity cuts for foreign aid

A second day of demonstrations continued in Athens as the Greek parliament votes on austerity measures. Unless the austerity measures are passed Greece will not receive crucial foreign aid. Without this aid the country will have to default on its debts and send the Euro into a further recession.