Yesterday we wrote about the US federal debt and the possibility of a potentially disastrous default were the problem go on unresolved. Today it is the turn of the EU and its financially troubled nations which are on the brink of economic collapse. Read the rest of this entry »

For the third time in as many days, Republican and Democrat lawmakers are holding a meeting to try to make a deal before August 2 that will reduce the US deficit and raise the debt ceiling with the aim to avoid defaulting and being able to pay their debts. Read the rest of this entry »

While Democrats and Republicans are discussing how to avoid US debt default and so far unwilling to move from their respective and entrenched positions, in what it seems to be turning into a dangerous chicken game, the country got today another set of bad news with new data that makes people question the optimistic idea of politicians about a bounce in the economy later this year. Read the rest of this entry »

Not everybody is going to be happy with the appointment of the current French Finance and Economics Minister Christine Lagarde as the next leader of the International Monetary Fund. An appointment that it is perceived by some as a loss to the developing world where it was expected the top position at the IMF would not go again to an European as up to now it has always been. Read the rest of this entry »

Never mind how politicians tried to spin it, the economic news just received in the US were not good. Last month, US employers hired fewer workers than expected , only 54 ,000 workers or third of the 150,000 increase that had been fore casted by Wall Street. Even the figures of March and April were revised to 39,000 fewer jobs created that it had been estimated. Read the rest of this entry »

It seems to be official now: French Finance Minister Christine Lagarde will seek the top job at the International Monetary Fund. The IMF has traditionally been run by a European, while the World Bank has been run by an American. Read the rest of this entry »

In the wake of the economic and financial crisis, it was time for the G20 summit. After the dismal results of the mid-term elections and a little in desperation over the gloomy economic situation, the administration of US President Barack Obama was expecting some positive changes. Read the rest of this entry »