Greece’s austerity program has been rejected by a large part of the public and there is a nationwide strike against the program,
according to the BBC.
The BBC is reporting that an Ex-IMF economist, Simon Johnson, believes
the UK should be added to the list of European countries that are at risk of insolvency.
The government of Portugal has voted against an austerity bill, according to an article titled “
Portugal debt vote likely to rattle markets” by The Globe & Mail.
News | Tagged austerity, democracy, formula, future going burden, GDP, Greece, legislation, Portugal, prediction, Spain, UK
The BBC is reporting a story titled “
Bank insurance levy gaining support at Davos“, noting that politicians and bankers have supported the idea for an insurance fund that would bail out banks instead of taxpayers.
The recent earthquake in Haiti is a disaster of epic proportions. It is a humanitarian disaster with an estimated 200,000 dead. It has also caused a catastrophic collapse in confidence in the Haitians’ ability to repay their debts. Haiti is now an insolvent sovereign, by way of natural disaster.
The BBC is reporting that
Venezuela is devaluing its currency. The devaluation of the bolivar is on an “official” exchange rate that can be used for certain “priority” imports.
According to the BBC,
Iceland’s president has vetoed a bank repayments bill. According to the article a quarter of the population of Iceland signed a petition to not sign the bill because they perceive the repayment to be a bailout of the failed Icelandic banks by taxpayers.