Economic News for week ending 2-15-9
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The A-O Report
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Weekly News Round Up
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Of
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Economic News
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For
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2-15-9
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European Banks Hold
$24 Trillion in Toxic Assets
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Ireland Takes Over Banks
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UK Bankers Fear Riots
And Civil Unrest
Jon Moulton, the private equity chief, warned a City lunch this week that he feared serious civil unrest. There was, he said, a 25 per cent chance of one of the 15 member countries of the eurozone pulling out of the currency club. That, he said, would be a catastrophic shock leading to a “far greater financial crisis” than the current one.
The mind boggles at a financial crisis far worse than the current one. Is such a thing possible? Even with this one, it may already be too late to prevent social unrest, especially in Britain, which is tipped to be one of the worst-hit countries economically. More details, LINK HERE.
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Trends Forecaster Sees 2009
As Violent Year in USA
Also sees US Tax Revolt
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More Protests in Germany
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Europe Set For Deep Recession
Europe's economy is facing its worst recession in at least two decades, economists warned today, after figures showed that the region's economy contracted 1.5pc in the final three months of last year. More details, LINK HERE.
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US Congress Passes Stimulus Bill
The US Congress passed an emergency economic stimulus package late Friday night and sent the legislation to the President for his signature. The speding bill provides $787 billion dollars to help jump start the American economy. More details, LINK HERE.
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Potential Trade War Looms
G-7 Tries to Fight Protectionism
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World Oil Demand To Fall
At Fastest Rate Since 1982
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