Euro Crisis- BANG HEAD HERE Continue reading →

Egyptians stand in front of a wall with graffiti picturing the morphed faces of ousted president Hosni Mubarak and military ruler Hussein Tantawi and presidential candidates Amr Moussa and Ahmed Shafiq , near Cairo's central Tahrir square. Photograph Marco Longari/AFP/Getty Images 9.05am: "It feels like a very big day," says Ian Black in an audio update from Cairo.The preparations are being overseen fairly efficiently by the military. They are taking it [the elections] seriously, most people believe they don't want to hang on directly to power ... But there are big political and constitutional questions that need to be worked out, not least the powers of the new president ...There is a lot of stake, but a great sense of excitement. There's a headline in ... Continue reading →

Enlarge image Greek Euro Exit Kostas Tsironis/Bloomberg A customer withdraws cash from an ATM operated by the National Bank of Greece SA in Athens. A customer withdraws cash from an ATM operated by the National Bank of Greece SA in Athens. Photographer: Kostas Tsironis/Bloomberg Greece may have only a 46-hour window of opportunity should it need to plot a route out of the euro. That’s how much time the country’s leaders would probably have to enact any departure from the single currency while global markets are largely closed, from the end of trading in New York on a Friday to Monday’s market opening in Wellington, New Zealand, based on a synthesis of euro-exit scenarios from 21 economists, analysts and academics. Over the two days, leaders ... Continue reading →

IMF Says U.K. Needs More Monetary Stimulus OECD Sees Risk of Europe Crisis Hurting World Economy By Mark Deen and Jeff Black - 2012-05-22T09:05:24Z Kostas Tsironis/Bloomberg A woman asks for charity outside the headquarters of Greece's central bank in Athens. Enlarge image OECD Sees Risk of Spiraling Europe Crisis Hurting World Economy A visitor passes beneath a stock index sculpture hanging inside the foyer at the Athens Stock Exchange in Athens. A visitor passes beneath a stock index sculpture hanging inside the foyer at the Athens Stock Exchange in Athens. Photographer: Simon Dawson/Bloomberg The Organization for Economic Cooperation and Development said Europe’s debt crisis risks spiraling and seriously damaging the world economy. “The risk is increasing of a vicious circle, involving high and rising sovereign ... Continue reading →