Showing posts with label crisis. Show all posts
Showing posts with label crisis. Show all posts

World Bank chief warns against the crisis


17 April 2011 last updated at 08: 54 GMT Mr Zoellick said the world should not forget that the lesson of last financial CrisisThe has warned President of the World Bank, that the world "a strike away from a full blown crisis".

Robert Zoellick cited as the greatest threat to poor countries, the risk "a generation" rising food prices.

He was speaking in Washington at the end of the spring meetings of the World Bank and International Monetary Fund.

In the meantime G20 pledged finance chiefs, who met in Washington, financial support for new Governments in the Middle East and North Africa to help.

Mr Zoellick said that this support was vital.

"The crisis in the Middle East and North Africa underlines how we must the conclusions of our latest world development report into practice." The report highlighted the importance of the safety of citizens, justice and jobs, "he said."

He demanded the World Bank also quickly Act, support to reforms in the region.

"Waiting for the situation stabilize will mean lost opportunities." "Revolutionary moments no winning hand is the status quo."

The Washington meeting, turbulence in the Middle East, volatile oil prices and high unemployment also came to the language.

IMF chief Dominique Strauss-Kahn raised special concerns about high unemployment among young people.

"It is probably too much to say that there is a jobless recovery, but it certainly is a restore with not enough jobs," he said.

He said "in particular because of the youth unemployment... the danger is now, that this will be transformed in a life sentence, and there is the possibility of a lost generation".

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VIDEO: The Bank of Japan is in the midst of crisis

6 April 2011 last updated at 04: 21 GMT-help
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Portugal crisis cloud EU Summit

24 March 2011 last updated at 16: 57 GMT Portuguese Prime Minister Jose Socrates announcing his resignation (23 March 2011) the Portuguese Prime Minister warned "very serious consequences" EU leaders are grappling with the a new threat with eurozone after Portugal of Parliament rejected an austerity budget and PM José of Sócrates resigned.

The vote means an international Bail-Out, similar to that of Greece and the Irish Republic in the last year is now accepted far more likely.

Socrates said opposition parties "by the Government the conditions to govern had removed".

EU Summit in Brussels aimed at combating the eurozone debt crisis.

Pressure

Although the situation in Libya and the recent events in Tunisia and Egypt are high on the agenda, the Summit has the moment been billed, which adopted a "comprehensive package" stabilisation of the euro-zone EU-27.

As part of the deal would the lending capacity of the European financial stability facility (EFSF) of 250bn euro (£ 218bn; $354bn) euro increase on 440bn. The EFSF will be replaced by a permanent European stability mechanism in 2013.

But EU governments their national contributions to the augmented have nailed not yet down, EFSF and Portugal's uncertain that policy hampered unanimity.

Pressure on Portugal economy more on Thursday as the interest of the country's ten-year bonds rose to a new high of 7.6%.

Portugal faces bond repayments of 4.3bn euro on 15 April and in a national address on Wednesday night, Socrates warned that the political crisis would have "Very serious consequences for the trust must to enjoy Portugal institutions and financial markets".

The rating agency Fitch downgraded Portugal's sovereign credit rating from A + to A - on Thursday.

Belgian police drove ahead of the Summit, again a group of demonstrators with water cannon and tear gas close to the venue, while thousands of other people peacefully protested against severe cuts.

'Brave'

Belgian Finance Minister Didier Reynders said that Portugal partners were ready to help, if desired.

Read the main current lending capacity of 250bn 440bn euros euro in the European financial stability facility (EFSF) permanent European stability mechanism (ESM) to be launched in 2013 with 500bn-euro loans of CapacityCountries arguing about their contributions "I always thought that it would be useful", Help organize raised werdeneinfach because the [Portugal allows] pay it on his debt to the undergoing restructuring, less interest and therefore make less, sometimes stressful ones, calls on [his] people, "he said on Thursday in Brussels."

"If Portugal asks, we to intervene." "For this to happen it must a plan to his finances back to better health and a request to the European Fund unlock will bring."

A Bail-Out for Portugal of zurückgeschnitten euro as a whole could, analysts say.

In a speech of the German Parliament (Bundestag) on Wednesday, German Chancellor Angela Merkel said it "regrettable" was that Portuguese had rejected members collecting Government proposed package of spending cuts and tax is.

Mr Sokrates praised efforts as "courageous", Mrs Merkel said: "what we need is a consistent path of consolidation and reform." "Has shown yesterday, how difficult this is."

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the history of this [Libya] crisis is that individual leaders have been, during the EU fight, to your voice "
end quote Gavin Hewitt BBC Europe caretaker role all five Portuguese opposition parties rejected austerity measures - the Government fourth set of proposals in a year, argue they went too far."

Although he stepped down on Wednesday, Socrates, the Summit is visited as a caretaker Prime Minister. A snap election is today, but the decision will be made by Portuguese President Anibal Cavaco Silva.

Lisbon has argued that his situation of Greece and the Irish Republic - different both have agreed to Bail-Outs of the European Union and the International Monetary Fund.

It says that its are lower than those Nations, deficit and debt, that it has suffered no bubble in the real estate prices and the banks are sound.

Arrival at the Summit on Thursday the new Irish Prime Minister, Enda Kenny, said he would on the results of stress tests on Irish banks waits before renegotiation of the conditions of the 85bn euro granted Bail-Out to Dublin in December. The results are expected on 31 March.

Dublin EU IMF requested help after pouring billions of euros in indebted Irish banks, but it will reduce the interest rate on the Bail-Out.

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Japan car parts crisis is damaging GM

17 March 2011 last updated at 20: 23 GMT GMC Canyon GM says it has already produced enough pick-ups, clients supply for more than two months U.S. carmaker General Motors (GM) a factory because of parts caused by the crisis in Japan has closed.

The automotive giant customers should not be visible. The automotive giant said it already enough, Chevrolet Colorado and GMC Canyon pick-up truck it about 70 days has produced to the last.

US rivals Ford and Chrysler are at least not yet affected by parts deficiency.

But Toyota and Subaru production in the United States portions have checked to get.

The Japanese automaker Nissan said that it had resumed passenger car production in Japan.

In Europe, GM, Opel and Vauxhall has separately, appointed a new Managing Director for the brand.

Karl-Friedrich Stracke will replace Nick Reilly, who will remain head of General Motors Europe.

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they are all facing parts lack - if not now, then probably very soon "
end quote image of Jorn Madslien Jorn Madslien business reporter, BBC news veteran automotive executive Mr Reilly as is maintained the Cadillac and the Chevrolet brand in Europe."

Mr. Reilly is also GM Europe's Supervisory Board Chairman.

"The European market and our European operations are important, General Motors," said Dan Akerson, Chief Executive of GM.

"These steps to ensure that we have the best leadership as we towards growth and profitability continue."

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