#debt-crisis

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The Guardian view on development's paradox: the rich benefit more than the poor | Editorial

Rich countries are profiting immensely from loan repayments from developing nations, perpetuating a cycle of debt and exploitation.
The global economy remains skewed against poorer nations, which struggle to navigate a system favoring wealthy countries' interests.

REVEALED: The London boroughs with the highest unpaid council tax

Hackney ranks fifth nationally in unpaid council tax, reflecting a larger crisis across UK councils.
#greece

Costas Simitis, 2-Time Prime Minister of Greece, Dies at 88

Simitis' leadership influenced Greece's euro adoption and Olympic preparations, yet also set the stage for future economic challenges.

Greece and Germany: an economic partnership with potential DW 09/06/2024

Germany's honored country status reflects Greece's remarkable economic recovery and improved relations since the austerity crisis.

Costas Simitis, 2-Time Prime Minister of Greece, Dies at 88

Simitis' leadership influenced Greece's euro adoption and Olympic preparations, yet also set the stage for future economic challenges.

Greece and Germany: an economic partnership with potential DW 09/06/2024

Germany's honored country status reflects Greece's remarkable economic recovery and improved relations since the austerity crisis.
moregreece

ECB faces tough task after flip in fortunes for eurozone economies

The eurozone's economic landscape is shifting, with southern nations expected to outperform northern giants in growth.
#government-spending

Washington pols trim their 'Christmas tree' with outrageous tax-funded goodies

Washington politics habitually lead to wasteful spending, perpetuating a $36 trillion debt crisis.

A Weak, Weak Man': Rand Paul Obliterates Speaker Johnson Says His Budget Bill Will Help Cause the U.S. Dollar to Fail

Rand Paul strongly criticized Speaker Mike Johnson for supporting a spending bill filled with wasteful spending, calling him weak.

Washington pols trim their 'Christmas tree' with outrageous tax-funded goodies

Washington politics habitually lead to wasteful spending, perpetuating a $36 trillion debt crisis.

A Weak, Weak Man': Rand Paul Obliterates Speaker Johnson Says His Budget Bill Will Help Cause the U.S. Dollar to Fail

Rand Paul strongly criticized Speaker Mike Johnson for supporting a spending bill filled with wasteful spending, calling him weak.
moregovernment-spending
#global-south

The Global South's poor should not be subsidising the IMF

The IMF is worsening the global polycrisis by imposing unnecessary surcharges on indebted countries.

The Global South Is on the Brink of a Disastrous Debt Crisis. Reform Is Urgent.

Countries in the Global South are facing an unprecedented debt crisis, exacerbated by pandemic impacts and political challenges.

The Global South's poor should not be subsidising the IMF

The IMF is worsening the global polycrisis by imposing unnecessary surcharges on indebted countries.

The Global South Is on the Brink of a Disastrous Debt Crisis. Reform Is Urgent.

Countries in the Global South are facing an unprecedented debt crisis, exacerbated by pandemic impacts and political challenges.
moreglobal-south
from Bitcoin Magazine - Bitcoin News, Articles and Expert Insights
1 month ago

Ray Dalio Prefers Bitcoin Over Bonds

Dalio advocates for investing in bitcoin and gold instead of debt assets due to unsustainable global indebtedness.
#europe-economy

EU's big economies must reform as Donald Trump's tariffs loom | Kenneth Rogoff

Europe's economic stagnation stems from excessive debt and insufficient reforms, not merely from a lack of stimulus measures.

European countries, trailing U.S. economy, hike taxes and trim spending

Europe's biggest economies are struggling with sluggish growth and high debt, impacting their annual budgets.

EU's big economies must reform as Donald Trump's tariffs loom | Kenneth Rogoff

Europe's economic stagnation stems from excessive debt and insufficient reforms, not merely from a lack of stimulus measures.

European countries, trailing U.S. economy, hike taxes and trim spending

Europe's biggest economies are struggling with sluggish growth and high debt, impacting their annual budgets.
moreeurope-economy

The Cop29 agreement failed island states. Now the UN's top court must act on climate harm | Ralph Regenvanu

The Baku agreement promises $300bn annually for climate finance but is insufficient compared to the $1.3tn needed by 2030.
#france

Political Uncertainty and Budget Reality Put France in a Financial Vise

France's financial troubles are worsening, with significant debt and a fragile government hindered by political divisions.

France Unveils Tough Austerity Budget to Mend Its Finances

France's government is implementing austerity measures, aiming to save 60 billion euros to address a significant deficit and debt issue.

France has the highest cannabis consumption in Europe. It's high time to tax it | Alexander Hurst

France's public finances are challenged by high debt, significant interest payments, and a budget deficit above EU limits, prompting potential policy changes.

Political Uncertainty and Budget Reality Put France in a Financial Vise

France's financial troubles are worsening, with significant debt and a fragile government hindered by political divisions.

France Unveils Tough Austerity Budget to Mend Its Finances

France's government is implementing austerity measures, aiming to save 60 billion euros to address a significant deficit and debt issue.

France has the highest cannabis consumption in Europe. It's high time to tax it | Alexander Hurst

France's public finances are challenged by high debt, significant interest payments, and a budget deficit above EU limits, prompting potential policy changes.
morefrance
#bankruptcy

Spirit Airlines is not going bankrupt . . . yet

Spirit Airlines is not filing for bankruptcy currently but faces significant financial challenges and debt obligations.
The airline's stock and operations are heavily impacted by a recent failed merger and ongoing debt crisis.

After years of rapid growth, California's almond industry struggles amid low prices

Almond industry facing a slump due to dropping prices
Investor groups in the almond industry struggling with high debts

Spirit Airlines is not going bankrupt . . . yet

Spirit Airlines is not filing for bankruptcy currently but faces significant financial challenges and debt obligations.
The airline's stock and operations are heavily impacted by a recent failed merger and ongoing debt crisis.

After years of rapid growth, California's almond industry struggles amid low prices

Almond industry facing a slump due to dropping prices
Investor groups in the almond industry struggling with high debts
morebankruptcy
#africa

Africa's Debt Crisis Has Catastrophic Implications' for the World

Governments in Africa are facing extreme challenges in balancing debt repayment with essential public services amidst ongoing civil unrest.

Africa's debt crisis: The need for multilateral solutions DW 10/18/2024

Many African countries are facing severe debt crises due to a combination of global economic factors, worsening governance, and local crises.
Zambia and Ghana are emblematic of a wider trend of increasing national debt across Africa, exacerbated by COVID-19 and rising global costs.

Behind the Unrest in Kenya, a Staggering and Painful National Debt

Kenya's protests were triggered by tax increases, but the root cause is the country's immense debt crisis affecting many African nations.

Africa's Debt Crisis Has Catastrophic Implications' for the World

Governments in Africa are facing extreme challenges in balancing debt repayment with essential public services amidst ongoing civil unrest.

Africa's debt crisis: The need for multilateral solutions DW 10/18/2024

Many African countries are facing severe debt crises due to a combination of global economic factors, worsening governance, and local crises.
Zambia and Ghana are emblematic of a wider trend of increasing national debt across Africa, exacerbated by COVID-19 and rising global costs.

Behind the Unrest in Kenya, a Staggering and Painful National Debt

Kenya's protests were triggered by tax increases, but the root cause is the country's immense debt crisis affecting many African nations.
moreafrica
#world-bank

Poorest countries in worst financial shape since 2006, World Bank says

Low-income countries are economically worse off post-COVID-19, requiring significant investment to meet development goals and recover from deepening debts.

World Bank: Poorest countries facing worst debt since 2006 DW 10/14/2024

The 26 poorest nations are experiencing the highest debt levels in 18 years, worsened by climate change and conflict.

Poorest countries in worst financial shape since 2006, World Bank says

Low-income countries are economically worse off post-COVID-19, requiring significant investment to meet development goals and recover from deepening debts.

World Bank: Poorest countries facing worst debt since 2006 DW 10/14/2024

The 26 poorest nations are experiencing the highest debt levels in 18 years, worsened by climate change and conflict.
moreworld-bank

Public Enemy review anatomy of Greece's economic crisis framed as epic tragedy

The Greek debt crisis can be seen as a modern tragedy influenced by historical context, driven by external forces undermining local democracy.

For me, there was no other choice': inside the global illegal organ trade

Yonas sacrificed his kidney to alleviate family hardships in Eritrea, driven by desperation due to debt and dire family circumstances.

Kenya Protests Against IMF-Backed Reforms Reflect Severity of Global Debt Crisis

Protests against IMF-backed reforms in Kenya point to deeper issues of global debt and the effectiveness of multilateral lending.

Opinion | The China Hangover Is Here

Venezuela's reliance on China for economic support initially seemed beneficial, but ultimately led to severe economic decline and widespread humanitarian issues.
from Business Insider
5 months ago

Rising household debt and shrinking incomes are setting the stage for a recession, top economist says

US economy may be heading towards a recession due to rising debt levels and shrinking incomes among American households.

They Need Us More Than We Need Them-The Power of Debtor Organizing - Non Profit News | Nonprofit Quarterly

The American dream is now escaping debt rather than owning a house.

After various degrees and a brain injury, I owe $150,000 in student loans. The lawsuits and election only make it worse.

Shanna Hayes, a special education teacher, is struggling with over $150,000 in student loan debt and facing challenges with interest, credit score, and repayment uncertainties.
#economic-impact

Takeaways from AP analysis on the rise of world's debt-laden 'zombie' companies

Zombie companies with unsustainable debt levels are increasing worldwide, posing a significant risk of bankruptcy and economic impact.

Developing countries face worst debt crisis in history, study shows

Developing countries are facing a severe debt crisis, with a significant portion of their budgets allocated to debt servicing.

Takeaways from AP analysis on the rise of world's debt-laden 'zombie' companies

Zombie companies with unsustainable debt levels are increasing worldwide, posing a significant risk of bankruptcy and economic impact.

Developing countries face worst debt crisis in history, study shows

Developing countries are facing a severe debt crisis, with a significant portion of their budgets allocated to debt servicing.
moreeconomic-impact

Can Biden Become a Pugilist for Populism?

Perception of the economy does not align with traditional economic indicators.

Looming election takes centre stage in Budget week

Theater surrounding budget announcements involves intentional leaks and strategic floats to test reactions and unsettle opponents.
The UK economy is struggling with stagnant growth, recession, high tax rates, and increased debt leading to challenges for tax burdens and public services.

Zombies: Ranks of world's most debt-hobbled companies are soaring - and not all will survive

The number of zombie companies, struggling with excessive debt, has surged globally, posing a significant risk for financial markets and the economy.

Inflation's Next Victim Will Be Your Freedom | Entrepreneur

Social mobility was once a dream with the American Dream, but now faces constraints reminiscent of the past.

Protectionism is slowing growth and entrenching poverty, says World Bank

Protectionism leading to slower global growth, hindering poverty eradication.
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