InfoAnda - Europe shames its major powers over debts

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Ireland, Britain reopen skies after new ash alert | 4 May 2010
US envoy to press Israel yet again on settlements | 16 September 2009
Samsung takes on Apple over value of phone features | | 11 August 2012

Courteney Cox and David Arquette separate | | 12 October 2010

Forum Views () Forum Replies ()

Read more with google mobile : Europe shames its major powers over debts

Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Photos Sitemap Europe shames its major powers over debts AFP - Thursday, March 18 Send IM Story Print British Finance Minister Alistair Darling talks with a journalist in January 2010. The European Union on Wednesday slammed overly "optimistic" growth assumptions masking bloated national budgets, with Britain in the firing line over "uncertainty" in its plans. BRUSSELS (AFP) - – The European Union accused its major powers on Wednesday of running away from bulging government deficits, after Germany warned that repeat eurozone offenders deserve expulsion from the bloc. EU budgetary watchdogs attacked overly "optimistic" growth assumptions masking bloated national budgets, with Britain firmly in the firing line over "uncertainty" in its spending plans. Britain, France, Germany, Italy and Spain were among the nations likely to fall short of reduction targets, as were most of the 14 EU nations whose fiscal health was under scrutiny, the European Commission said. Its charges against Britain stirred tempers in London, amid frenzied if unofficial general election campaigning. Germany, accused of having a budget strategy that was "not sufficient to bring the debt ratio back on a downward path," had earlier raised tensions among the 16 nations in the eurozone. Daggers are already drawn over the need to craft immediate contingency bailout rules because of financial chaos in Athens and fears for others including Portugal. German Chancellor Angela Merkel warned that Europe needs "a treaty framework in which it would even be possible as a last resort to exclude a country from the euro if it again and again breaks the conditions over the long-term." A firm EU line towards Greece appeared to be working, with the interest Athens has to pay to borrow falling to close to 6.0 percent, about a whole point lower than two weeks ago. But Athens renewed a warning that it could seek help from the International Monetary Fund if the EU did not do more than offer vague parameters for high-interest loans, only actionable in the event of imminent default. Britain's deficit level, at 12.7 percent of Gross Domestic Product or national output, is as high as that of Greece. Prime Minister Gordon Brown's government has pushed back spending curbs in the run-up to an election expected in early May. Finance Minister Alistair Darling on Tuesday described recommendations under the assessment, which had been leaked to British media, as "absolute madness." Darling told reporters in Brussels that the commission's suggestion of faster debt repayments would be like taking "just over 25 billion pounds (28 billion euros or 38 billion dollars) out of the economy." Having stayed out of the eurozone, he said London would "note with interest what they say" but "make our own judgments." Britain's state borrowing is expected to balloon to a record 178 billion pounds in the 2009/10 financial year, hit by multi-billion-pound banking bailouts and weak taxation revenues. EU finance ministers will study the commission's recommendations when they meet next month in Madrid. Speaking in the European parliament just after they were revealed, the IMF's managing director, France's Dominique Strauss-Kahn, said that countries should act now. "Our own advice is that the solution for the rather big public debt that most countries in Europe have to face now, is to try to solve it swiftly," he said. In a detailed assessment of commitments made to bring down post-recession excessive deficits, Brussels stressed that a majority of "growth assumptions" given by EU member states were "rather optimistic" and that broader economic conditions may be "distinctly less favourable" over the coming years than believed. Only Bulgaria and Estonia were on schedule to meet the EU's three-percent-of-GDP public deficit target within the allocated national timeframes, it said. France had a strategy that "does not leave any safety margin if economic developments turn out worse than projected," it warned. Spain and Italy were also thought likely to pull up short. Sweden emerged as an example of probity, with the commission praising the fact that "large surpluses in good times allowed fiscal policy to play an active role in the downturn." The others assessed were Austria, Belgium, Finland, Ireland, the Netherlands and Slovakia. Recommend Send IM Story Print News Search Top Stories Europe shames its major powers over debts Europe hammers deficit bingers Greece warns it might revive IMF rescue option Caracas weeps for its dead after bloody weekend EU criticises 'optimistic' national budgets More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Shell says will slash another 1,000 jobs by 2011 Kate Winslet and director husband Mendes split Post-heart attack fatalities higher in women than men: study Fed maintains low rates, upgrades view on US economy British ads banned over climate change claims More Most Viewed » Chile quake moved Earth's axis, shortened days: scientist Experts confirm asteroid wiped out the dinosaurs 'Britain's Fritzl' raped daughters for over 25yrs Florida killer whale to stay in park after deadly attack Researchers back cancer-fighting properties of papaya More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

Other News on Thursday, 18 March 2010
Israel dismisses calls for east Jerusalem settlement halt
Europe shames its major powers over debts
Documents detail US law enforcement use of social networks
Cuban police haul protesting Ladies in White away |
Iran ready for nuclear fuel exchange inside country
ETA blamed for French policeman's murder
Internet piracy taking big toll on jobs
Israel moves to ease diplomatic dispute with U.S
Embattled Berlusconi turns on charm ahead of polls
Yemen Shi'ite rebels free scores of prisoners |
Europe hammers deficit bingers
Ransom paid in Paris for British boy taken in Pakistan: ministry
Fear of surge in Internet crime ahead of S.Africa World Cup
Nigeria's acting leader dissolves cabinet |
Greece warns it might revive IMF rescue option
'Allah' Facebook Account Angers Thousands of Muslims
Airline crew face jail in Dubai over sexy texts
EU urges Georgia not to aggravate Russia tensions |
Hackers attacked Colombian vote count
Jordin Sparks Announces Spring Tour Dates
Caracas weeps for its dead after bloody weekend
EU criticises 'optimistic' national budgets
Libya welcomes Gaddafi compensation offer by Swiss |
E-commerce in protected wildlife booming
Shares Of Blockbuster Fall On Bankruptcy Worries
Fire at royal tomb prompts Uganda clash |
U.S. Producer Prices Drop In February
Dixie Chicks Joining The Eagles, Keith Urban On Tour
Two Key Democrats Announce Support For Healthcare Bill Ahead Of Final Vote
Somali pirates claim to have hijacked charcoal ship |
Fashion Lovers Can Check Out New Lauren Fashion Show Online
Ludacris Comes Out On Top With "Battle Of The Sexes" On Billboard
Cosmopolitan Magazine Launches Vietnam Edition
Authorities Investigate Racist Wal-Mart Announcement
Japan, detractors trade barbs on eve of tuna debate
SKorean women caught in abortion limbo
U.S. insurer targeted HIV patients to drop coverage
Pakistan court indicts five Americans with terrorism
U.S. missile strikes kill 9 militants in Pakistan
China envoy urges Iran to compromise, wary on sanctions
Cybersecurity bill introduced in Senate |
Trial of British teen killed in India delayed
Sprint expected to unveil HTC WiMax phone at CTIA |
Philippines presses Myanmar on Suu Kyi, election
Sprint to support Google's Nexus One smartphone |
US forces suspected in new hit-and-run in Japan
Internet piracy taking big toll on jobs |
Kyrgyz opposition protests rising utility tariffs
US, India ink deal to tap 'limitless' trade potential
PayPal plans to double staff in Asia by year's end
ADB chief sees strong Asian recovery in 2010
Malaysian broadcaster Astro to go private
London taxi parts to be made in China
IMF joins global calls for China to let yuan rise
Renault Nissan inaugurate first India plant
Irish party for St. Patrick's Day, at home and abroad
Watchmakers go back to basics as 'extravagance' ends
New Russian museum to mark bicentennial of Napoleon's defeat
New Japan Airlines chief eyes 2010 profitability
Angelina Jolie, Johnny Depp in Venice for film shoot
Lloyd Webber's Picasso to be sold after Nazi row settled
US-ENTERTAINMENT Summary
Black Eyed Peas, Shakira to front World Cup concert
Black Eyed Peas, Shakira to star at World Cup kick-off concert
Ralph Fiennes makes directorial debut in Serbia
Glee, CSI among TV shows with a conscience |
We're gonna rock around Westminster tonight |
U.S. troops leave border to Afghan boss accused of graft |
Obama's Jakarta home district sees shift in Islam |
Vitamin D Insufficiency Linked To Asthma In African-American Kids
Clinton in Moscow to push arms treaty, Middle East |
Harvard Professor Creates Inhalable Coffee
North Korea executes official for blunder: report |
Man Leaves Five-Week-Old Baby In The Oven Overnight, Blames Marijuana
Police Arrest Oklahoma Man For Watching Porn In Church, Stealing Laptops
Kazakhstan flood death toll rises to 40 |
Man Covered In Blood Walks Into Police Station, Confesses To Stabbing Neighbor
Assistant Secretary Blake Heads To India, Afghanistan, Pakistan And Belgium
Avalanche kills eight in Tajikistan |
Rihanna Hits #1 On Billboard Hot 100 With "Rude Boy"
Arizona Sweat Lodge Deaths Deemed Accidental
Obese Woman Strives To Be Bigger Person...Literally
News
Bolivian Priest Accused Of Molesting Illinois Boy Faints In Court
HTC says confident can defend against Apple suit |
News
Microsoft MSN China top exec to leave |
EA to offer complete online Woods game around Masters |
Google working with Intel, Sony on TV project: report |
New password-stealing virus targets Facebook |
FCC plans to announce broadband agenda |
News
News
TheStreet.com says it's being probed by SEC |
News
News
Man Leaves Five-Week-Old Baby In The Oven Overnight, Blames Marijuana
Police Arrest Oklahoma Man For Watching Porn In Church, Stealing Laptops
Fox and O'Brien talks still in preliminary stages |
Parking Lots With Solar Panel Roofs Charge Electric Bikes
Lacey Brown out, Urban survives on American Idol |
French Satellite Finds Exoplanet The Size Of Jupiter
Obese Woman Strives To Be Bigger Person...Literally
WWE aims for PPV knockout with WrestleMania |
BART Train Splits In Two
Bullock cancels trip amid talk of marriage trouble |
Thieves Haul Away $75 Million Prescription Drugs From Eli Lilly Warehouse
News
Antonio Banderas named U.N. Goodwill Ambassador |
French Railway Operator SNCF Accidentally Posts Disaster Scenario On Website
Record pot on offer at China's uni-sex Pro-Am |
A Minute With: Joan Jett on life as a Runaway |
News
Former Sunshine star Breslin yearns for horror |
News
US children get Playboy, not Bugs Bunny in cable mixup
US says base needed to defend Japan
News
News
All Haiti 'orphan' children reunited with parents
Key Al-Qaeda figure believed killed in Pakistan
News
News
US ambassador urges China cooperation on Iran
Obama's Jakarta home district sees shift in Islam
Australian Senate rejects Scientology inquiry call
Australia warns China over Rio Tinto court case
N.Korea official shot over currency chaos: report
News
News
Malaysian golfer gets $13,000 over croc attack
PayPal ties up with Chinese partner: report
US-TECH Summary
HTC says confident can defend against Apple suit
News
Google working with Intel, Sony on TV project: report
New password-stealing virus targets Facebook
News
TheStreet.com says it's being probed by SEC
24 hours of video uploaded to YouTube every minute
News
Darfur aid worker freed after 147-day kidnap ordeal
Greek PM warns could resort to IMF
Google denied Nexus phone trademark: report
Microsoft MSN China top exec to leave
U.S. sanctions Hamas bank, TV station in Gaza |
Ashton, in Gaza, condemns violence after fatal rocket
Iraq election race neck-and-neck: updated results
Yemen to free rebel prisoners, clashes hit south |
Rocket kills 1 in Israel while Ashton in Gaza
Thai protesters vow prolonged rally to force elections |
One killed as Gaza rocket hits Israel: army radio
Iran bails top reformist, film maker: reports
Karzai gives more power to Afghan anti-graft body |
Authorities Call Off Search For Killer Wolves
The Arab World Responds to the U.S.-Israel 'Crisis'
U.S.-funded Detachment 88, elite of Indonesia security |
Siemens to revamp IT unit, cut 4,200 jobs
Girl Critically Injured After Beating At Florida Middle School
Rocket kills 1 in Israel while EU top diplomat in Gaza |
Fifth Official Resigns From NY Gov. Paterson's Administration
Study shows Aussie dingo may be world's oldest dog
Pennsylvania Senator Leach (D): No Shackles For Inmates Giving Birth
Donors plan to put up $3.8 billion for Haiti rebuilding |
Prison Sources Say Madoff Beaten By Inmate Over Money Dispute
Omega 3 supplement targets bowel cancer risk: study
MySpace User's Data Up For Sale On Web
Population surge outstrips efforts to eradicate slums
"Parks And Recreation" Production Date Moving Up For Amy Poehler's Pregnancy
British Islamist backs al-Qaida on Indonesia visit
Episcopalians Approve Election Of Second Gay Bishop
China lashes out at US resolution on Falungong
Cornell Officials Concerned About Surge In Suicide Rates
Crowded bus plunges into Nepal river, killing 24
'Jihad Jane' due in federal court in Philadelphia
Thai protesters vow prolonged rally to force elections
China defends itself against Britain rights report
Calif. considers smoking ban at all state parks
Report: North Korean executed over currency reform
Some Fargo residents refuse to move despite floods
North Korea executes official for blunder
Myanmar deports jailed Burmese-American activist
Serbia thanks nations for not recognizing Kosovo
Kremlin picks site for Russian Silicon Valley |
Cybersecurity needs global rules: British lawmakers |
IBM Japan to appeal tax assessment
PayPal to tie up with Chinese partner
China Mobile says 2009 profit up 2.3 percent
S.Korean assembly approves renewable energy bill-govt
Nissan to make electric vehicle in UK
News
News
China orders safety checks on Boeing 737s
Asthma relief in Pakistan salt mine
WWE aims for PPV knockout with WrestleMania
Czech human rights film festival goes East to Bucharest
Lido's leggy 'Bluebell Girls' fete leggiest of all
Buddhist founder Siddhartha inspires Paris Opera ballet
Indian cinema looks to up game, hit foreign jackpot
British youngsters prefer online advice to parents |
Lacey Brown out, Urban survives on "American Idol"
Fox and O'Brien talks still in preliminary stages
Universal Studios Singapore courts 8 for lucky launch |
A Minute With: Joan Jett on life as a "Runaway"
Singer's musical journey reshaping Portugal's fado |
Tourist held by Australian police in tea mix-up
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01