Word: debt
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...recent decades, every Greek government has entered office vowing to clean house and crack down on the twin scourges of tax evasion and corruption. But during the years of plenty there was little external pressure for the country to mend its ways. Now, with Greece's public debt ballooning out of control and Greece accused of putting the integrity of the euro at risk, the stakes are higher. Greece must cut spending and raise more revenue or risk defaulting on its debt. (See pictures of the global financial crisis...
Rogoff—whom Campbell introduced as one of the economists on the panel who accurately forecasted the current economic crisis—discussed the lack of proper monitoring of mass short-term debt...
...euro and yen top the list of must-watch "funding" currencies for 2010, but that prognosis might change as the year unfolds. Like Greece, both Britain and the U.S. have dangerously high levels of outstanding debt, largely due to stimulus spending and bailouts intended to get their respective economies back on their feet. While this might spell trouble for the dollar and British pound, it's a looming opportunity for those who ply the carry trade...
Almost exactly 100 years ago, Albert Einstein, Marie Curie, Max Planck and other dazzling minds of the era gathered at the Solvay Library in Brussels for a major physics conference. Meeting in the same neo-classical library on Thursday to find an urgent solution to Greece's debt crisis and save the imperiled euro, European Union leaders would probably have relished the chance to connect with those bygone eggheads for inspiration. But no matter - their decision, as it turns out, was a no-brainer. In an emphatic message to the speculators around the world who are betting billions...
...importance of projecting confidence to assure shaky markets - he has a master's degree in applied economics and worked for the Belgian Central Bank before going into politics. And as Belgium's Budget Minister in the 1990s, he was instrumental in helping to drive the country's public debt down from a peak of 135% of GDP in 1993 to about 90% today...