The self-proclaimed government in Kiev is reportedly planning to cut pensions by 50 percent as part of unprecedented austerity measures to save Ukraine from default. With an “empty treasury”, reduction of payments might take place in March.
Nowhere was the unedifying hubris of the bankster classes more obvious than in Swiss real estate. Not the private banking halls off Zurich’s Paradeplatz but rather their office portfolio in the heart of the USA.
European lawmakers are calling into question the ability of the Troika to effectively deal with the crisis, and many are attacking its methods. An investigation report due in April will look at the handling of the Greek sovereign debt debacle.
The United States Department of Health and Human Services program that provides care to first-responders injured during the September 11, 2001 terrorist attacks will now extend coverage to victims with four types of cancer previously not considered.
The terrible impact that the ongoing floods have had over large parts of Britain - and the government response to the disaster - tells us much about the political system we now live under and in whose interests our government acts.
The US House of Representatives has agreed to raise the government’s borrowing cap until March 2015, without specifying the exact limit. It's a huge shift as the bill was approved for the first time in three years with no conditions from Republicans.
The mayor of Chicago, Illinois is attempting to issue $900 million in bonds to save the fiscally-faltering Windy City, but a big chunk of that will likely be spent settling police misconduct cases waged against local law enforcement.
Debt created by the Sochi 2014 Olympics will be "manageable" for the Russian Krasnodar region, Fitch Ratings wrote in a note Wednesday. Financial risk for the region will be reduced by heavy government funding and high return on investment.
On Friday, America’s debt limit extension expires and Congress is expected to renew its legal $16.7 trillion debt cap. If the debt limit isn’t raised, the US could burn through its cash as soon as February 28, Secretary Treasurer Jacob Lew warns.
Despite some efforts to keep the findings private, a new report released by a government watchdog group this week found that Afghanistan cannot be trusted to properly spend the millions of dollars it receives in aid from the United States.
Moscow says it would postpone further payments of the promised $15 billion loan to Kiev and is waiting to see the direction of the newly formed government, according to President Putin and Prime Minister Medvedev.