Goldman Sachs Chief European Economist Huw Pill exposes a terrible irony about the eurozone in a video filmed this month: at the signing of the Maastricht Treaty, both those who loved and hated the prospect of a European Monetary Union actually thought that the euro would see a crisis that would test its structural basis eventually.
The key difference between their viewpoints consisted of their approval or rejection of the progress that [...]
China’s first stealth plane spotted on test runs, making China one of three nations with stealth jet technology
Critics claim this is a rip-off of America’s F-22 jets, which cost $66.7billion to develop
Flying over the skies of Chengdu in southwest China, the Chinese’s latest stealth plane – the J-20 Might Dragon – is a testament to China’s growing prowess in military technology.
The debut flight of the plane may serve as a [...]
Property purchased by mystery buyer
Apartment will offer incredible views across the city
Tower will become tallest residential block in New York when it is completed next year
The economic situation maybe precarious, but someone still has a pocket deep enough to splash out at least $90million on an apartment they haven’t even seen.
A ‘recognisable’ buyer has snapped up a penthouse on the 89th and 90th floor of the under-construction One57 tower block [...]
by FMX Connect
Too Big to Fail: Championing The Slow Decline
The recent implosion of MF Global has reignited the debate over Too Big to Fail (TBTF) and the adequacy of U.S. regulatory safeguards. It has also contributed to a broader decline in investor sentiment, many of whom believe the market structure does not afford them sufficient protection and fair competition. Many MF Global clients still have assets frozen and even if they [...]
WASHINGTON (AP) — The Obama administration says it is unable to go forward with a major program in the president’s signature health care overhaul law – a new long-term care insurance plan.
Officials said Friday the long-term care program has critical design flaws that can’t be fixed to make it financially self-sustaining.
Health and Human Services Secretary Kathleen Sebelius told Congress in [...]
From Bill Mitchell:
“Over the last week or so I have been in Europe and talking to all sorts of people. In the streets the decay is clear and I am in a relatively rich part of Europe (Maastricht). Unsold properties are multiplying and the there are lots of shopping space vacant in the main centres. It is very apparent to me but when I ask [...]