Allama Muhmmad Iqbal Words, without power, is mere philosophy.
Quaid-e-Azam Expect the best, Prepare for the worst...
Germany’s Constitutional Court will keep Europe waiting until Sept. 12 for its verdict on whether the new tools for fighting the euro zone debt crisis comply with German law or violate parliament’s right to decide on national budget issues. Resisting pressure from politicians and markets for a swift approval of the permanent bailout scheme (European […]
The latest from the West is that Spain has agreed to receive a bail-out assistance plan from the Euro zone ministers in tune of $125 Billion. However, the Spanish government is expected to release the exact amount needed by June 21. The mere news of the acceptance of bail-out plan has brought smiles on the […]
The US stock market also showed a promising start to the current week after the news received from across the ocean. Though the trading is still to commence on Monday, the futures showed a prosperity of 1 percent. Dow Jones industrial average futures gained 130 points. Nasdaq composite futures rose 28.50 points. S&P 500 futures […]
Soon after the 2008 crisis that hit the West the most, Europe went on a shopping spree, borrowing money from banks in huge sums. Now the bad debts are haunting the whole continent like the notion of Armageddon. Spain is not an exception and is on the verge of collapse if the European Union does […]
The solution to the above is bail-out, undoubtedly but it itself has two-fold problem that is fending the central government and sovereign governments of the countries. First, EU wants to instil the money into the banking sector of the countries like Spain but it is not only Spain that is in the oblivion. Countries like […]
Asian markets mostly fell Friday and the euro sat at near-two year lows as weak European data added to pessimism after this week’s disappointing summit on saving Greece from leaving the euro zone. Positive leads from Wall Street and European markets were unable to provide a lift as Asian indexes gave up the gains made […]
British Prime Minister David Cameron and President of European Commission have said that Greece should not be ousted of the Euro British Prime Minister, David Cameron , said on Wednesday, May 16 that the euro area should act quickly to resolve its debt crisis or see a possible dissolution. "The euro zone needs to choose . If the euro zone will continue as it is, […]
The euro was stuck at four-month lows against the dollar in Asian trade Wednesday amid fears over political uncertainty in debt-ridden Greece and its wider impact across the 17-nation euro zone. The euro bought $1.2715 in Tokyo afternoon trade, compared with $1.2728 in New York late Tuesday, and treading its lowest levels since mid-January. The […]
Beautiful Greece is in a gloomy mood as the citizens of the Austerity-weary country prepare to go to the polls on Sunday, with campaigning taking place against a backdrop of public protest. Many have blamed politicians for the painful austerity that has slashed pensions and wages. Big Socialist and Conservative parties are bearing the brunt […]
Germany on Friday swore in new president Joachim Gauck, who warned the government that it had a historical obligation to help Europe’s weakest members as they struggle to stay financially afloat. Gauck, the first head of state from the former communist east, delivered the impassioned appeal to members of parliament and Chancellor Angela Merkel in […]
IMF chief Christine Lagarde said Sunday measures taken to fight financial woes in Europe and the US were starting to pay off, in a cautiously upbeat assessment of the global economy. But Lagarde – in Beijing for a two-day trip to attend a high profile forum on China’s development and hold meetings with her economic […]
Greece has reached a tentative agreement on new austerity cuts demanded by creditors to release a 130-billion-euro ($173 billion) bailout, hours before a crucial meeting of finance ministers in Brussels, Prime Minister Lucas Papademos‘ office said Thursday. A spokeswoman for the prime minister said the agreement with the majority Socialists and the conservatives will allow […]
