Economy  (Page 8)

Restrictions, price hikes mar Greek bank reopenings

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Posted by  ▪  Monday, July 20, 2015 at 4:15pm 7/20/2015 at 4:15pm

For the first time in three weeks, Greek banks opened for business; but for account holders, that renewed access to cash comes at a price.

Although doors opened and ATMs were stocked, Greeks looking to cash out were met with the continuation of withdrawal restrictions of 60 euros per day; the...

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Anti-Austerity Violence Erupts in Greece

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Posted by  ▪  Thursday, July 16, 2015 at 2:00pm 7/16/2015 at 2:00pm

After a full month of drama, Greece and its creditors finally agreed on a multi-billion dollar bailout package. One of the bailout’s most controversial conditions is a list of new austerity measures, and we all know how many Greeks feel about those.

Anti-austerity violence broke out on the streets of Athens...

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Greece to stay in Eurozone, but at a cost (Updated)

https://twitter.com/TeamVaroufakis/status/617750910278725633
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Posted by  ▪  Monday, July 13, 2015 at 1:15pm 7/13/2015 at 1:15pm
https://twitter.com/TeamVaroufakis/status/617750910278725633

After 22 hours of fierce negotiating, the Eurozone summit has come up with a deal that will keep Greece in the Eurozone in exchange for both budget cuts and tax hikes.

For those who oppose austerity and “euro”centric economics, the deal is a huge blow. Europe has agreed to advance Greece...

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The Chinese Stock Market Is In Big Trouble

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Posted by  ▪  Tuesday, July 7, 2015 at 3:45pm 7/7/2015 at 3:45pm

Things are bad in both of China’s big exchanges; both the Shanghai and Shenzen are seeing companies halting their trading on both:

Over 700 Chinese companies have halted trading to “self preserve,” according to...

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Greek Debt Crisis Makes Waves in US Markets

https://twitter.com/TeamVaroufakis/status/617750910278725633
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Posted by  ▪  Monday, July 6, 2015 at 2:54pm 7/6/2015 at 2:54pm
https://twitter.com/TeamVaroufakis/status/617750910278725633

US stock prices sank into the negative this morning in the wake of Greece’s landslide “no” vote rejecting a referendum that would have created yet a new layer in the flailing country’s creditor-debtor relationship with more stable Eurozone countries.

In...

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Greece misses IMF deadline, signals impending default

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Posted by  ▪  Wednesday, July 1, 2015 at 11:30am 7/1/2015 at 11:30am

What was once considered unthinkable has now happened. Having missed the June 30th deadline for payment on its debt, the country of Greece has effectively defaulted. This is going to have a considerable effect on the

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Illinois government deadlocked, shutdown a possibility

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Posted by  ▪  Tuesday, June 30, 2015 at 1:30pm 6/30/2015 at 1:30pm

Illinois’ new budget year starts tomorrow, and unless Republicans and Democrats can come to an agreement on fiscal policy, the state will kick things off without the ability to pay the bills.

Illinois has a reputation for being largely rural, yet bafflingly Democratic. The Chicago machine—not those languishing in my old...

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Greece and Eurozone Talks Stall as Deadline Looms

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Posted by  ▪  Saturday, June 27, 2015 at 4:00pm 6/27/2015 at 4:00pm

Greece and the Eurozone have been unable to reach an agreement ahead of a bailout deadline which quickly approaches on June 30th. If negotiations fail, Greece could leave the European Union and ultimately face economic collapse.

The situation is already causing a dash for cash in the debt strapped country.

Bloomberg reports:

Greeks Line...

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Greece Teeters on Brink of Default

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Posted by  ▪  Sunday, June 21, 2015 at 2:00pm 6/21/2015 at 2:00pm

The new left-wing leaders in Greece have done little to stem the country’s growing financial crisis and even members of the Obama administration are now urging them to act.

NBC News reports:

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Everyone panic, California is about to destroy Uber

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Posted by  ▪  Wednesday, June 17, 2015 at 4:06pm 6/17/2015 at 4:06pm

Real talk: Uber is a fantastic service.

Living in Washington, D.C., I’ve come to appreciate the availability of drivers who know the city well enough to not get me stuck in a quagmire when I’m making a quick trip across town. It’s a rare thing,...

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Staples Workers: Thanks for Nothing, Obamacare

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Posted by  ▪  Tuesday, February 10, 2015 at 8:50am 2/10/2015 at 8:50am

Due to regulations imposed by Obamacare, some businesses are cutting the work hours of their employees. This was a known, predicted consequence of the Affordable Care Act. Staples is just the latest newsworthy example.

Remember, businesses can only try to survive under the given set of rules—but some employees are having a...

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San Fran Raises Minimum Wage, Kills Local Book Store

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Posted by  ▪  Saturday, February 7, 2015 at 8:00pm 2/7/2015 at 8:00pm

Progressives love the idea of raising the minimum wage and the City of San Francisco is taking the issue to new heights. Unfortunately, the success and survival of small businesses rarely figure into these decisions.

One small but successful independent book store in San Francisco is now closing. The owner recently appeared...

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Germany Refuses Debt Writedown for Greece

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Posted by  ▪  Tuesday, February 3, 2015 at 8:30am 2/3/2015 at 8:30am

Greece’s new prime minister Alexis Tsipras is finding out that his country’s massive debt won’t go away just because he wants it to. Maybe that’s why Germany has a strong economy and Greece doesn’t.

Jane Wharton of Express UK reported:

Merkel refuses to write off Greece’s debt

In her first interview since Syriza won...

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Will the Fed Raise Rates in 2015?

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Posted by  ▪  Monday, January 12, 2015 at 8:30am 1/12/2015 at 8:30am

Entering 2015, most economists expected that the Federal Reserve would finally begin raising short-term interest rates. Fewer than two weeks in to the year and that thesis is already beginning to crumble.

For seven years, the Fed kept interest rates at rock-bottom levels and employed a massive money-printing program called Quantitative Eas...

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Thune Keeps Gas Tax Hike on Table

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Posted by  ▪  Wednesday, January 7, 2015 at 1:00pm 1/7/2015 at 1:00pm

When it was confirmed that the Republicans would be taking over the US Senate after November’s historic election many of us, fueled by a potent combination of conservative activism and Obama administration incompetence, were expecting big things.

One of the items on the “Wish List” was tax reform. As the old adage...

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As Gov. Brown touts CA’s “comeback,” another city mired in fiscal scandal

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Posted by  ▪  Tuesday, January 6, 2015 at 4:00pm 1/6/2015 at 4:00pm

Californians are starting 2015 with a fresh round of new taxes, and the inauguration of Democrat Jerry Brown for an unprecedented fourth term as California’s governor.

As part of his inaugural address, Brown derided critics of the state’s current economy, and conjured up a fantasy of balanced budgets and robust employment.

“We...

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Could Greece set off a Euro crisis in 2015?

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Posted by  ▪  Wednesday, December 31, 2014 at 8:30am 12/31/2014 at 8:30am

The label “Sick Man of Europe” has been awarded to many a European nation and empire since it was first used to describe the decrepit Ottoman Empire in the mid-19th century.

Today, it seems the entirety of Europe, save the United Kingdom and Switzerland, is worthy of the “sick man” title. The Eurozone...

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