The European Commission (EC), European Central Bank (ECB) and the International Monetary Fund (IMF) have put together a 750 Euro billion bail out package to try and avert what would be the second leg of the great financial crisis and a double dip recession [...]
Fears of a second so called double dip recession are emerging. The rate at which banks lend and borrow to each other has started to rise for the first time in months as everyone starts to get concerned about each others’ exposures to Greece, [...]
Eastern Europe has borrowed $1.7 trillion abroad, much on short-term maturities. It must repay – or roll over – $400bn this year, equal to a third of the region’s GDP. This will be difficult because most lenders wish to rein in high risk debts and need the loans to supplement their diminishing capital.
Not even Russia [...]
