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European Economic Woes Could Prolong Worldwide Downturn
By David Sessions - Politics DailyWorries about the stability of the European economy sent worldwide markets into a slide Thursday and fueled worries that the Euro zone's struggles with debt could affect the rest of the world, the New York Times reports. The Dow Jones dropped 2.61 percent yesterday, dipping below 10,000 for the first time since November. Stocks across Europe slumped as much as 6 percent, driving the euro down to its lowest value against the dollar in seven months. While some countries, including Germany and France, have acted quickly to help their economies recover from the global recession, others, such as ...
Will The Sun Never Set on Dubai's Debt?
By Joseph Schuman - AOL News(Nov. 30) -- There may be something in the financial woes of a Persian Gulf emirate that prompts gloating in the West, some latent ill will, perhaps, that dates from the oil shocks of the early 1970s. But the meltdown in Dubai, now shaking markets worldwide, is as American as a subprime mortgage loan and potentially just as risky. The head of Dubai's Department of Finance on Monday told Dubai television that the government won't guarantee the roughly $60 billion of debt incurred by Dubai World, the state-backed real estate, transport and investment conglomerate that has made Dubai a showcase ...
Michelle Obama Will Make International Hostess Debut at Pittsburgh G-20 Summit
By Lynn Sweet - Politics DailyIf you think First Lady Michelle Obama gets scrutinized on her overseas trips, just wait till she hosts spouses of international leaders at a summit in Pittsburgh Sept. 24-25, where the global economic crisis will top the agenda. The "Pittsburgh Summit 2009" is a meeting of the G-20, the Group of Twenty, an organization established in 1999 to bring together major world leaders to deal with global economic issues. The G-20 gathered in London last April. The East Wing is now planning Mrs. Obama's activities, working with the State Department. "She will host the spousal program," Mrs. Obama's ...
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