A sample -
Portugal:
A senior euro zone source told Reuters on Sunday that Germany, France and other euro zone countries were pushing Portugal to seek an EU-IMF assistance programme, following Greece and Ireland, in a bid to prevent contagion spreading to much larger Spain, the fourth biggest economy in the euro area.China:
For all seeking a reason why China will never voluntarily drop its CNYUSD peg, and why it will now actively buy PIIGS debt indefinitely, in its attempt to keep its currency low against the EUR and fixed against that ultimate debaser of currencies, just take one look at the December trade surplus. Even as gross trade surged to an all time high with total imports and exports just shy of $300 billion, at $295.2 billion, December's trade surplus plunged from $22.9 billion in November to just $13.1 billion, the lowest since March and April when China actually had a stunning trade deficit, and a nearly 50% miss to consensus which was at $21.4 billion.Greece:
Greek bond yields hit another record high Monday amid a broader flare-up in Europe's debt crisis and despite better than expected deficit reduction figures.California:
After years of cutting billions and billions in spending, California has to do it again.Canada:
The Golden State and its new governor, Jerry Brown, are facing a $25 billion shortfall that must be addressed by June 30.
For working Canadians, however, 2011 will go down as the year they saw their net pay stubs shrink, in some cases by significant amounts.... yes, even Canada:
Canada's Superintendent of Bankruptcy issued a warning to Canadians about the dangers of high household debt Friday, adding his voice to the chorus from officials concerned about the amount of leverage the average resident now has.Oh, and if the above wasn't enough to get you at least a tad bit concerned ... click.
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