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The last time Washington did anything meaningful to reduce deficits was because of pressure (and political consequences) from the Tea Party movement.
Italy must focus on its debt problem and a parliament decision not to ratify the reform of the euro zone bailout fund has no impact on it, Economy Minister Giancarlo Giorgetti said on Wednesday. Italy's lower house of parliament last week voted against a long-awaited reform of the euro zone bailout fund, the European Stability Mechanism (ESM), throwing into doubt ratification of a European Union treaty that is designed to provide help for failing banks.
Servicing debt grows more expensive as the deadline to curb the spending spree gets closer.
Opposition demands for Ernest Addison to resign over $5.2bn loss have exposed the politicisation of the Bank of Ghana, Bank of Ghana Governor Ernest Addison reacted angrily after hundreds of protestors took to the streets of Accra on 3 October demanding that he and his two deputies resign over the loss of about 60 billion Ghanaian cedis (US$5.2 bn) in the 2022 financial year. The demonstration was organised by the opposition National Democratic Congress (NDC).