This article is written by a student writer from the Her Campus at George Mason University chapter.
Making Sense of the Euro Summit
If you have watched any news this year at all, I am sure that you are even remotely familiar with the concept of the European debt crisis. The need to support a collapsing Euro has existed, ominously so, over this great continent for some times. Critics of the Euro are applauding Britain for it’s abdication of the continent wide currency. The summit was initially established to reach agreement on how to deal with the European Union’s bailout fund for nations within the EU that need debt assistance.The goals established at October 23rd’s summit were clearly defined; “Reduce Greece’s mountainous debt, recapitalise vulnerable banks and create a credible firewall to protect endangered but still-solvent countries like Spain and Italy.” (BBC News, Europe.) Among these goals exists a more permanent effort to curb future financial crises that are bound to exist. A “European Semester” would require governments to maintain clear budget outlines with the intention of submitting it to Brussels, and a “Europe 2020” plan to prepare for future growth in the EU. The effort to integrate
Europe as a whole will take place, as summits are to be held twice a year. The most progress has been made in the area of fixing Europe’s weak banks, an underlying issue of the European debt crisis. A three-pronged resolution was reached on Wednesday this week, where European leaders have agreed to take a 50 percent loss on Greek debt. Although critics of European economic policy have criticized European leaders for not doing enough, each nation seems to have come together to combat this economic uncertainty that plagues Europe’s economic future.
An Attempt to ‘Off’ Gone Mad
Ruth Madoff revealed to CBS this week that her husband, Bernie Madoff (who is serving 150 years in jail) and she had a suicide pact after Madoff’s ponzi scheme was revealed in 2008. Madoff stole from friends, family and his own community, creating a scheme so liquid, that he lived a life beyond that he had even dreamed of. His business, which began in the early 1990’s deprived those who trusted Madoff with their life savings. His business crashed after his $65 billion fraud scheme surfaced, and was determined to be a false financial investment firm. The Madoff’s attempted suicide on Christmas Eve in 2008, by taking various pills. Ruth Madoff admitted to CBS that after waking up the next morning, both she and her husband realized that the idea was rash and not predetermined. Ruth Madoff’s full interview with CBS will air this week.
Disaster in Bangkok
A five day holiday has been issued by Thai authorities after 360 people have died in the worst flooding Thailand has seen in decades. Citizens have been warned to ration food, and were told to leave major cities, as more flooding is projected.
If you have watched any news this year at all, I am sure that you are even remotely familiar with the concept of the European debt crisis. The need to support a collapsing Euro has existed, ominously so, over this great continent for some times. Critics of the Euro are applauding Britain for it’s abdication of the continent wide currency. The summit was initially established to reach agreement on how to deal with the European Union’s bailout fund for nations within the EU that need debt assistance.The goals established at October 23rd’s summit were clearly defined; “Reduce Greece’s mountainous debt, recapitalise vulnerable banks and create a credible firewall to protect endangered but still-solvent countries like Spain and Italy.” (BBC News, Europe.) Among these goals exists a more permanent effort to curb future financial crises that are bound to exist. A “European Semester” would require governments to maintain clear budget outlines with the intention of submitting it to Brussels, and a “Europe 2020” plan to prepare for future growth in the EU. The effort to integrate
Europe as a whole will take place, as summits are to be held twice a year. The most progress has been made in the area of fixing Europe’s weak banks, an underlying issue of the European debt crisis. A three-pronged resolution was reached on Wednesday this week, where European leaders have agreed to take a 50 percent loss on Greek debt. Although critics of European economic policy have criticized European leaders for not doing enough, each nation seems to have come together to combat this economic uncertainty that plagues Europe’s economic future.
An Attempt to ‘Off’ Gone Mad
Ruth Madoff revealed to CBS this week that her husband, Bernie Madoff (who is serving 150 years in jail) and she had a suicide pact after Madoff’s ponzi scheme was revealed in 2008. Madoff stole from friends, family and his own community, creating a scheme so liquid, that he lived a life beyond that he had even dreamed of. His business, which began in the early 1990’s deprived those who trusted Madoff with their life savings. His business crashed after his $65 billion fraud scheme surfaced, and was determined to be a false financial investment firm. The Madoff’s attempted suicide on Christmas Eve in 2008, by taking various pills. Ruth Madoff admitted to CBS that after waking up the next morning, both she and her husband realized that the idea was rash and not predetermined. Ruth Madoff’s full interview with CBS will air this week.
Disaster in Bangkok
A five day holiday has been issued by Thai authorities after 360 people have died in the worst flooding Thailand has seen in decades. Citizens have been warned to ration food, and were told to leave major cities, as more flooding is projected.
Sources
http://www.bbc.co.uk/news/world-europe-15449149
tp://www.economist.com/node/21533392
http://www.bbc.co.uk/news/world-us-canada-15471683
http://www.bbc.co.uk/news/world-asia-pacific-15471849