financial crisis

As Argentina currency devalues, 'We don't know what prices to charge!'

 
“Closed due to the peso devaluation”. In the past few days, many Argentinean stores have been putting up signs with this message. Following a 14% drop in the national currency’s value, Argentina’s retail sector is once again in crisis mode. Our Observer works at a motorcycle dealership, and her daily work in the store has become rather challenging. Read more…
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The crisis in numbers: eight Europeans share their monthly budgets

 
Reeling from the economic backlash of Greece’s debt crisis, several eurozone member countries have passed harsh austerity measures at home in a bid to stave off their own financial crisis. To get a better picture of how these measures have affected people’s pocketbooks, we asked our Observers to share an example of their monthly budgets with us. Read more…

Greeks give up hope as further austerity measures loom

 
Thousands of people hit the streets on Tuesday, June 28, for a two day strike in protest against the proposition of greater austerity measures. Our Observers in the country tell us what life is like as Greece strives to tighten its purse strings. Read more...

30,000 Americans fight for 655 low cost homes

Georgia residents revealed the extent of their desperation for cheaper rent on Wednesday when 30,000 people scrambled for a Sector 8 application form in the hope of receiving public housing assistance. The crowds became chaotic at points, leaving 62 injured; 20 of which were admitted to hospital. See the video...

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"Long live the courgette, down with red meat!"

This is the slogan that the Egyptians have adopted since the price of a kilo of red meat rose above 60 Egyptian pounds (eight euros). Read more...

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Greek demonstrators say “Plutocracy should pay for the crisis”

Thousands of Greeks have taken to the streets to show their rejection of the government's proposed austerity measures, which are supposed to right the country's flailing economy. Our Observer in Thessaloniki was in the middle of the protest there, along with his camera. Read more and see his photos...

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Moscow, both hated and helpless in Kaliningrad

Russia's westernmost city staged the biggest anti-Moscow protests in a decade on Sunday. But while similar demonstrations across the rest of the country saw the swift deployment of riot police, in the distant Baltic enclave of Kaliningrad Oblast, the authorities were left helpless in the face of an estimated 10,000 protestors. Read more...

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The firm that laughed at redundancy victims

After consultants who defied trade unions in advising a Prague company to lay off staff then invited the same unions to their lavish Christmas party, both union leaders and those made redundant were left feeling bemused. Even more so, when they looked carefully at the invitation. Read more...

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"We pay UK prices – but on Greek wages"

Concerns over the abysmal state of the Greek economy are mounting across Europe. Meanwhile, the Greeks themselves are worried about the daily cost of life - or why, when they earn less than 1,000 euros per month, the price of a pint is the same as in the UK and France. Read more...

Rising from unemployment to entrepreneurship

A growing number of unemployed people are thinking of starting their own businesses. Some 25% of those out of work have this in mind – compared with 12.5% of French people generally. But starting your own business can be complicated - from finding finance, to the complicated red-tape involved, to running your own accounts. Read more.
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