Greece will decrease its deficit

Source: BBC
© Scanpix/AFP

The new government of Greece is discussing measures to prevent debt crisis. Finance Minister Evangelos Venizelos made a forecast that the deficit will decline from 9% of GDP in 2011 to 5.4% in 2012. The reason is that commercial banks write off one half of Greece's debts as part of the Eurozone's bailout strategy.

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Fri, 18 Nov 2011 15:32:37 GMT

ABN Amro announced a loss

Following the EU bailout strategy to write off Greek debts, ABN Ampro a Dutch bank suffered losses. The bank today reported a net loss of 54m euros in period between July and September this year as compared to 341m net income for the same period in 2010. The bank possesses 1.4bn euros of Greek loans and had to write off 500m euros from this

Fri, 18 Nov 2011 15:34:36 GMT

Oil Spill near Rio de Janeiro coasts

Brazil is investigating oil spill in 120km from the coast of Rio de Janeiro state. The responsibility of the spill lies on the US company Chevron. About 600 barrels of oil shaped a slick on the water. Fortunately the spill moves away from Brazilian coast as more than 17 ships clearing up the spill. In case Chevron does not fulfill its obligations to clean

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