George Papandreou steps down

Note: This section contains information in English only.
Source: Bloomberg
Greek Prime Minister George Papandreou has confirmed his resignation. Papandreou and Antonis Samaras, leader of opposition, have agreed to create a national unity government to provide the execution of European Council bailout programme. According to Papandreou and Samaras, new elections will be held straight away after the completion of EU bailout plan. Both officials will meet on Monday to select the next prime minister.
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Mon, 07 Nov 2011 09:54:55 GMT

Japan’s public debt might go beyond 1 quadrillion yen

Currently Japanese home debt is rising at a faster pace than was previously predicted and according to Ministry of Finance might surpass 1 quadrillion yen ($12.8 trillion) at the end of March 2012. Japan had planned to stick to deficit of ВҐ995.92 bln earlier this year; however, after updating forecasts, additional borrowing will be undertaken. Representatives of Finance Ministry say the surge in national debt was mainly

Mon, 07 Nov 2011 09:50:06 GMT

Asian equities decline after Greek Prime Minister steps down

Asian stocks experienced a drop on Monday.  Both Australia's S&P/ASX 200 index and Japan's Nikkei Stock Average fell by 0.5%, while South Korea's Kospi declined 0.4%. China's Shanghai Composite lost 0.3%, whereas Hong Kong's Hang and Seng traded down 0.2%. According to Tom Kaan, Louis Capital Markets manager of equity trading, Asian investors are concerned with ongoing events in Europe as Greek PM agreed to resign.

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