French trade deficit surges to record high

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Source: Bloomberg
French trade gap soared to a record high in 2011, signalling a decline in nation's competitiveness. The trade shortfall widened from EUR 51.1 billion in 2010 to EUR 69.6 billion in 2011, reported trade ministry today. Exports rose 8.6% while imports surged 12%. President Sarkozy proposed to tackle country's trade gap through cutting payroll taxes while increasing the sales tax.
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Tue, 07 Feb 2012 12:55:43 GMT

Greek officials struggle to reach consensus

Although PM Papademos and officials from three leading Greek parties have agreed on debt cuts corresponding to 1.5% of country's GDP, nation's leaders still are struggling on measures related to wage reductions, bank recapitalization, and pension fund reforms. Greece is due to pay EUR 14.5 billion of debt on March 20 and time for the country is running out, pointed

Tue, 07 Feb 2012 14:35:31 GMT

India forecasts weakest growth since 2009

The government of India predicted the nation's economy will expand at slowest pace in three years, putting extra pressure on Reserve Bank of India to cut interest rates. Government predicts annual GDP to increase by 6.9% starting from March. India's economy grew 8.4% in period 2010-2011. The growth slowed down after central bank raised benchmark rates starting from 2010 until October 2011. 

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