Britain's economic outlook appeared gloomy on Wednesday after data revealed the country slipped back into recession. Under pressure from cutbacks and the eurozone crisis, the economy shrank 0.2 percent in the second quarter of 2012, figures showed.
Regenerating growth...As the Eurozone looks headed for its second recession in three years, European leaders are shifting their focus from austerity plans towards growth. But what can Europe do to fix its sluggish economy and create new jobs? Christophe Robeet's guests propose their answer.
In 1970's New York, "Serpico" was the cop who fought against police corruption. Today in Italy, it's the name of a computer system tackling tax evasion. With the country on the brink of recession, Rome misses out on over 100 billion euros a year in unpaid taxes. Yet for some Italians the system is less like a crime-busting policeman than Orwell's "Big Brother"; a dangerous intrusion into their privacy.
Ljubljana Mayor Zoran Jankovic's new centre-left party, Positive Slovenia, won a surprise victory in Sunday elections, beating both the Social Democrats of Prime Minister Borut Pahor (pictured) and the centre-right favourites, partial results showed.
Although Euro zone leaders have reached an agreement on Greek debt and bank recapitalisation, Economist Nouriel Roubini feels the deal is a positive step but still not sufficient. Unless we can restore growth and jobs, he fears a backlash against austerity, since people will not accept a recession for 3 or 4 years.
In today's French papers: the economic crisis is still all over the front pages: Le Figaro asks if voters like how Sarkozy's dealing with it, Liberation looks at soaring rents, and Le Parisien tells readers how to profit from the price of gold.
Stocks in Asia crept up Wednesday in cautious trading, with widespread uncertainty surrounding the EU’s debt plan prevailing. This comes on the heels of Greek Prime Minister George Papandreou’s visit to Berlin on Tuesday.
MEDIAWATCH, Tues. 27/9/2011: A BBC interview with a London-based trader drew gasps Monday when Alessio Rastani suggested he had been eagerly awaiting the onset of another major recession. Online, there was speculation that Rastani was a pranskter, since his declarations were so extreme as to border on satire.
The Independent's Robert Fisk rages that Obama is "pathetic" in his support for Israel. Jerusalem Post journalist Caroline Glick says no scenario within the UN allows Israel to win. And Al-Akhbar journalist Houssam Kanafani says Abbas's move to request statehood has become a trap. Palestine is the focus for Friday 23rd September 2011.
Meeting on the sidelines of the UN General Assembly are the BRICS nations. That's the group of five emerging global economies made up of Brazil, Russia, India, China and South Africa. Ahead of the meeting, Brazil's President Rousseff made it clear that her country wants to help bail out some of Europe's most debt-stricken governments. But will the other BRICS nations agree?
