World leaders gather in China for G20 summit

Leaders from various countries throughout the world have gathered in China to discuss global issues at the G20 summit.

Greek banks reopen with real economy severely hit

After a three-week bank closure, the doors of all 2,500 Greek bank branches across the country reopened on Monday with capital controls remaining in place.

IMF: The first developed nation to miss a payment (Greece misses IMF payment as bailout programme expires)

Greece slipped deeper into its financial abyss Tuesday, when the bailout programme it has relied on for five years expired and the country became the first developed nation to miss a payment to the International Monetary Fund.

Economic slump in Russia to wield telling impact on Germany companies

Economic slump in Russia poses an increasingly serious threat to the German companies operating in that country, the President of the Association of German Chambers of Commerce and Industry (DIHK), Dr. Volker Treier said in an interview published by Bild am Sonntag newspaper.

The crisis in the Russian economy is putting an increasingly bigger brake on the business operations of German companies in Russia, Dr. Treier said, adding their activities were suffering in the first place from the falling exchange rate of the ruble.

Pope Francis urges G20 leaders not to forget the poor

Pope Francis has called on G20 leaders not to forget the poor, saying to do so would be "regrettable" as the heads of the world's most powerful economies prepare to meet in Australia.

The Group of 20 leaders are expected to sign off in Brisbane this weekend on a pledge to boost the level of their combined economic output by at least two percent above the currently projected level in the next five years, creating millions of jobs.
In a letter to Australian Prime Minister Tony Abbott, who holds the G20's rotating presidency, the pope said world powers "must not forget that many lives are at stake behind these political and technical discussions".

Job rich recovery and undeclared work, the focus of the Employment Ministers Meeting in Athens

Ministers for Employment and Social Policy of the European Union had the opportunity to exchange views and best practices on Europe 2020 Strategy core issues, issues that concern each European citizen. The contribution of these issues to the goal of economic recovery with more jobs and quality jobs and stronger social cohesion is crucial.
On 30 April, at the morning plenary session, the President of the Council, Minister of Labour, Social Security and Welfare of Greece, Ioannis Vroutsis, highlighted that Europe has entered a path to recovery. However, the goal is to lay strong foundations for enhancing the recovery, with special attention to those mostly hit by the crisis.

EU is aware that Ukrainian economy is in really terrible shape. - analyst

The European Commission has proposed another 1 billion euro for Kiev, which will come as a part of the 11 billion euro package agreed earlier in March. A rapidly worsening balance-of-payments and weak fiscal situation in the wake of the latest developments in Ukraine pushed the EU to consider a new perk. The Voice of Russia talked to Lilit Gevorgyan is a Russia/CIS country analyst with IHS Global Insight and Jane's Information Group.

How can this financial aid change the situation in Ukraine? In your opinion, will it somehow help to stabilize the country’s economy?

Ukraine Calls Up Reservists, as PM Warns of Looming 'Disaster'

Ukraine's interim government ordered a full military mobilization Sunday, in an effort to to counter what its new prime minister says is a Russian act of war.

Prime Minister Arseniy Yatsenyuk, in an address to parliament, warned lawmakers "we are on the brink of disaster." He spoke as Russian troops continued to take up positions on Ukraine's Crimean peninsula, and Western governments issued repeated condemnations of the Russian deployments.

Kiev has no money to pay off debts, financial crisis to follow - Ukraine's ex-minister

Ukraine’s new government is saying that it would try to do its best to stabilize the situation in the country. We have got in touch with Victor Suslov, once Ukraine’s Minister of Economy and now Ukraine’s representative in the Eurasian Economic Commission.
Ukraine’s new Prime Minister Arseny Yatsenyuk says that now, Ukrainians would have to toughly economize for some time. Meanwhile, the head of Ukraine’s National Bank Stepan Kubiv has said that Ukraine has enough money to pay back its foreign debts.

Cyprus to face savage cuts and economic dictatorship....

By Jordan Shilton and Chris Marsden(wsws.org)
23 March 2013

Cyprus’ fate illustrates how the European Union imposes the dictatorship of the global speculators, banks and corporations on the working class. The EU yesterday continued to demand massive austerity in Cyprus to raise €6 billion ($7.8 billion) in return for a €10 billion bank bailout.
The island country has been the centre of an escalating financial crisis, with its parliament voting Wednesday to reject proposals to raise the necessary funds by taking money from anyone with deposits in Cypriot banks. 

A new vote on whether to impose a “haircut” on depositors was delayed until today. The EU and European Central Bank (ECB) dismissed proposals by Cypriot politicians—themselves wholly reactionary—to create a “solidarity fund” to raise the six billion demanded.

Journalists targeted in Greece bombings

Homemade bombs have exploded at the homes of five journalists from major media outlets in Athens. Police are linking the attacks to the current economic crisis in the country and the way the mainstream media have reported it.
The devices, made of gas canisters, exploded outside residences in different areas of Athens. The explosions caused minor damage to the buildings’ entrances, but no one was injured.

The geopolitical fallout of a Greek euro exit

By Tom Ellis & Achilleas Patsoukas
Geece’s debt crisis has captured international headlines over the past couple of years. Virtually all analysts have focused on Greece’s deficit and mammoth debt, which pose a threat to the entire European economy.