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  • Greece forecasts growth next year | Business Spectator
    consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Greece forecasts growth next year 8 Oct 2013 12 50 AM Politics International News Europe Economy Global News European Crisis In draft budget Greek govt forecasts growth for first time in six years You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password AAP Greece expects its economy to grow next year at last In its draft budget presented on Monday the government forecast the economy would grow 0 6 per cent the first annual improvement after a brutal six years of contraction This year it is predicted to shrink four per cent leaving the economy 25 per cent smaller than when it was first hit by the financial crisis in 2008 The government even expects some jobs growth and a continued improvement in public finances through further spending cuts but without new taxes Deputy Finance Minister Christos Staikouras cited a rise in investment and exports Greece s economy was hit like many others by the global market turmoil in 2008 But its problems multiplied in late 2009 when it revealed that its public debt was far higher than expected as a result of dodgy book keeping That scared international investors away from buying its government bonds bringing the country to the brink of bankruptcy in early 2010 It was saved when other European countries and the International Monetary Fund stepped in with two massive bailouts In exchange however Athens had to make harsh spending cuts and tax increases to rein in the runaway deficits The reforms devastated the economy and eroded standards of life The country is now seeing signs of hope though the recovery is expected to be slow The draft budget Staikouras presented foresees a slight drop in unemployment from 27 per cent in 2013 to 26 per cent next year That is still not far from the 28 per cent hit in June which is the highest rate among the 17 countries that use the euro currency Staikouras warned the government cannot afford to relax its five year austerity drive with further reforms and privatisations

    Original URL path: http://www.businessspectator.com.au/news/2013/10/8/european-crisis/greece-forecasts-growth-next-year (2014-01-12)
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  • Europe | Business Spectator
    Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Europe Letter from a worried London Many analysts fear London s charge towards economic health in services automotives and importantly housing is leading the city straight into potential bubbles by Stephen Fay 7 12am October 07 10 comments Portugal s bailout terms approved EU IMF approve fresh austerity measures but reject reduced deficit goals 5 11am October 04 Italian PM remains under pressure Despite surviving Berlusconi uprising Letta faces uncertain future 11 09pm October 03 Political risks will deepen eurozone woes Question marks are hanging over the future of European politics in Italy Austria and Germany Such widespread political uncertainty will wreak havoc on markets by Oliver Marc Hartwich 6 23am October 03 9 comments Draghi warns on US shutdown risk ECB president warns US shutdown jeopardises global economic recovery 12 32am October 03 Berlusconi drops bid to topple govt Italian PM Letta to survive effort to topple his govt as Berlusconi fails 11 05pm October 02 Party members turn on Berlusconi Dissent comes as Italian PM Letta scrambles to bolster support ahead of vote 11 13pm October 01 Italian political uncertainty deepens Berlusconi seeks support for bid to bring down Italian government 3 55am October 01 Merkel s victory will blunt her sword Despite her remarkable election result the German chancellor s ability to implement her agenda will now be at the mercy of others who are far from friendly by Oliver Marc Hartwich 7 13am September 26 1 comment Germany s painful parallel universe With Angela Merkel s win will come a eurozone modelled as a bigger Germany But export led growth is impossible for the region and Berlin is still stomping on the feet of its neighbours by Martin Wolf Financial Times 1 38pm September 25 4 comments Markets are stuck between tension and stress The stock market is in for a few shaky weeks as a tense debt ceiling stand off clutches the US and European countries consider new bailouts by Robert Gottliebsen 7 59am September 24 20 comments Merkel s Germany is becoming Merkel s Europe Angela Merkel has a misunderstood vision for Europe And it will surprise those who think her new approach to the union is only temporary crisis relief by Gideon Rachman Financial Times 7 06am September 24 5 comments THE WEEK AHEAD David Jones is among a handful of companies to report in the coming week while US GDP and Germany s election result will be closely watched by Hannah Francis 10 57am September 20 Europe dangles from Germany s boring election The future of the eurozone crisis depends on how Germany s Social Democratic Party performs at the ballot Behind the campaign s prosaic face stakes are high and the politics is intriguing by Wolfgang Munchau FT

    Original URL path: http://www.businessspectator.com.au/politics/international-news/europe?page=1 (2014-01-12)
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  • Europe | Business Spectator
    2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Europe EU approves Snowden hearing EU Parliament committee gives all clear to hear Snowden speak 3 17am January 10 Britain will be poorer for Scotland the brave The economic case for Scottish independence is far from settled with doubts hanging over volatile oil prices and uncertainty over future revenues One thing is certain it would be a disaster for Britain by Stephen Fay 6 38am January 09 8 comments Merkel injured skiing German Chancellor breaks pelvis cancels meetings for next few weeks 11 33pm January 06 Britain approves banking reforms New regulations will include ring fencing of retail investment divisions 11 53pm December 17 1 comment Germany s coalition deal signed Chancellor Angela Merkel retains power with grand coalition deal 1 03am December 17 Merkel coalition gets key vote Final obstacle removed for Chancellor Angela Merkel s third term 11 04am December 15 Berlusconi warns of revolution Former Italian PM claims uprising if he is forced to serve time 11 30pm December 12 Ukraine no confidence motion rejected Country s parliament dismisses opposition move in wake of mass protests 11 36pm December 03 Euro chief touts more Greek aid European Parliament president says he is in favour of more Greek aid 2 52am November 27 1 comment Eurozone ministers pressured European finance ministers pushed to stimulate growth employment 6 03am November 23 IMF downplays Greek risk IMF sees no near term acute financing pressures on Greece 4 33am November 22 EU leaders agree to smaller budget New budget will focus on growth jobs and innovation European Union says 2 10am November 13 Bank bailouts still possible EU official New approach to send problem banks to investors first taxpayers last 1 18am November 13 EU seeks to end budget row EU ministers struggle to find agreement on 2014 budget as deadline looms 7 01am November 12 EU IMF told to go easy on Greece Greek president says his citizens can give no more in austerity push 3 14am October 29 Europe furious over US spying claims European leaders unit in escalating row over claims US spied on allies 3 37am October 25 EU warns on US default risk US default would have dramatic consequences for global economy Olli

    Original URL path: http://www.businessspectator.com.au/politics/international-news/europe?destination=taxonomy/term/2989 (2014-01-12)
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  • Obama’s wedge between Israel and Iran | Business Spectator
    agree to a relaxation in sanctions or whether on the contrary congressional leaders press for toughened sanctions that would undercut Obama s negotiating stance While the President can relax some sanctions by executive order of the White House sooner or later he is going to need Congress to go along with an Iran deal The administration s confidence that it can win the argument over Iran is bolstered by an opinion poll taken before the Geneva agreement was nailed down which showed the American public was in favour of a nuclear deal with Iran by 56 per cent to 39 per cent The administration s calculation is that the strong public desire to avoid further wars in the Middle East will override the public s traditional sympathy with Israel and antipathy towards Iran AIPAC is a formidable lobbying organisation But the recent fiasco over Obama s request to Congress to approve missile strikes on Syria following the use of chemical weapons by Bashar al Assad s regime showed that the Israel lobby cannot always deliver victory on Capitol Hill AIPAC lobbied hard in favour of strikes on Syria But deep public opposition to military action weighed more heavily with Congress However the analogies may not be as reassuring as the administration hopes The route from a Syria vote to military action was clear and direct By contrast rejection of an Iran deal is not explicitly a vote for war What is more the fiasco over Obama s health care reforms has driven the President s approval ratings to new lows and weakened him If the Obama administration s domestic political strategy over Iran is to work its arguments in favour of the nuclear deal will have to be able to withstand the fierce scrutiny that the Israelis and others will subject them to So do the arguments stack up Broadly speaking they do Important weaknesses in the earlier draft of the agreement a fortnight ago have been addressed In particular development of Iran s heavy water plant at Arak south west of Tehran which potentially opened an alternative route to a plutonium bomb is now to stop Iran s stockpile of uranium enriched to 20 per cent which is dangerously close to weapons grade will be diluted Iran has agreed to an intrusive regime of inspections which will make it much harder for it to violate a nuclear deal as North Korea once did Iranian relief at this interim deal is palpable and alarming to Israel and Saudi Arabia But the reality is that Iranians have not yet got very much by way of sanctions relief The biggest measures agreed are one off releases of frozen assets The main financial sanctions remain in place and continue to cost Iran dearly The Obama administration has retained considerable leverage as the two sides move to negotiate a full deal over the next six months The Israelis point out that they are not the only US ally in the region that is deeply

    Original URL path: http://www.businessspectator.com.au/article/2013/11/26/usa/obamas-wedge-between-israel-and-iran (2014-01-12)
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  • Gideon Rachman - FT | Business Spectator
    gold twice Biz Stone is looking to tap into the selflessness of others with his latest venture Jelly Enterprises But the just launched app will have to quickly shift into something of real value if it s to become a mainstream success Climate Carbon markets Energy markets Renewable energy Resources Solar energy Wind power CleanTech Science Environment Green Deals Policy Politics Smart Energy Latest stories Marking the milestones of 2013 Australia s transition to a clean energy economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Gideon Rachman FT The West is losing faith in its own future The Western dream is being shot to pieces by rising income inequality and declining living standards Expect to see more radical political movements rising through the cracks by Gideon Rachman FT 8 52am December 10 63 comments Obama s wedge between Israel and Iran Barack Obama is hoping Americans strong desire to avoid further wars in the Middle East will help seal a nuclear deal with Iran But staring down Congress Israel lobby will be a tough battle by Gideon Rachman FT 3 07pm November 26 2 comments How China plans to prove the sceptics wrong Foreign cynicism on China s proposed economic and political reforms sits at odds with China s striking confidence And Xi Jinping intends to keep defying the naysayers by Gideon Rachman FT 7 38am November 07 2 comments Gatsby moment Careless US politicians who break things The world has let the US get away with Russian roulette for half a century But this time things could backfire with self inflicted austerity a potential consequence of its debt crisis by Gideon Rachman FT 7 17am October 08 12 comments The West is losing faith in its own future The Western dream is being shot to pieces by rising income inequality and declining living standards Expect to see more radical political movements rising through the cracks by Gideon Rachman FT 8 52am December 10 63 comments Obama s wedge between Israel and Iran Barack Obama is hoping Americans strong desire to avoid further wars in the Middle East will help seal a nuclear deal with Iran But staring down Congress Israel lobby will be a tough battle by Gideon

    Original URL path: http://www.businessspectator.com.au/contributor/gideon-rachman-ft (2014-01-12)
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  • Yellen closer to taking over Fed | Business Spectator
    Green Deals Policy Politics Smart Energy Latest stories Marking the milestones of 2013 Australia s transition to a clean energy economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Yellen closer to taking over Fed 22 Nov 2013 3 07 AM Politics International News USA Economy Global News US Economy Interest Rates US Senate Banking Committee approves Janet Yellen Fed nomination You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password AAP The Senate Banking Committee has approved Janet Yellen to chair the US Federal Reserve setting up a likely confirmation by the full chamber next month President Barack Obama s pick to replace outgoing Fed chairman Ben Bernanke passed the committee 14 8 and if approved by the overall Senate she would be the first woman to run the world s most important central bank Three Republicans joined 11 Democrats in voting for Yellen who breezed through a two hour confirmation hearing earlier this month but encountered some resistance from critics of the Fed s longstanding easy money policy There are now five Republicans including Senators Bob Corker and Susan Collins who have signalled they are likely to support for Ms Yellen when her confirmation comes to the full Senate for a floor vote With Democrats controlling 55 seats and all of them united behind Yellen she is likely to get the 60 votes necessary to overcome Republican blocking tactics Ms Yellen 67 is the Fed s current vice chair She is a close confidant of Mr Bernanke and is not expected to move the Fed away from his signature policies including an US85 billion A91 billion a month bond buying program aimed at boosting growth and greater transparency on the thinking of Fed policy makers Democratic Senator Elizabeth Warren seen as a key monetary and fiscal policy watchdog in Congress hailed Ms Yellen as an extraordinarily qualified woman for the

    Original URL path: http://www.businessspectator.com.au/news/2013/11/22/us-economy/yellen-closer-taking-over-fed (2014-01-12)
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  • De Blasio dreams of a different New York | Business Spectator
    crime has fallen to record lows the city s greenhouse gas emissions dropped by 13 per cent since 2005 as Bloomberg incorporated environmental sustainability into policy areas such as housing and transportation the city has double the number of bike lanes than it did in 2006 the introduction of the 311 phone service gave the public access to information and helped resolve city complaints smoking was banned in public parks and investment in tech development lifted New York to be in the top three US cities in terms of assisting start ups That s not to mention New York has been the leading private sector job creator since the 2008 recession and Bloomberg has helped business in the four boroughs outside Manhattan grow four times faster than those on the island particularly in areas such as tech tourism and bioscience And for the first time in 60 years more people are moving into New York City than out of it Bloomberg is a complicated creature an independent who could be described as a libertarian on gender immigration and social issues paternalistic about obesity and public health and progressive on gun regulation and climate change A New York Times poll in August found that 48 per cent of New Yorkers approved of Bloomberg s performance as mayor and they can be a tough crowd to please Yet de Blasio s Tale of Two Cities narrative struck a chord with voters That is because the disparity between rich and poor in the city is growing and New Yorkers are feeling the pinch The top 1 per cent has a third more of the city s wealth than when Bloomberg came to power according to the city s own data and almost half of the city s inhabitants 46 per cent are considered poor or near poor De Blasio is a progressive whose policy views were shaped at the age of 26 when he went to Nicaragua to help distribute food and medicine in the middle of a war between the left and right He became a volunteer coordinator for the 1989 mayoral campaign of David Dinkins and in 2000 was named the campaign manager for Hillary Clinton s 2000 Senate race Since 2009 he has been New York s public advocate But the issue that really helped him get elected was education New York City spends more per student than anywhere in the world but schools and students are underperforming In uniform tests across the city this year only 26 per cent of students in years three to eight passed English and only 30 per cent passed maths These numbers are particularly low because the city moved to a more rigorous set of standards involving deep analysis and creative problem solving Last year under the easier exams 47 per cent of city students passed English and 60 per cent passed maths On the positive side schools in New York today are safer with a recorded drop in assaults while the drop out

    Original URL path: http://www.businessspectator.com.au/article/2013/11/15/usa/de-blasio-dreams-different-new-york (2014-01-12)
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  • Obama offers health plan fix | Business Spectator
    some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Obama offers health plan fix 15 Nov 2013 5 41 AM Politics International News USA US president concedes rollout has been flawed offers apology You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password AAP President Barack Obama says Americans will be allowed to keep cancelled health plans for an extra year in a major climb down after the troubled launch of his landmark reform In promoting his Obamacare plan to expand health insurance to millions of un insured Americans the president had promised that those happy with their existing coverage could keep it But when the program was launched many people received notices cancelling policies that were no longer compatible with the new rules Compounding this surprise the roll out of the program was undermined by an online marketplace for new cheaper coverage plans that proved unable to meet demand and repeatedly crashed On Thursday under pressure from politicians and falling poll numbers Obama announced that policy cancellations would be postponed for a year while Obamacare s problems are fixed Obama said that a measure to allow those who had insurance plans before Obamacare came in effect would be extended to those who bought them after its enactment The bottom line is insurers can extend current plans that would otherwise be cancelled into 2014 he explained And the American people those who got cancellation notices deserve and have received an apology from me Obama said acknowledging several times that that s on me But they don t want just words he said What they want is whether we can make sure that they are in a better place and that we meet that commitment While admitting that the online marketplace for consumers to find new health plans had had a rough start Obama warned his political opponents not to try to overturn the entire

    Original URL path: http://www.businessspectator.com.au/news/2013/11/15/usa/obama-offers-health-plan-fix (2014-01-12)
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