LONDON - Almost 3,000 British job losses were announced by Barclays (nyse: BCS - news - people ) bank, car maker Jaguar Land Rover and music retailer Zavvi - dealing a blow to government efforts to stem rising unemployment and support businesses as Britain heads deeper into recession. Meanwhile, Britain's government took new steps to ease the impact of the financial crisis, seeking to loosen up tight credit markets by guaranteeing billions of pounds of bank loans to small businesses. The FTSE 100 index of leading British shares closed down 5 percent, at 4,180.64.
RIGA, Latvia - Latvia's president lashed out at lawmakers and threatened to dissolve Parliament after more than 40 people were injured in the worst rioting since the Baltic country split from the Soviet Union in 1991. President Valdis Zatlers said he would disband the legislature by March 31 unless lawmakers agree to a series of reforms to help restore political and economic order in the crisis-hit nation. Latvia's economy was once the fastest-growing in the European Union, but it has undergone a dramatic reversal and is expected to contract 5 percent this year. The Central Bank burned through about one-third of its reserves to defend the currency, the lat, and unemployment rocketed from 6 percent to 7 percent in December. The rampage echoes similar clashes in Greece and Bulgaria, where protesters vented their anger at deteriorating economic conditions and widespread corruption. Latvians are irate about the country's deepening recession, and many blame Prime Minister Ivars Godmanis' center-right government for the economic woes.
http://www.forbes.com/feeds/ap/2009/01/14/ap5921973.htmlAs this proceeds and gets steadily worse, expect fake protests by right-wing "people" to suddenly appear. They will most likely be protesting "taxes" and "socialism"..And they will be sponsered by corporate/government/fascist interests!
Printer-friendly format
Email this thread to a friend
Bookmark this thread
(1000+ posts)
Send PM |
Profile |
Ignore
