April 2013

Further Budget Cuts In Portugal

Portugal is bracing itself for further austerity measures following the Prime Minister’s latest announcement to make further spending cuts.

Social security, education, health and other public funding is expected to be the most affected.

The trimming of these budgets is set to allow Portugal to avoid being bailed out again by the Eurozone. Read more

Bank of England Holds Interest Rate…

The Quantitative Easing strategy imposed in the will UK will continue with the Bank of England keeping the base interest rate at 0.5%.

The decision follows Japan’s equivalent took the decision to pump more money into its financial system.

Britain’s economy continues on the plateau seen since the new coalition Government in the UK has failed to kick-start the nation with its tepid fiscal strategy. Read more

Egypt Seeks $4.8bn Loan

Egypt is the latest country to seek financial refuge as the country’s Ministers discuss the prospect of a $4.8bn loan from the International Monetary Fund (IMF).

Egypt, recently hit by low foreign currency reserves and a struggling Egyptian Pound urgently require the loan to prevent further economic damage ensuing. Read more