The economic crisis continues.
In a bid to avoid default, the American International Group (AIG) warned regulators that the “company’s collapse could cripple money market funds, force European banks to raise capital, cause competing life insurers to fail and wipe out the taxpayers’ stake in the firm”: here.
Scenes of distressed workers who have just lost their jobs are becoming an everyday occurrence across Australia. Under the impact of the global recession, the unemployment rate has begun to accelerate, with almost 2,000 full-time jobs lost per day: here.
SPD right-winger Thilo Sarrazin is leaving behind a “scorched earth” in Berlin to join the executive of the German Bundesbank: here.
Bailout money is flowing abroad. Study casts doubt on the effectiveness of Bank of England’s ‘quantitative easing’ policy: here.
Britain: Arts world braced for ‘hurricane’ as recession hits: here.
On March 6, 300 workers occupied the Goss International plant in Nantes, France over the threat to their jobs: here.