Dollars and $ense: Eurozone debt crisis far from over- Greeks turn to barter system to survive

April 21, 2012 – THE HAGUE, Netherlands -The prime minister of the Netherlands says seven weeks of talks to hammer out an austerity package aimed at bringing the budget deficit back within European Union limits have collapsed. Mark Rutte says his minority Cabinet will hold a crisis meeting Monday to discuss the next steps. He said Saturday “elections are the logical next step,” but he wants to work with parliament to hammer out austerity measures before a poll can take place. –Nola

U.S. and Canada pass on additional IMF funding: Canada was among the countries Friday that declined to contribute additional emergency resources for the International Monetary Fund to assist the economic crisis gripping some European nations, insisting more emphasis should be placed on the eurozone to help relieve its own issues. Finance Minister Jim Flaherty told a news conference in Washington that Canada, along with the United States, were not supportive of providing further funds for Europe and said that region should be able to assist itself in a greater capacity. “A number of countries have agreed to provide the fund with additional resources now,” Flaherty said Friday evening in Washington. “With respect to the Canadian position, Canada has always supported the IMF. At the current juncture, however, we believe the fund has adequate resources to deal with imminent needs. This is particularly true, given the capacity of Europe to deal with its sovereign debt crisis.” –Canada

What works: Greeks turn to ‘cashless’ barter system to survive economic austerity

contribution Luisport  

About these ads