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Economic Stagnation

All articles tagged with #economic stagnation

Britain braces for seventh PM in a decade as Starmer resigns
politics28 days ago

Britain braces for seventh PM in a decade as Starmer resigns

Keir Starmer’s resignation amid Britain’s post-Brexit turmoil kicks off another round of leadership churn, with Andy Burnham tipped as the front-runner to become the seventh prime minister in ten years. The piece traces how a sequence of shocks—from the 2008 financial crisis and austerity to Brexit, Covid, and energy-price surges—has weakened trust in government and fractured the two-party system, leaving the country searching for stability while Burnham pledges reforms to utilities and social care.

via NBC News|
#andy-burnham#brexit#economic-stagnation
Woman arrested for attempting to use dead relative to secure bank loan
crime2 years ago

Woman arrested for attempting to use dead relative to secure bank loan

A woman in Brazil was arrested for attempting to secure a loan using her dead uncle's body at a bank, raising suspicion when she tried to get him to sign the document in a wheelchair. The man was later confirmed to have been dead for several hours, leading to the woman's arrest on suspicion of theft by fraud and violating a corpse. The incident occurred amid Brazil's economic stagnation, with the country's GDP flatlining and high interest rates.

via Business Insider|
#attempted-theft#brazil#corpse-violation
Germany's Budget Crisis Sparks Fear and Uncertainty for Climate Commitments and EV Industry
economy2 years ago

Germany's Budget Crisis Sparks Fear and Uncertainty for Climate Commitments and EV Industry

Germany is facing a billion euro budget crisis after the country's highest court ruled that the government's 2024 budget violated fiscal rules. The ruling has jeopardized the coalition government under Olaf Scholz and raised fears of economic stagnation. The court's decision prevents the government from diverting €60bn of borrowing from its pandemic emergency fund into a climate and transformation fund, hindering Germany's green revolution and industrial modernization. The crisis has also cast uncertainty on future financial support for Ukraine, the EU budget, and other areas of spending. Calls for reforming the debt brake rule, which limits the government's structural deficit, are growing louder, but opposition from fiscally conservative parties poses a challenge. The government's credibility is at stake, and the country's economic stability is in danger.

via The Guardian|
#budget-crisis#debt-brake#economic-stagnation