- published: 09 Apr 2015
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The European debt crisis (often also referred to as the Eurozone crisis or the European sovereign debt crisis) is a multi-year debt crisis that has been taking place in the European Union since the end of 2009. Several eurozone member states (Greece, Portugal, Ireland, Spain and Cyprus) were unable to repay or refinance their government debt or to bail out over-indebted banks under their national supervision without the assistance of third parties like other Eurozone countries, the European Central Bank (ECB), or the International Monetary Fund (IMF).
The detailed causes of the debt crisis varied. In several countries, private debts arising from a property bubble were transferred to sovereign debt as a result of banking system bailouts and government responses to slowing economies post-bubble. The structure of the eurozone as a currency union (i.e., one currency) without fiscal union (e.g., different tax and public pension rules) contributed to the crisis and limited the ability of European leaders to respond. European banks own a significant amount of sovereign debt, such that concerns regarding the solvency of banking systems or sovereigns are negatively reinforcing.
Saudi Arabia (i/ˌsɔːdiː əˈreɪbiə/, i/ˌsaʊ-/), officially known as the Kingdom of Saudi Arabia (KSA), is an Arab state in Western Asia constituting the bulk of the Arabian Peninsula. With a land area of approximately 2,150,000 km2 (830,000 sq mi), Saudi Arabia is geographically the second-largest state in the Arab world after Algeria. Saudi Arabia is bordered by Jordan and Iraq to the north, Kuwait to the northeast, Qatar, Bahrain, and the United Arab Emirates to the east, Oman to the southeast, and Yemen to the south. It is the only nation with both a Red Sea coast and a Persian Gulf coast, and most of its terrain consists of arid inhospitable desert or barren landforms.
The area of modern-day Saudi Arabia formerly consisted of four distinct regions: Hejaz, Najd, and parts of Eastern Arabia (Al-Ahsa) and Southern Arabia ('Asir). The Kingdom of Saudi Arabia was founded in 1932 by Ibn Saud. He united the four regions into a single state through a series of conquests beginning in 1902 with the capture of Riyadh, the ancestral home of his family, the House of Saud. The country has since been an absolute monarchy, effectively a hereditary dictatorship governed along Islamic lines. The ultra-conservative Wahhabism religious movement within Sunni Islam has been called "the predominant feature of Saudi culture", with its global spreading largely financed by the oil and gas trade. Saudi Arabia is sometimes called "the Land of the Two Holy Mosques" in reference to Al-Masjid al-Haram (in Mecca), and Al-Masjid an-Nabawi (in Medina), the two holiest places in Islam. The Kingdom has a total population of 28.7 million, of which 20 million are Saudi nationals and 8 million are foreigners.
Counting the Cost, or in the NIV: The Cost of Being a Disciple or in the NRSV: The Cost of Discipleship or in the NKJV: Leaving All to Follow Christ, are titles given to the Gospel of Luke passage 14:25-33 which includes a pair of parables told by Jesus. The first title comes from the phrase "count the cost", which occurs in the King James Version of the passage, as well as some other versions.
The two parables are as follows:
Joel B. Green suggests that it is unclear what kind of tower is being referred to in the first parable, but notes that the message is that a "thoroughgoing fidelity to God's salvific aim" is required, "manifest in one's identity as a disciple of Jesus." This involves putting family and possessions second, as in Matthew 8:18-22 and Luke 9:57-62.
Feb. 12 (Bloomberg) -- At the heart of the European debt crisis is the euro, the currency that tied together 18 countries in an intimate manner. So when one country teeters on the brink of. Fact: America's national debt stands at $17 trillion. That's a tough number to grasp. Most people will never come close to making $1 million in any given year. How can we understand the magnitude. A short, visual explanation of Japan's debt crisis by @affalytics ( The latest on Japan's Debt Problem: Donate Bitcoin to support our.
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Greece is in a state of economic and financial crisis that's dominated global headlines this week. Vox's Matt Yglesias explains the real roots of the crisis. For our more on the Greek crisis: http://www.vox.com/cards/eurozone-crisis Subscribe to our channel! http://goo.gl/0bsAjO Vox.com is a news website that helps you cut through the noise and understand what's really driving the events in the headlines. Check out http://www.vox.com to get up to speed on everything from Kurdistan to the Kim Kardashian app. Check out our full video catalog: http://goo.gl/IZONyE Follow Vox on Twitter: http://goo.gl/XFrZ5H Or on Facebook: http://goo.gl/U2g06o
Featuring: Andrew Rose, Associate Dean for Academic Affairs and Chair of the Faculty; Bernard T. Rocca, Jr. Chair in International Business & Trade; Berkeley-Haas Professor Andrew Rose's research and teaching explores why the Euro crisis happened, explains why it's not over yet, and shares why we should care about it.
Clip from Al Murray's DVD "The Only Way is Epic" 2012 Euro crisis explained with national stereotypes (Polish joke included)
You may have heard about some measures taken by the Euro-countries to stabilize the economy and the Euro. But what has Greece to do with all of that? What is an "emergency parachute"? And how do Eurobonds come into play? explainity tries to shed some light on the issue. By the way: Sorry for the german accent;-) This explainer video was produced by explainity GmbH Homepage: www.explainity.com E-Mail: info@explainity.com If you are interested in an own explainity explainer video, visit our website www.explainity.com and contact us. We are looking forward to your inquiry. You are welcome to use this explainer video for your own purpose and website. Keep in mind that this explainer video must not be altered in regards to content and graphics. If you decide to use it, please credit explaini...
In this documentary, Wall Street Journal editors and reporters examine the origins of Europe's debt crisis and why it spread with such ferocity to engulf much of the continent and threaten the entire world.
Government bonds are usually a safe place for people to park their money in times of economic uncertainty. But how uncertain must times be if German investors are buying up government bonds for almost no returns? That's what happened this past week - the return on the 10-year 'German Bund' fell below zero for the first time ever, meaning people are effectively paying the German government for the privilege of holding their money. This is something that hasn't been seen before and seems to indicate that Europe's economic problems are not going away. Low interest rates in combination with the new bond purchase phenomenon points to the issues becoming even worse, yet again. Former Greek Finance Minister Yanis Varoufakis claims that Europe has failed in responding rationally to the initial c...
~subscribe: http://youtube.com/NigelFarageFans ~credits video: http://youtube.com/europarl - support: http://ukip.org/donations | http://ukipmeps.org | http://twitter.com/Nigel_Farage • European Parliament, Strasbourg, 13 March 2013 • Speaker: Nigel Farage MEP, Leader of the UK Independence Party (UKIP), Co-President of the 'Europe of Freedom and Democracy' (EFD) Group in the European Parliament - http://nigelfaragemep.co.uk • Debate: Preparations for the European Council meeting (14-15 March 2013) Council and Commission statements [2012/2803(RSP)] With a resolution on the European Council conclusions of 7-8 February concerning the Multiannual Financial Framework Transcript: Well, the air is thick with denial in this chamber this morning. There has been a major political event since ...