There is an European Commission budgetary proposal to boost E.U. funding for science and technology
by 45% from €55B to €80B by trimming some fat form the controversial
Common Agricultural Policy. [more inside]
Latvia's Tiger Economy Loses Its Bite
: Less than a year after Latvia joined the E.U. in 2004, its growth rate topped all of Europe. As global stock markets overheated and competition for investment opportunities intensified, Scandinavian banks showered Latvia with cheap credit.
Now, with the highest unemployment in Europe
, and propped up by $10 billion in IMF loans
, Latvia's economy struggles to stay afloat.
The economy is abjectly terrible, right? It's so bad that nowadays, a picture is only worth 200 words
. On the other hand, the recession is over in Germany and France
, and in the United States, the unemployment
rate dropped just a smidgen
last month. [more inside]
Why Big Oil Backed The Fuel Protests In Europe
-- "Watched from a distance, the oil blockades in Britain look like spontaneous popular uprisings: regular working folk, frightened for their livelihoods, getting together to say, "Enough's enough." But before this David and Goliath story goes any further, it deserves a closer reading...."