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	<title>Forex News &#187; International Monetary Fund</title>
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		<title>Global Bank Tax Deal Near, UK&#8217;s Brown Says</title>
		<link>http://www.forex-tradings.us/business-news/global-bank-tax-deal-near-uks-brown-says.html</link>
		<comments>http://www.forex-tradings.us/business-news/global-bank-tax-deal-near-uks-brown-says.html#comments</comments>
		<pubDate>Thu, 11 Feb 2010 14:50:43 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Business News]]></category>
		<category><![CDATA[bank transactions]]></category>
		<category><![CDATA[Global Bank]]></category>
		<category><![CDATA[International Monetary Fund]]></category>
		<category><![CDATA[multibillion dollar]]></category>
		<category><![CDATA[Washington D.C]]></category>

		<guid isPermaLink="false">http://www.forex-tradings.us/?p=80</guid>
		<description><![CDATA[Leaders from the world&#8217;s top economies are close to agreeing on a global bank tax and a deal could be reached at a meeting of the Group of 20 nations later this year, according to British Prime Minister Gordon Brown. The Financial Times newspaper reported on Thursday that Brown believes opinion has shifted decisively in [...]]]></description>
			<content:encoded><![CDATA[<p>Leaders from the world&#8217;s top economies are close to agreeing on a global bank tax and a deal could be reached at a meeting of the Group of 20 nations later this year, according to British Prime Minister Gordon Brown.</p>
<p>The Financial Times newspaper reported on Thursday that Brown believes opinion has shifted decisively in favor of a globally coordinated tax after U.S. President Barack Obama&#8217;s move last month to raise $90 billion from a U.S. bank levy.</p>
<p>&#8220;I&#8217;m interested in the way support is building up for international action,&#8221; Brown was quoted as saying.</p>
<p>Brown mooted a tax on bank transactions to cover the cost of the multibillion dollar bailouts of 2008 and 2009 at a meeting of G-20 finance officials in November last year.</p>
<p>That suggestion was dismissed by the United States, which instead announced its tax on wholesale funding.</p>
<p>Finance officials from the Group of Seven, who met in Canada over the weekend, played down differences on domestic banking reforms. A British official at the talks said that momentum for a levy was growing, although the details had not been agreed.</p>
<p>&#8220;People are now prepared to consider the best mechanism by which a levy could be raised,&#8221; Brown told the Financial Times.</p>
<p>The International Monetary Fund is contemplating the issue as it prepares a report on options for requiring banks to &#8220;make a fair and substantial contribution&#8221; towards bailouts. The report is due to be published in April, before its annual spring meeting in Washington D.C.</p>
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		<title>Is Greece&#8217;s debt trashing the euro?</title>
		<link>http://www.forex-tradings.us/forex-trading/is-greeces-debt-trashing-the-euro.html</link>
		<comments>http://www.forex-tradings.us/forex-trading/is-greeces-debt-trashing-the-euro.html#comments</comments>
		<pubDate>Sun, 07 Feb 2010 10:02:28 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Forex Trading]]></category>
		<category><![CDATA[budgets]]></category>
		<category><![CDATA[Dimitris Damianidis]]></category>
		<category><![CDATA[Greece]]></category>
		<category><![CDATA[International Monetary Fund]]></category>

		<guid isPermaLink="false">http://www.forex-tradings.us/?p=66</guid>
		<description><![CDATA[ATHENS: Dimitris Damianidis is a high school teacher and a strong supporter of Greece’s socialist government.But that won’t deter him from going on strike with hundreds of thousands of other public sector workers next week to fight for the 28,000-euro pension that he expects to receive annually after he turns 60 next year. “Why should [...]]]></description>
			<content:encoded><![CDATA[<p>ATHENS: Dimitris Damianidis is a high school teacher and a strong  supporter of Greece’s socialist government.But that won’t deter him from going on strike with hundreds of thousands of other public sector workers next week to fight for  the 28,000-euro pension that he expects to receive annually after he turns 60  next year.</p>
<p>“Why should I as a worker pay for the errors in  policies?” he asked, in response to reports that the embattled Greek state will  cut his pay and, by extension, retirement benefits. “The worker can’t be the  scapegoat. So we have to defend ourselves.”</p>
<p>As Damianidis  and others on the state payroll prepare to stop work on Wednesday, fear is  building that the country’s new government may lack the nerve to cut public  wages and pension payments, which make up 51 percent of its budget.</p>
<p>Over the past decade, Greece took full advantage of a  strong euro and rock-bottom interest rates to fuel a debt binge by the country’s  consumers and its government. This year, if Greece can’t persuade investors to  buy 53 billion euros of its government debt, it may have to seek a bailout from  its European Union brethren or the International Monetary Fund – or, worse,  default.</p>
<p>The stakes are high, not just for Greece but for  the entire euro zone, where efforts to forge a common economic identity are  threatened by the financial crisis. Last week, the panic spread to Portugal and  Spain, and the cost of insuring their debt against a default soared to record  levels as investors bet that, like Greece, governments in those countries won’t  be able to rein in bloated budgets.</p>
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