Economy
The European Union’s Role in the Cyprus Financial Crisis
The European Union drove a pretty tough bargain on the Cyprus bailout deal. As a result some bank costumers in Cyprus are having to swallow some pretty bitter medicine.
The Polluter Pays Principle: Mexico Considers Chewing Gum Tax
Discarded chewing gum is a common eyesore, and removing it from city streets and sidewalks can be costly. A Mexican congressman wants to solve the problem by borrowing a concept widely used in environmental regulation: making the polluters pay.
Undocumented Immigrants Work to Come Out of the Fiscal Shadows, Pay Taxes
With April’s tax deadline nearing, people in the US are starting to organize their paperwork. And it may come as a surprise to know that many undocumented immigrants also pay up. But anxiety is building as a pathway to citizenship may require paying years of back taxes. Feet in Two Worlds reporter Aurora Almendral has this story.
Spanish Protest Evictions at Doorsteps of Political Elite
Spanish government officials, these days, are dealing with a political hot potato these days. The country has one of the highest number of residential evictions in Europe. And as The World’s Gerry Hadden says the Spaniards are “not taking it anymore.”
Russia’s Interest in Resolving the Financial Crisis in Cyprus
Uncertainty continues about the bank bailout deal in Cyprus, where banks are closed and ATMs emptied out. The Guardian correspondent Miriam Elder is in Cyprus’ second largest city, Limassol, home to a large Russian expat community, and sometimes referred to as “LimassolGrad.”
In Post-Revolution Egypt, Businesses on the Brink
It’s been just over two years since the revolution that toppled Egypt’s longtime dictator Hosni Mubarak. The transition to democracy has been anything but smooth and is affecting the country’s economy in drastic ways. Local businesses are feeling the pinch-especially those located near Tahrir Square.
Need for Cyprus Financial Bailout Sparks Protests, Concern in Europe
Cyprus, like its Mediterranean neighbor Greece, needs a financial bailout. But a plan by the European Union to partially pay for the bailout with a tax of up to 10 percent on customers’ bank deposits sparked protests and a run on ATMs in Cyprus. And that’s got the rest of Europe worried about contagion.
How Cypriots Could be Impacted by the Tax on Bank Deposits
Lawmakers in Cyprus are set to vote on a bailout plan that would tax all bank deposits by 6.25 percent. Stavros Zenios is a professor of finance at the University of Cyprus in Nicosia and is one of many people whose savings would be affected if the measure is adopted.
After Fukushima, An Energy Tug-of-War in Japan
Two years after the Fukushima nuclear disaster, renewable energy is surging in Japan. But economic pressures are also helping revive support for nuclear power, leading to an internal tug-of-war over Japan’s energy future.
Extended Use: Europe’s Old Churches Finding New Life as Starbucks, Circus School
With the continuing economic crisis in Europe, many of the continent’s churches are struggling to stay open. A new movement called “extended use” is trying to save the old buildings, some of which are architectural wonders. The plan includes using some church buildings for circus schools and Starbucks shops.
H-1B Skilled-Worker Visas Under Fire
For some foreigners, the H1B, a temporary, skilled-worker visa, is one way to work legally in the US and big tech companies are typically the places sponsoring the visa–and they snap them up fast. Some argue that companies pay H1B holders less than their American counterparts, while foreigners can feel shackled to their employers.
Sequestration Could Impact Israel’s ‘Iron Dome’ Missile Defense
Israel gets billions of dollars from Washington every year, and most of it is discretionary spending. If the sequestration cuts go through in full, it could put a serious squeeze on Israel’s defense budget. Anchor Marco Werman discusses the issues with Haviv Rettig Gur of the Times of Israel who’s been crunching the numbers.
Why Crisis-Weary Greeks Seek Respite in Turkey
With a booming economy and cosmopolitan energy, Istanbul, Turkey is becoming an increasingly attractive location for young, educated Greeks.
How to Avoid Eviction in Spain, If You’re a Duke
Spain’s fiscal crisis has lead to hundreds of thousands of evictions. A member of Spain’s royal family is even among those having trouble paying the mortgage, but apparently the Duke of Palma doesn’t have to worry about losing his home. His bank has given him a four-year reprieve on payments.
Economic and Political Ripple Effects Felt From Italian Elections
The effects from Italy’s fractured election results are likely to cause problems in the Eurozone and beyond, including here in the United States.
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