Economy, Economic Crisis | featured news

Policymakers have lost control of the economic crisis and financial markets are forcing the world into a depression, George Soros said on Friday, urging Europe to create a common Treasury, recapitalize its banks and protect vulnerable states.

Thousands of South Asian migrants have left Greece in recent months to escape the country's growing economic crisis, community leaders tell the BBC.

The euro zone's economic crisis is over and it is now enjoying a broad-based recovery, Bank of France Governor Christian Noyer said.

Fueling the demonstrators’ anger is the perceived failure by politicians to alleviate the hardships imposed on a struggling population by a jobless rate of 21 percent.

The world's major nations have put together a new monitoring process that they hope will halt the types of destabilizing economic imbalances that contributed to the worst global downturn since World War II....

The government panel, the Financial Crisis Inquiry Commission blames: Banks that made reckless bets, credit rating agencies that endorse risky mortgage-backed securities and government regulators who overlooked warning signs until they threatened the global financial system.

Cut spending, raise taxes and fees, and accept billions of dollars from Congress. That's been the formula for states trying to survive the worst economy since the 1930s.

Banks are finally beginning to lend, the big ones that is. Commercial and industrial lending is up this quarter 0.2% from the third quarter, according to Moody's Analytics. That might not sound like much, but it's the first quarterly increase in two years. This is great, right? After all, if banks are lending more to businesses, they can expand and begin to hire. That's true, but this trend reveals something else: the financial crisis has created an environment where big banks are getting bigger, as the small ones struggle.

Santa Claus and his elves are seeing more heartbreaking letters this year as children cite their parents' economic troubles in their wish lists. ...

Life expectancy in the United States fell in 2008, the first full year of a grueling recession that saw mixed effects, both good and bad, on the nation’s health, according to new government data.