LEAP Revue de presse NM/E2020 - Crise systemique globale / Global Systemic Crisis

GLOBAL SYSTEMIC CRISIS In This Issue: • GEAB quote - Second half of 2010: Sudden intensification of the global systemic crisis – Strengthening of five fundamental negative trends • Dettes : le plan de sauvetage européen est opérationnel • Broke US States Pose Growing Threat to Recovery • Mass strikes loom in a 'winter of discontent' for UK Government • 99 Weeks Later, Jobless Have Only Desperation • Dans les bâtiments vides en Chine peut régler la Russie, l’Ukraine et la Biélorussie • China Said to Test Banks for 60% Home-Price Drop • Service sector growth slows as Osborne's cuts bite Featured Links • LEAP / Europe 2020 • GlobalEurope Anticipation Bulletin (website) • Global systemic crisis - All our selected news • GlobalEurope Press Review (NM blog) GEAB quote - Second half of 2010: Sudden intensification of the global systemic crisis – Strengthening of five fundamental negative trends LEAP/E2020 is of the view that the effect of States’ spending trillions to « counteract the crisis » will have fizzled out. These vast sums had the effect of slowing down the development of the systemic global crisis for several months but, as anticipated in previous GEAB reports, this strategy will only have ultimately served to clearly drag States into the crisis caused by the financial institutions. Therefore our team anticipates, in this 42nd issue of the GEAB, a sudden intensification of the crisis in the second half of 2010, caused by a double effect of a catching up of events which were temporarily « frozen » in the second half of 2009 and the impossibility of maintaining the palliative remedies of past years. LEAP/E2020 (GEAB N°42, February 16, 2010) Dettes : le plan de sauvetage européen est opérationnel Le Fonds européen de stabilité financière est désormais prêt à fonctionner si un Etat n'arrive plus à financer sa dette. Certains analystes avaient douté qu'il verrait réellement le jour. Le Fonds européen de stabilité financière (FESF) de 440 milliards d'euros est devenu pleinement opérationnel cette semaine. Il peut désormais venir en aide à un pays européen qui serait sur le point de faire faillite. Le Figaro Broke US States Pose Growing Threat to Recovery The U.S. economy may sink perilously close to another slump, as cities and states cut jobs and curb spending to balance their recession-ravaged budgets. US Capitol Building with cash Two-thirds of the 50 states projected budget gaps for their current fiscal year. They started out the period with a cumulative $84 billion hole, government associations estimate, an amount equal to 0.6 percent of total U.S. output. CNBC Mass strikes loom in a 'winter of discontent' for UK Government The Government must win the "hearts and minds" of public sector staff to gain their trust ahead of swingeing cuts or face mass strike action in a winter of discontent, an employers' group has warned. Whitehall has been urged to bolster employee consultation and communication during the toughest cutbacks in decades, or risk staff siding with trade unions to cause mass disruption to services, according to the Chartered Institute of Personnel and Development. Telegraph 99 Weeks Later, Jobless Have Only Desperation Facing eviction from her Tennessee apartment after several months of unpaid rent, Alexandra Jarrin packed up whatever she could fit into her two-door coupe recently and drove out of town. Ms. Jarrin, 49, wound up at a motel here, putting down $260 she had managed to scrape together from friends and from selling her living room set, enough for a weeklong stay. It was essentially all the money she had left after her unemployment benefits expired in March. Now she is facing a previously unimaginable situation for a woman who, not that long ago, had a corporate job near New York City and was enrolled in a graduate business school, whose sticker is still emblazoned on her back windshield. CNBC Dans les bâtiments vides en Chine peut régler la Russie, l’Ukraine et la Biélorussie Selon les rapports de Beijing, la State Grid Corporation of China (SGCC) a récemment publié un “mystérieux” du rapport. Il s’ensuit que, dans 65,4 millions maisons et appartements dans 660 villes à travers le pays au cours des six derniers mois a été observée à zéro la consommation d’électricité. Cela signifie que, dans leur personne ne vit. Comme tant de maisons pourraient facilement être 200 millions de personnes. Environ autant de la population totale de la Russie, l’Ukraine et la Biélorussie. Monetary Crisis China Said to Test Banks for 60% Home-Price Drop China’s banking regulator told lenders last month to conduct a new round of stress tests to gauge the impact of residential property prices falling as much as 60 percent in the hardest-hit markets, a person with knowledge of the matter said. Banks were instructed to include worst-case scenarios of prices dropping 50 percent to 60 percent in cities where they have risen excessively, the person said, declining to be identified because the regulator’s requirement hasn’t been publicly announced. Previous stress tests carried out in the past year assumed home-price declines of as much as 30 percent. Bloomberg Service sector growth slows as Osborne's cuts bite Public sector cuts limit services sector to slowest growth in a year, services PMI survey shows. The government's wave of public sector cuts knocked growth in the services sector to its lowest in a year last month, according to a closely watched survey today that raises more concerns about the pace of the economic recovery. Guardian This special Press Review reviews articles from the French and Engligh-speaking international online media relating to the unfolding global crisis. It is delivered freely on a weekly basis to 60,000 recipients worldwide. Subscription / Contact: centre@europe2020.org To unsubscribe: click below