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Countdown to Financial Armageddon
Tracking the final days of the debt bubble
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UK High street gloom continues as festive shopping slumps

UK High street gloom continues as festive shopping slumps | Countdown to Financial Armageddon | Scoop.it

Sales figures from the British Retail Consortium for November have added to the gloom about the high street, suggesting customers are just not spending as much as last year.

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Italy's bond spike: the austerity death spiral has begun

Italy's bond spike: the austerity death spiral has begun | Countdown to Financial Armageddon | Scoop.it

Every time I refresh my browser, Italian bond yields seem to have climb another percentage point. They breached the 7 per cent level - considered just about sustainable – about an hour ago and have been climbing rapidly ever since.

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Humiliated Berlusconi 'agrees to IMF oversight' of austerity measures

Humiliated Berlusconi 'agrees to IMF oversight' of austerity measures | Countdown to Financial Armageddon | Scoop.it

Silvio Berlusconi, the Italian Prime Minister, has agreed to allow International Monetary Fund oversight of the debt-ridden country's progress
in implementing austerity measures.

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Greek clashes amid general strike

Greek clashes amid general strike | Countdown to Financial Armageddon | Scoop.it

Greek protesters angry at the government's austerity policies clash with police, as a 48-hour general strike paralyses the country.

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Mario Draghi fears Italian debt spiral

Mario Draghi fears Italian debt spiral | Countdown to Financial Armageddon | Scoop.it

Italy risks a debt spiral without "drastic" steps to cut spending and restore confidence in public finances, the country's central bank governor has warned.

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Welcome to the living dead economy

Welcome to the living dead economy | Countdown to Financial Armageddon | Scoop.it

A eurozone that somehow stays afloat but can't be reformed, banks awash with cash that don't lend, and incoherent economic policy. We've only found a sticking-plaster solution to our crisis

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France cuts frantically as Italy nears debt spiral

France cuts frantically as Italy nears debt spiral | Countdown to Financial Armageddon | Scoop.it

France has unveiled the toughest austerity measures since World War Two despite the looming danger of a double-dip recession, vowing to slash borrowing by €65bn over the next five years in a last-ditch effort to save the country's AAA...

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Italy's 'shock therapy' as eurozone manufacturing buckles

Italy's 'shock therapy' as eurozone manufacturing buckles | Countdown to Financial Armageddon | Scoop.it

Europe is sliding into a full-blown industrial recession with contraction spreading to Germany and a drastic decline under way in Italy, greatly complicating efforts to contain the region’s debt crisis.

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Moody's cuts Spain's debt rating

Moody's cuts Spain's debt rating | Countdown to Financial Armageddon | Scoop.it

Moody's follows other ratings agencies in downgrading Spanish government debt, in response to the eurozone debt crisis.

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THE BUBBLE AND SQUEAK ERA: Cash-strapped households turn to leftovers

THE BUBBLE AND SQUEAK ERA: Cash-strapped households turn to leftovers | Countdown to Financial Armageddon | Scoop.it

The number of Britons cooking with leftovers to feed their families has risen dramatically in recent months as cash-strapped shoppers try to make their household budgets stretch further.

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