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Countdown to Financial Armageddon
Tracking the final days of the debt bubble
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On Brink of Failure, U.S. Debt Committee Says It's Gridlocked

On Brink of Failure, U.S. Debt Committee Says It's Gridlocked | Countdown to Financial Armageddon | Scoop.it

While Europe has all the attention, the US debt crisis is about to hit the headlines again (and for the wrong reasons)...

 

On the brink of failure, members of a special deficit-cutting committee blamed each other Sunday for the intransigence that has gridlocked the panel in its quest to cut the deficit by at least $1.2 trillion over the coming decade.

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December deadline won't mark end of debt fight

December deadline won't mark end of debt fight | Countdown to Financial Armageddon | Scoop.it

WASHINGTON (Reuters) - December looms as the deadline for tackling a fiscal mess punctuated by a $14.8 trillion national debt. But it's December 2012, not 2011, that is really worth keeping an eye on

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ECB Called For Italy Budget Cuts by End of September - Will They Comply?

ECB Called For Italy Budget Cuts by End of September - Will They Comply? | Countdown to Financial Armageddon | Scoop.it

A leaked letter reveals the European Central Bank told Italy to make big changes to its labour laws and take action to cut its deficit.

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US Debt committee: Why $1.2 trillion isn't enough to stop the accumulated debt from growing faster than the economy

US Debt committee: Why $1.2 trillion isn't enough to stop the accumulated debt from growing faster than the economy | Countdown to Financial Armageddon | Scoop.it

Sometimes less is more. But when it comes to deficit reduction, if the debt committee aims only for the bare minimum of $1.2 trillion, it won't move the needle much on the country's fiscal predicament.

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SELLING THE FAMILY SILVER: Italy to Dispose of National Assets in Hope of Reducing Debt

SELLING THE FAMILY SILVER: Italy to Dispose of National Assets in Hope of Reducing Debt | Countdown to Financial Armageddon | Scoop.it

Italy's economy minister announced plans to make better use of state assets to ease the country's €1.9 trillion public-debt load and spur economic growth.

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