In medieval Italy, when a trader did not repay debts, his stall got destroyed so hard that he could no longer do business. The word "bankruptcy" came from the Italian expression banco rotto, or "destroyed shop." Modern bankruptcy law in Italy is not so cruel (although until 2006, the debtors lose the right to vote, and liquidators read all their mail). However, this procedure is painful and slow,...

With VISA free travel in between Gulf States, officials worry that the local bombing could be used a model for other wannabe suicide bombers. When a wanna-be Saudi Arabian suicide bomber flew in to Kuwait to carry out one of the worst militant attacks on innocent and disarmed civiliants, sympathisers to the Islamic State had made preparations such that a driver and car to pick him up and take him...

Greece cannot return to print drachmas, as the country no longer has relevant printing machines, said Finance Minister Janis Varoufakis. According to Varoufakis, in 2000, when Greece joined the euro area, the authorities were quick to get rid of the print machines, because they were convinced that now the country will always be in the back of the single European currency. - We destroyed all the...

Not everyone in Europe knows that US has its own Greece. In the words of economist Rudiger Dornbusch, "the crisis matures for much longer than you think, and much faster than you could imagine ... He approaches forever, and happens overnight." So the Puerto Rican crisis is. It has been ripening for a long time, but its scale reached the Americans over the weekend, when the governor of Puerto...

It used to be said that the world manufactured in China. But Beijing’s systematic interference in its own financial system has created a havoc and has cooled its surging economy. On Wednesday, the World Bank verbally communicated its displeasure to China for its systematic intrusive interference in its financial system, making it clear that these will only go to potentially create instability in...

Collecting donations for the restoration of the Greek economy is initiated by Briton Thom Feeney on crowdfunding site IndieGoGo. At the time of this writing, users have sacrificed one hundred thousand euros in less than three days, reports BBC. - This is not a joke. Crowdfunding can really help. You just need to get together and do it. I'm tired of looking like the Greek crisis is repeated from...

As indicated by a Pew Research Center review graphing the expanding hostility in the middle of Russia and the West, half or a greater amount of general society in most NATO countries think about Russia as a noteworthy military danger to its neighbours. No place is concern higher than in Poland where 7 out of each 10 individuals say Moscow represents a noteworthy risk in Eastern Europe. The...

The Greek obligation emergency is at a noteworthy defining moment and could soon get the nation into an irreversible emergency while making a mark in the tackle of the euro zone, with conceivable further results for other part states. Yet the two sides appear to have come close and just a couple of billion euro remain between the bundle proposed by the EU side in Brussels, and the option rundown...

In the wake of taking after the Greek emergency for a long time, I don't think I've ever been as cynical about the potential for an answer for be found to keep Greece in the Eurozone. Each time it appears to be as though the transactions are making a stride forward they make two strides back. Moreover, the strides in reverse frequently appear to come back to past focuses which you thought had...