In July 1969, Prime Minister Indira Gandhi sacked Minister of Finance and herself started to carry out the work. The next day she ordered to take complete control of the state's 14 largest private banks in India. Indian people greeted the nationalization of financial institutions with rejoicing in the streets - at the time, banks were perceived as servants of the rich, who have ignored the needs...

The European Parliament (EP) at its plenary session in Strasbourg passed a resolution which criticizes the justice system and the media situation in Turkey and urges to respect freedom of speech. - MEPs are concerned about the situation with the independence, impartiality and effectiveness of the justice system and the separation of powers in Turkey. The Turkish government must also guarantee the...

South Europe is imposed to not only currency too strong for them, which was somehow over the top for the north of Europe, but also to the austerity program, which made no sense, said a member of the Royal Academy of Belgium Bruno Colmant. Imposing southern European members of the EU to Euro was a mistake, what, in particular, has resulted in the current crisis in Greece, says the economist,...

The evacuation of local residents started within a radius of two kilometers, and "black rain" was spotted in the village near the oil depot burning. There are different versions of the incident: from arson to a technical error when working with oil. Large fire at oil depot in the village of Kryachko, Kiev region, which broke out on Monday evening, has not yet been fought - sixteen of seventeen...

The EU imposed the arms embargo on the movement of Houthis and imposed targeted sanctions against their leader Abdel Malek al-Howes and Ahmed, the son of ex-President Ali Abdullah Saleh of Yemen, said, the press service of the Council of the European Union this Monday in Brussels. As stated in the communique, the decision is based on resolution 2216 (2015) of the Security Council of 14 April....

United Kingdom’s new government step in to provide a concessional price for electricity and gas by giving ‘price-call’ notice to the major six energy firms of the country. Thestrategist.media – 06 June 2015 – B.B.C. News reports that the new government of the United Kingdom is exercising pressure on the countries “major energy suppliers” on their sale rates. In this regard, Ms. Amber Rudd, U.K’s...

Australian Insurance companies have been facing huge losses over repeated natural calamities. The last tragic series of storms ravaging New South Wales, Queensland and some other parts has caused massive losses to both lives and properties. The ICA has been proactive in handling insurance claims and promising quick service to help people build up their lives back. Storms that ravaged Australia...

Amidst Greece’s continuing troubles with its debt-ridden economy, proposals of austere sanctions by European leaders have been tagged unrealistic by the Greek government. Bailout funds have been stuck between constant negotiations. A potential defaulting by Greece or its exit out of Eurozone has been worrying most of Europe, as of now. The Greek government is yet to rally out of the financial...

Things are improving in the euro area a bit: an increase of 0.4% in I quarter (1.6% annualized) was the highest figure in the last two years; unemployment fell to 11.1%, its lowest level in three years; inflation went up again. But even if economic statistics continue to improve, the euro zone expect a comprehensive crisis in the near future. The economic slowdown and the depletion of public...