You are hereArchive - Oct 13, 2010

Archive - Oct 13, 2010

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Crisis & solution: Japan cuts interest rates to zero; Italy & Greece receive stimulus package from China

Italian Premier Silvio Berlusconi, shakes the hand of Chinese Premier Wen Jiabao, right, as they arrive for a joint news conference at Villa Madama in Rome

after nearly two weeks of demonstrations, Greek farmers used their tractors to block border crossings and highways across the country for days, demanding financial help from the government. A farmer hits a riot police officer with his crook at the main port of Piraeus, near Athens, Feb. 2, 2009

Greek Prime Minister Papandreou spoke on Greece's economic plight at the World Economic Forum in Davos.

Low rates in Japan and US have yet to boost economies.

(quote)

Bank of Japan surprised the world by cutting it's already low-interest rates to effectively zero.

The Japanese central bank is trying to boost its weak economy by making it cheaper for its businesses and citizens to borrow. It also hopes that the low-interest rates will cause the value of its currency, the yen, which has been rising recently, up 12% in the past six months alone, to fall. A weaker yen could boost exports by making Japanese goods cheaper to foreigners. read more »

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