MSM: Dollar Reaches Breaking Point as Banks Shift Reserves

(Bloomberg) – Central banks flush with record reserves are increasingly snubbing dollars in favor of euros and yen, further pressuring the greenback after its biggest two- quarter rout in almost two decades. Continue reading

Iceland: New government pledges continuation of IMF austerity programme

Iceland’s new coalition government between the Social Democratic Alliance and the Left-Green Party was formed February 1 after negotiations with the Progressive Party over its parliamentary support. Although the new administration came to power promising significant changes to government and the financial sector, the direction of the SDA-led government will be a continuation of previous policies. Continue reading

MSM: Icelanders protest economic meltdown

REYKJAVIK, Iceland: Thousands of Icelanders marked the 90th anniversary of their nation’s sovereignty with angry protest Monday, and several hundred stormed the central bank to demand the ouster of bankers they blame for the country’s spectacular economic meltdown.
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