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Originally posted by andy1033
reply to post by Vitchilo
I would not think this will happen.
The european union is a dream they have wanted for along time.
As Bloomberg reports (via @zerohedge), Citigroup (C), JPMorgan (JPM), and Bank of America (BAC) also booked perfect quarters.
The trade deficit in the U.S. widened in March to the highest level in more than a year as imports climbed faster than exports, adding to evidence of the global recovery from the worst recession in the post-World War II era.
The gap grew 2.5 percent to $40.4 billion, in line with the median forecast in a Bloomberg News survey, Commerce Department figures showed today in Washington. The value of goods sold overseas and those purchased abroad, led by a surge in oil demand, rose to the highest levels since October 2008.
A rebounding American consumer, combined with business spending on equipment and inventories, means imports may keep growing. Exports will probably also improve as expanding economies in Asia and Latin America, which are giving companies such as Cummins Inc. and Dow Chemical Co. a lift, counter any drag from Europe as the debt crisis hurts the euro.
The Senate’s two ranking members on the Foreign Relations Committee sent a letter to President Barack Obama Friday urging him to move forward with a stalled trade pact with South Korea, claiming that the free trade agreement would create much-needed jobs and wealth in the U.S.
Sen. John Kerry (D-MA), the chairman of the committee, along with Sen. Dick Lugar (R-IN), the ranking minority member of the committee, asked the president to resolve any outstanding issues between the two nations in a timely fashion and send the three-year-old deal to Congress for ratification.
The order in which those requests are carried out seem to be a trivial concern for the senators. They claim that sending the trade pact to Congress would be a sign of good faith that could entice South Korea to open up its market to U.S. exports that are now virtually excluded.
Spain will cut civil servants' salaries this year as part of a deficit-reduction plan to ease worries the country will slide into a debt crisis like that of Greece, the prime minister announced Wednesday.Jose Luis Rodriguez Zapatero told Parliament the average 5 percent reduction starting in June is part of a cost-cutting plan, first announced Sunday, that also includes a suspension in automatic inflation-adjustments for retirement pensions, a drop in overseas aid, a reduction in government investment and elimination next year of a euro2,500 ($3,200) tax rebate for couples that have babies or adopt a child.
Police say officers staffing the wrought-iron gates drew batons and forced back several dozen protesters. They said the protesters' injuries were minor and none were arrested.
Tens of billions' worth of dud property loans are being transferred from five Irish banks to a new government-run "bad bank." The government also has bought multi-billion stakes in Allied Irish Banks and Bank of Ireland.