Articles by Patrick Perkins

Europe debate over bailout fund nears decision

Greece announced that it will not be able to hit its projected deficit target for 2011 this past Sunday. In order to correct these problems, Greece has conjured up yet another austerity plan to further tighten the countries spending going into 2012. According to The Wall Street Journal, Greece’s deficit this year, which is approximately…

IMF warns of ‘dangerous new phase’ for world economy

Investors aren’t taking to the ongoing talk about Greece’s looming default lightly. On Monday, the European markets witnessed a sharp down turn. According to The New York Times, the euro Stoxx 50 index retreated 2.9 percent. The FTSE 100 shed 2 percent in London, and the DAX dropped 2.8 percent in Frankurt. Some expert economists…

Greece’s debt woes push rest of EU to financial frustration

It has been more than a year since Greece announced its financial troubles to the world.  Since then Greece’s debt has been exacerbated by the failure to conjure up a sound recovery plan. The European Union has provided Greece with two bail-out packages to no avail thus far.  Most recently, on Sunday the global market…

AT&T and T-Mobile merger blocked

The U.S. Department of Justice filed a suit against AT&T against the cellular phone giant’s $39 billion dollar acquisition of T-Mobile USA. “The department filed its lawsuit because we believe the combination of AT&T and T-Mobile would result in tens of millions of consumers all across the United States facing higher prices, fewer choices and…

Egypt prepares for democracy

After several days of unrest, Hosni Mubarak finally stepped down from his 30-year reign last Friday and a transition of power to the armed forces took place. More than two weeks of nonstop protest have passed and the Egyptian people are on their way towards a new government. Despite this situation, the transition isn’t going…