News

By year 2020 the Russian Federation will become the fourth in the rating of world economies with the largest gross national product volume

The next meeting of Heads of States and Governments of the European Union will be held on January 30, 2012. The official theme of the EU Summit will become a problem of employment.

Russia is ready to help the European Union

In October a famous American financier George Soros warned that the great depression was going to repeat. He proposed radical plan of the European financial institutions reformation.

The economic situation in Europe is cheerless. The fate of Greece and the European single currency are the subjects of concern of not only European economists and government officials, but the whole world. Although, eurofunctionaries try to keep a good face on a bad game.

On Friday 26 August, the Cyprus Parliament has voted the first package of austerity measures in the form of tax changes in order to improve Government finances and cut the budget deficit. A second package of measures is expected to be introduced to Parliament by the second week of September. Some of the changes have a direct impact on international companies and this alert gives emphasis to this fact.

U.S. House of Representatives voted in early August in favor of a bill to raise the national debt limit. It is known than among the Republicans who own the majority in the House of Representatives 174 people voted "for" while "against" — 66. The votes of the Democrats were divided in half — 95 to 95.

Back in June the picture in a pair of Euro/Dollar looked more than convincing: the euro was gowning, and the dollar fell.

U.S. financial problems, slow growth of the Chinese economy, the debt crisis in Europe and the downturn in the Japanese economy with a probability of 30% may emerge the «perfect storm», whose full force will echo on the world economy in two years, said economist Nouriel Roubini, who predicted the global financial crisis of 2008.

The Government of Cyprus looks for the strategic location of the island at the junction of three continents, and intends to turn the country into an international, financial, modern and business center, as Antonis Pashalidis, the Minister for Trade, Industry and Tourism of Cyprus announced in May.