CNN (Financial Times) -- George Soros has issued a passionate plea to the German government to lead the eurozone out of recession by boosting growth, creating a joint fiscal authority and guaranteeing common bonds, or itself leave the currency union to save the future of Europe.
"Lead or leave: this is a legitimate decision for Germany to make," the billionaire financier and philanthropist said in an interview with the Financial Times. "Either throw in your fate with the rest of Europe, take the risk of sinking or swimming together, or leave the euro, because if you have left, the problems of the eurozone would get better."
"It is entirely dependent on Germany's attitude," he added. "If they insist on a policy of austerity, of reinforcing the current deflationary stance, and they won't budge from that, then in fact it would even be better for them in the long run [to leave]."
(The Barbados Advocate): “To create world class animation products which elevate Barbados as a globally recognised Centre for Animation.”
That’s the mission of the Caribbean Digital Media Centre (CDMC) Inc. to date, the largest animation studio in the region. At a well attended official launch ceremony held last Friday at BIDC offices in Harbour Industrial Park, James Corbin, the company’s CEO, shared his vision for CDMC and his passion the see animation become a booming industry in this region, to a scale of rivalling the best in the world.
“We want to be the best animation studio... to contend with the best,” said Corbin, who pointed out that all of the 30 members of staff were trained to use the latest technologies in the industry.
He emphasised the company’s business strategy as focusing on offshore animation, adding that the sector in the USA was worth $125 billion in 2011, and that he was confident that CDMC could deliver on time, within budget and exceeding customers expectations on a continual basis.
(Nation News): GOVERNMENT HAS ACCUSED the International Monetary Fund (IMF) of being austerity-driven and of not listening, as the administration sticks to its five-year strategy to keep the Barbados economy on an even keel.
Minister of Finance Chris Sinckler told the SATURDAY SUN yesterday the view by IMF deputy division chief Therese Turner-Jones that Barbados needed to take quick, corrective action in order to turn around the struggling economy was typical of the Fund’s one-size-fits-all prescription.
(Dominican Today): Santo Domingo.- The Government allocated more than RD$10.0 billion (US$256.4 million)to promote Small and Medium Businesses, Presidency chief of staff Gustavo Montalvo announced Thursday.
He said the Reservas Bank has RD$4.6 billion available, the Agricultural Bank RD$2.0 billion; the Promipyme Agency RD$1.5 billion, the Bank Solidarity, Women and the Poor RD$ 1.0 billion, in addition to another billion pesos donated by the EU for technical assistance and training.
The official said the SMEs can borrow through the Reservas Bank, Agricultural Bank and Promipyme at a preferential rate, according to the applicant’s repayment capacity.
(Reuters) - Lufthansa on Friday offered permanent contracts to some temporary cabin crew in an attempt to end a run of strikes which has caused the cancellation of over 1,000 flights and cost the German airline over 10 million euros.
"We hope that this step will help UFO to join us in constructive talks to come up with a competitive pay structure for cabin crew," Lufthansa Chief Executive Christoph Franz said in a statement.
The concession came after both sides agreed to meet for talks on Friday as the third strike in eight days and the biggest to date brought fresh disruption across Germany.
Lufthansa has been resisting union UFO's demands for 5 percent pay increases and guarantees against outsourcing as it tries to slash costs in a plan to improve annual earnings by 1.5 billion euros ($1.9 billion) by 2014.