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Insight: Baltic countries' austerity lesson for Europe - Just do it
Jun 25th, 2012
RIGA (Reuters) - Near a former Soviet naval base and dilapidated Cold War-era housing estate, this 84-year-old Latvian plywood factory is the kind of success story of which EU policymakers dream as they struggle with economic meltdown in southern Europe. Workers in yellow and blue uniforms eye digital camera readings of an endless stream of plywood on conveyers, new automation that has helped this firm survive what many describe as the world's deepest recession. Steam hisses nearby, part of a novel water recycling scheme that has cut energy costs. ... (Source: Reuters) -
By Stephen Grey and Michele Kambas and Douglas Busvine NICOSIA (Reuters) - When the Cyprus bank run began earlier this year, Russians set much of the pace. Documents seen by Reuters show that as the Mediterranean island headed towards financial meltdown in March, most notable among companies transferring money from the country's two main banks... [Full Article]
By Belinda Goldsmith CANNES, France (Reuters) - The Cannes film festival gets underway on Wednesday with Australian director Baz Luhrmann's 3D extravaganza "The Great Gatsby", a lavish production eclipsing more modest launches in recent years that reflected global economic gloom. Already showing in theatres in Canada and the United S... [Full Article]
VATICAN CITY (AP) - German Chancellor Angela Merkel, mindful of the weight of Christian voters in September elections, made a quick trip to Rome Saturday for a private meeting with Pope Francis, focusing on how Europe's struggling economy should be at the service of the people. (Source: Associated Press)... [Full Article]
(Reuters) - Pop stars Justin Bieber and Taylor Swift won the big prizes on Sunday at the Billboard Music Awards, which also honored legendary performers Madonna and Prince. Bieber, who was named top male artist, also performed at the show at the MGM Grand Garden Arena in Las Vegas. He also took home Billboard's first Milestone Award, chosen by... [Full Article]
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