Just like a data quality improvement process is much needed when it comes to working with older and rather outdated programs and databases, the same can be said about Greece’s need to improve its worn out economical and political state that has lead the country facing distress that was never seen before. In this regard, recently, the radical leftist leader in Greece received an invitation from the president, announcing one final round of coalition talks.

But the political landscape in Greece has been under serious trauma due to the recent elections that took place in Greece and which were not conclusive enough. The parliament was divided in two, between supporters and opponents of the European Union’s bailout that values 130 million Euros. However, none of these two string sides in the parliament managed to create a majority and, therefore, they were unable to form a government.

At the end of June, chances are Greece will be left without sufficient cash, due to the lack of stability in the area and also due to the lack of a government that should negotiate the next tranche of this important aid coming from the EU. The collapse of Greece is therefore highly discussed all across the nations of Europe and also at a global scale, due to its inability of restoring political peace and stability.

The next logical step that Greek president Karolos Papoulias is going to have to make would be to call a new election.

The next logical step that Greek president Karolos Papoulias is going to have to make would be to call a new election. This should only happen provided he will not manage to convince the current leaders that are up for discussion to compromise in any way. On Sunday, the 13th of May 2012, Papoulias wore additional negotiations with politicians representing the three biggest and most important political parties in Greece. Furthermore, extra discussions are expected to take place on Monday, the 14th of May 2012, and a small leftist group is also expected to go to the mansion of the Greek president. However, not all leaders are expected to show up, as Alexis Tsipras, the 37-year old leader of the radical leftist SYRIZA party has already expressed his intentions of not attending the invitation.

The main reasons for this public discontent is strictly based on these parties’ agreement to accept the European bailout plan, which can only lead to even more severe wage and pension cuts.

Small Greek parties have all voted against the bailout of Greece with the help of the financial aid coming from the European Union, but this important vote is not sitting behind Tsipras, who is expected to place first if the vote would be repeated, hence getting 50 additional seats in the parliament. Tsipras is also known to have refused to form a coalition with the conservators and the socialists that have ruled Greece so far and who were recently punished harsh by voters. The main reasons for this public discontent is strictly based on these parties'agreement to accept the European bailout plan, which can only lead to even more severe wage and pension cuts.

Tsipras'refusal to participate in the official talk comes from the fact that his desire is to maintain Greece in the Euro zone, and he considers that the bailout needs to be completely torn up in order for this top happen.

The chart above identifies the key areas which trouble the European monetary integration. Its analysis points out the colour graphics of the Union - a diversified economic Union suffering from a range of problems. Debt and national policies burden the Union the most - the monetary power of strong Member States does nothing to help smaller Union countries and participation in the EU budget is thus unequal and rather discriminatory against smaller countries. Furthermore, one may conclude that additional issues such as economic deficit and low competitiveness continuously burden the Union and expose it to larger international financial risks.

The proposal is one of taxation regime - harmonization of the tax policies of Member States. If successful, the proposal would materialize in hard law which would reduce the reluctance of investors to transfer capital (now taxable) between the member states. If an investor is willing to participate in the capital markets, he will no longer have to fear that his money are about to be taxed twice within the boundaries of the Union. The new policy would significantly reduce the risk exposure of large corporations between actual tax savings can be achieved within the Common Market. In the current financial climate, such savings are often what many of the Member States pursue in the their national financial policies.

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Finally, Libya seems to be resting upon more predictable certainty. The reign of the colonel is nearing its end and the Libya official government is now composed by rebel force leaders and political opposition that until recently was prosecuted by the regime for having democratic orientation in its idea of governance. The question now is what happens after the data cleaning services over the Libyan economy - a whole era of economic development under the rule of a single leader is about to be abolished. A new era for Libya begins and this is what would be the major challenge for the country after its liberation.

Libya would definitely be more open to economies around the world. The newly formed government has already established international ties with countries such as France, the UK and Italy. Further international communications are being conducted with the US, Russia and the Middle East. It is true, however, that while the Qaddafi regime was mainly oriented against the democratic forces of the West, the new regime would be predominantly concerned with being close to developed economies.

This open up new markets for Libya. Their trading power would develop and their options for export and import of products as well as their ability to seek financial cooperation with other world economies would be on a completely different level. And while in the beginning, as every newly formed state power, the Libyan government would experience difficulties, it is clear their economic opportunities for development would be much greater than the ones under the old political regime.

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The vice president of the US, Joe Biden, had his first official talks with his counterparts in China. In a pictured dialogue with the Chinese political leader, the second highest in the US has announced the intentions of the US to improve its relationship with China and to develop mutual reliance which would ensure global financial stability.

The words of the US vice president were not a simple and a commonly spread gesture to a host - they were actually true. Cold relationship between the two countries would be counter - productive to the US since China is the biggest creditor to the US. Little do people know about this - hardly is there anyone who can predict that almost 3% of the US business loans are made possible by banks because they have received investments in debt by the Chinese. The circulation of Chinese money in the US economy ensures a capacity to fight debt crisis problems and a solution to ongoing financial problems in the world as a whole.

Second factor that needs to be addressed by the vice leaders of the two major countries in the world trade is one of military compromise. The US cannot put up with the desire of the Chinese to develop sophisticated military technology for the sole use of its own army. The fact that weaponry producers are state owned is good indicator for the condition of the weapon industry in the country- it works solely for its owner.

So two leaders of two powerful countries develop a relationship and a dialogue which the world economy and peace rest upon. Let’s hope they will reach a satisfactory conclusion.

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Recent changes in the economic environment in the US has influenced the contrary to recovery economic illness that the American financial world is currently suffering from. Being unable to address crucial issues of financial debt, the US political elite made the mistake of letting its country down. This influenced almost every business and individual in the country, from commercial estate agent companies to the ordinary people in the state.

All these developments led to a record decrease in the consumer confidence in the country. Bloomberg indicates that the number of people confident in the economic stability in the country has reduced by half and the problems of the public seem inevitable. Thus sales have been reduced to a record minimum - there has never been such a great consumer disorder since the early 80s when a world economic crisis forced the US to kneel before the Asian growing world.

The current environment is not so different from the one 30 years ago. The service providers are continuously losing positions in the domestic market and the demand for products and services in reducing. The events of the financial disaster in 2007-2008 are repeating once again the country where the economic conditions do not allow any risk-takings by companies, leaving them in reliance on small sales to the public.

Worldwide, the interconnectedness of the US economy with the rest of the developed world is also causing major financial disturbances - exports from the US have reduced significantly since other economic players no longer need US goods. The markets shrinking is the sign indicating that a deeper recession is coming to the States.

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The body responsible for making legislative proposals to the EU decision making authorities, the Basel Committee on Banking Supervision, has recently warned political leaders that a stronger banking system needs to be established in the EU. Following the crisis in Greece, the continent might suffer even larger consequences because of the interconnectedness of banks in the region and especially those concerned with extensive Euro trade. The debt crisis is worsening which implies the need for new considerations of the Committee.

No matter whether you pay through a bank for IT support in London, or you decide to invest in bonds, the two activities are now conducted by universal banking. These means that traditional retail and wholesale banking is merging. In times of crisis, this would mean that the risk taking by banks might be quite more severe because of the availability of personal accounts money and investment money. This exposes to risk not only the personal accounts of millions of people in the Union but also the Union itself because should a bank collapse in this highly inconvenient time, the whole banking system would sustain severe damage.

This is the reason why the Basel Committee is due to make recommendations to the authorities on August 1st when a meeting between financial ministers in the Union would take place (still not officially confirmed though). The body would recommend higher capital requirements, liquidity checks to be conducted more often and a risk taking management exercised by a specially founded commission. However, these changes are coming in a time when Europe’s banks are pretending to be healthy enough to engage in their normal activities. Nevertheless, the element of universal banking remains a problematic banking practice by most of the institutions which implies further difficulties for EU economic recovery.

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Nigeria is among the top 3 economies of Africa with a steady economic growth due to its fuel industry and mining sector. However, the market value of the country in terms of capitalization does not exceed 47 billion dollars. This is an extremely poor performance which only indicates that Africa has a lot to grow if it wants to catch up with the growing markets like the Asian Indonesia or the European Ukraine. However, the country’s governmental financial adviser, Oscar Onyema made a statement that made even the Russians shake last week in a business summit in Moscow.

The chief of the stock market announced that the country is striving to increase its market value to over a trillion dollars in five years period. This seems to be a task that would hard to achieve. However, the country would rely on a solid economic plan for development that might actually prove to be quite persistent through time.

Nigeria plans to first allow more international players to buy stocks and participate on the home market by easing the requirements for private participation in the economy. Additionally, the reduced requirements would come under a package for further business development - anyone aiming to participate in the domestic economy on a level higher than investment can obtain a business development package that would include tax relief and other attractive measures that aim to introduce the country to new capital holders.

The business development of the state fuel industry is also at the focus. The government does not need an independent financial advisor to conclude that the fuel industry would strongly determine the future of the African state. By allowing private participation and encouraging foreign relations with the businesses, the government might actually strike a hundred percent increase in the market value of the country only by the end of 2012.

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After years of unprecedented economic growth and financial stability, Switzerland is about to be the only country that the European life is preserved and well maintained. The figures show that the Swiss are among the European states that have preserved high standard of living thanks to the vast area of services they offer around the world - ranging from financial to legal services, this market was named the Heaven of Europe because of the high income and the tapped tax.

However, this might soon change. Relying on a solely service-oriented market has always worked well for the Swiss - an independent country, neutral from conflicts and international formations. Nevertheless, economists from the Swiss government indicate that they are slowly becoming skeptic about the growth of their country. After series of unsuccessful reforms in the banking sector, the appealing banking environment in Switzerland has lost position. This forces the Swiss to branch other industrial sectors - the production of more bio fuels, the production of clean energy, the export of organic foods. Still, the country seems to be needing more in order to restore economic prognosis with positive outcomes. And while France has its powerful auto industry, Germany all sorts of production, the UK - its diesel Brighton can be quite happy about and so on, the Swiss have … banks.

This quite focused market for the Swiss services would experience difficulties as estimated by Bloomberg economists. The reason - in times of recession and slowed recovery, the trade in Europe goes through more national institutions and the ECB rather than the Swiss organizations. The decline would be less than a percent in economic terms, however, this is a first indicator that the European heaven might soon be just a myth and Swiss might finally become just an average European economy fighting back recession and financial difficulties.

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Over a month ago, Bloomberg indicated in its report on the US economic conditions that it expected a steady increase in the employment and a slight improvement of the employment opportunities in the country. However, figures released by the Washington center measuring the levels of employment show that unemployment have climbed to its highest this year and that the job gains is unexpectedly small as compared to the predicted numbers.

Only 54,000 people have gained new jobs in May as compared to almost 230,000 in April. This has been a true decrease and many people in the states cannot even consider moving forward at this stage. Employment have been struck by increasingly disturbing problems in the country - high inflation, property market crisis and, most importantly, oil prices that pull back the industries. Slight development is seen in the food sector but it is also being hit by the oil prices and soon its temps of development would reduce.

Unemployment levels rose to the crucial 9,1% passing the 9% border which was steadily maintained for almost 4 months. Only in May the increase is 0,1% which is a disturbing factor considering the number of people that again could not find employment. The situation is even worse in some Southern states such as Mississippi where natural disasters increased public spendings and less money fueled the private sector in the state. People in such regions are truly struggling as some of them have been kept unemployed for a significant period of time and, with the expenditures around the recovery of the areas from bad weather conditions, they cannot even hope to get an old Audi car leasing. The deficiency of capital would result in severe sales reduce in Southern parts of the US.

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Bloomberg Magazine indicates that Canada is progressively growing in terms of economy after the spending of the businesses in the country increased with almost 3,4% - the highest this year. Furthermore, despite the problems from the Japanese earthquake and the crisis in the neighboring USA, the Canadian consumers still remain confident and unemployment levels remain low.

The first economic branch that strongly influenced the business composition in the country is the growing energy businesses. It is a common fact that the country is currently developing some of the most significant energy projects with generating power from water. The construction of several quite powerful plants consumes continuous investments and the clean energy production attracts many investors both from America and the rest of the world. Private businesses expand their scopes and are also actively participating in the projects.

Another prospective branch under serious development is the wind energy production - currently, the country is developing state testing sites and is additionally looking forward to expanding the investments in the area with the help of major power companies. Other businesses such as natural gas extraction, fishing, timber production and construction are also making progress and the businesses continue to consume significant capital. Despite the prognosis of decreased exports next month, economists are optimistic thinking that the current growth is an automatic and free antivirus for the occurrence of such economic problems. Nevertheless, even if a slight decrease occurs, the Canadian economy would remain strong and the investments in the country will continue to flow.

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