In a new report, education experts pointed to a record drop in preschool state funding of more than half a billion dollars in the 2011-2012 school year from the prior year. Also, for the first time in a decade the percentage of 3- and 4-year-olds enrolled did not grow. Today’s graphic shows the percentage enrolled, enrollment by program, ranking by state and spending per child for preschools in the US.
Fitch stripped Britain of its top-grade AAA rating on Friday, but unlike rival Moody’s – which did the same in February – it gave the new rating a stable outlook. Today’s graphic shows the long-term sovereign debt ratings for Britain, the US, Japan and the rest of the euro zone.
On April 1, 118 guests crowded into a meeting room at the top of 3 Times Square to hear two high-profile financial authorities debate their widely differing views with Reuters Editor-at-Large Sir Harold Evans as moderator.
The debaters: (more…)
Cyprus said that a sale of its gold reserves was among the options for its contribution towards an international bailout, but ultimate responsibility rested with its central bank. Because of this, euro zone nations such as Italy and Portugal could come under pressure to put their bullion reserves to work. Today’s graphic looks at gold reserves as a percentage of debt and GDP for some of the world’s largest economies.
Former White House budget directors David Stockman and Peter Orszag spar over the stimulus, healthcare, defense spending and whether President Eisenhower was a monetary genius in a debate moderated by Sir Harold Evans at the Thomson Reuters headquarters.
If you don’t want to watch the entire Newsmaker, here are a selection of clips:
U.S. should’ve let AIG fail
Looking down the budget hole
Stockman: Washington can’t be rescued
Cyprus clinched a last-ditch deal with international lenders to shut down Popular Bank (Laiki), the country’s second-largest bank, and inflict heavy losses on uninsured depositers in return for a €10 billion ($13 billion) bailout. The EU and IMF required Cyprus to raise €5.8 billion from its own banking sector towards its own financial rescue in return for a €10 billion international loan. Today’s graphic breaks down the controversial Cyprus bailout deal.
Bankia has been the focal point of Spain’s banking crisis since requesting a massive state bailout in mid-2012. Writedowns on rotten property assets led it to post Spain’s biggest ever corporate loss for 2012. Today’s graphic looks at some of the biggest banking losses in Europe.
Italy’s stunned political parties searched for a way forward after an inconclusive election gave no one a parliamentary majority. Financial markets fell sharply at the prospect of a stalemate and threatening prolonged instability and a renewal of the European financial crisis. Today’s graphic is a snapshot of the Italian economy using eight key economic indicators.
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Is the worst of the euro zone debt crisis over? Will Europe’s economy bounce back or do a range of risks mean the outlook is gloomy?
The European Central Bank’s pledge to do whatever it takes to save the euro has taken some heat out of the debt crisis but policymakers have an enormous amount to do to secure the bloc’s future – in terms of closer economic integration and building a banking union – and there are some signs of unraveling.
The four-day Reuters Summit will press Europe’s top policymakers on their plans, hopes and fears and whether they expect the ECB to have to back up its words with actions. A corruption scandal in Spain and uncertainty surrounding the outcome of Italian elections only add more spice to the mix as will Britain’s uncertain future in Europe and more global questions such as whether the world’s major economies could slide into a currency war.
Learn more about the Reuters Euro Zone Summit (February 25-28 – Brussels, Frankfurt, Berlin, Paris and London). (more…)
Standard & Poor’s raised its outlook on Austria’s debt to stable from negative on Tuesday in a rare mark of approval for a euro zone country after three years of crisis. Today’s graphic shows the long-term sovereign debt ratings for the US, Japan and the euro zone.