Financial crisis

We are at the 10th anniversary of the global financial crisis that laid ruin to the Greek economy. The overriding lesson of the global crisis is the persistently weak governance of the global financial system. I count six basic blunders that cost the world trillions of dollars in lost output and years of anguish.

Foreign investors might be facing the dilemma of whether or not to invest in Turkey, with the rising opportunity from high interest rates on the Turkish Lira and very low stock prices of the BIST 100 Index's valuation of the United States dollar, as well as the decreasing value of real estate.

Turkey is facing a speculative attack rather than an economic crisis, the CEO of a major private lender said on Aug. 14.

MarketWatch - As worries about Italy and Spain's governance whack European markets on Tuesday, George Soros is adding to the downbeat mood.

The 87-year-old Hungarian-American, known as the investor who broke the Bank of England, has offered the following bleak assessment in a speech in Paris to the European Council on Foreign Relations

According to a research of the German IMC Institute, the possibilities to begin a global financial crisis very soon has sharply increased and is now 32.4 percent.

IMK warns that there will be a major change in central bank policy, which could lead to a severe deterioration of the European economy and even to a new recession. 

Sharp swings in global financial markets in the past few days are not worrying since economic growth is strong but reforms are still needed to avert future crises, the managing director of the International Monetary Fund said on Feb. 11.

Greece on Feb. 8 made another tentative return to markets with a seven-year bond, its first sale of the sort since the start of the economic crisis, officials said.

The world economy is facing the risk of a new financial crisis, warned German Finance Minister Wolfgang Schauble, quoted by the electronic edition Politico. Global debt and the volatile borrowing market can push the world into new serious financial sector problems.

Another financial crisis is still possible, according to International Monetary Chief Christine Lagarde. She was commenting on a statement by US Federal Reserve Chair Janet Yellen, who predicted she would not see another financial crisis in her lifetime.

Brazen Bulgarian gangs "terrorise the elderly and rob them over their life savings with increasingly aggressive phone scams nettling millions of euros," according to an AFP story.

Tactics used range "from impersonating police to hurt loved ones", according to the report carried by Daily Sabah newspaper.