Counting the Cost
Financial firms back under scrutiny
Banks are again thrust into the spotlight as their exposure to the European debt crisis worsens.
Last Modified: 30 Sep 2011 15:51

Every week Counting the Cost seems to uncover another layer of financial woe in Europe. This week is no different, with more political wrangling, more bailout money needed, and more uncertainty about whether Europe can actually get out of this mess.

First there is Greece needing more cash, in addition to the second bailout of $155bn. Then there is talk that Europe's creditors - the banks - will have to stomach some losses too. Just how much of a cut should private investors take is a question that has divided the Eurozone.

Meanwhile, Germany's demands got a boost when they passed the domestic hurdle of getting through parliament. At the same time, the now-famous Troika of the IMF – the European Commission and the European Central Bank – was back in Athens deciding whether Greece deserves the next tranch of bailout money.

Moving to Russia, the world recently saw the spectacular collision between the country's politics and economics in the form of a very public spat and a very public resignation. Alexei Krudin, the Russian finance minister, quit his post following a public clash with Dmitry Medvedev, the president. Medvedev, and Vladimir Putin, the prime minister, are said to be planning a job swap.

And, the farming of the big flightless Australian bird finds a brand new market in India because they are cheaper to rear that chickens. The prospect of success in emu farming is fast catching up in India.

Finally, we do a book review of a financial thriller called 'The Fear Index', a work of fiction borne out of fact that speaks to the fears people everywhere have about global markets and their unpredictability.



Counting the Cost can be seen each week at the following times GMT: Friday: 2230; Saturday: 0930; Sunday: 0330; Monday: 1630.

Click here for more on Counting the Cost.

Al Jazeera
Topics in this article
Featured on Al Jazeera
An innovative rehabilitation programme offers Danish fighters in Syria an escape route and help without prosecution.
Street tension between radical Muslims and Holland's hard right rises, as Islamic State anxiety grows.
Take an immersive look at the challenges facing the war-torn country as US troops begin their withdrawal.
Ministers and MPs caught on camera sleeping through important speeches have sparked criticism that they are not working.
More than 400 gaming dens operate on native lands, but critics say social ills and inequality stack the deck.
The Palestinian president is expected to address the UN with a new proposal for the creation of a Palestinian state.
Nearly 1,200 aboriginal females have been killed or disappeared over 30 years with little justice served, critics say.
Ethnic violence has wracked China's restive Xinjiang region, leading to a tight government clampdown.
Malay artists revitalise the art of puppeteering by fusing tradition with modern characters such as Darth Vader.