Sunday, December 4, 2011

Center-left coalition wins Croatian elections

  Exit polls in Croatia show that the opposition Kukuriku bloc has won the election with 83 seats against just 40 for the ruling HDZ conservatives. The leader of the opposition Zoran Milanovic will face a tough task to overhaul the economy.
     Slovakia is scheduled to join the European Union in 2013. Given the troubles in that group at present one wonders why Slovakia wants to join. The ruling HDZ has dominated Slovak politics since independence in 1991. Only in 2001-2003 did a center left coalition take over power.
    Recently the HDZ has been involved in corruption scandals but also unemployment has risen. Growth in Croatia was good until the financial crisis in 2009. Since that time the country has had difficulty in coming back from the recession.
    In order to join the EU the new leader Milanovic will be required to cut state spending and implement other so-called reforms so that it does not receive a downgrade to its credit rating. For more see this article.


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US will bank Tik Tok unless it sells off its US operations

  US Treasury Secretary Steven Mnuchin said during a CNBC interview that the Trump administration has decided that the Chinese internet app ...