A s we mark the 10th anniversary of the collapse of Lehman Brothers, there are still ongoing debates about the causes and consequences of the financial crisis, and whether the lessons needed to prepare for the next one have been absorbed. But looking ahead, the more relevant question is what actually will trigger the next global recession and crisis, and when.
One budget plan includes pre-legislated pension cuts, which the Greek government have previously agreed to, according to the International Monetary Fund. While the second does not include pension cuts, putting the cash-strapped nation in the firing line of confrontation with its creditors and European institutions.
Nama valuations begin to reveal the scale of prospective bank losses. International lenders started paying attention to Ireland.
The next batch of pension cuts, voted through in the last couple of years and set to come into force within the next two years, will take total losses for pensioners since the start of the bailout period in up to 70 percent. The network argues that when the cuts expected in and are added to those implemented since , the reduction in pensions will reach 70 percent.
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