I wish tumblr actually cared about Greece right now. Everyone’s happy to reblog posts of pictures of Santorini and the Greek islands and to read books based of Greek mythology and quote Greek philosophers and live in countries built on the ideas and inventions that GREEKS CREATED but I am yet to see one post about the Greek crisis and it just seems like no one cares what’s going on. People do not have any money, all banks are closed and accounts are frozen. ATMs are only giving 60 euro a day to people and they are soon going to run out of money. Unemployment is at 28% if I’m correct. 272.7% increase in depression. People are committing suicide because of the living standards (around a 35% increase) . There has been electricity and hot water cuts in parts of Greece. Pensioners can’t get their pensions. The Greek PEOPLE are being blamed because apparently they are ‘too lazy’ but no ones blaming anyone else when it’s not the people of Greece’s fault. they’re being bullied and pressured by more powerful countries, the eu and imf to vote yes on the referendum meaning higher taxes and spending cuts putting the people of greece in even more poverty. not to mention that Greece already has a corrupt government to deal with. And no one seems to care that whatever the outcome is with Greece effects other countries such as Ireland, Portugal, Spain and Italy who are also in a very fragile state. Mind you the EU doesn’t seem to care if Greece goes bankrupt because they won’t give Greece debt relief, they are ruining a country and the lives of people! I have family in Greece right now and my yiayia (grandmother) has informed us that she is currently living off her last 20 euros because she’s on the island Lesvos in a village and can’t access any of her money in her bank accounts. It’s disgusting that people are making jokes of this situation when the people of Greece are suffering as much as they are, and I don’t think they realize what an effect Greece collapsing will have on them and the rest of the world! All I’m asking is for the people of tumblr to open their eyes to a major issue in the world right now because even if it’s not effecting you directly, it’s effecting millions of people. Greece needs help and even if it can get something as little as more recognition and acknowledgment of how bad the problem is, maybe just maybe things can get better. Just keep in mind that this could potentially ruin a country filled with such a beautiful culture, proud outgoing spirited people and an incredibly rich history

GREECE, Thessaloníki : An elderly man is crying outside a national bank branch as pensioners queue to get their pensions, with a limit of 120 euros, in Thessaloniki on 3 July, 2015. Greece is almost evenly split over a crucial weekend referendum that could decide its financial fate, with a ‘Yes’ result possibly ahead by a whisker, the latest survey Friday showed. Prime Minister Alexis Tsipras’s government is asking Greece’s voters to vote 'No’ to a technically phrased question asking if they are willing to accept more tough austerity conditions from international creditors in exchange for bailout funds. AFP PHOTO /Sakis Mitrolidis                        

Canada is already in a recession, says Bank of America, and the loonie is set to get hammered
Forecast: A recession sets up the Bank of Canada for another rate cut this year and the downturn will knock the loonie to under 77 cents US by the end of the year

Bank of America Merrill Lynch has become the first bank to call for a Canadian recession this year.

Economist Emanuella Enenajor and her team now say that Canada’s economy will shrink by 0.6 per cent in the second quarter, following a 0.6 per cent contraction in the first. The definition of a recession is two consecutive quarters of contraction.

A recession sets up the Bank of Canada for another rate cut this year, said Enenajor, and she expects that the downturn will hammer the Canadian dollar — knocking it down to just under 77 cents U.S. by early 2016, the lowest level in more than a decade.

“The economy has surprised to the downside this year, and appears to have entered a recession in 1H 2015, even after policy easing in January,” she said in a note to clients.

Continue Reading.

According to a study published today in Scientific Reports, stock brokers may be making poor decisions due to feeling cocky or stressed—not a huge shock, but still bad news considering they work in an industry that, in addition to rewarding confidence and routinely demanding long work days, can have a dramatic effect on the economy.

Furthermore, men may be more susceptible to this hormonal effect than women due to their higher testosterone levels.

“Cortisol appears to affect risk preferences directly, whereas testosterone operates by inducing increased optimism about future price changes. Our results suggest that changes in both cortisol and testosterone could play a destabilizing role in financial markets through increased risk taking behaviour, acting via different behavioural pathways.”


“Women would be too hormonal” they said. “Women shouldn’t be in positions of fiscal responsibility” they said.

Science says otherwise.

ventdelanuit asked:

Do you agree that there will be a Canadian recession?

Its pretty likely at this point.

Q1 of this year (January-March) had negative growth. And so far April has also shown negative growth. If we don’t get strong growth in May or June, we will be in a recession.

A recession is defined as 2 straight 3-month periods of negative growth. Right now we’re 2/3rds of the way there.

Circular economy: the importance of re-using products and materials

On Monday 6 July, MEPs debate a report that calls on the European Commission to put forward an ambitious proposal to facilitate a transition towards a circular economy, where products are designed in order to facilitate reuse.
Below you will find links to audiovisual and editorial materials that you can use free of charge. To check the terms and conditions, click on the link to the right.

Watch the debate on Monday from 6pm CET

This infographic is available in 24 languages. Select your language on the page’s upper left corner.
Circular economy

Circular economy: the importance of re-using products and materials (article in 24 languages)
Moving towards a circular economy (briefing by the European Parliamentary Research Service)

Sometimes I think I was born in the wrong decade because of the crippling debt I will get from going to college which is almost mandatory to get a decent job in this economy but I’m glad I am a college student now because knowing what it’s like to graduate with thousands of dollars of loans gives me a reason to fight for a better future for my children because I’ve lived through these problems while older generations have had it so much easier, allowing them to ignore these problems as if they don’t exist.