News Headlines - 31 October 2011

▽Yen intervention raises fear of currency wars - Financial Times
Japan intervened in the currency markets to weaken the yen on Monday, exposing the dearth of global economic policy co-ordination just days before Friday’s summit of the Group of 20 leading economies in Cannes.

▽U.S., EU, Japan press China on financial services at WTO - Reuters
The United States criticized China on Monday for failing to fulfill World Trade Organization commitments to open its financial services market, while the European Union and Japan pressed for answers on specific areas of Beijing's regulations.

▽Greek Prime Minister announces shock referendum over new European debt deal - Daily Mail
The Greek Prime Minister has taken a huge political gamble by announcing that his debt-strapped country will hold a referendum on the new European debt deal reached last week... He gave no date or other details on the proposed referendum, which would be the first in Greece since 1974, when the monarchy was abolished by a landslide vote months after the collapse of a military dictatorship.

▽US cuts Unesco funding over Palestinian seat - BBC
The US has announced it is cutting funding to the UN cultural organisation Unesco, following the agency's decision to grant membership to the Palestinians.

▽Jobs crisis threatens global wave of social unrest, warns ILO - The Guardian
The International Labour Organisation has warned that a jobs crisis caused by the slowdown in the global economy threatens a wave of widespread social unrest engulfing both rich and poor countries.







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