The global financial crisis began in the middle of 2007 and hit with full force in 2008, leading to the collapse of the stock market, banks and large corporations. Unemployment in Europe rocketed to a 10-year high of 9.5%, or 15 million, in July 2009, and the Eurozone officially entered recession in November 2008.
The response of developed countries has been to pursue massive and unparalleled government intervention; nationalising banks, injecting massive subsidies and funds into banks and corporations. Europe alone has proved capable of mobilising massive amounts of money for its banks. Over US$150 billion was mobilised for Northern Rock, Commerzbank and Dexia alone, more than double the amount of EU aid in 2009.
We confronted this crisis with a multilateral system designed 65 years ago at Bretton Woods. Its age is beginning to show, and some people are saying it might be time to consider retirement.
The problem of corruption has attracted the attention of scholars, development workers, activists, politicians, international organizations, public affairs commentators and the general public for a
The global financial crisis began in the middle of 2007 and hit with full force in 2008, leading to the collapse of the stock market,
Debt burden occurs when what a country has to pay back in terms of principal and interest (debt service) takes a significant portion of the
The National Economic Empowerment and Development Strategy (NEEDS) recognizes that one of the problems that hamper progress in Nigeria is corruption. The strategy commits government
The importance of education to human beings cannot be over emphasized. Education has been defined as all efforts, conscious and direct, incidental and indirect, made
There is no doubt that the Niger Delta crisis is arguably one of the greatest challenges facing Nigeria as a nation. As many commentatorts have
Dr. Otive Igbuzor is a Pharmacist, Human Rights Activist, Policy Analyst, Development Expert, and author who is a reader’s delight. His authored works are always enchanting, interesting and yet very impactful. His books have been instrumental to building a new breed of leaders capable of advancing Africa out of the woods of socio-economic and political decadence.
