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 | agreement on the principle of European officials on a new three-year rescue plan for the Greek economy, according to news agency. |
The aftershocks from the unrest in Libya are also being felt across global financial markets. Libya is the world’s 12th largest exporter of crude and the price per barrel has shot to a two-and-a-half year high amid investor fear that production could be disrupted. It follows a speech by one of Colonel Gaddafi’s sons, Saif, who warned that all foreign oil companies might have to leave the country. Rising oil prices can accelerate inflation and eat into companies’ profits, further unsettling an already rocky global economy. … www.euronews.net
The US economy grew a little faster at the end of 2010 than the government had previously estimated. But rising oil prices will likely limit growth this year. (March 25)