Washington - US President Barack Obama on Monday promised to cut the federal budget deficit more than half by the end of his four- year term in office, despite a deepening recession that has forced the government to spend record amounts of money.
Obama, who took office in January, inherited a 2008 budget deficit of 1.3 trillion dollars. That figure is expected to top 2 trillion dollars - more than 10 per cent of US gross domestic product - in 2009 as the country confronts a massive economic crisis.
Brussels - The European Union flirted with chaos Monday as top diplomats complained about a "cliquey" response to the recession and failed to agree on the use of community funds to aid economic recovery.
"I must admit I'm extremely worried about the EU's institutional chaos. Never in the EU's history has there been a period like this with so many cliques," Finnish Foreign Minister Alexander Stubb said after regular talks in Brussels with his EU counterparts.
Cairo - Refaat al-Sheikh, like many of the shop owners in Cairo's Medieval Khan al-Khalili bazaar, on Monday sat idly on a wooden chair in front of his shop with a sad look on his face.
"The situation is as you can see," he told Deutsche Presse-Agentur dpa, gesturing at normally bustling market streets now populated mostly by police and journalists.
Brussels - The European Union flirted with chaos Monday as top diplomats complained about a "cliquey" response to the recession and failed to agree on the use of community funds to aid economic recovery.
"I must admit I'm extremely worried about the EU's institutional chaos. Never in the EU's history has there been a period like this with so many cliques," Finnish Foreign Minister Alexander Stubb said after regular talks in Brussels with his EU counterparts.
Washington - US President Barack Obama is urging states to spend the government's money wisely despite a deepening recession, ahead of his annual address to Congress Tuesday that will outline the long-term budget priorities for his administration.
Addressing a meeting of the country's governors Monday in Washington, Obama said he was relying on states to quickly implement the 787-billion-dollar stimulus package that became law last week and is aimed at halting the country's disastrous economic slide.
Dublin - Up to 120,000 people protested in the Irish capital Dublin on Saturday against the government's handling of the economy and the activities of the banks during the financial crisis.
The demonstration, one of the largest ever in the city, was called for by a number of Ireland's unions. State employees vented their anger over government cutback plans and the effect that the recession, which began late in 2008, is having on workers.
Washington - US President Barack Obama on Monday promised to cut the federal budget deficit more than half by the end of his four- year term in office, despite a deepening recession that has forced the government to spend record amounts of money.
Brussels - The European Union flirted with chaos Monday as top diplomats complained about a "cliquey" response to the recession and failed to agree on the use of community funds to aid economic recovery.
Cairo - Refaat al-Sheikh, like many of the shop owners in Cairo's Medieval Khan al-Khalili bazaar, on Monday sat idly on a wooden chair in front of his shop with a sad look on his face.
Brussels - The European Union flirted with chaos Monday as top diplomats complained about a "cliquey" response to the recession and failed to agree on the use of community funds to aid economic recovery.
Washington - US President Barack Obama is urging states to spend the government's money wisely despite a deepening recession, ahead of his annual address to Congress Tuesday that will outline the long-term budget priorities for his administration.
Dublin - Up to 120,000 people protested in the Irish capital Dublin on Saturday against the government's handling of the economy and the activities of the banks during the financial crisis.
