Brazil's President Dilma Rousseff is fighting for political survival less than a year after being re-elected. Several reasons have been pointed exhaustively to explain how things got so bad in such a short period of time: chief among them are the burgeoning corruption scandal at state-run Petrobras and stubbornly high inflation, out of sync with the rest of the world.
Just as ECB President Mario Draghi announced a massive bond-buying program to revive Europe's economy and fend off deflation fears, news of shockingly low inflation popped up elsewhere in the globe: consumer prices in Mexico dropped 0.19 percent in early January, far below all 19 forecasts in a Reuters poll.
from The Great Debate:
At this moment, the fiercest, most powerful criminal organizations in the world are located in Mexico. Recent events should leave no one with any doubts.
By Rob Cox
The author is a Breakingviews columnist. The opinions expressed are his own.
Nine years ago, Breakingviews proposed an “extreme idea” to Citigroup’s then-leader Charles Prince. The $240 billion New York bank’s market capitalization was lower than the worth of its parts valued separately. By splitting into three separate units, the idea was, Prince could hand shareholders an extra $50 billion or so, the equivalent of one entire U.S. Bancorp at the time.
from Photographers' Blog:
Mexico City, Mexico
By Henry Romero
When I was a child back in Colombia I used to go to the circus every New Year’s Eve with my parents. It was always a special moment. I remember the lights, the clowns, the acrobats and the beautiful animals performing tricks that made us laugh and gaze at them in awe.