Author: Barbara Shecter

Image: Ssolbergj
News Politics

Canada Makes A New Trade Deal With The EU

Canada has a new deal with the European Union. The agreement is expected to increase the amount of trade between Canada and many countries in Europe.

Trade, in this case, is when one country buys something from another country and vice-versa.

Prime Minister Stephen Harper has said the new deal could increase trade by 20 per cent, beginning in 2015, and add $12-billion to Canada’s income (the money it makes) each year.

The new trade deal is called CETA, which stands for Comprehensive Economic and Trade Agreement.

It is expected to create 80,000 new jobs in Canada.

Canada and the European Union have been working on the new trade deal for the past four years.

Canada’s largest trading partner is the United States, but increased trade with other partners is good so Canada is not as dependent on any single country.

Bitcoin logo
News

“Bitcoin” Is A New Type Of Money

Bitcoin sounds like what it is–a type of money.

But it’s a special kind of money that could not exist without the Internet. It is digital and virtual; people can’t carry it around in their pockets or keep it in a bank.

Despite these differences from traditional money, there are places around the world that are starting to accept bitcoins to pay for things.

Some restaurants and shops in New York and San Francisco accept bitcoins, and so does WordPress, a blogging website.

A man in Alberta is offering to sell his house for bitcoins instead of Canadian dollars.

Bitcoins have been around for a few years but are becoming more popular.

Image: Washiucho
Politics

Cyprus The Latest Country To Get A Bailout

Cyprus is the latest country to require a financial “bailout” from other European countries to keep its banks and economy from collapsing.

Like Greece, which was bailed out of an economic crisis last year, Cyprus is one of 17 countries in Europe that uses a type of currency, or money, called the Euro.

The problems for Cyprus began with the country’s banks, which loaned money to people who didn’t pay it back. Governments of other countries that use the Euro became nervous that Cyprus banks would fail if they were re-paid, and that the problems could spread to their countries.

The European Union
News

EU Wins Nobel Peace Prize

The European Union, a collection of countries in Europe, has been awarded an important prize — the Nobel Prize.

It was given the honour for keeping peace for more than 65 years.

That is a very big accomplishment, especially because the Second World War began just 21 years after the First World War ended in 1918.

But not everyone is happy to see the European Union receive the prestigious prize.

That’s because even though Europe is not at war, it is struggling with a different kind of problem.

Many countries in Europe, including Greece, Spain and Italy, are having trouble paying down their debts.

Their governments borrowed too much money and now they must cut back on the amount of money they spend to pay their workers and for things like roads, hospitals and schools.

The Eurozone
News Politics

A Plan To Help Eurozone Countries In Debt

Europe’s central bank thinks it has a good plan to help countries like Greece, Spain and Italy. Those countries are struggling because they took on too much debt.

The idea is that the European Central Bank will agree to buy some of the debt.

In return, the troubled countries must agree to spend less money and to put their finances in order.

When countries lend money to other countries, they receive small payments called interest.

When a country borrows too much money, some of the people who lent the money begin to worry that they won’t get their money back. So they demand higher and higher interest payments.

This puts pressure on countries that are already having trouble paying back all the money they borrowed.

It pushes their debt even higher.

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News

More Money Problems For Greece

The debt problem in Greece is causing problems for the country again. And, once again, there is fear these money problems could spread to other countries around the world.

This time, some people in Greece have begun taking all their money out of the country’s banks because they’re worried about what will happen to the value of their money if Greece stops using the euro.

The euro is a currency, like the dollar, and it is used in many countries in Europe.

But Greece has borrowed a lot of money that it is having trouble paying back, and there have been talks about whether Greece should be allowed to keep using the euro.

Greece
Breaking News News Politics

Greece To Get New €130B Bailout

Greece was in trouble because it took on too much debt.

But other countries have agreed to help Greece by lending the country more than 130-billion euros. Euros (€) are the units of money used in 17 countries in Europe including Greece, France and Germany.

The countries that have agreed to bail Greece out of its money problems are demanding something in return. They are insisting that the government of Greece spend less.

Toronto Maple Leafs
News Sports

Maple Leafs, Raptors, and TFC Sold

Some of Toronto’s most popular sports teams including the Maple Leafs, Raptors, and Toronto Football Club have new owners.

They have been bought for more than $1-billion by Rogers Communications and Bell Canada, two Canadian companies that sell phones and TV and internet services. Bell and Rogers also own the country’s two main sports-only channels, TSN and Sportsnet.

Rich and poor
News Politics

Gap Between Rich-Poor Growing: OECD

Canada’s rich people are getting richer and the country’s poor people are getting poorer.

That’s because the gap — or distance — between the amount of money the richest and poorest people earn at their jobs is widening.

The richest Canadians earn 10 times more than the poorest.

That means if the average rich person earns about $100,000 a year, the poorest earns only about $10,000 for a whole year.

A new report by an international organization called the OECD* said the same thing has been happening in many countries including the United States.

It has been happening since the 1990s, before the new millennium.

A pile of antiquated Greek money in a shop; Image: Andrzej22/Jon Eben Field
Breaking News Politics

Financial Crisis In Greece Affecting EU

Greece is having a crisis over its money and its leaders. Greece’s crisis is affecting other countries in Europe.

Over time, Greece has borrowed a lot of money–more than it can pay back.

The European Union (EU) is a partnership of 27 countries including Greece.

The EU countries have been working together to come up with a plan to help Greece repay the money it owes.

If Greece can’t figure out a solution for its problems, it may go bankrupt or be forced out of the European Union.