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th-30102009The credit outlook is negative reflecting the country’s deteriorating economic environment, fiscal risks associated with the immediate economic deterioration and associated contingent liabilities. There are further concerns that the country could experience a liquidity crunch unless additional foreign capital is secured!

Montenegro fell into recession in the first half of the year when the economy shrank by 3.5%. Badly affected by the global economic crisis, the end of the global property boom and the lack of liquidity in the banking sector, the economic recession will likely cause a decline in government revenues, leading to higher government debt that will persist over time.

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Did you know?

that Confucius about 2,500 years ago argued that the government should not compete for profit with the people, as it would only result to the exploitation of the population?

that the Boeotian Hesiod about 3000 years ago theorized on the entrepreneurship typical of the market (an early laissez-faire), identifying the effects of government debasement of the coinage, which causes a decrease in its purchasing power (think Adam Smith, Keynes and post Keynes), arguing about the importance of competition and the importance of justice and the law in order to foster order and harmony in society?

that of all the restaurants that are opened, 90% of them fail in the first year and of the remaining ones that survive, 90% of those fail in the second year?

that Pytheas the ancient Greek explorer, mathematician, astronomer and navigator must have travelled to the American continent at the time of Alexander the Great?

that recycling 1 ton of paper saves 17 mature trees, 7,000 gallons of water, 3 cubic yards of landfill space, 2 barrels of oil, and 4000 kilowatt hours of electricity; this is enough energy to power the average North American home for 5 months?

that every year, Americans buy more than 100 million cell phones, yet fewer than 20% of old cell phones are recycled and that recycling just a million cell phones reduces greenhouse gas emissions equal to removing 1,368 cars off the road for a full year?

that Pytheas has presence in 41 countries?

that 1 recycled tin would save enough energy to power a television for 3 hours; 1 recycled glass bottle would save enough energy to power a computer for 25 minutes; 1 recycled plastic bottle would save enough energy to power a 60-watt light bulb for 3 hours?

that the revenue that is generated from gambling is more than the revenue derived from movies, cruse ships, recorded music, theme parks and spectator sports combined?

that in a lifetime the average European or North American will discard more than 600 times his or her adult weight in garbage and about a ton of trash per person per year?

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