California Declares Fiscal Emergency

In a bid to pressure lawmakers to pass legislation for a new budget that has been delayed for more than a month, Governor Arnold Schwarzenegger has declared a fiscal state of emergency. California’s economy, which is the eighth largest in the world, faces a budget deficit of $19bn (£12bn).

Source: BBC News

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.