2015 Event The U.K. Labor Party elects left-wing Jeremy Corbyn as its new leader; Corbyn promises to address poverty and economic inequality 2015 Event China's central bank takes action to reassure investors that it is attempting to address the nation's economic downturn, reducing interest rates and the amount of reserve funds required to be held by banks 2015 Event Stock markets around the world fall drastically due to concerns about an economic slowdown in China; the Dow Jones falls 1,000 points, closing down 588 points, while the Shanghai composite closes down 8.5% 2015 Event China devalues the yuan by 1% after devaluations of 1.62% and 1.92% over the past two days; the moves are an effort to stem an economic slowdown by boosting the competitiveness of exports and reducing the costs of borrowing 2015 Event The Shanghai Composite Index, representing China's stock market, drops 8.5% over fears that the government will withdraw support that has kept stock prices high in the midst of economic slowdown; regulators deny that such a change will be made 2015 Event U.S. President Barack Obama speaks out in defense of the recent nuclear agreement between Iran and Western nations; the deal removes economic sanctions against Iran in exchange for reductions in its technological research and its nuclear fuel 2015 Event Greece and its creditors agree to a bailout of up to 86 billion euros in exchange for economic reforms to include changes to the pension system and tax laws; the Greek Parliament must still approve the deal 2015 Event The U.S. Federal Reserve has cut its 2015 inflation and economic growth predictions for the U.S. and will likely wait until at least June of this year to raise interest rates 2015 Event Creditor nations agree to extend Greece's bailout program by four months as long as required economic reforms continue; new Greek Prime Minister Alexis Tsipras had campaigned on reversing the reforms but now accepts the terms to avoid financial chaos 2014 Event Japan passes a $29 million fiscal stimulus package to improve the economy; the funds will be allocated to supporting small businesses, stimulating local economic activity, and strengthening areas damaged by destructive natural forces 2014 Event After two years of hostility between Japan and China over control of certain islands in the East China Sea, Japanese Prime Minister Shinzo Abe and Chinese President Xi Linping shake hands during the Asia-Pacific Economic Cooperation Summit 2014 Event President Xi Jinping of China begins a visit to India today to discuss strengthening economic relations and potentially resolving disputes regarding segments of the border between the two nations 2014 Event The Federal Reserve will continue its current program of slow withdrawal of economic stimulus measures, as U.S. unemployment and underemployment numbers have not improved quickly enough to warrant a change in policy 2014 Event Former British Prime Minister Tony Blair has accepted a role as economic advisor to Egyptian President Abdel Fattah el-Sisi in order to help Egypt reform its economy and develop new business opportunities 2014 Event Spain will increase spending in an $8.2 billion program aimed to stimulate economic growth; the country has been working to overcome an unemployment rate of 25%, but recent reports have shown an encouraging decline in jobless claims 2014 Event The Bharatiya Janata Party wins India's general election, defeating the Indian National Congress; the results appear to signal a desire for greater economic progress 2014 Event Leaders from around the world attend the World Economic Forum in Davos, Switzerland 2014 Event A day before the U.S. Senate will vote on extending emergency unemployment benefits, Gene Sperling, Director of the White House National Economic Council publicly promoted the case for extending benefits 2013 Event Three American economists win the Nobel Memorial Prize in Economic Sciences: Eugene Fama, Lars Peter Hansen, and Robert Shiller 2013 Event Venezuelan President Nicolas Maduro expels three U.S. diplomats, accusing them of 'economic conspiracy' related to a power-grid shutdown 2013 Event Signs of deteriorating economic security are suggested by an Associated Press survey stating that four out of five U.S. adults struggle with joblessness, near-poverty or reliance on welfare for at least parts of their lives 2013 Event In the midst of an increasing industrial slowdown, China institutes business tax breaks and export liberalization in an effort to boost its economic growth 2013 Event In Japan, optimism for economic revival sparked Bank of Japan's stimulus plan, impacts Japan's stock market index; following its release, the Nikkei 225 hits its highest level in nearly five years 2013 Event Davos, Switzerland hosts its 2013 World Economic Forum 2012 Event Japan appoints its new finance minister, Koriki Jojima, and Seiji Maehara as its new minister of national strategy and economic policy 2012 Event In an effort to ease economic sanctions on Myanmar, Nobel Laureate Aung San Suu Kyi embarks on a 17-day tour of the United States 2012 Event The People's Republic of China economic growth rate experiences to its lowest level in three years, 7.6 per cent 2012 Event While Greece struggles to overcome its economic crisis, Antonis Samaras, leader of Greece's New Democratic party, negotiates with political rivals to form a coalition government 2012 Event The decision of the Economic Community of West African States to deploy troops to the country is rejected by Mali coup leader Amadou Haya Sanogo 2012 Event French President Nicolas Sarkozy presents an economic reform package that increases taxes and proposes a new tax on financial transactions 2012 Event A German government plan proposing that a eurozone 'budget commissioner' take control of Greece's economic affairs is leaked 2011 Event In Italy, Prime Minister Silvio Berlusconi resigns, as an emergency government takes his place to deal with the country's economic crisis 2011 Event For the second day in a row, global stock markets fall as fears of a deepening economic crisis continue 2011 Event With weak economic prospects and significant levels of public debt, Japan is downgraded to Aa3 by Moody's credit rating agency 2011 Event In Iran, the Central Bank of Iran launches a website which it will use to poll Iranians on planned economic reforms and changing the national currency 2011 Event The 41st World Economic Forum convenes in Davos, Switzerland 2010 Event David Cameron, Prime Minister of Britain, embarks on an official visit aimed at building closer economic ties to the People's Republic of China 2010 Event China's largest fair, Canton Fair, opens and is closely watched as it is the barometer of the country's trade and economic development 2010 Event The Nobel Memorial Prize in Economic Sciences is awarded to economists Peter A. Diamond, Dale T. Mortensen and Christopher A. Pissarides 2010 Event Japan's government approves a $60 billion economic stimulus package 2010 Event President Obama's economic advisor Lawrence Summers announces he will leave his post as head of the U.S. Economic Council 2010 Event Economic losses mount and class action lawsuits are filed as the U.S. Coast Guard plans a controlled burn to remove spilled oil from the Deepwater Horizon disaster 1995 Death Donald Cuthbert Coleman, economic historian, dies at 75 1994 Event Israel and PLO sign economic accord 1993 Event U.N. lifts remaining economic sanctions against South Africa 1993 Event 12 member European Economic Community sets up vast free trade zone 1990 Event U.N. Security Council votes 13-0 to place economic sanctions against Iraq 1988 Event U.S. imposes economic sanctions on Panama 1986 Event European Economic Community sign "Special Act" for Europe free trade 1986 Event U.S. president Reagan proclaims economic sanctions against Libya 1986 Event Spain and Portugal are 11th and 12th to join European Economic Community 1985 Event Farmers converge in Washington to demand economic relief 1982 Event President Reagan proclaims economic sanctions against Libya 1981 Event Greece is 10th country to join European Economic Community 1977 Death Ludwig Erhard, German minister of Economic Affairs (CDU), dies at 80 1975 Event Israel signs an agreement with European Economic Market 1974 Event European Economic Community calls for a European Parliament 1973 Birthday Larry Page, born in East Lansing, Michigan, computer scientist, Google co-founder, named a Global Leader of Tomorrow by the World Economic Forum 1973 Event West African Economic Community formed (Benin, Ivory Coast, Mali, Mauritania, Niger, Senegal, Upper Volta) 1965 Event Dutch ends economic boycott of Rhodesia 1965 Event U.S.S.R. and Persia sign dam building and economic aid pact 1965 Event South Africa begins economic boycott of Dutch products 1964 Event President Johnson signs Economic Opportunity Act 1960 Event Organization for Economic Cooperation and Development (OECD) forms 1959 Event Iraq and U.S.S.R. sign economic/technical treaty 1959 Event Iran and U.S. sign economic / military treaty 1958 Event European Economic Community, known as the Common Market, starts operation 1957 Event U.S.S.R. offers Syria economic/military aid 1957 Event Treaty of Rome establishes European Economic Community, known as the Common Market 1951 Event British begins economic boycott of Iran 1948 Event Organization for European Economic Cooperation (EEC) forms in Paris 1942 Event Franklin D. Roosevelt forms Office of Economic Stabilization 1941 Birthday Albert J Evenhuis, Dutch undersecretary of Economic, VVD 1940 Death Gustaaf Sap, Belgian minister of Economic Affairs, dies at 54 1931 Event Pope Pius XI encyclical On economic crisis 1927 Event International Economic Conference (52 countries including U.S.S.R.) opens 1926 Event Flemish Economic Covenant (VEV) forms in Ghent 1923 Birthday Beryl Sprinkel, Missouri, economist, Council of Economic Advisers 1921 Birthday Jacques Vander Schueren, Belgium, minister of Economic Affairs 1921 Event Lenin proclaims New Economic Politics 1920 Birthday Donald Cuthbert Coleman, economic historian 1915 Event Japan claims economic control of China 1911 Birthday Raymond Scheyven, Belgian minister of Economic Affairs 1879 Event "Exodus of 1879" southern blacks flee political/economic exploitation 1655 Event England and France sign miltary and economic treaties
