Media Analysis Week Four


Major News Story

Greece to miss deficit targets despite austerity

“Greece will miss a deficit target set just months ago in a massive bailout package, according to government draft budget figures released on Sunday, showing that drastic steps taken to avert bankruptcy may not be enough.

The dire forecasts came while inspectors from the International Monetary Fund, EU and European Central Bank, known as the troika, were in Athens scouring the country’s books to decide whether to approve a loan tranche. Without that installment, Greece would run out of cash as soon as this month.

European officials are scrambling to avert an abrupt Greek bankruptcy, which would wreck the balance sheets of European banks, jeopardise the future of the single currency and potentially plunge the world into a new global financial crisis.”

Curently  around the world there is an economic crisis occuring.  In the United States they have seen families lose their jobs, their homes and businesses. In Canada, our government is talking of major reductions in government spending and the need for Canadians to be smart with their money.  But how real is the risk and would the government let it happen. Well the risk is very real and it is very possible it could happen in Canada given the events that are taking place in Greece over the past year or so.  Even with all the financial support from other European countries, Greece is on the edge of total financial collapse.   

Under-reported News Story

Daily aspirin tied to risk of vision loss

 “Seniors who take aspirin daily are twice as likely to have late stage macular degeneration, an age-related loss of vision, than people who never take the pain reliever, a new European study reports.

The data do not show that aspirin causes vision loss. But the findings are of concern if aspirin somehow exacerbates the eye disorder, researchers say, given how many seniors take it daily for heart disease.”

I’ve noticed since I started following the news over the past couple of years the stories related to risks in medical treatments and medicines never seem to be big news, unless there is a major loss of life or a lawsuit.  In my opinion this because the large medical companies involved have a lot of money and potential influence with the governments.  This is wrong because the health of citizens should be the main focus and not the companies making money. I think this is another example of the “power of big business”.

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