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Under pressure from the European Union and international markets to rein in the nation's €300bn debt, Greece announced last week that it would have to enforce tough deficit-cutting measures. But the coming austerity package is leading panicked wealthy Greeks to divert their savings out of the country. A staggering €8bn-€10bn may have been taken out of Greece by private investors since it became engulfed by economic turmoil in November.
The founder of the Virgin group, whose rail, airline and travel companies are sensitive to energy prices, feels that the ¬coming oil crisis could be even more serious than the credit crunch.
According to reports, the new feature will allow Gmail users to view a stream of status updates from people they choose to connect with. It will be tightly integrated with Google's video-sharing site YouTube and its photo-sharing site Picasa.
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