Thursday 29 December 2011

2011: The economic year in pictures (part 2)


May 2011: Sony online entertainment suffered a major hacking scandal in mid spring of 2011. Twenty-four million users of the Sony online entertainment company lost information to the hackers, whilst a further 12,700 people lost credit card numbers. The hacking led to the closure of the playstation network for a week (much to the glee of you xbox users) and sparked a number of hacking scandals.

June 2011: Greece’s sovereign debt rating was lowered to CCC by Standard and Poor on the 13th June. This was the lowest sovereign debt rating in the world at that point and resulted in huge losses for major stock exchanges. Although, Prime Minister George Papandreou proposed a reshuffled cabinet the damage had already been done and the Eurozone crisis ensued. 

July 2011: Formula one in 2012 will for the first time, not be shown on free to air TV as a result of SKY securing a seven year deal to show the motorsport. The deal has sparked much controversy throughout the UK, with many bemoaning the ‘Beebs’ cost cutting measures and the amount of control that SKY now has over live sport shown in the UK.

August 2011: The London riots in August created much social disharmony amongst the nation. People began to doubt the mindset of the ‘youth’ along with peoples respect for others. To go along with this the government faced a huge financial problem with their estimated to have been over £100million worth of damage and over 14 companies filing for bankruptcy as a result of the riots.

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