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For more than two years, the Organization for Economic Cooperation and Development, an international economic organization of 34 of the world's richest countries,have been debating how to produce a global tax system that would eradicate the sort of tax avoidance that has seen Apple squirrel away more than $160 billion overseas.

Eurozone finance ministers will meet again Monday for crunch talks on how to keep Greece solvent, and in the euro, after a first round of discussions ended in failure Wednesday night. Europe insisted Greece honor its commitments under the existing bailout program, 30% of which the new left-wing government of Prime Minister Alexis Tsipras says is unacceptable.

The holy river of Ganga that flows through new Delhi, capital of India, supports the lives of people living in about 118 towns. Over time this river has become highly polluted; some factors to blame for this would be modernization and ignorance. During the summer of 2014 a new Prime Minister was elected who has set up a project to clean this water body. The opportunity cost in saving this water body is time and financial resources. Roughly, it is said that the government plans of completing this project over 18 years while using millions of INR. The government is giving up these valuable resources to achieve something that is of high importance.

According to the article, the Federal Reserve may be increasing interest rates in early 2015, increased rates anticipated to come much later in the year. Fed-Watchers and analysts may begin to see the accelerating wage and price inflation, as well as unemployment rates reaching NAIRU. This article also explains some key elements in our learning for this week such what NAIRU is, pressuring on wages, effects of low unemployment rates, etc...

The administration is close to sealing a trade pact with 11 Asia-Pacific trading partners, the Trans-Pacific Partnership (TPP), and is also negotiating a deal with the European Union. U.S. Trade Representative Michael Froman said on Tuesday Treasury had the lead on currency issues.

"India's merchandise exports expanded by more than 10% for the second month in a row in June, the latest sign that India's economy may be rebounding. June exports rose 10.2% from the year-earlier month, to $26.48 billion, after climbing 12.4% in May..." This shows how an injection (export) to the circular flow system of India has caused the money flowing to increasing for the better of the country. This is helping cover up the leakages that Indians spend on imported products mainly. The campaign by the new Prime Minister to increase exports and decrease imports is having significant impact on the countries economy.