GLOBAL: Universities lose billions as recession deepens

Geoff Maslen in an article in University World News (14 December 2008) reports that

Few higher education institutions around the world appear to have escaped the collapse of financial markets. In Asia, Africa, North America, Europe, Britain and down under in Australia and New Zealand, universities have been hit hard as the value of their investments in property and shares and, in many cases, their income from diverse sources crumples. How to counter, or at the very least cope with, this alarming situation – unique in the experience of university managers – will be the great challenge in the year ahead. As the following stories show, for higher education the boom days are well and truly over. Read the rest of this article here.