UEFA Champions League News,Livescores and Entertainement at www.eurochampsleague.com

The UEFA Champions League, which evolved from the European Champion Clubs' Cup, is a seasonal club football competition organized by UEFA since 1992 (or overall in its older format since 1955) for the most successful football clubs in Europe. The prize, the European Champion Clubs' Cup (more commonly known as the European Cup), is one of the most prestigious club trophies in the sport. The UEFA Champions

The tournament consists of several stages. In the present format it begins in mid-July with three preliminary knockout qualifying rounds. The 16 surviving teams join 16 seeded teams in a group stage. Eight group winners and eight runners-up enter the final knockout rounds, which end with the final match in May. Previously only the champions of their respective national league could participate in the competition; however, this was changed in 1997 to allow the runners-up of the stronger leagues to compete as well.

Like the FIFA World Cup, the UEFA Champions League is sponsored by a group of multinational corporations, in contrast to the single main sponsor of either the Barclays Premier League, the Copa Santander Libertadores or Serie A TIM. When the Champions League was created in 1992, it was decided that a maximum of eight companies should be allowed to sponsor the event, with each corporation being allocated four advertising boards around the perimeter of the pitch, as well as logo placement at pre- and post-match interviews and a certain number of tickets to each match. This, combined with a deal to ensure tournament sponsors were given priority on television advertisements during matches, ensured that each of the tournament's main sponsors was given maximum exposure.

The tournament's current main sponsors are: Ford, Heineken (excluding France, where alcohol sponsorship is restricted)MasterCard, Sony - The PlayStation series also sponsors the tournament as one of Sony's brands, Vodafone. Adidas is a secondary sponsor and supplies the official match ball, as they do for all other UEFA competitions (excluding the UEFA Cup).

The competition attracts a huge television audience, not just in Europe, but throughout the world. The matches are broadcast in over 70 countries in more than 40 languages each year, and some important matches can attract over 200 million TV audience, often considered as one of the most watched sports events on TV.

Join the passion of the most important tournament in the World. The UEFA Champions League latest news, pics, results, live scores, game preview and reviews are here. Also predictions, breaking news and entertainment news. At http://eurochampsleague.com.

The Credit Crunch

Credit crunch is a term used to describe a sudden reduction in the general availability of loans (or "credit"), or a sudden increase in the cost of obtaining loans from the banks.

There are a number of reasons why banks may suddenly increase the costs of borrowing or make borrowing more difficult. This may be due to an anticipated decline in value of the collateral used by the banks when issuing loans, or even an increased perception of risk regarding the solvency of other banks within the banking system. It may be due to a change in monetary conditions (for example, where the central bank suddenly and unexpectedly raises interest rates or reserve requirements) or even may be due to the central government imposing direct credit controls or instructing the banks not to engage in further lending activity.

The global credit crunch we’re now experiencing was caused when people with poor credit ratings (or “subprime credit risks”) were unable to meet higher debt repayments to US mortgage brokers due to rising interest rates. As more mortgages were foreclosed in America (so properties could be repossessed and then sold on for a profit), their previously buoyant housing market nosedived. These subprime losses started in early 2006 and continued to worsen throughout 2006 and into 2007.


The credit crunch will not end until the U.S. housing market has been stabilized— policymakers must understand that. Unfortunately, U.S. house prices are declining at an accelerating rate, while unsold housing inventories remain at record levels and a rising tide of foreclosures threatens to drive prices even lower. The available policy options are not pretty. But a policy of inaction is not a viable alternative.

PlayStation

The PlayStation 3 (officially marketed PLAYSTATION 3, commonly abbreviated PS3) is the third home video game console produced by Sony Computer Entertainment, and the successor to the PlayStation 2 as part of the PlayStation series. The PlayStation 3 competes with Microsoft's Xbox 360 and Nintendo's Wii, as part of the seventh generation of video game consoles.

A major feature that distinguishes the PlayStation 3 from its predecessors is its unified online gaming service, the PlayStation Network, which contrasts with Sony's former policy of relying on game developers for online play.Other major features of the console include its robust multimedia capabilities, connectivity with the PlayStation Portable, and its use of a high-definition optical disc format, Blu-ray Disc, as its primary storage medium. The PS3 was also the first Blu-ray 2.0-compliant Blu-ray player on the market.

The PlayStation 3 was first released on November 11, 2006 in Japan, November 17, 2006 in North America, and March 23, 2007 in Europe and Oceania. Two SKUs were available at launch: a basic model with a 20 GB hard drive (HDD), and a premium model with a 60 GB hard drive, and several additional features(the 20 GB model was not released in Europe or Oceania).Since then, several revisions have been made to the console's available models and it has faced competition from the other seventh generation consoles. As of July 17, 2008, the PS3 is in third place in US home console sales for its generation.

Sony Computer Entertainment America announces that the PlayStation 3 gaming console is getting a new bundle, aimed at the North American market. The bundle is set to retail for close to 500 dollars, specifically 499.99 dollars, and the package will include a 160 GB PlayStation 3 console.

You can find out what the best PlayStation games, and accessories and just play.

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