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Greek Bailout Details Announced, Eurozone Leaders Reach Agreement

AP | ELENA BECATOROS | Posted 05.25.2011 | Business

BRUSSELS — A hard-won deal to provide a safety net for Greece provided the debt-ridden country with some welcome relief Friday, with its cost of...

The F Word: Cutting the Net When We Need It Most

Laura Flanders | Posted 05.25.2011 | Politics
Laura Flanders

At the very time when the social safety net is most needed, investors the world over are calling it a drag on the world economy.   Here in the U....

All Skewed Up

Max Fraad Wolff | Posted 05.25.2011 | Business
Max Fraad Wolff

In short, we need more robust structural change in the global economy. Absent structural reform, recovery will be skewed up and fragile in rising markets and falling markets.

Frantic EU Scrambles For Solution To Greek Debt Crisis As Euro Plummets

AP | AOIFE WHITE | Posted 05.25.2011 | Business

BRUSSELS — European leaders are facing a moment of truth at a Thursday summit, as markets press them to come up with a financial safety net for ...

Get a Grip: Austerity Does Not Produce Prosperity

Robert Kuttner | Posted 05.25.2011 | Business
Robert Kuttner

Austerity has suddenly become the universally prescribed cure for the fallout from the financial collapse. If widely adopted, it will prove worse than the disease.

Google Wins EU Case Over Fake Luxury Goods

AP | AOIFE WHITE | Posted 05.25.2011 | Technology

BRUSSELS — Luxury goods manufacturers said a ruling Tuesday from the European Union's highest court will stop Google Inc. selling their brand na...

Greek Debt Crisis May Hit U.S. Economy, Says Fed Regional Chief

Yahoo! News | P. Parameswaran | Posted 05.25.2011 | Business

WASHINGTON (AFP) -- The Greek debt crisis may directly affect the US economy by hitting American exports and the financial system, Atlanta Federal Res...

Euro Rescue Deal Approved By German Lawmakers

AP | AOIFE WHITE | Posted 05.25.2011 | Business

BRUSSELS — European Union finance ministers backed tougher sanctions to prevent them running up too much debt in the hopes of winning back marke...

Iran: We Can Have Our Yellow Cake and Eat It, Too

David Harris | Posted 05.25.2011 | World
David Harris

By a combination of weaving, bobbing, feinting, parrying, lying, threatening, winking, hiding, flaunting, and strutting, Iran's leaders believe they've run circles around the West. Sad to say, they may not be entirely wrong.

Wake up, South Asia, and Smell the Carbon

Sunil Sharan | Posted 05.25.2011 | Green
Sunil Sharan

Climate change was the purported theme of the just-concluded summit of the South Asian Association for Regional Cooperation (SAARC) in Thimpu, Bhutan. Instead an Indo-Pakistan rapprochement hijacked the agenda.

Will The EU Issue A Broader Short-Selling Ban?

AP | ROBERT WIELAARD | Posted 05.25.2011 | Business

(AP) BRUSSELS — EU countries should act jointly to regulate so-called naked short-selling of shares and investments to reduce volatility in fina...

Germany Holding Up EU Greece Bailout

AP | ROBERT WIELAARD | Posted 05.25.2011 | Business

BRUSSELS — The European Commission urged Germany and other eurozone governments Friday to put up a package of government-to-government loans to ...

Middle East Quartet Calls For Palestinian State: U.S., Russia, EU, and UN Condemn Continued Israel Building

AP | ROBERT BURNS | Posted 05.25.2011 | World

MOSCOW — U.S. Secretary of State Hillary Rodham Clinton suggested Friday that the United States and Israel have found a way around the worst dis...

Greece Says It Will Appeal To IMF Help If EU Doesn't Deliver Bailout Funds

AP | AOIFE WHITE | Posted 05.25.2011 | Business

BRUSSELS — Greece warned Thursday that it will be forced to turn to the International Monetary Fund if the EU can't agree to a bailout plan next...

AP: U.S. Warns EU That A Derivatives Ban Won't Work

AP | LESLIE PATTON | Posted 05.25.2011 | Business

BRUSSELS — Europe's threat to ban the sort of financial derivatives trading that some blame for worsening Greece's debt crisis wouldn't work, a ...

Greece and the Euro: Recession With No Exit

Barry D. Wood | Posted 05.25.2011 | World
Barry D. Wood

Now the Greeks don't know what hit them and they're already wishing they still had their tattered drachmas. Why?

No More Ouzo

Jeff Danziger | Posted 05.25.2011 | World
Jeff Danziger


Credit Default Swaps Ban: Sarkozy, Merkel Propose Eliminating Some CDS Trades

AP | MIKE CORDER | Posted 05.25.2011 | Business

THE HAGUE, Netherlands — French President Nicolas Sarkozy and German Chancellor Angela Merkel called Thursday for a clampdown on the type of spe...

Merkel: EU Bailout Fund would halt speculators

AP | AOIFE WHITE | Posted 05.25.2011 | Business

BRUSSELS — European officials urged the U.S. to join in a crackdown on speculators who bet against Europe's currency union, warning they might b...

EU Considers Its Own 'Crisis Fund'

AP | ROBERT WIELAARD | Posted 05.25.2011 | Business

BRUSSELS — The European Union plans to create a European Monetary Fund to better coordinate the economies of the 16 countries that use the euro ...

Greece Bonds Sell Off The Charts As Nation Raises Badly-Needed Cash

Posted 05.25.2011 | Business

ATHENS -- (Nicholas Paphitis, AP): Greece raised badly needed cash with a successful bond issue Thursday, passing a key test of its ability to avoid a...

Greece Debt Crisis: Leaders Await EU 'Solidarity' After Huge Budget Cuts

Posted 05.25.2011 | Business

ATHENS, Greece - (By NICHOLAS PAPHITIS, AP) Greece has announced a new austerity plan worth euro4.8 billion ($6.5 billion) in savings to deal with the...

Greece Offers to Repay Loans with Giant Horse

Andy Borowitz | Posted 05.25.2011 | Comedy
Andy Borowitz

In what many are hailing as a breakthrough solution to its crippling debt crisis, Greece today offered to repay loans from the European Union nations by giving them a gigantic horse.

Greek Bailout Details Coming As Early As This Week

Huffington Post | Ryan McCarthy | Posted 05.25.2011 | Business

After three weeks of political wrangling, a deal to bailout Greece may actually be announced later this week, according to several reports this mornin...

Washington Abandons Greece: Beware of Geeks Bearing Grifts

Janet Tavakoli | Posted 05.25.2011 | Business
Janet Tavakoli

The European Union is shocked -- shocked I tell you! -- that Greece used financial engineering to qualify for admission. Exactly how did they think that weaker countries managed to meet the requirements?