U.S Federal Reserve Chairman Ben Bernanke testified before the House Committee on Oversight and Government Reform regarding the European debt crisis.
Hedge funds that have lost billions betting on or against Greece, appear to be getting back into the same game.
From a financial perspective, China is truly about to take over the world, as not only is the U.S. dependent on China for investment, but now the eurozone is asking China for significant investment.
European Union (EU) leaders have reached a tentative agreement to tamper down the growing debt crisis, however some analysts said the lack of real details could create trouble with banks.
Greek police and protesters clashed at an anti-austerity demonstration outside the Parliament
The day after Slovakia approved an expanded financial bailout program for the eurozone, the rating agency Standard & Poor’s downgraded Spain, citing a lowered growth forecast, as well as the difficulty of finding financing
The global economy is showing signs of deep distress with the economy of Europe, as Greece reported that it would miss its deficit targets this year, highlighting the potential fact that the country may not be able to access necessary bailout funds to avoid default:
While Europe continues to endeavor to save Greece from economic collapse, it does not have the economic stamina to save Italy and Spain
Credit rating agency Moody’s has slashed the ratings for two French banks, Societe Generale and Credit Agricole, due to concerns over their significant exposure to Greek debt
Caterpillar Inc. CEO Doug Oberhelman is disgusted with the politics of Washington that are hammering the overall U.S. economy
