Fitch ratings agency is warning of a possible downgrade of Greek bonds, adding pressure on the Socialist government as it debates the 2011 budget in parliament. Get the full story »
Inside these posts: Greece economy
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Stress tests: Focus is on banks that barely passed
So few banks failed Europe’s long-awaited stress tests on Friday that investors will likely focus instead on the dozen or so banks that just scraped through when the markets reopen next week. Get the full story »
Stress tests and retail sales lift the Dow
The Dow climbed 274 points to 10,018 today as investors were encouraged by retail sales in the U.S. and the fact that stress tests are to be done on European banks. Those tests are supposed to show how banks will hold up if they get hit with bad debts from weak European countries such as Greece and Spain.
New riots erupt after Greece passes austerity cuts
Associated Press | Greek police fired tear gas to repel
stone-throwing protesters after lawmakers approved drastic austerity
cuts Thursday needed to secure international rescue loans worth $140
billion.
The rescue loans are aimed at containing the debt crisis and keeping
Greece’s troubles from spreading to other countries with vulnerable
state finances such as Portugal and Spain. The money will come from the
International Monetary Fund and the 15 other governments whose
countries use the euro.
Clashes in Athens broke out at the end of the main protest that drew
tens of thousands of people as police pushed back a few thousand
demonstrators outside parliament.
