The US put $700 billion into a bailout of US banks during the financial crisis. Now the nations of the euro zone are proposing a similar bailout fund – €750 billion – to deal with the Greek debt crisis.
As the Greek debt crisis rocks the eurozone, European Central Bank President Jean-Claude Trichet downplayed fears that Portugal and Spain would need to be bailed out.
Three bank workers, one of them pregnant, were killed in Athens riots when anti-austerity protesters threw Molotov cocktails at an Athens bank Wednesday.
About 100 Communist Party supporters broke through the gates of the Acropolis, the city's chief ancient monument, and hung banners in Greek and English reading 'Peoples of Europe Rise Up.'
With its bonds rated as junk, the debt crisis in Greece must prompt Athens to take far greater austerity measures than originally planned. Political leaders and the public must find the courage for the necessary sacrifice.
Every government affects the value of its money. So what distinguishes Chinese currency manipulation from US dollar intervention?