European Union leaders gathering for a crucial summit Thursday face tough choices: come to Greece’s rescue with the first ever bail out of a eurozone state or hold back and see if Greek spending cuts and reforms can avert a default.
Stocks rallied in the US and in Europe on Tuesday on expectations of an emergency European Union bailout for Greece. But Greece, with a ballooning national debt, is not out of the woods yet.
A 'Tobin Tax' would add a tiny premium to foreign currency trades — with perhaps $1 trillion in benefits.
Australia's employment surged by 41,000 jobs in August.
A report that top oil producing nations wanted to get paid in currencies other than the dollar made Wall Street skittish Tuesday.
The US may have headed off a deeper recession by investing hundreds of billions into major companies. But it drives up deficits and creates uncertainty among investors.