Despite historically high projected US budget deficits, the US is the 'most credit-worthy country in the world,' says Christina Romer, chair of President Obama's Council of Economic Advisors.
European Union (EU) leaders promised on Thursday that they stand waiting to help debt-laden Greece, if needed. But the euro declined as investors worried about the lack of a clear commitment to a bailout package.
Polls show that nearly two-thirds of Greeks support austerity measures to deal with the Greece debt crisis. But taxi drivers, facing new gas taxes, went on strike Thursday.
US space shuttle Endeavour blasted off from Cape Canaveral, Fla., in what was probably the shuttle program’s final nighttime launch.
The US and other NATO allies worry that the French sale of a $750 million Mistral warship to Russia will set an arms-trading precedent. But analysts say the ship does not yet represent the transfer of cutting-edge technology to Russia.
China was criticized by the US ambassador and other foreign diplomats after a Beijing court rejected the appeal of top Chinese dissident Liu Xiaobo against his 11-year jail sentence, the severest in recent memory.
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.