A better-than-expected US jobs report helped abate selling pressures on Wall Street. But Europe's debt problems are pressuring EU officials to act.
European leaders in Brussels today agreed to a deal for Greece that includes $156 billion in aid, private investors, and extending the maturity period on Greek bonds.
Since last year's flotilla debacle killed nine Turkish activists, Israel has cultivated ties with Greece, offering the debt-ridden country generous military aid.
The Greek coastguard escorted a US boat seeking to join the Gaza flotilla back to port and said it will stop all other attempted departures. It looks like a big diplomatic victory for Benjamin Netanyahu.
On the streets of Astoria, Queens, where signs are in Greek and English, there are no whiffs of tear-gas, but passions run high. Despite words of blunt criticism, many wonder how they can help.
The Greek Parliament passed an austerity package today, but the possibility of default still looms.
The protests have become the largest social movement in Greece since martial law in 1974. More than a pushback against austerity, they hint at broad skepticism toward Europe's leaders.
Federal Reserve Chairman Ben Bernanke says that even if Greece defaults, a prospect that has roiled US financial markets for weeks, the impact on US banks would be 'very small.'
Prime Minister George Papandreou is faced with passing an unpopular austerity program so it can get the $17 billion it needs by July 15 to avoid default on Greek debt.
If Prime Minister George Papandreou survives tonight's confidence vote, he will push for the austerity measures needed to secure further financial aid from EU and IMF to avoid a default.