Markets across the world soared after the European Central Bank promised the creation of a $955 billion rescue fund for eurozone countries with debt problems. But some economists are worried about moral hazard – bailouts leading to reckless spending.
05/10/2010 03:25 pm
Spoken English is no longer the official language in the Philippines. Filipino businesses bemoan the loss of Filipino English speakers. The government is responding with mandatory English proficiency classes in schools.
05/10/2010 12:47 pm
The 'starve the beast' strategy – raising spending but not taxes – hasn't cut the deficit.
05/10/2010 12:15 am
To contain the Greek debt crisis, EU needs to guarantee lending to all members in exchange for austerity measures.
05/09/2010 06:56 pm
Vice President Joe Biden has arrived in Spain to meet with Prime Minister Jose Luis Rodriguez Zapatero and King Juan Carlos for talks.
05/08/2010 10:53 am
Photos of the Day Photos of the Day 05/07
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.
05/07/2010 05:38 pm
How responsible were rating agencies for the financial crisis?
05/07/2010 05:10 pm
The German parliament approved the country's $28 billion contribution to the Greek bailout package on Friday. Chancellor Angela Merkel shifted from initial opposition to paying Greece's debts to concern over economic fallout in the rest of Europe.
05/07/2010 02:46 pm
Cartier-Bresson captured moments and movements of profound social change with an artist's eye. A new exhibition looks at 45 years of his iconic work.
05/07/2010 01:51 pm