48 HOURS TO SAVE THE EURO AS GREECE DEAL STALLS
Saturday July 16,2011
EXPERTS last night warned Europe has only 48 hours to save the single currency (euro) amid concern over the failure to seal a new rescue plan for debt-laden Greece.
The inability of politicians to agree a solution to the financial crisis threatening Europe sparked market jitters as continued uncertainty threatened to undermine the eurozone. One City executive said: “We need to come in on Monday morning and see something happening, otherwise I fear the worst.”
There are concerns that Italy and Spain could follow Greece, Portugal and Ireland in going broke and needing bailouts from richer countries to keep afloat.
Republicans’ Budget Balance Short on Details
Congressional Republicans are clear in their demand for a constitutional amendment forcing the government to balance its budget. What they’re not offering is clarity on how to get there.
It’s politically popular to line up behind such an amendment; laying out specific cuts is less appealing.
LONDON (MarketWatch) — Gold futures rallied above $1,600 an ounce in electronic trading on Monday, as concerns about the euro-zone debt crisis and the lack of agreement on raising the U.S. debt ceiling prompted investors to seek a safe haven in the precious metal.
And of course, the Lame Stream's own Fox News: 3 articles about what a dope Obama is, an how inconsequential the debt ceiling problem is. Thank Gold somebody gets it:
President Obama Doesn't Know the First Thing About Economics
Published July 16, 2011
Published July 17, 2011