Bloomberg: Greek Default Would Spell ‘Havoc’ for European Banks a Year After Bailout

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Bloomberg: Greek Default Would Spell ‘Havoc’ for European Banks a Year After Bailout
By Aaron Kirchfeld and Elena Logutenkova - Jun 20, 2011 12:31 PM GMT+0900

A year after European officials bailed out Greece, investors say the region’s banks haven’t raised sufficient capital or cut loans enough to withstand the contagion that may follow a default.

Gov't looks into algae potentials

Gov't looks into algae potentials
By ELLALYN B. DE VERA
June 20, 2011, 2:23pm

MANILA, Philippines — The Department of Agriculture (DA) has consulted algae experts to look into the potentials of algae as a source of biofuel in the country.

Bloomberg: Europe May Withhold Half of Greek Payment

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Europe May Withhold Half of Greek Payment
By James G. Neuger and Jonathan Stearns - Jun 20, 2011 8:16 AM GMT+0900

European governments weighed withholding half of Greece’s next 12 billion-euro ($17.2 billion) aid payment, seeking to keep the country solvent while maintaining pressure on the government to slash the debt that pitched the euro area into crisis.

CNNMoney: Is the U.S. like Greece?

AMERICA'S DEBT CRISIS
Is the U.S. like Greece?
By Jeanne Sahadi @CNNMoney June 19, 2011: 11:15 AM ET

NEW YORK (CNNMoney) -- Deficit hawks often cite Greece's debt nightmare as a cautionary tale for the United States.

WSJ: Fresh Greek Shock Waves

EUROPE NEWS|JUNE 16, 2011
WSJ: Fresh Greek Shock Waves
Violent Street Protests in Athens Shake Government, Spark Global Market Woes
By COSTAS PARIS, ALKMAN GRANITSAS and BRUCE ORWALL

ATHENS—Greece shook global markets, intensifying fears of a default, as tens of thousands of demonstrators protested a new round of budget-cutting plans and its prime minister offered to step down to try to preserve them.

Bloomberg: Default by Greece ‘Almost Certain’: Greenspan

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Default by Greece ‘Almost Certain’: Greenspan
By Vivien Lou Chen - Jun 17, 2011 8:46 AM GMT+0900

Alan Greenspan, former Federal Reserve chairman, said a default by Greece is “almost certain” and could help drive the U.S. economy into recession.

Moody’s: Foreclosure Delays Prolong U.S. Housing Correction

Foreclosure Delays Prolong U.S. Housing Correction

- The housing correction will take a little longer than had been expected.
- Resolution of processing issues should be reached by the fall.
- House prices should hit bottom in 2012.

Bloomberg: Greek Bank Threat is Main Stability Risk: ECB

Related News: Economy, Europe, Finance
Greek Bank Threat is Main Stability Risk: ECB
By Jeff Black and Jana Randow - Jun 16, 2011 12:00 AM GMT+0900

The European Central Bank said the threat of the Greek debt crisis spilling over into the banking sector is the biggest risk to the region’s financial stability.

CNNMoney: Inflation picks up speed

RECOVERY AT RISK
Inflation picks up speed
By Chris Isidore @CNNMoney June 15, 2011: 9:28 AM ET

NEW YORK (CNNMoney) -- The pace of inflation continued to climb in May, as the recent pullback in gas prices was not enough to ease the strain on consumers' wallets.

Bloomberg: Debt Limit ‘Wrong Tool’ to Force Cuts: Bernanke

Related News: US, Bonds, Economy
Debt Limit ‘Wrong Tool’ to Force Cuts: Bernanke
By Caroline Salas Gage and Joshua Zumbrun - Jun 15, 2011 4:43 AM GMT+0900

Federal Reserve Chairman Ben S. Bernanke said the U.S. debt ceiling shouldn’t be used as a bargaining chip to force budget cuts, and failing to raise it could cause “severe disruptions” in financial markets.