AP - Warning of a "catastrophe" that would leave Greeks subsisting on food stamps and the country wallowing in bankruptcy, Greek leaders urged lawmakers Saturday to pass more painful spending cuts on the eve of a crucial vote to qualify for a massive bailout.
Brussels (AFP) - Europe granted Greece a crucial four-month extension to its massive debt bailout, offering precious breathing space, but at the cost of huge concessions including a commitment to spell out reforms within two days.
In a New York Times Op-Ed, Treasury Secretary Jacob Lew made a plea for more government and higher taxes. Of course, those words were not his title.
Instead, Lew disguised his message by labeling it Lessons From a Crisis.
Let's take a look at some details.
WASHINGTON — The International Monetary Fund said Thursday it will likely cut its growth forecasts for the United States and the global economy if automatic U.S. spending cuts take effect on Friday, and warned that the U.S.’s biggest trading partners would be hardest hit.
IMF spokesman William Murray said that if the cuts are fully implemented, the IMF would likely shave at least 0.5 percentage point off its current forecast of 2% growth for the U.S. in 2013.
United Nations (United States) (AFP) - The largest gathering of world leaders on climate change opens at the United Nations on Tuesday amid calls for action to put the planet on course toward reversing global warming.