As Greece continues to try and arrest its economic decline, Germany OK’d another $170 billion worth of bailout funds to keep the government operating, to prevent the country from going bankrupt and to keep Greece in the eurozone.
Amid continued unrest and uncertainty about Greece’s economic future, there’s talk that it’s time to seriously consider letting Greece leave the eurozone.
World markets slid dramatically after Greek Prime Minister George Papandreou stunned European leaders with an announcement that his government would hold a referendum on a new aid package for Greece.
Top of the Hour: Deal Near to Recapitalize European Banks, Morning Headlines
Germany and France are near a deal to recapitalize European banks. On Sunday, France and Belgium agreed to nationalize Dexia, Belgium’s largest bank, with billions of taxpayer money after the bank became the first causality of the Greek debt crisis.