Tsipras Is Learning From Merkel Who’s the Boss

Alexis Tsipras is flouting the cardinal rule of political survival in Europe: don’t displease Angela Merkel. The German chancellor’s disapproval helped end the political careers of former Italian prime minister Silvio Berlusconi and Greek leader George Papandreou.

Jack Lew: US could default on debt by 'end of month'

US Treasury Secretary Jack Lew has warned the US may default on its debt by the end of the month if Congress does not raise its borrowing limit.

US Treasury warns Congress of October deadline on debt ceiling

Treasury secretary Jacob Lew said Wednesday the government will have exhausted its borrowing authority by 17 October, leaving the United States just $30bn cash on hand to pay its bills.

Fed minutes reveal disagreement over Ben Bernanke stimulus programme

Federal Reserve officials are increasingly split over chairman Ben Bernanke's $85bn-a-month stimulus programme, according to the minutes of their latest meeting.

Big US budget cuts begin as both sides trade blame

WASHINGTON: President Barack Obama and congressional Republicans have refused to concede any share of the blame for failing to stave off automatic spending cuts that will slash $85 billion in federal spending.

State governors to meet with Obama, Boehner on "fiscal cliff"

(Reuters) - With a few weeks remaining before the onset of "fiscal cliff," a bipartisan delegation of governors is set to meet Tuesday with President Barack Obama and congressional leaders in search of some answers about the impact of deficit reduction measures on their state budgets, which rely heavily on federal aid.

Spanish Unions Demand Vote on Cuts as 65,000 March in Madrid

Spanish union leaders demanded Prime Minister Mariano Rajoy test support for his budget cuts in a referendum as 65,000 protesters took to the streets of Madrid.

Italians hope new government can save their nation

ROME – Even in a country where an inept, unstable and bickering government is nothing new, Italians say they are nervous about the future."What will be next if the Italian economy goes bankrupt?" asked Giacomo Levy, a 33-year-old psychologist. "It's something hard to imagine. People or business can go bankrupt. But the government?"