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February 21, 2013
Is the U.S. on track to resemble Greece?
Data from the Congressional Budget Office indicate that U.S. debt could reach 153% of the country's economic output by 2035 if spending cuts and tax increases aren't implemented, according to this analysis by Barron's. Greece's debt is currently 153% of its economic output. Barron's (2/16) LinkedInFacebookTwitterEmail this Story
News Roundup:  EU may impose stricter transparency rules on banks  (More stories below ...)

Surveys & Studies:  Investor confidence in Germany soars  (More stories below ...)

  News Roundup 
  • EU may impose stricter transparency rules on banks
    The European Parliament is considering rules that would require banks to reveal taxes and profits on a country-by-country basis. Financial Times (2/19) LinkedInFacebookTwitterEmail this Story
  • New U.S. debt plan proposed
    Democrat Erskine Bowles and Republican Alan Simpson have proposed a plan that they say would reduce U.S. debt by $2.4 trillion over 10 years. Bloomberg (2/19) LinkedInFacebookTwitterEmail this Story
  • France backtracks on budget goal
    The recession in the eurozone means that France probably won't achieve its goal of reducing its budget deficit this year to 3% of gross domestic product, French finance minister Pierre Moscovici said this week. The New York Times (2/18) LinkedInFacebookTwitterEmail this Story
  • EU bankers face tighter pay restrictions
    The European Parliament may place restrictions on bankers' bonuses that exceed salaries. France and Germany support the restrictions. Financial Times (2/17) LinkedInFacebookTwitterEmail this Story
  • Opinion: An overview of the illegal immigration debate
    Congress is debating immigration legislation, and many arguments have been made about whether illegal immigrants hurt the economy, Adam Davidson writes. The New York Times (2/12) LinkedInFacebookTwitterEmail this Story
  Surveys & Studies 
  • Investor confidence in Germany soars
    Investor confidence in Germany increased in February to its highest level in nearly three years, according to an index from the ZEW Center for European Economic Research in Mannheim. "Despite the upbeat ZEW reading, we remain cautious with regard to Germany's prospects as there are many challenges to overcome in 2013," said eurozone economist Johannes Gareis. Bloomberg (2/19) LinkedInFacebookTwitterEmail this Story
  • German banks relied less on crisis funds in January
    German banks' use of European Central Bank crisis funding dropped in January from the previous month. Banks in many other eurozone countries continue to rely on ECB lending, which is making it more difficult for the central bank to set interest rates. Reuters (2/18) LinkedInFacebookTwitterEmail this Story
  • U.S. stocks see smaller price swings
    The Standard & Poor's 500 index has moved an average of 0.43% per day in 2013, compared with 1.08% over the past five years. The decline in price movement is the steepest for any comparable time since the Great Depression. San Francisco Chronicle/Bloomberg (2/19) LinkedInFacebookTwitterEmail this Story
  • Strengthening euro worries EU companies
    For European companies involved in exports, the euro's recent strength is causing concern. The euro is up 12% against the dollar since July and up 35% to a three-year high against the yen. The Wall Street Journal (2/13) LinkedInFacebookTwitterEmail this Story
We must travel in the direction of our fear."
--John Berryman,
American poet and scholar

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