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"Greece's finance minister has told lawmakers he sees three scenarios to resolve the debt crisis, including one involving an orderly default with a 50pc haircut for bondholders, two Greek newspapers reported on Friday."
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"Obama was publicly saying that nationalization wouldn’t work. Suskind has him privately saying “Sweden not Japan.” So either Obama was lying publicly, Obama was changing his mind, or Suskind got it wrong."
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"Moody's Investors Service on Friday downgraded the ratings of eight Greek banks by two notches each citing a struggling domestic economy and declining deposits among reasons for the move, which was expected by markets."
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"Vincent and his panel of guests debate whether Ireland should abandon the Euro."
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This gets it exactly backwards
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"Republican in-fighting over new spending bill sparks fears of a US government shutdown after the end of next week"
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"The world is on the eve of the next financial crisis, with sovereign debt its epicenter, said Mohamed El-Erian, chief executive officer of Pacific Investment Management Co., which runs the biggest bond fund."
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"Fixing the sovereign debt problem is still necessary, but it may no longer be sufficient. Europe must also move quickly to stabilise the banks at its core in ways that go far beyond what the European Central Bank announced on Wednesday."
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"In the summer of 2007, a team of corporate investigators sifted through mounds of paper pulled from shred bins at Countrywide Financial Corp. mortgage shops in and around Boston.
By intercepting the documents before they were sliced by the shredder, the investigators were able to uncover what they believed was evidence that branch employees had used scissors, tape and Wite-Out to create fake bank statements, inflated property appraisals and other phony paperwork."
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"Greece is being hit by a 24-hour public transport strike in the latest protest against government austerity measures."
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"The Irish economy grew by 1.6% in the second quarter, official figures show."
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"Financial data company Markit said its preliminary survey of purchasing managers in the 17-nation euro zone fell into contraction territory – a reading below 50 – this month, marking the first reading in contraction territory since the euro zone climbed out of recession in the third quarter of 2009, and raising new fears of a double-dip. Below, economists react."
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"Higher speed limits are often safer because what is worse than speed is variable speed, some people driving fast and some driving slow. When the speed limit is set too low you get lots of people who safely break the law and a few law-abiders who make the roads more dangerous."