credibility

It has been another dramatic weekend in the euro zone. On Friday, Germany’s representative on the European Central Bank's governing council, Juergen Stark, resigned in protest at the bank's decision to buy Italian and Spanish bonds. He will be replaced by German deputy finance minister Joerg...

In Greece, "further economic weakness expected this year, partly driven by the global slowdown, can only make things worse also on the fiscal front," according to economists at Credit Suisse in London. more...

The SEC is reviewing whether the ratings company complied with its own procedures and polices when it downgraded U.S. credit. Discussing whether the U.S. deserves a triple A rating, with Harvey Pitt, Kalorama Partners CEO, and Byron Wein, Blackstone Advisory Partners vice chairman. more...