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The International Monetary Fund is likely to offer minimal funds for a second Greek aid package that is expected to be approved by euro-zone finance ministers on Monday, leaving the bloc's governments to provide a much bigger share of the loans than they did in the euro zone's three earlier bailouts.

The Economic Report of the President released on Friday repeats the talking points Democrats will use in the fall election to defend Barack Obama’s record, but it also functions as a sort of blueprint for a would-be second term.

Eurozone finance ministers have demanded much greater oversight of Greece's economy in return for a 130bn-euro (£110bn; $170bn) bailout package.

President Barack Obama on Monday sent Congress a $3.8 trillion budget request for fiscal 2013 that’s expected to be a cornerstone of his re-election campaign.

Moody's cut the credit ratings of six European countries on Monday amid continued anxiety over the continent's debt crisis and its sluggish economy.

Normally, if you want dolefulness, turn to Deutschland. But now the Germans seem brimful of confidence. This somewhat surreal state of affairs explains many things. Why they are not falling apart with anxiety over the slow-motion train wreck that is Greece.

Greek political leaders agreed to a package of austerity reforms Thursday, marking the first step toward securing much-needed bailout funds. Greek Prime Minister Lucas Papademos said in a statement that there was "general agreement" on measures aimed at cutting public spending.

Greece's finance minister headed for Brussels early Thursday to try to clinch a deal with European partners on a new aid deal, after all-night talks in Athens stumbled over demands by international creditors for deep cuts in pension benefits.

Europe’s current cold snap held on in central and eastern parts of the continent on Monday, taking a high death toll. Police in Poland said Monday the current wave of sub-zero temperatures has claimed 62 lives. Homeless shelters in the country have dropped their ban on intoxicated people as the mercury falls below -20 degrees Celsius during the night.

"A shark has to constantly move forward or it dies. And I think what we got on our hands is a dead shark." Woody Allen's description of his failing relationship with Annie Hall is as apt when applied to the euro zone. Tensions within the zone are mounting as we enter a week in which Italy, Belgium, Spain and France plan to tap the markets for some €17 billion ($22 billion) in new loans and, says Goldman Sachs, the European economy slides into recession.