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Thursday, May 09th

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Leaders of Euro Zone Agree on Closer Union

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WSJ's Stephen Fidler reports Eurozone leaders are proposing stiff rules and penalties at their summit in Brussels to prevent countries from becoming economically unstable.

Euro crisis hangs over latest EU summit

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The eurozone crisis will dominate an EU summit on Monday, with an emphasis on growth and "smart" budget discipline.

EU Official Sees Bailout-Fund Boost

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bailout() - A senior European policy maker said euro-zone governments may have to increase their contributions to Greece's debt deal, and said he was hopeful agreements could be struck soon to increase euro-zone bailout funds and International Monetary Fund resources.

Obama Speech to Embrace Manufacturing

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USA () - President Barack Obama tonight will lay out what he calls a “blueprint” for revitalizing the economy, emphasizing a rebirth for U.S. manufacturing, bolstering domestic energy production and training workers.

Progress made in Greek debt talks

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Greece () - Talks on restructuring Greek debt continued Saturday, with negotiators reporting some progress made toward reaching a deal with the nation's private creditors.

Italy’s Monti urges better euro-zone governance

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London () - Italian Prime Minister Mario Monti called on Wednesday for more effective governance of the European Union and the euro zone to tackle the long-running sovereign debt crisis.

German government slashes 2012 growth forecast but sees no recession

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Economic growth in Germany will slow down this year, the government has said, as a result of the eurozone debt crisis and weaker emerging markets. But fears of a shrinking economy are unfounded.

Europe's Leaders May Need History Lesson

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Europe's Leaders

() - Given their record to date, is there any reason for faith that Europe's leaders will succeed in 2012 in doing what they signally failed to do in 2011 and stem the crisis that now threatens the existence of the euro zone?

Hedge Funds Sit Out Rally With Bets on Stock Gains Near 2009 Low

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New York () - Rallying stocks have done little to entice professional money managers back to U.S. equities.

Italy is the euro-zone member that poses the greatest threat to the future of the currency bloc

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() - Fitch Ratings Tuesday said Italy is the euro-zone member that poses the greatest threat to the future of the currency bloc, as the lack of a region-wide plan to prevent the sovereign-debt crisis from spreading has been coupled with the country's large debt burden and high borrowing costs.

U.S. unemployment drops to 2009 level

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USA () - American employers stepped up their hiring in December, bringing the unemployment rate down again.

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