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Friday, May 10th

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S&P accidentally announces downgrade of French debt

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France () - Standard & Poor's accidentally released a message to some of its subscribers on Thursday saying that it had downgraded French debt from its top AAA rating.

Wall Street Transaction Tax Would Raise $350 Billion

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Washington () - A minuscule tax on financial transactions proposed by congressional Democrats would raise more than $350 billion over the next nine years, according to an analysis by the Joint Tax Committee, a nonpartisan congressional scorekeeping panel.

Italy's Berlusconi faces key vote amid economy fears

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Italy () - Italy's PM Silvio Berlusconi is facing a crucial vote on the budget, amid fears that Italy could be the next victim of the eurozone debt crisis.

Greece opposition chief demands PM quits over debt crisis

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Greece (bbc.co.uk) - Greece's main opposition leader has repeated calls for PM George Papandreou to resign to break the political deadlock over the debt crisis.

G-20 Leaders Urge Europe to Quell Debt Crisis as Greece Government Teeters

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Europe () - inability to defeat its two-year financial crisis as they urged swift resolution for the sake of the global economy.

ECB cuts key rate at 1st Draghi meeting

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Frunkfurt () - The European Central Bank has cut interest rates by a quarter percentage point under new head Mario Draghi as it tries to boost a weakening economy that's reeling from a government debt crisis that threatens to spread from Greece.

Greece’s Euro Membership to be Put to Vote

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greece voteGreece () - splintering, choosing to treat Greece’s December referendum on the terms of a bailout package as an in-or-out vote on the debt-stricken nation’s future in the currency union.

US Federal Reserve maintains rates and debt buying

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USA () - The US Federal Reserve has voted to keep interest rates on hold and maintain its bond buying programmes.

The price of Greek democracy

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Greece () - It is easy to see why the Greek premier has announced a parliamentary confidence vote and plebiscite on the eurozone's latest bailout package.

ECB head says Chinese help for eurozone is 'normal'

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Europe () - The president of the European Central Bank has denied that eurozone countries are going "cap in hand" to China.

EU Seeking Cash Faces Resistance Before G-20

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Europe () - European governments are running into initial resistance as they seek to use this week’s Group of 20 summit to turn early praise for their revamped crisis- fighting strategy into financial support.

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