Europe Teeters on the Edge
This week's a big one for the future of Europe, as Germany debates supporting the fiscal pact agreed to in Brussels on March 2 and investors sign onto a Greek bond swap that could write off half of the country's €177 billion debt. The success of the fiscal pact—which demands that the 25 signatory countries write balanced budget "golden rules" into their constitutions—could hinge on whether the opposition party's demands for more stimulus measures and less austerity, are met in Germany. "We need an initiative for more growth and we should get the money from financial markets," Sigmar Gabriel, chairman of the opposition Social Democrats party, said. Chancellor Angela Merkel's cabinet plans to meet and discuss the pact tomorrow.
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- The Lone Tweeter of Deutsche Bank Bloomberg Businessweek
Chart of the Day
2010 was a good year to be a one-percenter—this wealthiest cohort of Americans made off with 93 percent of all income gains.
Reason to Get Out of Bed in the Morning
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