ELECTIONS

'Greece' Is The Word In The Risk-On/Risk-Off Trade

A drachma coin is seen on display in this photo illustration taken in Athens May 9, 2012.
Financial-market participants around the world have reasons for both optimism and pessimism at the dawn of this trading week. But nobody appears to care, really. Unless the reason centers on Greece -- and, by implication, the future of the euro zone.

California Budget Gap Widens To $16B From $9B [TRANSCRIPT, VIDEO]

California Governor Jerry Brown introduces his state budget proposal at the State Capitol in Sacramento January 5, 2012.
The estimate of California's budget deficit in its next fiscal year has ballooned to $16 billion from $9 billion, state Gov. Jerry Brown divulged in a YouTube video posted this weekend. Brown said the widening gap was caused by changing conditions on both the revenue and the cost sides of the ledger.
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Voters In Germany's Biggest State Crush Merkel's CDU

Chancellor Angela Merkel's conservatives suffered a crushing defeat Sunday in Germany's most populous state, which could embolden the left opposition to step up its criticism of her European austerity policies.
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A drachma coin is seen on display in this photo illustration taken in Athens May 9, 2012.

Could Germany Be Sounding A Softer Note On Greece?

Euro-zone paymaster Germany may be willing to consider additional measures to promote growth in Greece, but the Hellenic Republic must still carry out its previously agreed reforms, German Finance Minister Wolfgang Schaeuble said in an interview with Welt am Sonntag this weekend.
Egypt

Egyptian Court Suspends Presidential Elections

The administrative court suspended the election after it emerged the date had been wrongly set by an independent electoral commission, and not by the military council who rule the country.
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Indian Shares Close Down, Gold Hits Four Month Low, Eurozone Crisis Weighs

Bombay Stock Exchange (BSE) sensex closed at a four month low by shedding nearly 67 points on Wednesday as weak global trends triggered heavy fund outflows.The BSE bench mark 30 share index lost 66.60 points to reach 16,479.59, dragged down by sharp declines in Reliance industry and banking stocks. Reliance Industries dropped for the sixth day by losing 1.91 per cent to Rs 695.10 after it cut the estimates for actual natural gas reserves available in its Indian blocks.
Europe

Worsening Greek Crisis Clouds Euro?s Future

A Greek sovereign default has always been a talismanic scare for the euro stakeholders. It would put the common currency under the greatest pressure since its creation, and shake the foundations of the currency bloc.

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