IMF

The United States has officially declared its endorsement of France’s finance minister Christine Lagarde to be the next chief of the International Monetary Fund (IMF), virtually guaranteeing she will becomes its boss when its board meets next week.

French Finance Minister Christine Lagarde is expected to be chosen as early as Tuesday to be the new leader of the International Monetary Fund, The Associated Press reported.

The last time ‘inflatable shark’ was in news was when someone tried to present one to former IMF chief Dominique Strauss-Kahn at the Manhattan mansion where he is under house arrest. The security guards turned away the man who brought a toothy blue fish inflated to the size of a small person and attached with helium balloons.

Fitch Ratings agency has warned any voluntary rollover by commercial lenders of Greece’s debt would be regarded as a “default,” putting even more pressure on Euro Zone ministers and Greek Prime Minister George Papandreou, who is facing a crucial vote of confidence.

Greece is selling state-owned businesses to raise cash as part of IMF-required austerity measures.

The euro currency in its current form will doomed and the euro zone will collapse, warned former UK foreign secretary and current Labour MP Jack Straw.

Greece should be allowed to default on its debts, go bankrupt and exit the euro, said Boris Johnson, the Mayor of London, amidst growing weariness in Europe over Greece’s continuing financial woes.

If one thought to watch a movie online on Father's Day or just to spend Sunday time on Netflix, they were in for a surprise.

Faced with a growing threat from hacking and other cyber crimes, the U.S. Department of Defense (DOD) and Department of Homeland Security (DHS) have joined hands with leading ISPs and private defense contractors to launch a pilot program called DIB Cyber Pilot that will help strengthen their network defenses.

What do the IMF, Citibank, Sony and now Sega all have in common? In a span of just a few weeks, all of these companies, and more, have joined the ranks of those firms fallen victim to cyber crime.

Jean-Claude Juncker, head of eurozone finance ministers, on Saturday cautioned that the debt crisis of Greece and other countries in the region could hit Italy and Belgium.

The International Monetary Fund (IMF) has lowered its growth forecasts for the US for the next two years from 2.7 percent to 2.5 percent in 2011 and from 2.9 percent to 2.7 percent in 2012, besides highlighting renewed weakness in the housing market as a risk.

As the international community prepares to deploy aid for Egypt and Tunisia's ailing economies, it faces the daunting question of how to do so without perpetuating the endemic corruption and government monopolization that helped to spark the Arab Spring.

Dominique Strauss-Kahn initially claimed diplomatic immunity when he was first arrested for sexual assault in New York, according to official documents and transcripts released by prosecutors in the case.

A Polish journalist was arrested for slandering the Belorussian president.

Around 1000 Belarusians took to the streets in the capital city of Minsk.

Apparently, classical Greece and its traditions of philosophy and democracy, are alive and well with Athens' citizens, although the state is still searching for Plato's philosopher-king, one blogger writes of today's protests outside the Greek Parliament.

George Papandreou, the embattled Prime Minister of Greece, has offered to resign to pave the way for a national unity government, according to various sources, as the Athens parliament prepares to enact more unpopular austerity measures.

The current unrest in Greece stems for decades of over-spending. In Athens, protesters take to the streets to fight the latest austerity proposal.

Demonstrations against a new austerity program were disrupted by clashes between police and protestors

The International Monetary Fund (IMF) has short-listed two candidates, Christine Lagarde and Agustin Carstens, for its next Managing Director.