Wednesday, May 05, 2010

Fail, don't bail, Greece: German Parliamentary leader

U.S. Stocks Drop on Europe Debt Concern, China Factory Slowdown
Volker Kauder, the parliamentary head of Chancellor Angela Merkel’s Christian Democratic Union, called for the possible “orderly insolvency” of European states as “consequences” follow from the Greek crisis. The European Commission must be able to better examine the finances of member states to avoid the kind of ballooning budget deficit witnessed in Greece, Kauder told reporters in Berlin today.

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