Due to playing in the mud (don’t ask, trust me it’s messy), the Evening Edition will brought to you by c’est moi.
French banks agree to Greek debt rollover
ATHENS/PARIS (Reuters) – France offered a radical solution Monday for banks to roll over some Greek debt for 30 years as the Greek government fought for political support of its five-year austerity plan to avert bankruptcy.
With depositors fleeing Greek banks in growing numbers and financial markets watching anxiously, President Nicolas Sarkozy told a news conference in Paris that French banks had reached a draft agreement with the authorities on a voluntary rollover of maturing bonds.
Consumer spending breaks 10-month rising streak
WASHINGTON (Reuters) – U.S. consumer spending failed to rise in May, breaking 10 straight months of gains, as households struggled with rising prices and automakers could not deliver some popular models due to fallout from Japan’s earthquake.
When adjusted for inflation, spending slipped 0.1 percent, the Commerce Department said on Monday. It was the second consecutive monthly drop on that basis.
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