The Greek government has imposed new austerity measures, including raising sales taxes and cutting pay for civil servants, to help fix its budgetary crisis. For more on the impact of this major financial issue in the eurozone, Daljit Dhaliwal speaks with Peter Coy, the economics editor for Bloomberg BusinessWeek. And our German partner Deutsche Welle reports.
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The International Monetary Fund said on Tuesday that the financial crisis "is likely to be deep and long lasting." Peter Coy of BusinessWeek magazine discusses Britain's plans to help struggling homeowners and Germany's new approach to getting rid of toxic assets.
Peter Coy of BusinessWeek magazine discusses how major world markets responded to the Obama administration's bank rescue plan and foreign banks being bailed out by U.S. taxpayers.