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Economy - International

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Joe Weisenthal

A quick look at 10-year Italian yields reveals... they've stopped improving. In fact, rather than moving towards 5%, they're going back to 6%.

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New York Times

As debt-plagued Greece struggles to meet Europe’s strict terms for receiving its next round of bailout money, the lesson of Portugal might bear watching. Unlike Greece, Portugal is a debtor nation that has done everything that the European Union and

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Reuters

The European Union is likely to take action against Spain's newly installed government by May for delaying austerity measures. European Commission believes the new government overstated the deficit figures for 2011 so the current year's data would lo

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hosted.ap.org

ATHENS -- Greek lawmakers on Monday approved harsh new austerity measures demanded by bailout creditors to save the debt-crippled nation from bankruptcy, after rioters in central Athens torched buildings, looted shops and clashed with riot police.

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www.reuters.com

Rating agency Standard & Poor's downgraded 34 Italian banks on Friday, including heavyweights UniCredit (CRDI.MI) and Intesa Sanpaolo (ISP.MI), citing a reduced ability to roll over their wholesale debt and expected weak profitability.

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www.theeconomiccollapseblog.com

If the global economy is not heading for a recession, then why is global shipping slowing down so dramatically? Many economists believe that measures of global shipping such as the Baltic Dry Index are leading economic indicators.

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www.cnbc.com

Greek political leaders failed early on Thursday to sign off on a tough reform and austerity program, the price of a new international bailout for the nation, but Prime Minister Lucas Papademos said they would try to strike a deal within hours.

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www.zerohedge.com

At this point everyone is so habituated to worthless updates from Greece that we are shocked Bloomberg even noticed. Either way, here is latest Greek headline tape bomb, via BBG, which looks at a leaked Troika draft report obtained by Bloomberg.