The whole world is watching Greece and while everyone is worried about the debt contagion spreading, the United States is in the middle of its own fiscal mess. "Kicking the can" has been used so many times that if the U.S. government could cash in every time it was used, the country would be able to pay off its deficit and have a surplus.
Tear gas rises from the square outside of the Greek parliament building.
Stocks extended their gains in thin, choppy trading Wednesday, led by financials, after the Greek parliament passed the austerity package and following a positive pending home sales report.
Will U.S. growth continue on a slow path over the next decade? Insight with John Lipsky, International Monetary Fund acting managing director.
If you think you’ve got it tough living in America, just be glad you’re not going to be in Greece as that nation begins to confront the true reality of austerity.
Press reports that the European Banking Authority (EBA) could fail up to 15 European banks as a show of the strength and resilience of the tests are completely unfounded, the EBA’s chairman said on Wednesday.
The Greek Parliament has voted to back a package of deep spending cuts that should go some way in clearing a path for a second bailout for the country.
The UK government needs to address the concerns that the parliamentary committee which oversees the banking industry still has over its proposed regulatory reforms, a senior Conservative politician has told CNBC.com
Investment strategies and the stocks to keep an eye on now, with Frank Germack, Rehmann and Harvey Neiman,Neiman Large Cap Value Fund.
Futures pulled back from their earlier highs Wednesday after the Greek parliament passed the austerity package that will pull the country from the brink of default.
CNBC's Steve Liesman reports the Greek Parliament has passed an austerity package.
Money market funds have long been a popular haven for conservative investors, but they could become one way that the tremors of the financial crisis in Greece touch the pocketbooks of Americans — about 50 million of them the New York Times reports.
"Picasso on drugs could not paint a picture like this", says Art Cashin, UBS Financial Services, referring to Greek rioters on the streets of Athens.
See what's happening, who's talking and what will be making headlines on Wednesday's Squawk on the Street.
Share your opinion in Wednesday's poll.
European politicians need to "stop talking like accountants and become leaders," Harris Ikonomopoulos, president of the British Hellenic Chamber of Commerce, told CNBC Wednesday.
Larry Fink, one of the world's most high-profile investors, would like to put all his money in equities at the moment.
Enjoy the coming slump. That is not what the Bank for International Settlements says to the US and other over-indebted economies. But it is what its latest annual report implies, writes FT columnist Martin Wolf.
In an interview with CNBC, Greece's minister for growth, competitiveness and shipping, Michalis Chrisochoides, was utterly confident that his PASOK party will be able to push through the unpopular medium-term austerity package.
As Greece stands on the cusp of another bailout, one analyst says the fix is likely to be only temporary and he expects other Euro-zone countries to also require new rounds of funding. He believes the region's economic uncertainty will further weaken the Euro and boost gold prices.