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  • Despite the euro zone's recovery still looking very fragile, the central bank's key playmakers seem determined to talk about pushing policy back onto a more "normal" footing.

  • Greece

    As the government of Prime Minster George Papandreou struggles to get the nation’s financial house in order — reducing the size of its bloated civil service, chasing after tax evaders and overhauling its pension system — it has also begun to tackle a much less talked about problem: the cozy system of “closed professions” that has existed here for decades, costing the economy billions of dollars a year.

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    Riot police clashed with protesting workers barricading the ancient Acropolis on Thursday, using tear gas to clear the demonstrators from the entrance to Greece's most famous ancient site.

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    A combination of better data than expected, China’s pledge to buy the country’s bonds and hopes that international bail-out loans will be extended have boosted investor sentiment. The Financial Times reports.

  • Dollar and Euro

    This year’s rescue plans for Greece and the euro zone were driven partly by rising US anxiety about the risks to global financial stability stemming from Europe’s slowness to take action. The FT reports.

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    Investors in euro zone bond markets stand accused of letting “animal spirits” affect their judgment on the risk of a European debt default. The FT reports.

  • People demonstrate to say ''no to austerity'', in Brussels. Police threw a ring of steel around EU headquarters as tens of thousands in a sea of banners from across Europe took to the streets in a worker backlash against painful spending cuts. The protest, the biggest such march since 2001 when 80,000 people invaded the Belgian capital, was timed to coincide with an EU plan to fine governments running up deficits.

    Despite mounting public protests across the Continent, an austerity drive unparalleled in modern, united Europe is building, reports the New York Times.

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    With Greece hitting its marks on the financial bailout earlier this year, it is now taking steps to streamline business and investment processes to promote growth, the country’s finance minister, George Papaconstantinou, told CNBC Thursday.

  • Timothy Geithner

    Tim Geithner Still Doesn’t Understand Capital Requirements Last week Alan Blinder pointed out that despite all the hoopla about higher capital requirements coming out of the Basel negotiations, when the final requirements kick in in 2018, banks will only be required to have a Tier 1 leverage ratio of 33:1.

  • Reichstag Parliment building, Berlin, Germany

    Europe faces an important challenge in creating greater awareness of the importance of a stable currency, but to achieve that goal, its citizens will need to grow more attached to the euro, Otmar Issing, former European Central Bank chief economist, told CNBC.

  • Greece

    The parliament pushed through legislation that in effect grants a tax amnesty to millions of citizens, in a move at odds with organizations overseeing the country’s bailout, the FT reports.

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    Every week without fail Lucy Elkin, a comfortably middle-class mother of two small children, receives a £33.20 child benefit payment, or about $52, from the debt-plagued British government, reports the New York Times.

  • If a global double dip happens, the downside on corporate junk is much more daunting than it is for sovereign debt.

  • Stocks regained some ground in the last few minutes of a volatile session, but closed lower as traders continued to consider the Federal Reserve's plans to lift the U.S. economy. DuPont and American Express fell, while HP  rose.

  • Stocks sank in the last hour of the session as traders continued to consider the Federal Reserve's plans to lift the U.S. economy. DuPont and American Express fell, while HP  rose.

  • Stocks were mixed Wednesday in the absence of major economic or earnings news, as investors continued to weigh the Federal Reserve's next moves.

  • The sovereign debt crisis, wrecking havoc on some periphery euro zone member states, could turn out to be a positive for many core European counties, Karen Olney, chief European equity strategist at UBS, told CNBC Wednesday.

  • U.S. stock index futures were lower ahead of the open Wednesday as European debt concerns rumbled on and the prospect of further quantitative easing from the Federal Reserve put pressure on the dollar.

  • The Parthenon in Greece

    This time of September is always one of the busiest but most exciting times of the year as fall in New York kicks off with a decidedly international flavor. Last week, New York was home to two important events: the opening of debate at the U.N. General Assembly and the annual meeting of the Clinton Global Initiative.

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    Many of the contributors to the crisis, including Basel II, are being expanded instead of scrapped.  Market discipline is gone;  companies can not be allowed to fail and  creditors can't take losses.