Marketplace Morning Report for Friday, December 9, 2011
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European leaders meet in Brussels for yet another summit to determine the fate of the EU, and Britain has announced it won't sign off on any fiscal union. Another summit wraps up in South Africa today, as the UN concludes its climate talks. Richard Cordray was blocked by Senate Republicans from an appointment as head of the Consumer Financial Protection Bureau. And wheat prices are falling, but that doesn't mean your cereal will be any less expensive.
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Posted In: Europe debt crisis, United Nations
European leaders meet in Brussels for yet another summit to determine the fate of the EU, and Britain has announced it won't sign off on any fiscal union. Another summit wraps up in South Africa today, as the UN concludes its climate talks. Richard Cordray was blocked by Senate Republicans from an appointment as head of the Consumer Financial Protection Bureau.
Posted In: stock market, Europe debt crisis
The EU plan still has to be ratified, and if the deal collapses, it could hit everything from the stock markets to the job outlook for Americans.
Posted In: summit, Europe debt crisis, European Union
Some economists say today's summit will be remembered as a successful moment -- when eurozone countries met and got their act together. Katharina Gnath is an associate fellow at the German Council on Foreign Relations and has studied G8 and G20 summits.
Posted In: Russia, protests
The biggest anti-Kremlin demonstration in recent Russian history is planned for tomorrow. It follows smaller protests all this week, after Russian elections delivered a victory to Russian Prime Minister Vladimir Putin's ruling political party
Posted In: Washington D.C., federal budget
As news from Europe points to greater fiscal scrutiny for countries in the EU, questions are raised as to whether a balanced budget amendment here at home could finally pass.
Posted In: Richard Cordray, CFPB, Consumer Financial Protection Bureau
U.S. Senate Republicans blocked former Ohio attorney general Richard Cordray's appointment as director of the CFPB. The new bureau is a centerpiece in the Dodd-Frank financial reform law.
Posted In: Europe debt crisis, david cameron, fiscal union, EU
An agreement among almost all of the European Union members was made in Brussels today, but Britain has decided to stay out of the plan, and insists that official EU institutions do as well.
Posted In: European Central Bank, Bank of England, Europe debt crisis
Markets breathed a sigh of relief last week as central banks around the world agreed to joint action to fight the European debt crisis. But according to someone on the front lines in 2008, this could mean things are worse than we know.
Posted In: Europe debt crisis, fiscal union
Britain and three other countries are out of the picture, but those remaining believe the new treaty will mean much more balanced budgets on the continent in the future.