Weekly Wrap: Greece and Obama's jobs plan

The Wall Street sign near the front of the New York Stock Exchange August 5, 2011.

Bob Moon talks to John Carney from CNBC and Leigh Gallagher from Fortune Magazine.

On whether the eurozone is finally headed to a recovery:

Leigh Gallagher: Greece has definitely taken a turn for the worse. There's a school of thought out there that no amount of money is going to be enough to avoid a default. The most important thing is just preventing contagion. Europe is on the verge of its second recession, really. The degree to which the situation in Greece can be detained, a lot is weighing on that.

Why the markets have been up and down this week:

John Carney: It's a lot of Europe. Seems like everyday we get multiple rumors and multiple denials of rumors about what's going to happen in Europe. There was also some signs of economic life in the U.S., some things that might not have been as bad as it seems, so I think that also gave us a bit of a boost this week.

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