The spotlight of the eurozone crisis moves to Spain, but no one has forgotten Greece. While the official unemployment rate there is above 21 percent, many more are working without pay.
Today three big banks in Portugal were forced to draw on $8.25 billion worth of European Union bailout money to weather the current financial storm. Portugal has been slogging through very tight budgets in order to be eligible for money like this.
Stocks are down all over the world this morning as investors have their first chance to react to the Labor Department's May jobs report that came out on Friday. But the negative market sentiment isn't just about jobs.
Yesterday discount travel website Kayak announced it’s putting off going public. In the UK, luxury jeweler Graff Diamonds has made a similar move, and today Formula One announced it’s shelving its IPO.
A bank run occurs when customers run down to the bank and demand their money back. So, why can't the bank just return the cash? Sr. Producer Paddy Hirsch explains using a human heart analogy.
Spain's Deputy Prime Minister, Soraya Saenz, will head to Washington to discuss ways to resolve the Spanish banking crisis with Treasury Secretary Tim Geithner.
