A big meeting today in Europe that was supposed to continue talks on the Greek debt crisis has been delayed until next week. Now, leaders will join in a conference call to discuss the problem.
A meeting on the Greek bailout has been delayed. Eurozone leaders want more assurances from Greek leaders that they'll make the spending cuts they've promised. The news has triggered more frustration in Athens.
Greece today is trying to find another few hundred million dollars worth of budget cuts. Meanwhile, the rating agency Moody's has downgraded the credit ratings of six European countries, which is likely to make matters worse.
Some early concerns about tight European credit markets making it expensive for European banks to raise capital dragged the markets down in the early hours. That was countered a bit by some more trickles of good news about the U.S. economy.