European finance ministers are meeting in Denmark today. They're reportedly adding $670 billion to their bailout fund. Ministers have been trying to figure out how big of a financial bazooka they need to defend Europe from speculators.
The auto industry bailout continues to be a point of controversy among the general population of America, but the view of carmakers has made a bit of a comeback in the last few years.
General Motors' turnaround has been pretty dramatic. It's only been a couple years since the government bailed the company out. That bailout has turned into a major issue in the upcoming Republican primary in Michigan.
As news arrives that Greece will receive a fresh $170 billion from the rest of Europe, we are broadcasting from Michigan this week leading up to that state's primary. On the minds of citizens of Michigan? The big auto bailout of a few years back.
Just ahead of another meeting of European finance ministers in Brussels, Greece announces that they have agreed to the austerity cuts that would allow them to receive a much-needed $173 billion bailout.
The news from Europe this morning starts with Italy, which had to pay a euro-era record rate to borrow money from the bond market. Meanwhile, Hungary's bonds were downgraded to junk status.
