Greece

A review of the week's biggest business news. This week: News of a debt deal for Greece and what U.S. bank earnings says about the industry in the future.

In Greece, where negotiations are underway with international banks in an effort to reduce the country's debt. Greece has to make a deal in order to get another round of bailout cash and prevent a messy default.

Greece has been furiously working to save maybe $126 billion on what it owes investors on its government bonds.

A deal might be drawing near to reducing Greece's debt, and hopefully avoid further crisis in the eurozone.

Right after Wall Street closed on Friday, the ratings agency Standard and Poor's downgraded the credit ratings of nine European countries. France and Austria lost their prized AAA credit ratings.

France and Austria get credit ratings downgrades, and Greece weighs its dwindling options.

In an era of large government debt and economic crisis, a recent study shows that there are more Porsche Cayennes in Greece than there are people filing taxes on incomes over 50,000 euro.

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