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A free floating commentary on culture, politics, economics, and religion based on a passionate commitment to the truth and a desire graciously to refute that which is contrary to it….
"He must hold firm to the sure word as taught, so that he may be able to give instruction in sound doctrine and also to confute those who contradict it."
--Titus 1:9, Revised Standard Version
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European finance ministers ended a two-day meeting here Saturday without making substantial progress toward solving the region’s debt crisis, or any pledge to recapitalize Europe’s banks.
The meetings were highlighted by the appearance by Timothy F. Geithner, the United States treasury secretary, whose advice, and warnings, drew a tepid reaction from the euro zone’s finance ministers. And Mr. Geithner’s rejection Friday of a European idea for a global tax on financial transactions prompted a debate about whether Europe should go ahead on its own.
Meanwhile, with an October deadline looming for international lenders to agree to the release of around 8 billion euros, or $11 billion, of aid to Greece, without which it could default on its debt, George Papandreou, the Greek prime minister, canceled a trip to the United States.
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Filed under: * Economics, Politics Economy Credit Markets Currency Markets Euro European Central Bank The Banking System/Sector The Credit Freeze Crisis of Fall 2008/The Recession of 2007-- * International News & Commentary Europe --European Sovereign Debt Crisis of 2010 Greece
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