In the abandoned building that once housed the Athens Stock Exchange, artist Teo is shuffling between the Fool, the Magician and the Devil in a Tarot card reading to divine the fate of the crippled Greek nation.
Italian Prime Minister Enrico Letta reshaped the country’s two-year commitment to austerity by approving a labor-tax cut and relying on 3.5 billion euros ($4.7 billion) of spending reductions to meet 2014 deficit targets.
Italian Prime Minister Mario Monti may reverse a pledge not to run for a second term and become a candidate in elections that may be held as soon as February, said Riccardo Barbieri, chief European economist at Mizuho International Plc in London.
When U.S. President Barack Obama told Chinese Premier Wen Jiabao last week that the yuan’s peg to the dollar is unsustainable, he forgot to add one thing: It also threatens the world’s floating exchange-rate system.
Recession-hit countries including France, Spain and Italy won greater budget freedom as the European Commission tried to stem the euro economy’s longest slump and bring down a 24 percent youth unemployment rate.