The country’s new finance minister, appearing in a joint press conference with the head representative of the euro zone finance ministers, accused Greece’s creditors of crafting a “self-perpetuating crisis of deflation and unsustainable debt,” and repeated his call to write down Greece’s debt and let its bailout program to expire this month.
2 hours ago
Mitt Romney definitely will not run for president in 2016.
Prices slipped 0.6% year over year in January, pushing the bloc further into deflation. The European Central Bank detailed an aggressive program of government bond-buying to fight this problem earlier this month; it plans on buying €60 billion euros ($69 billion) of assets per month through Sep. 2016 or until inflation returns closer to the bank’s 2% target.
5 hours ago
Dozens have been killed in a mosque bombing in Pakistan.
No one has claimed responsibility for the attack on the Shia mosque in the southern city of Shikarpur, but police suspect it could have been a suicide bomber from a Sunni militant group. The death toll has been steadily increasing, with 49 being the latest figure.
7 hours ago
Russia’s central bank reversed course.
It cut its benchmark interest rate to 15%, from 17%, partly reversing a big and unexpected hike intended to defend the ruble last month. Bank officials said that the cut is aimed at “averting the sizeable decline in economic activity.” GDP is expected to fall by more than 3% in the first half of this year.
2 mins ago
Chart of the Moment
Chilled-out rich teens are a big part of the drop in the American labor force.
Scientists in March of last year proclaimed that they discovered gravitational waves that were likely formed moments after the big bang. Those same scientists are now saying they made a mistake, and that what their instruments were detecting was in fact dust floating around our own galaxy.