Bailout | featured news

The German parliament approved a second, euro130 billion ($173 billion) loan package for Greece on Monday after Chancellor Angela Merkel warned lawmakers that it would be irresponsible to abandon the country to bankruptcy.

Auto sales are growing so fast that Detroit can barely keep up. Three years after the U.S. auto industry nearly collapsed, sales of cars and trucks are surging.

Eurozone finance ministers sealed a deal Tuesday morning for a second bailout for Greece, including 130 billion euros or $173 billion in new financing.

Whether voters see a principled stand or ruthless capitalism in Mitt Romney’s 2008 opposition to the auto industry rescue will affect how he fares in Michigan’s primary and likely beyond.

Greece's cabinet agreed on Saturday to launch a debt swap for private creditors on March 8 with the aim of completing it by March 11, a government official said.

Shock was a common sentiment in the heart of Athens this week. Athinas Street, the colorful shopping mile in the Greek capital, is known for its lively fish and meat markets, where spice salesmen mix with traditional shoemakers and sidewalks are packed with commodities for sale.

U.S. stocks closed in on the psychologically important mark of 13,000 for the Dow Jones industrial average as optimism about the Greek bailout and the European financial situation sent stocks up in early trading.

The letters aim to satisfy one of the key demands set by Greece's international lenders, but other issues remained unresolved.

Greece's Cabinet approved austerity measures demanded in return for a new eurozone bailout of the debt-stricken country Saturday, a day ahead of a crucial vote in Parliament.

As is increasingly the case with the European financial crisis, the story changed between the time the evening papers went to bed Thursday night and the traders woke up Friday morning.