Can Germany Save the Eurozone and the World?
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With a bigger economy than the United States, the Eurozone has the resources to avoid a break-up. But does it have the political will? We hear about the latest efforts to hold it together and the prospects for a double-dip recession worldwide. Also, the House passes the Stopgap Spending Bill by unanimous consent, and LA's contribution to contemporary art.
Banner image: The symbol of the European common currency, the Euro stands past the headquarters of the European Central Bank (ECB) in Frankfurt am Main, Germany. Photo by Ralph Orlowski/Getty Images
House Passes Stopgap Spending Bill by Unanimous Consent ()
The House today ended the threat of a government shut-down on Saturday by passing a funding measure today unanimously. It took only a minute. But that doesn't mean that gridlock is over. The government will only be funded through Tuesday. Pete Kasperowicz reports for The Hill, a newspaper that focuses on the Senate and Congress.
- Pete Kasperowicz: The Hill
Is Time Running Out on the Eurozone? ()
The German Parliament today approved expanded powers for the European Union's main bail-out fund, a big victory for Chancellor Angela Merkel. But with Greece in the throes of protest over austerity measures, there's still concern that the can is being kicked down the road. How much longer will frugal Germans be willing to support other countries they regard as undisciplined spenders? Could Greece still default on its debt? Would that trigger an economic "contagion" threatening the global economy with drastic consequences for the United States?
- Peter Spiegel: Financial Times, @SpiegelPeter
- Mujtaba Rahman: Eurasia Group
- Josef Joffe: Die Zeit
- Ezra Klein: Washington Post, @ezraklein
'Pacific Standard Time' Opens in Los Angeles ()
Chicano art, black art, light-and-space art and feminist art are just some of the features of a massive look back at art in Los Angeles from 1945 to 1980. It was a freewheeling time of grassroots experimentation with influences still felt in the art world today. Opening this weekend, Pacific Standard Time is comprised of 60 official exhibitions at LA's major museums and galleries, along with performance art, public art and dance. The Getty is backing it with $10 million. Tyler Green is an art critic and editor of "Modern Art Notes," a visual art blog.
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