BRUSSELS ? The eurozone’s 17 finance ministers have agreed that banks must accept substantially bigger losses on their Greek bonds, and a new report suggests that writedowns of up to 60 percent may be necessary. The report from Greece’s international debt inspectors, which was discussed at the finance ministers’ meeting Friday, says in order to [...]
Read the rest of this entry »Greenspan: Tax overhaul should be used to cut debt (AP)
WASHINGTON ? Former Federal Reserve Chairman Alan Greenspan told Congress on Tuesday that new revenue raised from overhauling the tax code and eliminating loopholes should be used to reduce federal deficits, not to lower tax rates. Greenspan told lawmakers that automatically paid benefit programs ? such as Medicare and Medicaid ? are growing faster than [...]
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