Debt/Financial Crisis Keeps On Getting Worse

Obama, Congressional Leaders Fail To Break Debt Deadlock -- L.A. Times

Obama continues to push for a $4-trillion deal to reduce deficits, but an impasse over spending and taxes remains. Negotiators will meet again Monday.

President Obama continued to push for a $4-trillion deal to rein in government deficits Sunday, but a White House meeting with congressional leaders failed to break the deadlock over spending and taxes that has stalemated discussions for more than a month.

Negotiators agreed to another meeting Monday but otherwise showed little progress from their 75-minute session. Republicans repeated their position that a deficit-cutting deal cannot include any additional tax revenue, according to congressional officials. Obama scheduled a news conference for 8 a.m. PDT Monday to update the public on the negotiations.

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More News On The Financial/Debt Crisis

White House meeting ends with little progress -- AP
More Debt Talks Set for Monday at White House -- FOX News
Obama, congressional leaders don’t make headway on debt limit -- Washington Post
Boehner: spending curbs, no tax hikes in debt deal -- Reuters
Political leaders plan another day of deficit-reduction talks -- CNN
Obama and Congressional Leaders Meet, More Talks Scheduled for Monday -- ABC News
No deal reached on budget, debt issues -- UPI
Obama calls more talks to seek US debt deal -- AFP

Will euro debt crisis swallow Italy next? EC fears Rome will follow Athens, Dublin and Lisbon -- Daily Mail
Top EU officals meet over Italy debt contagion fears -- The Telegraph
Exclusive: EU Calls Emergency Meeting As Crisis Stalks Italy -- Reuters
Italian Debt Adds to Fears in Euro Zone -- New York Times
US hedge funds bet against Italian bonds -- Financial Times
Eurozone split as it takes fresh stab at Greece -- AFP
EU stance shifts on Greece default -- Financial Times
EU Calls Top Officials to Meet on Greece Aid -- Wall Street Journal
EU faces worse fate than bank crises -- Financial Times
Euro Drops as European Leaders to Meet Amid Contagion Concerns -- SFGate/Bloomberg
ECB Is Heading for Some Hefty Icebergs -- Wall Street Journal
The West is in for a rude awakening after years of abusing 'risk-free' debt -- Liam Halligan, The Telegraph