G7 finance chiefs reportedly held a Eurozone crisis conference call today as Spain's treasury minister has up a flare: Help Us! The country is shut out of the bond market. The treasury minister and reportedly some of Spain's bankers want the EU to help recapitalize struggling banks. This is easy for them to say. A bank rescue for them comes on the backs of taxpayers. It comes on the backs of citizens. We'll ask if anything could turn this dynamic around.
And, on a lighter night, no pun intended, it seems that cash strapped cities have discovered a new and creative way to fill the budget shortfall: putting advertisements on fire trucks. We are not kidding. Demetri and Lauren will explain on our episode of Loose Change. Source
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