entails. dominique strauss-kahn is being questioned by french police tao now. we ll have head on allegation that is the former head of the imf participated in a prostitution ring. an exz collusive interview with an inside trade who are says dodge gee deals are note a victimless crime. now after all the riots and resignations, the mistargets and miscommunications, greece has its bailout. after 13 hours of talks, the word came greece had met numerous conditions and would receive $173 billion. that should help it default next month. it surely does not mark an end to the country s financial troubles. tt deal greece to cut the debt to 125% of grngsdp down to from a staggering level of 160%. if all goes according to plan greece can miss the debt repaymentless without the need for anymore bailouts. that s officially. reuters news agency is reporting that officials privately feel more bailouts may never be needed. otherwise it may go straight back up to 160% of gdp. under the r
as search and rescue attempts continue, the focus moves 0en to who is to blame for the sinking of a giant ocean liner off the italian coast. and we ll tell you which production houses is big at the golden globes and what these awards tell us about the upcoming oscar ceremonies. first up, though, if the new year promised a new europe, well, some people could be disappointed. standard & poors last week had other ideas completely. to nobody s great surprise, this particular influential company decided to downgrade the credit scores of nine countries across the euro zone on friday. these particular downgrades apply to a large swath of central and southern europe. it is this country in the center here, france, that is commanding all the headlines today. this after france lost its treasured aaa rating. that in turn, some economists say could undermine the a aa rating of the total esfs. one country as well that s hitting the headlines, one country that will ill afford any more b
watching for. right. i suspect that the do-over that the world got was a function of the fact that we have a printing press and we used it. that s the bottom line. the federal reserve printed all the debt and that and the programs made all the problems go away for a while. i think about it like a do-over, right? europe s stuck right now, because the ecb doesn t want to print money. but they and they kind of do it in the back door. so i think what has to happen is, bernanke is probably going to ease again or do more qe when they meet. and i think some time soon using the printing press to make the problem go away or quote/unquote solve it, is not going to work. what would the evidence of not working how would krystal and i know that they tried it and it didn t work. they would start focusing on the inflation that exists, and the part of your paycheck that isn t a car payment or a house payment. people talk about deflation, but