July 7 (Bloomberg) — European bonds fell before debt sales in the Netherlands and Austria and a report likely to show German factory orders rose in May, adding to signs the recession may be abating.
U.S. debt shrinking at glacial pace (USA Today)
Eighteen months into a deep recession triggered by a credit bubble, consumers have made little progress shrinking a mountain of debt. Until they do, the economy will struggle to grow likely for years.
Debt Burden Quickens Power Shift as G-8 Loses Clout (Update2) (Bloomberg)
July 7 (Bloomberg) — The world’s most affluent nations will take decades to work off the biggest buildup in debt since World War II. The political costs may be permanent, laid bare at this week’s Group of Eight summit of leading industrial powers.
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