Stock market crashes

German lawmakers have voted to back the second EU/IMF bailout for Greece. Until now, most German politicians have been saying Greece must stay in the eurozone. However, some might now be changing their tune.

Louise Story, Wall Street and finance reporter for The New York Times, talks about why markets seem more volatile than ever, and her new in-depth piece in today’s paper.

Some global financial officials are endorsing a central European financial authority, with powers to tax, issue bonds, and approve budgets, as a way to combat inefficiencies in dealing with economic strife. Louise Story has more.

The mood at stock exchanges remains somber on continued fears about a slowdown in the global economy.