Economy, Debt | featured news

After a long period of consumer retrenchment, U.S. families have cut their once-out-of-control debt loads down to pre-recession levels, largely removing one major obstacle to a faster economic recovery.

At a time when much of the advanced world is unloading its debt, South Koreans are still borrowing at a feverish rate that economists say is unsustainable, and potentially dangerous.

Japan says it will forgive about 300 billion yen ($3.7 billion) of Myanmar's debt as a way to support the country's democratic and economic reforms.

Bankruptcy lawyers have a frightening message for America: They’re seeing the telltale signs of a student loan debt bubble that is placing increased financial pressure on families struggling with their children’s mounting debt. According to a recent survey by the National Association of Consumer Bankruptcy Attorneys, more than 80 percent of bankruptcy lawyers have seen a substantial increase in the number of clients seeking relief from student loans in recent years.

Projections suggest the debt will continue to grow faster than the economy, which would have to expand by at least 6% a year to keep pace.

After a series of positive announcement from Greek FinMin Venizelos, rumors that Moody's would downgrade French banks and Germany was preparing for a Greece to default send equities tanking, particularly French banks.

Italy and Spain pass new measures as they battle to control their debts while Greece steps up its austerity plans.

President Obama said Friday Congress has a "unique opportunity to do something big" and stabilize the U.S. economy for decades by cutting deficits ...

Fitch Ratings on Wednesday downgraded Greece deeper into junk territory, citing the absence of a new and fully funded financing program for the country.

The International Monetary Fund cut its forecast for U.S. economic growth on Friday and warned Washington and debt-ridden European countries that they are "playing with fire" unless they take immediate steps to reduce their budget deficits.