(2022 ?) - Volcker Rule May Give Goldman, Citigroup Until 2022 to Comply - By Bradley Keoun - Goldman Sachs Group Inc. and Citigroup Inc. are among U.S. banks that may have as long as a dozen years to cut stakes in in-house hedge funds and private- equity units under a regulatory revamp agreed to last week ... - Bloomberg BusinessWeek

(sign of the the future?) Greeks Strike to Protest Pensions, Labor Law Overhaul - By Maria Petrakis and Natalie Weeks - Greek unions staged their fifth general strike of the year, halting ferries, public transport and other state services to protest government plans to cut pension benefits and loosen labor laws. - Bloomberg BusinessWeek

also

An interactive chart allows you to compare how the debt burden varies across 14 countries and to examine different types of borrowing. – Economist.com

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Lawmakers Vow to Fix Financial Reform Bill’s Swap Trading Error - By Matthew Leising - .US. lawmakers vowed to fix a technical error in the financial overhaul bill that could exempt more than 90 percent of swaps from new trading mandates if not corrected.  The legislation, approved last week by a House and Senate conference committee, requires swaps that are to be sent to clearinghouses to trade on exchanges or swap execution facilities. The definition of swap execution facility only refers to “security-based swaps,” a segment of the $615 trillion in private derivatives that totals no more than 5 percent of the market. – Bloomberg

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The Necessary but Painful Expiration of Extended Jobless Benefits - Abagail Doolittle - Lori Montgomery of The Washington Post appeared on a recent PBS NewsHour and made the point that as of June 2, or when the extended unemployment benefit package expired, there were some 5 million Americans receiving emergency benefits while about 4 million Americans were receiving regular jobless benefits. So while 1.3 million were “cut off” last Friday, so to speak, there are another roughly 3.7 million Americans who will be cut off from unemployment benefits when the package comes to an end at the end of October ... - Seeking Alpha
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(G20) The New Ideological Divide - By Peter Schiff -     ...  the capitalists are now the socialists, and vice versa. We now are witnessing a struggle between two camps that I playfully call the “Stimulators” and the “Austereians.” Both warn that a worldwide depression will ensue if governments now make the wrong choices: the Stimulators say the danger lies in spending too little and the Austereians from spending too much. ... - Euro Pacific