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New IMF chief Lagarde issues dire warning on U.S. debt default

New IMF chief Christine Lagarde warned on Sunday that a US debt default would jeopardize global economic stability and urged warring American politicians to forge a compromise budget deal. A default “would certainly jeopardize the stability, but not just the stability of the US economy, it would jeopardize the stability…

Athens crippled by anti-austerity protest

Hundreds of unionists protested in Athens on Tuesday against proposed wage cuts in Greece’s inefficient public utility services as a transport strike sparked huge traffic snarl-ups in the capital. The protesters gathered in front of the Greek parliament as the chamber discussed salary cuts of up to 25 percent for…