The G20 London summit failed to adopt the demands of either the US and Britain, which advocated coordinated global fiscal stimulus, or a European bloc led by Germany and France, which called for international regulation of major financial institutions: here.
This is a video about auto workers near Detroit in Michigan, USA.
USA: Wall Street celebrates accounting rule changes designed to hide losses: here.
The Detroit Public School District’s “emergency financial manager” has announced that up to a third of the city’s schools will be shut down over the next two years, with thousands of layoffs of teachers and staff: here.
Recession Takes Hold in France: here.