Britannia Radio

Angela Merkel dashes Greek hopes of rescue bid: German chancellor refuses to rescue Greece's ailing economy amid Berlin's domestic austerity

Collapse of the euro is 'inevitable': Bailing out the Greek economy futile, says FRENCH banking chief

Euro zone GDP recovery falters, bumpy road ahead: Recession continued in Ireland, Greece and Cyprus, while Portugal stagnated. Austria and the Netherlands expanded.

Welcome to boarded-up Britain: One in eight shops now stand empty as recession hits high streets: A report shows 12.4 per cent of shops in town centres are empty, compared to 4 per cent in the summer of 2007.

Obama Signs Bill Lifting Federal Debt Limit to $14.3 Trillion:The debt limit was increased from $12.4 trillion to keep the U.S. from going into default. Obama signed the bill privately Friday at the White House.

Credit Suisse Declares the U.S. a Riskier Investment Than Indonesia: Countries ranked less likely to default include corruptocracy Kazakhstan, less-than-reform-minded Indonesia, the debt-ridden Philippines and violence-ridden Colombia

US banks facing $1.4tn crisis over commercial property loans: America's fragile high street banks are bracing themselves for a fresh financial crunch as a wave of commercial property mortgages go sour on offices, shops and factories, causing losses of up to $300bn (£192bn) hitting nearly 3,000 small- and medium-sized financial institutions.

Foreclosure numbers may foretell delinquency surge: The number of U.S. households facing foreclosure in January increased 15 percent from the same month last year, and a surge in cash-strapped homeowners who've fallen behind on mortgages could be on the way.

Metro Atlanta foreclosures skyrocket this month: Foreclosure notices in metro Atlanta jumped 27 percent in February, compared with January. They were up 34 percent when compared to a year ago, according to data just released from Equity Depot.

Dallas/Fort Worth quarterly foreclosure postings jump 22%: Foreclosure filings on homes in the first quarter of 2010 jumped 22 percent when compared with the same period last year, a new report from Foreclosure Listing Service Inc. said Thursday.

February foreclosure forecast: Bleak to bleaker: "Among states, Nevada posted the nation's highest foreclosure rate, followed by Arizona, California, Florida and Utah. Rounding out the top 10 were Idaho, Michigan, Illinois, Oregon and Georgia." That according to a report in Yahoo.com earlier in the week.

The Coming Foreclosure and Commercial Real Estate Storms: There's near-universal agreement that principal reduction is the key, but we are left with lame programs, like this one announced yesterday by CitiMortgage. The so-called "strategic non-foreclosure" continues the "extend and pretend" policy that bank lenders have pursued over the past year.