Who Blew Up China’s Stock Bubble? – Bloomberg Business

In China, the invisible hand of the market sometimes needs help from the iron fist of the state. That’s certainly true after a meltdown vaporized $3.5 trillion in the value of shares traded on the Shanghai and Shenzhen exchanges. President Xi Jinping’s government isn’t being subtle in its campaign to reflate the bubble it had a big…

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Fear Grows in Greece as Decisive Hour Nears – WSJ

Greece requested a new three-year bailout from its skeptical eurozone creditors and pledged some economic overhauls on Wednesday, but the euphoria some Greeks felt after Sunday’s “no” vote on the last deal was fading fast. Whether European leaders accept the Greek government’s application for more emergency loans at a crisis summit Sunday still depends on Prime Minister…

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Proof That Merkel Is Europe’s Economic Bully – Bloomberg Business

“The lesson of this crisis is more Europe, not less Europe,” Angela Merkel said in 2012 as the integrity of the region’s monetary union was threatened by financial instability, touched off by Greek debt, that was spreading through the euro zone’s weaker economies. By “more Europe,” the German chancellor meant a deepening of the continent’s…

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First Sighting of Drachma in the Wild, Via Credit-Card Mystery – Bloomberg Business

Ladies and gentlemen, behold the first sighting of the new Greek drachma:   Between June 28 and July 4 at a Hilton hotel in Athens, transactions on a Bloomberg reporter’s Visa credit card issued by Citigroup Inc. were posted as being carried out in “Drachma EQ.” The inexplicable notation — bear in mind, the euro remains Greece’s…

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What will happen to the Internet if Reddit shuts down – The Washington Post

If Reddit went offline tomorrow, you would see immediate ripples across the Internet. First, and perhaps least importantly, traffic to porn sites would plummet. Later, major news, entertainment and e-commerce sites, including YouTube and Amazon, would feel a notable, if not debilitating, hit. And then, concur a dozen Reddit power-users, academics and social media experts…

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