Debt & Deficit

Stranded Pawa Dominicana passengers gather around the Civil Aviation Board information desk, at Las Americas International Airport in Santo Domingo, Dominican Republic. Hundreds of travelers are stranded sleeping in the Dominican Republic’s international airport after authorities suspended the country’s main airline for non-payment of debts.

AP Photo/Tatiana Fernandez

Farmers from Tamil Nadu demanding loan waiver and drought-relief package protest by wearing garlands made of plastic bottles during their demonstration at Jantar Mantar, in New Delhi.

PTI Photo

An overhead view of an encampment set up by protesting farmers in the Plaza de Armas, in downtown Asuncion, Paraguay. The farmers, who have been camped out for almost a month, are facing economic hardship after failed harvests due to harsh environmental conditions, and are asking the government to forgive their debts. Last week Paraguay's President Horacio Cartes vetoed a law that would have forgiven the farmers' debts.

AP Photo/Jorge Saenz

Police stops a protest march by Rashtriya Kisan Mahashangha (RKM) from Jantar Mantar to NITI AYOG, in New Delhi. RKM is a confederation of 62 farmer organisation demanding for Liberating farmers from all debt and optimal price of their produce.

Photo by Jitender Gupta/Outlook

A Protest march by Rashtriya Kisan Mahashangha (RKM) from Jantar Mantar to NITI AYOG, in New Delhi. RKM is a confederation of 62 farmer organisation demanding for Liberating farmers from all debt and optimal price of their produce.

Photo by Jitender Gupta/Outlook

Farmers from various states shouting slogans after they were detained at the Parliament street police station prior to their protest at Niti Aayog for their demands of debt waiver and implementation of the Swaminathan commission report, in New Delhi.

Photo by Jitender Gupta/Outlook

In this file photo,owner of Kingfisher Airlines Vijay Mallya gets into his car outside the Parliament in New Delhi,

AP Photo/Saurabh Das, file

Activists of youth wing of Congress party shout anti-government slogans standing over a police barricade during a protest against businessman Vijay Mallya.

AP Photo/Manish Swarup

People walk outside a money exchange house in Buenos Aires, Argentina. Argentina's currency sharply devalued against the U.S. dollar on Thursday as the new administration lifted deeply unpopular limits on the buying of foreign currencies.

AP Photo/Victor R. Caivano

The first customers, most of them pensioners, enter a branch at the National Bank of Greece headquarters in Athens. Greek banks reopened but with many restrictions on transactions, including cash withdrawals.

AP Photo/ Thanassis Stavrakis

An anti-austerity protester throws a bottle at riot police in Athens. Greece's prime minister was fighting to keep his government intact in the face of outrage over an austerity bill that parliament must passif the country is to start negotiations on a new bailout and avoid financial collapse


Greek Prime Minister Alexis Tsipras, left, speaks with, from left, European Commission President Jean-Claude Juncker, French President Francois Hollande and Belgian Prime Minister Charles Michel during a meeting of eurozone heads of state at the EU Council building in Brussels.


Far-right E.U Parliament members display posters before Greek Prime Minister Alexis Tsipras delivers his speech at the European Parliament in Strasbourg, eastern France.


Demonstrators gather during a rally organised by supporters of the Yes vote as the ancient Acropolis hill is seen in the background in Athens.

AP Photo/ Emilio Morenatti

An elderly demonstrator with stickers reading ''No'' on her face shouts slogans during a rally organised by supporters of the No vote in Athens. A new opinion poll shows a dead heat in Greece's referendum campaign with just two days to go before Sunday's vote on whether Greeks should accept more austerity in return for bailout loans.

AP Photo/ Petros Giannakouris

Pensioners line up as they wait to be allowed into a bank to withdraw a maximum of 120 euros ($134) for the week. Greece braced for more chaos on the streets outside its mostly shuttered banks, as Athens and its creditors halted talks on resolving the country's deepening financial crisis until a referendum this weekend.

AP Photo/ Daniel Ochoa de Olza

People stand in a queue to use an ATM outside a closed bank in Athens. It's crunch time for Greece, with the European part of its international bailout expiring and with it any possible access to the remaining rescue loans it contains that it needs to pay its debts. As a result, the government is unlikely to repay a roughly 1.6 billion-euro debt to the International Monetary Fund, a move that increases fears the country is heading to a messy default and potential exit from the euro currency.

AP Photo/ Thanassis Stavrakis

People stand in a queue to use an ATM outside a closed bank in Athens. Greek Finance Minister Yanis Varoufakis confirmed that the country will not make its payment due later to the International Monetary Fund. With banks shut and Greeks limited to cash withdrawals of 60 euros per day, long lines formed once more at ATM machines.

AP Photo/ Thanassis Stavrakis

Supporters of the NO vote in the upcoming referendum hold a Greek flag as riot police block the entrance of the parliament during a rally at Syntagma square, in Athens.

AP Photo/ Daniel Ochoa de Olza

Supporter of the NO vote in the upcoming referendum, holds an old 1,000 drachma bank note during a rally in the northern Greek port city of Thessaloniki. Anxious Greek pensioners swarmed closed bank branches and long lines snaked at ATMs as Greeks endured the first day of serious controls on their daily economic lives ahead of a July 5 referendum that could determine whether the country has to ditch the euro currency and return to the drachma.

AP Photo/ Giannis Papanikos

Members of the Catalonian Police Police "Mossos d'Esquadra" set off firecrackers during a protest against cutbacks in Barcelona, Spain. Spain is struggling to emerge from its second recession in just over three years.


Prime Minister Manmohan Singh at a meeting with his new Council of Ministers in New Delhi. Holding that "high" fiscal deficit is a deterrent for domestic and foreign investments, Singh said the government will have to overcome constraints to achieve a target of nearly USD one trillion of investment in infrastructure sectors.

PTI Photo/ Kamal Singh

A British police officer holds a demonstrator outside a fast food restaurant during an anti-austerity protest march through central London. Tens of thousands of demonstrators descended on the British capital in a noisy but peaceful protest against a government austerity drive aimed at slashing the nation's debt.

AP Photo/Matt Dunham

Kingfisher employees, engineers and pilots take part in a candle light march from airport to Kingfisher House in Mumbai.

PTI Photo by Shirish Shete

An Indigo Airlines plane takes off as Kingfisher Airlines aircrafts jets are parked at the Indira Gandhi international airport in New Delhi. Kingfisher Airlines grounded flights for at least three days after a violent strike over unpaid wages.

AP Photo/Tsering Topgyal

A pedestrian walks in front of graffiti in Athens. Unions have called a nationwide general strike to protest new austerity measures being hammered out between the government and Greece's international creditors to ensure the country continues receiving emergency loans that have kept it afloat since 2010.

AP Photo/Thanassis Stavrakis

The Prime Minister, Dr. Manmohan Singh meeting the President of France, Mr. Francois Hollande, on the sidelines of the G-20 Summit, at Los Cabos, Mexico.

Prime Minister Manmohan Singh (L) during the first plenary session of G20 Summit at Los Cabos, Mexico. India announced a 10 billion USD contribution to the IMF's additional 430 billion USD financial firewall to help the debt-wracked 17-nation eurozone so that the faltering world economy is protected against the spread of any financial contagion. The announcement of the contribution was made by Prime Minister Manmohan Singh in his address at the Plenary Session of the seventh summit of the Group of developed and developing countries(G-20) in this Mexican resort town against the backdrop of growing calls to nations to increase contributions to the International Monetary Fund(IMF) for the bailout fund.

PTI Photo/ Vijay Verma

Prime Minister Manmohan Singh with Mexican President Felipe Caideron before the first plenary Session of the G20 summit at Los Cabos, Mexico. India announced a 10 billion USD contribution to the IMF's additional 430 billion USD financial firewall to help the debt-wracked 17-nation eurozone so that the faltering world economy is protected against the spread of any financial contagion.

PTI Photo/ Vijay Verma

Prime Minister, Manmohan Singh briefing the media on his arrival at the Los Cabos International Airport, in Mexico. Arriving for the crucial G-20 summit, Singh said the world economy is in "deep trouble" and hoped that the grouping of developed and developing countries will come up with constructive proposals to pull the world out of this crisis.

Stranded passengers at the Chhatrapati Shivaji International Airport in Mumbai as many Air India flights were cancelled on day 5 of the pilots' strike. The national carrier cancelled 16 flights originating from Delhi and Mumbai even as senior pilots sought the Prime Minister's intervention to end the impasse.

PTI Photo

Kingfisher Airlines Chairman Vijay Mallya coming out after a meeting with the Director General of Civil Aviation EK Bharat Bhushan over the ongoing crisis.

PTI Photo/Kamal Singh

Kingfisher chairman Vijay Mallya arrives to meet Kingfisher Airlines pilots to discuss the financial crisis gripping the airline, in New Delhi. India's cash-strapped Kingfisher Airlines said it will cut overseas flights and return leased aircraft as part of a strategy to reduce costs.

AP Photo/Tsering Topgyal


A banner is lifted outside the Parliament building which reads "money for salaries and for the jobs in Europe, not for the financial world" during a demonstration to protest against the austerity policy in Paris. France's leading unions are staging nearly 200 protests nationwide against austerity measures aimed at reducing huge debts amid Europe's worsening economic troubles. Five unions organizing the protests say in a statement that the austerity measures, notably reductions in social benefits, will lead to recession and "deepen inequalities and plunge thousands of families in economic difficulty."

AP Photo/Michel Euler

French President Nicolas Sarkozy, right, reacts with Spain's incoming prime minister Mariano Rajoy prior to a bilateral meeting on the sideline of the 20th congress of the EPP, in Marseille, southern France. The leaders of France and Germany hoped to rally fellow European conservatives around their latest bid to save the euro currency from collapsing under the weight of huge state debt.

AP Photo/Gerard Julien, Pool

German Chancellor Angela Merkel and French President Nicolas Sarkozy say good bye after their meeting in Strasbourg, France. The leaders of Germany, France and Italy are set for a debate about the European Central Bank's role in region debt crisis and on how to align eurozone economic policies.

AP Photo/Michael Probst

Senate President Renato Schifani, left, hides his mouth as he talks to Senate member Guido Viceconte during a voting session on economic reform measures demanded by the European Union, that should pave the way for Premier Silvio Berlusconi to leave office in a matter of days, at the Senate in Rome. The prospect of a transitional government headed by respected non-partisan economist Mario Monti calmed markets for a second day, with Italy's 10-year borrowing rate down a further 0.21 percentage point to 6.59 percent. Shares were buoyant too, with the Milan stock index was up 1.7 percent in early trading at 15,477.

AP Photo/Pier Paolo Cito

Italian Premier Silvio Berlusconi, center, flanked by Interior Minister Roberto Maroni, left, and Reforms Minister Umberto Bossi attends a voting session at the Lower Chamber, in Rome. Premier Silvio Berlusconi won a much-watched vote, but the result laid bare his lack of support in Parliament as financial pressure from the eurozone debt crisis pummeled Italy.

AP Photo/Andrew Medichini

Members of the Left Coalition Party of Greece, SYRIZA, hold a banner reading ''End the Governments of Bankers, Austerity is the Problem not the Answer'' at the entrance of the Acropolis ancient site in Athens. Power-sharing talks between Greece's two main political parties entered their second day, as European leaders stepped up the pressure for a quick resolution by holding back a vital rescue loan that the country needs to prevent a devastating bankruptcy.

AP Photo

Specialists Jennifer Klesaris, and William Bott, right center, work at a post on the floor of the New York Stock Exchange. Worries that a planned Greek referendum could scuttle a plan to resolve Europe's debt crisis rattled markets. Stock indexes plunged in the U.S. and Europe.

AP Photo/Richard Drew

President Barack Obama walks out of the Oval Office to make a statement in the Rose Garden of the White House in Washington, on the passage of legislation to raise the debt ceiling.

AP Photo/ Susan Walsh

Striking taxi drivers chant anti government slogans outside the transport ministry in Athens. Hundreds of taxi drivers took part in the protest against new licensing laws, as talks between the government and unionists collapsed. Taxi drivers have called an open-ended strike against the proposed changes, at the heart of Greece's vital tourism season. Greece is in the throes of an acute debt crisis, which European Union leaders will seek ways of tempering at a summit meeting in Brussels on Thursday.

AP Photo/Petros Giannakouris

French President Nicolas Sarkozy, right, and Spain's Prime Minister Jose Luis Rodriguez Zapatero share a word during a round table meeting at an EU summit in Brussels. Portugal's political crisis and uncertainty over the true scale of problems at Irish banks dominated a summit of European Union leaders that was designed to finally put an end to the region's crippling debt crisis.

AP Photo/ Yves Logghe

German Chancellor Angela Merkel, left, and French President Nicolas Sarkozy prepare to release a joint statement during a media conference at an EU summit in Brussels. EU leaders met for a one-day summit, with energy, the eurozone debt crisis and unrest in Egypt set to dominate the agenda.

AP Photo/Yves Logghe

Protestors wearing face masks depicting, from left, European Council President Herman Van Rompuy, French President Nicolas Sarkozy and German Chancellor Angela Merkel hold a sign during a demonstration outside of an EU summit in Brussels. EU leaders meet for a one-day summit, with energy, the eurozone debt crisis and unrest in Egypt set to dominate the agenda.

AP Photo/ Virginia Mayo

British Prime Minister David Cameron speaks with the media as he arrives for an EU summit in Brussels. European Union leaders, opening a two-day summit, are at pains to inject more financial discipline into eurozone nations to prevent another debt crisis from gutting confidence in Europe's single currency.

AP Photo/Thierry Charlier

Chinese Prime Minister Wen Jiabao, left, shakes hands with Greek President Karolos Papoulias prior their meeting in Athens. Wen is visiting Greece ahead of an EU-China summit this week and said his country was committed to assisting Europe's post-recession recovery by backing a stable euro and not reducing his country's holdings of bonds from EU countries, despite the EU sovereign debt crisis. Speaking at Greece's parliament Sunday, Wen urged the EU to recognize China's "full market economy status" and relax remaining restrictions to high-tech exports.

AP Photo/Petros Giannakouris

A protester confronts riot police outside parliament during a rally in central Athens. The Greek government is battling growing discontent over a new round of economic austerity, with fresh strikes, public hostility, and party dissent testing the nation's ability to make it out of its debt crisis. Unions staged their sixth general strike this year _ halting public transport and services, stopping ferry departures and closing schools, newspapers, courts and public hospitals.

AP Photo/Dimitri Messinis

A security guard looks on as Nano, Tata's ultracheap microcar, are parked at a new factory at Sanand, about 40 kilometers from Ahmadabad. Tata Motors plans to start commercial production of the Nano in Gujarat next week. So far, the company has delivered 30,763 Nanos. It also reported higher-than-expected consolidated annual profits thanks to a turnaround in its Jaguar Land Rover business, stoking the global ambitions of India's largest vehicle maker despite uncertainties from Europe's debt crisis.

AP Photo/Ajit Solanki