bailout

One of the painful concessions debt-ridden Greece is making to qualify for a new international bailout is reducing the minimum wage.

The European Union and the International Monetary Fund say this will make the Greek labor market more competitive and ultimately boost growth.

Reporter Joanna Kakissis has the story of how strong unions pushed aside a weak business lobby to secure government guarantees of high salaries including the minimum wage.

In 2011, Chrysler recovered from bankruptcy by redefining itself as a better, more luxurious car company and paying off nearly $8 billion in bailout loans.

To top it all off, Chrysler sales are up 25 percent this year, about twice the industry average.

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The Federal Housing Administration today issues its annual report to Congress. A Wharton School professor is warning the FHA's problems are worse than the agency is letting on.

The professor predicts that taxpayers will have to provide another multi billion dollar bailout if the economy doesn't improve soon.

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Lucas Papademos was named prime minister of the new Greek interim government Thursday. His main task will be to implement the multibillion-dollar bailout that Eurozone leaders agreed to last month.

But can he convince Greeks to swallow the austerity measures they hate? Steve Inskeep talks to reporter Joanna Kakissis, who is in Athens.

"It's money being moved around at a frantic rate because they don't have the money," one expert says.

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