Greece May Sue U.S. Banks Over Debt Crisis

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The Euro fell to a four year low causing ripple effects to Asian Markets. Late credit card payments are down, the delinquency rate fell to 1.1% compared with 1.3% last year. Plus: Starting this summer, Starbucks will sell its ground flavored coffee in grocery stores.

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Greece May Sue US Banks   business advice   credit card reform   finance tips   financial advice   financial updates   greek debt crisis   MoneyWatch   wall street dropGreece May Sue US Banks   

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Good morning! Asian stock markets tumbled today. An investor concern, the Europe debt crisis will worsen as the Euro fell to a four-year low. The European Central Bank president said Europe’s economy is in its most difficult situation since World War II or even since World War I. That’s despite a trillion dollar debt package announced last week. Japan’s Nikkei lost 2% while Hong Kong’s Hang Seng was also lower. Greek Prime Minister George Papandreou says he is not ruling out taking legal action against U.S. investment banks for their role in creating the spiraling Greek debt crisis. The European debt crisis is also taking a toll on Wall Street. The Dow opens down this morning after following 163 points on Friday. The NASDAQ lost 47. Late credit card payments fell sharply in the first quarter partly due to new credit card reforms that took effect in February that curb interest rate hikes another fees. According to the credit reporting agency TransUnion, the delinquency rate for borrowers dropped 1.1% in the first quarter from 1.3% for the same period last year. Beginning this summer, Starbucks will sell flavored ground coffee; vanilla, caramel and cinnamon flavors will be available at grocers under Starbucks. New Natural Fusions label, the announcement is the company’s first since the multi-million dollar premium flavored coffee market so far. Folgers and Maxwell House dominate store shelves in that arena. That’s your Money Watch. For more, stay with CBS MoneyWatch.com. In New York, I’m Emily Smith.

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http://www.contentdeity.com/video/290232997/Greece-May-Sue-US-Banks-Over-Debt-Crisis.html

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