Merkel Shuts Down Greek Bid for New Aid Talks Before Referendum
German Chancellor Angela Merkel dismissed a bid for aid by Greece hours before its bailout expires and a payment deadline to the IMF passes.
European Recession Likely: Ernst & Young, ECB President Draghi
E&Y also says euro breakup still possible, despite austerity measures being taken, but flat growth seen in European GDP in 2012
PIMCO's El-Erian Sees Higher Risk of Recession in U.S., Eurozone
CEO of PIMCO sets odds of eurozone recession at 50%, U.S. between 33%–50% as ECB ponders interest rate cut to forestall double-dip.