In a hard-hitting interview with Le Monde today, ECB president Jean-Claude Trichet was asked about Plan B - if, for some reason, Greece does not honour its commitments? "That is not part of our working assumption. Greece must and will honour its commitments." Trichet also denied that an Anglo-Saxon conspiracy was to blame for the rapidly falling euro.
Ghost hunters: On the trail of a ‘living fossil’ BBC
Dachshund U.N. – a sign of hope for dogs and mankind Culture Mulcher (hat tip reader Crocodile Chuck)
Radioactive fish near nuclear plant said ordinary Washington Post (hat tip reader MindTheGAAP)
BP facing multimillion-dollar legal claim from British pension fund Guardian
Trust your senses Gulf Oil Blog
How BP’s Deepwater Horizon oil find was originally reported in September 2009 Ed Harrison
Hurricane Season Complicates Gulf Oil Spill Huffington Post
Bankers’ ‘doomsday scenarios’ under fire Financial Times. I take Cecchetti seriously here; his bias is to be bank friendly, and he is taking them very much to task.
Courts hit by a deluge of civil credit crunch cases Independent
Some Say European Central Bank May Be Missing Deflation Threat New York Times
The Pain Caucus Paul Krugman, New York Times
Obama Talks Left To Move Right, As Wall Street Criminals Are Given A Free Pass And Reforms Are Watered Down Danny Schechter