Recovery can survive coming fiscal drag: Bernanke

Date: Wed, 09 Jun 2010 12:00:56 -0400

RECOVERY CAN SURVIVE COMING FISCAL DRAG: BERNANKE
The U.S. economy is strong enough to withstand any fiscal tightening
that lies ahead, Federal Reserve Board Chairman Ben Bernanke tells a
congressional committee.

IRELAND'S EXAMPLE NO GUARANTEE OF SAFETY
Though it's touted as the model for fiscal reforms in Europe,
Ireland's efforts to restrain spending are no guarantee of economic
recovery, economists say.

EUROPEAN DELEGATION REVEALS RIFT ON VOLCKER RULE
There appears to be a split over whether each country would support
implementing a legislative proposal that would bar big banks from
making speculative proprietary derivatives and stock investments for
their own accounts.

MERKEL, SARKOZY PRESS EU SHORT SELLING BAN
German Chancellor Angela Merkel and French President Nicolas Sarkozy
call on European officials to consider a ban on certain types of short
sales ahead of a July meeting of European Union finance ministers.

U.S. STOCKS STRONGLY UP AS BERNANKE REASSURES
U.S. stocks are on the climb, playing off statements by Federal
Reserve Chairman Ben Bernanke that help generate investor optimism, as
the Dow industrials reclaim the 10,000 mark.