In a time when pretty much the whole of Europe is facing a financial crisis, there have been some talks about Greek debt restructuring. Germany is of course the first choice for debt relief for Greece. However, there has been some speculation on that front after Angela Merkel summed the request with the quoted “out of the question.”
Citigroup made profits of $2.9 billion in the first three months of the year. Citigroup said that it had been helped by record revenue from processing transactions for its international clients and more customers repaying loans on time. Revenue fell 2 percent to $19.4 billion from the year-ago quarter.