Dr. Alexander Mirtchev Discusses the U.S. Government's Measures to Deal With the Global Economic Crisis and Stresses the Imperative for Viable Exit Strategy on the Riz Khan Show

Dr. Alexander Mirtchev, founder and president of Krull Corporation, discussed the U.S. government's actions in response to the crisis in the economy on Al-Jazeera's Riz Khan Show. The complexities created by the precarious economic and financial situation are exacerbated by what is perceived as a "failure of the reigning 'social contract'" between Main Street, Wall Street and the U.S. government. "To put it simply, Main Street was relying on Wall Street to go about its business, with the government perceived as the arbiter and even guarantor of sure returns. Presently, the collapse of this 'contract' is giving rise to calls from different quarters for overhauling the whole system," according to Dr. Mirtchev.

ECB's Paramo says euro crisis won't end soon

The euro zone's debt crisis is far from over, European Central Bank Executive Board member Jose Manuel Gonzalez-Paramo said on Friday and called for private sector help to ease Greece's debt problems.

On Thursday European Union leaders promised more money to help Greece stave off looming bankruptcy, provided its parliament enacts an austerity plan finalised in fraught last-minute talks with international lenders.