1. PHEW

    Greece Survives Confidence Vote

    Lefteris Pitarakis / AP Photo

    Greek Prime Minister George Papandreou has survived a critical confidence vote Tuesday that could allow him to push through measures to obtain a much-needed bailout. The EU and the IMF are requiring Greece to impose more austerity measures in exchange for the bailout, which would keep it from defaulting on its debts and sending European banks—and the world market—into chaos. But Greek opposition parties rejected the austerity package, forcing Papandreou to call for a confidence vote. If the leader had lost the vote, Greece could have gone into default.

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