Greece Up Against Debt Deadline

Uh-oh, not again. It’s deadline day for Greece to reach a deal in order to receive a bailout package from the European Union, and Prime Minister Lucas Papademos is convening an emergency meeting with political allies to try to win support for the austerity measures and reforms that are necessary to pass before the E.U. comes to the rescue. Papademos must reach a deal by Sunday night so that euro-zone ministers can finalize the bailout on Monday, while the money must be in place by mid-March in order for Greece to avoid a default.