EU leaders agree to debt summit
European Council president Herman Van Rompuy has called an emergency summit of euro zone leaders next Thursday as it seeks to prevent contagion from the debt crisis spreading to Italy and Spain.

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May bank lending highest in 2 years
Bank lending in May grew at its fastest rate in more than two years, indicating steady expansion of the domestic economy. The BSP reported money supply growth also picked up during the month.

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Delayed payments balances books, but burden schools
Gov. Dayton and Republican legislative leaders may resort to delaying more payments to Minnesota’s public schools as a way to close a $5 billion projected budget gap. That’s one tactic that both sides have floated as part of the budget solution. It saves costs to the state, but adds more burden to the school districts.

Read more on Minnesota Public Radio

Home loans for as low as 0.2%
At least two Singapore banks have been dangling some of the lowest ever home loan rates, currently pegged at about 0.2 per cent, on selected properties. Analysts say the moves by DBS Bank and United …..

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Real Estate News: Africa Israel Buys High, Sells Low
Here is a look at real-estate news in today’s WSJ:

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DOJ Begins Bank Witch Hunt
In what could be a repeat of the easy-lending cycle that led to the housing crisis, the Justice Department has asked several banks to relax their mortgage underwriting standards and approve loans for minorities with poor credit as part of a new crackdown on alleged discrimination, according to court documents reviewed by IBD.

Read more on Investor’s Business Daily via Yahoo! News

The Euro and You
“Global regulators…have no real sense of what type of contagion effect would occur if Greece were to default,” observes Michael Lewitt in the June 16, 2011, edition of The Credit Strategist . “No doubt they believe it is significant enough that they are willing to do virtually anything humanly possible to prevent this scenario from unfolding.”

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