Here’s a roundup of this morning’s must-read budget and economic stories:
On Friday, the S&P downgraded the debt ratings of nine European countries, including France and Italy. The New York Times, Politico, Reuters and The Wall Street Journal have the details. Bloomberg and The New York Times look at the likely reactions in the various countries.
The Hill says it is unlikely that Congress will pass a reform of Fannie Mae and Freddie Mac this year. The Hill also writes that the Obama administration is likely to come out with a new plan to help distressed homeowners.
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