John Peet, Europe editor of The Economist in London, talks to David Greene about European reaction to heightened speculation that Greece may leave the eurozone. Next month, voters are likely to back parties that want to tear up the IMF-EU bailout deal.
This is MORNING EDITION, from NPR News. Good morning. I'm David Greene. And let's talk a little TV now. The broadcast networks are all gathered up in New York this week for what's known in the biz as the upfronts. This is when they tout their fall lineups to advertisers with star-studded presentations, trying to get their share of about $9 billion worth of advertising.
NPR's business news starts with some good news for the housing market.
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GREENE: Home foreclosures in the United States are down for the third straight month, according to the foreclosure listing from RealtyTrack. Nationwide, a new RealtyTrack report finds foreclosure rates in April were down 14 percent over last year, hitting the lowest monthly level in nearly in five years. Transcript provided by NPR, Copyright NPR.
Euros are being drained out of Greek banks at a rate of up to $1 billion a day this week. In the wake of the country's election turmoil, depositors are nervous about the heightened possibility of a Greek exit from the euro. If that were to happen, euros left in Greek banks could be worth much less than euros outside the country.
Beyond Meat, a new company based in Maryland, has come up with an alternative to chicken meat that it claims is a dead ringer for the real thing. And unlike other meat alternatives on the market, this one aims to be cheap as well as tasty.
This weekend, about 60 heads of state and government, and thousands of others will descend on Chicago to attend a NATO summit. The gathering will focus on the alliance's involvement in Afghanistan — and ensuring a long-term commitment to the country.
But the meeting comes at a time of tension within NATO. Discussions will also include the future of NATO itself, and whether it can overcome its shortfalls.