Economics Nobel laureate and Harvard professor Eric Maskin raises a red flag on protectionism. Speaking on the sidelines of the Summit he reminds us that protectionist policy mistakes turned the recession that followed the Great Crash of 1929 into the Great Depression of the 1930s. Avoiding those mistakes again is important, he says, if the recovery from the Great Recession that followed the 2008 Global Financial Crisis is to be sustained.

Economics Nobel laureate and Harvard professor Eric Maskin raises a red flag on protectionism. Speaking on the sidelines of the Summit he reminds us that protectionist policy mistakes turned the recession that followed the Great Crash of 1929 into the Great Depression of the 1930s. Avoiding those mistakes again is important, he says, if the recovery from the Great Recession that followed the 2008 Global Financial Crisis is to be sustained.

The U.K. bank saw around $12.5 billion wiped off its market value.

This is the fifth quarter in which Freddie hasn't requested aid.

It will help the firm stay in business after last week's software glitch.

The stock market surged Friday after four days of losses as the government reported a sharp pickup in hiring by U.S. employers in July.

The European Central Bank will only act after euro zone governments activate funds to do the same.