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Greece was on deadline to deliver a cost-cutting plan to the IMF and EU last week, this past weekend and today.

Now, the deadline has been extended. When might the country default?

Negotiations with private sector creditors are going well, but Greek officials are struggling over terms for a second bailout from the IMF and the EU

The International Monetary Fund steps up its role in Europe. It's monitoring Italy's economy and aims to raise funds from emerging countries like China.

International Monetary Fund Managing Director Christine Lagarde sounded the alarm Thursday that global economies are in a "dangerous phase," in her first major speech in Washington since taking over as fund chief.

The EU and the IMF are meeting to see if Greece deserves its next round of bailout funds.

The global recovery is moving at two speeds, with emerging countries like China still expanding rapidly as advanced economies like the United States grow at a snail's pace.

The International Monetary Fund said Thursday that Japan has the financial means to get through this disaster and get on the road to reconstruction and growth.

The recovery in the U.S. economy has been stronger than expected, although growth is expected to slow over the next few years, according to the International Monetary Fund.

Over the weekend, Spain bailed out a small savings bank. The IMF says Spain is doing OK, but still needs to make big reforms.

Meanwhile, the head of the European Commission told Germany its proposals for solving the crisis are naive. So far, the U.S. has been mostly unscathed by the crisis in Europe, but there are places where we're feeling it.

Alisa Roth reports.

Greece's European partners have agreed to a package of loans to protect the Greek government from default -- $41 billion are on offer with another $20 billion from the IMF.

But will yet more debt help solve the debt problem? Stephen Beard reports.