Stiglitz: IMF Rescue of Greece 'Sad' for Europe

Short & sweet tonight. Nobel Prize-winning economist Joseph Stiglitz talks with Bloomberg's Francine Lacqua about Greece's debt problem and China's currency. Stiglitz said an International Monetary Fund rescue of Greece would be a "sad" chapter in the history of the European Union.

***Update on Greece***

Bloomberg reports that European governments offered debt- burdened Greece a rescue package worth as much as 45 billion euros ($61 billion) at below-market interest rates as they try to end its fiscal crisis and restore confidence in the euro. .