By Brai Odion-Esene

WASHINGTON (MNI) - President Obama Friday defended his administration's handling of the U.S. economy's recovery from the "Great Recession" onward, using the platform of a late morning news conference to counter claims the government is tackling too late an issue that many believe should have been its No. 1 priority all along.

The president faced questions on a variety of issues, but the majority focused on the economy and a slow recovery.

By John Shaw

WASHINGTON (MNI) - Treasury Secretary Tim Geithner will spend most of next Thursday on Capitol Hill, defending his department's international economic and foreign exchange report, and trying to persuade lawmakers that he is making progress in getting China to reform its currency.

BRUSSELS (MNI) - European Union rules on debt and deficits should be incorporated into each member state's national law, leading business lobby group Business Europe said on Friday.

"An individual obligation towards discipline and stability, and a collective drive to reform, are essential," BusinessEurope's President Jurgen Thumann wrote in a letter to Belgian Prime Minister Yves Leterme, who currently holds the rotating presidency of the European Union.

FRANKFURT (MNI) - The idea of Greece leaving the Eurozone is "absurd" and would only serve to increase the country's debt burden, European Central Bank Executive Board member Lorenzo Bini Smaghi said Thursday.

ATHENS (MNI) - Greek government revenues remained well below target in August, according to preliminary data released Friday by the Finance Minister.

Revenues for the first eight months of the year posted a modest annual rise of 3.3%, compared to the full-year target for a rise of 13.5% in the accord for IMF-EU loans signed in May.

FRANKFURT (MNI) - Germany will sell E2 billion in a top up of its June-2011 maturity bubill, the Bundesbank confirmed Friday.

The formal tender offer will be announced next Friday, September 17. Bids are due by 0900 GMT on Monday, September 20, with results of the allocation to be announced shortly thereafter.

The bubills will settle on Wednesday, September 22, 2010 and mature on June 29, 2011.

FRANKFURT (MNI) - The German federal government is seeking bids for a E5 billion sale of new 6-month bubills, the Bundesbank confirmed Friday.

Bids are due by 0900 GMT on Monday, September 13. The announcement of the auction results will be made shortly thereafter.

The bubills will settle on Wednesday, September 15, 2010 and mature on March 16, 2011.