A rider competes in show jumping on the fourth day of the Badminton Horse Trials in Badminton, England, on Monday.
The Greece debt crisis, which is still subject to German parliamentary approval and may be challenged in court, is putting unsustainable stress on the European Central Bank, some analysts say.
A visitor looks from outside the Danish pavilion at the Shanghai World Expo on April 25. The expo started trial operations on Tuesday with participation from about 70 percent of the pavillions, Xinhua reported. The Shanghai World Expo opens on May 1.
On average, drivers are paying $2.88 a gallon at the gas pump. Gas prices are expected to continue rising because of high oil prices.
The Greece debt crisis should be a warning. History shows that unless this buildup of sovereign debt is tackled eventually by raising taxes and controlling spending, then there are only two outcomes: default or high inflation.
No longer a mere threat, the Greek financial crisis has spread to the eurozone and has raised concern over contagion.
The Greek debt crisis continued to roil European debt markets on Wednesday after a leading rating agency cut the country's debt status to junk. While short term aid to Greece is a near certainty, economists warn that more international cash – and painful political steps in Athens – will be needed.
A member of Brazil's Xikrin Nation holds a baby before the Indigenous Nations' Games in Pagagominas, Brazil, in November 2009. A French documentary by Thomas Balmes, "Babies," opened the Hot Docs Canadian International Documentary Festival on April 29. The Focus Features film followed four babies in four places - Mongolia, Namibia, San Francisco, and Tokyo – through their first year.
With its bonds rated as junk, the debt crisis in Greece must prompt Athens to take far greater austerity measures than originally planned. Political leaders and the public must find the courage for the necessary sacrifice.