Congress has the sense to not spend the money of an already broke US on foreign governments.
The stock market rebounded somewhat Friday morning after news that the German parliament approved that country's portion of a large European bailout.
The Dow Jones Industrial Average dropped below the 10,000 mark Friday morning amid worries about the Europe debt crisis, following big losses on Thursday.
Workers took to the streets of Athens today to protest the government budget cuts demanded in exchange for the $140 billion Greece debt bailout. While some feared a repeat of violent May 5 demonstrations, the protest was peaceful.
While the US has continued to press for UN Security Council sanctions on Iran over its nuclear program, Turkey's high-profile role in brokering a nuclear deal with Tehran is just the latest sign of an emerging diplomatic power.
The euro fell to a four-year low on Wednesday amid continued investor worries about Europe's sovereign debt woes. German Chancellor Angela Merkel banned naked short-selling, seeking to combine new regulation with an already announced $1 trillion euro rescue package, to shore up the currency.
The EU-Latin America summit opened in Madrid today without Venezuela's Hugo Chávez, who is protesting the attendance of Honduras President Porfirio Lobo. Mr. Lobo was elected following the controversial ouster of Manuel Zelaya.
A day after Turkey and Brazil announced an Iran nuclear fuel swap, the US says it has secured the support of all five permanent UN Security Council members – including Russia and China – for Iran sanctions.