Sovereign-debt problems may have reached a point beyond remedy — short of default or high rates of inflation.
Congress has the sense to not spend the money of an already broke US on foreign governments.
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.
A Malawi court today sentenced a gay couple to 14 years in jail for practicing homosexuality. The case has brought criticism from the US and Europe, which provide more than 40 percent of Malawi's government budget.
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.
Visiting a manufacturing plant in Youngstown, Ohio, President Obama said the $787 billion Recovery Act helped avert a possible depression. Critics – especially Republicans – aren't so sure.
Stocks and the euro fell on Monday, amid continuing worries that a $140 billion bailout for Greece won't stave off a broader eurozone credit crisis. The first politician was ousted in response to the Greek debt crisis.
As NATO gets a strategic overhaul, Western allies must rebuild an international order that protects and promotes prosperity and security in the 21st century.