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.
The Greek debt crisis, which has sent bonds tumbling across southern Europe, has had a knock-on effect on stock markets in Asia. But one analyst says Asian banks and governments have limited exposure to Greek debt, so should weather the storm relatively unscathed.
South Koreans watch a live TV broadcast of South Korean climber Oh Eun-sun reaching the summit of Annapurna in Nepal on Tuesday. Oh made history in the Himalayas by becoming the first woman to scale the world's 14 highest mountains, beating out a Spanish rival for the record.
Greek Prime Minister George Papandreou called his country a "sinking ship" as he requested a $56 billion bailout today. But Germany, which is key to any aid package, still isn't convinced that a Greece bailout is absolutely necessary.
Germany may be in trouble for trying to help Greece work through its debt restructuring. Worst case scenario? Germany may be ousted from the Euro.
Pope Benedict XVI said it's 'necessary to perform penance' in response to public outrage at revelations of sexual abuse by Catholic priests. But some analysts say those hoping for change are up against a deeply conservative hierarchy.
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