The financial crisis in Europe continues to intensify. Greek bonds have been downgraded to junk status, and the government says that if it does not get aid, it might go down the tubes. Portugal is also headed into trouble: its bonds have been downgraded, and both credit default swaps and yields on bonds have reached levels not seen since the 1990s. Spain’s real estate market has picked up, but Prime Minister Zapatero warns that his country’s unemployment level remains alarmingly high.
In other news, Palestinian Authority president Mahmoud Abbas says that NATO troops could be deployed to guarantee a peace settlement with Israel.
Thanks to Barry Rubin, C. Cantoni, Gaia, Insubria, JD, TB, TV, Vlad Tepes, and all the other tipsters who sent these in.
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