The last of the Habsburgs, former Prince Otto Von Habsburg, has died at the age of 98. He was the son of the last Austrian emperor, Karl I, who succeeded Franz Josef during the Great War. Had he not been assassinated in 1914, Archduke Franz Ferdinand would have succeeded to the throne, but Karl became emperor instead. Prince Otto was seven years old when the family titles were abolished and their estates confiscated.
In other news, even though Greece has surrendered much of its sovereignty to the EU, and despite the passage of its new austerity plan, S&P has issued a warning that the country still faces a risk of default. Analysts are dubious about the Greek government’s ability to pay back the necessary €6.8 billion to its creditors by the end of the year.
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