According to the latest news reports, Chinese banks are on the verge of collapse. Although the banking system in China has substantial earnings, it holds so much bad debt that it puts the entire system at risk. Analysts fear that the situation in the banking sector may drag China’s growth rate down to zero.
In other news, the European Union is considering dropping the requirement that Turkish citizens obtain visas before entering its member states’ territories.
Meanwhile, actor Sean Penn joined the demonstrators in Tahrir Square in Cairo to protest the actions of Egypt’s military government.
To see the headlines and the articles, open the full news post.
Thanks to C. Cantoni, Erick Stakelbeck, Gaia, Insubria, JP, KGS, Nilk, Rembrandt, TG, Vlad Tepes, and all the other tipsters who sent these in.
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