Italy's new Prime Minister Mario Monti has chosen a government and is hoping to win votes of confidence in it from both houses of Parliament. Despite his best efforts to forge ahead, investors remain skeptical. Monti also said he hopes Italy can contribute to the changes being made to the European financial system.

As President Obama meets with world leaders on the Indonesian island of Bali, the U.S. is proclaiming a strategic "pivot" towards Asia. Asian nations appear split as to whether increased American involvement in the region will lead to more stability or conflict.

Economist Nicolas Veron talks to Renee Montagne on why such a strong economic power like Germany would be motivated to be part of the European Union and the eurozone, which has economically weak members such as Greece and Spain. Denmark and the United Kingdom are both part of the EU, but opted out of using the euro.

Virtually all of Egypt's post-revolutionary political parties are planning major demonstrations in Cairo and other cities Friday. It amounts to a test of wills with the ruling military council over the direction of the country. At issue is a document from the generals aimed at guiding the drafting of a new constitution. Critics call it an attempt to enshrine military rule.

Over the past few months, militants have vandalized several Arab sites in the coastal Israeli city of Jaffa. For years, Jews and Arabs coexisted there in relative peace. Now, locals say racist sentiment is on the rise, as settler groups focus on Palestinian populations inside Israel.