The president of the European Central Bank warned Thursday that the set-up of the European currency is unsustainable. In some of the harshest remarks by a senior European official to date, Mario Draghi criticized the vacuum resulting from the lack of action by European governments.
After watching Greece from afar, many Spaniards feel that they could be next in line for a costly bailout. Spain will have to pay $40 billion in interest this year alone. Unemployment tops 24 percent and is rising.
Tensions continue to grow between the U.S. and Pakistan. In an article in the National Journal, Michael Hirsh writes, "Washington and other capitals continue to watch, helplessly, as a middle-sized developing country defies a superpower and the NATO alliance with virtual impunity."
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