Europe
Markets rattled by more speculation over Spain’s regional debts
Heavily indebted regional governments in Spain are at the centre of fears that they will push the national government into seeking a bailout for the whole country, with markets across Europe falling by an average of 1.5%. Valencia, one of Spain’s 17 regions, asked the national government for financial assistance on Friday. The yield on Spain’s 10-year bonds jumped to 7.55% – 7% is seen as the point beyond which a bailout is necessary. Spain has already been granted a €100bn bailout for its banks, but has avoided asking for funding to plug its national debt, as did Greece.
North America
US cuts military aid to Rwanda over support for Congan rebels
America has cut military funding worth $200,000 to Rwanda following accusations its government is backing rebels in the neighbouring Democratic Republic of Congo. Rwanda has rejected the accusations, made in reports by the UN and rights groups. The US state department says the funding will be reallocated to other countries.
Central and South America
Mexico: new protests at Pena Nieto election victory
Thousands of protesters have been marching through Mexico City against the official result of this month’s presidential election. The march was organised by a new student movement, “Yo soy 132” (I am 132), which accuses the election’s official winner, Enrique Pena Nieto, of buying votes and arranging biased television coverage. Supporters of the left-wing Presidential candidate Andres Manuel Lopez Obrador, the runner-up in the election who also disputes the result, have joined the movement. Mr Pena Nieto’s party had been in power in Mexico for 71 years before being ousted in 2000, and due to its failure to win a majority in congress will probably need support from rival parties to enact key policy reforms. Mr Pena Nieto is due to be sworn in on 1 December. He denies all accusations against him.
Russia and Asia
China to establish military garrison on disputed South China Sea islands
The Chinese government has approved the establishment of a formal military garrison in Sansha city on Woody Island in the Paracels. Yesterday, 45 legislators were also named to the congress of Sansha city, which was founded in June to govern the area. The moves come amid heightened tensions between China and its neighbours over conflicting ownership claims to several groups of islands in the South China Sea. Both Vietnam and Taiwan claim the Paracel islands, which have been under Chinese control since a 1974 battle with Vietnam. The Spratly Islands and the Scarborough Shoal, also in the region, are also disputed.
Middle East and Africa
Arab League: Syria’s President should go
Foreign ministers from the Arab League have called on Syrian President Bashar al-Assad to step down, and for the Syrian opposition to form a transitional government. The messages come after an emergency meeting in Qatar, held in response to last week’s suicide bombing at Syria’s National Defence Bureau. Fighting continues to rage in Damascus, where Government forces have been staging a counterattack after recent gains by the rebels, and has now been reported in Aleppo, Syria’s second city. Rebel fighters told the BBC that they were encouraged by last week’s bombing, in which four top Syrian officials were killed.
82 dead in new Iraq violence
A new wave of bomb attacks and shootings in Baghdad and the country north of the capital has killed at least 82 people and wounded 144, according to security and medical officials. Security forces appear to have been targeted and are numerous among the dead. Taji, a Sunni neighbourhood about 12 miles north of the capital, was badly hit, while car bombings rocked Baghdad and the oil city of Kirkuk.
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