Europe
Spain formally requests bailout
Spanish Economy Minister Luis de Guindos has asked for up to €100 billion in rescue loans to recapitalise its banking sector today as the euro and stock markets fell amid investor scepticism about this week’s EU summit. The rescue is designed to help Spanish lenders recover from a burst housing bubble and a recession. Two independent audits last week estimated Spanish banks’ capital needs at up to €62 billion – a full audit is expected in September.
Alistair Darling launches Unionist campaign
Former British chancellor Alistair Darling has today launched the campaign to keep the Union of the United Kingdom, saying there will be “no way back” from Scottish independence. He argued Scotland could have the “best of both worlds” with a meaningful parliament at Holyrood and an influential presence in the United Kingdom. A referendum on Scottish independence is being planned by the Scottish National Party (SNP), in power in the Scottish parliament, for 2014. The SNP campaign for independence – Yes Scotland – was launched last month.
North America
Americans oppose Obamacare but support its provisions
With the Supreme Court set to rule at any time this week on whether President Barack Obama’s healthcare reforms should stand, an online Reuters/Ipsos poll has found that most Americans oppose the laws but strongly support most of their provisions. Fifty-six percent of voters oppose the reforms, with 44 percent in favour, yet a different picture emerges when individual provisions are considered: 82 percent favour preventing insurance companies from denying coverage to people with pre-existing conditions; 61 percent favour allowing children to stay on parents’ insurance until age 26; and 72 percent favour requiring companies with more than 50 employees to provide insurance for them. An exception is the “individual mandate” that requires most US residents to have health insurance, with 61 percent of Americans against. It is the individual mandate that has come to define the reforms; Republicans insist it is unconstitutional – this is the matter upon which the Supreme Court will rule.
Latin America
Lugo calls impeachment a “coup”
Fernando Lugo, Paraguay’s former president who was impeached and removed from office on Friday, made a surprise morning television appearance in Asuncion to denounce the events as a “parliamentary coup” and promise he would join those urging a “peaceful strike”. After a near-unanimous decision in the lower chamber to begin impeachment proceedings, the country’s Senate voted 39-4 to remove Mr Lugo over his handling of forced evictions last week that escalated into violence and left at least 17 dead. The state-funded public television channel had drawn comments from many people angry at the impeachment, which had also caused the withdrawal of ambassadors by neighbouring countries. Mr Lugo referred to these as he accused the new government under Federico Franco of “isolating the country”.
Asia and Russia
Planner of 2008 Mumbai attacks arrested
Police in Delhi claim to have arrested a key figure in the planning of 2008’s deadly attacks in Mumbai, in which 165 people died. Abu Jindal, aka Syed Zabiuddin, is described as the “handler” of the 10 gunmen who carried out the attacks, and is being held by police. Nine of the gunmen died, with the tenth convicted of murder and waging war on India in May 2010 and given the death penalty.
China 2012 growth target at risk
China is at risk of missing its 2012 annual growth target amid faltering domestic demand and the worsening debt crisis in Europe, adding drama to a once-in-a-decade leadership transition. China’s ability to offset weakening demand in Europe and the USA could be reduced as Beijing’s property tightening measures dilute the impact of any policy stimuli. Premier Wen Jiabao cut the 2012 growth target to 7.5 percent in March – this would be the lowest since 1990.
Africa and Middle East
Government forms in Egypt
Mohammed Mursi of the Muslim Brotherhood, Egypt’s first ever democratically elected president, is to start forming a government. Questions remain, however, over the extent of his power; the military council that has ruled the country since the revolutions last year that sparked the Arab Spring, has dissolved the parliament and taken many of the president’s powers. Mr Mursi, whose first jobs will be to choose a prime minister and focus on building a civilian administration, could be sworn in on Friday.
Suspect held in Mombasa bar attack
Three people are dead after a grenade was thrown into a Kenyan bar during a Euro 2012 football match, with at least 25 still in hospital with injuries. One of these is being held as a suspect due to offering contradictory statements, according to local police chief Aggrey Adoli.
Australasia
Australia asylum debate reignited
A boat carrying 200 asylum seekers has sunk in Indonesian waters near Christmas Island last week, reigniting debate over Australia’s domestic immigration policy. The Labour Party government has called again for a refugee swap arrangement with Malaysia to deter people smuggling, while the Liberal Party opposition is demanding that an immigration detention centre on the Pacific island Nauru be reopened.
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