Egypt has a new president-elect. It's Mohamed Morsi, whose political party, the Muslim Brotherhood, was banned while former President Hosni Mubarak was in office.
With consumer demand still sluggish in the U.S. and Europe, China is looking elsewhere for new customers to places like Brazil. In fact, this week China and Brazil agreed to a landmark deal that avoids using the U.S. dollar.
The U.S. Federal Reserve says it will continue holding interest rates down the rest of the year through its "Operation Twist" — swapping short-term securities for long-term ones. But the economic crisis is global, and ours is not the only central bank that's worried about stoking economic growth.
The U.S. and Europe are focused on diplomacy and sanctions to stem violence in Syria — and perhaps force the current regime from power. One problem is Russia's alleged supply of arms to the government there. But Western diplomats have discovered a vulnerability: every weapons-carrying ship has to carry insurance.
The Greek election result has so far brought modest relief to financial markets around the world. A victory by the New Democracy party suggests Greece is not headed for a quick and messy exit from the euro.
Voters in France this weekend gave President Francois Hollande's Socialists a solid majority in the lower house of parliament, complementing their majority in the upper house and thus, complete legislative power in the government.
Wounded banks in Spain will now be able to draw up to $125 billion in money from the EU. Spanish Prime Minister Mariano Rajoy credited government reforms with limiting the scope of the financial crisis to the banking system.
European leaders agreed to bail out Spain's banks to the tune of $125 billion over the weekend. Spanish banks were hemorrhaging cash ahead of this weekend's crucial election in Greece — that could lead to a Greek exit from the euro.
