The United States Senate voted 67 to 28 to clear the “New Start” arms control treaty for a final vote, so that the treaty is all but certain to be ratified. Eleven Republicans joined with the Democrats to vote in favor of it. Sen. John Kerry hailed the vote as an important step towards drastically reducing the danger of nuclear weapons.
In other news, the Chinese commerce minister says his country is “very concerned” about Europe’s debt crisis. As well it should be — China holds a massive amount of euro-denominated debt. Meanwhile, Citibank says that there will be more bank failures in Europe in the new year, and probably also bailouts for Portugal and Spain.
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