Italy, Spain, France, and Belgium have banned “short-selling” to try to limit some of the volatility in their stock markets, and to help ease the current crisis. Meanwhile, the Italian government is planning an austerity program that will include tax increases and massive spending cuts. The Italian cabinet held an emergency meeting to discuss the debt crisis.
In other news, Egypt sent special forces into Sinai to suppress the activity of lawless armed groups there. Some of the armed bands are said to be Islamic fundamentalist militias.
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