The debt crisis in Italy has intensified, with spreads on five-year bonds reaching new highs. Several news articles report that the Chinese are about to intervene and buy Italian bonds to ease the situation. Inside sources say, however, that China is actually planning to make commercial investments rather than buy bonds.
Meanwhile, Russia is reportedly negotiating with Cyprus to ease the island’s debt crisis by extending a five-year loan for more than €2 billion. It is hoped that this emergency loan will help the Cypriots get through the immediate crisis.
In other news, the British Home Office has decided against pushing for a new law criminalizing forced marriages. The decision is a disappointment to Muslim women’s rights activists in Lancashire, who fear that more women will be forced into marriages against their will if the new law is not passed.
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