According to the latest news reports, Chinese banks are on the verge of collapse. Although the banking system in China has substantial earnings, it holds so much bad debt that it puts the entire system at risk. Analysts fear that the situation in the banking sector may drag China’s growth rate down to zero.
In other news, the European Union is considering dropping the requirement that Turkish citizens obtain visas before entering its member states’ territories.
Meanwhile, actor Sean Penn joined the demonstrators in Tahrir Square in Cairo to protest the actions of Egypt’s military government.
To see the headlines and the articles, open the full news post.
Commenters are advised to leave their comments at this post (rather than with the news articles) so that they are more easily accessible.
Caveat: Articles in the news feed are posted “as is”. Gates of Vienna cannot vouch for the authenticity or accuracy of the contents of any individual item posted here. We check each entry to make sure it is relatively interesting, not patently offensive, and at least superficially plausible. The link to the original is included with each item’s title. Further research and verification are left to the reader.