Italy is not out of the woods yet. A new austerity bill has been passed by the Italian Senate, but still has to make its way through the Chamber of Deputies. Meanwhile, financial panic is beginning in France, whose banks have major exposure to Italian and Greek debt. Britain is preparing contingency plans for an “economic Armageddon” in the event that the euro collapses.
In other news, drug dealers in an Al Qaeda-controlled area of Yemen are being publicly whipped for selling hallucinogens named after prominent Arab leaders, such as Muammar Ghadafi or Bashar al-Assad.
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