The EU bailout of Spanish banks has had a ripple effect in Italy, where the stock market dropped and the bond spread rose. Markets are also nervous in Asia and the USA, due to concerns that the Eurozone may collapse. IMF head Christine Lagarde warns that the EU has less than three months to save the euro.
In other news, twenty churches in Aceh Province in Indonesia were forced to close after violating government building regulations, and will almost certainly be demolished.
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