Protests have re-emerged in Spain, as the austerity policies imposed on the country continue to depress economic growth. Spain had a credit bubble (largely in the housing market) that was roughly comparable to those experienced by other countries in the early 2000s. The austerity policies are designed to depress the costs of production in the country so that it can reduce its dependence on debt. Unfortunately, the policies have also led to extremely high rates of unemployment and vastly reduced economic growth.
Turkey has shot down a Syrian military jet it claimed had violated its airspace. Turkey and Syria share about 500 miles of common borders, and Turkey has been explicit about its desire to see Syrian President Assad removed from office. There have been several cross-border incidents between the two countries, but this represents a rather dramatic escalation of violence. Alternatively, it could just suggest a desire on the part of Turkish Prime Minister Erdogan to divert attention from the corruption scandals swirling around his government.
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