I can’t resist. Jon Stewart is brilliant.
http://thedailyshow.cc.com/?xrs=share_copy_email
Argentina is in a desperate financial situation. It owes a hedge fund $1.5 billion which a US court has ruled is a legitimate debt. But it has already reached agreement with other bondholders of the debt to pay only a fraction of the original debt. If Argentina obeys the US court and pays the full debt to the hedge fund, then it is likely that the other debt holders will demand full payment as well. Full payment of the entire debt will use up almost half of Argentina’s current foreign currency reserves, a reduction that would probably trigger panic for everyone to whom Argentina has a financial commitment. Argentina must decide by 20 July, and there are few decisions it can make that will not harm its economy, and perhaps rattle global debt markets.
Ukraine has signed the agreement with the European Union that was at the center of the turmoil in Ukraine earlier in the year. The agreement is a free trade pact that triggered off sharp opposition from Russia. The agreement is a victory for pro-Western forces in the country, but Russia signaled its displeasure almost immediately. The EU also signed similar agreements with Georgia and Moldova, also states that were once part of the former Soviet Union.
World Politics News 
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