Spain's PM Mariano Rajoy gestures during the XXVIII Meeting of the 'Economic Circle' in Sitges, near Barcelona, June 2, 2012. Photo / Reuters, Gustau Nacarino
Spain, the latest combat zone in Europe's long-running debt wars, urged the euro zone to set up a new fiscal authority to manage the bloc's finances and send a clear signal to markets that the single currency project is irreversible. Germany and others insist such a move can only happen as part of a drive to much closer fiscal union and relinquishing of national sovereignty.
Establishing a new authority could require a change in the EU treaties, a usually lengthy and politically painful process which requires ratification in all 27 member states of the bloc.
Unemployment across the 17 countries that use the euro stayed at 11 percent in April — the highest level since the single currency was introduced back in 1999, piling further pressure on the region's leaders to switch from austerity to focus on stimulating growth.
Iranian Brigadier-General Yahya Rahim Safavi Photo / France 24
Iranian Brigadier-General Yahya Rahim Safavi has warned the United States not to resort to military action against it, saying U.S. bases in the region were vulnerable to the Islamic Republic's missiles, state media reported on Saturday.
Iranian technicians at the Bushehr nuclear power plant where the Stuxnet virus affected plant activity, November 2010. Photo credit: AP
The United States under former President George W. Bush began building a complex cyber-weapon to try to prevent Tehran from completing suspected nuclear weapons work without resorting to risky military strikes against Iranian facilities, current and former U.S. officials familiar with the program said.
Barack Obama accelerated the efforts after succeeding Bush in 2009, according to the sources who spoke on condition of anonymity because of the classified nature of the effort. The weapon, called Stuxnet, was eventually used against Iran's main uranium enrichment facilities.
The Flame virus represents an escalation in cyber warfare and industrial espionage. In its essence, it is a mutation of the Stuxnet virus that damaged computer systems used in the Iranian nuclear program.
Bible prophecy, encouragement and our commitment to the Lord ... America’s moral collapse accelerated by the courts and by a political party in Congress ... Insight from a long-time Obama friend: He knows a great deal about Islam and knows little about Christianity ... Comprehensive assessment on Israel’s northern border concerns: "The risk to Israel is taking shape. The challenge we are facing is a huge one." ... Netanyahu: The issue of settlements would be solved automatically once there are agreed-upon borders
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