Spain Economic Crisis : Spain to Spend Billions on Bank Rescue

European horror still on progress, from Athens we reported, Greece braces for a repeat of elections
Failure of two main pro-bailout parties to win a majority compounds a deteriorating economic situation as the government prepares to leave office

Meanwhile from Madrid we reported, Spain to spend billions on bank rescue, Spain working on bail-out for Bankia, the country's third-largest lender, as executive chairman Rodrigo Rato announces his resignation

From Germany we reported, Berlin prepares for pragmatic partnership, The advent of François Hollande may prove to be more of a blessing than a curse for the chancellor by giving her growth leverage at the polls

Another stories from American militer, US disrupts aircraft bomb plot
American intelligence disrupted a terrorist plot by al-Qaeda in Yemen involving a bomb device without any metallic parts to be carried on a US-bound jet

Meanwhile from Teheran we reported, finally Iran accepts renminbi for crude oil, Move comes partly as a consequence of US sanctions and Tehran is spending the currency on goods and services imported from China