Attempt to stabilize the European market.

European Union finance ministers have gathered in a summit held in Brussels as an attempt to forge a system that could expand the bloc’s power in aiding any troubled members away from going bankruptcy. This urgent meeting attended by officials of 27 E.U. members is expected to end up with a final agreement to establishing a so-called European stabilization mechanism as the bloc’s market has been suffering significantly right after the eruption of Greece debt crisis. Mr. Nicolas Sarkozy , France President, and Mrs. Merkel are calling for stricter sanctions against countries breaking any rules that protect the stability of the euro even though France and Germany have broken those rules but without serious consequences. Meanwhile, Britain and other countries that don’t support the euro show no signs in doing so but unclearly agreed to “pledge their assets” to help stabilize the market. Finally, it is still murky whether or not there is an achievement of establishing a stabilization mechanism.

Submitted by Yen Do.

AFRICAN UNION SLAPS SANCTIONS ON GUINEA JUNTA

Leaders of African States have imposed a barrage of new sanctions on the military rulers in Guinea due to the massacre on many supporters of the opposition. The head of states that are part of the African Union Peace and Security Council decided that it was necessary to take such actions such as denying visas, travel restrictions, and the freezing of assets. A list of of those that are going to targeted by the sanctions will be sent to the Arab League, Organisation of Islamic Conference and a group of French-speaking nations in order to give the issue a global perspective. The EU has also placed an arms embargo on members of the junta.

By: Aminat T. Odunewu