World

Reuters

A man walks though a burnt Rohingya village during fighting between Buddhist Rakhine and Muslim Rohingya communities in Sittwe June 10, 2012. Northwest Myanmar was tense on Monday after sectarian violence engulfed its largest city at the weekend, with Reuters witnessing rival mobs of Muslims and Buddhists torching houses and police firing into the air to disperse crowds. Picture taken June 10, 2012.

BAILED OUT

1 | SPAIN

Authorities in the euro zone's fourth largest economy have repeatedly denied they would ever take a bailout. No more: on June 9 the Spanish government tentatively agreed to accept roughly 100 billion euros ($125 billion) in assistance from European Union emergency funds. Prime Minister Mariano Rajoy quickly spun the intervention as assistance to Spanish banks, not a bailout of the government's debt, something that could scare off private investment and lead to new euro-regulated restrictions. But after a brief rally in response to the loan package, investors are starting to question the mechanics of the loan--which...

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