Eurozone finance ministers agreed at a meeting in Copenhagen on Friday to increase the bailout lending limit to 700 billion euros ($930 billion), a move aimed at reassuring financial markets wary of a Eurozone default and dampening the crippling debt crisis of the past few years. It was decided to temporarily lift the combined ceiling of the two rescue funds, the European Stability Mechanism (ESM) and European Financial Stability Facility (EFSF) from the current level of 500 billion euros ($670 billion)
The White House determined that the world's oil supply is healthy enough that the sanctions, which will take effect in June, won't significantly impact world markets or American consumers. “There is a sufficient supply of petroleum and petroleum products from countries other than Iran to permit a significant reduction in the volume of petroleum and petroleum products purchased from Iran by or through foreign financial institutions," Obama said in a memorandum on Friday. "I will closely monitor this situation to assure that the market can continue to accommodate a reduction in purchases of petroleum and petroleum products from Iran." Like us on Facebook Obama obtained the authority to impose sanctions through the National Defense Authorization Act, Fox News reported.
A Supreme Court battle between an Amish man who refused to put a triangle on his buggy and Kentucky police is a flashpoint in a case over whether religious freedom trumps safety concerns, Steve Eder reports on the News Hub.