Europe unveils plan to rescue banks and ease debt crisis
EU leaders agreed to back bank bailouts without burdening governments, reduce borrowing costs for Italy and Spain, and pursue centralized bank regulation. The moves sparked a market rally as Spain’s bond yields fell and European shares surged, though doubts remain about Greece and bailout mechanics.
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Euro Club
Russia and U.S. Split Over Syria Plan Ahead of Conference
In St Petersburg both top diplomats Hillary Clinton and Sergei Lavrov failed to close gaps on Syria as the eve of a multinational conference to back a plan to remove Bashar al Assad from power approaches. Clinton flies to Geneva for Saturday talks, with hope to resolve outstanding differences on the transition.
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Bashar Assad
State Department
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Egypt’s Morsi vows to fight for presidential power
In Cairo thousands cheer as Egypt's Islamist civilian president-elect Mohammed Morsi vows to hold firm on presidential authority. He delivers a defiant oath on the eve of inauguration, signaling a clash with ruling generals who seized powers. He tells supporters that no power above the presidency exists and promises not to yield authority.
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Mohammed __ Morsi
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