1. DEBT CRISIS

    Italy, Spain Block Euro Stimulus

    AP Photo (2)

    It's been a rough couple of months in Europe as the continent's leaders struggle to head off a mounting debt crisis and keep the economy chugging along. The latest development: Italy and Spain—two countries under crushing pressure to bring down their borrowing costs— have blocked an agreement to spend $120 billion euros aimed at promoting growth. The two countries are demanding that Germany approve a short-term measure that would bring down interest rates on their debt.

    Read it at Reuters