...and Merkel is smarter than Hitler. Both have learned from historical necessity.

Europe won't capitulate to this template for democratically justified default in Italy and Spain.

A blow to confidence, but Chinese stocks are now valued about the same as US stocks.

Prisoners dilemma solved. Greece punished. Varoufakis humiliated. Message sent to Spain.

Iran could pump 5 million barrels per day by 2020. But a growing stream, not a violent flood.