On Jan. 16, the news syndicate Breitbart reported that the U.S. embassy in Geneva has been conducting illegal surveillance on Swiss territory. In 2006 and 2007 U.S. missions in Geneva and Bern had requested protection of their buildings through surveillance programs, but the requests were denied.
Condemned by U.S. officials as dangerous and by Republican leader Sarah Palin as "anti-American," Wikileaks has facilitated the destruction of Tunisia's tyrannical state with the whistleblower website's release of classified information about rampant corruption in the north African government. The 23-year reign of corrupt President Zine el-Abidine Ben Ali ended January 15, when Ben Ali and his family fled to Saudi Arabia.
In defiance of all logic, the eurozone weathered a week of harrowing instability this past week, with Portugal, Spain, and Italy managing to persuade the bond markets that their sovereign debt is still worth the risk. Portugal was the primary focus of concern in this latest iteration of European economic upheaval, with speculation rife that the Iberian nation would be forced to accept an international bailout along the lines of what Greece and Ireland have already received. The Portuguese government spent the week leading up to last Wednesday’s successful auction of government bonds denying that Portugal needed outside assistance to solve its debt problem, and Wednesday’s results appeared to vindicate those claims.
Banks in China allow American customers to buy and to hold Chinese yuan. A state-owned Chinese bank in New York has begun to offer its customers accounts denominated in yuan, a move calculated to expand the global reach of their currency. Daniel Hui, a foreign exchange analyst for the HSBC Bank in Hong Kong, explains that the Chinese government is “trying to expand the scope of people who can hold renminbi [yuan] and that increases demand.” Most economists believe it will take years before the yuan is an international currency on the same level as the dollar, the euro, or the yen.