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|A week in review - 06/27/12|
Election results: Mohamed Morsi was declared the new president of Egypt in the country’s first democratic presidential election ever. Morsi from the Muslim Brotherhood obtained 52 percent of the vote over Ahmed Shafik’s 48 percent.
Financial crisis in Europe: Cyprus announced on Monday that is would seek financial assistance from the Eurozone. Cyprus cites its close proximity to Greece and its investment in Greek bonds for its financial woes. Spain also announced on Monday that it would seek a bailout package from the Eurozone to help alleviate its collapsing banking system. Greece’s Finance Minister Vasilious Rapanos has resigned from his post. The cause of his resignation is unknown however, he was rushed to the hospital last week. The European Union will hold a summit this week to discuss the financial crisis many member countries are experiencing.
In Latin America
Impeached: Paraguay’s Senate impeached President Fernando Lugo. He condemned his removal from office. Argentina, Brazil, Chile, Uruguay and Venezuela removed their ambassadors from Paraguay. Vice President Federico Franco was sworn in as president.
In North America
Guilty verdict: Jerry Sandusky was found guilty of child sex abuse. The former Penn State assistant football coach was found guilty of 45 out of 48 counts last Friday. His lawyers will appeal the conviction.
Contempt?: The U.S. House of Representatives will vote this week if U.S. Attorney General Eric Holder is in contempt of Congress. Holder refused to turn in all documentation pertaining to an investigation on Operation Fast and Furious.
Commerce secretary resigns: John Bryson resigned as commerce secretary last week after suffering seizures that lead to his involvement in a couple of car accidents. Bryson cited his health in his resignation. Rebecca Blank is acting commerce secretary.
Fires: There are ten fires burning in Colorado. The High Park Fire is the worst fire in Colorado’s history burning more than 83,000 acres and destroying almost 250 structures. The fire is only 45 percent contained. Thousands of Colorado residents from across the state have had to evacuate their homes. Tourists have also been affected by the fires, which have forced them to evacuate from their hotel and cancel their summer plans.
In the Middle East
Olympics: Saudi Arabia announced it would allow women to compete in this year’s Olympics — a first in history. The Saudi Arabia Olympic Committee will oversee the inclusion of female athletes who qualify to compete at the Olympics in London.
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