Good morning. Here’s the news:1. The Taliban yesterday detonated a powerful truck bomb at a major military base in eastern Afghanistan near Kabul, killing five Afghan civilians and injuring 77 American troops. The blast was timed to coincide with the 10th anniversary of 9/11.
2. Anti-American Shiite cleric Muqtada al-Sadr told his militias to halt attacks against U.S. forces in Iraq. The cleric does not want the withdrawal of US forces from Iraq slowed down for any reason.
3. Reuters reports: “World shares tumbled nearly 2 per cent on Monday with European equities at 26-month lows, down more than 20 per cent this year, as investors worried Greece would default amid signs of rifts among euro zone policymakers.”
4. The Wall Street Journal reports: “French bank shares plunged Monday on expectations that Moody’s Investors Service Inc. could downgrade them this week, adding to worries about a deepening euro-zone crisis that have hammered the country’s financial sector in the last month.”
5, There are two possible solutions to the crisis of the eurozone: (1) a common eurozone bond, and (2) the monetization of eurozone debt through the ECB. Wolfgang Munchau this week explains why the euro-bond will never happen. Next week he promises to explain why ECB monetization won’t happen either.
6. President Barack Obama will send his $447 billion jobs bill, the American Jobs Act, to Congress Monday night, a White House official said.
7. The New York Times reported yesterday: “Democrats are expressing growing alarm about President Obama’s re-election prospects and, in interviews, are openly acknowledging anxiety about the White House’s ability to strengthen the president’s standing over the next 14 months.”
8. Texas Gov. Rick Perry continues to poll very well among Republican primary voters nationally. Two new polls show him with a wide lead over former Massachusetts Governor Mitt Romney.
9. CNN will broadcast the “Tea Party Republican Debate,” live from Tampa, Florida at 8 p.m. this evening.
10. Whatever else he has done, Rick Perry has made the office of Governor of Texas a powerful political platform. Texas historically has had a “weak” governorship.
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