Eurozone creditors are pulling Greece back from the brink. They’ve unanimously agreed, after a grueling 17-hour discussion, to grant Athens a third bailout to the tune of $96 billion over three years. A Grexit has been avoided, with Prime Minister Alexis Tsipras agreeing to pass “serious” tax and pension reforms by Wednesday, followed by more cuts later this month, to secure the funds. Other EU member parliaments must still approve the new bailout, but news of the deal sent the euro up against the dollar and will likely buoy European markets.
The Presidential Daily Brief
He wants to be the Big Cheese. The Wisconsin governor likes to talk about his state’s best-known export, but he’ll need more than that to get noticed in a crowd of Republican hopefuls. Even before his expected Monday announcement from the reddest county in America’s Dairyland, he’s got legs: One poll shows Walker leading the pack in Iowa, where February caucuses help weed out weak contenders. He’s also got fund-raising clout, with conservative donors warming to his anti-union rhetoric, so he has a chance of catching up to front-runner Donald Trump.
It was a nightmare for those caught up in China’s crazy stock plunge in recent weeks, a 32 percent drop that threw other Asian markets out of whack. But it was nothing compared to the 2008 American stock market crash. In fact, emerging markets are prone to crashes, and China, the world’s second-largest market, is unique in its high levels of individual investors, margin investing and government control. And while some might say Chinese markets are “dead,” consider that Russia saw — and survived — a 31 percent plunge in 2011.
It’s not just Iran. The move toward reducing nuclear weapons has ground to a halt. Vladimir Putin said last month he’ll add 40 intercontinental ballistic missiles to his nation’s arsenal, while the U.S. says Russia violated a 1987 treaty with its test of an intermediate-range missile. Now American officials are contemplating putting that type of missile in Europe, a further setback for arms control. While both countries are still well below limits set after the Soviet Union dissolved, the current trend bodes ill for future nuke-scrapping agreements.
Novak Djokovic beats Roger Federer for men’s Wimbledon title. (BBC)
One million evacuated, super typhoon Chan-hom makes landfall. (SCMP)
Mexican drug lord Joaquin ’El Chapo’ Guzman escapes prison. (AFP)
World leaders extend Iran talks into weekend. (FT) sub
Pope criticizes excesses of capitalism worldwide. (NYT)
While the Indian prime minister is a huge celeb among the diaspora, every rock star needs an advance man. Vijay Jolly, 54, tackles that job with a vengeance. As co-convener of the ruling Bharatiya Janata Party’s foreign cell, he’s been to 82 countries to “collect the hearts” of some 25 million expats, 11 million of whom will be able to vote from abroad for the first time this year. But in a country of 1.25 billion, money matters more than votes, and support from abroad yielded unprecedented influence in last year’s election.
They’re out of control. Users of synthetic cannabis, a new, legally ambiguous drug known as “spike,” can turn so maniacal and violent that they’re endangering ambulance crews. The sometimes deadly drug often comes sprayed on dried plant material and is sold in legitimate stores marked “not for human consumption” to skirt the law. Like crack, it’s become the drug of choice among the poor, and it’s often hard for toxicologists to figure out what they’re dealing with before Chinese chemical suppliers change the formula into something that poses a new threat.
His focus was on “that kid.” Psychologist Ross Greene and his followers are helping children who lash out during class, upend furniture and — experts will tell you — have a good chance of dropping out, committing crimes and ending up behind bars. We’ve seen behavioral fads before, but this one yields results, including schools where disciplinary incidents have dropped by 80 percent and juvenile detention facilities where recidivism has been halved. The secret? Talk to the kids, help them determine the cause of their outburst and come up with safer safety valves.
They were teenagers, it was the ’70s and everyone was high. And Jackie Fuchs, bassist for the iconic band that helped inspire the ’90s feminist “riot grrrl” movement, was immobilized by quaaludes as her producer, cult-rock producer Kim Fowley, allegedly growled like a dog in front of his entourage as he raped the 16-year-old in a Southern California motel room. For decades, she and other witnesses remained silent about the life-altering trauma, but similar accusations against Bill Cosby and Fowley’s death in January gave Fuchs the courage to tell her story.
Marcus Lattimore is being mobbed again. After being surrounded by college football recruiters and fans, he thought his days in the limelight were history last October when he quietly left the San Francisco 49ers. The toast of the NCAA and NFL realized that his gruesomely injured knee and the pain he’d hidden meant his career as a running back had ended before playing a single down. Now he’s back in his native South Carolina, busy with football camp, a charity and a new job as ambassador for his alma mater, sharing smiles he doesn’t have to fake.