Europe
Greece, Portugal and Ireland have already needed bailouts from other countries in the European Union, and Italy is projected to reach the same level as those nations. Italy has the eight largest economy in the world, and would severely destabilize the world economy if they were to default on their debt. On top of this, Italy also has the world’s third largest debt market, at 1.9 trillion euros or about 2.6 trillion U.S. dollars. This number is considered to be too large to bail out, and could be a major problem for the union. As Italy is one of the six main economies in the European Union, if their economy collapses, it could severely destabilize the relationships between European nations.

Africa
After almost 42 years in power, Libya’s Muammar Gaddafi was overthrown by rebels. On Jul. 15, over 50 governments recognized The National Transitional Council as the legitimate government of Libya. The protests started on Feb. 17, and grew every day until the country was thrown into chaos. These protests escalated to The Battle of Tripoli, in which Gaddafi officially lost control of Libya’s capital city. Finally, on Oct. 20, Gaddafi was captured and killed by rebels near his hometown of Sirte. The National Transitional Council has listed “facilitating the electionof a constituent assembly to draft a new constitution for the country” as one of its main goals as of now.

South America
On Nov. 10, Police in Rio de Janeiro captured their most wanted drug lord, Antonio Bonfim Lopes. Lopes is the leader of a major drug gang that hails from Rocinha, a large slum that is home to over 100,000 people. The Rocinha neighborhood is believed to be the largest drug distribution area in the city. Leaders in Rio say that Lopes’ capture is a large step in preparing for the 2016 Olympics that are to be held there. The city is planning a large anti-drug program, in which they plan to remove drug gangs from the area in preparation for the sporting event.

Middle East
The United Nations Security Council is currently deciding on whether to give Palestine U.N. membership. In order to become a member nation of the United Nations, Palestine needs to get nine votes with no vetoes in the Security Council, and then must be approved by the 193 nation General Assembly. They currently have secured eight votes in the Security Council, but the United States has promised to veto Palestine’s request even if they do receive the required amount of votes. Palestine is attempting to join the U.N. in response to the failed peace talks that have been conducted this year with Israel. Palestinian leaders say it is time to try a different approach since the peace talks have been getting nowhere.

Asia
Floods in Thailand have covered about six million hectares (about 23,000 square miles) of land, caused 506 deaths, affected over 2.3 million people and has caused about $5.1 billion in damage. The floods were caused by the monsoon season and usually happen every year on a smaller scale. Flood waters currently have not reached the capital city of Bangkok, but the consequences would be severe if the city were to flood. The floods reached several important industrial complexes in Thailand and have caused some companies an extreme loss in revenue. For example, Toyota, which has several plants in Thailand, is expected to have lost over $2.5 billion in profit from the floods.

Australia
Legislation has passed in Australia requiring all cigarettes to be packaged in plain olive-green packaging. According to several studies, olive-green is the least appealing color to smokers. The legislation prohibits any brand logos on packages of cigarettes, instead the companies are allowed to print their name in a small, pre-chosen font. Health warnings will cover about 75 percent of the front of the package and 90 percent of the back. Several large tobacco companies have said they will pursue legal action against the law, but the Australian government has said they are prepared to handle the case. Several countries such as New Zealand, Great Britain and Canada are also considering similar legislation.

Harry Hutter is the Advertising Editor for The Spartan Speaks.