Here are the Top 5 stories that caught our eyes this week!
1. Greece Financial Crisis Part 2: What Has Changed
- What You Need to Know: This is still the top story of the week because this is still a huge deal. Banks in Greece have been closed for eight days now and although they are supposed to reopen tomorrow (7/9), it doesn’t look like that will necessarily happen as planned. What is most concerning is that ATMs (where people are allowed to draw out €60 a day) are running out of money. This could spell major trouble if the banks are going to remained closed tomorrow. On Sunday, all 28 European Union members met in an emergency summit in an attempt to hash out the Greece Crisis. Prime Minister Alexis Tsipras spoke to the members, pleading for a bailout. At time of publication, Greece Finance Minister Euclid Tsakalotos had issued a letter stating that in exchange for a bailout, tax and pension reforms would be implemented. This is something that creditors have been wanting for a while, but the Greek Government has been wary to do. For more information on this story, visit: http://www.bbc.com/news/live/world-europe-33443066.
- Why You Need to Know This: This looks like it could continue to drag on until next week, so expect to see this story again. This is a huge deal. If Greece drops out of the Euro, it could spell trouble for the E.U., as Great Britain has hinted that it might also drop out of the E.U. all together. Tomorrow (7/9) is the deadline for Greece to submit its newest proposal for bailout. The payment of €3 billon is due to the E.U. on July 20th.
- Office Top Tip: If you are planning on traveling to Greece, bring some euros with you. But don’t advertise that you have a lot of money on hand. Be safe!!
2. Women’s Soccer Team Wins World Cup
What You Need to Know: The U.S. Women’s Soccer Team took home the Gold in the World Cup Championship match over the weekend. This marks the 3rd time that the Women have won the gold, but the first time since 1999. Carli Lloyd was undoubtedly the star of the game; she scored three goals, called a hat trick, in the first 16 minutes of the game. She is the only player to have done this in the history of the Women’s World Cup. The U.S. defeated Japan 5-2. For more information on this story, visit http://www.bbc.com/news/world-us-canada-33437493 and http://www.cnn.com/2015/07/05/football/womens-world-cup-final/index.html.
- Why You Need to Know This: Soccer is huge everywhere. The U.S. really only pays attention around World Cup time. But this is definitely something that people will be talking about and for sure these women are going to go down as legends.
- Office Top Tip: Watch some of the highlights from the game. Or even better yet, watch the actual game. Soccer is an amazing sport and you might get hooked!
3. Pope Francis in Ecuador
- What You Need to Know: Catholic Pope Francis is on a three-country tour in Latin America. Going from Ecuador to Bolivia and finally to Paraguay, this is the Argentinean Pope’s 2nd trip to the region. Hundreds of thousands of people spent the night at Bicentennial Park in Quito, the capital city of Ecuador. Pope Francis gave masses in Guayaquil and Quinto. He is flying to Bolivia today (7/8). For more information on this story, visit http://www.bbc.com/news/world-latin-america-33433375.
- Why You Need to Know This: Pope Francis is the first Catholic Pope from the South American region. He is radically changing the face of Catholicism and is being lauded across the globe. One of the biggest things he’s done is to help Cuba and the U.S. restore ties with one another. He will be making a trip to Cuba in September and then come to the U.S.
- Office Top Tip: If you have a chance, you should see this Pope. When he is in Vatican City, located in the middle of Rome, Italy, he often gives a weekly mass. It is something to behold.
4. China Stock Market Falls
- What You Need to Know: The Chinese government is in a scramble to stop it’s stock market from falling. Since June 12, the Shanghai Composite has lost 32%. Over the past 3 weeks, the market has been teeter-tottering between growth and loss. The banks have been cutting interest rates as low as possible, while brokerage firms are buying billions of stocks. Because China doesn’t have a lot of foreign companies invested in its stock market, there hasn’t been much affect in the global world. Right now it’s the Chinese who are hurting. For more information on this story, visit http://www.cnn.com/2015/07/08/asia/china-stocks-explainer/index.html.
- Why You Need to Know This: China is one of the most rapidly advancing countries in the world. It is important to watch how this stock market fall will affect them as a country. Because they aren’t big on having foreign investors in their market place, the rest of the world doesn’t have as much at stake here. This is completely unrelated to the Greece Crisis and isn’t even in the same league at what’s happening there.
- Office Top Tip: If you’re thinking about heading over to China, its imperative that you keep an eye on this situation. With it being the 3rd week of this downfall, it is uncertain how long this will continue.
5. First Ever Cruise to Cuba
- What You Need to Know: With the relationship between Cuba and the U.S. coming to a historic turnaround for the positive, Carnival Corp announced that they plan on offering trips from Miami to Cuba in the next year. Carnival Corp already has approval from the U.S. government and is awaiting the Cuban government’s okay. This cruise is only for humanitarian visits or to visit relatives. For more information on this story, visit http://www.bbc.com/news/world-latin-america-33437671.
- Why You Need to Know This: Cuba and the U.S. have had a tense relationship since the Cold War. This new relationship that is blossoming could have amazing effects here and in Cuba. With Carnival Corp announcing this cruise, it shows how this new relationship is already having a positive effect around the world.
- Office Top Tip: Cuba could be one of the countries on our map in the near future! We will have to keep a close eye out to see what happens next!
Check back next week for more news so you can Know Before You Go!
All stories are based off of information gathered from CNN, the New York Times, The Guardian, The BBC, and the Telegraph.