The news keeps getting worse for Spain. This week came word that the country has fallen back into recession. Meanwhile, Spain's unemployment rate is the highest in Europe. Investors are once again fleeing the country and interest rates on government debt are climbing.
The numbers coming out of Spain these days are stark. The economy contracted at a 0.3 percent rate during the first part of this year. Housing prices are down 21 percent from their peak, and unemployment is nearly 25 percent.
The prosecution at the perjury trial of baseball great Roger Clemens suffered another major setback Wednesday. One of its key witnesses, pitcher Andy Pettitte, conceded that he may have misunderstood his former teammate as saying he used human growth hormone (HGH).
Clemens is charged with lying to Congress when he testified before a House committee that he had never used performance-enhancing drugs.
California State University, the nation's largest four-year, public university system, is in trouble. Wednesday, professors authorized a strike over working conditions and pay, and students began a hunger strike demanding a tuition freeze.
The faculty authorization allows for two-day strikes at each of the schools in system, one after the other. A strike date is pending, though, and will only take place if negotiations fail.
This unfolding crisis is the result of massive state cuts in funding that have pushed higher education in California to the breaking point.