Saudi Arabia is not immune to the debt crisis in the European Union.

“A default that involved Spain and Italy would almost certainly lead to a seizing up of eurozone — and quite possibly global — interbank markets,” says Saudi-based Samba bank.

“Even if the financial shock was confined to the zone itself, European demand for raw materials and manufactured products (mainly from emerging markets) and services (mainly from North America) would shrink dramatically and this would be enough to imperil the global economic recovery.”
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While the U.S. oil sanctions on Syria are welcome, the world can inflict a much bigger blow to Bashar Al-Assad’s regime if its biggest customer — the European Union — shunned its crude exports too.

It has become a grim but almost familiar sight on TV: unarmed Syrian protesting against the government on the streets, only to flee at the sound of gunfire from Syrian forces - a few minutes later lay bodies on the streets. READ MORE HERE