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At the height of the debt crisis last winter, the eurozone – led by German Chancellor Angela Merkel – proposed a so-called "fiscal pact" that would tie member countries to strict fiscal and deficit targets. But, as many economists had predicted, austerity has dragged down already fragile economies and, as economic output shrinks, the debt burden actually looks worse. (Associated Press)

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Say hello, Assad: See the Navy warships off the coast of Syria

The Navy has sent four warships — USS Ramage, USS Mahan, USS Gravely and USS Barry — armed with ballistic missiles into the eastern Mediterranean Sea amid violence in Syria. Navy ships are capable of a variety of military actions, including launching Tomahawk cruise missiles as they did against Libya in 2011.