Venezuela cannot pay debt
Venezuelan President Hugo Chavez said the nation is unable to pay $5 billion of international debt due this year and will seek to "restructure" its obligations in the wake of an oil strike that reduced government revenue. Chavez said the country would continue to pay its obligations though he didn't provide details. Venezuela, which has total debt of $29.8 billion, wants to restructure international bonds to free up cash needed to pay for schools and medicine, he said.