Texas' voter ID law goes to court

Texas' controversial voter ID law goes on trial in Washington starting today, according to the Fort Worth Star-Telegram and other news organizations.

The trial before a panel of judges starts this morning in U.S. District Court in downtown Washington. In the lawsuit Texas v. Attorney General Eric Holder, the state asks the court to approve its law requiring that voters produce a government-issued photo card, and also asks the court to strike down a section of the Voting Rights Act that requires states with a history of voter discrimination to get approval for new voter plans. Student IDs are not accepted under the Texas law.

Texas is one of the states required under the Voting Rights Act to have new voting laws cleared in advance by the Justice Department. In March, the federal agency struck down the 2011 Texas law, saying that based on Texas' own data, more than 600,000 of the state's registered voters lack a driver's license or ID card issued by the state's Department of Public Safety and a disproportional amount are Latino, the Star-Telegram reports. The Justice Department also maintained that providing free state cards from the public safety agency was not enough because 81 of Texas' 254 counties don't have offices, according to the news agency.

Texas Republicans say the law is necessary to combat voter fraud, while Democrats in the state say the requirement will block thousands of poor, elderly and minority voters from the right to vote. Republicans have said that if Democrats cast fewer votes, it's OK as long as the ID requirement did not target minority voters, the Star-Telegram says.

According to the NAACP Legal Defense Fund, an organization separate from the NAACP, 24% of black Americans and 16% of Latinos - all of voting age - lack a government-issued photo ID.

The LDF calls Texas' voter ID law discriminatory and represents the Texas League of Young Voters Education Fund and black students at Prairie View A&M and Texas Southern universities, who have intervened in the case.

Members of both groups have voted in previous Texas elections using a state-issued student ID, with would no longer be acceptable under Texas' new law, said Ryan Haygood, director of LDF's Political Participation Group.

Said Natasha Korgaonkar, LDF assistant counsel, "Our clients expose the discriminatory nature of Texas' photo ID measure, and the true costs and burdens of obtaining the underlying documents necessary to secure Texas' so-called 'free' photo id. Our experience teaches us that a student's ability to pay a fee should not determine whether they can vote."

Source: http://rssfeeds.usatoday.com/~r/UsatodaycomNation-TopStories/~3/VBDZYXxO9sM/1

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2012 Temple Owls NCAA Football Gambling Odds and Predictions

After a seven-year absence the Temple Owls are back in the Big East. Temple never dominated the MAC the way many thought it could, but the last couple years Temple started to look like a program that could make a serious move. Unfortunately, Temple has to replace several key letter winners this year.

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Big East Conference 2012-2013 College Football Previews: Temple Owls
Head Coach: Steve Addazio
2011 Record: 9-4
Temple Gambling Odds from BetOnline to win BCS Championship: +100,000
Temple Gambling Odds from BetOnline to win Big East Conference: +3,000
Temple Team Page ? Players Stats ? Roster ? 2012 Schedule ?>

The Big East is a step up from the MAC, but not the step up it once was.

After Al Golden left the program, Steve Addazio took over. Addazio has become a fan favorite because of his high-energy style of coaching. The Owls finished off last season with a big 37-15 win over Wyoming in the New Mexico Bowl.

It obviously wasn?t a big name bowl or great competition, but the win helped boost morale around the program. Can the team be competitive right away in the Big East?

Team Strengths:

Temple?s backfield is loaded with talent. The Owls have a great runner in Matt Brown. They did lose Bernard Pierce, but Matt Brown should be able to fill his shoes quite well. In addition, Chris Coyer is a great running threat the quarterback position. Coyer only started four games, but he rushed for 563 yards in 2011. With Brown and Coyer in the backfield, Temple can run the spread-option like Addazio loves to do.

Temple has been great on the defensive line over the last few years. They lost a ton of talent here, but their deep rotation from last year means they still return many guys who have a great deal of experience. Senior Marcus Green looks like a guy who could have a breakout season in 2012.  2012 Temple Owls NCAA Football Gambling Odds and Predictions

Team Weaknesses:

The offensive front could be a major problem for the Owls this year. Only one starter returns from a year ago. The Big East will feature many bigger defensive lines, so the fact that Temple must start anew across the offensive line is a major hurdle for this team.

Temple lost its leading tackler in Stephen Johnson from the linebackers unit. In addition, they lost Tashir Whitehead from the same group, and he had 13.5 tackles for loss. The lack of depth at the linebacker spot is a real concern for Temple in the year ahead.

The wide receiver spot is a glaring weakness on the offensive side. Only one receiver returns who caught more than three passes a year ago. Temple wants to be a team that runs the ball, but they?ll obviously have to find some playmakers on the outside as well.

2012-2013 Temple Owls Football Prediction: 4-7

Temple was always the laughing stock of the Big East in its previous time inside the conference. I don?t expect the Owls to compete for the top spot in the conference just yet, but they should be competitive. Depth is the major issue right now the Owls. They need to get a little bit deeper before they can handle the big guys on a weekly basis. Look for teams to stack the box and force Temple to beat them through the air this season.

2012 Schedule

8/31/12 TBD VILL
9/8/12 12:00 PM ET MD
9/22/12 TBD @PENST
10/6/12 TBD SOFLA
10/13/12 TBD @CONN
10/20/12 TBD RUTG
10/27/12 TBD @PITT
11/3/12 TBD @LOU
11/10/12 TBD CIN
11/17/12 12:00 PM ET @ARMY
11/23/12 TBD SYR

GRAB OUR BEST Expert CFB Picks for 2012 NCAA FOOTBALL Betting! ??>

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Opening statements set stage for Texas ID trial

(AP) ? The state of Texas and the Justice Department gave opening statements Monday in a trial over Texas' new voter ID law, setting the stage for a legal battle over the federal Voting Rights Act.

At issue is a 2011 law passed by Texas' GOP-dominated Legislature that requires voters to show photo identification when they head to the polls. The state argued Monday that the law represents the will of the people and does not run afoul of the Voting Rights Act, passed in 1965 to ensure minorities' right to vote.

"Texas Democrats, like their national counterparts, have been wholly out of step with their constituents," said Adam Mortara, a lawyer representing Texas. "Voters want photo ID."

Mortara said the state's new statute is in line with similar laws that have cleared legal challenges in Indiana and Georgia. He also said the Justice Department would not be able to prove that any voters ? and particularly minority voters ? would be hindered by the law.

"It's really quite difficult to find anyone who's registered to vote who doesn't already have a photo ID," he said during Texas' opening statement.

Lawyers for the Justice Department strongly disputed Texas' view.

Elizabeth Westfall, in her opening for the Justice Department, said the evidence would show as many as 1.4 million voters lack any form of acceptable identification under Texas' new law. She also stressed Texas wouldn't be able to prove there was no intent to discriminate against minority voters when it passed the law.

"Texas will be unable to meet its burden," she said.

Westfall noted the law was passed in the Texas Legislature under "the uniform objection" of minority lawmakers and that the Justice Department would show evidence it does in fact discriminate against minority voters.

"We look forward to explaining the flaws in the state's argument," she said.

The opening statements set up a case that will test the limits of the Voting Rights Act. The Obama administration blocked Texas' voter ID law in March, citing the Act. Texas, in turn, filed a lawsuit against the Justice Department sending the case to federal court in Washington.

A three-judge panel will decide whether Texas' law passes legal muster. The trial is expected to last five days.

Testimony from witnesses began immediately after opening statements, with Texas calling Brian Keith Ingram, an official with the Texas Secretary of State's Office. Ingram told the court he knew of at least four verified instances when someone voted who had recently passed away according to records and said there could be as many as 239 such instances.

"It's more common than we thought, and it is troubling," he said.

Under cross examination, Ingram said that there's a possibility some of those instances are the result of clerical errors.

The trial marks the second time in months that Texas and the Justice Department have argued in Washington over the Voting Rights Act. In January, the two sides spent two weeks arguing in front of a similar three-judge panel about Texas' redrawn congressional maps. No final decision has been made in that case, but a federal court has approved interim maps that have allowed Texas elections to go ahead.

Many of the key players in that case have returned for this one. As in January, Mortara is serving as one of Texas' lead attorneys and several Justice Department lawyers who worked on that trial are working on this one. One of the judges in this week's trial, Rosemary Collyer, appointed in 2002 by President George W. Bush, is also involved in both cases.

The other judges hearing the voter ID case are David Tatel, appointed by President Bill Clinton in 1994, and Robert Wilkins, appointed in 2010 by President Barack Obama.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/386c25518f464186bf7a2ac026580ce7/Article_2012-07-09-Texas%20Voter%20ID%20Trial/id-83ca4a2c86c748149e20610b39e8c6f8

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Greek government wins confidence vote, bigger battles loom

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Source: http://news.yahoo.com/greeces-government-wins-confidence-vote-214809590--business.html

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Self ? Hypnosis Therapy Guide To Lose Weight Quick | TriVAN ...

There are a lot more or less thousands and thousands of diet program applications that have been made obtainable all throughout the globe these days. Whilst there are some that middle on obtaining rid of body fat from your each day diet program, there are also some that middle on restricting the practice of feeding on food with carbs. There are also others that concentrate on drinking specific sorts of blended shakes or getting in particular kinds of diet plan meds. In spite of the reality that all of these diet programs are designed for you to place you into form, these regrettably result to greater dangers of destroying an individual?s fitness. So, why would you even set oneself in risk when you can make use of fat loss hypnosis to lose a couple of kilos?

You need to abide by the directions effectively so as to achieve the desired body fat. Just a simple capsule will decrease your physique weight around twenty pounds in 30 days.

If you like scorching meals you can think about yourself blessed. Capsaicin, the energetic component compounds such as chile peppers raises the metabolic price and boosts your capability to burn up to ten % much more calories and hence know how to lose weight fast. Even if you?re not an admirer of hot food items since it forces you to inherent spicy meals, a much better option would be an excellent cup of tea.

Use the calorie calculation to figure out how to lose weight and how several energy you burn although sitting, standing, ejercit ndote, lifting weights and so on. In the course of the day. This will help you preserve an everyday exercise for which you can even use a heart price meter that will compute the complete calories burned.

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Eat supper early so that you are not tempted to consume late at evening. Eating before provides your metabolic rate a lot more time to burn up off the calories. Scientific studies reveal that the metabolic price slows throughout the night hrs as individuals prepare to sleep. By feeding on early, you drop weight a lot more simply.

Consume most of your calories early in the day and always consume breakfast. Don?t eat after 8pm and not only will you steer clear of these extra calories but you will snooze much better.

Exercise contributes to the quantity of excess fat decline you can experience. How hard you work out and how long your physical exercise durations are for can actually impact the amount of calories you burn up and the amount of pounds you shed. For instance if you look into interval training on the web you will find out that quick bursts of higher vitality workout are good for burning excess fat.

1 of the greatest sources of protein and that ought to be a part of balanced and healthy diet are ?nuts.? Possessing mentioned that, for very an although guys and ladies on diet plan ideas wouldn?t think about consuming nut items since of their substantial-excess fat content. Definitely, you will be glad to learn that nuts are when once again accepted as a wellness foods.

Never get a vacation from losing fat when you go on a journey. If you deliver your personal healthy meals and snacks, you can invest less cash and consume less energy. Also, opt to wander as an alternative of getting the tram or taxi to and from sightseeing destinations. It is very simple say ?I?m just heading to allow it go. Following all, holidays are about possessing entertaining. ?, but, you will really feel much better if you don?t stray from your targets during your time absent.

Split your workout routines into upperbody times & decrease entire body times. However, it is also quite simple to drop excess weight, even when this procedure can be sluggish.
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Source: http://trivanroofing.com/hypnosis-therapy-guide-lose-weight-quick/

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US military buries airmen killed in 1965 crash

Members of the Air Force Honor Guard hold American flags to be presented to family members during a burial service for Air Force Col. Joseph Christiano, Col. Derrell B. Jeffords, Lt. Col. Dennis L. Eilers, Chieft Master Sgt. William K. Colwell, Chief Master Sgt. Arden K. Hassenger and Chief Master Sgt. Larry C. Thornton, Monday, July 9, 2012, at Arlington National Cemetery Arlington, Va. It was Christmas Eve 1965 when the Air Force plane nicknamed "Spooky" took off from Vietnam for a combat mission. The crew sent out a "mayday" signal while flying over Laos, and after that, all contact was lost. Two days of searches turned up nothing. (AP Photo/Haraz N. Ghanbari)

Members of the Air Force Honor Guard hold American flags to be presented to family members during a burial service for Air Force Col. Joseph Christiano, Col. Derrell B. Jeffords, Lt. Col. Dennis L. Eilers, Chieft Master Sgt. William K. Colwell, Chief Master Sgt. Arden K. Hassenger and Chief Master Sgt. Larry C. Thornton, Monday, July 9, 2012, at Arlington National Cemetery Arlington, Va. It was Christmas Eve 1965 when the Air Force plane nicknamed "Spooky" took off from Vietnam for a combat mission. The crew sent out a "mayday" signal while flying over Laos, and after that, all contact was lost. Two days of searches turned up nothing. (AP Photo/Haraz N. Ghanbari)

An Air Force carry team carries the casket with the remains of Air Force Col. Joseph Christiano, Col. Derrell B. Jeffords, Lt. Col. Dennis L. Eilers, Chieft Master Sgt. William K. Colwell, Chief Master Sgt. Arden K. Hassenger and Chief Master Sgt. Larry C. Thornton, during a burial service at Arlington National Cemetery Arlington, Va., Monday, July 9, 2012. It was Christmas Eve 1965 when the Air Force plane nicknamed "Spooky" took off from Vietnam for a combat mission. The crew sent out a "mayday" signal while flying over Laos, and after that, all contact was lost. Two days of searches turned up nothing. (AP Photo/Haraz N. Ghanbari)

This undated family photo provided by The Fry Funeral Home shows Air Force Lt. Col. Dennis Eilers who was shot down on Christmas Eve 1965 over Laos. The remains of six US airmen, including Eilers, missing in action in Vietnam since 1965 have recently been identified and will be interred in a single casket Monday, July 9, 2012, at Arlington National Cemetery. (AP Photo/Courtesy Eilers family)

This undated family photo provided by The Fry Funeral Home shows Air Force Lt. Col. Dennis Eilers who was shot down on Christmas Eve 1965 over Laos. The remains of six US airmen, including Eilers, missing in action in Vietnam since 1965 have recently been identified and will be interred in a single casket Monday, July 9, 2012, at Arlington National Cemetery. (AP Photo/Courtesy Eilers family)

Barbara Annechino is comforted by her brother Jeffrey Christiano during the burial service for their father Air Force Col. Joseph Christiano, and Col. Derrell B. Jeffords, Lt. Col. Dennis L. Eilers, Chieft Master Sgt. William K. Colwell, Chief Master Sgt. Arden K. Hassenger and Chief Master Sgt. Larry C. Thornton, Monday, July 9, 2012, at Arlington National Cemetery Arlington, Va. It was Christmas Eve 1965 when the Air Force plane nicknamed "Spooky" took off from Vietnam for a combat mission. The crew sent out a "mayday" signal while flying over Laos, and after that, all contact was lost. Two days of searches turned up nothing. (AP Photo/Haraz N. Ghanbari)

ARLINGTON, Va. (AP) ? Ever since Sherrie Hassenger's husband went missing with five other U.S. airmen over Laos in 1965, her purpose has been to wish and to hope he would come home. When those men's remains were buried in a single casket Monday at Arlington National Cemetery, she said, some of that purpose was taken away.

"All I listen to is '50s, '60s music," she said. "When I saw those Air Force men in those dress blues, just like back then, I just wanted to go up and hug them and kiss them. It felt like maybe I could find a piece of my husband in them."

The charred remains of the six airmen ? identified not through DNA matches but through dental records, personal items and other circumstantial evidence ? were buried in a single casket with full military honors, as is common in situations where remains can't be conclusively linked to a specific individual. The remains are representative of six Air Force servicemen: Col. Joseph Christiano of Rochester, N.Y.; Col. Derrell B. Jeffords of Florence, S.C.; Lt. Col. Dennis L. Eilers of Cedar Rapids, Iowa; Chief Master Sgt. William K. Colwell of Glen Cove, N.Y.; Chief Master Sgt. Arden K. Hassenger of Lebanon, Ore.; and Chief Master Sgt. Larry C. Thornton of Idaho Falls, Idaho.

The Air Force gave all six posthumous promotions, a military spokeswoman said.

It was Christmas Eve 1965 when their Air Force plane, nicknamed "Spooky," took off from Vietnam for a combat mission. The crew sent out a "mayday" signal while flying over Laos, and after that, all contact was lost. Two days of searches turned up nothing.

For nearly half a century, the airmen's families endured an emotional kaleidoscope that they say is difficult to describe to those who never had to face it. The men were listed for years as missing, and family members held out hope at first that their loved ones had survived. For most that hope faded over time, despite an occasional unconfirmed report that crew members were seen alive. The crash site has been excavated several times over the past decade, but it was not until 2010 and 2011 that human remains were recovered.

Even though Sherrie Hassenger's husband perhaps had the most conclusive identification of all six crew members ? a tooth of Hassenger's was recovered and matched through dental records ? she and her son Keith Hassenger said they still have nagging doubts about what happened. Both said they appreciated Monday's service and were grateful so many people came to pay respects, but they said they have had a difficult time getting answers over the years. The tooth, in their mind, raises more questions than answers: If a single tooth was found, they wonder, wouldn't it make sense that other teeth or perhaps his skull could be found also?

Keith Hassenger said that while they approached Monday's service with the feeling it might help provide closure, that comfort proved elusive.

"This may be the only thing we get," he said.

For Jeanne Jeffords, 86, of Temecula, Calif., the hardest part of Monday's service was seeing how emotional it was for her children, who were teenagers when their father died.

"I've lived with it for so long, I'm all teared out," said Jeffords, who appreciated the opportunity to meet the families of her husband's fellow airmen. "For all these years we just had a list of names."

The service drew hundreds of people, including Air Force and Vietnam veterans unrelated to the families.

Curtis Eilers, who was 3 when his father died, admitted he was taken aback that so many people have been interested in his father's story and attended Monday's service. Many strangers also attended a service for his father in Iowa.

"I didn't know that anybody else would be interested," he said. "I never thought of my dad as a hero."

He said he was impressed by the efforts to identify the crew members.

The first joint U.S.-Laotian team didn't visit the crash site until 1995 in the southern province of Savannahket, which was heavily bombed during the war as it lay on the Ho Chi Minh supply route that supplied Vietcong communist guerrillas in southern Vietnam. A villager recalled seeing a two-propeller aircraft crash near the village. A second villager had found wreckage of it and took the team to the crash site.

Follow-up teams revisited the site four times between 1999 and 2001 and recovered military equipment but no human remains, and excavation was suspended.

Excavations resumed in 2010 and 2011, when human remains and personal items from the crew were found.

It is not uncommon in situations like these for joint sets of remains to buried at Arlington. The Pentagon's Defense POW/Missing Personnel Office lists more than 83,000 service members as missing in action, the vast majority from World War II. In 2011, the office identified the remains of 62 service members previously unaccounted for.

Jeffrey Christiano of Rochester, N.Y., who was only 2 when his father's plane went down, said Monday's burial brings his father home and resolves "this nagging, disjointed feeling that he's not where he belongs."

He said he has struggled to understand his own emotions in the months since learning that his father's remains had been found and would be buried at Arlington.

"Most people learn about their father by experiencing them. I had to consciously make the effort to put the picture of my father together myself," he said, and in many ways he put that picture together through the lens of the decades-long search to discover what happened. Now that the search is finally over, he said, "today's the day he dies, for me."

___

Associated Press writers Martha Waggoner in Raleigh, N.C.; Melanie Welte in Des Moines, Iowa; Matthew Pennington in Washington; John Miller in Boise, Idaho; Rik Stevens in Albany, N.Y.; Jonathan J. Cooper in Salem, Ore.; Tom Hays in New York, and researcher Barbara Sambriski contributed to this report.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2012-07-09-Airmen%20Burial/id-31636e9389ae4437a0312e1986f28dc1

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Advertising & Marketing Ideas for Public Bulletin ? ? Small business ...

Filed under the topic: ideas

You can find public bulletin boards throughout communities, in locations such as libraries, grocery stores, laundromats, schools and health clubs. Their ubiquitous presence can make bulletin boards an effective low-cost marketing tool for a business owner with a limited advertising budget. A few basic ideas can help you get the most out of your public bulletin board marketing campaign.

Bulletin board advertising can make the community aware of your new enterprise. Creating fliers with tear strips at the bottom has a similar effect to handing out business cards. Use the body of the flier to provide basic information about your business, and include your business contact information on the tear strip. This prevents the need for prospective customers to write down the information. Even if a prospect forgets about your business in the short term, your tear strip can serve as a reminder when she comes across it at a later time.

You can enjoy better success with your bulletin board marketing campaign by targeting the locations where you place your fliers instead of placing them randomly. By doing so, you?re more likely to reach people that have a need for your service. For example, if you own a dry cleaning business, focus on posting your fliers on bulletin boards in laundromats or in businesses frequented by professionals who need to dress formally for work. If you operate a resume preparation service, ideal locations include local colleges and libraries.

Use public bulletin boards to promote your business? special events or sales on an ongoing basis. The body of the flier can provide information about the promotion, and tear strips can serve as coupons or may be exchanged for free merchandise. By keeping track of the number of tear strips you receive, you?ll be able to gauge the effectiveness of your promotion as well as your bulletin board marketing efforts in general.

You even can start a public bulletin board service business of your own. Many business owners and professionals do not have the time to travel around the area to post their own marketing materials. You can provide a valuable service by performing the task for them and receiving a flat fee in return. If you?re the creative type, generate additional revenue by working with business owners to develop an eye-catching flier that conveys their marketing message. Of course, you can use public bulletin boards to market your services.

Chris Joseph writes for newspapers and online publications, covering business, technology, health, fitness and sports. He holds a Bachelor of Science in marketing from York College of Pennsylvania.

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Relative Terms: Bulletin | bMarketing | Ideasb | Public | Businessb | Advertising | bSmall

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UserVOD Helps Mobile Developers (Virtually) Look Over Users? Shoulders

LogoIt must be something in the air. A few weeks ago, ClickTale released a version of its visitor recording and activity heatmap product for the mobile web. On Thursday, we wrote about Delight.io's service for recording user sessions in mobile apps. And now a startup called UserVOD?is announcing the public beta of, yes, a product for recording user sessions in mobile apps. Co-founders Zahi Boussiba and Yani Douek were previously working together on?a mobile social shopping app called ?ShopTalk. One of the challenges they discovered was the fact that all the feedback was written or verbal, which could sometimes be hard to understand, and didn't really convey the full user experience.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/6OcyawAobd4/

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Nobel Laureates in Physics React to the Higgs-Like Particle News [Video]

Features | More Science

The Nature Video team filmed a variety of reactions from physics laureates at the Lindau Nobel Laureate Meeting this week in Germany


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Spanish, Italian borrowing rates creep back up

Xanty, a Mexican street artist, performs in Milan, Italy, Wednesday, July 4, 2012. Italian Premier Mario Monti has insisted Italy doesn't need a European bailout because it expects a budget surplus next year, but acknowledges work still needs to be done to cut public spending, boost economic growth and create jobs. (AP Photo/Luca Bruno)

Xanty, a Mexican street artist, performs in Milan, Italy, Wednesday, July 4, 2012. Italian Premier Mario Monti has insisted Italy doesn't need a European bailout because it expects a budget surplus next year, but acknowledges work still needs to be done to cut public spending, boost economic growth and create jobs. (AP Photo/Luca Bruno)

(AP) ? A week after financial markets greeted European leaders' decision to help economically-troubled Spain and Italy, the two countries saw their borrowing rates rise again on Friday, signaling resurging concern over the sovereign debt crisis.

The rate, or yield, for the Spanish 10-year bond was up 0.22 percentage points to 6.96 percent by early afternoon in Madrid. That level is deemed unsustainable over the long term and could push Spain to seek a full-blown bailout like Greece, Ireland and Portugal.

Italy's equivalent rate was up 0.13 percentage points to 6.01 percent. In comparison, Germany's bond ? seen as a safe haven for investors ? was commanding a yield of just 1.37 percent.

Both Spain's and Italy's yields fell sharply earlier this week in a wave of euphoria after European leaders agreed to channel aid directly to troubled banks, without further burdening a country's debt. They also agreed to make it easier for countries to get rescue loans and for the European bailout fund to buy bonds from other investors, which would lower countries' borrowing rates.

The summit decisions were generally seen as a step in the right direction in the resolution of the crisis, but the feeling is that more needs to be done ? and faster.

"The optimism following last week's EU leaders' summit is fading as concerns over various aspects of the agreement creep in," wrote Elisabeth Afseth and Brian Barry, fixed income analysts at Investec financial services, in a note to clients.

One key concern is that the European bailout fund will not be big enough if Spain or Italy needed rescue loans for their governments.

The bailout fund will have ?500 million in lending power when the new, permanent version is finalized this month. It has already committed some ?180 billion to help Greece, Ireland and Portugal. Spain will ask for as much as ?100 billion to rescue its banks, and Cyprus is expected to seek a bailout of as much as ?10 billion.

But European leaders have given no sign that they intend to increase the bailout fund's lending capacity. In fact, smaller eurozone countries like Finland have been complaining about the cost of the rescue operations.

The bond rates for Spain and Italy began inching up on Thursday, when the European Central Bank gave no indication that it would take more emergency action to ease eurozone government borrowing rates. The ECB has in the past bought the governments bonds of financially weak countries like Spain and Italy and also flooded banks with cheap loans. Those measures helped bring borrowing rates down, but only for a few months at a time.

Investors are also aware that the eurozone economy is in terrible shape, a fact which will make it more difficult for Spain and Italy to cut their public debt loads. Almost half the eurozone countries, including Spain and Italy, are in recession. Unemployment is at a euro-era record of 11.1 percent across the currency bloc.

"Slowly the optimism after the last EU summit seems to be vanishing and reality is setting in with weak growth, high debt levels and unemployment once again in the spotlight," said Markus Huber, of ETX Capital financial services.

Beyond the economy, Spain's big problem is its banks, which are sitting on massive amounts of soured real estate investments.

The Spanish government last month finally recognized some of the banks were in deep trouble and its eurozone partners agreed to make available up to ?100 billion in loans for the banks.

When that deal was announced, the existing rules were that the Spanish government would be responsible for repaying those loans. Fears that the government would not get the money back from banks and be hit with huge losses worried investors, who pushed the country's borrowing rates to euro-era highs above 7 percent.

That is why the EU agreement to directly aid the banks, without adding to government debt, was seen as a victory for Madrid. However, the lack of detail on how and when the new rule will take effect seems to have punctured the balloon of optimism.

Eurozone finance ministers are expected to release some details on the bank bailout Monday.

"There is a feeling that the European Council meeting last Friday is not the 'gamechanger' some had hoped for and funding pressures with regard to Spain and Italy are returning," said Neil MacKinnon of VTB Capital.

Associated Press

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