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(CNN) – Welcome to CNN Radio News Day.
- When a person runs out of money to pay bills, they can go bankrupt. But when a small country runs into a similar problem, especially if that country is part of the European Union, things are not so simple. Cyprus struck a deal with the EU overnight that will keep the island nation's economy afloat. But it's one that's a lesson for the rest of the world, and a deal no one in Cyprus is cheering about. Alan Valdes, director of floor trading for DME securities, spoke to CNN:
""They haven't done anything but kick the can down the road, and they've done nothing to help unemployment over there...."
- In Michigan, the city of Detroit is trying to crawl out of decades of decline in both viability and population. In the last decade, the city lost half its residents and now stands billions of dollars in debt. In a dramatic move earlier this month, Michigan's governor tapped a leading bankruptcy lawyer from Washington D.C. to take-over the city as its emergency manager. Today Kevyn Orr began his new job, which he calls the 'Olympics' of restructuring:
"If we can do this, I will have participated in one of the greatest turnarounds in the history of this country."
- It's been a big week for John Kerry. The Secretary of State started a global trip in Israel with President Obama, and then made solo stops in Jordan and Iraq. Today he wrapped-up his trip with a visit to Afghanistan, where he met with Afghan President Hamid Karzai. CNN's Nick Payton Walsh, traveling with Kerry in Kabul, says this was an important stop:
"Today was very much, certainly to the Americans, about trying to remove the kind of acrimonious atmosphere during the recent trip of Defense Secretary Chuck Hagel while he was here."