Draghi Says ECB Will Do What’s Needed to Preserve Euro – Bloomberg  “European Central Bank President Mario Draghi said policy makers will do whatever is needed to preserve the euro, suggesting they may intervene in bond markets as surging yields in Spain and Italy threaten the existence of the 17-nation currency bloc.”

Euro Exit Beats Begging Bowl, Says Spanish Elder Statesman – Telegraph “The regional leader of Asturias in Spain has become the country’s first major figure to call for a radical change of strategy and exit from the euro, unless monetary union is fundamentally reformed.”

Investors Can’t Ignore Iran. Next Black Swan? – CNN  “One market strategist I recently spoke to told me he’s worried that Iran is the biggest risk that nobody is focusing on right now. That makes it a prime candidate to be the next Black Swan. Everyone already knows that Europe remains a mess, the U.S. is approaching the fiscal cliff of tax hikes and big automatic budget cuts, and that China’s economy is cooling. It’s not that hard to position a portfolio for that…. Marty Leclerc, founder of Barrack Yard Advisors, an investment firm in Bryn Mawr, Pa., said he’s concerned that Iran could wreak havoc on the commodities and stock markets if it decided to step up militarily against Israel or others in the region as a means of distracting Iranian citizens from the troubles in its economy.”

Boston’s Outrageous Attempt to Block Chick-fil-A – Boston Globe  “The president of Chick-fil-A opposes gay marriage. While this view goes against the grain in a state that made history by embracing it, it’s no reason for Mayor Thomas M. Menino to oppose a Chick-fil-A restaurant in Boston. … But which part of the First Amendment does Menino not understand? A business owner’s political or religious beliefs should not be a test for the worthiness of his or her application for a business license.”

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