S&P warning adds default threat to Greece's bailout | Reuters

By Angeliki Koutantou

ATHENS | Mon Jul 4, 2011 7:59am EDT

(Reuters) - Greece would likely be in default if it follows a debt rollover plan pushed by French banks, S&P warned on Monday, deepening the pain of a bailout that one European official said will cost Athens sovereignty and jobs.

European politicians and bankers had expressed confidence last week that the French proposal would not trigger a default, but ratings agency Standard & Poor's said it would involve losses to debt holders, most likely earning Greece a "selective default" rating.

"It is our view that each of the two financing options described in the (French banks') proposal would likely amount to a default under our criteria," S&P said.

French banks, major hold

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Officials: 4 killed, 1 hurt in SKorea shooting - Yahoo! News

SEOUL, South Korea (AP) — A corporal in South Korea's marine corps went on shooting rampage Monday, killing four fellow marines and wounding another on a Yellow Sea island base near the country's tense border with North Korea, officials said.

The corporal was taken into custody on Ganghwa Island, about 40 miles (70 kilometers) west of Seoul, but his motive remained unknown, and the shooting was being investigated, Defense Ministry officials said.

The 19-year-old corporal, surnamed Kim, also was wounded, but it was unclear whether he tried to kill himself or was hurt when he was apprehended, the officials said. They declined to give their names because of office policy.

One of the slain marines was an officer, while the others were rank-and-file marines, the officials said. One died on the way to a nearby hospital, they said.

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Mladic disrupts Hague court, gets not-guilty pleas - Yahoo! News

THE HAGUE, Netherlands (AP) — A defiant Ratko Mladic plunged his Yugoslav war crimes tribunal arraignment into chaos Monday, repeatedly shouting at judges, defying their orders and refusing to enter pleas to 11 charges before the presiding judge threw him out of the hearing.

After a brief adjournment to have Mladic removed, Presiding Judge Alphons Orie resumed the hearing and formally entered not-guilty pleas on Mladic's behalf, in line with court rules for suspects who refuse to plead.

Shortly before guards escorted Mladic from court, he shouted at Orie, "You want to impose my defense, what kind of a court are you?"

Mladic, 69, is accused of masterminding the worst Serb atrocities of Bosnia's 1992-95 war that cost 100,000 lives. He is accused of genocide as the top military official overseeing the 1995 killing of some 8,000 Muslim men and boys at Srebrenica, Europe's worst mass killing since World War II.

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