Thursday, May 20, 2010

Serious accusations against North Korea could reignite a war.

While the stock market had its own problems so far this day, this from Yahoo! news:

North Korea, accused of waging the deadliest attack on the South Korean military since the Korean War, flatly denied sinking a warship Thursday and warned that retaliation would mean "all-out war."
Evidence presented Thursday to prove North Korea fired a torpedo that sank a South Korean ship was fabricated by Seoul, North Korean naval spokesman Col. Pak In Ho told broadcaster APTN in an exclusive interview in Pyongyang.

He warned that any move to sanction or strike North Korea would be met with force.
"If (South Korea) tries to deal any retaliation or punishment, or if they try sanctions or a strike on us .... we will answer to this with all-out war," he told APTN.

An international team of civilian and military investigators declared earlier in Seoul that a North Korean submarine fired a homing torpedo at the Cheonan on March 26, ripping the 1,200-ton ship in two.

Fifty-eight sailors were rescued, but 46 died — South Korea's worst military disaster since a truce ended the three-year Korean War in 1953. President Lee Myung-bak vowed to take "resolute countermeasures" and called an emergency security meeting for Friday.

This is very scary stuff and should be on more news outlets than it currently is. But this could affect markets already nervous over the European Unions troubles with debt and the Euro.

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