With Europe still dominating the World news, let’s recall the Supreme Court’s decision on Obamacare. This is actually bigger than the 120 bullion USD the EU leaders managed pulling together. The Economist on Obamacare.

JUNE 28th was a day of reckoning for the most important law of Barack Obama’s presidency, and for the president himself. The Supreme Court was to decide the fate of Mr Obama’s 2,700-page health reform. Oral arguments in March had not proceeded as Democrats had hoped. Mr Obama’s lawyer choked on his water, faltered in his opening statement, then endured a battery of hostile questioning. Suddenly it dawned on Democrats that their most treasured achievement might die.

But when judgment day came the Supreme Court sided with Mr Obama, by five votes to four. John Roberts, the chief justice, joined the court’s four liberals in upholding the Democrats’ biggest legislative feat in decades. The law requires Americans to buy insurance or pay a penalty—the so-called “individual mandate”. That penalty, the court ruled, falls within Congress’s power to tax. The court did impose a rider on the law’s expansion of Medicaid, the federal-state health programme for the poor. But the decision is a huge relief for the president and his allies. (Full reading here).