Ahead of the curve: The next 7 days
May 13th, 2012
03:08 PM ET

Ahead of the curve: The next 7 days

Here is a look at some of the stories that CNN plans to follow this week:

More Greek turmoil stokes fears of default, European financial mess

Debt-stricken Greece held parliamentary elections just a week ago, but it might call brand-new ones this week because of bitter disagreements over how to fix the country's finances, the failure of which could affect the financial stability of Europe.

New elections must be called if no government is formed by Thursday. They would take place next month.

Europe is keeping a nervous eye on Greece, fearing that the political chaos there could lead to defaults on debt that could threaten the future of the euro currency. Greek failure or refusal to make debt payments could hurt banks across Europe.

Outside lenders had made Greece agree to spending cuts as a condition for keeping the nation's finances somewhat afloat. But parties that are against the cuts in jobs, wages, pensions and benefits made gains in last week's elections, heightening tensions with the parties that favor the measures and making the formation of a new government difficult.

Financial Times: Greece's exit from eurozone 'would be possible'

Fareed Zakaria: Is democracy part of Europe's financial troubles?

Is this the week for SpaceX's launch?

After a series of delays, private firm SpaceX this week could launch the first commercial spacecraft to go to the international space station.

SpaceX is scheduled to launch its Dragon cargo spacecraft, carried by its Falcon 9 rocket, on Saturday from Cape Canaveral, Florida. If all goes as planned, after a series of in-space tests the unmanned Dragon will dock with the station, and the station's crew will recover food, water and other provisions from inside the Dragon.

This is a demonstration mission designed to establish whether SpaceX can deliver cargo to the station. If it succeeds, it will try to undertake at least 12 cargo missions as part of a contract with NASA. SpaceX hopes the experience with the cargo flights will help it reach its goal of carrying astronauts aboard the Dragon.

Facebook's IPO: Biggest ever for a technology company?

Social networking giant Facebook is expected to make its shares publicly available Friday, and while many big investors are mulling whether to get in on the action, it's not clear how many small investors can grab a piece of the company right away.

The initial public stock offering, expected to be the biggest technology IPO in history, might be priced above the range of $28 to $35 per share it outlined in a recent Securities and Exchange Commission filing, according to CNNMoney. Facebook officials have been traveling the country since last week, taking questions about its future such as how it plans to make money on mobile devices from investors who might be interested in the IPO.

Many investors will try to get Facebook shares, but not everyone who wants them will get them immediately, according to CNNMoney. According to some reports, Facebook's initial public offering already is oversubscribed.

What you need to know about Facebook's IPO

Experts: What you should pay for Facebook stock

No Putin at G-8 summit in Maryland

U.S. President Barack Obama will host leaders of the world's most powerful economies this week at the Group of Eight summit at Maryland's Camp David, but he won't get a chance to meet with Russia's newly reseated president.

Russian President Vladimir Putin, who this month retook the office that he left for four years because of consecutive term limit rules, said he would skip the meeting, claiming he needed time to appoint his cabinet, Reuters reported. Instead, former president and current Prime Minister Dmitry Medvedev will go.

The summit will thrust France's new president, François Hollande, into the international spotlight. Hollande became France's first Socialist president since François Mitterrand left office in 1995 as he swept to election victory a week ago over the incumbent Nicolas Sarkozy, one of the most America-friendly French presidents in decades. Hollande has been critical of the austerity policies central to European bailout deals for troubled economies there policies that Sarkozy and German leader Angela Merkel had backed.

The Group of Eight includes the United States, the United Kingdom, France, Germany, Russia, Italy, Japan and Canada.

Can Kentucky Derby winner have another?

At 15-1 odds, the colt I'll Have Another was a bit of a surprise winner of this month's Kentucky Derby.  On Saturday, we'll see if he can keep the surprises coming at the Preakness in Baltimore.

I'll Have Another bought relatively cheaply by his owner last year for $35,000, according to Sports Illustrated is the only hope of breaking horse racing's 34-year Triple Crown drought. The last horse to win the Triple Crown meaning victories at the Kentucky Derby, the Preakness and the Belmont was Affirmed in 1978.

Mladic war-crimes trial to begin

Barring any delays, a war-crimes trial for former Bosnian Serb military leader Ratko Mladic could begin Wednesday.

Mladic, wanted in connection with the massacre of nearly 8,000 Muslim men and boys at Srebrenica, Bosnia, in 1995, among other crimes, was captured in May 2011 after 15 years in hiding.

Mladic led Bosnian Serb forces in the civil war that broke out in Bosnia-Herzegovina when Yugoslavia dissolved in the early 1990s. More than 200,000 Muslims and Croats died in the 1992-95 civil war in Bosnia-Herzegovina, including nearly 8,000 slaughtered at Srebrenica - Europe's worst massacre since World War II.

He is charged with genocide and other crimes by the International Criminal Tribunal for the former Yugoslavia.

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Filed under: Ahead of the curve
soundoff (5 Responses)
  1. saywhat

    Greece now stands at a point where the turn of events would determine the future of the Union, impacting us in the process. I hope a coalition govt is formed before Thursday.

    May 13, 2012 at 3:13 pm | Report abuse |
  2. saywhat

    Indeed its Hollande who would be the center of attention at the G-8 summit. His election must have our State dept & policy makers scrambling to hang on to his every word.
    Indications are that he wouldn't be our poodle like Tony Blair or Berlesconi were or line toers like the current British & German leaders.

    May 13, 2012 at 3:24 pm | Report abuse |
  3. Greek American

    Yes Greece has major problems financially for sure. The outcome or non-outcome of this last election is only serving to make things more chaotic. I wouldn't be surprised to see a military takeover there in the near future if these politician idiots don't stop thinking about only themselves.

    May 13, 2012 at 8:54 pm | Report abuse |
  4. chrissy

    Ahead of the curve? And not one mention of the hedge fund fiasco at JP Morgan/Chase bank?? Sheesh!

    May 13, 2012 at 10:37 pm | Report abuse |
  5. dazzle ©

    Debt, Greece, etc. I have missed our daily joke from @bobcat(in a hat) ©. Come back to us, I missed you today. I'm sure you were being extra wonderful and funny as he@ll to your wife. She is a lucky woman and I am certain you made Mother's Day special for her. Don't let trolls or jackers get you down. TSA alert for dazzle © on Tuesday.

    May 14, 2012 at 2:39 am | Report abuse |