Good morning, Quartz readers!
What to watch for today
The euro zone and Greece search for a compromise. Finance ministers from the economic bloc will meet with Greek officials to discuss the country’s attempt to alter the terms of its bail-out when the current agreement expires this month. Greek leaders are refusing to accept any conditions that would force the country to continue harsh austerity measures.
Public holidays for very different leaders. The United States celebrates Presidents’ Day, honoring George Washington and his successors, and financial markets there are closed. Meanwhile, North Korea marks the birthday of Kim Jong-Il, the late father of current leader Kim Jong-Un, in its biggest holiday of the year.
Over the weekend
Egypt launched airstrikes against ISIL in Libya. The strikes were in retribution for the Islamist extremist group’s latest atrocity: it beheaded 21 Egyptian Christians who were working in Libya. The Libyan air force also announced airstrikes against an ISIL affiliate in the Libyan town of Darna.
Japan emerged from recession but still fell short. The country’s GDP grew by an annualized 2.2% in the fourth quarter, bouncing back from two consecutive quarters of contraction. But growth was less than analysts expected, suggesting a fragile recovery hampered by low domestic and global demand.
The EU slapped more sanctions on Russia. The EU announced travel bans and asset freezes for a number of Russian and Ukrainian separatists, including Iosif Kobzon, a deputy in the Russian parliament known as “Russia’s Frank Sinatra” for his previous career as a Soviet crooner.
A weekend of violence in Denmark. A 22-year-old went on a rampage at a cafe in Copenhagen where a controversial Swedish cartoonist was speaking, and then at a local synagogue, killing two people and injuring several police officers. Danish-born gunman Omar El-Hussein was later killed in a shoot-out with police, who are investigating a possible link to the Charlie Hebdo massacre.
The king of chocolate died on Valentine’s Day. Michele Ferrero, Italy’s richest man and the creator of Nutella, passed away at the age of 89, after a life of hazelnut chocolate-coated success that also included the creation of Kinder Eggs, Tic-Tacs, and a $23.4 billion fortune.
Fifty Shades of Grey dominated the weekend. The sadomasochistic love story earned a record $158.3 million at the global box office, as audiences—68% female, at least in the United States—flocked to see the big-screen adaptation of the best-selling erotic novel.
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Quartz obsession interlude
Jason Karaian and David Yanofsky map and explain Angela Merkel’s crisis world tour. “The German chancellor has logged some 17,500 miles (28,000 kilometers) crisscrossing the globe over the past two weeks, darting from one crisis to the next. ‘Merkel here, Merkel there, Merkel everywhere,’ noted Deutsche Welle. ‘Merkel is needed, now more than ever, to put out the world’s fires’.” Read more here.
Matters of debate
Surprising discoveries
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