EARLY EDITION 18:00 Ruling party wins July 30 by-elections

On our newscast this evening... The ruling Saenuri Party is celebrating today, after winning 11 out of 15 parliamentary seats up in by-elections yesterday. Meanwhile the main opposition party tries to pick up the pieces after a crushing defeat. Their co-chairs choose to step down, putting their fledgling coalition back at square one. Argentina is on the verge of default for the second time in just over 10 years. The root of this problem dates back to 2002, when two of the nation's bondholders rejected restructured debt agreements. For more,... stay with us for Early Edition at Six.