Mitt Romney heads abroad to bolster his foreign policy credentials, stocks rally here and abroad as Draghi hints that the ECB is prepared to print money and a new protracted battle in Washington begins over the Bush-era tax cuts. This and more in this week’s Week in Pictures. 

 

In this Jan. 27, 2010 file photo, Congressional Budget Office (CBO) Director Douglas Elmendorf testifies on Capitol Hill in Washington. Will President Barack Obama’s health care law increase the government’s huge deficit or reduce it? How many people will it really cover? How much will it cost taxpapers? Congress’ nonpartisan budget scorekeepers release their findings, the first in-depth look at the law since the Supreme Court ruled it constitutional. (AP Photo/Manuel Balce Ceneta, File)

Brett Narloch, director of the North Dakota Policy Council, a Bismarck-based nonprofit group, speaks on Monday, July 23, 2012, during a news conference in the North Dakota Capitol’s Memorial Hall in Bismarck, N.D. Looking on are Andrea Toman, left, director of the Liberty North Dakota political action committee, and Dustin Gawrylow, center, a spokesman for a coalition of groups that oppose the new federal health care law. Narloch, Toman and Gawrylow appealed to the North Dakota Legislature on Monday to continue its opposition to state administration of a health care insurance exchange, which is a mechanism contained in the federal law to broaden insurance coverage. (AP Photo/Dale Wetzel)

The royal barge Gloriana carries the Olympic flame along the river Thames, ahead of the 2012 Summer Olympics, on the final day of the Torch Relay, Friday, July 27, 2012, in London. The opening ceremonies for the 2012 London Olympics will be held Friday evening. (AP Photo/Kirsty Wigglesworth)

Republican presidential candidate, former Massachusetts Gov. Mitt Romney arrives at 10 Downing Street in London, Thursday, July 26, 2012. (AP Photo/Jason Reed, Pool)

Specialist Philip Finale, left, works at his post on the floor of the New York Stock Exchange Thursday, July 26, 2012. U.S. stocks soared at the opening bell after the president of the European Central Bank vowed to do what it takes to preserve the continent’s monetary union. (AP Photo/Richard Drew)

Treasury Secretary Timothy Geithner testifies on Capitol Hill in Washington, Thursday, July 26, 2012, before the Senate Banking Committee hearing: “The Financial Stability Oversight Council Annual Report to Congress.” (AP Photo/Haraz N. Ghanbari)

House Speaker John Boehner of Ohio, stands next to a portrait of former President George W. Bush as he waits to speaks with reporters on Capitol Hill in Washington, Tuesday, July 24, 2012, following a House GOP caucus meeting. In the final week before the August break, the Republican-controlled House is set to vote on a bill to extend for one year the Bush-era tax cuts, including those for wealthier people, a bill that the Senate would likely reject. (AP Photo/J. Scott Applewhite)