Moody’s Investors Service announced on July 12 that it was downgrading Italian government bonds by two notches in response to the continuing financial problems of Europe. The Italian bond rating went from A3 to Baa2, which makes the sovereign debt instruments of seventh largest economy of the world just two notches ahead of “junk bonds.” The move — which surprised Italian officials — came at a bad time for the Italian government, which was auctioning off €5.25 billion on Friday.
The unborn are now a little safer in Liechtenstein.
Voters have upheld the right of Crown Prince Alois Philipp Maria of the Central European principality to veto referenda passed by voters — a right that was threatened after he promised to veto a referendum to legalize abortion.
That referendum failed, but introducing what Ann Coulter calls the liberals' "holiest sacrament" of abortion into the Catholic monarchy could have ended the political role of its royals had voters taken away the prince’s right to veto referenda.
After the German government ratified the European Stability Mechanism, a permanent eurozone bailout package, opponents within Germany asked the nation's Constitutional Court for a temporary injunction against the ESM. The court will then rule on the constitutionality of the bailout scheme, possibly leading to a eurozone breakup.
Despite conventional wisdom and reports from the mainstream media, the present day actions of the Russian Federation, led by Vladimir Putin and Dmitry Medvedev, reflect little to no deviation from the strategic anti-Western polices set forth by the Soviet Union, during the Cold War.