The Irish Central Bank announced yesterday that its banks will need an additional €24 billion (or about $34 billion) in the next few months to show investors and account holders that the banks will not collapse in the near future.
It appears as if the scenario envisioned in Camp of the Saints, an apocalyptic novel in which Third World migrants swamp and destroy Western civilization, really has come to Lampedusa, the small Italian isle about 127 miles southwest of Sicily in the Mediterranean Sea.
Mark Twain once observed, "History has tried hard to teach us that we can't have good government under politicians." So far, Belgium has found that it is hard to have any government under politicians. Yesterday, this polyglot nation of two major linguistic groups, Flemish and Walloon, set the world record among countries with parliamentary systems for going the longest time after a general election without any government being formed (Iraq, “saved” by American forces, held the old record of 288 days).