Today the German parliament voted overwhelmingly, 523-85, to increase the size of the European Financial Stability Fund (EFSF) from $335 billion to $600 billion, and to allow it to purchase sovereign bonds, lend to profligate governments, and strengthen banks hurt by holding risky government debt.
In what appears to be another incident in a troubling trend across Great Britain, police in the community of Blackpool in northwest England have threatened the owner of a Christian coffee shop with arrest for displaying Bible passages on a television screen in his shop.
A member of Britain’s Parliament has declared that Christian churches that do not perform homosexual “marriage” ceremonies should be denied the right for their pastors to contract a legally-binding marriage on behalf of the government.
In what many say is political correctness run amok, British schools have banned black witch hats for children, claiming that they are "racist." So-called diversity and equality experts in the United Kingdom assert that because the wicked witch appears in a black hat, while fairies — typically associated with sweetness and light — are often clad in pale, glistening colors, children are being indoctrinated to believe that all things light or white in color are by nature “good,” while those that are black are inherently “bad.”
Apparently the Federal Reserve is not the only entity threatened by gold. Central banks in Europe are restricting the sales of precious metals, presumably threatened by the fact that citizens are increasingly abandoning the devalued paper currencies and preserving their wealth by purchasing gold and silver.
While America's President shrinks from facing the demographic catastrophe lurking a decade or two down the road for Social Security, Medicare, and public pensions, there is evidence in Germany that such a debacle might be avoided — and a glimmer of hope in France. Last year French President Nicolas Sarkozy raised the retirement age in his country from 60 to 62 — for which he endured weeks of demonstrations and a lessening of his popularity.
Italian authorities vowed a few days ago to send home more than a thousand Africans who invaded the isle of Lampedusa after leaving Tunisia and Libya to seek fortune in Europe. The latest pronouncement from Italy, London's Telegraph reported, came after the detained illegal aliens set fire to the facility in which they were housed.
The announcement by Kaspar Villiger (left), Board Chairman of UBS (Union Bank of Switzerland), that CEO Oswald Grübel had resigned on Saturday caught many by surprise, partly because just the day before he had said he had the board’s complete support. According to Villiger, “The Board regrets Oswald Grübel’s decision. Oswald Grübel feels that it is his duty to assume responsibility for the recent unauthorized trading incident.” He added:
Since France passed legislation earlier this year banning the Islamic burqas, or face-veils, from its streets, the law has engendered a wave of protest. Now, in a show of opposition against the ban, an Islamic Frenchwoman, Kenza Drider, has decided to launch a bid for the French presidency. “When a woman wants to maintain her freedom, she must be bold,” she asserted.
Authorities in the United Kingdom have arrested seven suspects in connection with a terror plot. British intelligence raided more than a dozen homes and collared six men and a woman between midnight and about 7 a.m. Monday, according to news reports. They are connected, the New York Times reported, to “Islamic militancy,” which describes yet another plot by “British citizens” who are really "Asians" or of another nationality. Typically, those words are media code for Muslims.
The sovereign debt woes of the European Union are nearing a critical stage. Greece's short-term bonds have recently shot to 60 percent, indicating an extremely high probability that the ancient country will default. Though Portugal and Spain, two of the other “PIIGS” member-states in the EU, are temporarily off the radar screen, neither has solved its fundamental debt problems.