Let us be perfectly clear: The fiscal woes of Greece, one of the European Union’s weaker economies to begin with, are quite likely beyond even the abilities of the denizens of Mount Olympus to solve. Greece, a thoroughgoing socialist basket case for decades, is probably going to lead the rest of the soft economic underbelly of Europe — Spain, Portugal, and eventually Italy — into insolvency, a chain of events that may dissolve Europe’s decades-old experiment in economic unity.
The United Kingdom has banned two government-funded advertisements for exaggerating claims of catastrophic man-made global warming. The independent media watchdog organization, Advertising Standards Authority (ASA), ruled that mainstream climate science does not support assertions made in the ads, reports the Daily Mail.
The United Nations is launching an independent review of its climate agency, the Intergovernmental Panel on Climate Change (IPCC), which has weathered harsh criticism due to numerous problems with its 2007 comprehensive climate report. UN Secretary-General Ban Ki-moon and IPCC Chair Dr. Rajendra Pachauri announced the review at a press conference at UN Headquarters in New York.
Iceland’s recent vote not to repay billions of dollars owed to Britain and the Netherlands underscores the growing risk involved in bailing out sovereign debtors. When Icesave, an Iceland-based Internet bank, collapsed back in 2008 along with most of Iceland’s banking sector, the tiny North Atlantic nation nearly collapsed along with it. Fortunately for the short term, Britain and the Netherlands agreed to bail out Iceland’s depositors in Icesave.
Not content with the constant video surveillance of her subjects, Her Majesty’s government has now begun monitoring their rubbish, as well. According to information obtained by the pro-privacy group, Big Brother Watch, various councils (local municipal governments) have surreptitiously planted 2.6 million of the microchips in the garbage bins of unsuspecting Britons.