IsraelAn explosive report published late last week by the magazine Foreign Policy, citing half-a-dozen current and former U.S. intelligence officers, claimed that spies with Israel’s Mossad agency were posing as Central Intelligence Agency (CIA) agents to recruit terrorists for a covert war against Iran. An Israeli official, however, dismissed the allegations as “nonsense.”

Pal SchmittThe European Commission (EC) on Tuesday threatened to take legal action against Hungary unless it revised its brand new constitution to allow the country’s central bank to operate without interference from the Hungarian government. The EC’s threat requires a response within 30 days.

As Iraq flexes its muscle following the departure of U.S. troops, and as Iran continues to challenge the “international community” relative to its nuclear program, the civil unrest in yet another Middle Eastern country is reaching critical mass and threatens a call for more “Western intervention” in the region.

Gun fights south of Tripoli between rebel militias and forces still loyal to the late Libyan despot Moammar Gadhafi left several dead and dozens wounded over the weekend, according to news reports. And it is not over yet.

U.S. credit ratings giant Standard & Poor's (S&P) lowered its rating on the credit-worthiness of nine European nations January 13. "It's not the cut in the rating that is historic," BNP Paribas economist Dominique Barbet told the Wall Street Journal. "It's the depth of the euro crisis that is historic."

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