Even as the European Union is bankrupting itself with bailouts, the EU’s top Monetary Affairs Commissioner Olli Rehn said on Wednesday that the €440 billion ($570 billion) bailout fund for struggling European nations should not only be increased but given more powers. According to Rehn, the eurozone governments are currently considering the proposal to increase the size of the funds.

The European Union announced today that they would be reinstating a travel ban against Belarusian President Alexander Lukashenko and 40 of his close associates, following his crackdown on political opponents in the country’s elections, which were held on December 19, 2010. 

The outlook for the sale today of three- and nine-year bonds by the government of Portugal is still cloudy, but late-breaking news that Japan has committed to buy bonds from the European bailout fund and that the Portuguese deficit has actually declined in the face of self-imposed austerity measures may betoken a turnaround for Europe’s southwesternmost country.

When Governor Salman Taseer was murdered by his own bodyguard, “moderate Muslim” scholars in Pakistan greeted the assassination with cries of adulation. As was reported previously for The New American, a statement issued by the 500 scholars upheld the murder of the governor of Punjab as an example of Islamic justice in action; since Taseer sought to defend a Christian woman who had been unjustly sentenced to death for “blasphemy” against Islam, it was — they believed — only right that he be murdered as well. In the words of their statement: “The supporter is as equally guilty as one who committed blasphemy.”

EUIn a November 16, 2010 speech, European Union President Herman Van Rompuy warned that the eurozone economic crisis threatened the very existence of the EU. “We’re in a survival crisis,” Van Rompuy said. “We all have to work together in order to survive with the euro zone, because if we don’t survive with the euro zone we will not survive with the European Union.”