CELACLeaders of Latin American and Caribbean governments gathered in Caracas, Venezuela, on Friday and Saturday to forge a new regional organization that includes representatives from every country in the Western Hemisphere except the United States and Canada. According to socialist rulers backing the new scheme, it is aimed at providing a counterweight to U.S. “imperialism” in the region while promoting “integration.” The communist regime ruling mainland China celebrated the news and vowed to support the group.

Goodluck JonathanThings just got a little bit tougher for homosexuals in Nigeria. The African nation’s Senate has made homosexual activity punishable by more than a dozen years in prison.

eurosEconomist and TV personality Larry Kudlow explained that the decision on Wednesday by many of the world’s central banks made it easier for European banks to borrow dollars from the Federal Reserve.

euroThe European crisis continues to mushroom, even as Eurocrats meet in Brussels to try to stave off implosion of the eurozone. Tuesday’s sale of Italian debt forced the government of Italy again to accept interest rates or “yields” in excess of seven percent, a level proven by experience to be unsustainable. Thursday will be another bellwether day, as Spain and Belgium — both of whose bonds are commanding steep yields — auction off debt of their own. But at the rate interests on government debt are rising across the eurozone, a few more weeks could write the epitaph for the once-touted international currency.

The British government is looking for a way to jumpstart its stagnant economy. The plan is to use pension funds to invest in big construction projects to the tune of $46.5 billion.

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