The debt crises of European Union member-states have reached critical mass. Three of the "PIIGS" nations — Portugal, Ireland, and Greece — and likely the other two — Italy and Spain — are simply too deeply in debt to pay off the principal and interest on national government bonds without massive help from other European nations, specifically Germany. And Germans are increasingly upset at how their government and that of France are attempting to solve the catastrophe.

Hugo ChavezIn today’s extremely unsettled financial climate, one can hardly blame Venezuela or its erratic leader, Hugo Chavez, for deciding to bring home the gold.

The European Union has threatened Sweden with legal action unless it rescinds its first issuance of wolf-hunting licenses in 45 years. Swedish Minister for the Environment Andreas Carlgren announced that his country has no wish to engage in long legal proceedings in Brussels, the de facto capital of the European Union, which would be the next step if the EU member-state failed to comply.

Former Secretary of State Henry Kissinger has been riding the promotion circuit since his latest book, On China, was released on May 17 by Penguin Press. The release was timed to precede the 40th anniversary (July 9, 1971) of his secret trip to China that is credited with opening relations between the United States and the Communist regime of Mao Zedong (which was then assisting the Communist forces that were killing American troops in Southeast Asia).

The North Atlantic Treaty Organization (NATO) is being heavily criticized for civilian casualties and a series of bombings apparently targeting essential non-military infrastructure in Libya, with some observers calling the actions war crimes. The Libyan rebels being supported by coalition forces have also been accused of wanton savagery and even crimes against humanity.