European leaders reached an agreement over the weekend on bailing out the profligate Greek government with up to $40 billion in taxpayer-funded loans at below-market interest rates, easing fears of a default but prompting outrage among Europeans.
The Socialist government of Greece has announced an austerity program that freezes pensions, cuts the salary of civil service employees, and increases taxes as a way of restoring confidence in the ability of Greece to meet its financial obligations. The government of this Mediterranean nation suffers from the same sort of extravagant spending and imprudent long-term obligations that have wreaked havoc in other European nations like Portugal, Spain, Italy, and Iceland. The actions of the Greek government have not worked.
After a 10-year hiatus in public viewing, the Shroud of Turin will again go on display from April 10 to May 23 at the cathedral in Turin, Italy. The 14-foot-long, 4-foot wide, linen fabric with the image of a naked, bloody, bearded man is regarded by millions of Christians to be the burial cloth that covered the body of Jesus Christ in the tomb after his crucifixion. The image of the Man in the Shroud, they believe, was miraculously formed. Skeptics claim it is a medieval forgery, so longstanding arguments about it are certain to be raised again in the media.
As the implosion of Venezuela’s economy accelerates and the capital Caracas remains plagued by power outages, socialist “President” Hugo Chavez and the Russian regime announced myriad new agreements including a multi-billion dollar proposed arms package and increased cooperation in the fields of nuclear energy and oil exploration.