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German Chancellor Merkel plans to use the EU’s month-end meeting to “push ahead with plans for a political union, including more sweeping powers for Brussels” (EU Observer, June 7, 2012). According to Mrs. Merkel, “That means that step-by-step in the future we have to give up more powers to Europe and grant Europe more oversight possibilities” (ibid.).
“Germany has three months to save the euro,” says billionaire George Soros (Telegraph, June 3, 2012). Soros suggested the “summer window” could allow Germany and the Bundesbank to save the EU’s sinking ship because “in a crisis the creditors are in the driver’s seat and nothing can be done without German support” (ibid.).
Der Spiegel’s attention-getting cover article this week announced that Germany developed and built submarines for Israel, along with nuclear-capable cruise missiles (June 4, 2012). Germany has supplied Israel with three subs at a substantial discount—thus helping the Israelis pay for the subs. Three more are scheduled to be delivered to Israel in the next five...
June 1 marked an historic event between close trade partners—Japan and China. Japan is China’s largest trade partner and the two nations are growing closer together. On June 1 the two began trading directly in their own currencies instead of in U.S. dollars. This direct currency exchange will bolster their relationship and could be used by China to press for...
The San Francisco Board of Supervisors recently voted overwhelmingly to urge the U.S. Navy to name a vessel the “USS Harvey Milk.” Harvey Milk was one of the first openly homosexual politicians in the U.S. and served on the San Francisco Board of Supervisors. In order to determine if the idea was a good one, the Board consulted the spirits.
This week the United States Congress is debating a bill that would prohibit abortions on the basis of the sex of the unborn child.
Some politicians claim the U.S. economy is rising from the ashes even while Europe’s financial situation melts down. However, numerous analysts believe more turmoil remains for the United States. In Europe, Britain gives wise financial advice but continues to “borrow” endlessly without fixing its own financial problems. According to one financial analyst, “...
Noted economic historian Niall Ferguson observed in a recent interview that the only real solution to Europe’s financial crisis is a full fiscal union—a true United States of Europe—that would be unquestionably under the leadership of the financial powerhouse, Germany. Ferguson believes Europe could limp along for a while with Greece falling into step with EU...
Tensions in a resource-rich region of central Asia threaten to disrupt a 25-year ceasefire between Armenia and Azerbaijan. The two nations signed a treaty after the Nagorno-Karabakh War (1988-1994). However, in a direct provocation, Azerbaijani troops entered Armenia and killed three out-of-uniform soldiers. An Armenian military source stated, “The killing is...
Recently, a radical Muslim preacher told thousands of Muslim Brotherhood supporters in Egypt, “We can see how the dream of the Islamic caliphate is being realized, God willing, by Dr. Mohamed Mursi [the movement’s presidential candidate]... The capital of the caliphate—the capital of the United States of the Arabs—will be Jerusalem, God willing… Our capital...