VATICAN - The Vatican Bank is under media fire as reports emerge that Italian prosecutors suspect it of laundering Sicilian mafia bosses’ riches. The Institute for Works of Religion, commonly known as the Vatican Bank, has so far refused to disclose details of an account held by a priest in connection with a money laundering and fraud investigation.
USA - After five years of toil, a consortium of several hundred US researchers has released a detailed census of the myriad bacteria, yeasts, viruses and amoebas that live, eat, excrete, reproduce and die in or on us.
UK - Fewer than half of young UK adults know butter comes from a dairy cow and a third do not know eggs come from hens, according to a survey. More than a third of 16 to 23-year-olds (36%) do not know bacon comes from pigs and four in 10 (40%) failed to link milk with an image of a dairy cow, with 7% linking it to wheat, the poll of 2,000 people for charity Leaf (Linking Environment and Farming) found.
GREECE - Greeks pulled their cash out of the banks and stocked up with food ahead of a cliffhanger election on Sunday that many fear will result in the country being forced out of the euro. Bankers said up to €800 million ($1 billion) were leaving major banks daily and retailers said some of the money was being used to buy pasta and canned goods, as fears of returning to the drachma were fanned by rumors that a radical leftist leader may win the election.
IRAN - Iranian state-run media has published a commentary that stated, "The Islamic world should rise up and shout that a nuclear bomb is our right.” The regime under Iranian President Mahmoud Ahmadinejad has constantly stated that its nuclear program is for peaceful purposes.
MOSCOW, RUSSIA/BERLIN, GERMANY - The Russian president is setting new accents in foreign policy and thereby threatens to weaken German influence in Russia. Vladimir Putin, who, spent only a few hours in Germany on his first official visit to Berlin, has arrived in Beijing for a three-day visit, where he announced his wish to expand relations with China.
GERMANY - Germany's central bank has shot down EU proposals for a European banking union, warning categorically that eurozone liabilities cannot be shared without a fundamental shift towards fiscal and political union.
UK - Britain has hit out at EU autocrats today after an attempt was made by the European Commission to gain control of British banks. EC President Jose Manuel Barroso today suggested that all 27 EU members should sign up to a banking union, within which EU officials would regulate and supervise all transactions.
GERMANY - Opposition parties in Germany are demanding answers about the sale of nuclear-capable submarines to Israel, while Israeli Prime Minister Benjamin Netanyahu has said that the vessels are "very important" for his country's security. Media commentators argue that Germany has a historical duty to support the Jewish state.
GERMANY - Germany pledged to crack down on right-wing extremists following the exposure of a far-right terrorist cell last year. But in rural parts of the eastern state of Saxony, neo-Nazis remain well established in local councils and continue to intimidate people at will, unhindered by the police.
EUROPE - As the focus of the euro crisis shifts to Italy, IMF head Christine Lagarde has warned that EUROPEAN LEADERS HAVE LESS THAN THREE MONTHS TO SAVE THE EURO. Meanwhile top economist Nouriel Roubini has called on Berlin to drop its obsession with austerity, proposing that the German government give every household a €1,000 voucher to spend on a vacation in Southern Europe.
GERMANY - The European Union was created to avoid repeating the disasters of the 1930s, but Germany, of all countries, has failed to learn from history. As the euro crisis escalates, Berlin should remember how the banking crisis of 1931 contributed to the breakdown of democracy across Europe. Action is urgently needed to stop history from repeating itself.
EUROPE - The Asian markets are something of a canary in the coalmine when it comes to foreseeing how the day will unfold for European and US financial markets. And on Tuesday, that canary was looking woozy indeed.
USA - The Vatican stressed its authority over a group of US nuns rapped for defying Church doctrine on Tuesday, as a delegation met Holy See doctrinal officials to put their case. The Leadership Conference of Women Religious (LCWR), which represents around 80 percent of the 45,000 nuns in the United States, "remains under the supreme management of the Holy See", Vatican spokesman Federico Lombardi said.
USA - It has become a familiar choreography for the Federal Reserve: Officials ease monetary policy, and the economy improves. Then conditions weaken, reviving debate about the need for further stimulus. The central bank again finds itself at that difficult juncture heading into a meeting next week.