EUROPE - Eurozone says it is "legally impossible" to return €1.2 billion in rescue funds to cash-strapped Athens. The Greek government will not receive €1.2 billion (£883 million) in European rescue funds after officials ruled the Leftist government had no legal claims on the cash. Athens requested a return of the funds it said were erroneously handed to creditors from Greece's own bank recapitalisation fund, the Hellenic Financial Stability Facility (HFSF).
GREECE - It's possible that the troubled country will leave the eurozone, according to the billionaire investor. The investment veteran George Soros has said that Greece’s attempts to escape its financial woes are now a “lose-lose game”, and has estimated the chances of the country leaving the eurozone at about even.
UK - Michael Fallon, the defence secretary, will announce plans to bolster the Falkland Islands garrison amid fears of a renewed threat from Argentina. The south American nation is feared to be increasing military expenditure. Senior ministers in the country have also made a series of increasingly aggressive statements about the islands in recent years.
FALKLAND ISLANDS - Extra Chinook helicopters and new missile system to be sent to be deployed, as Russia likens Islands to Crimea. Britain will send two troop-carrying Chinook helicopters and new surface-to-air missile system to the Falkland Islands, amid fears Russia could be arming the Argentine government. Michael Fallon, the Defence Secretary, said the Islands will be ready to repel “any potential threat” following reports that the Kremlin is preparing to lease 12 Su-24 long range bombers to Buenos Aires in exchange for beef and wheat.
RUSSIA - The Russian proposal would allow Britons to travel overland from Britain to the United States. Plans for an ambitious 12,400-mile superhighway linking the Atlantic and the Pacific are reportedly being considered by Russian authorities. The Trans-Eurasian Belt Development would see the construction of a vast motorway across Russia. It would connect with existing networks in Europe, making road trips to eastern Russia a far easier proposition. While roads do currently run across most of Russia, the quality tends to deteriorate the further you travel from Moscow.
USA - With 1.4 billion users, the social media site has become a vital source of traffic for publishers looking to reach an increasingly fragmented audience glued to smartphones. In recent months, Facebook has been quietly holding talks with at least half a dozen media companies about hosting their content inside Facebook rather than making users tap a link to go to an external site.
UK - Instead of making an open declaration, the BBC’s successful lobbying for this money had to be prised out of it using a Freedom of Information (FoI) request lodged for The Spectator, proving that there was never any danger of the state broadcaster’s bosses volunteering it willingly.
USA - Instead of congratulating the Israeli people for being one of the few countries in the Middle East to hold real free and democratic elections, Obama has decided to inflict collective punishment not on Netanyahu, but on all Israelis, even its Muslim and Christian citizens, for having an election that came out not the way he wanted it to.
MIDDLE EAST - Many Arabs and Muslims are rubbing their hands in joy as they watch US President Barack Obama declare war on Israel after the victory of Benjamin Netanyahu's Likud Party in last week's general election. They do not see the rising tensions between Obama and Netanyahu as the result of a personal dispute between two leaders.
USA - The US has accused Israel of spying on international negotiations over Iran’s nuclear programme and using the intelligence gathered to persuade Congress to undermine the talks, according to a report on Tuesday. The Wall Street Journal cited senior administration officials as saying the Israeli espionage operation began soon after the US opened up a secret channel of communications with Tehran in 2012, aimed at resolving the decade-long standoff over Iran’s nuclear aspirations.
USA - White House Chief of Staff Denis McDonough made it clear Monday that the crisis in US-Israeli relations over the issue of a Palestinian state has not dissipated, despite efforts by Prime Minister Benjamin Netanyahu to clarify remarks he made late in the election campaign that no such state would be established on his watch.
USA - The Air Force doesn't have enough fighter pilots in its active duty cockpits due to forced structure cuts and increased airline hiring, leading to a long-term drop in those available to train new pilots and test new aircraft, service leaders told lawmakers Thursday.
USA - The trip to pick up a load of iron ore powder in Conneaut, Ohio, was supposed to take four days by way of the Great Lakes. But within sight of its destination, the cargo ship, the Arthur M. Anderson, got trapped in ice. Two heavy icebreakers from the Canadian Coast Guard eventually broke the vessel free.
EUROPE - In Europe nary a day seems to go by without some mention or rumor of a bank run or bank closure. Ground Zero of the current troubles is Greece, whose broken financial system is now wholly dependent on regular infusions of euros from the ECB. The moment those infusions stop – something the ECB has warned could happen at any time – the country’s banking system collapses.
USA - Don’t look now, but Washington just blinked. As we’ve documented exhaustively over the past week, pressure has been building steadily for the US to strike some manner of conciliatory tone towards China with regard to the Asian Infrastructure Investment Bank, a China-led institution aimed at rivaling the US/Japan-backed ADB. Britain’s decision to join China in its new endeavor has prompted a number of Western nations to throw their support behind the bank ahead of the March 31 deadline for membership application.