ISRAEL - Proclaiming invective words before a crowd at the Al Aqsa Mosque — built right on top of the Temple Mount (orthodox Jew’s holiest site) — a Muslim cleric sounded off a foreboding sermon threatening Jews, telling them “the time to kill you has come.” In what is being interpreted as an aggressive summonsing of ISIS — The Islamic State terrorist group overtaking the Taliban as the most brutal jihadist outfit on the planet — Sheik Omar Abu Sara yelled out a prophetic message, citing the Islamic holy book, the Quran.
EUROPE - A top court of the European Union has annulled the bloc's decision to keep the Palestinian Islamist movement Hamas on a list of terrorist groups. The decision had been based not on an examination of Hamas' actions, but on "factual imputations derived from the press and the internet", judges found. The court said the move was technical and was not a reassessment of Hamas' classification as a terrorist group. It said a funding freeze on the group would continue for the time being.
TEMPLE MOUNT, JERUSALEM, ISRAEL - Arab spokesmen, unlike their Israeli counterparts, are not ashamed to be “intransigent” or to cherish territory. Arab spokesmen, unlike most of their Jewish counterparts, are not ashamed to make the Temple Mount the center of their new war against Israel. Arab spokesmen care so much about the site that they can claim that Abraham wasn’t a Jew, that Jews never had a Temple in Jerusalem, that Jews in Biblical Israel are “the descendants of monkeys and pigs”.
EUROPE - Europe's banks are vulnerable in 2015 due to weak macroeconomic conditions, unfinished regulatory hurdles and the risk of bail-ins according to credit rating agencies.The truth is that banks in most western nations are vulnerable to bail-ins in 2015 and the recent G20 meeting in Brisbane was a further move towards the stealth bail-in regimes.
USA - Is this the start of the next major financial crisis? The nightmarish collapse of the price of oil is creating panic in financial markets all over the planet. On June 16th, US oil was trading at a price of $107.52. Since then, it has fallen by almost 50 dollars in less than 6 months. This has only happened one other time in our history.
UK - The FTSE 100 suffered its worst week for more than three years, with more than £100 billion wiped off the value of Britain’s biggest companies after investors took fright at signs of a Chinese slowdown, the oil rout and looming elections in Greece, plunging global stock markets into turmoil. Globally, more than $1 trillion was wiped from equities this week, while the Vix index, a US measure of volatility, rose 70 percent.
USA - Six years after the collapse of Lehman Brothers, the lessons of the financial crisis may already be fading from collective memory. Just last week:
— Congress acted to loosen the regulation of the high-risk investments that ignited the 2008 crisis.
— Housing regulators cut minimum down payments on home loans.
— The Institute of International Finance declared it "worrisome" that global indebtedness, as a share of world economic output, has reached record levels.
SAUDI ARABIA - Today, Saudi Arabia is once again using its “oil weapon,” but instead of driving up prices and cutting supply, it’s doing the reverse. In the face of a global slide in oil prices since June, the kingdom has refused to cut its production, which would help to drive prices back up. Instead, the Saudis led the charge to prevent OPEC from cutting production at the cartel’s last meeting on November 27. The consequences of Saudi policy are impossible to ignore. After two years of stable prices at around $105 to $110 a barrel, Brent blend, the international benchmark, fell from $112 a barrel in June to around $65 on Friday.
UK - The oil market faces an uncertain outlook in 2015 as tumbling prices resulting from global oversupply stoke geopolitical tensions in key producers of crude, analysts say. Oil prices have lost around half their value since June, punished by abundant supplies, a stronger dollar and weak demand in the faltering world economy. Analysts say they want lower prices, even if it slashes incomes, to counter the rise of US shale oil - which is more expensive to produce and eats into OPEC's market share. However at the other end of the scale, oil producers Venezuela, Nigeria, Iran, Iraq and Russia are desperate for prices to rise so they can balance their books and salvage their teetering economies.
RUSSIA - A plunge in oil below $60 and the failure of an emergency interest rate rise to stabilise Russia's rouble sent another shock through global financial markets on Tuesday, adding to a growing sense of crisis in a volatile end to 2014. Moscow's main stock exchanges fell by 5 and 9 percent respectively .MCX10 .IRTS and those in Europe's big developed markets fell as much as half a percent in response. Crude prices fell again, by nearly 3 percent. Brent crude LCOc1 was under $60 for the first time in more than five years after OPEC said again it would not cut output despite fears of oversupply. UAE Oil Minister Suhail Bin Mohammed al-Mazroui said there was no need for OPEC to hold an emergency meeting, reinforcing the idea that major Gulf producers are ready to wait out lower prices.
GERMANY - Israel is buying four ships from Germany with a total value of one billion euros, German newspaper Bild am Sontag reported Sunday, claiming possession of a leaked official memo, and Berlin will contribute a significant amount of funding. The project will be funded largely by Israel, but the German government plans to invest 115 million euros in the construction project. The ships are being built at the ThyssenKrupp shipyard in the northern port city of Kiel, the newspaper said. It was previously reported that Navy ships are securing Israel's offshore gas facilities, for fear that this strategic installation will be the target of an attack.
GERMANY - Its members have been dubbed the “pinstriped Nazis” and they refer to their demonstrations as “evening strolls” through German cities. But on Monday night, an estimated 15,000 people joined Pegida, or Patriotic Europeans Against Islamisation of the West, in a march through Dresden carrying banners bearing slogans such as “Zero tolerance towards criminal asylum seekers”, “Protect our homeland” and “Stop the Islamisation”.
USA - President Barack Obama’s goal of closing the Guantanamo Bay prison complex in Cuba has met heavy resistance from lawmakers in Washington, and now the White House is turning to a higher authority for help: the Vatican. During an hour-long meeting with Cardinal Pietro Parolin on Monday, Secretary of State John Kerry asked the Vatican to help the United States find “adequate humanitarian solutions” for inmates currently being held at Guantanamo. Pope Francis himself has stressed that all prisoners should be treated humanely and with dignity.
GERMANY - The EU and the USA are having little success in inducing friendly nations to join their sanctions against Russia. Following a visit by the EU's Foreign Policy Representative, Federica Mogherini, Ankara announced, Monday, Turkey will not support these measures, but rather continue its cooperation with Moscow. In India, as well, one hears in the lead-up to Russian President Vladimir Putin's visit - which begins today - that cooperation will be continued, because of common interests, for example to defuse Cold War-like tensions. India, along with other countries previously particularly close to the West - such as South Africa and Brazil - have a differentiated view of the Ukrainian conflict, a view, which does not exclude the West's role.
GERMANY - The year began with the announcement by senior government politicians that Germany would have to take more responsibility in foreign policy. As the end of 2014 approaches, the intention is now to launch in Iraq a military operation that would violate all the constitutional restraints on such a move and serve as a precedent for the unrestricted use of German armed forces throughout the world.