USA - President Obama will sign legislation imposing new economic sanctions on Russia, the White House said Tuesday, as the US claimed some credit for sparking Moscow's roiling currency crisis and moved to deepen the pain.
EUROPE - The Single Resolution Mechanism (SRM) will be launched over the next three months, with the aim of rescuing or winding up stricken banks with minimal recourse to taxpayers’ money. The SRM will consist of a board and a fund, and will cover banks overseen by the Single Supervisory Mechanism (SSM) which became operational last month, and represents a concluding part of the new Banking Union. The board will have broad powers to prepare for the resolution of stricken banks. Upon notification from the ECB that a bank is failing or likely to fail, the board will adopt a resolution scheme including relevant resolution tools and determine how much of the Single Resolution Fund should be used. The board will monitor national resolution authorities’ decisions, but has the power to intervene if national resolution authorities do not comply with its decisions.
GREECE - A Syriza election victory threatens default and disorderly exit from the euro for Greece. This would be a disaster for all. But done properly, the reintroduction of sovereign currencies within the eurozone would provide a bright new beginning. In the event of a Greek default, its new currency would plummet, inflation would climb, and pretty soon Greeks would be experiencing something close to the full scale economic wipe-out. There is no chance whatsoever of Greece, or for that matter several other periphery Eurozone economies, repaying their debts. For Greece, this would be the same with or without Mr Tsipras’s unhinged political agenda. Only the creditor nations of the north refuse to acknowledge this reality. The current set-up is completely unsustainable.
USA - Dimly lit, the stone slab, or stele, doesn’t look particularly noteworthy, especially when compared to the more lavish sphinxes, jewelry and cauldrons one encounters en route to the room where it is installed. What’s significant about this stone — on view at the New York Metropolitan Museum of Art as part of its “Assyria to Iberia at the Dawn of the Classical Age” exhibit running through January 4 — is its inscription: the earliest extra-biblical reference to the House of David.
ISRAEL - Ancient Hanukkah was a military victory by the Jewish Maccabees over the foreign domination of Israel by the Hellenistic Syrian Seleucids. In some ways, it looks like - modern Zionism. It's about Jewish ideals and survival. It's about the willingness to fight in order to survive as a nation in the Land of Israel.
USA - Though it was reluctant to do so, a Pennsylvania court has issued an order that requires a Philadelphia man to pay hundreds of thousands of dollars worth of taxes that he doesn't even owe. As reported by PennLive.com, Commonwealth Court imposed the order for $280,772 in taxes on Nathan Lerner, even though city officials had acknowledged on the record that the tax bill he received was a "jeopardy assessment" that was based on pure fabrication.
USA - Inequality in America today is twice as bad as in ancient Rome, worse than it was in Tsarist Russia, Gilded Age America, modern Egypt, Tunisia or Yemen, many banana republics in Latin America, and worse than experienced by slaves in 1774 colonial America.
GERMANY - A Nazi guide to Christmas - in which the Virgin Mary becomes German and the Archangel Gabriel is turned into an Ayran goddess - has been unearthed in an archive in the city of Dresden. As well as listing precise instructions for decorating the Christmas tree, faithful yuletide revellers were to be ordered to ditch Christmas carols in favour of more 'Germanic' ditties extolling motherhood, harvests and nature.
EUROPE - The European Union’s new foreign-policy chief said the bloc would try to step up co-operation with Russia and Iran over Syria, signaling a shift in Europe’s efforts to end the war there. The comments by Federica Mogherini, the EU foreign-policy chief, came after European foreign ministers on Monday threw their support behind a United Nations effort to negotiate a military “freeze” in Syria, starting in the besieged city of Aleppo.
PAKISTAN - A teacher is believed to have been burned alive while her pupils were forced to watch as Taliban gunmen stormed a school in Pakistan in an apparent revenge attack for Malala Yousafzai winning the Nobel Peace Prize. Nine Taliban terrorists attacked the Army Public School in the north-western Pakistani city of Peshawar today, slaughtering 132 children in the deadliest terrorist attack in the nation's history. Harrowing eyewitness accounts revealed how students were forced to watch as bodies were burned beyond recognition. Other survivors told how they played dead while insurgents scoured the school looking for children to shoot.
USA - For the wretched souls addicted to Facebook, you are their economic engine. They mine your data, run facial recognition software on your pictures and you tell them everything about yourself, and everything about everyone you know. Governments are salivating at the idea of learning more about you and Facebook offers you up on a silver platter.
USA - Sony hack and theatre pullback reveals new era of hackers trouncing multinational corporations. Note the day of December 16th, 2014. That day will mark a milestone in history because it was the first time a US cinema chain censored the launch of a movie due to threats from hackers.
CANADA - An historic milestone in the 9/11 Truth Movement has been achieved by a dedicated group of activists in Ottawa, Ontario, with the presentation of a petition in the House of Commons requesting a "parliamentary review of the omissions and inconsistencies in the official United States of America 9/11 Commission Report."
UK - If you thought you had teenage internet speak cracked by getting to grips with acronyms such as 'LOL' (for 'laugh out loud') and 'LMK' (for 'let me know'), think again. Do you know the meaning of 'IWSN' or 'GNOC'? Considering these are acronyms for 'I want sex now' and 'get naked on camera' used by youngsters, it's probably a good idea that parents do.
USA - Eleven trillion gallons — that's the amount of water that NASA scientists say would be needed to replenish key California river basins in what they're calling the first-ever estimate of the water necessary to end an episode of drought. That 11 trillion gallons is the deficit in normal seasonal levels that NASA said a team found earlier this year in the Sacramento and San Joaquin river basins, using Gravity Recovery and Climate Experiment (GRACE) satellites.
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The views expressed in this section are not our own, unless specifically stated, but are provided to highlight what may prove to be prophetically relevant material appearing in the media.