EUROPE - Germany should leave the euro zone if it is not prepared to take a more decisive lead in helping the euro zone's weaker nations escape a spiral of increasing indebtedness and economic decline, veteran financier George Soros said on Saturday. Soros said Europe faced a prolonged depression and an acrimonious end to the European unification project if steps were not taken to help its southern nations grow their way out of the debt crisis by collectively assuming some of their debt and relaxing its German-led insistence on austerity.
SPAIN - In July, Spaniards withdrew a record €75 billion, or $94 billion, from their banks — an amount equal to 7 percent of the country’s overall economic output — as doubts grew about the durability of Spain’s financial system. The withdrawals accelerated a trend that began in the middle of last year, and came despite a European commitment to pump up to €100 billion into the Spanish banking system. Analysts will be watching to see whether the August data, when available, shows an even faster rate of capital flight.
JAPAN - Japanese scientists predict Mount Fuji will blow due to new tectonic pressures that are higher than when the volcano last erupted more than 300 years ago. Estimates say the eruption will affect more than 400,000 people and cost over $30 billion. Mount Fuji has already been classified as an active volcano, but scientists revealed new readings that show that the current pressure is at 1.6 megapascals, nearly 16 times higher than that required to trigger an eruption (0.1 megapascals).
CHINA - At least 80 people are now known to have died in a series of earthquakes in south-western China, as rescuers struggle to reach remote areas. More than 730 people were injured after the quakes hit Yunnan and Guizhou provinces on Friday, state media said. The tremors struck mostly mountainous areas, causing landslides that blocked some roads. The US Geological Survey registered the two strongest of the quakes at 5.6 magnitude.
NICARAGUA - The Nicaraguan government says about 3,000 people are being evacuated from areas near the San Cristobal volcano, which is spewing ash and gas. Soldiers have been sent to the region, northwest of the capital Managua, after the government ordered local communities to leave. The volcano began erupting on Saturday morning, shortly after powerful explosions were heard. The authorities say they expect more gas emissions and sporadic explosions. Some 20,000 people could eventually be affected, said government spokeswoman Rosario Murillo.
COSTA RICA - A powerful earthquake has shaken the north-west of Costa Rica killing at least one person. A 55-year-old woman died of a heart attack near the epicentre of the quake, the Red Cross said. The US Geological Survey said the 7.6-magnitude quake occurred beneath the Nicoya peninsula, 140km (87 miles) west of the capital, San Jose. The quake rattled buildings in some parts of the capital, San Jose, Reuters news agency reported.
USA - Two rare tornadoes have hit New York City's borough of Queens and Brooklyn, damaging homes, causing blackouts and throwing debris into the air. The first storm, with winds up to 70mph (113km/h), struck Breezy Point on Queens' Rockaway Peninsula. The second tornado, with gusts reaching 110mph, hit Brooklyn's Canarsie area just minutes later. Eyewitnesses in Queens reported seeing trees and electricity pylons uprooted and picnic benches and waste bins being thrown into the air. There were some reports of vehicles being lifted up.
ST GALLEN, SWITZERLAND - What is social cohesion based on today? What are the elements which endanger it at the local and European levels? Is a cohesive Europe that forgets its Christian roots possible? And what is the Church’s role?
RIMINI, ITALY - Vatican's Leader on Interreligious Dialogue Notes International Emphasis on Topic. Religious liberty was one of the topics covered at the Rimini Meeting organized by the Communion and Liberation movement.
VATICAN CITY - This Friday the annual meeting of Benedict XVI’s former students will get under way. The meetings began more than 30 years ago, between the then-Professor Joseph Ratzinger and his students from the University of Regensburg.
YEREVAN, ARMENIA - Armenia warned Azerbaijan it was ready for war as tensions soared Monday between the ex-Soviet foes after Baku pardoned and promoted an Azerbaijani officer who axed an Armenian soldier to death.
USA - What in the world have we done to our kids? If you spend much time with them, you quickly realize that the next generation of Americans is woefully unprepared to deal with the real world. They are overweight, lazy, undisciplined, disrespectful, disobedient to their parents, selfish, self-centered, and completely addicted to entertainment.
USA - The White house has officially denied having held secret talks with Iran over a possible attack by Israel. White House spokesperson Jay Carney said the claim, made in an article published in the Hebrew-language newspaper Yediot Aharonot, was not true.
LEBANON - Hizbullah terror chief Hassan Nasrallah told Gaza terrorist groups Monday his organization “understands the weaknesses of Israel.” Speaking at a rally of terror groups in Gaza via video hookup from a hideout in Lebanon, Nasrallah claimed Hizbullah does not need nuclear weapons to rain a “devastating blow” on Israel.
GERMANY - A report that Germany plans to sell two submarines to Egypt has triggered speculation about a deterioration in German relations with Israel. The German government stressed on Monday that it remained committed to Israel's security - but officials declined to comment on the report.