ISRAEL - Prime Minister Binyamin Netanyahu explained Saturday evening on his Facebook page why he chose to apologize to Turkish Prime Minister Recep Tayyip Erdogan for the Mavi Marmara incident, in a Friday telephone conversation.
UK - Britain's credit rating faces another downgrade in the next month after Fitch warned it is reviewing the country's "AAA" status in the wake of the Budget. The agency warned that there is a "heightened probability of a downgrade" as it conducts a review of the rating by the end of April. The move prompted foreign-exchange traders to sell the pound in late trading in the City and caps a torrid week for Chancellor George Osborne. The prospect of a downgrade by Fitch comes a month after Moody’s became the first of the three major credit rating agencies to strip the UK of the coveted AAA status.
CASTLE GANDOLFO, ITALY - There had been intense speculation about how Vatican protocol would deal with the first face to face meeting since the election of Pope Francis between the new Pope and the retired Pope. It was a carefully calculated mixture of formality and informality.
VATICAN - A "council of the crown" around the pope, with cardinals from the five continents. A drastic trimming of offices. A shakeup for the IOR [Institute for Religious Works]. Novelties and unknowns of the pontificate of Francis.
CYPRUS - Voting in the Cypriot parliament on an emergency bank restructuring plan, restrictions on cash machine withdrawals, money transfers, a new sovereign wealth fund and bank restructuring has been delayed after the eurozone and IMF troika rejected proposals from Cyprus.
CYPRUS - Comment by Chris Morris BBC News, Nicosia: The eurozone is really turning the screw on Cyprus, and it's being led by Germany. The message is crystal clear - your economic model has to change. They will no longer accept the idea of a national economy within the eurozone that is dependent on its reputation as an offshore tax haven. There is huge irritation with the way the Cypriots have handled things, and that has led to the imposition of deadlines which mean big decisions need to be taken very quickly. The cost of cleaning up the Cypriot banking system must be borne by investors in the Cypriot banking system - like it or lump it.
USA - The Department of Homeland Security has plans to buy enough ammunition to fight the equivalent of a 24-year Iraq War – on US territory – and even US congressmen don’t understand why. Speaking on the sidelines of the Conservative Political Action Committee (CPAC), Congressman Timothy Huelscamp said the DHS has refused to answer questions from “multiple” members of Congress regarding the plans.
UK - Salad labelled as "ready-to-eat" is more dangerous than beefburgers, one of Britain`s top food experts has said, following a spate of Cryptosporidium infections linked to the product.
UK - White Britons believe they have less influence than ethnic minorities on how the country is run, it was claimed today. Analysis of Government data shows that immigrants have a far greater belief that they can sway political decisions affecting their local areas and the country as a whole. This was partly down to confidence among people whose families had experienced oppression in their countries of origin and who now had greater opportunities in the UK. But experts warn that the trend could lead to minority groups gaining “disproportionate power ” in some neighbourhoods.
EUROPE - The crisis in Cyprus has taken a nasty turn, but it will not wreck the euro. Chancellor Angela Merkel will simply not allow it to happen. For Germany the euro is the goose that lays golden eggs. It has allowed Germany to accumulate more than €1 trillion in trade surplus with other EU countries in a little more than a decade. Germany will not let the golden goose die.
CHINA/RUSSIA - The new Chinese leader chose Russia as first stop on his maiden overseas voyage. As this visit signals the two powerful neighbors growing ever closer, analysts assess their potential in countering the US-led Western domination of global affairs.
CYPRUS - Russia rebuffed Cypriot entreaties for aid on Friday, leaving the island's increasingly isolated leaders scrambling to strike a bailout deal with the European Union by next week or face the collapse of its financial system.
EUROPE - The Cypriot economy is "on the brink" and desperately requires a liquidity lifeline from Europe, Cyprus' largest bank has warned. "The next move may prove its salvation or destruction," said the Bank of Cyprus - itself said to require urgent funding to prevent collapse. The European Central Bank has given the island nation until Monday to raise the funds it needs to secure a bailout. MPs have delayed a vote on a new plan to raise those funds until Friday. Earlier this week they flatly rejected a plan to tax bank deposits. They need to find 5.8 billion euros (£4.9 billion; $7.5 billion) to qualify for a 10 billion euro bailout loan from the EU and International Monetary Fund (IMF).
BRUSSELS, EUROPE - Euro zone finance officials acknowledged being "in a mess" over Cyprus during a conference call on Wednesday and discussed imposing capital controls to insulate the region from a possible collapse of the Cypriot economy.
EUROPE - The Cyprus bailout proposal made by the Eurogroup is both economically and politically absurd. But what if the real reason behind the whole Cyprus crisis is the desire to confiscate the country’s gold?