CYPRUS - It is difficult to describe the weekend bailout package to Cyprus in any other way. The confiscation of 6.75 percent of small depositors' money and 9.9 percent of big depositors' funds is without precedence that I can think of in a supposedly civilised and democratic society.
CYPRUS - The drama out of Cyprus today continues to get more interesting. The country has been ailing for quite some time, and everybody knew that a bailout was coming.
CYPRUS - A hit imposed on Cypriot bank depositors by the euro zone has shocked and alarmed politicians and bankers who fear the currency bloc has set a precedent that will unnerve investors and citizens alike.
GERMANY - Deutsche Bank‘s global head of FX strategy, Bilal Hafeez, recently gave a speech at the annual Deutsche Bank Mittelstand (small and medium-sized enterprises) FX conference in Hamburg, Germany. The speech focuses on the euro area’s economic woes and the need for the currency bloc to move forward with further integration in order to be economically successful.
CYPRUS - People in Cyprus have reacted with shock to news of a one-off levy of up to 10% on savings as part of a 10 billion euro (£8.7 billion; $13 billion) bailout agreed in Brussels. Savers could be seen queuing at cash machines amid resentment at the charge.
UK - David Cameron has publicly clashed with the new Pope over the Argentine pontiff’s claim that Britain “usurped” the Falkland Islands. Pope Francis, who is a former Archbishop of Buenos Aires, has previously described the disputed territory as belonging to “the homeland” of Argentina. However, the Prime Minister told him he should “respect” the islanders’ referendum vote for the Falklands to remain British. Mr Cameron even dared to make a joke at the expense of the Vatican’s ancient election processes. “The white smoke over the Falklands was pretty clear,” he said. President Kirchner maintains that the wishes of the islanders are not relevant.
UK - The hard proof that finally shows global warming forecasts that are costing you billions were WRONG all along. No, the world ISN'T getting warmer (as you may have noticed). Now we reveal the official data that's making scientists suddenly change their minds about climate doom. So will eco-funded MPs stop waging a green crusade with your money? Well... what do YOU think?
AUSTRALIA - The danger of the rise of bugs which do not succumb to drugs was outlined this month by the Chief Medical Officer. Professor Dame Sally Davies described it as a ‘ticking timebomb’ which could leave millions vulnerable to untreatable germs within a generation.
MIDDLE EAST - Former Secretary of State Henry Kissinger says there is little chance of any breakthrough in stalled Israeli-Palestinian peace talks, as President Barack Obama visits Israel next week on his first trip there since taking office.
VATICAN - Cardinal Joseph Ratzinger was elected Pope by the College of Cardinals and took the name Benedict XVI on April 19, 2005. The very next day the newly elected Pope called the cardinals together in the Sistine Chapel to outline his vision of the papacy and the priorities of his mission.
USA - Researchers say a massive earthquake and tsunami could soon strike the Northwest US coast, killing more than 10,000 people, flooding entire towns, and causing economic damage totaling $32 billion. An alarming report published by the Oregon Seismic Safety Policy Advisory Commission warns about the dire effects of the quake and claims that it is imminent and could strike anytime. The report, which was compiled by a group of more than 150 volunteer experts, was requested by the Oregon legislature in order to adequately prepare for the looming disaster.
USA - It was stunning for those who watched Thursday night as federal agents investigated a possible nuclear threat at Chicago’s Ogilvie Transportation Center. They were carrying hand-held nuclear-detection devices that picked up a reading.
JERUSALEM, ISRAEL - Israel’s Veterinary Services will not authorize the planned public ritual sacrifice of a goat in honor of Passover this year, Veterinary Services representative Zohar Dvorkin said Thursday.
TEMPLE MOUNT, ISRAEL - Jerusalem police calls violence from within al-Aqsa ‘a new escalation’; nine officers and dozens of rioters lightly injured in riots.
JERUSALEM, ISRAEL - The desire to pray on the Mount, also the site of Islam’s third-holiest shrine, has found more acceptance among mainstream rabbis in Israel over the past decade, spreading gradually from a tiny fringe to a broader religious public. The numbers of Jews actually visiting the Mount for religious reasons is still tiny — no more than several thousand a year, according to police estimates — but inching upward, and the sacred enclosure is slowly gaining in importance as an issue of religious and political meaning for religious Zionists, a group with outsize ideological and political clout in Israeli society. That could make it a flashpoint inside Israel and an inflammatory issue for local Muslims and the entire Islamic world.