UK - Everything that 'deluded' orthodox economists have done so far has been designed to aid the creditors (who remain the problem) while Steve Keen, the most familiar face of the non-orthodox economists, sees the only solution to this crisis as aiding the debtors.
UK - Desperate families are facing a Dickensian Christmas with at least 100,000 Britons relying on food parcels because they can't afford to eat. A new food bank is opening every week as charities struggle to cope with increasing numbers of people hit by a combination of Government cuts, rising unemployment and soaring food and fuel prices.
UK - Muslim students, including trainee doctors on one of Britain's leading medical courses, are walking out of lectures on evolution claiming it conflicts with creationist ideas established in the Koran. Professors at University College London have expressed concern over the increasing number of biology students boycotting lectures on Darwinist theory, which form an important part of the syllabus, citing their religion.
EGYPT - Under former leader Hosni Mubarak, election season for Egypt's Muslim Brotherhood often meant arrests, beatings and pitched battles with riot police at polling stations. In the new Egypt, the once-banned Islamist group faces very different challenges as it gears up for the start on Monday of the first free polls since Mubarak was deposed in February.
USA - The super committee has predictably failed - maybe there was green kryptonite hidden in its meeting room. Months of nearly round-the-clock debate about reigning in the national debt, conducted at the highest levels of government, come to a close with nothing done about the problem. This is the essence of contemporary Washington: lots of empty talk, interest groups appeased, all difficult decisions indefinitely tabled and the national interest ignored.
EUROPE - Moody's Investors Service warned on Monday the rapid escalation of the euro zone sovereign and banking crisis threatens the credit standing of all European government bond ratings. "While Moody's central scenario remains that the euro area will be preserved without further widespread defaults, even this 'positive' scenario carries very negative rating implications in the interim period," the agency said in a report.
USA - More Americans hunted for bargains over the weekend than ever before as retailers lured them online and into stores with big discounts and an earlier-than-usual start to the holiday shopping season. A record 226 million shoppers visited stores and websites during the four-day holiday weekend starting on Thursday, the Thanksgiving Day holiday, up from 212 million last year, according to early estimates by the National Retail Federation released on Sunday.
UK - Two thirds of schools to shut, airports set for chaos, Army on standby - but unions won't discuss a last-minute peace deal. Brendan Barber, head of the Trades Union Congress: 'This will be the biggest strike for a generation. The Government has managed to alienate its entire workforce'
MOROCCO - Morocco's moderate Islamist PJD party won the most seats in the country's parliamentary election, final results showed Sunday, in the latest sign of a resurgence of faith-based movements since the Arab Spring uprisings.
IRAN - Defense minister Vahidi tells army volunteers 'Israel has to be punished for what it has done to the Muslims in Palestine'. Iranian Defense Minister General Ahmad Vahidi said Israel would be attacked with 150,000 missiles if it launches any military action against the Islamic Republic, the Iran Independent News Service reported Sunday.
PAKISTAN - Pakistan gives America two-week ultimatum to abandon 'secret' airbase and closes border: Hundreds of Afghan-bound supply trucks line up as tensions mount. Nearly 300 trucks carrying supplies to US-led troops in Afghanistan clogged the Pakistani border crossings Sunday, leaving them vulnerable to militant attack a day after Islamabad closed the frontier in retaliation for coalition airstrikes that allegedly killed 24 Pakistani troops.
EUROPE - The leaders of France and Germany called for a 'united states of Europe' today as they agreed to further integrate the troubled 17-nation eurozone. Nicolas Sarkozy called for the European Central Bank to play a bigger role in solving the debt crisis and agreed with Angela Merkel that the eurozone should further integrate.
UK - Britain was last night planning for the collapse of the eurozone as Spain weighed up a bailout that could cost UK taxpayers 5 billion pounds. The Government is preparing for the biggest mass default in history and the break-up of the single currency bloc.
UK - British embassies in the eurozone have been told to draw up plans to help British expats through the collapse of the single currency, amid new fears for Italy and Spain. As the Italian government struggled to borrow and Spain considered seeking an international bail-out, British ministers privately warned that the break-up of the euro, once almost unthinkable, is now increasingly plausible.
BRUSSELS, BELGIUM - Standard & Poor's lowered its long-term sovereign credit rating for Belgium on Friday, citing the country's lack of a permanent government and a looming European recession that threatens the country's exports. In a sign that financial contagion is spreading across Europe, the agency cut Belgium's credit rating from AA+ to AA, a move that sent shocked politicians immediately back into new negotiations Friday night.