Monsignor Carlo Liberati, Archbishop Emeritus of Pompeii, said that Islam will soon become Europe’s main religion thanks to the huge number of Muslim migrants alongside the increasing secularism of native Europeans.
Speaking to Italian Catholic journal La Fede Quotidiana, the archbishop said: “In 10 years we will all be Muslims because of our stupidity. Italy and Europe live in a pagan and atheist way, they make laws that go against God and they have traditions that are proper of paganism. Continue reading →
German Economy Minister Sigmar Gabriel addresses a news conference in Berlin Germany, December 19, 2016. REUTERS/Fabrizio Bensch
Germany’s insistence on austerity in the euro zone has left Europe more divided than ever and a break-up of the European Union is no longer inconceivable, German Vice Chancellor Sigmar Gabriel told Der Spiegel magazine.
Gabriel, whose Social Democrats (SPD) are junior partner to Chancellor Angela Merkel’s conservatives in her ruling grand coalition, said strenuous efforts by countries like France and Italy to reduce their fiscal deficits came with political risks. Continue reading →
EUROPE is failing as a team player and is on the brink of war as rising nationalism sweeps the continent, a former chancellor advisor has warned.
Horst Teltschik said the bureaucratic European Union (EU) is struggling in the face of a catastrophic euro crisis that continues to “gain tract” and a sensational Brexit vote, which prompted an “erosion” of its powers.
Hinting that a break-up of the Union is more than likely, Mr Telthschik said the bloc’s main players France and Germany were “stuttering”. Continue reading →
Anti-immigrant, anti-Europe, anti-Muslim sentiment is resonating with more and more voters in Europe.
In the wake of the Brexit vote in Britain and the recent Italian referendum, and with national elections looming in 2017 in the Netherlands, France, and Germany, there is concern that Europe may be inundated by a populist wave, driven in large part by right-wing parties exploiting anti-globalization, anti-immigrant, and anti-Muslim sentiments. Indeed, the strategy seems to be working: Polls show that people who have a favorable view of the National Front (FN) in France, the Alternative for Germany (AfD) in Germany, and the Party for Freedom in the Netherlands tend to be more negative about immigrants, refugees, and Muslims than their fellow countrymen. In addition, they are more euro-skeptic and more wary of globalization than their compatriots. Continue reading →
ROME is on the verge of war as friction grows between poor Italians and and an increasing number of migrants, the city’s mayor has warned.
Virginia Raggi told an immigration summit of European city leaders mayors need to be the first to welcome refugees with “warmth, shelter and accommodation”.
She was speaking just days after a Moroccan family was prevented from moving into a council flat given to them by the authorities after neighbours shouted: “We do not want these n*****s.” Continue reading →
THESSALONIKI/BERLIN/FLORENCE (Own report) – When the German foreign minister appeared in the synagogue in Thessaloniki (Greece), he was met with strong protest from prominent members of the Jewish community. In his speech at the synagogue on December 4, (published by the German Foreign Ministry) Frank-Walter Steinmeier (SPD) praised “our German hands to be used in the life of your community” – after Jewish life was eradicated under the Nazis. In his historical reflections, the German foreign minister alluded to the more than 50,000 Jewish Greeks, who, in 1943, had been forced to buy “Reichsbahn” tickets to Auschwitz, where they were murdered upon arrival. He did not utter a single word about the German receipts (89 million Euros) from those trips taking them to their death, or about Berlin’s refusal to pay its debts. Neither did Steinmeier mention the reimbursement of the several million Euros in racist “ransoms” as the Jewish community demands. Prominent Jewish Greeks were outraged because Berlin’s foreign policy is obviously undermining the legal claims of Nazi victims with moralist avowals and non-committal monetary hand-outs. Protests were also raised against Steinmeier’s being offered “honorary membership” in Thessaloniki’s synagogue. Steinmeier made similar appearances in relationship to Italian victims of Nazi mass crimes. Continue reading →
A euro crisis and contagion is almost certain in 2017, Irish economist and writer David McWilliams has warned:
“It is almost certain that there will be another euro crisis in 2017. The last time we had a euro crisis, the focus of attention was Greece; today the vortex is Italy.
Italy is not Greece. Italy is the third-largest economy in the Eurozone. Italy is the second-largest manufacturing nation in the EU after Germany. Italy is the largest debtor in Europe. Continue reading →
Italy is one of the core nations of the European Union project. This week, however, its citizens rejected constitutional reforms from its pro-EU Prime Minister Matteo Renzi. The referendum has shaken Europe. The EU appears to be fracturing, but Bible prophecy says that a core group of European nations will bind together to form the final resurrection of the Holy Roman Empire. On today’s show, Stephen Flurry revisits some of the most troubling trends in Europe today and explains how they are leading to the fulfilment of Bible prophecy. Continue reading →
I recently spent several weeks in Italy, taking the pulse of the country. The Italian referendum on December 4 turned out exactly how I predicted it would.
The “No” vote won in a landslide, with 59% of the vote versus 41% for “Yes,” with a 70% turnout.
The pro-EU Prime Minister promptly announced his resignation after the crushing defeat.
A surging populist party waits in the wings. They’re now likely a matter of months away from taking power and then holding a new referendum on whether Italy should dump the euro and go back to the lira.
Insight from January of 2016 for today regarding the Italian economic crisis:
Italian banking stocks saw another day of meltdown on January 19 as skittish investors were spooked by the country’s burgeoning toxic loan crisis. (GIUSEPPE CACACE/AFP/Getty Images)
How a banking crisis in Italy could reverberate around the world
The value of Italy’s third-largest bank has plummeted by 60 percent since the start of this year. There are signs many are pulling money out of Banca Monte dei Paschi, out of Italian banks, and out of Italy in general. Even if the nation is not hit by a banking crisis imminently, the dire situation in Italy’s banks and its whole economy could still cause a financial disaster in Europe that would reverberate around the world.
We’re not talking a Greece-type crisis here. Italy is the eurozone’s third-largest economy, and the eighth largest in the world. Its economy is over seven times the size of Greece’s. An economic collapse in Italy would put Europe in a crisis far, far worse than the ongoing Greece crisis. Continue reading →
ROME/BERLIN (Own report) – Following Italian Prime Minster Matteo Renzi’s defeat in Sunday’s referendum, Berlin is urging Rome to quickly form a “capable government” and resume its adjustment to the German model of austerity. “The economic problems have to be tackled at the roots,” said Jens Weidmann, head of Germany’s central bank, yesterday. German financial experts are floating the idea of a cabinet of technocrats, modeled on the Mario Monti government. Monti ruled for a year and a half beginning in November 2011, without having been democratically elected and initiated an austerity program considered extremely harsh. Time is pressing: the bank crisis, caused, to a large extent, by bankruptcies due to German austerity dictates, which has been festering in Italy for a long time, is threatening to escalate. The Monte dei Paschi di Siena tradition bank’s recapitalization planned this week is acutely endangered. It cannot be ruled out that its bank crisis could soon spread to other Italian credit institutions and to German banks. Continue reading →
Italy’s Prime Minister Matteo Renzi has said he will officially resign Monday, after voters apparently rejected his proposals for constitutional reform. What should investors keep an eye out for after his defeat?
Although the referendum on Sunday was officially on Renzi’s plan for legislative overhaul, it was widely seen in Italy as a vote of confidence in the prime minister and his government. In voting “no” — projections suggest 59% of those in the ballot made that choice — the Italians have set the stage for an early election and perhaps given local populist parties the chance to deliver a Brexit- or Trump-style shake-up. Continue reading →
EU foreign policy chief Federica Mogherini gives a press conference on the European Defense Action Plan at EU headquarters in Brussels on November 30. (JOHN THYS/AFP/Getty Images)
EU leaders say Europe needs a defense union so it can be a ‘superpower.’
Nations in the European Union have often talked about working together on defense. Many pro-EU politicians wanted some form of an EU army. But in terms of having actual, practical plans, they have had little success—until now.
On November 14, EU defense and foreign ministers agreed on concrete steps toward greater European military cooperation. Continue reading →
Table 1: Central bank FX and Gold transfers to the ECB, January 1999
The European Central Bank (ECB), creator of the Euro, currently claims to hold 504.8 tonnes of gold reserves. These gold holdings are reflected on the ECB balance sheet and arose from transfers made to the ECB by Euro member national central banks, mainly in January 1999 at the birth of the Euro. As of the end of December 2015, these ECB gold reserves were valued on the ECB balance sheet at market prices and amounted to €15.79 billion.
The ECB very recently confirmed to BullionStar that its gold reserves are stored across 5 international locations. However, the ECB also confirmed that it does not physically audit its gold, nor will it divulge a bar list / weight list of these gold bar holdings.
Questions and Answers
BullionStar recently put a number of questions to the European Central Bank about the ECB’s gold holdings. The ECB Communications Directorate replied to these questions with answers that appear to include a number of facts about the ECB gold reserves which have not previously been published. The questions put to the ECB and its responses are listed below (underlining added): Continue reading →