Raising the spectre of a Greek exit, the German chancellor said “solidarity for the euro” was threatened by the ongoing political crisis in Athens.
Stock markets around the world fell sharply with fears mounting that a euro break-up could lead to renewed financial turmoil. The FTSE-100 index of Britain’s major companies fell by two per cent to 5465, with bank shares hit particularly hard.
New elections may be held next month and Greek voters are likely to be warned by European leaders that their country may be ejected from the euro if they do not support parties backing austerity measures.
As if the Greek situation wasn’t messy enough, a missing paragraph from a key legal document is throwing a wrench into a debt deadline.
Greece has a 436 million euro principal repayment due Tuesday. So far, the country has not decided what to do.
Financial markets are hastily making preparations for a Greek exit from the euro after a day of political and economic turmoil ended withEurope's policy elite admitting for the first time that it may prove impossible to keep the single currency intact.With attempts in Athens to form a government after last week's election looking increasingly doomed, European leaders abandoned their taboo on talking about the possibility that Greece might have to leave the euro.
Financial markets were plunged into fresh turmoil after Greece's political parties failed once again to agree to form a unity government, and European policymakers warned that Greece's aid payments would be cut off unless Athens quickly produced an administration prepared to deliver far-reaching economic reforms and budget cuts.Without those funds from the European Union and the International Monetary Fund, Greece could run out of cash to meet its national debt interest payments as early as next month. The country would then have no option but to default. Most analysts expect that a default would be a prelude to Greek exit from the single currency altogether.
Arab terrorists attacked southern Israel with a Kassam rocket early Tuesday and attacked Jews in the Hevron area with two firebombs overnight as “Nakba Day” began.The rocket, fired from northern Gaza, exploded in an open area near Sderot, and the firebombs were hurled at IDF soldiers stationed at the village of El-Aroub, located less than one mile south of the Gush Etzion junction on Highway 60 leading to Kiryat Arba-Hevron.
The attacks coincided with the beginning of what Arabs call Nakba Day, or the day of catastrophe, referring to the English date of May 15 when the State of Israel was re-established with a declaration of independence in 1948.Security services are expecting the worst and hoping for the best on Tuesday. Along the northern border, the military said it will not allow a repeat of last year’s Syrian infiltration into the Golan Heights.
Thousands of Palestinians gathered in Ramallah for a major rally at the Martyr Yasser Arafat Square Tuesday. The protesters raised black banners and Palestinian flags to mark the event. Palestinian Authority Prime Minister Salam Fayyad attended the event.
Zionist activists confronted Arabs and leftist sympathizers in Israeli campuses Tuesday for the second straight day as Arabs marked "Nakba Day," in which they mourn theirfailure to annihilate the Jews in the Land of Israel in 1948.
Arabs in the Har Hatzofim campus of Hebrew University waved PLO flags and chanted the PLO battle cry, "with blood and fire we will redeem Palestine."
President Barack Obama reportedly held an off-the-record foreign policy meeting with nine editors and columnists to discuss Afghanistan, Israel, NATO and the G8 Summit at Camp David. Many of the participants are widely known for their extreme and unwarranted criticism of the Jewish state.
According to reports, the U.S. and Russian military will be engaging in an anti-terrorism exercise that will involve Russian paratroopers using U.S. weapons to “take and hold” the main facilities of the CIA and Denver International Airport in Colorado and the National Security Agency in Utah.
The European Union Times has more on the report announcing this exercise from the Russian Federal Service for Military-Technical Cooperation:
Russian Defense Ministry spokesman Colonel Alexander Kucherenko publically announced this 24-21 May “anti-terror drill” this Friday past noting that this will be the first time Russian airborne forces have held exercises with the US airborne forces on US territory. Colonel Kucherenko stated, “According to the exercise scenario, soldiers of the two countries will hold a tactical airborne operation, including the reconnaissance of imaginary terrorists’ camp and a raid. After the operation, a helicopter will evacuate the soldiers.” He further added that Russian airborne troops would be training with US special service weapons in these drills in Fort Carson, Colorado.
Puzzling to Russian military analysts about this exercise, this report says, are that according to the American plans, Russian airborne troops (using US weapons that they had previously trained with at Fort Carson) will fly to and then parachute from their planes having the objectives of seizing the CIA’s main computer facility in Denver, the NSA’s main computer facility in Bluffdale, Utah, and taking control of main runways and terminals of the Denver International Airport.
The purpose of seizing the Denver International Airport, this report continues, is for the evacuation of the key personal and equipment previously “freed” from the CIA’s Denver base, and the NSA’s base in Utah, who were, supposedly, under “imminent threat” from an unspecified enemy, according, that is, to the American scenario for this war game.
Business Insider notes this is the first time the Russian military will have been invited onto U.S. soil for a military drill.
Maj. Gen. Albert N. Stubblebine III (US Army Ret.), President of the Natural Solutions Foundation, an international NGO (non-governmental organization), released a 27 minute public service Estimate of Situation about Fukushima, Japan focusing on the immediate threat to the Northern Hemisphere emanating from the highly radioactive ruins of the 5 Fukushima nuclear reactors. The video is available without charge at http://www.GeneralBert.com.Gen. Stubblebine’s prognosis is dire: “When the highly radioactive Spent Fuel Rods are exposed to air, there will be massive explosions releasing many times the amount or radiation released thus far.Whether through evaporation of the water in the pools, or due to the inevitable further collapse of the structure, there is a severe risk.When the final cataclysm occurs, sooner rather than later, the whole Northern Hemisphere is at risk of becoming largely uninhabitable.”General Stubblebine details in his riveting video the amounts of radioactive materials that will be propelled across the Pacific and across the United States if the Fukushima reactor structures (especially Spent Fuel Pool Number 4) collapse.
An astounding pulse of destruction and growth at an underwater volcano north of New Zealand has provided a new insight into the behaviour of submarine mountains.
The Monowai seamount, which lies at the intersection of the Pacific and Indo-Australian tectonic plates at the Tonga-Kermadec subduction zone, underwent one of the fastest episodes of volcano growth documented on Earth.
Their findings have been published online in the journal Nature Geoscience. The article's authors include GNS Science geologist and geochemist Cornel de Ronde.The researchers believe the changes are larger than at most other volcanoes. Only Vesuvius and Mount St Helens have recorded larger growth rates."Any movement on the seabed has the potential to create a tsunami."This is a violent exchange of rock into the water - it could destabilise the cone and cause a landslide which in principle could cause a tsunami.''
A Hebrew University archeologist says finds at a new dig site near Jerusalem are backing up the biblical narrative of an Israelite kingdom centered on Jerusalem in 1000 BC, around the time of King David and his son, King Solomon.Professor Yosef Garfinkel has been digging at Khirbet Qeiyafa near the Jerusalem suburb of Beit Shemesh since 2007. Carbon dating of unearthed olive pits has put the period of activity at Khirbet Qeiyafa at 1020 BC - 980 BC, almost exactly the period of time the Bible says David and Solomon were active in the region. The dating, together with the uniqueness of the finds, has made Khirbet Qeiyafa one of the most important biblical archeological digs.Less than a year after working Khirbet Qeiyafa, Garfinkel unveiled what is believed to be the oldest Hebrew inscription found to date. At the time, Garfinkel said the inscription proved that vibrant, centralized and literate Hebrew kingdom existed in the area 3,000 years ago, just as the Bible says it did.Last week, Garfinkel shared his latest find - two ancient models of shrines that very closely resemble the biblical description of Solomon's Temple in Jerusalem. The models would have presumably been used in religious rites.All of this evidence combined is important because it counters the claims of some archeologists that the Bible is full of myths, which until now the have based on the lack of evidence for a large and centralized Israelite kingdom around 1000 BC.
"For the first time in history we have actual objects from the time of David, which can be related to monuments described in the Bible," Garfinkel said in a press release. "Various suggestions that completely deny the biblical tradition regarding King David and argue that he was a mythological figure, or just a leader of a small tribe, are now shown to be wrong."
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