Category : Europe

Rod Dreher–Go to Europe in search of truth, not illusions of tradition

Thoughtful U.S. travelers approach Europe with a sense of pietas. Europe is no Disneyland but the home of our fathers.

That’s the attitude I take, anyway, and never did I feel more pious, in the classical sense, than on this recent trip to Florence. Within the previous year, discovering the Divine Comedy of Dante Alighieri had changed my life””saved it, I would say, because it drew me out of a dark spiritual wood.

I wanted to go to Italy to see the city that nurtured the poet who had been the spiritual father of my new life, the same city that threw him out in disgrace and in so doing seeded the creation of an immortal work of literature. For me, the trip to Florence was very much a pilgrimage, as much a spiritual journey as an intellectual and cultural one.

But then, they all are. For well over half my life, I have been going to Europe at every opportunity, drawn mostly by its art, its architecture, and its culture. (And, well, its food.) It was in Europe””inside the Chartres cathedral, to be precise””that I rediscovered the Christian faith that I, as a know-it-all teenager, had rashly discarded as an ideology of either bourgeois dullards or televangelistic vulgarians.

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Posted in * Christian Life / Church Life, * Culture-Watch, * International News & Commentary, Architecture, Art, Books, Church History, Europe, History, Liturgy, Music, Worship, Parish Ministry, Theology

(Vat. Radio) EU Roman Catholic bishops call for greater political will to solve refugee crisis

European Bishops have deplored the “unacceptable loss of life” of at least 29 migrants by hypothermia in the Mediterranean Seaand and are calling for “greater clarity and greater political will among all of the EU member states on an acceptable resolution of the refugee crisis”.

Just over two months have gone by since Pope Francis appealed to European policy-makers not to allow the Mediterranean to become a vast graveyard. But migrants continue to die during the dangerous crossing as they seek to flee poverty and conflict.

In the latest tragedy of the sea 29 migrants have died of hypothermia and others are in serious condition after they were picked up from inflatable boats by Italian coastguard vessels.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, * Religion News & Commentary, Ethics / Moral Theology, Europe, Foreign Relations, Law & Legal Issues, Other Churches, Politics in General, Religion & Culture, Roman Catholic, Theology

(W Po) A month after kosher market attack, French Jews plan an exodus

Inclusive, integrated, peaceful and prosperous, the elegant city of Saint-Mandé ”” hard against Paris’s eastern fringe ”” has been a haven for Jews like Sebag whose parents and grandparents were driven from their native North Africa decades ago by anti-Semitism.

“I’ve always told everyone that here, we are very protected. It’s like a small village,” Sebag said.

But in an instant on the afternoon of Jan. 9, Sebag’s refuge became a target. A gunman who would later say he was acting on behalf of the Islamic State walked into her neighborhood’s kosher market and opened fire, launching a siege that would leave four hostages dead ”” all of them Jewish.

A month later, the Jews of Saint-Mandé are planning for a possible exodus from what had once appeared to be the promised land.

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Posted in * Culture-Watch, * International News & Commentary, * Religion News & Commentary, Europe, France, History, Israel, Judaism, Middle East, Other Faiths, Religion & Culture, Violence

(FT) Washington urges eurozone leaders to compromise with Athens

The Obama administration is pushing eurozone leaders to compromise more with Athens as fears grow that a protracted stand-off could damage the global economy, say senior EU and US officials.

The US lobbying comes amid mounting concern in Brussels and Washington about the hardline stand taken by some eurozone governments, particularly Germany, that Greece must press on with budget-cutting commitments made under its existing €172bn bailout regardless of last month’s election, which brought anti-austerity party Syriza to power .

“This is a conversation we’re having with people,” said a senior US official involved in the talks.

“There isn’t a special initiative. I don’t think our attitude has changed but what’s changed is that suddenly the situation in Greece is looking more problematic.”

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Posted in * Economics, Politics, * International News & Commentary, America/U.S.A., Consumer/consumer spending, Corporations/Corporate Life, Credit Markets, Currency Markets, Economy, Ethics / Moral Theology, Euro, Europe, European Central Bank, Foreign Relations, Politics in General, Theology

(BBC) Ukraine crisis: 'Last chance' for peace says Hollande

A peace plan drawn up by France and Germany is “one of the last chances” to end the conflict in east Ukraine, French leader Francois Hollande says.

German Chancellor Angela Merkel said it was unclear if the plan would succeed, but it was “definitely worth trying”.

Mr Hollande said the plan would include a demilitarised zone of 50-70km (31-44 miles) around the current front line.

The leaders are attempting to end the fighting in Ukraine between government troops and pro-Russia rebels.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, Defense, National Security, Military, Ethics / Moral Theology, Europe, Foreign Relations, France, Germany, Politics in General, Russia, Theology, Ukraine, Violence

(AP) Oligarchs unload Sochi Olympics assets back onto Russian State to recoup investment

Russia had vowed to pay for what became the most expensive Olympics of all time by getting super-rich private investors to take the cost from the state. Instead, as the first anniversary of the games approaches, at least two of those oligarchs are quietly dumping their toxic assets on the state – forcing taxpayers to pick up the bill.

For the oligarchs, it’s a way to recoup billions of dollars as they struggle in an economy battered by plunging oil prices and Western sanctions. For Putin’s critics, it’s evidence of the crony capitalism that shields powerful businessmen from economic pain.

Two key investors have unloaded properties built for the Olympics at a combined cost of $3 billion, a spokesman to Russia’s deputy prime minister confirmed to The Associated Press. The issue is a major headache for Putin, who needs to pay off the oligarchs to keep them happy, while preventing the deals from triggering popular unrest.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, Economy, Ethics / Moral Theology, Europe, Politics in General, Russia, Sports, Theology

(Guardian) Iceland to build first temple to Norse gods since Viking age

Icelanders will soon be able to publicly worship at a shrine to Thor, Odin and Frigg with construction starting this month on the island’s first major temple to the Norse gods since the Viking age.

Worship of the gods in Scandinavia gave way to Christianity around 1,000 years ago but a modern version of Norse paganism has been gaining popularity in Iceland.

“I don’t believe anyone believes in a one-eyed man who is riding about on a horse with eight feet,” said Hilmar Örn Hilmarsson, high priest of Ásatrúarfélagið, an association that promotes faith in the Norse gods.

We see the stories as poetic metaphors and a manifestation of the forces of nature and human psychology.”

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Posted in * Culture-Watch, * International News & Commentary, * Religion News & Commentary, Europe, History, Iceland, Other Faiths, Religion & Culture, Wicca / paganism

(PS) Javier Solana–Europe’s Jihadi Generation

He came from Algeria seeking a better life, anticipating an escape from poverty, oppression, and hopelessness. In Paris, he found a low-skill job and had children and grandchildren. As French citizens, they had the right to an education and health care. But they grew up in the ghettos that ring France’s major cities, surrounded by families like theirs, literally on the margins of society. Unable to integrate fully, they had few opportunities for economic advancement. Paradise was never gained.

This story has been repeated millions of times in the countries of Western Europe, with immigrants and their families ending up poor and excluded. In the worst-case scenario, they are recruited by extremist groups that seem to offer what they are missing: a sense of belonging, identity, and purpose. After a lifetime of marginalization, participation in a larger cause can seem worth the lies, self-destruction, and even death that inclusion demands.

In the wake of the attack on the French satirical magazine Charlie Hebdo in Paris and the thwarting of another attack in Belgium, Europe needs to take a good look at itself.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, * Religion News & Commentary, Africa, Algeria, Children, Eschatology, Ethics / Moral Theology, Europe, Foreign Relations, France, Islam, Marriage & Family, Other Faiths, Politics in General, Religion & Culture, Spain, Terrorism, Theology, Violence

(C of E Diocese of Europe) A drop-in center enables growth in a Spanish Parish

When St Christopher’s Church on the Costa Azahar in Spain (the name means Orange Blossom coast) north of Valencia, opened a drop-in centre in Alcossebre a few years ago they called it El Camino ”“ The Way ”“ and it has proved to be the way the Anglican church has reached out to residents and visitors in the community.

A friendly welcome is assured and there is a cup of tea or coffee and home-made cakes or savouries in an atmosphere where visitors can relax and learn that Christians do not have two heads and are really a joyful bunch. The centre also stocks second hand books and a selection of clothing and bric-a-brac and the bonus is that it helps to fund the payment of clergy and the general work of the church.

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Posted in * Anglican - Episcopal, * Christian Life / Church Life, * Culture-Watch, * International News & Commentary, Anglican Provinces, Church of England (CoE), Europe, Evangelism and Church Growth, Parish Ministry, Pastoral Theology, Religion & Culture, Spain, Theology

(McClatchy) Europe’s Jews ponder: Is it time to flee again?

Then, in the 1950s, they trusted their instincts again and returned to Germany. Botsch-Fitterling has never left.

But today, in the wake of the Charlie Hebdo terror attacks in Paris, she’s been thinking about that first decision to leave ”“ thinking about it quite a bit, in fact.

The Charlie Hebdo attacks ended in a bloodbath inside a Jewish market in Paris with four Jewish men slaughtered. And there’d been other attacks: In 2012, a so-called “lone wolf” killed three students and a teacher at a Jewish school in Toulouse, France; last May, an attacker with links to the Islamic State killed four people at the entrance to the Jewish Museum in Brussels.

Botsch-Fitterling finds the pattern deeply distressing.

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Posted in * Culture-Watch, * International News & Commentary, * Religion News & Commentary, Ethics / Moral Theology, Europe, History, Judaism, Other Faiths, Religion & Culture, Theology

(Economist Erasmus Blog) Greece, religion and geopolitics-A hint of civilisations clashing

As my last posting noted, the first edgy thing which the new Greek government did was to downgrade, albeit very politely, its relations with the church. The second thing was to upgrade a relationship whose historic roots are at least partly religious, with Russia. On his first day in office, prime minister Alexis Tsipras met the Russian ambassador, and then distanced Greece from an EU statement which protested over Russian actions in Ukraine and threatened further sanctions. He then named a foreign minister, Nikos Kotzias, who enjoys cordial relations with the religious-nationalist segment of the Russian elite.

Lots of questions arise. Is this a great historical paradox – the consolidation of a sentimental tie based on common Orthodox Christianity, under a secular Greek government and a stridently pious Russian one? That would be an interesting reversal of the cold war. Or is the relationship more cultural and historical, based on common memories of shimmering mosaics and swirling incense, rather than actively religious? If that is true, then it is not particularly dependent on what people on either side now believe.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, * Religion News & Commentary, Europe, Foreign Relations, Germany, Greece, History, Orthodox Church, Other Churches, Politics in General, Religion & Culture, Russia

(Foreign Affairs) Ukraine Reignites-Why Russia Should be Added to the State Sponsors of Terrorism L

Now, with the new offensive in the Dontesk and Luhansk People’s Republics, Moscow is looking to decisively win the battle in the Donbas (the name for these two regions) by propagating terrorism and political instability across Ukraine. The terrorists’ training takes place at Novaya Rus (New Russia) coordinating centres in the Russian cities of Belgorod, Tambov, Taganrog, and Rostov; in Moldova’s frozen conflict zone of Transdniestr; and in Crimea’s port of Sevastopol, home of the Black Sea Fleet. Captured terrorists from the Svat group, who were active in the Mariupol region, have testified to attending training camps in Sevastopol. There, they say, they were taught how to build bombs, wage guerrilla urban warfare, and conduct reconnaissance and intelligence operations behind enemy lines. The Russian military intelligence service (GRU) and Russia’s Federal Security Service (FSB) lead the training.

At their training, the terrorists are given five strategic goals. First, blow up train lines and key government buildings, launch small-scale hit-and-run attacks on offices at military”“industrial plants, and bomb pro-Ukraine rallies, military recruiting centres, and National Guard training facilities. Second, destabilize the country and provoke panic using whatever means at hand. The third goal is to collect intelligence on the movements of Ukrainian armed forces and National Guard battalions to help plan future terrorist attacks. Fourth, terrorists are supposed to establish underground print shops to publish pro-Russian separatist leaflets and newspapers. And finally, they are told to infiltrate Ukrainian National Guard battalions.

The training, to some degree, is working. …

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Posted in * Economics, Politics, * International News & Commentary, Defense, National Security, Military, Ethics / Moral Theology, Europe, Foreign Relations, Politics in General, Russia, Terrorism, Theology, Ukraine

(Haaretz) Nobody wanted to hear our stories: Israeli Auschwitz survivors look back

As a young pilot of 24, Avraham Harshalom found himself hospitalized at Tel Hashomer hospital. He suggested to the doctor that while he was there, he could remove the tattoo from his left arm. “At that age you just want to be like everyone else,” he says. “People would see the tattoo and look at you differently.”

Sitting in the lobby of the Krakow Holiday Inn, Harshalom is for once surrounded by men and women who are not different to him. He is one of more than a hundred survivors of Auschwitz-Birkenau who have been brought here by the World Jewish Congress to commemorate the 70th anniversary of the camp’s liberation. The survivors are at the center of attention here, surrounded by family members and well-wishers. Everyone is aware that this could well be the last reunion of such a large group of survivors.

Another thing these grandparents and great-grandparents in their late eighties and nineties have in common is that for decades after liberation, they did not share their experiences. They just tried to be like everyone else.

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Posted in * Culture-Watch, * International News & Commentary, Anthropology, Ethics / Moral Theology, Europe, Germany, Israel, Middle East, Poland, Religion & Culture, Theology, Violence

(FT Editorial) Syriza’s electoral win is a chance to strike a deal

It is easy to see why Syriza put debt repudiation at the heart of its electoral campaign. John Paul Getty once opined that “if you owe the bank $100, that’s your problem; if you owe the bank $100m, that’s the bank’s problem”. Greece’s predicament may ultimately force creditors to the negotiating table. To service its debt burden would require Greece to operate as a quasi slave economy, running a primary surplus of 5 per cent of GDP for years, purely for the benefit of its foreign creditors. Even the IMF has dropped hints in favour of some debt forgiveness.

But Greece’s EU creditors have equally strong reasons for refusing. Caving to Syriza’s demands would come at a high political cost, particularly for Germany’s Angela Merkel, who is harried by the eurosceptic AfD on her right. Other struggling countries would find their own radical parties emboldened by Syriza’s success. No country deserves to live beyond its means indefinitely.

Back in 2011, Greece posed an existential threat to the eurozone. Today, Berlin and Frankfurt are no longer as frightened by the prospect of Greece leaving the single currency. Yet for the Greek people this would be a catastrophe: a giant economic step backwards and a blow to living standards just as severe as any endured under austerity.

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Posted in * Economics, Politics, * International News & Commentary, Credit Markets, Currency Markets, Economy, Ethics / Moral Theology, Euro, Europe, European Central Bank, Foreign Relations, Greece, Politics in General, Theology

(Washington Post) Dwindling group of survivors to mark Auschwitz 70 years on

A decade ago, 1,500 Holocaust survivors traveled to Auschwitz to mark the 60th anniversary of the death camp’s liberation. On Tuesday, for the 70th anniversary, organizers are expecting 300, the youngest in their 70s.

“In 10 years there might be just one,” said Zygmunt Shipper, an 85-year-old survivor who will attend the event in southern Poland to pay homage to the millions killed by the Third Reich. In recent years, Shipper has been traveling around Britain to share his story with school groups, hoping to reach as many people as he can while he has the strength.

“The children cry, and I tell them to talk to their parents and brothers and sisters and ask them ”˜why do we do it and why do we hate?’” he said. “We mustn’t forget what happened.”

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, * Religion News & Commentary, Europe, Germany, History, Judaism, Other Faiths, Poland, Politics in General, Religion & Culture, Violence

Predictions suggest Greece's radical left-wing Syriza party is 1 vote short of absolute majority

The leader of the left-wing Syriza party Alexis Tsipras has said Greece is “leaving behind disastrous austerity”, after his party claimed victory in the country’s general election.

And the 40-year-old told jubilant supporters the “Troika” of the country’s lenders “is finished”.

He was speaking after the Greek Prime Minister Antonis Samaras, who heads the conservative New Democracy party, conceded defeat to Mr Tsipras.

Partial election results suggest Syriza has secured 36.5% of the vote, compared to 27.7% for the New Democracy party.

Read it all from Sky news.

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, Credit Markets, Currency Markets, Economy, Ethics / Moral Theology, Euro, Europe, European Central Bank, Foreign Relations, Globalization, Greece, Politics in General, Theology

(Time) How Islam Became the Fastest-Growing Religion in Europe

In the video…TIME foreign correspondent Simon Shuster discusses how French colonialism and immigration policies throughout Europe helped fuel migration from the Muslim world.

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Posted in * Culture-Watch, * International News & Commentary, * Religion News & Commentary, Europe, Islam, Other Faiths, Religion & Culture

(Independent) Flood of jihadi volunteers to Syria is 'unstoppable', warns Turkish Prime Minister

The tide of foreign volunteers crossing from Turkey into Syria to fight for Isis cannot be stopped, the Turkish Prime Minister has warned, with authorities unable to close the porous 510-mile border between the two countries.

Ahmet Davutoglu, whose government has been accused of not doing enough to stop jihadi fighters from Britain and other countries crossing into Syria, told The Independent that Turkey could not put “soldiers everywhere on the border”. He added: “In any case, there isn’t any state on the other side [of the frontier].”

Turkey plays a crucial role in the Syrian crisis because of its long border with the country, part of which is now controlled by Isis. Mr Davutoglu described how Turkey’s close relations with Bashar al-Assad ”“ “I visited there 62 times in 10 years” ”“ soured in 2011 when “Assad started to kill his own people”.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, * Religion News & Commentary, Europe, Foreign Relations, Islam, Middle East, Other Faiths, Politics in General, Religion & Culture, Syria, Terrorism, Travel, Turkey, Violence

First Woman Rector for Estonian Theological Seminary

Tartu Theological Seminary (Estonia) appointed its first ever woman Rector in January 2015. The Union of Free Evangelical and Baptist Churches of Estonia invited Dr Einike Pilli to be the leader of educational life and development in the Estonian baptistic faith movement.

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Posted in * International News & Commentary, * Religion News & Commentary, Baptists, Estonia, Europe, Other Churches, Seminary / Theological Education, Theology

PBS ' Religion and Ethics Newsweekly–Muslims and the Paris Attacks

Muslims around the world are “the only ones that can actually win this battle because it is about an extremist ideology that they are going to have to stand up against,” says Haris Tarin, director of the Washington office of the Muslim Public Affairs Council.

Read or watch and listen to it all.

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, * Religion News & Commentary, Ethics / Moral Theology, Europe, France, Islam, Other Faiths, Religion & Culture, Terrorism, Theology, Violence

(Project Syndicate) Making Sense of the Swiss Shock by professors Markus Brunnermeier & Harold James

The SNB was not forced to act by a speculative run. No financial crisis forced its hand, and, in theory, the SNB’s directorate could have held the exchange rate and bought foreign assets indefinitely. But domestic criticism of the SNB’s large buildup of exchange-rate reserves (euro assets) was mounting.

In particular, Swiss conservatives disliked the risk to which the SNB was exposed. Fearing that eurozone government bonds were unsafe, they agitated to require the SNB to acquire gold reserves instead, even forcing a referendum on the matter. Though the initiative to require a fixed share of gold reserves failed, the prospect of large-scale quantitative easing by the European Central Bank, together with the euro’s recent slide against the dollar, intensified the political pressure to abandon the peg.

Whereas economists have modeled financial attacks well, there has been little study of just when political pressure becomes unbearable and a central bank gives in. The SNB, for example, had proclaimed loyalty to the peg just days before ending it. As a result, markets will now hesitate to believe central banks’ statements about future policy, and forward guidance (a major post-crisis instrument) will be much more difficult.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, Credit Markets, Currency Markets, Economy, Ethics / Moral Theology, Euro, Europe, European Central Bank, History, Politics in General, Switzerland, The Banking System/Sector, Theology

(PS) Raghuram Rajan–Is the Global Economy Bracing for Stagnation?

As 2015 begins, the global economy remains weak. The United States may be seeing signs of a strengthening recovery, but the eurozone risks following Japan into recession, and emerging markets worry that their export-led growth strategies have left them vulnerable to stagnation abroad. With few signs that this year will bring any improvement, policymakers would be wise to understand the factors underlying the global economy’s anemic performance ”“ and the implications of continued feebleness.

In the words of Christine Lagarde, the International Monetary Fund’s managing director, we are experiencing the “new mediocre.” The implication is that growth is unacceptably low relative to potential and that more can be done to lift it, especially given that some major economies are flirting with deflation.

Conventional policy advice urges innovative monetary interventions bearing an ever expanding array of acronyms, even as governments are admonished to spend on “obvious” needs such as infrastructure. The need for structural reforms is acknowledged, but they are typically deemed painful, and possibly growth-reducing in the short run. So the focus remains on monetary and fiscal stimulus ”“ and as much of it as possible, given the deadening effects of debt overhang.

And yet, the efficacy of such policy advice remains to be seen.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, Asia, Consumer/consumer spending, Corporations/Corporate Life, Credit Markets, Currency Markets, Economy, Ethics / Moral Theology, Europe, European Central Bank, Federal Reserve, Foreign Relations, Globalization, India, Personal Finance, Politics in General, The Banking System/Sector, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--, The U.S. Government, Theology

(Wash Post) For Jews across France, the oldest question returns: Stay put or leave?

Soon after four Jewish men were killed in a hostage-taking siege at a kosher market in Paris last week, the Israeli leadership leapt to offer refuge.

“To all the Jews of France, all the Jews of Europe, I would like to say that Israel is not just the place in whose direction you pray; the state of Israel is your home,” Prime Minister Benjamin Netanyahu said in a televised address.

If a new wave of French Jews move to Israel, they will join what was a record 7,000 compatriots who made the journey last year. But that movement is already rekindling debate among Jews, who ask: Is it better for French Jews to come to Israel or stay home and insist that French society, including the country’s swelling Muslim population, accommodate them?

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, * Religion News & Commentary, Ethics / Moral Theology, Europe, Foreign Relations, France, History, Israel, Judaism, Middle East, Other Faiths, Politics in General, Religion & Culture, Theology

(Pew R) 5 facts about the Muslim population in Europe

1 Germany and France have the largest Muslim populations among European Union member countries. As of 2010, there were 4.8 million Muslims in Germany (5.8% of the country’s population) and 4.7 million Muslims in France (7.5%). In Europe overall, however, Russia’s population of 14 million Muslims (10%) is the largest on the continent.

2 The Muslim share of Europe’s total population has been increasing steadily….

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Posted in * Culture-Watch, * International News & Commentary, Europe, History, Religion & Culture

(RNS) Condemnation swift in Muslim nations over new Charlie Hebdo cover

Condemnation of the new edition of Charlie Hebdo was swift and often fierce Wednesday (Jan. 14) in many majority-Muslim nations after the cover featured a drawing of the Prophet Muhammad with a tear in his eye.

“You’re putting the lives of others at risk when you’re taunting bloodthirsty and mad terrorists,” said Hamad Alfarhan, 29, a Kuwaiti doctor. “I hope this doesn’t trigger more attacks. The world is already mourning the losses of many lives under the name of religion.”

Wednesday’s 16-page issue of the satirical publication featured a cartoon on its cover depicting the prophet holding a sign that says, “Je suis Charlie” (“I am Charlie”) ”” the slogan adopted in support of the weekly after last week’s terrorist attacks in Paris. The headline above the prophet’s head reads, “All is forgiven.”

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Posted in * Culture-Watch, * International News & Commentary, * Religion News & Commentary, Ethics / Moral Theology, Europe, France, Islam, Law & Legal Issues, Media, Other Faiths, Religion & Culture, Theology, Violence

(Bloomberg) Switzerland Ambushes the Global Economy

The Swiss National Bank’s shock move today to stop intervening in the foreign exchange market all but guarantees the European Central Bank will finally introduce quantitative easing when it meets Jan. 22. Switzerland is surrendering before a wave of post-QE money fleeing the euro threatens to make a mockery of its currency policy. It’s also capitulating as slumping oil brings global deflation ever closer.

t’s an astonishing U-turn. Just two days ago SNB Vice President Jean-Pierre Danthine told Swiss broadcaster RTS that “we’re convinced that the cap on the franc must remain the pillar of our monetary policy.” He added, though, that it was “very possible” that QE would make defending the threshold more difficult. It seems highly probable that the ECB has winked about its policy intentions to its Swiss counterparts.

The ensuing whipsaw in the currency market is unprecedented. The franc immediately appreciated almost 30 percent against the currencies of the Group of Ten industrialized nations, and surged to a record against the euro…:

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, Corporations/Corporate Life, Credit Markets, Currency Markets, Economy, Ethics / Moral Theology, Euro, Europe, European Central Bank, Globalization, Stock Market, Switzerland, The Banking System/Sector, Theology

(Reuters) Most British Jews feel they have no future in Europe: poll

A quarter of Jews in Britain have considered leaving the country in the last two years and well over half feel they have no long term future in Europe, according to a survey published on Wednesday.

Additionally, anti-Semitic beliefs are widely prevalent among the wider public with 45 percent of Britons agreeing with at least one anti-Semitic sentiment, the YouGov poll for the Campaign Against Antisemitism (CAA) group found.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, * Religion News & Commentary, England / UK, Ethics / Moral Theology, Europe, Foreign Relations, History, Islam, Judaism, Law & Legal Issues, Other Faiths, Politics in General, Psychology, Religion & Culture, Terrorism, Theology, Violence

(WSJ) ECJ Adviser Says ECB Can Legally Buy Eurozone Government Debt

An adviser to Europe’s top court on Wednesday said the European Central Bank can legally buy large quantities of eurozone government debt to stabilize the currency area’s economy, delivering a key endorsement for the bank as it prepares another round of stimulus measures.

The opinion from the European Court of Justice’s advocate general, Pedro Cruz Villalon, comes in response to a lawsuit brought by German opponents of loose monetary policy claiming that the ECB’s Outright Monetary Transactions program, announced in August 2012 and widely credited with saving the euro, violates the European Union treaty. While the opinion isn’t binding on the court, the judges usually follow the advocate general’s reasoning. A ruling is expected in four to six months.

A negative opinion could have thrown the ECB’s next stimulus efforts into turmoil. ECB President Mario Draghi and other officials have been drawing up “quantitative easing” plans, in which the bank would buy large amounts of eurozone government debt, to boost the economy of the 19-nation currency area and prevent an extended period of deflation, a broad-based decline in prices that can have disastrous economic consequences.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, Economy, Ethics / Moral Theology, Europe, European Central Bank, Globalization, Law & Legal Issues, Theology

(AP) European Jews Haven't Felt This Threatened Since World War II, Experts Say

The killing of four French Jews at a kosher market in last week’s terror attacks by Islamic extremists in Paris has deepened the fears among European Jewish communities shaken by rising anti-Semitism and feeling vulnerable due to poor security and a large number of potential soft targets.

In the wake of the attacks, which follow deadly strikes on a Belgian Jewish Museum and a Jewish school in southwestern France, Israeli leaders have called on European Jews to immigrate to the Jewish state. But European Jews are deeply ambivalent about leaving, and their community leaders, along with top politicians, have urged people to stay in their homelands.

“The European Jewry is the oldest European minority and we have our experience of surviving under all possible circumstances,” Moshe Kantor, president of the European Jewish Congress, told The Associated Press. “We will not give up our motherland, which is called Europe. We will not stop the history of European Jewry, that is for sure.”

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, * Religion News & Commentary, Ethics / Moral Theology, Europe, Foreign Relations, France, Judaism, Other Faiths, Politics in General, Religion & Culture, Terrorism, Theology, Violence

(Atlantic) Matt Schiavenza: The neglect of Boko Haram-Nigeria's Horror in Paris's Shadow

Boko Haram is waging a ruthless war throughout northeast Nigeria, Africa’s most populous country. On Wednesday, Boko Haram militants laid siege to Baga, a city that has resisted them, setting fire to buildings and killing residents indiscriminately. Hundreds of people fled into Lake Chad and attempted to swim to a nearby island. Many drowned along the way. Those who didn’t are now marooned without food and shelter and have no defense against the island’s swarm of malarial mosquitos. The death toll in Baga reportedly exceeds 2,000. Some 20,000 others are now displaced.

The New York Times story on this deadly siege appeared on page A6 of Saturday’s print edition, while the paper’s story of the suicide bombing landed on page A8.

How did the attacks in France so thoroughly bury the atrocities in Nigeria?

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, Africa, Ethics / Moral Theology, Europe, France, Media, Nigeria, Religion & Culture, Terrorism, Theology, Violence