Thursday, November 17, 2011

ECB buys, Italy yields rise and is Tunisia another "Arab Spring" failure!

The Eurozone debt crisis takes a turn into dangerous territory while the "Arab Spring" in Tunisia heads in the direction thinking people knew that it would!

Italy bond yields rise despite a new government and ECB buying!

Italy has a new government, the ECB is buying its debt and 10-year Italy government bond yield still moved over 7%! With the amount of debt that country needs to refinance that yield is unsustainable!

Mario Monti will outline today the austerity measures that will need to implemented in order to try and win back the confidence of the markets!

Read the article "Italy's Monti to lay out reform plans ahead of the vote" here.

The Sixth Righteous Caliphate in Tunisia?

It was feared by many of those people not going by the monicker of Democrat that the "Arab Spring" in Egypt, Tunisia, Syria and Libya would be nothing more than movements that ultimately led to Islamist governments following the tenets of Sharia Law.

It appears that very well might be the case.

"Secular Tunisians are expressing concerns after a leader of the country's Islamist Al-Nahda movement said Tunisia's emerging government marks "the Sixth Righteous Caliphate."

The fifth caliphate, an Islamic imperial governing system, was abolished by Turkish secular Kemal Ataturk in 1924. In a speech posted on YouTube Sunday, Hamadi Jbeli also pledged that "we shall set forth with God's help to conquer Jerusalem, if Allah wills… From here is conquest with the help of Allah Almighty..."

Read the article "Tunisian pledges a new Caliphate" here.

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