Tag Archives: Italy

News

Top academic warns of collapse of European economy

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From the SA Times Live web site – top academic warns of economic collapse in Europe. (H/T Mary)

Excerpt:

Dennis Lachman, a professor in economics at Georgetown University and a resident fellow at the American Enterprise Institute for Public Policy Research, said at a conference on monetary policy and financial stability at the Reserve Bank on Thursday he has little doubt about this.

“The only question is how long the governments in the northern part of Europe can keep kicking the can forward by financing a trillion dollars here and a trillion dollars there to keep the party going for a little bit longer.

“We are talking about a currency arrangement that was flawed from the start.”

Lachman said the default of Greece or Ireland by the end of next year was another certainty.

“The important thing is that we are not talking about problems only in Europe’s periphery; we are talking about problems in the European banking system.

“Their inter-linkages with the European banking system makes this of concern. It is not only for the European economy, but what we have learned from the Lehman (Brothers) debacle and the sub-prime debacle is that these kinds of crises have a habit of being global in scope.”

Lachman said at the end of 2009 the exposure of French banks to the so-called PIIGS countries (Portugal, Ireland, Italy, Greece and Spain,) was around 37% of France’s gross domestic product. For Germany the exposure is 21% of GDP.

A write down of the debt of these countries would thus result in a shock for economies that haven’t fully adjusted to the Lehman shock, he said.

A euro crisis would coincide with the US economy either double-dipping or flirting with a double-dip, Lachman said.

I found two related videos on Verum Serum.

Austerity measures:

Rioting in Ireland:

The good news is that Americans have voted to avoid this dismal fate by electing Republicans. But we’re not out of the woods yet. But it’s definitely a good time to reduce your spending and start saving for a rainy day, and making a plan.

I’m struggling right now, because this is all happening too fast and my plan requires at least 3 years to execute… GAH! I didn’t expect this would happen so fast. I hope the House Republicans can put the brakes on the spending.

News

Woman killed for opposing her daughter’s arranged marriage

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Story in the UK Telegraph. (H/T Jihad Watch)

Excerpt:

A Pakistani woman has died in Italy after her husband beat her with a brick for opposing the arranged marriage of her daughter, triggering a wave of outrage among Italian politicians on Monday.

The daughter, 20-year-old Nosheen Butt, was admitted to hospital with a cranial traumatism and a broken arm after her 19-year-old brother beat her with a stick in the courtyard of their building in Novi, near the north Italy city of Modena.

According to Modena prosecutors’ initial findings, the father Ahmad Khan Butt, a 53-year-old construction worker, threw his wife to the ground and beat her with a brick while the brother Umair attacked his sister.

“The victim did not want her daughter to have an unhappy relationship like the one that had been forced on her,” said deputy Modena prosecutor Lucia Musti, who is in charge of the investigation.

[…]…the father had been in Italy less that 10 years and was the owner of the local mosque.

Is that normal for Islam? Answering Muslims actually has a look at the issue in more detail.

I personally think that the death penalty would be appropriate for both of these men. We need a deterrent to stop this from ever happening again.

Commentary

Guest post: Photograph of early Christian engraving found in Rome

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WK: This is a guest post by journalist and blogger Rick Heller, who blogs at TransparentEye.This post is cross-posted here.

I was in Rome a few weeks ago, and took this photo in the entryway of the church of Santa Maria in Trastevere, one of the oldest churches in Rome. The engraving is one of a number preserved from an early date, and uses the Chi Rho symbol, which employs the first two Greek letters in “Christ.”

Maximinus in Chi Rho

I’ve been reflecting on the conversion of the Greco-Roman world to Christianity, and contrasting it with the persistence of polytheism in the Hindu world (as an agnostic, I have no stake in any of these religions).

Christianity was legalized in the Roman Empire by Constantine in 313, starting a period of toleration that ended when Theodosius prohibited paganism later in the century. Paganism seems to have quickly disappeared. The pagans were apparently unwilling to die for their religion in the way that Christians were for theirs. I’m not an expert in this, but it seems to me that Greco-Roman religion, with its view of Hades, didn’t offer much in the way of an incentive for dying for one’s faith.

Hinduism, by contrast, has survived and prospered, despite the Muslim conquest of India many centuries ago (Indian Buddhism was essentially destroyed). I don’t know how to account for this, but it has been suggested to me that the Hindu belief in reincarnation gave it a strength and resilience that Greco-Roman religion lacked.

I do find engravings like the above moving. It appears to me to have been carved by a non-professional hand–certainly with less regularity than on an official Roman inscription–and thus seems like a personal communication transmitted across the centuries.