Belgian Bond Yields Begin to Balloon

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A quote from John Philips at Seeking Alpha Market Analysis, 14 November 2007
 
During the recent weeks of [political uncertainty in Belgium], Belgian government bond yields have been on an upward trend. The yield spread between the 2 and 10-year OLOs widened to its greatest margin in about 5 years. The spread between the 10-year OLO and the 10-year bund rose to its highest point since the third-quarter of 2002. The Yield on the 10-year OLO surpassed that of the 10-year note for the first time since late 2004. As political uncertainty persists in Belgium, government bond yields continue to follow an upward trend as investors sell bonds in an attempt to protect themselves from risk. While government backed investments are usually considered amongst the safer investments, the prolonged period of political unrest has led some spectators to believe that the Belgian government may split as both sides seem unlikely to compromise. In the event that the government disbands, debt holders run the risk of losing some or all of their investment. It is possible that the government will put a moratorium on outstanding debt for an unspecified period of time, during which the newly divided states of the former country settle. After settling, the two sides will debate over who is responsible for the repayment of the outstanding debt. Debt holders run the risk of losing all of their investments if the government defaults. The Belgian Treasury currently has approximately €223.3B outstanding held in OLOs, that is medium-term, long-term, and very long-term securities, just over 50% of which is held by investors outside of Belgium.

Special Italian Police Force Seizes Koranic Toilet Seats

A quote from the Italian press agency AKI, 14 November 2007

The imam of the mosque in the town of Latina in the central Italian region of Lazio, Sheikh Yusuf, on 26 October heckled interior minister Giuliano Amato about the toilet seat as he presented Italy's new 'Charter of values, citizenship and integration' for immigrants' at Rome's Grand Mosque. "This is an insult to the Muslim faith that we must react to," Yusuf called out to Amato, who reassured Yusuf, saying: "I would like to tell our friends from Latina that we have been informed of this matter and are taking action because it is offensive." […]

How to Fight Eurabia?

A quote from Fjordman at the Gates of Vienna blog, 14 November 2007

The truth is that the European Union is directly responsible for much of the resurgence of anti-Semitism in Europe, both by importing Muslims and by appeasing Jihad at home and abroad. The EU hardly cares about live Jews, certainly not about dead ones. The Holocaust is shamelessly exploited as an excuse for creating an artificial superstate and above all for imposing restrictions on free speech for everybody who wants to oppose this project. […]

What Policies Are Good for Israel?

A quote from Paul Gottfried at Taki’s website, 12 November 2007

The religious and cultural hatreds that inflame the Muslim world would likely be there even if the Israelis managed to cut a deal with the Palestinians. [...] While one might readily concede that American Indians were expelled from their tribal territories in the nineteenth century, why would anyone but a self-hating white Christian call for allowing Indian tribes to take back sizable chunks of the U.S.? [...]

Time for Revolution

A quote from Richard North at the EUreferendum blog, 14 November 2007

The trouble is the European Union is not a one-to-one relationship between individuals who are in control of their own destiny and who can make or break relationships at will. If the analogy has any relevance at all, this is a shotgun marriage, where we are not allowed any say in the matter. The divorce courts are closed and shuttered.

That much is evident from the conduct of Nicolas Sarkozy in the EU parliament yesterday, [...]. Speaking in what he thought was a closed meeting of MEPs, he told his audience that referendums on the new treaty were "dangerous" and would be lost in France, Britain and other countries.

Bertolt Sarkozy

After the uprising of the 17th of June
The Secretary of the Writers Union
Had leaflets distributed in the Stalinallee
Stating that the people
Had forfeited the confidence of the government
And could win it back only
By redoubled efforts. Would it not be easier
In that case for the government
To dissolve the people
And elect another?

Mr Sarkozy was in Strasbourg today, preaching to the world and Mr Brown in particular.

"When the people say "no", we cannot say the people are wrong. We must ask why they said "no".

he said, in the public forum of the plenary chamber.

Israel: A Partner of Flanders, Not of Wallonia

A quote from Jehudi Kinar, departing Israeli Ambassador to Belgium, in the Dutch-language Jewish monthly Joods Actueel, November 2007:

With regard to [Belgian] politics Israel has most problems with the Socialists, especially the Francophone PS [Parti Socialiste]. There are many examples of this. While [Dutch-speaking] Flanders has bilateral economic and cultural treaties with Israel the PS refuses to ratify these treaties in [French-speaking] Wallonia and [bilingual] Brussels.

Landmark Conviction in Italy

A quote from the Italian press agency AKI, 13 November 2007

A Pakistani man in Italy, Mohammed Saleem, and two male relatives, have been sentenced to 30 years in jail in the northern Italian town of Brescia for murdering his daughter, Hina Saleem. […] [T]he Pakistani girl was allegedly killed because she had “dishonoured” her family and refused an arranged marriage. Hina dressed in western clothes, wore make up, worked in a pizzeria in the northern town of Sarezzo and lived with her Italian boyfriend. She was found with her throat slit buried in the garden of her family home with her head facing Mecca in August 2006.

Cameron Snubbed

A quote from The Daily Mail, 13 November 2007

Tory leader David Cameron faced fresh embarrassment after rebel Tory activists snubbed calls to ditch a Parliamentary candidate who said Enoch Powell “was right” on immigration. The Halesowen and Rowley Regis constituency association refused to accept the resignation of would-be MP Nigel Hastilow and instead demanded crisis talks with the Conservative Party Board, […] [L]ocal members remain furious at the way Hastilow was treated by the party HQ and refused to accept his resignation, saying his views on immigration have widespread support.

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