News Headlines Feb. 26, 2013

• Germany doubles arms supplies to Persian Gulf nations - report German military exports to Persian Gulf nations doubled in 2012 amid repeatedly-voiced international concerns over gross human rights violations in the region. The German government has been fiercely accused of unscrupulousness in arms sales. 

• Five injured, at least 20,000 evacuated after China chemical plant blast 

• Magnitude 5.7 earthquake hits near Tokyo

• Berlusconi bloc neck and neck with center-left coalition in crucial Italian election Italy's parliamentary elections are heading towards a stalemate as initial results show the center-left forces of Pier Luigi Bersani and the coalition of former premier Silvio Berlusconi locked hand in hand in a crucial race.

• Car blast rocks central Damascus, casualties reported A suicide bomber has detonated a vehicle in the Al-Qabun area of Damascus, state media reports. Several people have been killed and injured according to preliminary reports.

 

•  What European Recovery? Unemployment at record high and debt only keeps reaching more unsustainable levels. Italy’s Debt to GDP crosses 125 percent. I never understood why so many people bought into the notion that the European Union was recovering.  If recovery means that a handful of well-connected bankers are bailed out with financial smoke and mirrors instead of facing reality while placing crushing austerity on the public, then yes, maybe a recovery is what was experienced.  As of the writing of this article the EU is facing its highest unemployment rate on record.  How is this even remotely positive or perceived as a recovery?