Saturday, August 13, 2022
Thursday, August 11, 2022
Wednesday, August 10, 2022
Incite..
North Korea called U.S. House Speaker Nancy Pelosi “the worst destroyer of international peace and stability,” accusing her of inciting anti-North Korea sentiment and enraging China during her Asian tour earlier this week.
Pelosi traveled to South Korea after visiting Taiwan, which had prompted China to launch military exercises including missile strike training in waters near the self-governed island.
While in South Korea, Pelosi visited a border area with North Korea and discussed the North’s nuclear program with South Korean National Assembly Speaker.
“Pelosi, who had come under a volley of due criticism from China for destroying regional peace and stability by visiting Taiwan, stirred up the atmosphere of confrontation” with North Korea during her stay in South Korea.
Was that deliberate or accidental? Just a thought.
Draghi..
Italy’s latest political crisis comes at a dreadful time. Prime Minister Mario Draghi, formerly at the helm of the European Central Bank, offered to resign after losing the support of a key ally in his national unity government. He may struggle to form an alternative executive, paving the way for the likely victory of a less euro-friendly government amid a spiralling gas crisis. That’s bad news for Italy and for the euro.
Draghi became premier in February 2020 to address the pandemic emergency. His decision to quit follows an open clash with the anti-establishment 5-Star Movement, which failed to back his plan to combat the rising cost of living.
Italy faces the threat of having to ration energy this winter if Russia does not resume its regular export of gas, a move that would surely trigger a recession. Keeping the experienced economist in charge at such a critical juncture would reassure investors that Italy’s already large sovereign debt, 151% of GDP, would not spiral out of control.