Europe

Today's stunning expulsion of Qatar from the Saudi "circle of friends" prompted some analysts to ask if in Qatar's immediate futures is a departure from OPEC.

Diplomatic relations between NATO members Germany and Turkey hit rock bottom on Monday when Germany's foreign minister Sigmar Gabriel said his country has no choice but to begin the process of pulling its forces out of Turkey's Incirlik air force base as the Turkish government will not allow all German lawmakers to visit troops there.

"Turkey has made clear that, for domestic political reasons, it cannot approve visits of all lawmakers," Gabriel told a news conference after meeting Turkish Foreign Minister Mevlut Cavusoglu in Ankara.

Having told its employees "don't panic" over the weekend (at the crashing stock and bond prices of Spain's 6th largest bank), it appears investors are ignoring that message as Banco Popular's credit curve has inverted for the first time since 2012 in the biggest red flag yet that Spain's banking crisis is systemic and about to test the EU's bail-in laws.

Banco Popular Chairman Emilio Saracho sent a letter to staff assuring them the bank remains solvent after Friday's stock crash, courtesy of Expansion, google translated:

Authored by Martin Armstrong via ArmstrongEconomics.com,

While the leftists are out in force against Trump calling him racist and whatever else they can dream up for his travel ban from countries with Islamic terrorism, we are starting to see European protest against the anti-Trump movement.

Authored by John Rubino via DollarCollapse.com,

It’s just common sense: Borrow too much money and the weight of this debt makes it hard to do things that used to be easy. This truism is now (finally!) hitting home, and blame is being apportioned. A couple of recent examples:

Over The Last 10 Years The U.S. Economy Has Grown At EXACTLY The Same Rate As It Did During The 1930s