Europe

With the ECB snubbing Italy on Friday, and refusing to grant insolvent bank Monte Paschi more time to find a financial rescue, it was of paramount urgency for Italy to announce a replacement government that of outgoing prime minister Matteo Renzi, in order to mitigate concerns about the ongoing political chaos.  As a result, on Sunday, Italy’s President Sergio Mattarella asked departing Foreign Minister Paolo Gentiloni - a loyalist from Renzi's Democratic Party - to form a new government, in the process hopefully bringing to a close a political crisis triggered by a ‘no vote’ in a referendu

One of the largest child sex abuse cases in modern history uncovered by Norwegian police has been shamelessly ignored and covered up by Western media outlets. The year-long investigation named “Operation Darkroom,” has so far resulted in the seizure of 150 terabytes of child porn involving young children and babies, with top politicians, lawyers and authorities implicated in the scandal. Amid the rush to cover-up the pizzagate scandal in the West, media outlets have conducted a co-ordinated coverup of the Norwegian case by refusing to publish any details of it in their newspapers.

Submitted by Alasdair Macloed via GoldMoney.com,

The latest consequence of economic mismanagement in Europe was the failed attempt at constitutional reform in Italy this week.

The Italian people have had enough of their government’s economic failure, and is refusing to give it more power.

 Via The Daily Bell  

 EUROPE’S POPULIST REVOLT  … Donald Trump met with his first foreign ally just a few days after winning the U.S. presidency. But it wasn’t one of the world’s leading statesmen who got the invitation to Trump Tower. It was Nigel Farage, a man once considered a footnote in British politics—but who, in 2016, found himself on the snug inside of one of history’s hairpin turns. -TIME, person of the year

Non-OPEC oil-producing nations struck a deal in Vienna on Saturday to cut crude output by 600,000 barrels a day, joining a pact meant to reduce a global oversupply of crude, lift prices and lend support to economies hurt by a two-year market slump.

The pact, the first between the two sides in 15 years, comes two weeks after OPEC agreed to reduce its own production by 1.2 million barrels a day.