European banks are now awash in toxic debt. According to a respected auditing firm, the level of debt owned by European banks that is unlikely to be repaid has risen to more than €1 billion, well over a trillion dollars. Greece and Spain are among the largest sources of these potential defaults.
In other news, in the wake of the Toulouse murders — after which attacks on French Jews increased — the chief rabbi of France says that there may no longer be a future for Jews in France.
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