the real Al-Nakba: May 29th 1453, Constantinople falls to the Turks

A sad anniversary today: 560 years since the fall of Constantinople to the Ottomans. A lesson to be remembered when again Western Civilization and Islam collide.

This catastrophe led the armies of the Sultan to the gates of Vienna and endangered the whole of Europe. We fought for centuries to reverse this tragedy, but the consequences are still with us: Thrace, Bosnia, Albania...

May 1453 - Ottoman soldiers storm the ramparts of Constantinople

Europe: approaching Zero Lower Bound

Interest Rates of Major Central Banks compared (compiled by Reuters)

With the rates in the Eurozone approaching Zero Lower Bound the room to maneuver is almost nil.

Is it still to early to mobilize the fiscal weapons?

We need something better designed than the clumsy and rather inefficient American 'stimulus'. Maybe Abenomics will teach the EU a thing or two.