- Posted August 1, 2012 by
This iReport is part of an assignment:
Eye On Europe - Overnight Edition - July 31/August 1
Europe continues to be the boiling cauldron which may affect the US presidential election and plunge the world into another financial meltdown. European leaders continue to try and work through the troubling fiscal issues and squabble over austerity versus spending.
The Markets: European markets closed mixed. Britain's FTSE 100 slid 0.8% and CAC 40 dropped 0.5%, while the DAX in Germany rose 0.2%.
The unemployment rate for the 17-nation eurozone held steady from the previous month at a record 11.2% in June, according to Eurostat, the European Union's statistical office. In the broader 27 nations that make up the EU, the unemployment rate in June remained at 10.4% -- unchanged from May.
Eurostat also said that inflation was unchanged in July, at 2.4%.
Lithuania: A Belarusian man driving a Porsche sports car emblazoned with the red and yellow flag of the Soviet Union was denied entry into Lithuania on Tuesday on the grounds that the public display of such symbols in the Baltic country is illegal.
Under the rule of the former Soviet Union for almost half a century, Vilnius banned the public display of Soviet symbols in 2008, sparking protests from former colonial master Russia.
The bonnet of the offending Porsche 966 - driven by a 26-year-old man - had a giant Soviet flag painted on it complete with a yellow hammer and sickle symbol and star, Rokas Pukinskas, a spokesman for Lithuania's state border guard service, told Reuters.
"The border guards suggested the driver leave his car behind and enter Lithuania by foot or by bus, which he refused to do", Pukinskas added.
Belarus, ruled by former Soviet collective farm boss Alexander Lukashenko since 1994, revels in its past as one of the Soviet Union's 15 republics and encourages nostalgia for the defunct state.
Lithuania and Hungary are the only two European Union countries to outlaw public displays of Soviet symbols. However, the fine of 500-1000 litas (150-280 euros) for violators in Lithuania is rarely issued.
From the Cornfield, we must remain vigilant less we get caught with our pants down in the event the Euro Zone crumbles.