Dresden - Page 2

Berlin (AFP) – Seventy years ago Allied bombing laid waste to the historic German city of Dresden, whose post-war image as a symbol of peace has been dented recently by anti-Islamic protests.

PEGIDA, the acronym for the German civil society group Patriotic Europeans Against the Islamization of the West, has found fertile ground for growth across Europe, from Norway to Bulgaria. The movement appears to be eyeing its chapter in Spain as the most likely to grow into the tens of thousands in membership as it did in Germany, however, where Germans are expected to join the nation’s inaugural PEGIDA march.

It’s far from certain, but the impending Greek crisis rerun during the next month poses a real threat that Greece might have to leave the eurozone and start printing drachmas again, with the result that bankers and politicians are drawing up contingency plans in case it happens.

The anti-radical Islam group Patriotic Europeans Against the Islamization of the West (PEGIDA) stages a protest every Monday in its native Dresden, Germany. On January 12, however, the group convened its largest rally yet, with 25,000 participants–significantly more due to last week’s terrorist attack in Paris, France. Attendees at the rally posted pictures and videos on social media.

German officials asked the Patriotic Europeans Against the Islamization of the West (PEGIDA) organization to cancel a rally scheduled on Monday due to the terrorism attacks in Paris, France.

Years of lax immigration laws throughout all of Europe, set against the backdrop of an influx in migrants from Islamic countries, has led to one in eight Germans admitting that they would join an anti-Muslim march if growing protests lend themselves to the rise of such a situation.

In his weekly investors newsletter, investment guru John P. Hussman says that he’s in the camp that believes that “the likelihood of a market loss on the order of 40%, 50% or even 60% in the next few years is quite high.”