MADRID: A high-profile judge Tuesday dropped an investigation into Franco-era killings, ending what had promised to be the first criminal investigation into alleged atrocities committed by Spain's former dictator and his allies. The judge, Baltasar Garzón, last month declared himself competent to investigate the killings of 114,000 people at the hands of Franco's supporters during the 1936-1939 civil war and the dictatorship that followed and ordered the exhumation of at least 19 mass graves. Garzón had intended to investigate whether crimes against humanity were committed under Franco and, if so, whether 34 former generals and ministers were involved. But the judge said Tuesday that he was dropping the investigation after state prosecutors questioned his jurisdiction in crimes that were committed 70 years ago and that involved dead suspects. In a 152-page statement, Garzón passed responsibility to regional courts for opening 19 mass graves believed hold the remains of hundreds of victims, including those of the poet García Lorca.
MADRID: A high-profile judge Tuesday dropped an investigation into Franco-era killings, ending what had promised to be the first criminal investigation into alleged atrocities committed by Spain's former dictator and his allies.
The judge, Baltasar Garzón, last month declared himself competent to investigate the killings of 114,000 people at the hands of Franco's supporters during the 1936-1939 civil war and the dictatorship that followed and ordered the exhumation of at least 19 mass graves.
Garzón had intended to investigate whether crimes against humanity were committed under Franco and, if so, whether 34 former generals and ministers were involved.
But the judge said Tuesday that he was dropping the investigation after state prosecutors questioned his jurisdiction in crimes that were committed 70 years ago and that involved dead suspects. In a 152-page statement, Garzón passed responsibility to regional courts for opening 19 mass graves believed hold the remains of hundreds of victims, including those of the poet García Lorca.
ROME: Renato Brunetta, minister of public administration and innovation, has won unusual bipartisan support for a bill that promotes principles of transparency, standards and meritocracy in the public sector. Italy's bitterly divided government and opposition don't often see eye to eye, but they have united in declared determination to make the country's deeply entrenched, sclerotic bureaucracy a tad more 21st century. Renato Brunetta, minister of public administration and innovation, has won unusual bipartisan support for a bill that promotes principles of transparency, standards and meritocracy in the public sector. It is, he trumpeted last week, an "epoch-making reform." The extraordinary bipartisan backing for the bill - which foresees crackdowns on proven idlers, widespread restructuring, and an increased monitoring of output - is a tacit acknowledgement that Italy's bureaucratic machine is at the root of the untold inefficiencies that discourage productivity and act as an added drag on an already sluggish economy.
ROME: Renato Brunetta, minister of public administration and innovation, has won unusual bipartisan support for a bill that promotes principles of transparency, standards and meritocracy in the public sector.
Italy's bitterly divided government and opposition don't often see eye to eye, but they have united in declared determination to make the country's deeply entrenched, sclerotic bureaucracy a tad more 21st century.
Renato Brunetta, minister of public administration and innovation, has won unusual bipartisan support for a bill that promotes principles of transparency, standards and meritocracy in the public sector. It is, he trumpeted last week, an "epoch-making reform."
The extraordinary bipartisan backing for the bill - which foresees crackdowns on proven idlers, widespread restructuring, and an increased monitoring of output - is a tacit acknowledgement that Italy's bureaucratic machine is at the root of the untold inefficiencies that discourage productivity and act as an added drag on an already sluggish economy.
I haven't the slightest idea what the good reporter Elisabetta Povoledo is talking about. Beyond an editorial in Sole 24 on promotions, I am at a total lose concerning even the vaguest sign of agreement on the left with whatever Brunetta spouts off. Brunetta spends most of his time gratuitously insulting anyone who is not a devotee of himself and his master, in that order. The past week he insisted that all leftists are "lazy-asses" (Elisabetta uses the genteel term "slackers"). This follows his arrogant snip at the largest workers' union in Italy, the CGIL, "who gives a shit about them," when it comes to negotiating state contracts. He's quite happy to have the minor conservative unions on board. Quislings who represent next to no one.
By the way, his drivel about having cut back absenteeism is unsubstantiated. One wonders if his bulimic compulsion to glorify himself derives from a serious personality disorder.
Former French prime minister Dominique de Villepin has been ordered to stand trial in a criminal court in connection with an alleged smear campaign that targeted President Nicolas Sarkozy. Mr Villepin is accused of orchestrating the leak in 2004 of a faked list of account-holders at the Clearstream bank in Luxembourg, which included Mr Sarkozy's name. The names were supposed to have benefited from illegal commissions from arms sales. A judicial official, speaking on condition of anonymity, said the investigative judges have ordered the conservative ex-premier and four others to stand trial over allegations they had roles in an effort to smear Mr Sarkozy before he was elected. Mr Villepin faces charges of "complicity in slanderous denunciations" -- which he has vigorously denied. He could face up to five years in prison if convicted. Unlike the others, Mr Villepin can appeal the judges' ruling -- but only if he chooses to argue the alleged wrongdoing was conducted as part of his official duties. He was serving as foreign minister at the time of the alleged crimes.
Mr Villepin is accused of orchestrating the leak in 2004 of a faked list of account-holders at the Clearstream bank in Luxembourg, which included Mr Sarkozy's name.
The names were supposed to have benefited from illegal commissions from arms sales.
A judicial official, speaking on condition of anonymity, said the investigative judges have ordered the conservative ex-premier and four others to stand trial over allegations they had roles in an effort to smear Mr Sarkozy before he was elected.
Mr Villepin faces charges of "complicity in slanderous denunciations" -- which he has vigorously denied. He could face up to five years in prison if convicted.
Unlike the others, Mr Villepin can appeal the judges' ruling -- but only if he chooses to argue the alleged wrongdoing was conducted as part of his official duties. He was serving as foreign minister at the time of the alleged crimes.
Europe's schoolchildren will next year get free fruit and vegetables worth £421 million a year under a European Union drive against obesity to be agreed later this week. Brussels policy-makers are concerned that more than 22 million children in the EU are overweight, including at least five million who are obese, a figure that is expected to rise by 400,000 annually.The World Health Organisation recommends a daily intake of 400g of fruit and vegetables per person and most of the EU's 27 member states currently fail to meet that target. Ahead of a meeting of EU farm ministers later this week, MEPs gave their backing on Tuesday to measures that will see healthy farm produce distributed to schools to counter obesity.Details of the free food scheme - financed from the EU budget - including what sort of fruit and vegetables will be offered to pupils is expected to be left to national governments.
Brussels policy-makers are concerned that more than 22 million children in the EU are overweight, including at least five million who are obese, a figure that is expected to rise by 400,000 annually.
The World Health Organisation recommends a daily intake of 400g of fruit and vegetables per person and most of the EU's 27 member states currently fail to meet that target.
Ahead of a meeting of EU farm ministers later this week, MEPs gave their backing on Tuesday to measures that will see healthy farm produce distributed to schools to counter obesity.
Details of the free food scheme - financed from the EU budget - including what sort of fruit and vegetables will be offered to pupils is expected to be left to national governments.
Georgia is expected to ask for an international peacekeeping force in the breakaway regions of Abkhazia and South Ossetia during the second round of talks in the wake of its war with Russia this summer. The Georgian Foreign Ministry wants the international troops to replace Russian forces currently in the areas, reported the RIA Novosti news service. Georgia is also expected to ask during talks on Wednesday, Nov. 19, for a Russian troop withdrawal from areas where it says the Russian forces are in violation of a French-brokered ceasefire. South Ossetia, for its part, accused Georgia over the weekend of violating the agreement and firing at a sentry post inside the rebel region. Russia, which has recognized South Ossetia's and Abkhazia's unilateral declarations of independence, said it was placing 3,800 troops in each region to protect the local populations from Georgian attacks. The second round of talks is scheduled to occur in working groups, with no plenary meeting planned.
The Georgian Foreign Ministry wants the international troops to replace Russian forces currently in the areas, reported the RIA Novosti news service.
Georgia is also expected to ask during talks on Wednesday, Nov. 19, for a Russian troop withdrawal from areas where it says the Russian forces are in violation of a French-brokered ceasefire.
South Ossetia, for its part, accused Georgia over the weekend of violating the agreement and firing at a sentry post inside the rebel region.
Russia, which has recognized South Ossetia's and Abkhazia's unilateral declarations of independence, said it was placing 3,800 troops in each region to protect the local populations from Georgian attacks.
The second round of talks is scheduled to occur in working groups, with no plenary meeting planned.
All the delegations attended "constructive" talks on the Russia-Georgia conflict Wednesday, Nov. 19 and agreed to meet again for another round of negotiations next month, the EU representative to the discussions said. "We had constructive meetings of the two working groups," said Pierre Morel, the EU's special representative to Georgia. As planned, the two groups, with eight delegations in total, met on security and refugee issues for about three hours each. The first round of talks last month ended with Moscow and Tbilisi accusing each other of walking out without the two sides having sat in the same room. "Today, we have taken a big step forward," said Morel, adding that the talks had entered a "fully operational phase."
"We had constructive meetings of the two working groups," said Pierre Morel, the EU's special representative to Georgia. As planned, the two groups, with eight delegations in total, met on security and refugee issues for about three hours each.
The first round of talks last month ended with Moscow and Tbilisi accusing each other of walking out without the two sides having sat in the same room.
"Today, we have taken a big step forward," said Morel, adding that the talks had entered a "fully operational phase."
EUOBSERVER / BRUSSELS - The EU is getting ready to adopt a wide-ranging mandate for a "truth mission" to investigate who started the war in Georgia, as allegations fly over Georgia's shelling of Tskhinvali, the capital of the rebel-held South Ossetia region. "The mission's objective will be to enquire into the origins and evolution of the conflict that started on 7 August 2008, with reference to international law and human rights law. The geographic and temporal scope of the enquiry must be sufficiently large to determine all the possible causes," the EU's draft decision on the enquiry says, a diplomatic contact familiar with the text told EUobserver. A lake in the Alps: Ms Tagliavini's Swiss nationality is to underline the committee's neutrality The proposed EU mandate asks the mission to present a final report to the EU, the UN, the OSCE, Russia and Georgia on 30 November 2009. The international committee is to be chaired by Swiss diplomat Heidi Tagliavini and will be funded out of the EU's €249 million Common Foreign and Security Policy budget for 2009.
EUOBSERVER / BRUSSELS - The EU is getting ready to adopt a wide-ranging mandate for a "truth mission" to investigate who started the war in Georgia, as allegations fly over Georgia's shelling of Tskhinvali, the capital of the rebel-held South Ossetia region.
"The mission's objective will be to enquire into the origins and evolution of the conflict that started on 7 August 2008, with reference to international law and human rights law. The geographic and temporal scope of the enquiry must be sufficiently large to determine all the possible causes," the EU's draft decision on the enquiry says, a diplomatic contact familiar with the text told EUobserver.
A lake in the Alps: Ms Tagliavini's Swiss nationality is to underline the committee's neutrality
The proposed EU mandate asks the mission to present a final report to the EU, the UN, the OSCE, Russia and Georgia on 30 November 2009.
The international committee is to be chaired by Swiss diplomat Heidi Tagliavini and will be funded out of the EU's €249 million Common Foreign and Security Policy budget for 2009.
EUOBSERVER / BRUSSELS - France has unveiled plans for a post-French EU presidency financial summit, despite the Czech Republic's sensitivity over its upcoming chairmanship of the EU. The Elysee Palace on Tuesday (18 November) formally announced an "international summit" to be held in Paris on 8 January, entitled "New World: Values, Development and Regulation," continuing France's ambition to create a "new model" for capitalism in the wake of the global financial crisis. Mr Sarkozy - known for having a high-octane personality, is to chair another major international meeting The meeting is to bring together international leaders as well as intellectuals such as economist Joseph Stiglitz and philosopher Francis Fukuyama and will be co-chaired by French President Nicolas Sarkozy and former British PM Tony Blair. The move comes after a G20 summit in Washington last weekend fell short of EU hopes to tighten global financial regulation. The new Paris meeting is the latest in a long line of high-powered events organised by France since it took over the EU helm in July. An EU presidency normally hosts two EU summits, but Mr Sarkozy has already added one extraordinary Georgia war summit, one special financial crisis summit, a eurozone summit and a G4 financial summit.
EUOBSERVER / BRUSSELS - France has unveiled plans for a post-French EU presidency financial summit, despite the Czech Republic's sensitivity over its upcoming chairmanship of the EU.
The Elysee Palace on Tuesday (18 November) formally announced an "international summit" to be held in Paris on 8 January, entitled "New World: Values, Development and Regulation," continuing France's ambition to create a "new model" for capitalism in the wake of the global financial crisis.
Mr Sarkozy - known for having a high-octane personality, is to chair another major international meeting
The meeting is to bring together international leaders as well as intellectuals such as economist Joseph Stiglitz and philosopher Francis Fukuyama and will be co-chaired by French President Nicolas Sarkozy and former British PM Tony Blair.
The move comes after a G20 summit in Washington last weekend fell short of EU hopes to tighten global financial regulation.
The new Paris meeting is the latest in a long line of high-powered events organised by France since it took over the EU helm in July. An EU presidency normally hosts two EU summits, but Mr Sarkozy has already added one extraordinary Georgia war summit, one special financial crisis summit, a eurozone summit and a G4 financial summit.
Tony Blair is to co-host a summit on the global financial crisis with President Nicolas Sarkozy in January, in a move likely to infuriate Gordon Brown. Mr Blair's office has been in in touch with the Prime Minister to invite him to the Paris conference, but Mr Brown has so far refused to accept the invitation, with an official saying last night he was still considering his "diary commitments".Sources said that Mr Brown was "relaxed" about the event taking place.However, any attempt by Mr Blair to overshadow Mr Brown's efforts on the world stage is likely to anger Downing Street aides. He has rebuilt his political reputation by claiming to lead the world in tackling the global financial crisis - most recently with a "road map" for financial reform he presented at a G20 summit last weekend.But he may now have to contend with Mr Blair taking on a formal role in the global response to the economic crisis.The summit will come days before Barack Obama is sworn in as US President on Jan 20, and threatens to upstage a follow-up G20 summit that Mr Brown is expected to host in London in April.
Mr Blair's office has been in in touch with the Prime Minister to invite him to the Paris conference, but Mr Brown has so far refused to accept the invitation, with an official saying last night he was still considering his "diary commitments".
Sources said that Mr Brown was "relaxed" about the event taking place.
However, any attempt by Mr Blair to overshadow Mr Brown's efforts on the world stage is likely to anger Downing Street aides. He has rebuilt his political reputation by claiming to lead the world in tackling the global financial crisis - most recently with a "road map" for financial reform he presented at a G20 summit last weekend.
But he may now have to contend with Mr Blair taking on a formal role in the global response to the economic crisis.
The summit will come days before Barack Obama is sworn in as US President on Jan 20, and threatens to upstage a follow-up G20 summit that Mr Brown is expected to host in London in April.
However, any attempt by Mr Blair to overshadow Mr Brown's efforts on the world stage is likely to anger Downing Street aides.
That's interesting. The Telegraph seems to be implying that Brown and his team are merely "aides" to Blair. No wonder they're "angered". The fact is that what we're experiencing right now is a top-down disaster. -Paul Krugman
WASHINGTON: President Nicolas Sarkozy of France left the summit meeting of 20 nations on the financial crisis last weekend in Washington declaring that it had changed the world. Then he went home and announced that he was holding another summit meeting in a few weeks on the same topic. Sarkozy did not tell President George W. Bush or other leaders about his plans while he was here, according to European and American officials. A senior European diplomat said that he found the whole exercise "amazing," while an American official said "amazing" was a charitable description. French officials said the Paris meeting, which is scheduled for Jan. 8 and 9 is to be co-hosted by the former British prime minister Tony Blair, was merely a conference - one intended to bring together political leaders and prominent thinkers to discuss issues like globalization and the values of capitalism.
WASHINGTON: President Nicolas Sarkozy of France left the summit meeting of 20 nations on the financial crisis last weekend in Washington declaring that it had changed the world. Then he went home and announced that he was holding another summit meeting in a few weeks on the same topic.
Sarkozy did not tell President George W. Bush or other leaders about his plans while he was here, according to European and American officials.
A senior European diplomat said that he found the whole exercise "amazing," while an American official said "amazing" was a charitable description.
French officials said the Paris meeting, which is scheduled for Jan. 8 and 9 is to be co-hosted by the former British prime minister Tony Blair, was merely a conference - one intended to bring together political leaders and prominent thinkers to discuss issues like globalization and the values of capitalism.
I'm sure the US response was laughable, but the early date means there will almost certainly be yet another conference after Obama's inauguration.
ps blair is an economic numbskull. what's he there for ? keep to the Fen Causeway
The European Parliament on Tuesday (18 November) lifted the immunity of Belgian far-right MEP Frank Vanhecke, who is facing racism charges in Belgium. MEPs voted by 564 for and 61 against to lift his immunity, while 42 abstained. The Belgian deputy of the Flemish nationalist party Vlaams Belang is accused of publishing and editing a political pamphlet in 2005 which wrongly accused "foreigners" of desecrating cemeteries. Mr Vanhecke had accused "foreigners" of vandalism in 2005 The text also said: "a culture which has no respect for the dead or for the symbols of a different faith is a delinquent culture," according to French news agency AFP. It later transpired that four local Flemish young people were guilty of the crimes the "foreigners" had been accused of in Saint-Nicolas, a town in Flanders, Belgium's Dutch-speaking northern region. MEPs dispose of an immunity which prevents them from being "wanted, detained or sued because of opinions or votes emitted by them in the exercise of their functions."
The European Parliament on Tuesday (18 November) lifted the immunity of Belgian far-right MEP Frank Vanhecke, who is facing racism charges in Belgium.
MEPs voted by 564 for and 61 against to lift his immunity, while 42 abstained.
The Belgian deputy of the Flemish nationalist party Vlaams Belang is accused of publishing and editing a political pamphlet in 2005 which wrongly accused "foreigners" of desecrating cemeteries.
Mr Vanhecke had accused "foreigners" of vandalism in 2005
The text also said: "a culture which has no respect for the dead or for the symbols of a different faith is a delinquent culture," according to French news agency AFP.
It later transpired that four local Flemish young people were guilty of the crimes the "foreigners" had been accused of in Saint-Nicolas, a town in Flanders, Belgium's Dutch-speaking northern region.
MEPs dispose of an immunity which prevents them from being "wanted, detained or sued because of opinions or votes emitted by them in the exercise of their functions."
EUOBSERVER / DUBLIN / STRASBOURG - Speaking in the Irish parliament on Tuesday (18 November), Declan Ganley, the head of anti-Lisbon campaign group Libertas, said the Irish government had encouraged other EU states to continue with ratification of the Lisbon treaty in order to increase pressure on Irish citizens. The Irish Parliament's sub-committee on Ireland's Future in Europe is due to hand in its report to the Irish government by the end of the month "It is very clear to me that some who should be representing Ireland wish it to be isolated," he told the parliamentary sub-committee on Ireland's Future in Europe. "There is a charade being played in this country right now to walk us into another referendum." The sub-committee was set up in the wake of last June's rejection of the Lisbon treaty and is due to hand in its report to the Irish government by the end of the month. Earlier in discussions, Mr Ganley suggested that the British foreign secretary, David Miliband, had told the Irish government that they would be prepared to halt British ratification of the Lisbon treaty.
EUOBSERVER / DUBLIN / STRASBOURG - Speaking in the Irish parliament on Tuesday (18 November), Declan Ganley, the head of anti-Lisbon campaign group Libertas, said the Irish government had encouraged other EU states to continue with ratification of the Lisbon treaty in order to increase pressure on Irish citizens.
The Irish Parliament's sub-committee on Ireland's Future in Europe is due to hand in its report to the Irish government by the end of the month
"It is very clear to me that some who should be representing Ireland wish it to be isolated," he told the parliamentary sub-committee on Ireland's Future in Europe.
"There is a charade being played in this country right now to walk us into another referendum."
The sub-committee was set up in the wake of last June's rejection of the Lisbon treaty and is due to hand in its report to the Irish government by the end of the month.
Earlier in discussions, Mr Ganley suggested that the British foreign secretary, David Miliband, had told the Irish government that they would be prepared to halt British ratification of the Lisbon treaty.
A Russian court reversed a decision to open to the public the trial of four men charged in connection with the 2006 murder of reporter and Kremlin critic, Anna Politkovskaya. The Moscow District Military Court ruled that the media and public would be barred from the trial after the jury's refusal to hear the case in front of the press. "This trial will continue as a closed trial," said Judge Yevgeny Zubov, who is presiding over the case. "This is considering the security of the participants in the trial, that of their relatives and their loved ones." Zubov's decision came after his ruling on the first day of the trial on Monday, when he said the proceedings would be open but that he had the right to close them. Politkovskaya, an award-winning reporter for the Novaya Gazeta, was a fierce critic of the Kremlin's actions during two wars in Chechnya in the early 1990s.
The Moscow District Military Court ruled that the media and public would be barred from the trial after the jury's refusal to hear the case in front of the press.
"This trial will continue as a closed trial," said Judge Yevgeny Zubov, who is presiding over the case. "This is considering the security of the participants in the trial, that of their relatives and their loved ones."
Zubov's decision came after his ruling on the first day of the trial on Monday, when he said the proceedings would be open but that he had the right to close them.
Politkovskaya, an award-winning reporter for the Novaya Gazeta, was a fierce critic of the Kremlin's actions during two wars in Chechnya in the early 1990s.
EUOBSERVER / BRUSSELS - Thousands of raucous tobacco farmers from across Europe mounted a demonstration in the EU capital on Wednesday (19 November), setting alight a bonfire of tobacco leaves outside the European Council building in protest at changes to EU subsidies. Claiming a crowd of 10,000 tobacco growers and workers from processing factories, organisers had called the day of action in Brussels to coincide with a meeting of EU agriculture ministers on the Common Agricultural Policy "health check." Tobacco farmers marching in Brussels against subsidy cuts on Wednesday The farmers and workers say the proposed cut of half their subsidies from 2010 will result in massive job losses across the industry. The protesters demanded that existing subsidies, which link the money to production volumes, be extended to 2013 to give them more time to adjust to EU agricultural sector reforms and said they were hoping for a favourable decision from the agriculture ministers meeting today. A 2004 agreement by member states will from 2010 see half of the payments to tobacco farmers delivered to a restructuring fund to help the sector switch to other crops.
EUOBSERVER / BRUSSELS - Thousands of raucous tobacco farmers from across Europe mounted a demonstration in the EU capital on Wednesday (19 November), setting alight a bonfire of tobacco leaves outside the European Council building in protest at changes to EU subsidies.
Claiming a crowd of 10,000 tobacco growers and workers from processing factories, organisers had called the day of action in Brussels to coincide with a meeting of EU agriculture ministers on the Common Agricultural Policy "health check."
Tobacco farmers marching in Brussels against subsidy cuts on Wednesday
The farmers and workers say the proposed cut of half their subsidies from 2010 will result in massive job losses across the industry.
The protesters demanded that existing subsidies, which link the money to production volumes, be extended to 2013 to give them more time to adjust to EU agricultural sector reforms and said they were hoping for a favourable decision from the agriculture ministers meeting today.
A 2004 agreement by member states will from 2010 see half of the payments to tobacco farmers delivered to a restructuring fund to help the sector switch to other crops.
Did they have allowance to build a bonfire of a dangerous substance? How big was it? You might charge some people...
European fisheries ministers have agreed a plan aimed at increasing dwindling cod stocks. The new plans envisage using better nets that allow smaller cod to escape, as well as closing certain areas to fishing when cod are spawning. Ministers have admitted the plan will be difficult for fishermen to achieve. But they say the incentive will be larger quotas in areas like the North Sea, where cod stocks are beginning to recover.
European fisheries ministers have agreed a plan aimed at increasing dwindling cod stocks.
The new plans envisage using better nets that allow smaller cod to escape, as well as closing certain areas to fishing when cod are spawning.
Ministers have admitted the plan will be difficult for fishermen to achieve.
But they say the incentive will be larger quotas in areas like the North Sea, where cod stocks are beginning to recover.
The UK Government has raised more than £50 million in the world's first official carbon auction. Under the European emissions trading scheme (EU ETS), energy intensive industries - that are responsible for half the region's emissions - are given an allowance for the amount of carbon dioxide they produce. A certain number of these "carbon credits" are given to each of the 12,000 companies in the scheme and then traded in a "cap and trade" scheme that ensures companies that want to pollute more have to pay and industries that cut emissions are rewarded. However so far the "cap and trade" system has been criticised as companies that pollute tend to pass on the cost to the consumer, while other companies are making huge profits from selling excess credits. In order to claw back some of the money and to better control the price of carbon so that industry is forced to cut emissions, the UK Government has put seven per cent - or four million of these allowances - in an open auction.
Under the European emissions trading scheme (EU ETS), energy intensive industries - that are responsible for half the region's emissions - are given an allowance for the amount of carbon dioxide they produce.
A certain number of these "carbon credits" are given to each of the 12,000 companies in the scheme and then traded in a "cap and trade" scheme that ensures companies that want to pollute more have to pay and industries that cut emissions are rewarded.
However so far the "cap and trade" system has been criticised as companies that pollute tend to pass on the cost to the consumer, while other companies are making huge profits from selling excess credits.
In order to claw back some of the money and to better control the price of carbon so that industry is forced to cut emissions, the UK Government has put seven per cent - or four million of these allowances - in an open auction.
The UK government was under fire today for "undermining" the European Union's fight against climate change by auctioning off carbon allowances for the first time and not earmarking the cash for "green" projects. Around four million permits are being distributed today under a new phase of the European Union's (EU) emissions trading scheme (ETS) with expected receipts of up to £60m going to the Treasury for general spending purposes."The policy of the UK government on this issue undermines the very purpose of the EU ETS... Auctioning undermines this flexible mechanism as it takes money away from those who can do something about climate change, the emitters, and it gives it to those who can't, the politicians," said James Emanuel at emissions trading broker, CantorCO2e.The Institute for Public Policy Research (IPPR) said ministers should change their mind and use the cash specifically for projects such as improving energy efficiency of homes, investing in low-carbon technologies and helping poorer countries cope with climate change.
The UK government was under fire today for "undermining" the European Union's fight against climate change by auctioning off carbon allowances for the first time and not earmarking the cash for "green" projects.
Around four million permits are being distributed today under a new phase of the European Union's (EU) emissions trading scheme (ETS) with expected receipts of up to £60m going to the Treasury for general spending purposes.
"The policy of the UK government on this issue undermines the very purpose of the EU ETS... Auctioning undermines this flexible mechanism as it takes money away from those who can do something about climate change, the emitters, and it gives it to those who can't, the politicians," said James Emanuel at emissions trading broker, CantorCO2e.
The Institute for Public Policy Research (IPPR) said ministers should change their mind and use the cash specifically for projects such as improving energy efficiency of homes, investing in low-carbon technologies and helping poorer countries cope with climate change.
This is worse than it looks, because the Right in the UK is already convinced that climate change only exists as an excuse to raise taxes.
So if carbon permits are used as general taxation and not as funding for green investment - that's not only politically idiotic, it's criminally irresponsible.
But using this to plug holes in the budget is not going to be very popular.
There is a lot to be said for shifting taxation from labour to pollution.
Absolutely true. Sadly, there's more to be said for constructing new and improved, complex structured securities and exchanges for their sale. ...especially in light of "pent up demand" (or "idle money") the business press ascribes to the current so-called asset price deflation SPIRAL. Free marketers aren't even close to coupling hard assets to money supplied by "independent" central banks. Are they? I may have missed that discussion at TEH SUMMIT, and I've had trouble detecting "expert" opposition to "cap and trade" claims to Keynesian benefits.
Meanwhile ... | Bloomberg | 19 Nov 2008
The benefit [?1] of the drop in prices can be seen in its effect on incomes. Today's figures also showed wages increased 1.4 percent after adjusting for inflation [?! a negative MoM rate?!], following no change in September. They were still down 0.9 percent over the last 12 months. The decline in purchasing power is contributing to the slowdown in consumer spending. Retail sales fell 2.8 percent last month, the most on record, Commerce Department figures showed last week. Mounting job losses and record foreclosures are causing American consumers, who account for more than two-thirds of the economy, to retrench [how subtle]. Wal-Mart, the world's largest retailer, said yesterday it planned to reduce U.S. prices on Thanksgiving food and Christmas merchandise to lure customers during the holidays. Price 'Rollbacks' [Wal-mart brand tag until, uh oh, this summer] "You'll see a lot of rollbacks," Eduardo Castro-Wright, Wal-Mart's U.S. stores chief, told analysts at a Morgan Stanley conference in New York. Rollbacks refer to price reductions the retailer scatters throughout grocery, pharmacy and other departments to spur sales. Target, the second-largest U.S. discounter, said this week it plans to add grocery items and offer "sharper" discounts to draw shoppers who are shunning jewelry, clothing and home goods, which account for more than 40 percent of its revenue. "Right now, the consumer is very hesitant," Chief Executive Officer Gregg Steinhafel said during the company's Nov. 17 earnings call. "They're very stressed." Sales of clothing and home goods have been "sharply lower," partly because of banks decreasing consumer credit limits [?!], Chief Financial Officer Douglas Scovanner said during the call. Leaders in the U.S., Europe and Asia are calling for increased government spending to make up for the loss of consumer purchasing power [i.e. "disinflation" or post-Phillips "stagflation" epithet or, simply put, deflation and employment destruction] and lessen the global recession.
Retail sales fell 2.8 percent last month, the most on record, Commerce Department figures showed last week. Mounting job losses and record foreclosures are causing American consumers, who account for more than two-thirds of the economy, to retrench [how subtle].
Wal-Mart, the world's largest retailer, said yesterday it planned to reduce U.S. prices on Thanksgiving food and Christmas merchandise to lure customers during the holidays.
Price 'Rollbacks' [Wal-mart brand tag until, uh oh, this summer]
"You'll see a lot of rollbacks," Eduardo Castro-Wright, Wal-Mart's U.S. stores chief, told analysts at a Morgan Stanley conference in New York. Rollbacks refer to price reductions the retailer scatters throughout grocery, pharmacy and other departments to spur sales.
Target, the second-largest U.S. discounter, said this week it plans to add grocery items and offer "sharper" discounts to draw shoppers who are shunning jewelry, clothing and home goods, which account for more than 40 percent of its revenue.
"Right now, the consumer is very hesitant," Chief Executive Officer Gregg Steinhafel said during the company's Nov. 17 earnings call. "They're very stressed."
Sales of clothing and home goods have been "sharply lower," partly because of banks decreasing consumer credit limits [?!], Chief Financial Officer Douglas Scovanner said during the call.
Leaders in the U.S., Europe and Asia are calling for increased government spending to make up for the loss of consumer purchasing power [i.e. "disinflation" or post-Phillips "stagflation" epithet or, simply put, deflation and employment destruction] and lessen the global recession.
This story isn't about seasonality. It began over 18 mons ago with market saturation of same-store consumer credit contracts such as "0 down, 0 interest for 1 year" in home furnishing/improvement sectors. The Big 3 started a GMAC-unfunded price war two years ago. 10 years ago, more or less, financial services firms got Gramm-Leachey. Market failure is now spread into non-durables sectors where operating capacity and market expansion where profit-centers never existed -- firm-level competition within a sector for any income to service debt incurred and rolled-over at variable --not fixed-- rates (PPI) over the same period. This is the logical conclusion to the "loss leadership" rationale of entrepreneurial opportunity.
Retail price discounts like "redeemable loyalty rewards" and not unlike mark-to-market securities valuations are a GAAP balance sheet component (loss reserve, current or long-term liability, depending on coupon expiry) and P&L component (GA or marketing expense). The greater the value and duration of "discounts," the greater the obligations imputed to ("impairment" of) future income and market cap.
This story, this "price level stability" problem of fiscal remedy married to unregulated product or labor markets, is so 1900-1934 (including The Great War stimulus package). Wankers.
Consumers will NOT get deficit dollars to subsidize their switching costs simply because their representatives are absolutely committed to preserving a finance economy -- microeconomics of "from whom shall I borrow money and at what interest rate?" since I own no productive property except my body. Sorta. Diversity is the key to economic and political evolution.
Every police force in the UK was tonight scouring the leaked British National party membership list for names of serving officers, after the Merseyside force confirmed it was investigating one officer's links to the far-right party.The Prison Service pledged to oust any employee on the list and far-right supporters spoke of fear for their livelihoods as the BNP was plunged into crisis.Party officials complained that hundreds of members had received threatening or abusive telephone calls within hours of the list being posted on the internet, and feared that the episode could lead to a damaging slump in support and membership.Merseyside police, who discovered the name of one of its constables on the list, identified him and said that he had served briefly as the chief constable's driver. A spokesman said: "We are very clear: membership of the British National party is totally incompatible with the duties and values of the police service and Merseyside police. We will not accept a police officer or police staff being a member of BNP. As a matter of urgency, we have immediately started an investigation into all aspects of this case."Scotland Yard, Surrey and West Yorkshire police also confirmed that they were studying the list, and the Association of Chief Police Officers said it expected every other force to follow suit.
Every police force in the UK was tonight scouring the leaked British National party membership list for names of serving officers, after the Merseyside force confirmed it was investigating one officer's links to the far-right party.
The Prison Service pledged to oust any employee on the list and far-right supporters spoke of fear for their livelihoods as the BNP was plunged into crisis.
Party officials complained that hundreds of members had received threatening or abusive telephone calls within hours of the list being posted on the internet, and feared that the episode could lead to a damaging slump in support and membership.
Merseyside police, who discovered the name of one of its constables on the list, identified him and said that he had served briefly as the chief constable's driver. A spokesman said: "We are very clear: membership of the British National party is totally incompatible with the duties and values of the police service and Merseyside police. We will not accept a police officer or police staff being a member of BNP. As a matter of urgency, we have immediately started an investigation into all aspects of this case."
Scotland Yard, Surrey and West Yorkshire police also confirmed that they were studying the list, and the Association of Chief Police Officers said it expected every other force to follow suit.
November 18th, 2008 by Pierre Noël, University of Cambridge Conventional wisdom has it that Russia dominates Europe's natural gas market, and that European imports of Russian gas are growing and can only continue to grow. This supposedly places the EU in a dangerous state of dependency and compromises its strategic position towards Russia. All sides of the debate over Europe's Russia policy share these premises, including those "realists" who argue that dependency on Russian gas makes it irresponsible for the EU to pursue policies that antagonise Moscow. But the conventional wisdom is wrong: Europe's gas supply is not dominated by Russia, or, for that matter, by any other exporter. Since 1980, and particularly since 1995, Europe has considerably diversified its sources of gas imports. Today, for the EU as a whole, gas supply diversity is not a pressing problem. As the figure below shows, over the past 40 years, natural gas consumption has grown steadily in Europe, and much faster than primary energy consumption. (Gas now accounts for around a quarter of energy use in Europe.) Since the mid-1970s, imports have covered all this growth. In 2007, Europe imported 300 billion cubic metres (bcm) of gas, accounting for 60% of consumption.
Conventional wisdom has it that Russia dominates Europe's natural gas market, and that European imports of Russian gas are growing and can only continue to grow. This supposedly places the EU in a dangerous state of dependency and compromises its strategic position towards Russia. All sides of the debate over Europe's Russia policy share these premises, including those "realists" who argue that dependency on Russian gas makes it irresponsible for the EU to pursue policies that antagonise Moscow. But the conventional wisdom is wrong: Europe's gas supply is not dominated by Russia, or, for that matter, by any other exporter. Since 1980, and particularly since 1995, Europe has considerably diversified its sources of gas imports. Today, for the EU as a whole, gas supply diversity is not a pressing problem.
As the figure below shows, over the past 40 years, natural gas consumption has grown steadily in Europe, and much faster than primary energy consumption. (Gas now accounts for around a quarter of energy use in Europe.) Since the mid-1970s, imports have covered all this growth. In 2007, Europe imported 300 billion cubic metres (bcm) of gas, accounting for 60% of consumption.
