European Salon de News, Discussion et Klatsch - 26 January

by afew
Wed Jan 25th, 2012 at 04:25:25 PM EST

 A Daily Review Of International Online Media 


Europe on this date in history:

1924 - Saint Petersburg, renamed Petrograd in 1914, becomes Leningrad; returned to Saint Petersburg in 1991

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by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jan 25th, 2012 at 12:17:40 PM EST
Most people remain 'unconcerned' by demographic change: theparliament.com
A new Eurobarometer survey shows that 71 per cent of Europeans are aware that Europe's population is getting older.

However, it goes on to say that only 42 per cent are concerned about this development.

This, it says, is in "stark contrast" with the perceptions of policymakers, who regard demographic ageing as a major challenge.

For most citizens who were surveyed, people aged 55 years and older are considered to play a major role in key areas of society.

Over 60 per cent believe that the public should be allowed to continue working after retirement age and one third says that they would like to work longer themselves.

People closer to retirement are more likely to share this view than the younger generation.

The survey comes as the EU last week launched the 2012 European year of active ageing and solidarity of generations.
by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jan 25th, 2012 at 12:46:55 PM EST
[ Parent ]
It would help if governments understood this and stopped encouraging companies to make people redundant at 50.

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Thu Jan 26th, 2012 at 02:52:19 AM EST
[ Parent ]
Greece locked in chicken-and-egg bond deal dilemma | EurActiv

Greece must underscore its political commitment to economic reforms if it is to receive a second EU bailout, finance ministers meeting in Brussels warned yesterday (24 January). Meanwhile, Greece's creditor banks argue they cannot fulfil their part of the deal unless the EU first commits the money.

"All Greek [political] parties must agree to the [austerity] measures and a new programme, independently of the upcoming elections," German Finance Minister Wolfgang Schäuble told journalists after a meeting of EU finance ministers in Brussels.

New government expected in Athens

Greece is expected to stage snap elections before 8 April. Antonis Samaras, whose centre-right New Democracy party governs in coalition with technocrat Prime Minister Lucas Papademos, has openly criticised some austerity measures prescribed by international lenders.

Opinion polls suggest Samaras would win an election, but he would need to form a coalition with other parties to gain a mandate for governing.

by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jan 25th, 2012 at 12:54:41 PM EST
[ Parent ]
Barroso quiet as Hungary talks stagger | EurActiv

A meeting between European Commission President José Manuel Barroso and Hungarian Prime Minister Viktor Orbán, aimed at bridging differences over Hungary's controversial state reforms, ended up inconclusively yesterday (24 January). Meanwhile, finance ministers opened the way for sanctions to be imposed on Budapest over its deficit.

Orbán took a conciliatory tone after the end of his visit to the Commission's headquarters, but the statement, released by Barroso's office, made it clear there was little progress.

Piling further pressure on Orbán, EU finance ministers issued a statement just before the meeting, warning that Hungary could see its regional funding cut if it continues to break the EU's deficit limits.

Orbán was expected to present a calendar for changes to recently enacted Hungarian laws that the Commission and critics say could undermine the independence of the country's central bank, data protection authority and judiciary.

On 17 January the Commission launched infringement procedures in those three fields, giving the Hungarian authorities one month to respond.

by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jan 25th, 2012 at 01:03:27 PM EST
[ Parent ]
Meanwhile, the IMF issued its review, and, perhaps surprisingly, named the flat tax as the main deficit-causing problem.

Also meanwhile, there is at least one European body that is intent on dealing with Fidesz's legal coup in a truly broad way: the Venice Commission (a body under the Council of Europe which reviews laws) wants to review several more laws beyond what it already reviewed last year (those included the new constitution itself).

*Lunatic*, n.
One whose delusions are out of fashion.

by DoDo on Thu Jan 26th, 2012 at 05:19:26 AM EST
[ Parent ]
EUobserver.com / Foreign Affairs / Organised crime problem dogs EU record on Kosovo

BRUSSELS - Four years after the EU's biggest-ever police mission came to Kosovo it has not indicted any top suspects on organised crime, posing questions about its work and the integrity of Kosovo's leaders.

Eulex itself is proud of its record. Its training of Kosovo police and customs is a success story. When the EU completes its Eulex review in the next few weeks, it is expected to reduce personnel to let local officers take over many day-to-day functions.

Eulex' spokesman in Pristina, Nicholas Hawton, told EUobserver it also has "clear results" in chasing criminals in its war-scarred and politically complex theatre of operations.

He added it has 350 ongoing criminal investigations and that its judges have handed down 220 verdicts - 15 on organised crime and 20 on war crimes. One of the investigations concerns accusations that Kosovo Prime Minister Hashim Thaci used to run an organ trafficking gang. On the shocking case of Enver Zymberi - a Kosovar Albanian policeman murdered by a Serb sniper last year - its investigation has led Interpol to issue six arrest warrants.

by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jan 25th, 2012 at 01:25:41 PM EST
[ Parent ]
UK economy heads for recession | Reuters

(Reuters) - Britain's economy may have entered a mild recession in the last three months of 2011, hampering the government's core policy aim of spurring growth and raising the chances that the Bank of England will inject more cash soon.

Britain's recovery from the 2008/2009 recession - the deepest since the depression-hit 1930s - has already been sluggish, and unemployment has crept up to a 17-year high as the government cuts spending deeply to erase a huge budget deficit.

The economy shrank by 0.2 percent at the end of 2011, the Office for National Statistics said on Wednesday, a bit more than economists expected as a stagnating services sector failed to offset a slump in manufacturing and construction.

by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jan 25th, 2012 at 02:55:56 PM EST
[ Parent ]
Duh.
by ThatBritGuy (thatbritguy (at) googlemail.com) on Thu Jan 26th, 2012 at 05:10:11 AM EST
[ Parent ]
BBC News - Merkel says 'big rethink needed'

Germany's Chancellor Angela Merkel has told the World Economic Forum that a "big rethink" is needed in the eurozone within the global economy.

"Structural reforms that lead to more jobs are essential," she told delegates at the Swiss resort of Davos. "Do we dare to be more European?"

by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jan 25th, 2012 at 03:03:24 PM EST
[ Parent ]
BBC News - Scottish independence: Alex Salmond outlines referendum question

Scotland's First Minister Alex Salmond has set out the question he intends to ask voters in a referendum on Scottish independence.

The SNP leader said Scots would be asked: "Do you agree that Scotland should be an independent country?" in a ballot which he wants to hold in 2014.

But a consultation launched by Mr Salmond asks if voters favour a second question on more Holyrood powers.

He said the referendum could be regulated by the Electoral Commission.

In a statement to MSPs, Mr Salmond described the question as "short, straightforward and clear", saying the people of Scotland would be asked to make the most important decision facing the country in 300 years.

by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jan 25th, 2012 at 03:08:41 PM EST
[ Parent ]
Eurointelligence Daily Briefing: ECB involvement in Greece is on the table
Talks between Athens and its private creditors resume today, with pressure for a deal by the end of the week; Kathemerini says involvement of the ECB is now part of the negotiations, after the IMF has put on the pressure on the ECB; there is still substantial opposition within the ECB about whether to accept, and how to handle, a haircut; the Greek government withdraws a wideranging liberalisation bill after MPs withhold support; the government now promises to present an ,,improved" version; Angela Merkel warns against overburdening Germany in crisis resolution efforts; Portuguese CDS reach record high as financial markets are betting on a default; Bild see Angela Merkel as Europe's Powerfrau; French unemployment rises close to 3m; Francois Hollande's economic advisers said they had dropped Keynes in favour of Schumpeter; the Fed extended its exceptionally low rates promise until end-2014, and sets a 2% inflation target; the Irish debt agency sold three-year debt as part of a bond swap; Colm McCarthy writes that this is not the beginning of a return to the markets; Ireland's fiscal watchdog insists on medium-term budget goals; Jean-Claude Trichet, meanwhile, now creates money for himself.


tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker
by Migeru (migeru at eurotrib dot com) on Thu Jan 26th, 2012 at 04:02:55 AM EST
[ Parent ]
Hollande drops Keynes in favour of Schumpeter

Nicolas Sarkozy's Socialst challenger Francois Hollande will today unveil his economic proposals. According to Le Monde there are several circles of economists who have elaborated Hollande's economic policy proposals. Among the dominating figures are Harvard economist Philippe Aghion, Bruegel director Jean Pisani-Ferry, industrial policy specialist Elie Cohen and social policy expert Gilbert Cette, the paper reports. ,,The Socialists are today engaged in the transformation the Social Democrats in Scandinavia have already gone through several years ago", Les Echos quotes Aghion. ,,The Keynesian model of of relaunching consumption would today aggravate our external deficit. Our thinking is now much closer to Schumpeter who emphasizes the role of innovation for growth in the medium to long term."

What a narrow reading of Keynes. You could also launch an employment stimulus programmes geared towards import substitution...

Obviously France is an electricity exporter. What is France's main import dependence?

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker

by Migeru (migeru at eurotrib dot com) on Thu Jan 26th, 2012 at 04:09:00 AM EST
[ Parent ]
Plus, 80 years later, we still fail to understand "in the long run we're all dead"...

It's far too easy to only aim for the medium to long term -this means that any significant results would be after Hollande is no longer president, and that a whole generation would have been pretty much sacrificed in the meantime.

I am also getting annoyed by the constant talks of "innovation" everywhere (not least in my boss's mouth). Sure, it's central to many technological success stories. But the bulk of economic activity (or of unemployed workers) is not particularly innovative. Are we to let it down the drain?

"Few can believe that suffering, especially by others, is in vain. - Galbraith"

by Cyrille (cyrillev domain yahoo.fr) on Thu Jan 26th, 2012 at 04:34:24 AM EST
[ Parent ]
Another Keynes aphorism we fail to understand is the euthanasia of the rentier.

Schumpeter is famous for his concept of creative destruction. But in the end he's just a kinder, softer Hayek.

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker

by Migeru (migeru at eurotrib dot com) on Thu Jan 26th, 2012 at 05:57:43 AM EST
[ Parent ]
Is he? Never got around to reading his stuff but I doubt Hayek would say something like this:

Joseph Schumpeter - Wikipedia

Joseph Schumpeter: Capitalism, Socialism and Democracy. 1942 (Zitat:,,Can capitalism survive? No. I do not think it can.")., sowie: ,,... capitalist order tends to destroy itself and ... socialism is ... a likely heir", ,,My final conclusion therefore does not differ ... from that of all Marxists." Zitiert bei Alfred Müller: Die Marxsche Konjunkturtheorie - Eine überakkumulationstheorietische Interpretation. PapyRossa Köln, 2009 (Dissertation 1983), S. 338.


Wait this is important. Someone is wrong on the Internet.
by generic on Thu Jan 26th, 2012 at 09:59:07 AM EST
[ Parent ]
How interesting:
Today, Schumpeter has a following outside of standard textbook economics, in areas such as in economic policy, management studies, industrial policy, and the study of innovation. Schumpeter was probably the first scholar to develop theories about entrepreneurship. For instance, the European Union's innovation program, and its main development plan, the Lisbon Strategy, are influenced by Schumpeter. The International Joseph A. Schumpeter Society awards the Schumpeter Prize.

The Schumpeter School of Business and Economics opened in October 2008 at the University of Wuppertal. According to University President Professor Lambert T. Koch, "Schumpeter will not only be the name of the Faculty of Management and Economics, but this is also a research and teaching programme related to Joseph A. Schumpeter."

On 17 September 2009, The Economist inaugurated a column on business and management named "Schumpeter." The publication has a history of naming columns after significant figures or symbols in the covered field, including naming its British affairs column after former editor Walter Bagehot and its European affairs column after Charlemagne. The initial Schumpeter column praised him as a "champion of innovation and entrepreneurship" whose writing showed an understanding of the benefits and dangers of business that proved far ahead of its time.



tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker
by Migeru (migeru at eurotrib dot com) on Thu Jan 26th, 2012 at 10:30:20 AM EST
[ Parent ]
Where Schumpeter lives in Hayek-land is on the matter of recessions/depressions.

For Schumpeter a recession was necessary to "correct" "misallocation of resources" notably labour.

Krugman has gone over the evidence for this in his columns over the last year.

His conclusion is that Schumpeter's theory isn't borne out by the evidence and it's all a bit incoherent.

Players like The Economist love the "creative destruction" and "innovation" soundbites from Schumpeter - but his work doesn't seem to hang together that well in the end.

by Metatone (metatone [a|t] gmail (dot) com) on Thu Jan 26th, 2012 at 10:53:52 AM EST
[ Parent ]
Schumpeter's "creative destruction" is the destruction wrought by depressions, out of whose ashes entrepreneurship will usher in an innovated economic world.

The nihilism of magic ponies.

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker

by Migeru (migeru at eurotrib dot com) on Thu Jan 26th, 2012 at 11:08:21 AM EST
[ Parent ]
perhaps Hollande has understood that French capitalism is desperately short of entrepreneurship. It seems that his emphasis on "innovation" points in that direction : French capitalists have never been interested in that, only in extracting rents.

Perhaps he will offer compulsory remedial classes in entrepreneurship and the sustainable creation of added value?

It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II

by eurogreen on Thu Jan 26th, 2012 at 11:47:58 AM EST
[ Parent ]
You're right about the rent extraction (Spain suffers from the same problem).

On Hollande, I think that's just wishful thinking. Hollande doesn't have his own economic ideas, but he relies on "experts". If Le Monde is right about who his "experts" are and their ideas, especially their advocacy of Schumpeter over Keynes, then we're fucked.

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker

by Migeru (migeru at eurotrib dot com) on Thu Jan 26th, 2012 at 12:03:19 PM EST
[ Parent ]
Any idea what "innovation" is meant to mean?
by Colman (colman at eurotrib.com) on Thu Jan 26th, 2012 at 05:59:03 AM EST
[ Parent ]
Magic technofairy solving the problems the organisation fail to solve?

A vote for PES is a vote for EPP! A vote for EPP is a vote for PES! Support the coalition, vote EPP-PES in 2009!
by A swedish kind of death on Thu Jan 26th, 2012 at 06:00:03 AM EST
[ Parent ]
It's the new magic pixie dust.

There used to be Research and Development. Now there is Research and Development and Innovation.

In Spain we used to have an Economy Minister and a Ministry of Education and Science. Then in 2008 ZP decided to separate a Ministry of Education, Social Policy and Sport and create a ministry of Science and Innovation. Now we have a Finance Minister, an Economy and Innovation Minister, and a ministry of Education, Culture and Sport.

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker

by Migeru (migeru at eurotrib dot com) on Thu Jan 26th, 2012 at 06:07:44 AM EST
[ Parent ]
"Hollande drops Keynes for Schumpeter" means "Hollande sees nothing wrong with a lost generation".

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker
by Migeru (migeru at eurotrib dot com) on Thu Jan 26th, 2012 at 11:37:37 AM EST
[ Parent ]
there is a real alternative on offer, by another candidate...

It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II
by eurogreen on Thu Jan 26th, 2012 at 05:04:49 AM EST
[ Parent ]
funny that she also says that she will reduce the deficit. Perhaps she will be cast out for such sacrilege, from the Halls of All Progressive Economists Must Consider Keynsian Stimulus as the Only Solution.
by rootless2 on Sun Jan 29th, 2012 at 04:36:27 PM EST
[ Parent ]
BMWs.
by afew (afew(a in a circle)eurotrib_dot_com) on Thu Jan 26th, 2012 at 05:31:32 AM EST
[ Parent ]
Then you just need to raise marginal income taxes...

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker
by Migeru (migeru at eurotrib dot com) on Thu Jan 26th, 2012 at 05:58:22 AM EST
[ Parent ]
Well, that is in Hollande's programme.
by afew (afew(a in a circle)eurotrib_dot_com) on Thu Jan 26th, 2012 at 06:13:59 AM EST
[ Parent ]
Or high-end vehicle licensing fees.

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker
by Migeru (migeru at eurotrib dot com) on Thu Jan 26th, 2012 at 06:25:31 AM EST
[ Parent ]
I think this is mostly communications. Say "innovation" and maybe even "reform"; don't admit to Keynesianism whatever you do.

Not that I think any of those mentioned are rabid Keynesians...

by afew (afew(a in a circle)eurotrib_dot_com) on Thu Jan 26th, 2012 at 05:34:57 AM EST
[ Parent ]
As you know I'm not a fan of Bruegel.

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker
by Migeru (migeru at eurotrib dot com) on Thu Jan 26th, 2012 at 06:00:34 AM EST
[ Parent ]
France Imports
France imports were worth 41841 Millions EUR in November of 2011. France is the third-largest trading nation in Western Europe. French principal imports are: machinery and equipment, vehicles, crude oil, plastics and chemicals. Its main import partners are European Union members (Germany, Belgium, Italy, Spain), United States and China.

Browsing around machinery and equipment, vehicles appears to be a reflection of France position in the global chain of airplane manufacture.

So oil would probably be it.

A vote for PES is a vote for EPP! A vote for EPP is a vote for PES! Support the coalition, vote EPP-PES in 2009!

by A swedish kind of death on Thu Jan 26th, 2012 at 05:59:05 AM EST
[ Parent ]
Migeru:
,,The Socialists are today engaged in the transformation the Social Democrats in Scandinavia have already gone through several years ago"

The road to irrelevance is so Serious.

A vote for PES is a vote for EPP! A vote for EPP is a vote for PES! Support the coalition, vote EPP-PES in 2009!

by A swedish kind of death on Thu Jan 26th, 2012 at 06:02:20 AM EST
[ Parent ]
@yanisvaroufakis

The FT has a column on the crisis of capitalism and the Davos folk are talking about it too. Only the Centre Left thinks C-ism is 'natural'.
by Colman (colman at eurotrib.com) on Thu Jan 26th, 2012 at 06:05:01 AM EST
[ Parent ]
The Economist has a rather worried note about the cooperative model of a firm.
by rootless2 on Sun Jan 29th, 2012 at 04:37:33 PM EST
[ Parent ]
Parliamentary correspondent of the BBC.
The bill may be amended to set the terms for any independence referendum, and a posse of pro-union peers, including Lord Forsyth, the former Conservative Scottish Secretary, Lord Foulkes, the former Labour MP, and the Conservative hereditary peer and former minister Lord Caithness have been very busy drafting helpful changes. But these two from Lord Caithness piqued my interest:
[...]

"(2D) A vote in a referendum held under subsection (2B) of this section which results in Scotland leaving the United Kingdom shall not be binding on the residents of the Orkney Islands or the Shetland Islands unless a majority of the residents of the Orkney Islands and the Shetland Islands who voted in such a referendum voted that Scotland should leave the United Kingdom."

The national status of the Orkney Islands, the Shetland Islands (and indeed Caithness) are issues the Earl knows a thing or two about. His family, the Sinclairs, controlled them for hundreds of years - and for much of that time they owed allegiance not to the crown of Scotland, but to that of Norway.

Shouldn't they then go back to Norway?
by gk (g k quattro due due sette "at" gmail.com) on Thu Jan 26th, 2012 at 06:32:54 AM EST
[ Parent ]
France TV info: Daniel Cohn-Bendit : "La campagne d'Eva Joly patine"
L'eurodéputé et coprésident du groupe Les Verts au Parlement européen estime que l'électorat écologiste fait le choix du vote utile en se tournant vers le socialiste François Hollande.
Daniel Cohn-Bendit: "Eva Joly's campaign slips"
The MEP and cochairman of the Green group in the European Parliament thinks that the environmentalist electorate choose the "useful vote" turning towards the Socialist François Hollande.
(with video)

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker
by Migeru (migeru at eurotrib dot com) on Thu Jan 26th, 2012 at 09:48:13 AM EST
[ Parent ]
Reuters: As euro crisis fears ease, focus turns to growth
Part of the growth problem is that Germany insists other euro zone states must pursue the kind of structural reforms that helped it regain competitiveness in the last decade, even if these risk sending weaker economies into a deflationary spiral.

"To overcome the crisis, there is no way around strict consolidation and structural reforms in the member states," Bundesbank President Jens Weidmann said late on Tuesday.

...

Financial market participants say they are more concerned about the absence of growth in the euro zone than about budget deficits and public debt levels now, because growth is what will enable countries to service and repay their debts over time. "It looks like the LTRO is having a positive contribution. Does it solve all of the problems sustainably? Probably not," said Andrew Bosomworth, a senior portfolio manager at Pimco.

"At the end of the day, it comes down to growth -- that's what these countries need to keep their debt sustainable."



tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker
by Migeru (migeru at eurotrib dot com) on Thu Jan 26th, 2012 at 11:00:05 AM EST
[ Parent ]
Of course, the "financial market participants" are no-one defined, so they cannot be said to be acting consciously.

Still, it would have helped if people like Bosomworth had mentioned growth last year instead of allowing austerity to dominate the discussion...

by Metatone (metatone [a|t] gmail (dot) com) on Thu Jan 26th, 2012 at 11:08:10 AM EST
[ Parent ]
You cannot accuse Pimco of pushing austerity, I don't think.

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker
by Migeru (migeru at eurotrib dot com) on Thu Jan 26th, 2012 at 11:09:22 AM EST
[ Parent ]
Pimco have been very inconsistent, like many analysts and ratings agencies...

Here's one example, it gets worse the further back you go...

http://articles.businessinsider.com/2011-06-13/markets/30099802_1_uk-government-spending-economic-gr owth

Bill Gross has been particularly weird, swinging from suggesting the USA had a debt problem and was going to "collapse like Greece" a year ago or so to now signing up for Keynes...

The inconsistency has been fatal because they've always provided right-wing politicians with just enough cover to continue with austerity.

by Metatone (metatone [a|t] gmail (dot) com) on Thu Jan 26th, 2012 at 11:25:02 AM EST
[ Parent ]
Metatone:
Pimco have been very inconsistent, like many analysts and ratings agencies...

Making money of volatile prices?

A vote for PES is a vote for EPP! A vote for EPP is a vote for PES! Support the coalition, vote EPP-PES in 2009!

by A swedish kind of death on Thu Jan 26th, 2012 at 11:52:09 AM EST
[ Parent ]
by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jan 25th, 2012 at 12:18:03 PM EST
Finance ministers break impasse on derivatives regulation | EurActiv

EU countries broke a deadlock in talks to crack down on the derivatives market, as France and Britain resolved a turf war over how much say a pan-European watchdog can have over national markets, diplomatic sources said.

The breakthrough which came at the meeting of EU finance ministers yesterday (24 January) means member states can move ahead to negotiate with the European Parliament on a final joint text as early as next week in a bid to comply with a globally agreed December deadline for the new rules.

EU regulators have tried to forge rules to drive derivatives on to exchanges since September 2010, but talks have been hampered by a British and French impasse over which regulator has ultimate say - the European Securities and Markets Authority (ESMA) or the national authority.

Finance ministers agreed that the EU's 27 national regulators can overturn the decision to allow a clearing house to operate in a national market by a two-thirds majority.

by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jan 25th, 2012 at 12:59:34 PM EST
[ Parent ]
In historic shift, Fed sets inflation target | Reuters

(Reuters) - The Federal Reserve took the historic step on Wednesday of setting an inflation target, of 2 percent, a victory for Chairman Ben Bernanke that brings the Fed in line with many of the world's other major central banks.

The U.S. central bank, in its first ever "longer-run goals and policy strategy" statement, said it was not appropriate to adopt a fixed goal for employment, however, because the labor market is not largely determined by monetary factors.

The Fed said the 2 percent target - measured by the annual change in the price index for personal consumption expenditures - is the most consistent over the long run with its mandate.

"Communicating this inflation goal clearly to the public helps keep longer-term inflation expectations firmly anchored, thereby fostering price stability and moderate long-term interest rates and enhancing the committee's ability to promote maximum employment in the face of significant economic disturbances," the Fed said.

by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jan 25th, 2012 at 02:53:28 PM EST
[ Parent ]
Insight: Today it pays to owe money, while savers suffer | Reuters

"It's an uncomfortable feeling to realize that everything is going up except your income," said the 74-year-old from Galloway, New Jersey.

Rising home and car insurance costs have forced her to dip into savings which have been earning less than 1.0 percent.

That isn't likely to change for some years.

The Federal Reserve said on Wednesday that it is likely to keep its key interest rate near zero until late 2014. That would make more than five years of rock-bottom rates.

For Smith and other pensioners struggling to cope with inflation higher than the rate of interest they earn on their savings, all of this amounts to, as she puts it, "being punished" for being prudent.

She is a casualty of the Fed's strategy to keep rates low in an attempt to generate the economic growth needed to lower the nation's jobless rate. Low borrowing costs also prevent the U.S. federal government's debt burden from getting even further out of control.

The same could be said for the policies of central banks in other developed nations, including the European Union.

by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jan 25th, 2012 at 02:55:08 PM EST
[ Parent ]
Japan's first trade deficit since 1980 raises debt doubts | Reuters

(Reuters) - Japan's first annual trade deficit in more than 30 years calls into question how much longer the country can rely on exports to help finance a huge public debt without having to turn to fickle foreign investors.

The aftermath of the March earthquake raised fuel import costs while slowing global growth and the yen's strength hit exports, data released on Wednesday showed, swinging the 2011 trade balance into deficit.

Few analysts expect Japan to immediately run a deficit in the current account, which includes trade and returns on the country's huge portfolio of investments abroad. A steady inflow of profits and capital gains from overseas still outweighs the trade deficit.

by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jan 25th, 2012 at 03:38:03 PM EST
[ Parent ]
Quatre économistes donnent un satisfecit au projet de budget d'Eva Joly - LeMonde.fr Four economists give a good report to the draft budget of Eva Joly - LeMonde.fr
Ras le bol d'être assimilés sans cesse à la seule défense des pâquerettes et du monde animal. Les écologistes ont beaucoup travaillé, et ce depuis des années, sur les questions économiques : croissance, chômage, économies d'énergie bien sûr, mais aussi diminution de la dette et redressement de la balance commerciale. Un travail effectué en pure perte pour le moment, puisque, dans l'opinion, si l'idée de transaction énergétique n'a cessé de marquer des points, celle d'une véritable économie verte fondée sur une croissance positive et des créations d'emplois ne convainc guère.Fed up of being stereotyped as defenders of daisies and the animal world. Conservationists have worked hard, for years, on economic issues: growth, unemployment, energy savings, of course, but also debt reduction and improvement in the trade balance. Work done for nothing at the moment, since, in public opinion, if the idea of ​​energy trading has continued to mark points, that of a true green economy based on positive growth and creative job is unconvincing.
Conscients d'être dans une campagne électorale dominée par la réponse à apporter à la crise, les écologistes, évidemment soucieux de ne pas se laisser marginaliser, ont souhaité montrer que leurs propositions tenaient la route. Comme l'explique le député européen Pascal Canfin, l'expert économique d'Eva Joly, qui a travaillé sur le "budget vert", l'idée est de montrer que "les politiques écologiques sont meilleures pour l'économie et meilleures pour la planète". .AdvertMiddle, #AdvertMiddle, #Ads_Middle {margin-bottom: 20px;} * Banni�re .AdvertMiddle, .banner728, .pub-top1 {background-color: transparent;} --> RedirectionAware of being in an election campaign dominated by the response to make to the crisis, environmentalists, obviously anxious not to let themselves be marginalized, wanted to show that their proposals stood up to scrutiny. As explained by the MEP Pascal Canfin, the economic expert of Eva Joly, who worked on the "Green Budget" , the idea is to show that "green policies are better for the economy and better for the planet ". . AdvertMiddle, AdvertMiddle #, # Ads_Middle {margin-bottom: 20px;} /Banniï ¿½ re * /. AdvertMiddle,. banner728,. pub-top1 {background-color: transparent;} -> Redirection
Ils ont donc soumis le projet de budget présenté à la presse par Eva Joly le 4 octobre 2011 à quatre économistes qui ont utilisé un modèle macro-économique de l'OFCE, sans lien avec Europe Ecologie-Les Verts (EELV),  pour mission de mesurer l'impact d'un tel budget.So they submitted the draft budget presented to the press by Eva Joly October 4, 2011 to four economists who used a macroeconomic model of the OFCE, unconnected to Europe Ecology-Greens (EELV) ; mission : to measure the impact of such a budget.
Les résultats de l'étude sont assez concluants. Les mesures budgétaires proposées par Eva Joly (réorientation de la fiscalité vers la fiscalité environnementale, avec l'instauration d'une contribution climat-énergie, augmentation des dépenses d'investissements publics, notamment dans les filières vertes et la construction de logements neufs, relèvement des prélèvements obligatoires sur les hauts salaires et les revenus du capital) constitueraient, selon les quatre économistes auteurs de l'étude, un modèle efficace pour sortir de la crise.The study results are quite conclusive. Budget Measures proposed by Eva Joly (shift of taxation to environmental taxation, with the establishment of a climate-energy, increased public investment expenditure, especially in the green domains and new housing construction, raising charges on high wages and capital income) would, according to the four economists who authored the study, an effective model for overcoming the crisis.
BON POiNT
Good point
Comparé au budget de référence, qui est celui adopté par le projet de loi de finances de septembre 2011, et en considérant que les budgets suivants seraient identiques, l'instauration d'un "budget vert" permettrait la création de 400 000 emplois supplémentaires à l'horizon 2015. Ces créations d'emplois supplémentaires permettraient une baisse du taux de chômage à 8,3 % en 2015.Compared to the baseline budget, which is that adopted by the draft budget law in September 2011, and considering that future budgets would be the same, creating a "Green Budget" would create 400,000 jobs further in 2015. These additional jobs would lower the unemployment rate to 8.3% in 2015.
Par ailleurs, l'augmentation progressive de la fiscalité écologique couplée au plan d'économies d'énergies permettrait une baisse des émissions des gaz à effet de serre. La baisse des émissions de CO2 serait de 32 % d'ici à 2020, ce qui permettrait d'atteindre les objectifs préconisés par le Groupe d'experts intergouvernemental sur l'évolution du climat (GIEC).Moreover, the gradual increase in environmental taxation coupled with the energy savings plan would lower emissions of greenhouse gas emissions. The decrease in CO2 emissions would be 32% by 2020, allowing for achieve the goals recommended by the Intergovernmental Panel on the Climate Change (IPCC).
EMPLOIS VERTSGREEN JOBS
Un bon point également pour les écologistes en ce qui concerne la diminution de la dette, si l'on en croit les auteurs de l'étude, puisque les choix budgétaires d'Eva Joly permettent de ramener le déficit public sous les 3 % en 2014. Enfin, contrairement aux idées reçues, selon lesquelles les écologistes seraient tous des adeptes de la décroissance, le modèle soumis à l'audit des chercheurs aurait un effet positif sur la croissance.A good mark also for environmentalists regarding the reduction of debt, if we are to believe the authors of the study, since the budgetary choices of Eva Joly can bring public deficit below 3% in 2014. Finally, contrary to popular belief, in which environmentalists are all followers of negative growth, the model audited by the researchers has a positive effect on growth.
Le mécanisme est simple : les créations d'emplois et les investissements verts créent un effet d'entrainement favorable à l'activité économique. Dès la première année d'instauration d'un "budget vert", les mesures préconisées auraient un impact positif de 0,9 point de produit intérieur brut (PIB) et de 1,8 point de PIB sur deux ans.The mechanism is simple: job creation and green investments create a ripple effect in favor of economic activity. In the first year of establishing a "green budget", the measures proposed would have a positive impact of 0.9 percentage points of gross domestic product (GDP) and 1.8 percentage points of GDP over two years.
C'est la première fois qu'un parti politique, et qu'une candidate à l'élection présidentielle soumettent leurs hypothèses de travail à un audit effectué par des chercheurs indépendants. Les résultats obtenus devraient susciter débats et réflexions.This is the first time a political party and a candidate for president submit their assumptions in an audit conducted by independent researchers. The results should encourage debate and reflection.


It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II
by eurogreen on Wed Jan 25th, 2012 at 04:52:48 PM EST
[ Parent ]
MADRID - Mexican state oil monopoly Petroleos Mexicanos and Repsol-YPF agreed Wednesday to negotiate an alliance that would require the former's stake in the Spanish oil major to fall within a range of between 5 percent and 10 percent, the companies said.

MercoPress: Brazil posted a record-high current account deficit in 2011 on rising profit remittances by multinational companies and massive spending abroad by Brazilian tourists, but the deficit was more than covered by another record, this time for foreign direct investment, the central bank said Tuesday.

Bloomberg: Ecuador received a loan commitment from China last month for at least $1 billion, helping finance a budget deficit that's projected to reach $4.23 billion this year, central bank President Pedro Delgado said.

MercoPress: Germany's BMW Ag., the world's largest luxury carmaker plans to build cars in the Brazilian state of Santa Catarina from 2014 reports Automobilewoche.


"Beware of the man who does not talk, and the dog that does not bark." Cheyenne
by maracatu on Wed Jan 25th, 2012 at 09:58:48 PM EST
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How Slavery Led to Modern Capitalism: Echoes- Bloomberg

When the New York City banker James Brown tallied his wealth in 1842, he had to look far below Wall Street to trace its origins. His investments in the American South exceeded $1.5 million, a quarter of which was directly bound up in the ownership of slave plantations.

Brown was among the world's most powerful dealers in raw cotton, and his family's firm, Brown Brothers & Co., served as one of the most important sources of capital and foreign exchange to the U.S. economy. Still, no small amount of his time was devoted to managing slaves from the study of his Leonard Street brownstone in Lower Manhattan.

Brown was hardly unusual among the capitalists of the North. Nicholas Biddle's United States Bank of Philadelphia funded banks in Mississippi to promote the expansion of plantation lands. Biddle recognized that slave-grown cotton was the only thing made in the U.S. that had the capacity to bring gold and silver into the vaults of the nation's banks. Likewise, the architects of New England's industrial revolution watched the price of cotton with rapt attention, for their textile mills would have been silent without the labor of slaves on distant plantations.



A vote for PES is a vote for EPP! A vote for EPP is a vote for PES! Support the coalition, vote EPP-PES in 2009!
by A swedish kind of death on Thu Jan 26th, 2012 at 06:34:29 AM EST
[ Parent ]
by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jan 25th, 2012 at 12:18:19 PM EST
New floods hit northeastern Australia

Flooding in northeastern Australia caused thousands of homes to lose power Tuesday and prompted authorities to start evacuations, around a year after deadly floods devastated the region.

Up to a dozen homes were evacuated on Brisbane's northern outskirts as Australia's third-largest city was hit by heavy rain, reports said, and authorities urged more people to leave their homes.

Almost 10,000 homes were blacked out and rising waters forced the closure of roads in Brisbane, which ground to a halt for several days in early 2011 due to flooding.

by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jan 25th, 2012 at 02:41:59 PM EST
[ Parent ]
Oh yeah...We are again experiencing rain, rain and heavy rain for days now. And we did not stop to get sick again and again all last year. I am sick as hell right now...Makes you think about moving somewhere else...if only we could...
by vbo on Wed Jan 25th, 2012 at 08:24:05 PM EST
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Sorry you're sick as well as wet.

These abnormal periods are a reflection of La Nina in conjunction with other meteorological phenomena, possibly enhanced by climate change. pacific moisture is being diverted to Asia, while large parts of NE Mexico and SW US are in drought. Large portions of NE Mexico have seen ZERO rainfall for 15 months, and food and water are being shipped in by the government.

No link, i read this on my professional meteo app last night.

"Life shrinks or expands in proportion to one's courage." - Anaïs Nin

by Crazy Horse on Thu Jan 26th, 2012 at 06:18:05 AM EST
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Egyptians mass in Tahrir to honour uprising - Middle East - Al Jazeera English

Hundreds of thousands of people have gathered in Cairo's Tahrir Square to commemorate the first anniversary of the Egyptian revolution that toppled their long-time ruler, Hosni Mubarak.

It is a year since Egyptians, inspired by an uprising in Tunisia, took to the streets to call for reform and to demand the resignation of Mubarak, Egypt's president for 30 years.

"Down with military rule" and "Revolution until victory, revolution in all of Egypt's streets" were chanted by one group of mainly youths in an area of Tahrir on Wednesday.

Sherine Tadros, reporting from Tahrir Square, said: "For a section of people demonstrating here, it's really just about military hijacking the revolution, and about Islamist parties and movements now making the gains instead of those who actually initiated the revolution."

"But others say it is a rocky transition but it is still a transition pointing out to the fact that Egypt had first free and fair elections in decades and people's assembly which reflects will of the people."

by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jan 25th, 2012 at 02:43:16 PM EST
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US raid frees Western hostages in Somalia - Africa - Al Jazeera English

The White House has confirmed that United States Special Forces carried out a nighttime raid in northern Somalia and freed two hostages while killing a reported nine pirates.

A statement released on Wednesday from US President Barack Obama read, "Thanks to the extraordinary courage and capabilities of our Special Operations Forces, yesterday Jessica Buchanan was rescued and she is on her way home."

The statement continued: "The United States will not tolerate the abduction of our people, and will spare no effort to secure the safety of our citizens and to bring their captors to justice."

The two aid workers, US citizen Jessica Buchanan, 32, and Dane Poul Hagan Thisted, 60, had been working for the Danish Demining Group. They were abducted in Galkayo in the semi-autonomous Galmudug region in October.

Mohamed Ahmed Alim, president of Galmudug, told the Reuters news agency that nine pirates were killed and five captured during the operation near the pirate haven of Haradheere.

by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jan 25th, 2012 at 02:44:04 PM EST
[ Parent ]
Syrian Red Crescent official shot dead | World news | The Guardian

The head of the Syrian Arab Red Crescent in the northern town of Idlib was shot dead on Wednesday, according to the International Committee of the Red Cross (ICRC).

"We just learned a few minutes ago of the death of Mr Abdulrazak Jbero, head of the Syrian Arab Red Crescent branch in Idlib. Mr Jbero was on his way by car from Damascus to Idlib. He was shot. Circumstances are still unclear," Beatrice Megevand-Roggo, the head of ICRC operations for the Middle East, told Reuters.

by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jan 25th, 2012 at 03:28:44 PM EST
[ Parent ]
Arab League in talks with ElBaradei over Syria job | Reuters

(Reuters) - The Arab League has approached Mohamed ElBaradei, the former head of the U.N. nuclear agency, as a possible candidate for the job of special envoy to Syria to follow up an Arab initiative to ease President Bashar al-Assad out of power.

"The Arab League chief Nabil Elaraby has made a number of contacts with prominent Arab figures... and among these figures is Dr. ElBaradei," Egypt's state MENA news agency quoted Ahmed Ben Helli, a senior official of the 22-member body, as saying.

by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jan 25th, 2012 at 03:39:41 PM EST
[ Parent ]
Colombia:
Colombia Reports: Colombia insisted Tuesday it would expand the use of military tribunals despite warnings from Human Rights Watch (HRW) that the proposed reform "threatens to facilitate impunity for military abuses."  Colombia's Justice Minister Juan Carlos Esguerra said in a press release that the government will maintain the proposal and that the government will not change legislative procedures "to accomodate" HRW.
Colombia Reports: Colombia's neo-paramilitary groups continue to enjoy the protection of elements of the state, the director of a leading think tank said Tuesday.  In an interview with Colombia Reports, Leon Valencia, director of Corporacion Nuevo Arco Iris, which monitors Colombia's illegal armed groups, said "it is impossible to exhibit such a degree of illegal activity without the protection of the security forces and without ties to politicians. The day the state as a whole is directed to pursue all of these people is the only time it can be over," he added.

Tim's El Salvador Blog: Violence and intimidation continue in El Salvador against environmental activists and defenders of human rights who have publically opposed metallic mining. The latest round of threats was focused against a Salvadoran Catholic priest, Father Neftalí Ruiz, and a community radio station, Radio Victoria.

MONTEVIDEO, Uruguay (AP) -- Uruguay's president has approved a $513,000 payment to Macarena Gelman, who was illegally adopted during the dictatorship after her mother was tortured and disappeared.  The payment complies with an Inter-American Court of Human Rights ruling that accuses Uruguay of delaying justice for crimes committed by its dictatorship in the 1970s, according to a brief statement posted Tuesday on the presidency's website.

Aguachile: How many children does Peña Nieto really have?  According to him, six - with various women, to be sure.

Central American Politics: The Miami Herald has a new editorial, Central America's free-fire zone, calling for stronger action against Honduras in light of escalating violence and corruption. (...) In my opinion, the editorial is poorly framed. First, why all this talk about civil wars, armies returning to their barracks, and insurgents laying down their arms when, in the case of Honduras, it didn't experience a civil war, the army returned to its barracks but never relinquished power, and few insurgents ever posed a threat to the survival of the regime.

UNPO: Argentina's push for energy threatens the life and culture of Mapuche communities, says member of Neuquen Mapuche Confederation.


"Beware of the man who does not talk, and the dog that does not bark." Cheyenne
by maracatu on Wed Jan 25th, 2012 at 09:44:29 PM EST
[ Parent ]
Castro lambasts US Republican primary as idiotic
"The selection of a Republican candidate for the presidency of this globalized and expansive empire is -- and I mean this seriously -- the greatest competition of idiocy and ignorance that has ever been,"
by Fran (fran at eurotrib dot com) on Thu Jan 26th, 2012 at 01:33:01 AM EST
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Vote Newt and screw Castro

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Thu Jan 26th, 2012 at 03:04:56 AM EST
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Brazilian bank robber doing just that:

by gk (g k quattro due due sette "at" gmail.com) on Thu Jan 26th, 2012 at 08:04:32 AM EST
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Who is Sheldon Adelson and What Has Newt Promised Him? | Robert Reich's blog
And, who knows? The Adelsons are billionaires. They might decide to put in another $5 million or perhaps $20 million into Gingrich's Super Pac. The point is, there's no limit.

Do you know who Sheldon and Marian Adelson are? Do you know what Gingrich has promised them, or what they think they'll get out of a Grinch presidency? I don't. But if Newt becomes President of the United States, they'll be singularly responsible. And we better find out, because Newt will owe them big time.

For a hint, see here. But I bet Reich knows this....
by gk (g k quattro due due sette "at" gmail.com) on Thu Jan 26th, 2012 at 10:27:54 AM EST
[ Parent ]
Interesting that Spiegel also had an article on him and Gingrich today.

HERE

"Life shrinks or expands in proportion to one's courage." - Anaïs Nin

by Crazy Horse on Thu Jan 26th, 2012 at 01:25:30 PM EST
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But even Spiegel just talks about his pro-Israel politics, not about how extreme he his. It's presumably due to him that Gingrich went from (in 2005)
The Palestinians entered their war with Israel as a relatively wealthy, educated, and cosmopolitan people. They were in some ways among the most international and most advanced people in the Arab world. The long conflict has destroyed their hopes for a better future, left them without a viable economy, and for too long, left them without responsible leadership.
to his "invented people".
by gk (g k quattro due due sette "at" gmail.com) on Fri Jan 27th, 2012 at 03:26:51 AM EST
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Yeah, who is Sheldon Adelson?

ElPais.com in English: Madrid head mulls tax haven for casino deal (23/01/2012)

Sheldon's EuroVegas project, of 12 resorts with 36,000 rooms, six casinos, nine theaters and three golf courses would entail an investment of up to 18.8 billion euros through to 2022 and the creation of 261,000 jobs. But Sheldon in turn wants the land for the complex free, a very generous tax holiday and for the smoking ban in Spain to be waived at the development.


tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker
by Migeru (migeru at eurotrib dot com) on Thu Jan 26th, 2012 at 02:15:55 PM EST
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Apparently at least two or three municipalities in the Madrid periphery, as well as one in Barcelona, are vying for this project.

I wonder whether EuroVegas will end up like EuroDisney: in France and catering to American tourists for whom Europe = Paris and who want an American vacation in Europe, rather than in Spain and catering to Central Europeans.

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker

by Migeru (migeru at eurotrib dot com) on Thu Jan 26th, 2012 at 02:23:13 PM EST
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So many times I hear foreigners saying that they are going to Paris, I ask what they are going to do and it's pretty much EuroDisney, and that's it.

I find it so depressing.

On occasion, I mention that I've never been. They tend to look at me with golf balls and ask "WHY?". To which I ask why I should go.

"Few can believe that suffering, especially by others, is in vain. - Galbraith"

by Cyrille (cyrillev domain yahoo.fr) on Thu Jan 26th, 2012 at 03:10:30 PM EST
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Ssh! If he hears of it, Sarko still has time to clinch the deal before the elections.
by afew (afew(a in a circle)eurotrib_dot_com) on Thu Jan 26th, 2012 at 03:21:00 PM EST
[ Parent ]
by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jan 25th, 2012 at 12:18:45 PM EST
Disgruntled GMO firms start pulling out of EU market | EurActiv

Monsanto has announced it will scrap plans to sell an insect-resistant maize in France, the second move in a week by biotech company to retreat from the genetically modified foods market in Europe.

Monsanto's announcement on Tuesday (24 January) came a week after Germany's BASF said it would suspend the development of GM crops in Europe and move its plant science arm to the United States.

BASF's move is a particular blow for Europe, said Carel du Marchie Sarvaas, director of agricultural biotechnology at EuropaBio.

"The BASF decision is not good for Europe because I think it is the reaction of a quintessentially European company to what is a stifling political and regulatory environment," said du Marchie Sarvaas, whose Brussels organisation represents agricultural technology companies.

"Research, jobs, money will go to where it is welcomed. In this case it will be somewhere else. It's a bad day for Europe."

Monsanto said it would not resume sales of MON810, a maize genetically modified to improve pest resistance, despite a French court ruling in November that overturned a 2008 government ban on the sale of MON810.

"Monsanto considers that favourable conditions for the sale of the MON810 in France in 2012 and beyond are not in place," the St. Louis, Missouri-based company said in a statement.

by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jan 25th, 2012 at 12:54:04 PM EST
[ Parent ]
hooray !!! Don't let the door hit your ass on the way

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Thu Jan 26th, 2012 at 03:05:43 AM EST
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Interesting that we are immediately treated to the doom comments of a bio-tech industry lobby hack.
by afew (afew(a in a circle)eurotrib_dot_com) on Thu Jan 26th, 2012 at 05:40:48 AM EST
[ Parent ]
Why does agriculture keep getting a climate pass? | Grist

While the topic of climate change in this country often feels like the truth that dare not speak its name, there is no escaping what Grist's own David Roberts refers to as its "brutal logic." The planet will warm no matter how international climate negotiations -- the latest round having just occurred in Durban, South Africa -- play out.

It's because of that inevitable warming that Britain's chief scientist, John Beddington, along with an international group of scientists, have taken to the pages of Science magazine this month to ask climate negotiators to stop ignoring agriculture.

Agriculture has been hovering just on the margins of climate change policy. Of course, that's no coincidence. Precise measurement of the climate impact of many industrial farming practices remains difficult and controversial, and the U.S. in particular has resisted any attempts to formalize the agricultural sector's obligation to climate mitigation.

The reasons for this are twofold: Big and Ag. After all, it was American agribusiness that exacted virtual exemption from the Obama administration's failed attempt at a climate bill as a price for its potential support. The EPA continues to develop its carbon emissions tracking plan, but the agricultural sector has managed to keep itself out of that, too.

by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jan 25th, 2012 at 02:33:33 PM EST
[ Parent ]
Energy Race to 2035: Renewables, Efficiency, Domestic Oil and Gas Win
WASHINGTON, DC, January 24, 2012 (ENS) - Increased oil, natural gas and renewable energy production within the United States and energy efficiency will lower U.S. reliance on coal and imported energy sources through 2035, finds the latest forecast by the U.S. Energy Information Administration, EIA, the statistical and analytical agency within the Department of Energy.

Energy-related emissions of the greenhouse gas carbon dioxide are projected to remain below their 2005 level through 2035.

The EIA Monday released its Annual Energy Outlook 2012 Reference case, which reflects only the effects of energy policies that have been implemented in law or final regulations.

EIA Acting Administrator Howard Gruenspecht said, "Our updated Reference case projections show natural gas and renewables gaining an increasing share of U.S. electric power generation, domestic crude oil and natural gas production growing, reliance on imported oil decreasing, U.S. natural gas production exceeding consumption, and energy-related carbon dioxide emissions remaining below their 2005 level through 2035."

by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jan 25th, 2012 at 03:19:35 PM EST
[ Parent ]
Early review version of EIA Outlook here (pdf).
by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jan 25th, 2012 at 03:24:59 PM EST
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George Monbiot advocates a maximum income: The Great Pay Robbery (January 23, 2012)
The successful bank robber no longer covers his face and leaps over the counter with a sawn-off shotgun. He arrives in a chauffeur-driven car, glides into the lift then saunters into an office at the top of the building. No one stops him. No one, even when the scale of the heist is revealed, issues a warrant for his arrest. The modern robber obtains prior approval from the institution he is fleecing.

...

As the writer Dan Pink has shown, high pay actually reduces performance(7). Material rewards incentivise simple mechanistic jobs, such as working on an assembly line. But they lead to the poorer execution of tasks which require problem solving and cognitive skills. As studies for the US Federal Reserve and other such bolsheviks show(8), cash incentives narrow people's focus and restrict the range of their thinking. By contrast, intrinsic motivators -- such as a sense of autonomy, of enhancing your skills and pursuing a higher purpose -- tend to improve performance.

...

Let's say £500,000 a year, a figure that includes bonuses, share options, pensions and benefits. It will rise with inflation, but no faster than that. If you want to make more, you can invest in a risky venture of your own or someone else's. If you want to make more money as a salaried worker - in other words while other people carry the risks - you can go abroad, and good riddance to you. Another country, incautious enough to set no cap, can deal with the consequences of your destructive greed.



tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker
by Migeru (migeru at eurotrib dot com) on Thu Jan 26th, 2012 at 08:56:00 AM EST
[ Parent ]
by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jan 25th, 2012 at 12:19:04 PM EST
EUobserver.com / News In Brief / Reding proposes 'right to be forgotten' law
EU justice commissioner Viviane Reding is expected to table a draft bill on Wednesday giving individuals the right to ask for data about them to be deleted from the Internet unless there are "legitimate" grounds not to. The new law as part of an overhaul of the Data Protection Directive.
by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jan 25th, 2012 at 01:02:42 PM EST
[ Parent ]
What does "deleted from the Internet" mean? What does "the Internet" mean, even?

I think the latter is commonly understood to be any network that uses the regular ICANN address registration system, but that doesn't mean that the systems all have to be connected together. So if I have a single stand-alone network of my own, and choose to use addresses obtained from ICANN, then I am officially part of the Internet, so if somebody wants me to delete their private information from my systems, they would have the right to demand this.

by asdf on Wed Jan 25th, 2012 at 05:18:13 PM EST
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"An internet" is any network using IP.

"The Internet" is the big public internet.

So you connect your internet to the Internet.

This has nothing to do with what the legal meanings will be, since they'll be drafted by people who either don't understand or understand perfectly and are maneuvering for advantage.

by Colman (colman at eurotrib.com) on Wed Jan 25th, 2012 at 05:25:05 PM EST
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No, I don't think that's right. If you take the current global Internet and cut it in half, which half is the Internet? It's not the physical connectivity that makes it the Internet.

The thing that makes something the Internet, as opposed to a network using some random set of IP addresses, is that you have your IP addresses assigned to you by the Internet authority. You don't have to be connected to the big global network to be part of the Internet.

by asdf on Wed Jan 25th, 2012 at 09:27:44 PM EST
[ Parent ]
Waiting for Death Valley's Big Bang

In California's Death Valley, death is looking just a bit closer. Geologists have determined that the half-mile-wide Ubehebe Crater, formed by a prehistoric volcanic explosion, was created far more recently than previously thought-and that conditions for a sequel may exist today.

Up to now, geologists were vague on the age of the 600-foot deep crater, which formed when a rising plume of magma hit a pocket of underground water, creating an explosion. The most common estimate was about 6,000 years, based partly on Native American artifacts found under debris.

Now, a team based at Columbia University's Lamont-Doherty Earth Observatory has used isotopes in rocks blown out of the crater to show that it formed just 800 years ago, around the year 1200.

That geologic youth means it probably still has some vigor; moreover, the scientists think there is still enough groundwater and magma around for another eventual reaction. The study appears in the current issue of the journal Geophysical Research Letters.

by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jan 25th, 2012 at 02:35:17 PM EST
[ Parent ]
I wonder if this relates to the key changes in SW US native culture during the same period. Whole villages disappear. (Well, not the buildings.)

"Life shrinks or expands in proportion to one's courage." - Anaïs Nin
by Crazy Horse on Thu Jan 26th, 2012 at 06:20:51 AM EST
[ Parent ]
The price of your soul: How the brain decides whether to 'sell out'

An Emory University neuro-imaging study shows that personal values that people refuse to disavow, even when offered cash to do so, are processed differently in the brain than those values that are willingly sold.

"Our experiment found that the realm of the sacred - whether it's a strong religious belief, a national identity or a code of ethics - is a distinct cognitive process," says Gregory Berns, director of the Center for Neuropolicy at Emory University and lead author of the study. The results were published in Philosophical Transactions of the Royal Society.

Sacred values prompt greater activation of an area of the brain associated with rules-based, right-or-wrong thought processes, the study showed, as opposed to the regions linked to processing of costs-versus-benefits.

Berns headed a team that included economists and information scientists from Emory University, a psychologist from the New School for Social Research and anthropologists from the Institute Jean Nicod in Paris, France.

by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jan 25th, 2012 at 02:39:01 PM EST
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MALAWI: Street Vendors Lose Customers after Stripping Women Naked - IPS ipsnews.net
LILONGWE, Jan 25, 2012 (IPS) - A campaign to stop people buying merchandise from street vendors is gaining momentum in Malawi's main cities of Lilongwe, Blantyre and Mzuzu after the small-scale traders went on a rampage undressing women and girls wearing trousers, leggings, shorts and mini-skirts.

Street vendors occupy the pavements and street corners in the busiest parts of the country's major cities and towns. Here they sell everything from clothing to electronic items to food and groceries. But when the vendors in Lilongwe began rioting last week in protest against their forced removal by the local city council, things took a turn for the worse as vendors began stripping women and physically assaulting them.

Dubbed "lero nkugule, mawa undivule," which is vernacular Chichewa and translates into "today I buy from you, tomorrow you undress me", the campaign was initiated on Jan. 18, the day after the assaults. Women activists want to use the campaign to teach the vendors a lesson on respecting women, according to Seodi White, executive director of the influential women rights organisation, Women in Law in Southern Africa-Malawi.
by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jan 25th, 2012 at 02:47:37 PM EST
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Not exactly the most obvious path to building customer loyalty.

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Thu Jan 26th, 2012 at 03:12:53 AM EST
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New study sheds light on evolutionary origin of oxygen-based cellular respiration

Researchers at the RIKEN SPring-8 Center in Harima, Japan have clarified the crystal structure of quinol dependent nitric oxide reductase (qNOR), a bacterial enzyme that offers clues on the origins of our earliest oxygen-breathing ancestors.

In addition to their importance to fundamental science, the findings provide key insights into the production of nitrogen oxide, an ozone-depleting and greenhouse gas hundreds of times more potent than carbon dioxide.

As the central process by which cells capture and store the chemical energy they need to survive, cellular respiration is essential to all life on this planet.

While most of us are familiar with one form of respiration, whereby oxygen is used to transform nutrients into molecules of adenosine triphosphate (ATP) for use as energy ("aerobic respiration"), many of the world's organisms breathe in a different way.

by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jan 25th, 2012 at 03:16:14 PM EST
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Facebook and the Degradation of Personhood
Behold homo sapiens lashed on the wheel of the digital social network: held frozen over a computer which is tied by a cord to a wall wherein the fiberglass cable carries the message; staring into the lit screen, the face pale in the unnatural light; or, with head bent in the street, the appearance sullen, running fingers across the blinking object of desire.   The creature is secretly harried: Constant updates are necessary, the user must tend the machine whenever and wherever possible - which is all the time and everywhere - and god forbid there is too long a lapse in the slipstream.  On Facebook, new friends and old are counted - may they always increase in number!  Some are in fact "friends," in the now rotting sense of the word: the person who is to be confided in, who listens, cares what to listen for, knows secrets, keeps them, knows who you are to the extent that a friend can - the friend as he or she who might look into your eyes and, with affection and even love, claim to see the windows of the soul.

As we know, however, many Facebook "friends" bear no relation to how we want to understand the term.  Perhaps known to the user at work or at school in the flesh, yet they cannot be counted as real friends.   Some are strangers, known only via the interface of the machine, attracted to the user by an algorithm calculating the databit "likes" and "dislikes."

by das monde on Thu Jan 26th, 2012 at 12:57:25 AM EST
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Christopher Ketcham (for it is he):
Behold homo sapiens lashed on the wheel of the digital social network: held frozen over a computer which is tied by a cord to a wall wherein the fiberglass cable carries the message; staring into the lit screen, the face pale in the unnatural light; or, with head bent in the street, the appearance sullen, running fingers across the blinking object of desire.   The creature is secretly harried: Constant updates are necessary, the user must tend the machine whenever and wherever possible - which is all the time and everywhere - and god forbid there is too long a lapse in the slipstream.

It was a dark and stormy night...

by afew (afew(a in a circle)eurotrib_dot_com) on Thu Jan 26th, 2012 at 05:38:17 AM EST
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I didn't know they'd legalised wanking in public. Learn something new every day.
by Colman (colman at eurotrib.com) on Thu Jan 26th, 2012 at 05:43:27 AM EST
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with George Monbiot: Imaginary Friends
Earlier this month, I questioned the credentials of the alternative weather forecasters being used by the Daily Mail, the Express, the Telegraph and the Sun. I suggested that their qualifications were inadequate, their methods inscrutable and their results unreliable. I highlighted the work of two of these companies: Exacta Weather and Positive Weather Solutions (PWS).

...

Both Charlotte and Emma have been quoted in the Daily Mail and their forecasts have formed the basis of some prominent stories. In April last year, for example, their claims were all that justified an article titled "It's sunshine all the way as forecasters predict 21c by Grand National weekend". Citing both women as sources at different points in the report appeared to lend it weight. But are either of them real?

...

"Quite frankly, the filing system I have is a mess and I cannot put my hands of the information you require. ... Your column which was understandably critical of us at Christmas made me face a few things about the company and where it was going, and now as I can't find anything to back anyone up then quite frankly PWS is now more trouble than its worth and in debt. Therefore, I have taken the decision after 6 years to close the business forthwith."



tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker
by Migeru (migeru at eurotrib dot com) on Thu Jan 26th, 2012 at 08:52:17 AM EST
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A sharp-eyed reader has sent me a screenshot he took from the PWS website at the end of last year. As you can see, it shows eight people whom the company lists as its forecasters and experts. (Well, seven and a cup of tea, currently standing in for its chief assistant forecaster). Some of these pictures are of striking young women with, er, prominent credentials. They have, the website claims, been producing PWS's forecasts and writing its blog posts. They have also been quoted in the Daily Mail.

So who are they? A picture search suggests an impressive range of talents. Take "Serena Skye", for example, listed by PWS as a "contributing weather forecaster". She also turns out to be a mail order bride, a hot Russian date and a hot Ukrainean date. How she finds time for it all we can only guess.

rotflmao

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Thu Jan 26th, 2012 at 10:49:05 AM EST
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They should have seen it coming.
by ThatBritGuy (thatbritguy (at) googlemail.com) on Thu Jan 26th, 2012 at 10:59:25 AM EST
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by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jan 25th, 2012 at 12:19:29 PM EST
BBC News - Gabrielle Giffords resigns from Congress amid tributes

Arizona Representative Gabrielle Giffords has formally resigned from the US Congress, receiving a standing ovation from her colleagues.

Ms Giffords, shot by a lone gunman during a constituency meeting in January 2011, announced on Sunday she was resigning to complete her recovery.

Before the ceremony, the House voted unanimously in favour of a final bill she introduced, on immigration.

In her resignation letter, Ms Giffords promised to return to public life.

by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jan 25th, 2012 at 03:07:12 PM EST
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