USA: The November Elections - Corporate Influence, Polarization, Public Confusion - a European Perspective

Starting today, and until some time after the US November elections, EU-Digest editor, presently on site in the US, will be highlighting news items about these elections for our readers. The upcoming US elections are seen by many as likely deciding the fate of the United States for the foreseeable future. Based on what is at stake, the outcome of these elections will also be consequential for US relations with Europe and the rest of the world.

One of the most amazing facts about Barack Obama’s improbable run to the Presidency was the role of young people in energizing his campaign and persuading their skeptical elders that Obama was the best candidate in the field. It inspired a wave of youthful idealism that one had not seen since the 60’s in the US..This passion carried through the primaries and the general election, moving a mountain once thought unbridgeable in American politics and led to the election of US's first Black president. So if the Democrats want to do well and hold control in the US Congress or Senate they will need the support of these young people again, but the enthusiasm does not seem to be there at the moment, and time is running out.

Has the Obama Administration so far been successful ? Based on the state of the US economy when President Obama took over from the 8 year Bush Administration, the answer in all fairness should be yes.  To put it more bluntly, the Obama Administration, in its first two years, probably helped avoiding a Depression. They created a health care plan which began to extend coverage to the nation’s more than 45 million uninsured people. What Obama was not able to do within this relatively short time was to start with the modernization of the US infra-structure, and to begin making an investments in wind and solar energy, necessary to reduce reliance on fossil fuels and retard Global Warming.

These are precisely the programs the US economy needs to compete with other advanced nations and for it to maintain its standard of living without putting intolerable pressure on the world’s resources.

But obviously the Conservatives are not happy and a lot of people are listening to them.  Fact is that based on what Republican candidates and their T-Party surrogates have been saying, it now seems that the result of a win by them and their possible control of the US Congress in 2010, could mean that the US would be looking at a future whereby it would get: *No major investments in infrastructure repairs, *No national commitment to developing alternative energy resources or providing incentives to car buyers, homeowners and businesses to become more energy efficient, *No construction of a high speed rail system comparable to those that exist in Europe and Asia , *An end to unemployment benefits for people experiencing long term joblessness, *No expansion of rights for gay workers and families, *Continued excessive military spending and expansion abroad, *Continued deregulation with obvious catastrophic economic  results, * Watered down controls on the  financial and corporate sector , and * Social security cutbacks.

On the surface, therefore, the choices in November for the American voter seem simple and clear, but that does not seem to be the case in this election.

Even though a recent  POLITICO poll  shows the Democrats were seen as the party of ideas: 31 percent of the public think they’ve offered better ideas for how to govern this year, whereas only 22 percent of Americans say the same about the Republicans, and the Tea Party slides in third with only 16 percent support, 34 percent of Americans think the Democrats have been the most negative party during this election cycle, vs. 23 percent who say Republicans and 15 percent who name the Tea Party.This seems somewhat strange, as Democrats manage to appear both more negative, and more idea-oriented, than their conservative opponents. For some reason the more positive image of the Democrats does not appear to have rubbed off on the US voters. Is it because the Republicans and their T-Parry cohorts are spending untold millions on mostly-negative ads, that a majority of the voters are still under the impression that Obama and his party are making political hay instead of helping them. Is this a failure of the Democratic "spin-doctors" or just a question of large sums of money flowing into the Republican campaign effort from corporate and even unknown local and foreign sources, giving them the upper-hand in the media, TV and air-waves?

Only time will tell, but one thing seems certain to us outsiders looking in, the American voter is confused, adrift and not in touch with the reality that positive change usually has to come at first with hardship.

As an opener for these daily "Election USA" reports in EU-Digest we feature Clarence Page's editorial 'Tea Party working anti-elitist theme'

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US elections: Tea party elitism: Education is not the mark of an elitist - by Clarence Page

In her continuing effort to distance herself from her own beliefs, Delaware's Christine O'Donnell is trying her best to convince the world that she's a genuine, regular person. If she can fake that, as an old saying goes, she's got it made.

In her first television ad as the state's Republican Senate nominee, the youthful 41-year-old famously announced, "I am not a witch." I'm glad so that she cleared that up. This may be the first time since the 1692 Salem witch trials that an American candidate has felt compelled to make that disclaimer.

Having set a low bar of achievement for herself, her more recent television ad slides even farther down the socioeconomic ladder of one-downsmanship. "I didn't go to Yale," she proudly declares, "… I am you." That probably doesn't help her with voters who went to Yale, but they're probably voting for her opponent anyway, who happens to be one of them.

For more: Tea party elitism: Education is not the mark of an elitist - South Florida Sun-Sentinel.com

Strife Complicates ECB Succession

Jean-Claude Trichet gave a sharp twist to the fast-developing narrative on his succession over the weekend, publicly putting down the man most widely tipped to follow him as European Central Bank president.

Mr. Trichet's remarks were his first response to a call by German central bank head Axel Weber for an immediate end to the ECB's buying of euro-zone government bonds, a policy he said isn't only risky but ineffective. Mr. Weber's speech, delivered in New York, came only days after Mr. Trichet had told a press conference that the program would continue as long as necessary.

For more: Strife Complicates ECB Succession - WSJ.com

EU debates new debt rules as euro surges

European finance ministers plan to hash out a deal on stricter budget rules to avoid another government debt crisis, as a surging euro casts doubt on the continent's fragile economic recovery.

Two differing proposals spelling out penalties for overspending governments will be considered, after ballooning debt and deficit levels in countries like Greece, Ireland and Spain shook the foundations of the 16-nation eurozone earlier this year.

The two-day gathering beginning Monday in Luxembourg comes amid the specter of a possible global currency war, as governments around the world try to boost their economies by pushing down the value of their currencies, thus making their exports more competitive.

For more: The Associated Press: EU debates new debt rules as euro surges

Russia Looks to Formalize Relation With E.U. - by Judy Dempsey

Ahead of a summit meeting Monday in Deauville, France, between the leaders of Germany, Russia and France, Moscow is asking for regular participation in the European Union committee that is responsible for setting the bloc’s foreign policy.

“We would like Russia and the E.U. to be able to take joint decisions,” Vladimir Chizhov, Moscow’s ambassador to the European Union, said in a telephone interview with the International Herald Tribune over the weekend from Brussels. “I don’t expect to be sitting at every session of the political and security committee, but there should be some mechanism that would enable us to take joint steps.”

Such arrangements would mark a major change in E.U.-Russia relations, which have been held back because of divisions inside the 27-member bloc over how to deal with Russia. They might also go some way to meet Russia’s calls for a new security architecture, a move aimed at gaining a greater say in strategic issues in Europe.

For more: Russia Looks to Formalize Relation With E.U. - NYTimes.com

The US Political Landscape: Selling America to the highest bidder -

This rising tide of soft money has all but eroded the three pillars of America’s campaign-finance system: the ban on corporate contributions, strict limits on individual donations and public financing for the presidential campaign. Companies and unions may be barred from making direct political donations, but they can spend unlimited amounts of soft money on issue ads. All candidates may be banned from taking contributions of more than $1,000 from individuals or $5,000 from political action committees in any election cycle; but they can take unlimited sums from outside sources by establishing separate soft-money committees. When Bill Clinton and Bob Dole introduced the idea of soft money in 1996, they seemed to have discovered a novel way to get round the election rules. Now soft money has become just another part of the American political landscape.

Money has a way of getting round the rules, and the Supreme Court does not help by (mistakenly) equating freedom of speech with freedom to spend money ad libitum on getting elected. But there is a growing sense that those explanations remain excuses rather than decent reasons. Without action, campaign-finance reform will surely play an even greater role in the next election. And nobody should be surprised.

Lexington: Selling America to the highest bidder | The Economist

Banking industry: A Foreclosure Sitcom - by Al Lewis

First we learned America's biggest banks couldn't properly lend. Then we learned they couldn't keep themselves solvent without taxpayer assistance. Then we learned they couldn't effectively work with troubled borrowers in a bursting housing bubble. And now we've learned they don't even know how to foreclose.

Last week, attorneys general from 50 states launched investigations into the defective and fraudulent paperwork banks have been filing in courts as they foreclose their bad loans across the land. Banks have been caught deploying "robo-signers" who sign off on thousands of documents and affidavits without even so much as looking at them. This is more than just a little paperwork problem. Ohio Attorney General Richard Cordray put it best: "This is about the private-property rights of homeowners facing foreclosure and the integrity of our court system, which cannot enter judgments based on fraudulent evidence."

Imagine losing your home and then another bank says it wants to foreclose on you, too. "But I was already foreclosed," you might say. And the bank might say, "Whoops. The court gave your house to the wrong bank."

For more: A Foreclosure Sitcom - WSJ.com

EU-India trade up 26 percent in 2010

Exports from the 27-member European Union to India have increased to 19.4 billion euro until July this year, up 26 percent from 15.4 billion euro during the first seven month of 2009.

For the same period, Indian exports to the EU went up by 25 percent from 15.1 billion euro to 18.8 billion euro, according to figures released by Eurostat, the EU statistics office.

European Union's trade with all its major partners grew between January and July 2010 compared with the same period of 2009, according to EuAsiaNews.

For more: EU-India trade up 26 percent in 2010

Alternative Energy Industry - China:U.S. probes China on clean-tech industry - by DON LEE AND TIFFANY HSU

The Obama administration, facing increasing political pressure to address complaints about China's economic policies, said Friday that it was investigating whether China was illegally subsidizing its clean-tech industry - even as officials put off a difficult decision on whether to cite Beijing as a currency manipulator.

U.S. Trade Representative Ron Kirk said his office was probing allegations filed last month by the United Steelworkers Union that China was assisting its domestic producers of wind, solar and electric car products with protectionist and subsidy policies in violation of World Trade Organization rules. The complaint blames these policies for a large and growing U.S. trade deficit in clean-energy goods with China, which has emerged as a dominant producer and market for such products.

"Green technology will be an engine for the jobs of the future, and this administration is committed to ensuring a level playing field for American workers, businesses and green technology entrepreneurs," Kirk said.

For more: U.S. probes China on clean-tech industry - McClatchy Network - Kentucky.com

Trichet Says Euro Region Needs `More Ambitious' Rules to Keep Fiscal Rigor

European Central Bank President Jean-Claude Trichet called for “more ambitious” rules to force member countries to maintain fiscal discipline and punish those who don’t.

“For the euro area, more ambitious reforms are needed to ensure the smooth functioning of monetary union,” Trichet said in a speech at the World Policy Conference in Marrakech. There must be “greater automaticity, accelerated timelines and reduced room for discretion in procedures.”

European Union finance ministers meet in Luxembourg on Oct. 18 to consider European Commission proposals to fix budget management and avoid runaway deficits that led to Greece’s near- default this year. France is balking at calls for the faster imposition of sanctions on deficit-ridden governments, putting it at odds with Germany and the ECB over how to prevent a repeat of the debt crisis.

For more: Trichet Says Euro Region Needs `More Ambitious' Rules to Keep Fiscal Rigor - Bloomberg

Bernanke Preps Markets For Further Fed Action Despite Questions About Impact

Federal Reserve Chairman Ben Bernanke further prepped Wall Street on Friday for another round of Fed activity to lower interest rates despite the risks it poses and questions about its effectiveness.

In a morning speech delivered at a conference organized by the Federal Reserve Bank of Boston, the Fed chairman said that "[g]iven the [Fed's] objectives, there would appear -- all else being equal -- to be a case for further action."

For more: Bernanke Preps Markets For Further Fed Action Despite Questions About Impact

Netherlands; Dutch Minority Government Takes Office, Doubts Remain

After months of difficult negotiations, the Netherlands got a minority government Thursday which is relying on the support of the anti-Islam party of Geert Wilders.

Analysts doubt whether the cabinet will be stable enough to execute its EUR18 billion austerity package. They also say the new government shuns structural economic reforms to keep the generous Dutch welfare system sustainable over the longer term.Following months of difficult negotiations, the center-right Christian Democrats and Liberal Party have squeezed out an agreement to form a minority government, the first one in the Netherlands since World War II.

The coalition has the backing of the populist and anti-Islam politician Geert Wilders, whose Freedom Party will give parliamentary support but won't be part of the government.

For more:Dutch Minority Government Takes Office, Doubts Remain - WSJ.com

Hedge Funds: France wants non-EU funds fully regulated:

France is not against foreign hedge funds operating in Europe, contrary to US charges, but wants them to be regulated, preferably via a European-wide body, a French document showed on Money. In a letter to US Treasury Secretary Tim Geithner, French Economy Minister

Christine Lagarde said that France was not taking a protectionist stance on one of the important regulatory reforms sought after the global financial crisis.

Rather, France believed that such non-European, offshore funds should have the same access to the European market as before, Lagarde said in a letter addressed to Geithner on Friday.

But with negotiations on their access to the market "entering a decisive phase," according to Lagarde, the issue now turns on how they will be regulated.
For more: France wants non-EU funds fully regulated: Lagarde letter < French news | Expatica France

Airline Industry: Airbus gets firm order from Hong Kong Airlines

Airbus says Hong Kong Airlines has confirmed an order for 25 aircraft, including 15 of its new A350 long-range, mid-size jets.

The European jet maker said in a statement Wednesday the order also included 10 of its A330-200 long-range aircraft. The order was first announced at the Farnborough International Airshow in July.

For more: Airbus gets firm order from Hong Kong Airlines - BusinessWeek

EU's Barroso expresses "great admiration" for miners' rescue

European Commission President Jose Manuel Barroso hailed Wednesday the rescue operation by Chile to rescue 33 men trapped in a northern Chilean mine.

For more: EU's Barroso expresses "great admiration" for miners' rescue - Monsters and Critics

European airlines' export credit proposals

n">Leading airlines have called on Europe and the United States to cap export credits on the sale of passenger jets at 20 percent of deliveries in the latest ripple of a growing multi-billion-dollar subsidy spat.

For more: TEXT-U.S., European airlines' export credit proposals | Reuters

World Economy: 60% of countries will be bankrupt within 50 years by Daniel Tencer

Some sixty percent of the world's economies will be so in debt by 2060 that their debt will be downgraded to "junk" status, effectively bankrupting the countries, says a report from Standard & Poor's ratings agency, which also warns that attempts to deal with the problem could cause social instability.

The report (PDF) -- entitled Global Aging 2010: An Irreversible Truth -- says that the proportion of the world's population that is elderly is set to explode to such a degree that many countries will simply not be able to keep up with the ballooning costs of health care and other services.

As elderly people live longer, due to better health care, the proportion of elderly to the rest of the population grows, meaning an ever shrinking proportion of working people is relied upon to fund services for the elderly. But the report warns that efforts to scale back the costs of government services could "severely test social cohesion." And the authors admit that public opinion, in general, is unfavorable to cutbacks in social services.

The S&P report states that the overall debt burden among the world's countries averages to about 40 percent of GDP. By 2050, the report predicts it will have exploded to 245 percent of GDP -- two and a half times the size of the economy. For the United States specifically, the scenario is even worse: S&P forecasts that the US's national debt will explode from around 69 percent in 2010 to 415 percent in 2050 -- an unheard-of level, exceeding even the massive debt levels seen during World War I and World War II.

For more: S&P: 60% of countries will be bankrupt within 50 years | Raw Story

USA: Fast Food Nation

Fast food has infiltrated every nook and cranny of American society. An industry that began with a handful of modest hot dog and hamburger stands in southern California has spread to every corner of the nation, selling a broad range of foods wherever paying customers may be found. Fast food is now served at restaurants and drive-throughs, at stadiums, airports, zoos, high schools, elementary schools, and universities, on cruise ships, trains, and airplanes, at K-Marts, Wal-Marts, gas stations, and even at hospital cafeterias. In 1970, Americans spent about $6 billion on fast food; in 2000, they spent more than $110 billion. Americans now spend more money on fast food than on higher education, personal computers, computer software, or new cars. They spend more on fast food than on movies, books, magazines, newspapers, videos, and recorded music - combined.

For more: Fast Food Nation

Surge in Premium Petfoods Drives Strong Growth for Provimi in Europe

Provimi Pet Food, which supplies private label products to Europe's largest supermarkets, enjoyed strong sales growth in the first half of 2010 on the back of strong demand for premium quality products, it announced today.

The multinational recorded EUR115m of sales from January to June - a six per cent increase on the first half of 2009 - as it capitalised on its position as preferred supplier to large retail chains and won several large retail supplier contracts across Europe.

Provimi Pet Food (PPF), which operates in 28 European markets, enjoyed double-digit growth in several countries including 190% in Russia, 26% in Poland and 20% in Romania.

For more: Surge in Premium Petfoods Drives Strong Growth for Provimi in Europe

160 million malnourished children losing the battle for food against the worlds spoiled and pampered pets

Spending on pet supplies and over-the-counter medicines for pets is projected to reach about euro 8 billion in the US this year alone. Records also show people will continue to be spending above and beyond on their pets, in particular as the population ages and pets start taking the place of children at home. Consequently pets have drawn more and more the attention of large retailers and institutional investors, who have been expanding quite aggressively into this lucrative "pet space".

Pet products and services are now also catching up with the growing popularity of review sites such as www.petinsurancereview.com, product reviews on Amazon.com, and instantaneous feedback on Twitter. Blogs such as Pet Connection, Pet Sit USA and Dolittler continue to provide high quality commentary on all aspects of pet news and issues, and are expanding their reach and depth across the "pet web". The number of pet bloggers also continues to grow and the best are even more accessible on the blog list website Alltop pets. There is even a proposal in the US Congress to allow taxpayers to deduct up to euro 3,000-a-year in pet care expenses, including vet care.

Is this really fair?  No  it isn't, especially if we know that : 1) The World Health Organization estimates that one-third of the world is well-fed, one-third is under-fed one-third is starving- 2)That Since you've read this at least 200 people have died of starvation. Over 4 million will die this year alone. 3) One in twelve people worldwide is malnourished, including 160 million children under the age of 5. 4)The Indian subcontinent has nearly half the world's hungry people. Africa and the rest of Asia together have approximately 40%, and the remaining hungry people are found in Latin America and other parts of the world. 5) The Indian subcontinent has nearly half the world's hungry people. Africa and the rest of Asia together have approximately 40%, and the remaining hungry people are found in Latin America and other parts of the world. 6) Nearly one in four people, 1.3 billion - a majority of humanity - live on less than $1 per day, far less than what people in the Western world spend on their pets per day.

No one is suggesting not to have pets, or not to spoil them. What would be fair, however,  is for governments of affluent countries like the US, EU, and Asia to impose a small tax on all pet products, foods and services, and earmark these collected funds for UN programs which deal with human suffering in the world.

In this way "the Jones family" who took their poodle to a "poodle boutique" for it to get groomed,  followed up by a delicious " vitamin filled gourmet can of dog food"  can be happy to know they also did a good deed.  For by law, a small percentage of the bill they paid, to take care of their dearly loved poodle, would also be feeding a hungry child somewhere in the world they probably never knew even existed.

It is known as compassion for your fellow human beings.

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Ukraine's Sex Trade: Now More Voluntary, Harder to Fight - by Mauro Bottaro

It took less than a decade after the collapse of the Soviet Union for Odessa to become a hub for the international sex trade. The conditions were just about perfect. The bustling port on the Black Sea was an easy gateway from the poorest parts of Ukraine, Romania and Moldova to Western Europe and the Arab states.

"The real action is in the Emirates, Dubai or Antalya in Turkey," says Masha, a stick-thin 19-year-old who teeters a little on her heels. "Don't be confused," she says. "Nobody takes us by the hair and drags us onto the ships." She gestures toward the mouth of the port. "Those are like the gates to freedom for a lot of us," she says.

For more: Ukraine's Sex Trade: Now More Voluntary, Harder to Fight - TIME

US elections: Bill Mann: Willie Brown's Savvy November Predictions on Who'll Win

Want to know how the Democrats -- and Tea Party candidates -- are likely to do in the US midterm elections?

There's no one better to ask than former San Francisco Mayor and longtime California State Assembly Speaker Willie Brown. Brown's not only an experienced politician, he's also a widely respected political analyst and prognosticator.

Brown recently sat down with MarketWatch's Jonathan Burton in San Francisco for a rare extended interview (which you can see here in its entireity) and talked about about the upcoming November elections.

For more: Bill Mann: Willie Brown's Savvy November Predictions on Who'll Win

Aircraft Industry: WTO ruled Boeing got improper aid - by Christopher Hinton

The World Trade Organization handed down an interim decision Wednesday in a long-running dispute over whether Boeing Co. received unfair government support, giving it an advantage over European aerospace rival Airbus.

People and organizations that have seen the report claim it hands the European Union a clear victory, condemning “massive subsidies” to Boeing, as characterized by one French minister in a government statement. “Today’s preliminary ruling clearly states that Boeing was involved in practices prohibited by the World Trade Organization,” concluded Sen. Richard Shelby (R-Ala.), in a separate statement.

The Office of the U.S. Trade Representative confirmed it received the confidential decision but declined to comment on its contents.

Photo: Airbus A330 tanker refueling two Euro fighters
For more: WTO ruled Boeing got improper aid - MarketWatch

ESA - Conference at the European Parliament on 'a new Space Policy for Europe'

Europe’s future in space and the opportunities it will offer to us all will be discussed at a conference in Brussels on 26–27 October under the aegis of the European Parliament. Members of the public are invited to attend.

This conference, organised with the participation of ESA and under the high patronage of the President of the European Parliament, Mr Jerzy Buzek, is a new opportunity for the political decision-makers, company executives and representatives of civil society to discover and debate the political and financial stakes as well as the exciting industrial and service opportunities offered by the competence on the space policy of the EU.

The Convention of ESA, an International Treaty among 18 European States that entered into force in 1975, establishes that the purpose of the Agency is to foster cooperation among European states in space, by elaborating and implementing a long-term European Space Policy.

For more: ESA Portal - Conference at the European Parliament on 'a new Space Policy for Europe'

Bulgaria: 10 Kg of Cocaine from Suriname Captured in Bulgaria's Varna

Customs officers at Bulgaria's Port Varna-West have discovered 10 kg cocaine hidden in a cargo container. Using risk analysis methods, the officers selected randomly a container with lumber from the Latin American Republic of Suriname, the Customs Agency announced.

The cocaine was found hidden in specially designed hollows inside the logs. The investigation of the cocaine shipment was transferred to the police.

According to investigations of international authorities and organizations, Bulgaria's Black Sea ports are increasingly becoming an entry point into Europe for Latin American cocaine.

For more: Bulgaria: 10 Kg of Cocaine from Suriname Captured in Bulgaria's Varna - Novinite.com - Sofia News Agency: "- Sent using Google Toolbar"

Britain tops jobless league table

Nearly one in eight British households has no-one in work, the highest rate of the six largest EU economies, according to a think tank report.

The UK has a total of 11.5% of households where no adults are working, compared to 10.5% in France, 9.2% in Germany and only 6% in the Netherlands, the Centre for Policy Studies (CPS) study has shown.

For more: The Press Association: Britain tops jobless league table

Microsoft hopes to bury iPhone, Android - by Bill Rigby.

Windows Phone 7 software showed how badly Microsoft wants to resurrect itself in the viciously competitive phone market.




The new software, which will be publicly unveiled on October 11 and expected on handsets in stores by November, is Microsoft's last chance, some analysts say, to catch up with Apple and Google Inc's Android smartphones, after squandering its strong market position in only a few years. A group of smartphone manufacturers including Samsung and HTC Corp are expected to roll out Microsoft-based phones for the holiday season.


Whether they will be good enough to render the iPhone obsolete is the question.

For more: Microsoft hopes to bury iPhone, Android | Reuters

US elections: CNN Poll: Was Bush better president than Obama? – No he was not !

By 47 to 45 percent, Americans say Obama is a better president than George W. Bush. But that two point margin is down from a 23 point advantage one year ago.

"Democrats may want to think twice about bringing up former President George W. Bush's name while campaigning this year," says CNN Polling Director Keating Holland.

"But that doesn't mean that Americans regret their decision to put Obama in the White House in 2008. By a 50 to 42 percent margin, the public says that Obama has done a better job than Sen. John McCain would have done if he had won. And by a 10-point margin, Americans also say that Joe Biden has done a better job than Sarah Palin would have done as vice president," adds Holland.

For more: CNN Poll: Was Bush better president than Obama? – This Just In - CNN.com Blogs

Terror target Europe, or part of a cynical politically motivated attempt to justify Washington’s Afghan war ? by David Pratt

In the space of just a few weeks, much of Western Europe would be put on alert for an imminent terrorist killing spree that some say had the blessing of Osama bin Laden himself. In an effort to stave off the attacks, high-tech British surveillance and pilotless US predator drones would be used to target al-Qaeda operatives of European origin in and around Miranshah and other parts of Northern Waziristan.

But just how, in such a secretive place, regarded by many in the West as the most dangerous region on Earth, was the plot discovered in the first place? And what, if any, are the connections between the European nationals, each of whom had taken up the al-Qaeda cause and were preparing for a return to their homelands to wreak havoc in a Mumbai-style commando operation?

Indeed, was the threat as potent as the CIA made out, or was the warning exaggerated and part of a cynical politically motivated attempt to justify Washington’s Afghan war strategy?

For more: Terror target Europe - Herald Scotland | News | Home News

10-10-2010: Netherlands Antilles are no more - but individually "Islands in the sun" still part of the Dutch Kingdom

Tomorrow 10-10-10 will bring an end to 56 years of a constitutional arrangement between the Netherlands(Holland) and its Caribbean dependencies Curaçao , St Maarten, Bonaire, St Eustatius and Saba. The Island of Aruba, which was part of the group, negotiated its own internal autonomy already in 1986.

Under the new agreement Curaçao and St Maarten, the larger islands of the Netherlands Antilles will become self governing within the Kingdom of the Netherlands, except in matters of defense, foreign policy, and judicial and financial affairs, which will remain the responsibility of the Dutch government.

The three smaller Netherlands Antilles islands, Bonaire, St Eustatius and Saba will gain Dutch municipality status.Together the smaller islands have 19.000 inhabitants. Aruba and Curacao have a total population of 208.000 inhabitants.

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Currency war: What to do about China's currency? by C. Fred Bergsten, Mark Zandi, Douglas Holtz-Eakin, Kenneth Lieberthal and Rep. Sander M. Levin

In an ideal world, China would allow its currency to appreciate some 5 percent each year for the next five years. A yuan that is 25 percent stronger would be appropriately valued, and the U.S.-China trade imbalance would fade, no longer threatening the relationship between the two countries and, by extension, the global economy.

U.S. policymakers need to do (and should do) very little to achieve this. The economic logic of reforming China's currency policy is compelling, for China as well as the United States. A stronger yuan would enrich Chinese households, lowering their cost for imported goods. It would also enable China to purchase the global assets it covets, from U.S. technology to African raw materials.

This logic guided Chinese policy before the Great Recession, with the yuan rising almost 20 percent between summer 2005 and summer 2008. Chinese authorities reasonably halted further moves when the global financial panic hit, but in recent months, with more stable conditions, they have resumed revaluation. It hasn't been as fast as policymakers would like, but it signals that the Chinese accept the logic behind a more flexible currency.

U.S. policymakers may be tempted to use a stick, such as greater tariffs on Chinese imports, to induce faster currency appreciation. But this would be counterproductive, stifling both Chinese imports and, as China retaliates, U.S. exports. This is a scenario for a new global recession. Currency revaluation is vital and logical, for China's own sake as well as ours, but the case must be accepted on its merits, not because of threats.

The head of the International Monetary Fund on Friday urged global finance ministers to stop trying to manipulate their currencies for economic advantage and instead to join together to save a fragile recovery.

For more: What to do about China's currency?

Cartoon: Dave Granlund

Norway: Chinese dissident Liu Xiaobo wins Nobel Peace Prize - Obama and other world leaders call for his release from prison

Imprisoned Chinese dissident Liu Xiaobo is this year's winner of the Nobel Peace Prize. Liu is a 54-year-old literary critic and democracy activist who was awarded the prize for "his long and non-violent struggle for fundamental human rights in China," the Norwegian Nobel Committee said Friday.

The Chinese government reacted angrily to Liu's win. Chinese Foreign Ministry spokesman Ma Zhao Shu said the decision to grant the award to "a criminal" is a violation of the spirit of the Nobel Peace Prize. China called in Norway's envoy to the country to protest the award, while in Oslo, the Chinese ambassador met with a Norwegian Foreign Ministry official.

Mr Liu, 54, was a key leader in the Tiananmen Square protests in 1989.
Last year he received an 11-year sentence for "inciting subversion" after drafting Charter 08 - which called for multi-party democracy and respect for human rights in China.

US President Barack Obama called for Mr Liu's immediate release.

"We call on the Chinese government to release Mr Liu as soon as possible," Mr Obama, last year's Nobel Peace Prize winner, said in a statement.

In New York, UN Secretary General Ban Ki-moon said the award to Mr Liu was "a recognition of the growing international consensus for improving human rights practices and culture around the world".
German government spokesman Steffen Seibert said China should free him so he could attend the ceremony.
France's Foreign Minister Bernard Kouchner also welcomed the award and also called on China to release Mr Liu.

News of the Noble prize for Mr Liu was blacked out by Chinese state-owned media, and government censors blocked prize reports from the internet.

For more: CBC News - World - Chinese dissident wins Nobel Peace Prize

The company behind Hungary's toxic spill

MAL chairman Lajos Tolnay is estimated to have a personal fortune of some 85m euros ($118m; £74m), making him the 21st richest person in Hungary, according to business daily Napi Gazdasag.

His two co-owners Arpad Bakonyi and Bela are said to each be worth about euros 61 each. The company itself posted a profit of 715,000 euros in 2008, on revenues of 157m euros.

The company has said the incident was a "natural catastrophe" and insists on its website that the red sludge is not considered toxic waste according to European Union safety standards. But the Hungarian Prime Minister Viktor Orban has said that human error was "more than likely and that the wall [of the reservoir] did not disintegrate in a minute. This should have been detected," he said.

For more: BBC News - The company behind Hungary's toxic spill

Banking Industry: Europe’s bankers face bonus blues - by Megan Murphy

Sweeping new guidelines on bonuses set to be issued by banking supervisors from all 27 European Union nations will force a radical overhaul of how banks pay their top performers in an industry that claims to be suffering from regulatory overload.

Draft guidelines on how tough new rules on pay agreed by the EU this summer should be interpreted may require banks to impose a range of new limits, including capping bonus payments at a multiple of annual salary and limiting the cash component of bonuses to 20 per cent of the total amount.
Those two measures alone would mark a huge change for an industry that is based – at least in theory – on the premise of pay for performance.

But perhaps the biggest potential blow to European banks is the fact that the draft proposals would apply to senior staff and “risk-takers” across the worldwide operations of European-based organizations.

For more: FT.com / Companies / Banks - Europe’s bankers face bonus blues

Climate change conference: Tianjin trauma between US and China threatens to derail Cancun climate summit projections - by James Murray

The row between the China and US intensified at the latest round of UN climate change talks in Tianjin earlier today, threatening to completely derail preparations for the crucial two-week summit in Cancun, Mexico that starts next month.

Relations between the two countries have further worsened in the last 24 hours with one senior Chinese diplomat accusing the US of adopting an " outrageous" and "unacceptable" negotiating position.

The stand-off continues to center on the US refusal to agree to more ambitious emission reduction targets and China's insistence that industrialized nations must sign up to more demanding targets if the negotiations are to move forward.

For more: Tianjin trauma threatens to derail Cancun climate summit - 07 Oct 2010 - BusinessGreen.com

US Economy: Americans Vastly Underestimate Wealth Inequality, Support 'More Equal Distribution Of Wealth' says Study

Americans vastly underestimate the degree of wealth inequality in America according to a new study. Or, as the study's authors put it: "All demographic groups -- even those not usually associated with wealth redistribution such as Republicans and the wealthy -- desired a more equal distribution of wealth than the status quo."

The report (pdf) "Building a Better America -- One Wealth Quintile At A Time" by Dan Ariely of Duke University and Michael I. Norton of Harvard Business School , shows that across ideological, economic and gender groups, Americans thought the richest 20 percent of our society controlled about 59 percent of the wealth, while the real number is closer to 84 percent.

More interesting than that, the report says, is that the respondents (a randomly selected 5,522-person sample, reflecting the country's ideological, economic and gender demographics, surveyed in December 2005) believed the top 20 percent should own only 32 percent of the wealth. Respondents with incomes over $100,000 per year had similar answers to those making less than $50,000.

Note EU-Digest: this shows that the US population is either not well informed, does not read, is not interested in economics or just plain ignorant to what is happening around them?

For more: Americans Vastly Underestimate Wealth Inequality, Support 'More Equal Distribution Of Wealth': Study: "- Sent using Google Toolbar"

Conservatism: income inequality makes even the poor more conservative

Income inequality makes the poor more conservative -- more likely to support smaller government and actually to perpetuate income inequality, two academics argue in a report released earlier this year.

The report, "Inequality and the Dynamics of Public Opinion: The Self-Reinforcing Link Between Economic Inequality and Mass Preferences" (pdf), authored by Nathan J. Kelly and Peter K. Enns, says income inequality is a self-perpetuating condition: As it increases, public opinion among both the rich and the poor shifts increasingly in its favor.

The authors' conclusion, which they say is likely to be "surprising to many readers," is that "both the rich and the poor respond to rising inequality by shifting in a conservative direction." This conservatism includes a desire to cut government programs such as welfare.

For more: KellyEnns_preprint.pdf - By Nitro PDF Software

Combating terrorism not only requires weapons but also an investment in education

Somalia and Haiti have topped a list of the world’s worst places to be a school child according to a new report from the Global Campaign for Education.  

The countries have been ranked according to factors including access to basic education; teacher: pupil ratio; and educational provision for girls. The bottom 10 countries are Somalia, Eritrea, Haiti, Comoros, Ethiopia, Chad, Burkina Faso, Central African Republic, Mozambique, Zimbabwe and Liberia.

In Somalia, for example, ongoing conflict and civil unrest have had a catastrophic effect on education with most recent data estimating that only 10 percent of children are enrolled in primary school.


In Nigeria, the sixth biggest oil producer in the world, a lack of political will is a major factor in the country having the highest number of children out of school in the world. Gross inequality in the provision of education has led to 8.2 million children out of primary school with many more dropping out within the first year. Over half of these children are in the north of the country. Girls suffer the most with many receiving just six months of education in their lives. The situation is made all the more appalling by the fact that Nigeria is far from poor, by African standards. On paper at least it is among the continent’s richest countries. But decades of failure to invest in education have left the basic school system hardly functioning. While there has been progress in primary provision of education, only one country in Africa has more than 50 percent of its children in secondary school.

The wealthy nations of this world by not trying to seriously reverse this unfortunate situation in the area of education are basically digging their own grave. Those increasing numbers of uneducated people in the world are an easy prey for religious fanatics and they will come and haunt the rest of us full force.

Combating terrorism not only requires weapons, but also an investment in education where it is needed most. That is really the only long term way of stopping the spread of terrorism.

EU-Digest 
For permission to quote or publish EU-Digest reports : editor@eu-digest.com  

British Ambassador in Yemen discusses yesterday's attack on the Embassy Car

Al Qaeda militants fired a rocket at a British Embassy car in Yemen yesterday. The Deputy Ambassador was inside and although she escaped unharmed, one of her colleagues was injured. It's the second time in six months that British officials have been targeted. A suicide bomber tried to kill the British Ambassador Tim Torlot in April.

For the complete interview go to: British Ambassador discusses yesterday's attack in Yemen

EU: "American Hedge and Private Funds in Europe are a swarm of locusts", says German politician

U.S. Treasury Secretary Timothy Geithner recently wrote to French finance minister Christine Lagarde warning her against curbing foreign hedge funds in Europe as the battle with Washington over new EU financial controls escalates. The correspondence, sent late on Tuesday and seen by Reuters, is felt in Europe as increased pressure on Paris and the EU to make concessions on planned new controls for private equity and hedge funds.

Officials familiar with the U.S. mindset said France's position had antagonized Washington, which is worried that American hedge funds will be blocked from operating in Europe. The officials said the EU challenge could undermine relations with Washington as Sarkozy takes over the chairmanship of the G20 from November.

Diplomats said last week that Germany had sided with French finance minister Lagarde, strengthening her position, but putting Berlin also in Washington's line of fire.   Geithner consequently sent a separate letter Germany outlining his concerns to finance minister Wolfgang Schaeuble on Tuesday.  Diplomats said Germany had offered its support to Lagarde on the understanding that Paris would side with it in negotiations about controlling country spending in the EU, a sweeping reform that on paper certainly overshadows hedge fund rules.

Brussels' attempts to change the rules for hedge funds, chiefly by putting them under the watch of a new pan-European supervisor, has taken on what one financial expert called a "totemic significance".  It  also put France and Germany directly opposed against Britain, which has always sided with the US in this respect  and defended an industry London sees as important for Britain's status as Europe's financial capital.

Not everyone agrees.  "I consider American hedge and private funds which occupy London's financial center and operate around Europe as a "swarms of locusts",  said a German politician

A European parliamentarian in Bruxelles who commented on the Geithner letters said: "this smells of  the US mingling in EU sovereignty over its financial affairs, which is unacceptable. It also raises the question why the US is so overly protective of those financial entities which have caused so much economic grief around the world".

EU-Digest
For permission to quote or publish EU-Digest reports : editor@eu-digest.com
Cartoon courtesy:  www.nicholsoncartoons.com.au

Hungary battles to stop toxic sludge from reaching the River Danube - by Daniel McLaughlin

Hungary opened a criminal investigation yesterday into an escape of deadly toxic sludge from an Aluminum industrial plant, amid fears that it could grow into a regional environmental disaster.

Four people were killed, about 120 were injured and three are still missing after a dam holding waste slurry collapsed at an alumina works in the south-west of the country, sending a wave of poisonous red mud racing through nearby villages and into a tributary of the River Danube.

Rescue teams are searching for the missing people, cleaning up the caustic grime and pouring tonnes of gypsum into the River Marcal to try to prevent contamination of the Danube, Europe's second-longest river, which from Hungary flows through Croatia, Serbia, Bulgaria, Romania, Ukraine and Moldova on its way to the Black Sea

.

For more: Hungary battles to stop toxic sludge from reaching the River Danube - Europe, World - The Independent

The Netherlands: Are Geert Wilders and his lawyer Bram Moskowicz trying to ridicule the Dutch legal system ? ©

It is interesting to see how Geert Wilders and his laywer Bram Moszokowicz  are trying to turn this court case against Wilders  into a public spectacle, and more important, how they are trying to move the focus of the trial away from the prosecution claims that Wilders not only used discriminatory language against a religious faith, but also singled out specific ethnic immigrants as being unwelcome in the Netherlands.

The statements made by Mr. Wilders, and  if proven in court that he made them, are punishable by Dutch law (art. 147 Sr, art.137c Sr and art. 137d Sr.8.).

Among some of the Public statements Wilders made :  "if Muslims want to stay here, they must tear out half the Quran and toss it."  and  "close the borders, no more Islamic people into the Netherlands, many Muslims out of the Netherlands, denaturalize Islamic criminals."

Dutch and most European laws are contrary to the US First Amendment doctrine, which considers freedom of speech as an overruling  constitutional right, and by law allows all forms of  public or private expressions, be it discriminatory, anti-religious, hate enticing, pro-Nazi, or whatever.

Therefore, if during this trial the court in Amsterdam falls into Mr. Moszokowiczs trap by letting the case move into a public discussion about the existing Dutch laws versus freedom of expression (as interpreted in the US), it could turn into a very long case and probably also have political implications.

On the other hand, it can be expected that given the fact that Mr. Wilders, who is being prosecuted under Dutch law, and based on the available evidence of what Mr.Wilders has stated in public, could be found guilty and go to prison.  ©

EU-Digest

US/EUeconomy: US Fed’s ‘Flood of Liquidity’ Causes Instability, Stiglitz Says - by Fabiola Moura and Cordell Eddings

Joseph Stiglitz, Nobel Prize-winning economist, comments on the effectiveness of U.S. monetary policy, and its impact on global growth. He made the comments in a roundtable discussion at Columbia University in New York.

“There is lots of instability caused in part by the flood of liquidity from the Fed and the ECB. The irony is that the Fed is creating all this liquidity with the hope that it will revive the U.S. economy. It is doing nothing for the U.S. economy and causing chaos for the rest of the world.”

Note EU-Digest: George Sorros  also spoke about the above issue at Colombia University. For the Sorro speech go to:  http://www.onenewspage.com/news/Business/20101005/15707319/Read-George-Soros-Speech-Where-He-Warned-Of.htm

US economy : For more: Fed’s ‘Flood of Liquidity’ Causes Instability, Stiglitz Says - BusinessWeek

The Netherlands: Geert Wilders hate speech trial to resume in Netherlands - by Marcel Antonisse

A special panel of judges rejected Tuesday claims of judicial bias raised by Dutch far-right politician Geert Wilders, who is facing charges of inciting hatred against Muslims. Mr. Wilders’s trial is now set to resume Wednesday morning led by the same presiding judge, whose impartiality was questioned by the vocally anti-Islam lawmaker when the trial opened Monday morning.

“There is no substantial evidence to show that the judges have given the impression of being biased, therefore the request is being denied,” said Frans Bauduin, one of the review judges.


“He is trying to turn the court into a podium for his political activities,” says Rudy Andeweg, a professor of Dutch politics at Leiden University. “He enjoys the attention. He wants a political trial but judges won’t have that.”

Wilders’s populist Freedom Party, which became the nation’s third-largest following the June elections, has already agreed to back a new conservative government headed by the free market VVD party.  Rebel Christian Democratic Alliance (CDA) legislators Kathleen Ferrier and Ad Koppejan also offered their support Tuesday for the new Dutch Government coalition, removing the last hurdle to establishing The Netherlands’ first postwar minority government. At the same time the dissidents said they would not agree with legislation proposed by Wilders during the life of the coalition, if these were based on racial or religious discrimination.


For more: Geert Wilders hate speech trial to resume in Netherlands - CSMonitor.com

Chinese renminbi puts disproportionate burden on EURO

EU Economic and Monetary Affairs Commissioner Olli Rehn said today in Bruxelles that the euro and other area's economic recovery may suffer if the euro continues to appreciate against the Chinese renminbi and other major world currencies, and he urged China to let the value of the renminbi rise significantly.

Rehn, European Central Bank President Jean-Claude Trichet and Jean-Claude Juncker, head of the group of 16 nations that use the euro, met Chinese Prime Minister Wen Jiabao ahead of a summit between the European Union and China.

"These reforms should be complimented by an increased flexibility and thus by a broad-based appreciation of the renminbi exchange rate in relation to its main trading partners, including the euro area," Rehn said.
"If the euro continues to bear a disproportionate burden in the adjustment of global exchange rates, the recovery of the euro-area economy might be weakened."

EU-Digest

Indonesian President cancels Netherlands visit over arrest threat

Indonesia's President, Susilo Bambang Yudhoyono, has called off a state visit to the Netherlands because of a threat that he could be arrested. Mr Yudhoyono was reportedly already onboard his plane at Jakarta's airport on Tuesday when he decided to cancel the state visit.

"In recent days, a ( Moluccan) group has filed a request to the court to make an issue out of human rights in Indonesia and request the court to arrest me during the state visit to the Netherlands," he told reporters after wards.

"What I cannot accept is if the president of Indonesia makes a visit to the Netherlands, after an invitation from the Netherlands, the court decides to arrest the president of Indonesia."
 
For more: BBC News - Indonesia cancels Netherlands visit over arrest threat

"Charity begins at home" : The populist uprising against free trade - by Andrew Leonard

Participation in the global economy has never been more crucial ( say some), but left and right agree: "Boo to globalization".

A down economy always seems to go hand in hand with tensions over trade. And never mind the fact that so-called free trade pacts are really just vehicles through which powerful American corporate sectors such as the pharmaceutical industry seek to leverage access to American markets for their own specifically crafted opportunities. The phenomenon is that it reflects a much deeper distrust of engagement with the global economy that goes back a lot further than one appears prepared to admit. The economic argument for free trade -- that everyone benefits when countries maximize their
comparative advantage -- has little sway when the on-the-ground reality is that the winners from free trade in the Western World seem to be far outnumbered by the losers.
 
Growing income inequality and a progressively more squashed middle class have been in the works for decades. Yes, expanded trade with China has lowered consumer prices for all kinds of goods, but that doesn't compensate for the fact that job security is in tatters and the social welfare net is paper-thin.
People feel vulnerable, and vulnerability breeds fear. One wonders if it could all have been different -- if the U.S. had a comprehensive health-care system already in place that did not link your insurance to your job, or if tax policy didn't disproportionately favor corporations and the wealthiest Americans over the masses, would the average U.S. citizen feel less threatened by global competition? But it seems almost pointless to ask that question now. That ship has sailed. The damage is done and populists of every political stripe are itching for a trade war.

Note EU-Digest: as the saying goes, "charity begins at home".


For more: Bad timing alert: The populist uprising against free trade - Globalization - Salon.com

Pre-McNugget Meat Paste, AKA Mechanically Separated Chicken

Someone figured out in the 1960s that meat processors can eek out a few more percent of profit from chickens, turkeys, pigs, and cows by scraping the bones 100% clean of meat. This is done by machines, not humans, by passing bones leftover after the initial cutting through a high pressure sieve. The paste you see in the picture above is the result.

There's more: because it's crawling with bacteria, it will be washed with ammonia, soaked in it, actually. Then, because it tastes gross, it will be re-flavored artificially. Then, because it is weirdly pink, it will be dyed with artificial color.

But, hey, at least it tastes good, right? High five, America!

For more: PHOTO: Pre-McNugget Meat Paste, AKA Mechanically Separated Chicken

Golf: Europe Wins Ryder Cup

The American team almost overcame a 9½-6½ deficit on the first-ever Monday finish in the 83-year history of the Ryder Cup. But Graeme McDowell of Northern Ireland beat Hunter Mahan in the final match to give the Europeans the needed 14 ½ points for them to regain the cup.

The Americans were trying to win the Ryder Cup for the first time on foreign soil since 1993. And they almost did. On the 16th hole, McDowell sank a slick downhill putt to go 2-up in his match with Mahan. At this point, the cup hung in the balance, with the score tied at 13 ½ to 13 ½.

The 35,000 fans on hand for the rain-delayed competition at Celtic Manor in Wales went ballistic. The huge gallery swarmed the fairways and greens and the European players and sprayed them with champagne, tossing out shirts and caps and memorabilia.

For more: Europe Wins Ryder Cup - Cybergolf

Banking Industry: Swiss Large Banks To Face Tougher Capital Ratios Than Basel 3

Credit Suisse and UBS should boost their capital in common equity to 10% by 2019, a stiffer requirement than the one contained in the Basel III accord announced last month, an expert panel appointed by the Swiss government proposed Monday.

Tougher capital standards than foreseen in the new Basel III regulation are aimed at addressing the too-big-to-fail problem that has been a particular concern for Switzerland with its two outsized banking giants. International Basel III rules will require banks to hold 7% of capital in common equity.

Under the new proposal for Swiss banks, systemically relevant Swiss institutions would have to boost their total capital to 19% of their assets, weighted according to risk. This compares with 10.5% required under Basel III.

For more: Swiss Large Banks To Face Tougher Capital Ratios Than Basel 3 | iMarketNews.com

Facebook matters more than your company website - by David Clarke

In this era of social media supremacy, it's imperative for a business to maximize its social media presence by focusing on designing and developing a Facebook page that clearly communicates the company's brand messaging.

A well-designed Facebook page may be the key to increasing your brand awareness, driving traffic to your company's website and engendering your customers' loyalty.
For the five reasons to consider Facebook first and a company website second click on the link below.

For more: Facebook matters more than your company website - Business Monday - MiamiHerald.com

The Rise of Europe's Right-Wing Populists - by MARKUS DEGGERICH, MANFRED ERTEL, JULIANE VON MITTELSTAEDT, MATHIEU VON ROHR, HANS-JÜRG

When the current French president, Nicolas Sarkozy, began his campaign in 2007, it was difficult to distinguish some of his rhetoric from Le Pen's. For example, he suggested that people who "slaughter sheep in their bathtubs" were unwelcome in France, and he won the election because he brought together votes from the right. Now Sarkozy will probably soon be confronted with a new National Front, a toned-down -- but perhaps more dangerous -- version of its former self. Marine Le Pen, the daughter of the party's founder, will campaign for the party's chairmanship in January and intends to create a party that could also appeal to the political center.

The transformation of the National Front is only one example of the new anti-Islamic mainstream among Western Europe's right-wing populist parties. This is the issue that unites all of these parties throughout Europe, which have even taken to borrowing each other's marketing ideas. For example, the Freedom Party of Austria (FPÖ) copied a game from the website of Swiss People's Party (SVP), in which players shoot at minarets popping up in their familiar landscape.

It is the shared concept of Islam as the enemy that now makes them ideological allies. Still, it is unlikely that these parties will continue to cooperate across borders in the future, despite Wilders' dream of spearheading such a movement throughout Europe. The "International Freedom Alliance" he established in July has two goals: to "defend freedom" and "stop Islam." In a video which is currently the only content on the alliance's website, Wilders says that he wants to pool the existing forces against Islam, in Germany, France, Britain, Canada and the United States.

For more: Continent of Fear: The Rise of Europe's Right-Wing Populists - SPIEGEL ONLINE - News - International

Wilders trial tests new coalition - by Stanley Pignal

Geert Wilders, the anti-Islam politician and silent partner in the new Dutch government, is due in court this Monday to face charges of incitement to racial hatred, in a trial that will further strain the consensual style of Dutch politics.

The case comes as the Netherlands prepares for its first stable government since February after members of the Christian Democrat party approved a coalition agreement with the VVD Liberal party and Mr Wilders’ PVV at a divided party congress on Saturday. Though the far-right PVV will not receive any cabinet seats, it has agreed to support the new minority government in exchange for concessions on immigration, including a planned ban on the full Islamic veil announced last week.

The 47-year-old bleached-blond Mr Wilders is answering charges relating to his claims in a 2007 newspaper column that the Koran is “fascist”, and for encouraging Muslims to tear out pages of their holy book in a 2008 film. “Geert Wilders is convinced he has said nothing that is reprehensible,” Bram Moszkowicz, his lawyer, said.

For more: FT.com / Europe - Wilders trial tests new coalition

Golf: Ryder Cup 2010: Inspired Europe leading US 9.5 to 6.5 have victory in their sights

"I have always said it takes 12 to try to win a Ryder Cup. And all 12 on that course today performed brilliantly," he said. "And in my time, and it's been, what, 20 years since I first started playing in the Ryder Cup, I truly believe that was one of the greatest days for European golf that we have had. To turn a two-point deficit into a three-point lead was quite amazing today."

For more: Ryder Cup 2010: Inspired Europe have victory in their sights | Sport | The Guardian

Terror Warning In Europe? U.S. Weighs Travel Alert For Tourists Abroad

The Obama administration is considering telling U.S. citizens to be vigilant as they travel in Europe, updated guidance prompted by fresh al-Qaida threats, American and European officials told The Associated Press on Saturday.

Such a move could have negative implications for European tourism if travelers fear there's a possibility of terror attacks.

The State Department may issue a travel alert as early as Sunday advising Americans to stay vigilant as they travel through Europe because of fresh threat information.


For more: Terror Warning In Europe? U.S. Weighs Travel Alert For Tourists Abroad

Alternative energy: Obama touts clean energy push, criticizes Republicans - by Gerald Helguero

President Barack Obama criticized the Republican party's pledge for the upcoming election to eliminate clean energy development incentives, saying that doing so would cause job losses.

In his weekly radio and Internet address, Obama touted his Administration's promotion of clean energy technology as a means to create hundreds of thousands of American jobs by 2012. He said the Republican pledge doesn't make sense

For more: Obama touts clean energy push, criticizes Republicans - International Business Times

Taxes, Income Tax, Tax Rates around the world

For a table of Tax rates around the world click on the link below.

For more: Taxes, Income Tax, Tax Rates, Tax updates Business News, Economy

Dutch far-right leader Wilders draws protest in Germany

More than 100 people demonstrated outside a Berlin hotel against the presence of Dutch anti-Islam politician Geert Wilders, who was in the country to give a speech, police said.

Wilders, who is due to stand trial in the Netherlands on Monday for inciting hatred against Muslims, was invited to give a speech at the Hotel Berlin in the German capital by a right-wing German politician.
A spokesman for Berlin's police said more than 100 people attended the protest organised by the Social Democrats and an association opposed to extreme-right politics, which passed off peacefully.

Protestors, outnumbered by around 250 police, brandished photos of the shock-blond Wilders that portrayed him with a moustache similar to that worn by Adolf Hitler. More than 100 people demonstrated outside a Berlin hotel against the presence of Dutch anti-Islam politician Geert Wilders, who was in the country to give a speech, police said.

Wilders, who is due to stand trial in the Netherlands on Monday for inciting hatred against Muslims, was invited to give a speech at the Hotel Berlin in the German capital by a right-wing German politician.
A spokesman for Berlin's police said more than 100 people attended the protest organised by the Social Democrats and an association opposed to extreme-right politics, which passed off peacefully. Protestors, outnumbered by around 250 police, brandished photos of the shock-blond Wilders that portrayed him with a moustache similar to that worn by Adolf Hitler.

For more: Dutch far-right leader Wilders draws protest in Germany < Dutch news | Expatica The Netherlands

EU 'must spend €1 trillion' on electricity grid - by Jennifer Rankin

The European Union must spend €1 trillion by 2020 on upgrading the electricity grid system if it is to meet its climate-change goals, according to a leaked report from the European Commission.

This is the first estimate from the Commission on how much spending on grid and infrastructure is needed if the EU is to stay on track to get 20% of its energy from renewable sources by 2020.

For more: EU 'must spend €1 trillion' on electricity grid | European Voice

Aircraft Industry: Turkish Air Contemplating Double Decker Aircraft Purchase

Turkish Airways Europe's fourth largest carrier does not have enough aeroplanes to meet its expansion plans, the airline's Chairman Hamdi Topcu told the Star Newspaper last week. To determine the next course of action, the airline is conducting feasibility studies on double-deck aircraft, including the Airbus A380 and soon-to-be-released Boeing 747-8.

Turkish Airlines currently has a fleet of 142 aeroplanes. The 2011 target is 184. So far, an order for 89 planes has been placed, including 24 wide body aircraft designed for long-haul flights.
Turkish Airlines is a member of Star Alliance and offers UK travellers direct flights to Istanbul.

For more: Turkish Air Contemplating Double Decker Aircraft Purchase - Just the Flight Travel News

Netherlands: Maxime Verhagen, diplomatic, screwed and political strategist could very well become Wilders worst nightmare

Maxime Verhagen, appointed new parliamentary leader of the Christian Democratic Party (CDA), following the worst defeat the party had ever suffered  in Dutch general elections, reducing the CDA party in the country from no 1 to 4th, is a man to be reckoned with..

People who know Verhagen well say this diplomatic, screwed and clever Verhagen could very well become the worst nightmare for Geert Wilders in the new Dutch minority coalition

Verhagen was born in Maastricht. on September 14, 1956. He studied at Leiden University where he obtained an M.A. in history in 1986. For a brief period during his college years, Verhagen affiliated both with leftish-radicalism and the liberal People's Party for Freedom and Democracy (VVD). He joined the CDA in 1976. So far during his career he occupied several local and national government positions and was the minister of foreign affairs in the last Balkenende Government

Today around 4,500 party members gathered in Arnhem to decide whether to accept the governing agreements drawn up by CDA leader Maxime Verhagen for this minority coalition with the conservative VVD supported in parliament by Geert Wilders' anti-Islam Freedom Party (PVV). Two agreements were negotiated. One is the coalition agreement between the VVD and the CDA and the other sets out the terms under which the PVV will support the coalition.

This particular CDA congress, which made it possible for the membership to speak out and vote on the validity of the agreements, already can be seen as a democratic bonus point for the CDA and the public at large, in comparison with Geert Wilders "one man show",  full of  populist, nationalistic, anti-religious "sound-bites", without any substance.  While the CDA congress was going on in Arnhem, Wilders was in Berlin where he was invited by former Berlin Christian Democratic Union member René Stadkewitz, who is engaged in forming his own party, Die Freiheit (Freedom). Geert Wilders has been the main inspiration of the German project says René Stadkewitz and was a guest speaker.

During the CDA Arnhem Congress many prominent Christian Democrats and party members argued against any form of cooperation with the Wilders Freedom Party. Among the dissidents, two former prime ministers, and past and present cabinet ministers. When as expected the party comes out in favor of the political deal today, some party members and officials are warning that the remaining strong opposition within the CDA could immediately threaten the stability of the new government which, including the support of Wilders his party, only has a majority of just one seat in parliament.

Contrary, however, to the belief of many political in-and-outsiders, and comments in the Dutch press, this might not be the case.

The  new coalition not only turns Geert Wilders into a "king maker", but also makes Maxime Verhagen a "power player" to be reckoned with. Verhagen, who represents the smallest party within this three party  "political marriage of convenience", can now not only publicly expose the PVV of  Geert Wilders as an unreliable partner, but also put pressure on the inexperienced Mark Rutte and his VVD to comply with some of the wishes of the CDA. If he plays the game right Verhagen could even pull his party the CDA out of the slump they are in now, and make them shine again in the next election.

The most important question, however,  that remains in this scenario, and that time can only tell will be,  whom of the three partners will be the one who eventually steps out of this new political "marriage of convenience" first and becomes the big winner in the next Dutch national election?  Don't be surprised if it turns out to be the CDA of Maxime Verhagen.

EU-Digest

Sarkozy to propose security and economic treaty between the EU and Russia

President Nicolas Sarkozy is set to propose a new security and economic relationship between Europe and Russia during his meeting with the Russian President along with German Chancellor Angela Merkel in Deauville this month. The president aims to bring Russia closer to EU to form a single zone of security and economic cooperation, according to some officials. Sarkozy believes the relationship will be apart from the North Atlantic Treaty Organization.

France will take over the presidency of the Group of 20 in November during which Mr. Sarkozy plans some initiative that aims to transform the group to a platform for major economies to focus on long term coordination. The president has been carrying out discussions with the officials in China about issue relating to exchange rate. Mr. Sarkozy plans a new monetary system for the world including a new body to monitor movement of currencies.

American officials are skeptical over plans to discuss the security issues with Russia without the presence of the US. They say they will oppose any move to dilute the importance of NATO however will bring Russia closer to the alliance.

For more: Sarkozy to propose security and economic between Europe and Russia | French Tribune

Golf: Rain wreaks havoc at Ryder Cup; USA leads in two matches - by Steve DiMeglio

Rain showers, cool weather and strong winds wreaked havoc on Friday's opening day of the 38th Ryder Cup at Celtic Manor. So much so that Mother Nature's dark side has forced a change in the schedule.

A suspension of play lasting more than seven hours at the waterlogged Twenty Ten Course in the Usk Valley forced Ryder Cup officials from both sides of the Atlantic Ocean to consider a variety of options to ensure completion of the match-play competition between the USA and Europe.

For more : Rain wreaks havoc at Ryder Cup; USA leads in two matches - USATODAY.com

Europe's shrinking public sector - by Gavin Hewitt

It has been another bad week for Europe's public sector. Portugal announced it would cut civil servants' wages by 5%.

The Republic of Ireland has put a figure on the giant black hole in its banking sector and the public sector unions know that further cuts are on the way, when the budget is delivered in December. The Irish Finance Minister, Brian Lenihan, did not pull his punches: "a fundamental reappraisal of the public sector will have to take place".

In the UK unions are holding their breath for the spending review on 20 October.
Most of the cuts are not made from conviction that a smaller public sector would be beneficial; they are driven by necessity, the necessity to reduce budget deficits. Some like the Tea Party in the United States argue for smaller government. You don't hear much of that in Europe.

Note EU-Digest: the new Dutch government which is in its final stages of formation announced it would be cutting approximately 20% of the Dutch civil service force.



For more: BBC - Gavin Hewitt's Europe: Europe's shrinking public sector

Euro tops $1.37 for 1st time since March

The euro hit a six-month high against the dollar on Friday, climbing above $1.37 for the first time since March after upbeat data from China offered cheer on prospects for the global economy.

The dollar rose as high as $1.3763 before slipping back to $1.3728 in midday European trading. That was well clear of the previous five-month high of $1.3683 that it hit on Thursday.

A survey Friday showed that growth in Chinese manufacturing picked up pace in September, adding to evidence that the country's economic recovery remains on track.

For more: Euro tops $1.37 for 1st time since March - BusinessWeek