EU-Digest: Privacy is a human right: US and EU Privacy Laws Differ Greatly - EU must not buckle under pressures to follow US laws

EU-Digest report on EU privacy laws

Privacy is a human right: US and EU Privacy Laws Differ Greatly - EU must not buckle under pressures to follow US laws

In reference to a court case between the aging French Literary personality Dumas and a photographer, who had sold "risky" pictures he took of Dumas and his 32 year old Texas actress girlfriend Adah Isaacs Menken, Yale law professor James Whitman wrote in a paper titled “The Two Western Cultures of Privacy: Dignity versus Liberty, “One’s privacy, like other aspects of one’s honor, are not a market commodity that could simply be definitively sold.” In the Dumas case the French court had decided that posing for the photographs did not mean Dumas and Menken had surrendered their rights to privacy and dignity, even if they consented to do just that during a heady romantic moment. These rights trumped any commercial property rights the photographer might have claimed, the court said. It was a ruling which would certainly not have been given in an American court.

EU privacy laws are very different from those in America and some of the European rulings might seem like a dream for those Americans who believe their privacy is slowly eroding.

Some of the differences between US and EU privacy include:

* Personal information cannot be collected without consumers’ permission, and they have the right to review the data and correct inaccuracies.
* Companies that process data must register their activities with the government.
* Employers cannot read employees’ private e-mail.
* Personal information cannot be shared by companies or across borders without express permission from the data subject.
* Checkout clerks cannot ask for shoppers’ phone numbers.

Those rights, and many others, stem from The European Union Directive on Data Protection of 1995, which mandated that each EU nation pass a national privacy law and create a Data Protection Authority to protect citizens' privacy and investigate attacks on it.

National European laws also come in a variety of forms based on varied traditions. But taken together, they are the backbone of a basic European principle: Privacy is a human right. European citizens should make sure this right never gets watered down by outside or internal pressures.

globeandmail.com: France's point man on poverty fights to tax the rich - by Susan Sachs

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France's point man on poverty fights to tax the rich - by Susan Sachs

At a time when some politicians here are calling for lower taxes and a growing number of working families are sliding into poverty, a French Robin Hood has appeared on the scene. Martin Hirsch, a long-time social activist and former president of France's biggest private charity, is fighting to tax the rich to pay the poor.It is a battle that many of Mr. Hirsch's sympathizers thought was not winnable under a right-wing government, and it might seem even more so with bank bailouts and stock market volatility grabbing headlines. But Mr. Hirsch, working from inside the system as President Nicolas Sarkozy's point man on poverty, appears to be close to pulling off the most costly French aid program in years

EurActiv.com - EU opens the door to Iceland

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EU opens the door to Iceland

Iceland could "quickly" join the EU if it decided to apply for membership, the bloc's Enlargement Commissioner Olli Rehn said yesterday (20 October 2008), as the country reconsiders its opposition to accession in view of the financial crisis, which has brought the island to the brink of bankruptcy.

"Iceland is clearly a democratic European country," which has "already negotiated perhaps two-thirds" of the criteria needed to join the current 27-nation bloc, Rehn told AFP. "This means that were Iceland to pose its candidature, we could quickly complete the negotiations," he said. Iceland was an early member of the European Free Trade Area (EFTA) and through 1994's European Economic Agreement (EEA) applies most of the bloc's single market legislation, with the notable exceptions of agriculture and fisheries. The EEA also allows Iceland to participate - albeit with no voting rights - in a number of EU agencies and programs, covering enterprise, environment, education and research. Furthermore, Iceland is also an associated member of the Schengen zone, providing for passport-free travel within most EU countries and Norway.

ISTOCKANALYST: The Fraudacity Of American Finance - by Karl Denninger

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The Fraudacity of American Finance - by Karl Denninger

John Mack yesterday in a CNBC interview said that the capital deployed by Treasury into the banks was going to rebuild their capital ratios - not be lent out. In other words, they intend to hoard it. This means, bluntly, that not one nickel of benefit will be seen by Main Street, despite claims by Paulson, Bush and others that this bailout is necessary for "Main Street, not Wall Street." Where is the accountability? CNBC's Fast Money finally started talking about the outright fraud and lies last night. Dylan Ratigan was absolutely on fire about the fact that Paulson was in fact one of the executives lobbying hard for removal of leverage limits in 2004, just two years before he took the position at Treasury (and cashed out $500 million in Goldman Sachs stock tax free.)

Bloomberg.com: US economy - October's index will plunge,'' said Ian Shepherdson, chief U.S. economist - by Timothy R.Homan

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US economy - October's index will plunge,'' said Ian Shepherdson, chief U.S. economist - by Timothy R.Homan

``October's index will plunge,'' said Ian Shepherdson, chief U.S. economist at High Frequency Economics Ltd. in Valhalla, New York, who correctly forecast the gain. The index ``is consistent with recession, and it has not hit bottom yet.''The leading index was forecast to decline 0.1 percent, according to the median of 53 economists in a Bloomberg News survey. Estimates ranged from a drop of 0.6 percent to a gain of 0.5 percent. Bernanke, broke with the Bush Administration, and endorsed consideration of a second fiscal stimulus package. The housing slump is showing no indication of abating.

Building permits, a sign of future construction, dropped 8.3 percent in September, matching the lowest level since 1981, and single-family home starts fell to a 26-year low, the Commerce Department reported last week. The U.S. has lost 760,000 jobs so far this year, and the jobless rate held at a five-year high of 6.1 percent in September. More job cuts are on the way

EU-Digest: Airlines scamming passengers on fuel surcharges: Surcharges paying the bulk of airline fuel bills

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Airlines scamming passengers on fuel surcharges: Surcharges paying the bulk of airline fuel bills

The cost of jet fuel for a transatlantic flight on British Airways can now be paid by the airline company almost completely by surcharges that are levied on passengers, according to a recent report. Beginning in May, BA added fuel surcharges to its ticket prices, with passengers paying from euro 100 to 130 additional on long-haul services of less than nine hours’ duration. These charges bring in euro 14.000 to the carrier on a 224-seat Boeing 777 London-New York flight. The same is true for flights on Virgin Atlantic. For some time, airlines have complained about the cost of fuel. Manufacturer testing shows that a Boeing 777 carrying 305 passengers typically requires 44 tons of fuel on a London-New York run. The estimate includes cargo and luggage in the calculation. At current oil prices of euro 600.85 a ton, the cost to the carrier would be euro 15.021.00, which would be nearly covered by fuel surcharges. Only very few airline companies reduced the fuel charges as fuel cost dropped dramatically during the past two months.

Many other airlines including KLM/Airfrance are involved in this "extra fuel surcharges" scam and several consumer organizations are not only looking into these charges, but are also planning to take legal action. In the meantime the European Parliament has been requested by representatives of European political parties to look into the matter. It was disclosed on Dutch TV this evening that there is also no transparency as to how these surcharges are calculated by the airline companies.

Christian Science Monitor: Russia - Crisis spares Russia's 'average Joe - by Fred Weir

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Russia - Crisis spares Russia's 'average Joe - by Fred Weir

While many Americans are watching as their pensions crash with the markets, across Russia it's a different story. Though their stock market crash has been longer and deeper than in almost any other country, most Russians remain relatively unaffected. Meanwhile, Russia's wealthiest man, aluminum king Oleg Deripaska, has reportedly lost $16 billion over the past month.While Russian industrial barons are falling like kingpins, the government has maintained a budget surplus thanks to oil revenues and sovereign debts paid off by former President Vladimir Putin. Additionally, the general population has also been largely protected due to outmoded financial practices and social beliefs that kept pensions separate from the stock market. The varied effects of the market crisis are likely to alter the underpinnings of Russian society, say many Russian economic analysts. "The Russian economy will survive this crisis, but will emerge greatly changed," says Olga Kryshtanovskaya, director of the independent Institute of Applied Politics.

The Earth Times: Russia should join EU, Berlusconi says

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Russia should join EU, Berlusconi says

Russia should be allowed to join the European Union in the coming years, Italian Prime Minister Silvio Berlusconi said Wednesday. "I consider Russia to be a Western nation. So my project is that the Russian Federation should become a member of the EU in the coming years," Berlusconi told Italian reporters on the sidelines of an EU summit in Brussels.Asked whether the time had come for the EU to normalize its relations with Moscow, Berlusconi said: "I would go beyond that." Berlusconi has frequently touted his close friendship with Russian Prime Minister Vladimir Putin, and Putin's two daughters have been spotted in the past spending their summer holidays at Berlusconi's villa in Sardinia.

Turkish Press: Netherlands Conference Held At Turkish Foreign Ministry

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Netherlands Conference Held At Turkish Foreign Ministry

Turkish Foreign Minister Ali Babacan has said that the Netherlands was a powerful partner of Turkey, and they aimed at further intensifying and deepening the bilateral relations with that country in all areas. Babacan attended the Second Turkey-Netherlands Conference at the Turkish Ministry of Foreign Affairs together with his Dutch counterpart Maxime Verhagen who is currently in Ankara on a formal visit. Speaking at the conference, Babacan said that the Netherlands was one of the countries making the most investments in Turkey. Our bilateral trade has been rapidly growing, he said. "More than 400 thousand people of Turkish descent live in the Netherlands. We expect number of Dutch tourists spending their holidays in Turkey to exceed 1 million by the end of this year. Relations between Turkish and Dutch peoples constitute an important part of the relations between the two countries," Babacan said.

Dutch Foreign Minister Verhagen, in his part, expressed his profound sorrow over killing of Turkish police officers in Wednesday`s terrorist attack in Diyarbakir. Referring to the bilateral relations, Verhagen said that the 400th anniversary of establishment of diplomatic relations between Turkey and the Netherlands would be celebrated in 2012. Verhagen said that Turkey was the fourth biggest commercial partner of the Netherlands.

Businessweek: Turkey: Wake Up to Rising Economic Risks - by Wolfango Piccoli

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Turkey:Wake Up to Rising Economic Risks - by Wolfango Piccoli

Despite its large parliamentary majority and past pragmatism, the government led by Turkey's Justice & Development (AKP) party has remained essentially idle as the country faces the dual challenges of a slowing domestic economy and a global credit crunch. A risky sense of overconfidence and lack of focus on economic issues seems to prevail among policymakers. The Turkish banking sector appears relatively shielded from global liquidity problems. This is mainly thanks to reforms introduced after a 2001 banking crisis, including the creation of a bank regulatory and supervision agency and strengthened requirements for risk management, internal control, and auditing. Regulators say the banking system at the end of July had a healthy capital adequacy ratio of about 17% overall, while the loans-to-deposit ratio was 86.8%.

However, there are still risks to watch for. Foreign exchange liabilities of Turkish corporations to local banks had reached $39.42 billion as of March 2008. Local banks' gross debt to banks abroad stood at about $45 billion at the end of the first quarter. Credit-card default risk is another worry. Individual consumer credit-card debt is $26.9 billion, and the default rate is around 6.3%.

Henley Standard - Britain - Real Estate: Agents warn housing market meltdown is global

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Real Estate: Agents warn housing market meltdown is global

Whilst the banking system remains in turmoil, the effect on the housing market, both global and local, is becoming more and more marked. According to a survey from the Royal Institution of Chartered Surveyors (RICS), estate agents sold, on average, under one property per week each in September, and the number of properties sold across the UK is the lowest since the RICS surveys began in 1978. Sales are 52 per cent lower than in September last year. London had the fewest sales per estate agent, with an average of just eight in the previous three months. Nationwide, 91 per cent of estate agents saw prices fall over the preceding three months.

The Guardian: Black cloud over EU climate change deal

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Black cloud over EU climate change deal

The emerging pressure from different member states to scale back EU climate policy in the face of economic downturn is a major blow, both to the environment and to the EU economy (Europe's leaders struggle to stop emissions package unravelling, October 17). The French presidency appears to be driving for an agreement based on the lowest common denominator, effectively giving every member state the possibility to beg for special treatment. The aim is clearly to bully the European parliament into accepting an agreement at any cost. The parliament must not and will not succumb. This a la carte approach would rip all substance out of the package, leaving the EU with an empty shell of legislation which makes a mockery of its supposed "global leadership".

Note EU-Digest: The EU parliament should not buckle under the pressure of some states which have outdated equipment environmentally unsafe production facilities like Poland. The alternative energy lobby in Bruxelles, including the windmill and solar sector also have to stir up their opposition, because any weakening of the proposed climate policy regulations would also effect the alternative energy sector, which is becoming more and more profitable.

Upside Down World - Christianity Latin America: Pentecostalism and South America's Social Movements - by Raúl Zibechi

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"Pentecostalism is the largest self-organized movement of urban poor in the world," according to the U.S. urban specialist Mike Davis. His opinions on this religious movement tend to be rejected outright by many leftist intellectuals. However, Davis is convinced that "many people on the left have made the mistake of assuming that Pentecostalism is a reactionary force—and it's not." "Pentecostals not only get many people away from alcohol, but also occasionally get them to give up drug trafficking and delinquency. And they do it without pressure. However, Pentecostals are also a social and political force, not just religious. In an historical irony, the largest left party on the Latin American continent, the Workers Party (PT), created by the Catholic Church and other entities, came into power with a Pentecostal vice president, José Alencar.

The vice president's Brazilian Republican Party (PRB), created in 2005 and linked to the Universal Church, is the fastest growing political force in the country. The Universal Church of the Kingdom of God to which he belongs controls 70 television and 50-plus radio stations, a bank, several newspapers, and has 3,500 temples. Its Record TV Network vies for the largest audience against the legendary Globo Network and earns a billion dollars a year.

"It's a question of giving people alternatives and hopes for a better future". Of the 550 total legislative representatives in Brazil, 61 are Pentecostals, and 91 call themselves militant Catholics. "Anyone living in the urban peripheries of today's Brazil, can confirm that this is an important phenomenon. Many participants in the Homeless Workers Movement are also members of the local Pentecostal church. We cannot forget that religion played an important role in the formation of our left," says Marco Fernandes, an historian and social psychologist who participates in the Homeless Workers Movement (Movimento dos Trabalhadores Sem Teto, MTST).

Science and Technology:EU - Consortium Plans World's Largest Wind Farm in UK - Michael Graham Richard

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Consortium Plans World's Largest Wind Farm in UK - by Michael Graham Richard

A joint venture between Shell, E.On UK and Core Limited has for goal to build an offshore wind farm off the South-East coast of England. The power generation potential would be of 1,000 megawatts, making it the biggest in the world and allowing it to power about 25% of London, which would cut emissions of carbon dioxide (the main greenhouse gas) by 1.9 million tonnes a year. Currently, "the world's biggest offshore wind farm that's already in operation is Denmark's Nysted windfarm, which can produce 165 megawatts."

EcoWorldly: The Woman Steering Denmark’s Alternative Energy Success : by Gavin Hudson

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The Woman Steering Denmark’s Alternative Energy Success : by Gavin Hudson

Since 2007, Connie Hedegaard has been behind Denmark’s energy successes. In April, she signed an action plan with India on renewable energy. One notable achievement was her role in introducing Denmark’s Energy Policy 2008-2011. The policy made her country the first in the world to commit to an overall energy reduction, not just a reduction in greenhouse gas emissions. It includes the following language.Denmark is an exemplar of successful sustainable energy policy. Today, around 20% of Denmark’s energy is supplied by wind power. Not only is the country energy independent, its energy consumption hasn’t risen since the ’70s, despite 50% economic growth, according to Flemming Hansen, former Minister of Transport and Energy.

Boston Globe: USA Alteranative energy: Block Island embracing offshore wind farm plan - by Bina Venkataraman

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USA Alteranative energy: Block Island embracing offshore wind farm plan - by Bina Venkataraman

The wind whips an American flag towering over the palatial lawn that carpets this hilltop. A gust topples a paper coffee cup, half-full, onto a Victorian patio chair on the veranda of the island's oldest hotel. "If we did have wind turbines, they would be smokin'," said Dave Houseman, general manager of the 19th-century Spring House Hotel, looking out at the breakers below. "Chances are you wouldn't even see them. But I think if you did, it's something you could get used to." His remark reflects a widely held sentiment here since a developer recently proposed erecting a $1.5 billion wind farm in the waters off this isolated island. The company has proposed building more than 100 turbines, each one up to 240 feet tall.

The Australian: The wind shifts for renewable energy - by Tom Wright

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The wind shifts for renewable energy - by Tom Wright

The prospects of renewable-energy companies soared with oil prices, but the global credit crunch and the easing of energy costs have brought them back to earth with a thud. Stronger players, such as Iberdrola of Spain, are buying wind farms from cash-strapped rivals. With banks reluctant to lend and their stock prices tumbling, many green-energy concerns are struggling to find the long-term funding they need to expand in a capital-intensive industry. In the past three months, global renewable-energy stocks tracked by New Energy Finance, a London-based consultancy, have dropped about 45 per cent, compared with a 23 per cent decline in the Dow Jones Industrial Average over the same period. The sector's problems have been compounded by the skid in oil prices to below $US70 a barrel last week from more than $US147 in July. The sudden reversal in crude prices has removed -- at least temporarily -- a key rationale for investors to pump billions of dollars into alternative fuels, industry analysts say.

The result: At least in the short term, a slew of projects from palm-oil-based biodiesel plants in Indonesia and Malaysia to wind farms and solar projects across the U.S. and Europe may not be able to get funding.

Bloomberg.com/EU-Digest: Krugman Proves Keynesianism Isn't Dead After All - by William Pesek

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Krugman Proves Keynesianism Isn't Dead After All - by William Pesek

Krugman, 55, didn't get the Nobel for his work on Japan's lost decade, but for ``analysis of trade patterns and locations of economic activity.'' The Princeton University professor and New York Times columnist is among President George W. Bush's most prominent critics. Coming less than a month before an election, the award left some economists wondering if the Nobel committee was playing politics. Krugman's work is getting considerable attention in Asia, and for good reason. His reputation in this region was made in the mid-1990s when he was among the most consistent predictors of the 1997 Asian crisis. A couple of years later, Krugman correctly opined that Asia would stage an impressive comeback. Far from it. At the rate the U.S. is socializing its financial system, it seems only a matter of time before airlines, automakers and major retailers find their way onto the government's balance sheet. It would be the ultimate irony if the U.S. had to bail out Wal-Mart Stores Inc. with borrowed Chinese money so that it can support all those Chinese factory workers. Globalization is bringing the world full circle -- from state-owned companies to privatization to the re-nationalization of those enterprises. It's no wonder Venezuelan President Hugo Chavez is referring to the U.S. leader as ``Comrade Bush'' and saying ``now Bush is to the left of even me.''

Note EU-Digest: What could probably immediately stimulate the US economy is for the Government to advice those banks which received bailout money to earmark some of that liquidity to provide credit card holders in the US a one year moratorium on their credit card payments. Total US consumer debt (which includes installment debt, but not mortgage debt) reached $2.46 Trillion in June 2007, up from $2.398 Trillion at the end of 2006 (Source: Federal Reserve). Total US consumer revolving debt reached $904 Billion in June 2007, up from $879 billion at the end of 2006 (Source: Federal Reserve) The median U.S. household income is currently $43,200 and the typical family's credit card balance is now almost 5 percent of their annual income. (Source: Federal Reserve) Of the households that do owe money on credit cards, the median balance was $2,200 -- meaning half owe more, half less. (Source: MSN Money)National credit card debt in the US per credit card borrower increased 8.6 percent to $1,717 in the second quarter of 2008, compared to the same period 2007, according to a study by TransUnion.

Times Online: Europe and US wrestle for control of global markets - by Tom Baldwin

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Europe and US wrestle for control of global markets - by Tom Baldwin

A weekend meeting at Camp David with President Sarkozy of France and José Manuel Barroso, the European Commission President, produced a joint statement promising to hold “a series of summits on addressing the challenges facing the global economy”. The first will be held soon after the US elections on November 4, when Mr Bush will still be President. He hopes to put his stamp on policies that will largely be implemented by either Barack Obama or John McCain after one of them is inaugurated on January 20. Mr Bush said: “As we make the regulatory institutional changes necessary to avoid a repeat of this crisis, it is essential that we preserve the foundations of democratic capitalism — commitment to free markets, free enterprise and free trade. “We must resist the dangerous temptation of economic isolationism and continue the policies of open markets that have lifted standards of living and helped millions of people escape poverty around the world.”

Mr Sarkozy, who holds the rotating presidency of the European Union, which has a tradition of deeper and stronger intervention in markets, advocates a new form of “regulated capitalism” because there is “no liberty without some regulation and stability”.

Al Jazeera - Oil producers set to cut output

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Oil producers set to cut output

The chief of the Organization of the Petroleum Exporting Countries (Opec) has said that there must be a "substantial" cut in output when the group meets in Vienna next week. "There will be a reduction in production at the next extraordinary meeting of Opec, and it will have to be a substantial one to get the balance right between supply and demand," Chakib Khelil, who is also Algeria's energy minister, said. "If it has to be 1.5 million barrels per day, or two million barrels per day, that's what it will be."