Tuesday, 23 September 2008

Blogs : 23rd September

It's a Conspiracy! (part II) Open Europe Blog (en)
Soviet grocery stores: how it was. Vitaliy, The 8th Circle
Blonde on blonde: State elections in Bavaria. Douglas Muir, A Fistful of Euros (en)
Forza Flandria ! Jean Quatremer, Les Coulisses de Bruxelles (en)
User Expectations of Government start outside Government. en.europa-eu-audience (en)
If the market doesn’t work, cap prices? Jon Worth, Euroblog (en)
Hansjoerg Haber leading EU mission in Georgia. Julien Frisch, Watching Europe (en)

"The Government Accountability Office (GAO) has released today a report on the candidate states Croatia and Albania..."

US military ties to the Lisbon 'no' camp?. Certain Ideas of Europe (en)
" ... Hans-Gert Poettering, president of the European Parliament, is demanding a probe into Libertas, its founder Declan Ganley and the American military. Mr Poettering said he and his colleagues have "huge concerns" about Libertas, its fund-raising and future plans ..."

The finger-pointing begins. Certain Ideas Of Europe (en)
" ... Gordon Brown, who is fighting for his own political life at a party conference this week, is among those stepping up calls for more coordinated international regulation of financial markets. The prime minister's calls ring hollow for many, though, since he was chancellor during Britain's go-go financial era, when "light-touch regulation" transformed London into a global financial centre to rival New York. It all apparently sounds rather belated to many on the continent."

The instrument of destruction. Richard, EUReferendum (en)
" ... One prediction we are prepared to make, however, is that one of the most vital issues to the health and prosperity of this country – the fate of our agricultural industry – will not be discussed at the Labour Party conference nor at next week's Tory bash...."

Between a rock and a hard place. Richard, EUReferendum (en)
" .. The recent economic downturn could push the EU to adopt more modest ambitions in its fight against climate change, reports EU Business - an issue we reported on last week ..."

Cowards of Congress and Foreign Central Bankers threaten Paulson's plans. Irony Too (en) 23rd September
"... the best analysis I have found follow this link to Resource Investor, here ...
... The key problem on this side of the Atlantic is that the largest European banks have become not only too big to fail but also too big to be saved. For example, the total liabilities of Deutsche Bank (leverage ratio over 50!) amount to around 2,000 billion euro, (more than Fannie Mai) or over 80 % of the GDP of Germany. This is simply too much for the Bundesbank or even the German state to contemplate, given that the German budget is bound by the rules of the Stability pact and the German government cannot order (unlike the U.S. Treasury) its central bank to issue more currency. The total liabilities of Barclays of around 1,300 billion pounds (leverage ratio over 60!) surpasses Britain’s GDP. Fortis bank, which has been in the news recently, has a leverage ratio of "only" 33, but its liabilities are several times larger than the GDP of its home country (Belgium) ..."
"...The authorities in the UK and Switzerland –- who cannot rely on the ECB – can only pray that no accident happens to the giants they have in their own garden."

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