Europe
Scheme launches in UK to prompt lending
The Funding for Lending initiative, a new scheme to prompt banks and other lenders to make more money available to homeowners and businesses, has come into operation in the UK. The Bank of England will lend money at below-market rates to the aforementioned institutions, and will then monitor their progress in lending it out. Some mortgage lenders have already cut the costs of their long-term, fixed-rate deals, but the lower costs are so far only being offered to those able to give large deposits.
North America
Romney foreign tour concludes amid media spat
Republican Presidential candidate Mitt Romney has concluded a week-long overseas tour with a foreign policy speech in Warsaw, in which he praised Poland’s economy as a model of limited government and free enterprise. However, the tour ended on a sour note as Rick Gorka, Mr Romney’s press secretary, yesterday lost his temper with journalists from CNN, the New York Times and Washington Post. During a visit to Warsaw’s Tomb of the Unknown Soldier, the reporters badgered Mr Romney with questions about “mishaps” and “gaffes” on his trip, prompting Mr Gorka to snap “kiss my ass. This is a holy site for the Polish people.” The US media have been complaining that Mr Romney took only three press questions during the entirety of his six-day trip.
Latin America
Argentine Falklands war cemetery vandalised
The Argentine war cemetery in the Falklands, where more than 200 Argentine soldiers are buried, has been vandalised. The Falkland Islands government has condemned the action and police are investigating. The commission representing the relatives of Argentine casualties in the 1982 conflict has sent a note to the British ambassador in Buenos Aires, John Freeman, and Argentine Foreign Minister Hector Timerman, saying: “We believe this act reflects escalating hostility by certain British sectors who are influential locally.” The Argentine foreign ministry has issued a statement demanding an immediate and impartial investigation by the UK government, and called on Britain to “end its continuous display of arms, submarines and nuclear capabilities, in violation of international treaties.”
Venezuela joins Mercosur trade bloc
Six years after its initial application to the South American trading bloc,Venezuela has joined Mercosur. President Hugo Chavez went to Brazil for the induction ceremony in his first official trip abroad since his cancer diagnosis more than a year ago. Paraguayan congressmen had blocked Venezuela’s membership for years due to concerns over President Chavez’s democratic credentials, but with Paraguay’s temporary suspension from Mercosur in June over the impeachment of president Fernando Lugo, Venezuela’s membership has finally been approved. Mercosur members had agreed to suspend Paraguay after objecting to the fast-tracking of impeachment proceedings against President Lugo by the Paraguayan Congress. President Chavez said “we have waited for this day for many years. This is our path, it is our project, a South American union”.
Russia and Asia
Burmese government accused of persecuting Muslims by rights group
Government forces are continuing to persecute Muslims in Burma’s Rakhine state after failing to protect them during deadly clashes in June, says Human Rights Watch in a report. The report accuses security forces of killing and raping members of the Rohingya group and arresting hundreds of others. It is the second such report in a fortnight to draw attention to abuse in the state. The United Nations has sent an envoy to investigate the violence that has killed at least 78.
Philippines and Cambodia in South China Sea row
The Philippines have summoned Cambodia’s ambassador over comments linked to Manila’s territorial row with Beijing. Hos Sereythonh was asked to explain accusations, made in a letter to a Philippine newspaper, that the Philippines and Vietnam were playing “dirty politics” over the issue of overlapping territorial claims in the South China Sea, in which China is also involved. For the first time in its 45-year history, the 10-nation Asean bloc failed to issue a joint statement after a regular meeting due to tensions over the maritime disputes. Mr Hos’s comments accused the Philippines and Vietnam of attempts to “sabotage and hijack the joint communiqué”. Mr Hos did not respond to his summons, pleading illness.
Africa and Middle East
Barack Obama imposes new sanctions on Iran
Amid ongoing concern over Iran’s nuclear programme, US President Barack Obama has ordered new economic sanctions against Iran’s energy and petrochemicals sectors, and some financial firms. Tehran has been trying to avoid existing sanctions by diversifying the way it gets paid for sales of its oil, including by using gold and barter. President Obama’s executive order is designed to clamp down on this. It comes ahead of a vote by the US Congress on imposing even stricter sanctions, and after accusations by Republican presidential candidate Mitt Romney that the Obama administration is not doing enough to stop Iran’s nuclear programme. Tehran continues to deny the intention of its nuclear programme is to develop nuclear weapons.
Syria: Assad statement
In a written statement marking armed forces day, Syrian President Bashar al-Assad has said the current conflict between rebels and government forces will decide the fate of the nation. He praised government soldiers for confronting “armed terrorist gangs” and called them “heroic”. Activists estimate some 20,000 people have died in the conflict since March last year. Latest reports suggest fighting has spread within the capital Damascus to two Christian areas in the Old City.
About the Author
