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Bush Welcomes 'Bold' European Action to Stabilize Financial Markets
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US president discusses financial crisis with Italian prime minister at White
House
President Bush waves as he and Italian Prime Minister Silvio Berlusconi
conclude their joint statement in Rose Garden of White House, 13 Oct 2008U.S.
President George Bush has welcomed what he calls "bold action" by European
nations to help stabilize global financial markets.Mr. Bush discussed the
financial crisis with Italian Prime Minister Silvio Berlusconi at the White
House Monday. Italy and other European Union nations announced plans Sunday to
encourage banks to lend money and unfreeze credit markets.Mr. Berlusconi says
Mr. Bush intends to meet with other leaders from the Group of Eight rich
nations in the coming weeks for further talks on the global financial crisis.
The White House has not confirmed any plans for such a meeting.Mr. Berlusconi
received a warm welcome from President Bush at a ceremony Monday morning on the
White House South Lawn.Mr. Bush said he deeply appreciates the friendship and
wisdom of Mr. Berlusconi. Mr. Bush also noted Italy's support of emerging
democracies in Afghanistan, Iraq, Kosovo and Lebanon.Mr. Berlusconi called Mr.
Bush a man of great ideals and principles, and said it is important for the
United States and Europe to act together in the economic crisis.The Italian
leader will be the guest of honor at an official White House dinner Monday
evening.The White House says Mr. Bush is returning the hospitality he received
from Mr. Berlusconi and other Italian leaders on a visit to Rome in June.Mr.
Berlusconi has remained a strong supporter of Mr. Bush despite the U.S.
president's unpopularity in Italy and Italian public opposition to the Iraq war.
Some information for this report was provided by AFP and AP.
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World Bank President: Financial Crisis Will Hurt Poor Countries Most
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Robert Zoellick says as governments try to fix economic problems at home, they
must not forget commitments to help poor countries reach UN Millennium
Development Goals to reduce poverty
World Bank Group President Robert Zoellick listens as IMF Managing Director
Dominique Strauss-Kahn briefs reporters in Washington, 12 Oct 2008The World
Bank president says the global economic crisis could hurt poor people in
developing countries most severely. Robert Zoellick said in Washington Sunday
that as governments try to fix economic problems at home, they must not forget
commitments to help poor countries reach the U.N. Millennium Development Goals
to reduce poverty.Zoellick added that a prolonged credit crunch or a sustained
global slowdown raises the risk that poor nations will be seriously hampered in
efforts to improve the lives of their citizens.He said officials from the
world's advanced economies agree that the international community should
continue to help. The World Bank estimates that high food and energy prices
have pushed another 100 million people into poverty this year alone.The
director of the International Monetary Fund, Dominique Strauss-Kahn, said the
current economic crisis puts additional strain on countries that are already
suffering.Zoellick, Strauss-Khan and officials from the world's seven most
industrialized nations discussed the crisis over the past few days in
Washington.Zoellick said the World Bank has a one-point-two billion dollar fund
to help countries cope with the impact of high food prices. He said the the
bank's private-sector lending branch, the International Finance Corporation,
also is considering creating a fund to help banks in the developing world.
Some information for this report was provided by AFP.
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Economy Takes Toll On Health
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Americans report feeling stressed
Psychiatrist say a faltering economy can lead to depression, and in extreme
cases, suicideA bad economy can impact people's health as well as their wealth.
Carol Pearson reports on the impact plunging stock markets are having on
Americans.
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US Economist Paul Krugman Wins Nobel Prize
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Krugman cited for analysis of how economies of scale can affect trade patterns
and location of economic activity
American economist Paul Krugman won this year's Nobel economics award, the last
in a series of 2008 Nobels handed out over the past week. From Paris, Lisa
Bryant reports for VOA that Krugman was cited by the Nobel committee for his
analysis of how economies of scale can affect trade patterns and the location
of economic activity. Paul KrugmanThe Nobel committee awarded this year's Nobel
to Princeton University professor Paul Krugman for his theories to answer
questions about free trade andglobalization. Among other things, the committee
said in its statement, Krugman's ideas were based on economies of scale - that
it's cheaper to produce things in mass. And his theories also explain why trade
is dominated by countries with similar economic conditions and countries that
trade in similar products. The committee said Sweden - which both imports and
makes cars - is a case in point.In a telephone interview after the
announcement, the U.S. economist said the award would enhance his visibility.
And he described the current global economic turmoil as terrifying.Krugman
comments on politics as well as economics as an analyst for the New York Times
newspaper. He has sharply criticised the Bush administration on a number
ofissues - including the US-led war in Iraq. Krugman spoke on ABC Television on
Sunday before he won the Nobel prize and was asked about the world coming
together to solve the current financial crisis. "I mean, if something doesn't
come out by late today, you know, I mean we don't know but it's very scary, and
I have to say it's been really disappointing," Krugman said. "The communique,
the big G-7, the big powers, released a communique on Friday which was
boilerplate; it was not an actual plan, it was.... in fact, if you're used to
reading communiques which alas I am, it had all the signs of basic
disagreements papered over, so this is not good. You know, at each stage
during this crisis, policy has been less than people expected, and that builds
up a cumulative loss of credibility here. You know, I just heard someone this
morning that somebody from Treasury is saying 'well we plan to begin these
equity injections into banks within two weeks.' Two weeks! You know, Gordon
Brown in Britain announced a plan on Wednesday, and they're going to do the
equity injections in Britain tomorrow."Krugman's $1.4 million award ends the
series of Nobels for this year. Last week, the Nobels for physics, chemistry,
mathematics, literature and peace were awarded.
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Obama to Outline Economic Plan in 'Major' Address
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Democratic presidential candidate Barack Obama seeks to extend his lead in
national polls over Republican candidate John McCain
Barack Obama Democratic presidential candidate Barack Obama says he will
announce a plan to help Americans in the economic crisis Monday, as he seeks to
extend his lead in national polls over Republican candidate John McCain.A
campaign statement says Senator Obama will release a plan for middle-class
Americans in Toledo Ohio, a critical battleground state. The campaign did not
provide details.Two new opinion polls (one by Reuters, C-Span and Zogby, and
the other by Rasmussen Reports) indicate Obama has a six-point lead over
Senator McCain, with concerns about the U.S. economy dominating the campaign
three weeks before the election.McCain has vowed a comeback, promising to
"whip" Obama in their last televised debate Wednesday. The Republican
candidate is intensifying his efforts in key battleground states, with planned
campaign appearances today in Virginia and North Carolina.Obama went
door-to-door Sunday in the working-class Ohio town of Holland to talk with
residents about the economy. Republican vice presidential candidate Sarah Palin
also campaigned Sunday in Ohio, where she said small-town USA understands the
value of neighbors and hard work. She accused Obama of not paying attention to
such voters.Democratic vice presidential candidate Joe Biden gave a speech
Sunday on domestic issues in the Delaware senator's birthplace of Scranton,
Pennsylvania, asserting that an Obama-Biden White House would protect jobs and
access to health care. Biden was joined by former President Bill Clinton and
current New York Senator Hillary Clinton, in the first joint campaign
appearance by the couple to help boost support for Obama.
Some information for this report was provided by AFP, AP and Reuters.
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Iraqi PM Tells British Troops to Go Home
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In an interview with The Times newspaper published Monday, Mr. Maliki thanked
the British troops for their help
Iraqi Prime Minister Nouri al-Maliki says it is time for British troops to
leave the country because they are no longer necessary for security and
control.Nouri al-Maliki In an interview with The Times newspaper published
Monday, Mr. Maliki thanked the British troops for their help. He said there
might be a need for their experience in training Iraqi forces and some
technological issues, but that the emphasis is now on business cooperation and
friendship.The Iraqi leader also criticized Britain's decision to move its
troops out of Basra earlier this year, which he said gave gangs and militias
the chance to control the city.In violence Sunday, four separate attacks in
northern city of Mosul and the capital, Baghdad, killed at least 16 people and
wounded more than 50 others. Mr. Maliki also ordered an investigation into a
recent series of attacks against Christians in Mosul. Following talks with
Christian officials, Mr. Maliki condemned the violence that has prompted nearly
one thousand Christian families to flee the city recently.Iraqi authorities
have deployed more than a thousand police officers to guard Christian districts
and churches in Mosul.
Some information for this report was provided by AFP and Reuters.
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SADC Facilitator Due in Zimbabwe
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Former South African President Mbeki expected to try to persuade President
Mugabe to give up control ministry governing police
Former South African president Thabo Mbeki and his team of facilitators are
expected in Harare for long and tough negotiations on a new Zimbabwe cabinet.
Peta Thornycroft reports from Zimbabwe's capital that Mr. Mbeki is expected to
persuade President Robert Mugabe to give up control of the home affairs
ministry, which controls the police.South African President Thabo Mbeke (file
photo)Mr. Mbeki and his team are expected to be flown into Zimbabwe by the
South African air force and negotiations are expected to take place at state
house. Mr. Mbeki returns to Harare exactly four weeks after he presided over an
agreement for an inclusive government signed by President Robert Mugabe,
opposition leader Morgan Tsvangirai, and minority party leader Arthur
Mutambara. According to the agreement, Mr. Tsvangiari was named prime minister
designate in the still to be appointed cabinet. But it left Mr. Mugabe in
control of still to be appointed Cabinet ministries in a transitional
government that must draw up a new constitution before new elections. In the
past two weeks, Mr. Tsvangirai and Mr. Mugabe have been haggling over four
ministries, Home Affairs, Local Government, Foreign Affairs and Finance. The
other 27 ministries were largely agreed to by Mr. Tsvangirai and Mr. Mugabe,
according to sources close to the negotiations.The portfolio split gave Mr.
Tsvangirai the main service delivery and economic ministries such as Health,
Education, Industry and Commerce. He would have control over the broken water
and power sectors, which adversely affect every aspect of life in Zimbabwe.The
social and economic ministries, observers say, would allow Mr. Tsvangirai to
make a significant difference to people's lives before the next election.One
commentator in a sensitive political position said Mr. Mugabe wanted control of
the army, secret service and police as part of Zanu-PF's long tradition of high
profile authoritarianism. One commentator said control of the police was only
important if it was to be used for "insidious" purposes and that it would be
more difficult to misuse the police in an inclusive government which is
expected to pass many reformist laws.Insiders say they believe that Mr. Mbeki
is fully informed of all issues around the present deadlock. Mr. Mugabe
published a government notice late Friday distributing the 31 ministries
between Zanu-PF and the MDC, although he did not need to do that
constitutionally or in terms of last month's agreement. He gave the disputed
Home Affairs Ministry to Zanu-PF.The MDC has described this as disgraceful,
outrageous and unilateral, and an extraordinary provocation.
------------------------------------------------------
Indian Prime Minister Calls for Tough Steps to Stem Growing Violence
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Manmohan Singh says violence that seems to be permeating across country is an
assault on composite culture of India
Indian Prime Minister Manmohan Singh is calling for tough action to stem a
surge of terrorist and communal violence that has claimed hundreds of lives in
recent months across the country. Anjana Pasricha reports from New Delhi, much
of the violence is blamed on radical groups, both Muslim and Hindu. Indian
Prime Minister Manmohan Singh 14th National Integration Council meeting, in New
Delhi, 13 Oct 2008Prime Minister Manmohan Singh said Monday violence seems to
be permeating across the length and breadth of the country, and called it an
assault on the country's composite culture.Mr. Singh was addressing a meeting
of the National Integration Council, which includes chief ministers of the
country's 28 states, leaders of political parties, and senior ministers."An
atmosphere of hatred and violence is being artificially generated," he said.
"There are forces deliberately encouraging such tendencies and also spawning
militant outfits who engaged in irrational violence. These need to be firmly
dealt with." The Prime Minister voiced his concern as India grapples with
a wave of terrorist, sectarian and religious violence that has killed hundreds
of people across the country in recent months.A series of bomb attacks across
several major cities has killed 140 people. The eastern state of Orissa has
been wracked with clashes between Hindus and Christians since August. In the
northeastern state of Assam, ethnic clashes between indigenous tribes and
Muslim settlers have killed more than 50 people in recent weeks.Many of the
attacks are blamed on radical Muslim and Hindu groups. Hardline Hindu
organizations have been accused of carrying out deadly attacks on Christians.
Authorities say a homegrown radical Islamist group, the Indian Mujahideen,
carried out the bomb attacks in several cities.In recent weeks, police have
arrested more than 20 Muslims, including students of a prominent Muslim
University, for their links to the Indian Mujahideen. However, Muslim leaders
accuse the police of making indiscriminate arrests in the wake of the bomb
attacks.Responding to such concerns, Prime Minister Singh cautioned law
enforcement agencies on the need to be sensitive. "At the same time it is
important that in trying to counter terrorism wrong methods and means are not
adopted," the prime minister said. "Any impression that any community or
sections amongst them are being targeted, or some kind of profiling is being
attempted should be avoided." Authorities are under pressure to act against
both Hindu and Muslim fundamentalist groups and stem the growing tide of
violence.But analysts say action against radical groups is often not firm
enough in a country where political parties do not want to alienate either
Hindu or Muslim voters. Muslims make up about 12 per cent of the population in
Hindu majority India.
------------------------------------------------------
Conservatives Win Lithuanian Parliamentary Election
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But strong support for populist parties expected to make it difficult to form
coalition government
Preliminary official results from Lithuania's parliamentary election indicate
the main conservative opposition party has won the first round of the former
Soviet republic's parliamentary elections, heralding the end of years of Social
Democratic rule led by Prime Minister Gediminas Kirkilas. The Homeland Union
received about 18 percent of the vote, but the strong support for populist
parties is expected to make it difficult to form a coalition government. As
Stefan Bos reports for VOA, voters also decided Sunday on the future of a
controversial nuclear power plant in a non-binding referendum closely watched
by the European Union.Man, accompanied by his children, casts his ballot in
Vilnius, 12 Oct 2008The apparent victory of Lithuania's conservative Homeland
Union Party in parliamentary elections Sunday came amid voter anger over the
Baltic country's economic difficulties after years of spectacular growth.
Difficult talks are expected between the Homeland Union and two populist
parties of a former president and a Russian millionaire, that received at least
a quarter of the cast ballots. The Homeland Union, led by former Prime Minister
Andrius Kubilius, is a traditional tax-cutting conservative party but it also
says the budget deficit could rise and this could mean a delay in the country's
attempts to introduce the Euro currency. The party is also the one which most
often raises the issue of Russia as a threat to Lithuania.Yet voters seem to
believe that not much will change in their country, whoever comes to power, as
they told EuroNews Television."If you look at the party programs, they are very
much similar, therefore personalities on the party lists will decide whom to
vote for," one man said.Under Lithuania's election rules, a second round of
voting will be held on October 26, which observers say could still impact the
final party line-up.Whoever comes to power will have to tackle double digit
inflation and fears the once high flying economy will slide in the global
financial crisis.Sunday's ballot also featured a non binding referendum on
whether to keep a controversial Soviet-era nuclear plant operating beyond its
scheduled closure in 2009. The Election Commission said the referendum may be
invalid, because of a low turnout, a setback for authorities who wanted to
pressure the European Union.EU members want Lithuania's nuclear station to be
closed because of design problems similar to those in the Ukrainian plant of
Chernobyl, which caused the world's worst nuclear disaster.European Commission
President Jose Manuel Barroso has made clear Lithuania agreed to close the
Soviet-era plant by the end of 2009 as part of its deal to join the European
Union in 2004."There is a commitment, a legal commitment, arising out of the
accession treaty that is not at the discretion of either Lithuania or the
Commission," Barroso said. "This is a commitment that must be honoured as we
must never compromise on safety. So I of course, as guardian of the treaty at
the Commission can only say that the treaties have to be respected."However
Lithuanian Prime Minister Kirkilas has told the EU that Lithuanians would have
to face sharp energy rises as a result of the closure of the Ignalina plant,
which provides 70 percent of the country's needs.Observers say many Lithuanians
believe that the closure of the plant would make them once again dependent on
Russia. Lithuania broke away from the Soviet Union in 1990.
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Thai Queen Attends Protester's Funeral
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Thai queen's funeral visit seen as support for opposition
Anti-government protesters walk past a portrait of Thai Queen Sirikit on the
grounds of the government house complex which the protesters have been
occupying for more than a month Monday, 13 Oct. 2008 in BangkokThailand's Queen
Sirikit made a rare public appearance Monday at the funeral of a female
protester killed in clashes last week with police.The father of the 28-year-old
woman says Queen Sirikit told him that his daughter had died in a noble
cause.The woman's father also said Thailand's King Bhumibol Adulyadej donated
more than $29,000 to help treat those injured during the protests.Two people
were killed and more than 400 injured during the clashes last week, the worst
street violence in the capital in 16 years. Queen Sirikit spent less than an
hour at the funeral and was greeted by cheers of "long live the
queen!"Opposition activists at the funeral saw her appearance as a sign of the
monarchy's support.The opposition People's Alliance for Democracy has been
occupying government offices for weeks, demanding that Prime Minister Somchai
Wongsawat step down because of his links to ousted Prime Minister Thaksin
Shinawatra.Mr. Somchai is Thaksin's brother-in-law.Protesters draped themselves
in the yellow shirts and scarves - the color associated with the king - and
said they are loyal to the monarchy.When tanks rolled into the streets in
September 2006 and ousted Mr. Thaksin in a bloodless military coup, the
military said it was protecting the monarchy.A government spokesman said Mr.
Somchai is scheduled to brief King Bhumibol Monday on the country's current
political situation.
Some information for this report was provided by AFP, AP and Reuters.
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