Global Agenda articles from February 2002

Global Agenda archives from February 2002

What hope for the euro? The euro: Still sinking.
February 1, 2002... Hopes of a significant appreciation of the euro have faded yet again, as the dollar surges amid talk of a speedy recovery in the American economy. Does the weakness of the single European currency matter? "HOW do they know?" asked Dorothy...

Past the glory days.(J.P. Morgan Chase)
February 1, 2002... Among the many banks stung by recent bankruptcies in America, one name stands out: J.P. Morgan Chase was a big lender to three of the biggest corporate failures--Enron, Kmart and Global Crossing--and has had to write off hundreds of millions of...

Duisenberg steps down; The euro: Duisenberg's departure.(European Central Bank President Wim Duisenberg)
February 1, 2002... Wim Duisenberg, the controversial president of the European Central Bank, has announced that he will step down early, in July next year. His departure could mean a protracted struggle for the presidency: but it is unlikely to have much...

What hope for the euro? The euro: Still sinking.
February 1, 2002... Hopes of a significant appreciation of the euro have faded yet again, as the dollar surges amid talk of a speedy recovery in the American economy. Does the weakness of the single European currency matter? "HOW do they know?" asked Dorothy...

Past the glory days.(J.P. Morgan Chase and Co.)(Brief Article)(Statistical Data Included)
February 1, 2002... Among the many banks stung by recent bankruptcies in America, one name stands out: J.P. Morgan Chase was a big lender to three of the biggest corporate failures--Enron, Kmart and Global Crossing--and has had to write off hundreds of millions of...

Duisenberg steps down; The euro: Duisenberg's departure.(Wim Duisenberg)
February 1, 2002... Wim Duisenberg, the controversial president of the European Central Bank, has announced that he will step down early, in July next year. His departure could mean a protracted struggle for the presidency: but it is unlikely to have much...

[0] Bush's budget bonanza; Bush's budget: Deficit dilemmas.(Statistical Data Included)
February 4, 2002... Strengthening the American economy is the primary goal of President George Bush's budget, according to his treasury secretary, Paul O'Neill. But the budget provides for one of the largest jumps in government spending in recent history, and...

Another way to sell cars; European cars: A retailing shake-up.(Brief Article)
February 5, 2002... The European Commission has decided that the way motor manufacturers have always sold cars in Europe, through exclusive dealerships, has to be made more competitive. Some countries object, even though this should reduce prices in the European...

[0] Another way to sell cars; European cars: A retailing shake-up.(Brief Article)
February 5, 2002... The European Commission has decided that the way motor manufacturers sell cars in Europe, through exclusive dealerships, has to be made more competitive. Some countries object, even though this should reduce prices in the European Union, where...

Africa's troubled giant.(Nigeria)(Brief Article)
February 6, 2002... Tony Blair, Britain's prime minister, is to visit Nigeria as part of a four-country West African tour intended to prove the seriousness of his pledge to help tackle Africa's troubles. But he arrives just after days of grisly ethnic violence in...

[0] Africa's troubled giant.(Nigeria)(Brief Article)(Statistical Data Included)
February 6, 2002... Tony Blair, Britain's prime minister, has visited Nigeria at the start of a four-country West African tour intended to prove the seriousness of his pledge to help tackle Africa's troubles. But his trip came just after days of grisly ethnic...

Africa's troubled giant.(Nigeria)(Brief Article)(Statistical Data Included)
February 6, 2002... Tony Blair, Britain's prime minister, is to visit Nigeria as part of a four-country West African tour intended to prove the seriousness of his pledge to help tackle Africa's troubles. But he arrives just after days of grisly ethnic violence in...

Another corporate debacle.(Allied Irish Banks foreign exchange loss)(Brief Article)(Company Profile)
February 7, 2002... Allied Irish Banks has lost $750m in unauthorised foreign exchange dealing at its American subsidiary, Allfirst. This may not be enough to destroy the bank. However, it raises hard questions about its risk controls. And it unsettles investors...

[0] Another corporate debacle.(Brief Article)(Statistical Data Included)
February 7, 2002... Allied Irish Banks has lost $750m in unauthorised foreign-exchange dealing at its American subsidiary, Allfirst. This may not be enough to destroy the bank. However, it raises hard questions about its risk controls. And it unsettles investors...

Making cents on the Internet; Internet payments: Collecting pennies.(Brief Article)
February 7, 2002... The first successful flotation in more than a year of a Silicon Valley dotcom on Wall Street shows that, despite the dotcom bust, there is still some interest among investors in a good Internet idea. PayPal is one of a group of firms trying to...

Another corporate debacle.(Allied Irish Banks)(Brief Article)(Statistical Data Included)
February 7, 2002... Allied Irish Banks has lost $750m in unauthorised foreign exchange dealing at its American subsidiary, Allfirst. This may not be enough to destroy the bank. However, it raises hard questions about its risk controls. And it unsettles investors...

[0] Floating or sinking?(Brief Article)
February 8, 2002... In Argentina, the government and the banking system are gearing up for the imminent flotation of the peso. This is a central element in the government's efforts to bring the country's economic and political crisis under control. But even if it...

Floating or sinking?(Brief Article)
February 8, 2002... The Argentine peso fell sharply when trading started in the newly floated currency, following the abandonment of the dual exchange-rate system that had temporarily replaced the dollar peg. Floating the peso is a central element in the...

[0] Floating or sinking?(Brief Article)
February 8, 2002... The Argentine central bank managed to steady the peso on its first day of floating. Getting rid of the dual exchange-rate system that had temporarily replaced the dollar peg was a central element in the government's efforts to bring the...

[0] Floating or sinking?(Brief Article)
February 8, 2002... Argentina's economy minister is in Washington for discussions with the International Monetary Fund. But although the peso has now been floated, doubts remain about the rest of the government's economic recovery plan. In any case, recovery is...

When nations go bankrupt; Sovereign defaults: A struggle to reform.
February 8, 2002... The International Monetary Fund has put forward radical new proposals this week to deal with the problem of sovereign-debt crises. But America seems determined to oppose them UNDER President George Bush, the American Treasury has argued...

Sympathy, but no cash; Argentina; Reform first, cash later.
February 8, 2002... As Argentina's financial crisis continues to deepen, any hopes that new help might soon be forthcoming from the International Monetary Fund have quickly faded. Argentina will have to deliver concrete reforms first CROCODILE tears. That...

Sympathy, but no cash; Argentina; Reform first, cash later.(Brief Article)
February 8, 2002... As Argentina's financial crisis continues to deepen, with the resignation of the country's economy minister, any hopes that new help might soon be forthcoming from the International Monetary Fund have quickly faded. Argentina will have to...

Return to the dark ages; Argentina; Coping with economic collapse.(Brief Article)
February 8, 2002... Rebuffed by the International Monetary Fund, thwarted by Congress and abandoned by his economy minister, Jorge Remes Lenicov, who has resigned, Argentina's president, Eduardo Duhalde may not long survive in office ONCE again, Argentina is...

[0] Return to the dark ages; Argentina; Coping with economic collapse.(Brief Article)
February 8, 2002... Rebuffed by the International Monetary Fund, thwarted by Congress and forced by resignation to find a new economy minister, Argentina's president, Eduardo Duhalde, may not long survive in office ONCE again, Argentina is staring at an...

A glimpse of light? The world economy: G7 dodges the issues.(Column)
February 11, 2002... Finance ministers from the G7 countries sounded an optimistic note at the end of their weekend meeting in Ottawa, talking about the prospects for renewed expansion in the industrial world. But progress on many of the issues facing the...

Saving the enterprise; Media: Kirch battles to survive.(Leo Kirch)
February 11, 2002... The battle by Leo Kirch to prevent his media empire crashing in debt shows how Germany's cosy form of capitalism is finally unravelling. As it does so, the predators gather to pick up some of the world's most interesting media opportunities ...

[0] Milosevic on trial; The Milosevic trial: Testing international justice.(Column)
February 11, 2002... Slobodan Milosevic, the former Serbian leader, went on trial this week in The Hague, charged with war crimes and genocide. The trial is the first time anyone has been tried before an international court for crimes allegedly committed as head of...

Milosevic on trial; The Milosevic trial: Testing international justice.
February 11, 2002... Slobodan Milosevic, the former Serbian leader, went on trial this week in The Hague, charged with war crimes and genocide. The trial is the first time anyone has been tried before an international court for crimes allegedly committed as head of...

[0] Milosevic on trial; The Milosevic trial: Testing international justice.
February 11, 2002... Slobodan Milosevic, the former Serbian leader, went on trial this week in The Hague, charged with war crimes and genocide. The trial is the first time anyone has been tried before an international court for crimes allegedly committed as head of...

[0] Milosevic on trial; The Milosevic trial: Testing international justice.
February 11, 2002... Slobodan Milosevic, the former Serbian leader, went on trial last week in The Hague, charged with war crimes and genocide. The trial is the first time anyone has been tried before an international court for crimes allegedly committed as head of...

Milosevic on trial; The Milosevic trial: Testing international justice.
February 11, 2002... Slobodan Milosevic, the former Serbian leader, goes on trial this week in The Hague, charged with war crimes and genocide. The trial will be the first time anyone has been tried before an international court for crimes allegedly committed as...

Saving the enterprise; Media: Kirch battles to survive.(article examines financial ramifications of Leo Kirch's media empire)
February 11, 2002... The battle by Leo Kirch to prevent his media empire crashing in debt shows how Germany's cosy form of capitalism is finally unravelling. As it does so, the predators gather to pick up some of the world's most interesting media opportunities ...

Milosevic on trial; The Milosevic trial: Testing international justice.
February 11, 2002... Slobodan Milosevic, the former Serbian leader, went on trial this week in The Hague, charged with war crimes and genocide. The trial is the first time anyone has been tried before an international court for crimes allegedly committed as head of...

[0] Milosevic on trial; The Milosevic trial: Testing international justice.
February 11, 2002... Slobodan Milosevic, the former Serbian leader, went on trial last week in The Hague, charged with war crimes and genocide. The trial is the first time anyone has been tried before an international court for crimes allegedly committed as head of...

Kirch comes down to earth.(Brief Article)
February 11, 2002... A company at the centre of Leo Kirch's troubled media empire has filed for insolvency. This provides an unrivalled opportunity for other media moguls to get their hands on some of his prize assets, and could mark a new stage in the unravelling...

[0] Kirch comes down to earth.(profile of Kirch Group)(Brief Article)
February 11, 2002... Leo Kirch's troubled media empire is collapsing. This provides an unrivalled opportunity for other media moguls to get their hands on some of his prize assets, and could mark a new stage in the unravelling of Germany's close-knit, cosy form of...

Euro-scepticism; Europe and America: Tensions in the alliance.
February 14, 2002... As President George Bush and his colleagues become ever more explicit about their determination to topple Saddam Hussein, the Iraqi dictator, European countries are expressing reservations. Some have criticised Mr Bush's characterisation of...

Hot air; Global warming: Bush's response.(Brief Article)
February 14, 2002... Almost a year after he rejected the Kyoto protocol on climate change, President George Bush has come up with his own proposals for a new American policy on global warming. But they are unlikely to satisfy even the mildest critics of the...

Stinking hollow; Telecoms firms: A touch of Enronitis.
February 14, 2002... Enronitis has hit the telecommunications industry. Telecoms companies have admitted that they used favourable accounting rules to inflate their revenues. The news has damaged an industry that is already staggering under massive debts. Some...

The non-performing country.
February 14, 2002... President George Bush arrives this weekend to meet Junichiro Koizumi, prime minister of Japan, a country plagued by the triple menace of debt, deflation and political deadlock. Even now, the drastic surgery the economy needs may not be...

Euro-scepticism; Europe and America: Tensions in the alliance.
February 14, 2002... As President George Bush and his colleagues become ever more explicit about their determination to topple Saddam Hussein, the Iraqi dictator, European countries are expressing reservations. Some have criticised Mr Bush's characterisation of...

[0] The non-performing country.
February 14, 2002... Visiting Japan, President George Bush has expressed his confidence in Junichiro Koizumi, the prime minister, and in his economic strategy. But many observers have growing doubts about Mr Koizumi's ability and willingness to tackle Japan's...

The non-performing country.
February 14, 2002... President George Bush has ended a vist to Japan, where he expressed his confidence in Junichiro Koizumi, the prime minister, and in his economic strategy. But many observers have growing doubts about Mr Koizumi's ability and willingness to...

Turning a corner?(Japan and the Global Economy)(Statistical Data Included)
February 14, 2002... Sighs of disappointment have greeted the Japanese government's latest economic-recovery plan. There are some signs that the worst might be over in America and Germany. Alan Greenspan observed this week that the recuperative powers of the...

[0] Turning a corner?(Japan and the World Economy)(Statistical Data Included)
February 14, 2002... Sighs of disappointment have greeted the Japanese government's latest economic-recovery plan. There are some signs that the worst might be over in America and Germany. Alan Greenspan observed this week that the recuperative powers of the...

Is the worst over? The world economy: Over the worst?(Alan Greespan, United States Federal Reserve Bank)(Brief Article)(Statistical Data Included)
February 14, 2002... The American economy grew much faster than expected in the last three months of last year, according to the latest figures which strengthen the view that the recovery is under way. But the outlook for the world economy as a whole remains...

Ready to party? The world economy: Over the worst?(Alan Greenspan, United States Federal Reserve Bank)(Statistical Data Included)
February 14, 2002... As more evidence emerges that America's economic recovery may have started, hopes are rising that the worst may also be over for the world economy. But it may still be too soon to uncork the champagne IS it time to open the champagne? As...

Euro-scepticism; Europe and America: Tensions in the alliance.(Europe expresses concern over United States' desire to oust Iraqi dictator Saddam Hussein)
February 14, 2002... As President George Bush and his colleagues become ever more explicit about their determination to topple Saddam Hussein, the Iraqi dictator, European countries are expressing reservations. Some have criticised Mr Bush's characterisation of...

Hot air; Global warming: Bush's response.(United States President George Bush reaction to Kyoto protocol and climate change proposals for American environmental policy)
February 14, 2002... Almost a year after he rejected the Kyoto protocol on climate change, President George Bush has come up with his own proposals for a new American policy on global warming. But they are unlikely to satisfy even the mildest critics of the...

Stinking hollow; Telecoms firms: A touch of Enronitis.(article examines Enron Corp.-type accounting methods that inflate company revenues)
February 14, 2002... Enronitis has hit the telecommunications industry. Telecoms companies have admitted that they used favourable accounting rules to inflate their revenues. The news has damaged an industry that is already staggering under massive debts. Some...

The non-performing country.(article examines Japan's economic concerns; upcoming meeting between President George Bush and Prime Minister Junichiro Koizumi of Japan)
February 14, 2002... President George Bush arrives this weekend to meet Junichiro Koizumi, prime minister of Japan, a country plagued by the triple menace of debt, deflation and political deadlock. Even now, the drastic surgery the economy needs may not be...

Flying high? The Fed decides: No more rate cuts.(Federal Reserve Board leaves interest rates unchanged)(Brief Article)(Statistical Data Included)
February 14, 2002... For the second time this year, America's Federal Reserve has left interest rates unchanged. As confidence that the recession is over strengthens, it looks as if interest rates have stopped falling, and could soon start rising ALL OVER bar...

[0] Flying high? The Fed decides: No more rate cuts.(Federal reserve Board leaves interest rates unchanged)(Statistical Data Included)
February 14, 2002... Inflation remains subdued in America in spite of signs that the economy is on the rebound. Although the Federal Reserve left interest rates unchanged this week, for the second time this year, an end to the fall in interest rates does not...

Playing politics with tax; America's tax cut; The campaign to make it permanent.
February 14, 2002... The House of Representatives has handed a first victory to President George Bush in his new campaign to make last year's tax cut permanent. But can he get the Senate to follow suit? And would success mean an end to all hopes of budget...

The recovery gets under way.
February 14, 2002... According to the latest World Economic Outlook from the IMF, the global slowdown has bottomed out and recovery in most countries is now under way. Risks remain, but governments should be trying to exploit the upturn and reduce economic...

Keeping the recovery going.
February 14, 2002... Economic recovery is underway, according to the world's finance ministers who met in Washington over the weekend. But risks remain, not least from the oil markets STRENGTHENED international co-operation. It is this, according to the G7...

[0] Bouncing back; America's economy; Does the accelerating recovery mean higher interest rates?(Brief Article)(Column)(Statistical Data Included)
February 14, 2002... The strength of America's economic recovery in the first quarter of this year has been breathtaking. Can the expansion really continue at such a scorching pace? And if growth is maintained, will American interest rates have to go up? WOW....

Mending the world's piggy bank; Improving the IMF: Learning from Argentina.(International Monetary Fund)(Brief Article)
February 15, 2002... With Argentina still reeling from the economic and financial crisis which saw the world's largest sovereign-debt default, attention is beginning to focus on ways of preventing future crises, and making those that do occur easier to deal with...

Bush and the war that never ended; Bush and South Korea: Not Seoul mates.
February 18, 2002... George Bush arrives in South Korea on February 19th for a two-day visit that will include a trip to the heavily fortified border with North Korea, a country which he lumps with Iran and Iraq in his "axis of evil". Many South Koreans fear his...

Unfinished business; Afghanistan: The tribal warlords thrive.
February 18, 2002... The assassination of Afghanistan's tourism minister--apparently at the instigation of one of his own government colleagues--highlights just how fragile the country's interim government is. Though western aid of $4.5 billion has been promised,...

Unfinished business; Afghanistan: The tribal warlords thrive.
February 18, 2002... The assassination of Afghanistan's tourism minister--apparently at the instigation of his own government colleagues--highlights just how fragile the country's interim government is. Though western aid of $4.5 billion has been promised, little...

On the border of the axis of evil.
February 18, 2002... George Bush's two-day visit to South Korea included a trip to the heavily fortified border with North Korea, a country which he lumps with Iran and Iraq in his "axis of evil". Many South Koreans fear his tough line will do little to improve...

Chaos continued.(Afghanistan political situation)
February 18, 2002... Stability has not been achieved in Afghanistan. The central government's writ barely extends beyond Kabul. Local warlords remain in charge. Large parts of the country lack food and are stricken by disease. But America's State and Defence...

Bush and the war that never ended; Bush and South Korea: Not Seoul mates.(United States President George W. Bush)
February 18, 2002... George Bush arrives in South Korea on February 19th for a two-day visit that will include a trip to the heavily fortified border with North Korea, a country which he lumps with Iran and Iraq in his "axis of evil". Many South Koreans fear his...

Unfinished business; Afghanistan: The tribal warlords thrive.(Hamid Karzai, Afghanistan's acting president seek peacekeeping assistance)
February 18, 2002... The assassination of Afghanistan's tourism minister--apparently at the instigation of one of his own government colleagues--highlights just how fragile the country's interim government is. Though western aid of $4.5 billion has been promised,...

[0] Battles yet to come.(describes battle between U.S. forces and Taliban and al-Qaeda forces in Afghanistan, March 2-6, 2002)(Statistical Data Included)
February 18, 2002... American troops are engaged in a bloody fight with al-Qaeda holdouts. Declarations of an American military victory in Afghanistan, such a prominent feature of political and diplomatic discourse in the past few months, have suddenly begun to...

[0] Battles yet to come.(US-Afghanistan conflict)
February 18, 2002... American troops are engaged in a bloody fight with al-Qaeda holdouts. Declarations of an American military victory in Afghanistan, such a prominent feature of political and diplomatic discourse in the past few months, have suddenly begun to...

[0] Battles yet to come.
February 18, 2002... American troops are engaged in a bloody fight with al-Qaeda holdouts. Declarations of an American military victory in Afghanistan, such a prominent feature of political and diplomatic discourse in the past few months, have suddenly begun to...

Battles yet to come.
February 18, 2002... American troops are engaged in a bloody fight with al-Qaeda holdouts. Declarations of an American military victory in Afghanistan, such a prominent feature of political and diplomatic discourse in the past few months, have suddenly begun to...

Boldly going; North Korea: Out of its shell?(Brief Article)
February 18, 2002... North Korea, which has been sulking after being designated part of President George Bush's "axis of evil", seems, tentatively, to be coming out of its shell again. After months of shunning high-level contacts with other countries, it last week...

[0] Boldly going; North Korea: Out of its shell?(Brief Article)
February 18, 2002... North Korea, which has been sulking after being designated part of President George Bush's "axis of evil", seems, tentatively, to be coming out of its shell again. After months of shunning high-level contacts with other countries, it last week...

The Koreas talk again; North Korea: Out of its shell?(Brief Article)
February 18, 2002... North Korea, which has been sulking after being designated part of President George Bush's "axis of evil", seems, tentatively, to be coming out of its shell again. This week it has met a senior South Korean envoy, and dropped hints of further...

The Koreas are talking again; North Korea: Out of its shell?(Brief Article)
February 18, 2002... North Korea, which has been sulking after being designated part of President George Bush's "axis of evil", seems to be coming out of its shell again. Following a visit by a senior South Korean envoy, it has agreed to more family reunions and...

The Mandela effect; AIDS in South Africa: Mandela intervenes.(Statistical Data Included)
February 19, 2002... Nelson Mandela, South Africa's former president, is trying to shift the current government's awful AIDS policy MADIBA, as Nelson Mandela is fondly known, is trying to shift the South African government's policy on AIDS. This week he met...

A drug on the market; Afghan heroin: Reclaiming the market.(Taliban had banned opium poppy growth)(Brief Article)
February 20, 2002... A report from a United Nations body has added to mounting worries about an upsurge in heroin trafficking, following the downfall of Afghanistan's Taliban regime. The Taliban imposed a largely effective ban on the cultivation of the opium poppy,...

Click, no film; Digital photos: The long-awaited breakthrough.(Brief Article)
February 21, 2002... A new type of image-processing chip promises to give digital photography a boost. It means the end of film has got a lot closer PREVIOUS reports of its death have been greatly exaggerated. Photographic film has survived most threats....

A slide back to war.(Colombia peace negotiations fail)
February 21, 2002... Colombia's three-year effort to negotiate a peace deal with leftist guerillas has collapsed. As a result, the country looks set for a period of increased violence. Eventually, though, both sides will have to return to the negotiating table ...

[0] A slide back to war.(Colombian actions against guerrilla army)
February 21, 2002... Colombia's three-year effort to negotiate a peace deal with leftist guerrillas has collapsed. As a result, the country looks set for a period of increased violence. Eventually, though, both sides will have to return to the negotiating table ...

The founding fathers, maybe; The European Union: Creating a constitution.(constitutional convention proceedings)
February 21, 2002... European notables have launched what has been grandly dubbed the European Union's constitutional convention. The EU faces big challenges, not least enlargement to the east, that seem to demand a big overhaul. But winning agreement on these will...

Relaunching Europe; The EU: A constitutional convention.(European Union)(Brief Article)
February 21, 2002... Europe's grandly named "constitutional convention" has started proceedings in Brussels, offering an opportunity to relaunch the European venture. But it could be squandered if the next 12-18 months are spent producing a document that makes...

Counting the cost; Former communist states: Struggling with poverty.
February 22, 2002... The plight of many of the countries which used to belong to the former Soviet Union is once again under the spotlight, with the World Bank president on an eight-day visit to Central Asia. Seven countries in the Commonwealth of Independent...

Talking to the Tigers.(government of Sri Lanka and the Tamil Tigers begin ceasefire)(Brief Article)
February 25, 2002... A ceasefire begins this week between the government of Sri Lanka and the Tamil Tigers, one of the world's most fearsome guerrilla groups whose suicide attacks have claimed thousands of lives. Whether this brings peace to the island after almost...

A chance for peace.(National Union for the Total Independence of Angola leader Jonas Savimbi dead)(Brief Article)
February 25, 2002... The death of Jonas Savimbi, the veteran Angolan rebel leader, gives a country wrecked by war a chance of peace THE greatest obstacle to peace in Angola expired in a storm of bullets on Friday: thirteen through his body and two through his...