Global Agenda articles from July 2004

Global Agenda archives from July 2004

Perils on the sea.(maritime, anti terrorism measures )
July 7, 2004... As leaders of the NATO military alliance agree to develop new defences against maritime terrorism, there are worries that world trade may be disrupted by new anti-terror rules for ports and ships that are about to come into force A QUARTER...

Wanted: a cure for Weltschmerz.(public opinion about German economy)
July 7, 2004... Germans are once again losing confidence in their economy; they long since lost it in their government "I WANT to show them that soft growth, high unemployment and disinvestment are not facts to be fatalistically accepted," Nicolas...

Mr Compromise to lead the European Commission; The European Commission's new president; Mr Compromise.
July 7, 2004... The European Union's leaders have finally agreed on a new president of the European Commission: Portugal's prime minister, Jose Manuel Durao Barroso. Though the row over the commission's new boss is over, the bitterness will not fade so soon...

Iraq's sovereignty restored, up to a point; Iraq; Sovereignty restored, up to a point.
July 7, 2004... Iyad Allawi's interim Iraqi government, having been handed power by the American-led coalition ahead of schedule, now faces a struggle to establish its credibility among frustrated Iraqis and, above all, improve security THE handing over...

Terror suspects freed from legal limbo; America's terror suspects; Back from legal limbo.
July 7, 2004... America's Supreme Court has dealt a potentially embarrassing blow to the Bush administration by ruling that the prisoners at Guantanamo Bay and an American citizen held in a military jail have a right to challenge their detention AMERICA'S...

America: the world's biggest hedge fund.(dollar, foreign investments by americans, foreign investments in America)
July 7, 2004... Are markets about to start panicking about the dollar again--with good reason? YOU, dear reader, along with everyone else from Tokyo to Tallahassee, will have been casting your gaze towards Washington this week, to see how large would be...

A mandate but no majority for Martin.(Paul Martin)(Canada's general election)
July 7, 2004... In the most closely-contested general election in Canada for more than two decades, the ruling Liberal party has won a fourth term, but lost its majority IN HIS search for a mandate, Paul Martin has lost his majority. Canada's prime...

Powell seeks to stop the killing.
July 7, 2004... A campaign of destruction, looting, rape and murder by government-backed militiamen in the Darfur region of Sudan is now leading to a widespread famine. There are fears that up to 1m may die. America and the UN have sent top officials to press...

Crooning to victory? Indonesia's presidential election; Pop idol Susilo makes the finals.(Susilo Bambang Yudhoyono)
July 7, 2004... Susilo Bambang Yudhoyono, a charismatic retired general, is well ahead in early results from Indonesia's first ever presidential election. He is now likely to face the country's incumbent leader, Megawati Sukarnoputri, in a run-off vote....

The Greenspan putt.
July 7, 2004... America's Federal Reserve has raised interest rates for the first time in over four years. A steady stream of further rises in the cost of borrowing is now likely--unless America's high-spending, heavily-indebted households suddenly retreat ...

Violence, chaos and the Saddam show.
July 7, 2004... With insurgents determined to bring him down and the Iraqi economy in ruins, Iyad Allawi faces huge challenges--and the distraction of Saddam Hussein's forthcoming trial. But there are some reasons for optimism OUT of sight since he was...

The rule of law, Russian-style.(fall in Yukos Oil Co.'s share prices)
July 7, 2004... Shares in Yukos have plunged, reflecting fears that the Russian oil group that dared to face down the Kremlin will go bankrupt. This is unlikely in the short term at least, but the battle between them is escalating to dangerous levels LAST...

Renaissance? What renaissance? Italy's economic turmoil; Berlusconi loses a key lieutenant as his coalition wobbles.(Silvio Berlusconi)
July 7, 2004... Silvio Berlusconi has lost his finance minister and his government has lost its AA credit rating. Can his ruling coalition regain its economic direction? Or might it break apart? AS ITALY's most prominent businessman, Silvio Berlusconi was...

Emerging markets, emerging risks.(bond and debt markets)
July 7, 2004... Investors are once again buying emerging-market debt. A perilous punt, if ever there was one SOME things in life are not just surprising but truly astonishing. The enduring popularity of Cliff Richard is one. Greece winning the Euro 2004...

The patrician and the populist.(running mate for presidency)
July 7, 2004... John Kerry has picked John Edwards, a young senator from North Carolina, as his running mate. The charismatic southerner should give a much-needed boost to the Democratic ticket SO IT is John Edwards. John Kerry has picked the young,...

Another $280 billion, please.(damages from cigarette-makers)
July 7, 2004... America's federal government is seeking $280 billion in damages from the country's big cigarette-makers, on top of the $246 billion they have already agreed to pay the states. The lawsuit is just the latest in a long string of legal challenges...

The patrician and the populist.
July 8, 2004... John Kerry has picked John Edwards, a fresh-faced senator from North Carolina, as his running mate. The charismatic southerner should give a much-needed boost to the Democratic ticket SO IT is John Edwards. John Kerry has picked the...

Cinderella's witching hour.
July 8, 2004... Does Russia's largest oil exporter face bankruptcy or break-up? AT MIDNIGHT on Wednesday July 7th, Yukos's golden carriage began to turn into a pumpkin. The next day, officials were waiting nervously at the oil firm's Moscow headquarters...

The big one; Enron's former boss indicted; All the way to Lay.
July 8, 2004... After more than two years of investigation, prosecutors have filed charges against Kenneth Lay, the former chairman of Enron. But though the bankrupt energy-trading company has become a synonym for corporate fraud, "Kenny Boy" may yet wriggle...

Crooning to victory? Indonesia's presidential election; Pop idol Susilo makes the finals.
July 9, 2004... Susilo Bambang Yudhoyono, a charismatic retired general, is well ahead in early results from Indonesia's first ever presidential election. He is now likely to face the country's incumbent leader, Megawati Sukarnoputri, in a run-off vote....

Another $280 billion, please.
July 9, 2004... America's federal government is seeking $280 billion in damages from the country's big cigarette-makers, on top of the $246 billion they have already agreed to pay the states. The lawsuit is just the latest in a long string of legal challenges...

Cinderella's witching hour.
July 9, 2004... Does Russia's largest oil exporter face bankruptcy or break-up? AT MIDNIGHT on Wednesday July 7th, Yukos's golden carriage began to turn into a pumpkin. The next day, officials were waiting nervously at the oil firm's Moscow headquarters...

Israel's illegal but unstoppable barrier; Israel's controversial barrier; Illegal but apparently unstoppable.(barrier)(High Court)
July 9, 2004... The International Court of Justice has ruled that the barrier Israel is building in the West Bank is illegal and has demanded reparations for Palestinians affected by it. There will now be pressure for sanctions to make Israel stop building the...

The big one; Enron's former boss indicted; All the way to Lay.
July 9, 2004... After more than two years of investigation, prosecutors have filed charges against Kenneth Lay, the former chairman of Enron. But though the bankrupt energy-trading company has become a synonym for corporate fraud, "Kenny Boy" may yet wriggle...

Israel's illegal but unstoppable barrier; Israel's controversial barrier; Illegal but apparently unstoppable.
July 12, 2004... The International Court of Justice has ruled that the barrier Israel is building in the West Bank is illegal and has demanded reparations for Palestinians affected by it. There will now be pressure for sanctions to make Israel stop building the...

Sell now while stocks last.
July 13, 2004... Stockmarkets look set to follow corporate profits down. Technology stocks are already showing the way BUTTONWOOD leaves fiddling with technology to his two young daughters and investing in it to those who make them look mature. He is, in...

If only they could all be like Luxembourg; Europe's stability pact and budget; The bureaucrats take on the member states.
July 14, 2004... The infamous stability pact cannot be suspended for political convenience, rules the European Court of Justice. But neither can politics be banished from the business of the European Union "INTERGOVERNMENTALISM" is an ugly and ungainly term...

A woman's place is in the courtroom; Sex-discrimination lawsuits; Morgan Stanley coughs up $54m and promises to change its ways.
July 14, 2004... Morgan Stanley has settled a sex-discrimination lawsuit for $54m, just as it was about to go to trial. The financial-services industry remains the most fertile ground for such legal assaults, but they are spreading to other industries, and...

So much for stability; A bad week for Europe; Fighting over the constitution, the budget and the stability pact.
July 15, 2004... The French president has reluctantly agreed to hold a national referendum on the draft EU constitution. The announcement comes as member states square up to Brussels over the infamous stability pact and the Union's budget PRESIDENT JACQUES...

Spymasters or spinmeisters?
July 16, 2004... British and American inquiries into intelligence failures over Saddam Hussein's supposed illegal weapons have both found that their countries' spy chiefs hyped up questionable evidence, which happened to help their political masters make the...

More money, more problems; Fighting AIDS; Why money alone is not the answer.
July 16, 2004... Serious amounts of money are now being made available to deal with AIDS in poor countries. That is good news, but it is bringing its own problems THESE days, AIDS conferences resemble gigantic photo opportunities as much as scientific...

Swallow hard.
July 16, 2004... Will the proposed mega-merger of UFJ and MTFG mark the end of Japan's banking crisis? IT WOULD create the world's biggest bank, with assets of [yen]190 trillion ($1.7 trillion). More important, the proposed merger between Mitsubishi Tokyo...

Drop the pilot; America's airlines; No end to the labour pains.
July 16, 2004... James Parker, chief executive of Southwest Airlines, America's most profitable carrier, has quit his job, saying it was "draining". Mr Parker found negotiations with labour unions particularly difficult. He is not alone: across the industry,...

Diversity and development; The UN's Human Development Report; Is cultural diversity good for development?
July 20, 2004... This year's Human Development Report, from the United Nations Development Programme, focuses on cultural diversity. Respect for it is crucial to development, but diversity also presents unique challenges for a country seeking to get richer ...

Another air show, another row; Aircraft-makers; Boeing cries foul as Airbus soars away.
July 20, 2004... Airbus and Boeing are both forecasting a recovery in demand for aircraft after a three-year slump. Airbus is the more bullish of the two, having delivered more planes than its American rival for the first time last year. This ascendancy has led...

Lawless in Gaza.
July 21, 2004... Violent protests against corruption and nepotism in Yasser Arafat's Palestinian Authority, and the threatened resignation of his prime minister, Ahmed Qurei, have forced Mr Arafat to back off from putting a relative in charge of Gaza's security...

Being and nothingness.(Buttonwood)
July 21, 2004... All is quiet on the financial front, despite many a doom-laden prediction, not least from Yours Truly. Time to stop worrying and learn to love the recovery, then? HAVING been raised in the British empiricist tradition, Buttonwood has never...

Sickening; Corruption in Kenya; Vomiting over the shoes of donors.
July 22, 2004... Europe is holding back some aid to Kenya amid signs that official crookery is still thriving under its supposedly reformist new government. What now for hopes that east Africa's biggest economy will transform itself and lead the whole region...

Giving $75 billion back, with plenty to spare.(Microsoft Corp.)
July 23, 2004... Microsoft is to return $75 billion to its owners in the biggest-ever disbursement of its kind. The company had resisted making any payouts for years, but the maturing of its business and the ending of many of its legal battles have left it with...

Your flexible friend.
July 23, 2004... The hard times are behind us, says Alan Greenspan, though a soft patch is upon us. Interest rates will rise, but the American economy is flexible enough to withstand any troubles on the horizon WHEN Alan Greenspan, the long-serving chairman...

How it happened, and what to do now.(investigation of September 11th attack)
July 23, 2004... The commission on the September 11th attacks has finally issued its report, with plenty of blame to go round. It also suggests a reorganisation of America's intelligence services. Both the assessment of the past and the recommendations for the...

The race to catch the iPod.(Music player)
July 23, 2004... Apple's portable iPod music player has revolutionised the way in which music is delivered to consumers. However, as Apple launches its iPod mini worldwide, the brand is under attack on two fronts: from copycat products from the likes of Sony,...

Threats and excuses.(Darfur region conflict)
July 27, 2004... International pressure is increasing on Sudan to stop the conflict in its Darfur region--which the UN says has caused the world's worst humanitarian crisis. While Sudan's government continues to deny culpability for the crisis, Darfur's rebels...

Party time in Boston; The Democrats' convention; Looking for the real John Kerry.
July 27, 2004... The Democrats are meeting this week in Boston to anoint John Kerry as their presidential candidate. Party heavyweights are taking the podium to rally the faithful. But Mr Kerry himself must finally shine if he is to defeat George Bush THE...

Abbey opens its doors.
July 27, 2004... Spain's biggest bank is buying a British household name, in Europe's largest-ever cross-border merger between high-street banks. The deal changes the continent's financial landscape, but it is unlikely to spur rivals to do the same IT WAS...

Brains and brawn; The Democrats' convention; A man of strength and strong values. Oh, and wisdom too.
July 29, 2004... The speakers at the Democratic convention have made John Kerry's "strength" their main theme. The party is unusually united in its desire to defeat George Bush. But the burden remains on Mr Kerry to define himself SOME of the party...

From Cancun to Geneva; WTO meeting in Geneva; Can the Doha round be put back on track?(World Trade Organisation)(Panel Discussion)
July 30, 2004... After the collapse of world trade talks in Cancun last September, can a WTO meeting in Geneva now put the Doha round back on track? CANCUN, Mexico, is a favourite seaside destination for young gringos keen to primp, preen, show off and act...

Stepping up the pressure on Sudan; The conflict in Sudan's Darfur region; Stepping up the pressure.
July 30, 2004... The UN Security Council has passed a resolution threatening Sudan's government with sanctions if it does not quickly disarm the Arab militiamen who have been slaughtering black Africans in the Darfur region. This follows the African Union's...

Onward, Muslim soldiers?(Bombing in Baquba Baghdad)
July 30, 2004... Iraq's prime minister, Iyad Allawi, has welcomed a proposal for Muslim countries to send peacekeeping troops to Iraq. But hopes of progress towards normality have been hit by continued bloodshed and the postponement of a conference to choose an...

Staying safe; The Democrats' convention; Kerry reports for duty.
July 30, 2004... John Kerry produced no surprises in accepting his nomination as the Democratic candidate for the presidency, but gave a solid speech outlining the ways in which he differs from George Bush. Now comes the Republican counter-attack JOHN...