Global Agenda articles from October 2005

Global Agenda archives from October 2005

Too soon for Turkish delight.
October 3, 2005... Formal talks on Turkey joining the European Union are being held up by those who want the Turks to be given an alternative to full membership. Within Turkey and outside it, there are questions about the predominantly Muslim country's readiness...

Indonesia's still-deadly Islamists; Bombers hit Bali again; Indonesia's Islamists show they are still deadly.
October 3, 2005... Indonesia's security forces are seeking the organisers of suicide-bombings at three tourist restaurants on the Indonesian island of Bali, almost three years after a far more deadly attack on the resort. Jemaah Islamiah, the Islamist group...

Bush's mysterious choice; George Bush's second Supreme Court nomination; The president makes his choice but still keeps them guessing.
October 3, 2005... George Bush has nominated Harriet Miers, the White House counsel, to replace Sandra Day O'Connor on the Supreme Court. Ms Miers has never served as a judge, making her views on key legal matters hard to discern and thus disappointing activists...

Still crying over spilt milk.
October 4, 2005... The trial of Calisto Tanzi, former boss of Parmalat, has opened in Milan. This and other legal action relating to the accounting scandal that bankrupted the Italian dairy giant will remind investors that Italy is in need of better financial...

Better late than never; Turkey and the European Union; A deal on membership, better late than never.
October 4, 2005... The European Union and Turkey have finally agreed on a negotiating framework that will allow formal talks on Turkish membership of the EU to begin. Within Turkey and outside it, there are questions about the predominantly Muslim country's...

Time for a trim; The Buttonwood column: hedge funds; Looking less omnipotent, headed for more transparency.
October 4, 2005... Hedge funds are headed for a lot more transparency, and not before time FORGET the leadership squabbles at the Labour and Conservative party conferences. The best story in the British press this weekend was of a deal-happy hedge-fund...

Better late than never; Turkey and the European Union; A deal on membership, better late than never.
October 6, 2005... The European Union and Turkey have finally agreed on a negotiating framework that will allow formal talks on Turkish membership of the EU to begin. Within Turkey and outside it, there are questions about the predominantly Muslim country's...

A worrying political outlook.
October 6, 2005... Iraq's parliament has reversed a dubious decision that would have made it almost impossible for voters to reject the country's proposed new constitution. Though the document still seems likely to be approved in this month's referendum, splits...

An award for the struggling nuclear detectives.
October 7, 2005... The International Atomic Energy Agency and its chief, Mohamed ElBaradei, have been awarded the Nobel Peace Prize for their efforts to stop the proliferation of nuclear weapons. While the choice has been welcomed by world leaders, the Bush...

A victory against the terror cells; The war on cancer; An important victory against the terror cells.
October 7, 2005... Merck has announced a big breakthrough in the treatment of cervical cancer. Despite the good news, cancer is becoming an increasing health risk around the world. Is comprehensive victory against the disease conceivable? WHEN an American...

Time for a trim; The Buttonwood column: hedge funds; Looking less omnipotent, headed for more transparency.
October 10, 2005... Hedge funds are headed for a lot more transparency, and not before time FORGET the leadership squabbles at the Labour and Conservative party conferences. The best story in the British press this weekend was of a deal-happy hedge-fund...

Merkel clinches it, but the price is high; Germany's power-sharing deal; Merkel gets the top job, but the price is high.(Angela Merkel)
October 10, 2005... Germany's two largest parties have agreed to form a "grand coalition" led by Angela Merkel. But Gerhard Schroder's party has got its hands on several key ministries as the price of his giving way LATE last week, Germans were still bracing...

Tragedy on one of the world's main fault lines.
October 10, 2005... International aid in the form of everything from doctors to helicopters has begun pouring into South Asia following its devastating earthquake. But there is anger among residents of Pakistani Kashmir's flattened capital, Muzaffarabad, at how...

America tries to get things moving; The Doha round of world trade talks; America tries to get things moving as a crucial deadline approaches.
October 11, 2005... America has tried to get world trade talks moving again by proposing new cuts to agricultural subsidies. With a crucial meeting in Hong Kong fast approaching, rich countries need to get serious about farm-support reforms, or risk walking away...

Which side are you on? The Buttonwood column: Delphi's bankruptcy; Time for a showdown over legacy costs.
October 11, 2005... Delphi's bankruptcy highlights the danger of ballooning legacy costs--namely pensions and health care--and is further bad news for its main customer, General Motors. The quicker management and the unions stop singing and start talking, the...

Merkel clinches it, but the price is high; Germany's power-sharing deal; Merkel gets the top job, but the price is high.(Angela Merkel)
October 12, 2005... Germany's two largest parties have agreed to form a "grand coalition" led by Angela Merkel. But Gerhard Schroder's party has got its hands on several key ministries as the price of his giving way LATE last week, Germans were still bracing...

Tragedy on one of the world's main fault lines.
October 12, 2005... International aid in the form of everything from doctors to helicopters is pouring into South Asia following its devastating earthquake. But anger has grown among residents of Pakistani Kashmir at the slowness of their government's response ...

America tries to get things moving; The Doha round of world trade talks; America tries to get things moving as a crucial deadline approaches.
October 12, 2005... America has tried to get world trade talks moving again by proposing new cuts to agricultural subsidies. With a crucial meeting in Hong Kong fast approaching, rich countries need to get serious about farm-support reforms, or risk walking away...

Which side are you on? The Buttonwood column: Delphi's bankruptcy; Time for a showdown over legacy costs.
October 12, 2005... Delphi's bankruptcy highlights the danger of ballooning legacy costs--namely pensions and health care--and is further bad news for its main customer, General Motors. The quicker management and the unions stop singing and start talking, the...

China contemplates change; Chinese economic policy; As the boom continues, the government looks for more balance between the haves and the have-nots.
October 12, 2005... As China forecasts another year of GDP growth above 9% and America's treasury secretary tries again to persuade Beijing to revalue the yuan, China's government does seem to be preparing to change its approach to economic growth. However, its...

A rather convenient suicide.
October 12, 2005... Syria's interior minister, Ghazi Kanaan--who was recently questioned by UN investigators over the assassination of Lebanon's former prime minister--has been found shot dead in his office. President Bashar Assad may consider his minister's...

China contemplates change; Chinese economic policy; As the boom continues, the government looks for more balance between the haves and the have-nots.
October 13, 2005... As China forecasts another year of GDP growth above 9% and America's treasury secretary tries again to persuade Beijing to revalue the yuan, China's government does seem to be preparing to change its approach to economic growth. However, its...

A rather convenient suicide.
October 13, 2005... Syria's interior minister, Ghazi Kanaan--who was recently questioned by UN investigators over the assassination of Lebanon's former prime minister--has been found shot dead in his office. President Bashar Assad may consider his minister's...

Ballots amid the bullets and bombs.
October 13, 2005... Iraq's parliament has amended the country's proposed new constitution just four days before it is to be put to a referendum, hoping it will now win wider support, especially among Sunni Arabs. The constitution now looks more likely to be...

Caucasian dominoes.
October 13, 2005... Gunmen have attacked government posts in a town in southern Russia. As havoc spreads from Chechnya to another part of the north Caucasus President Vladimir Putin's efforts to bring the troubled region under control look less successful than...

Ballots amid the bullets and bombs.
October 14, 2005... Iraqis are preparing to vote in a referendum on the country's proposed new constitution. It is hoped that last-minute amendments, agreed this week by the parliament, will increase support for the document. But some Sunni Arab leaders are still...

Caucasian dominoes.
October 14, 2005... Gunmen have attacked government posts in a town in southern Russia. As havoc spreads from Chechnya to another part of the north Caucasus President Vladimir Putin's efforts to bring the troubled region under control look less successful than...

A broker battered; A futures-trading scandal in America; Refco is rocked by an alleged fraud.
October 14, 2005... The boss of Refco, one of America's leading futures brokers, has been arrested on fraud charges a couple of months after the firm's successful flotation. The scandal may damage the reputation of an industry that has lately begun to forge an...

China contemplates change; Chinese economic policy; As the boom continues, the government looks for more balance between the haves and the have-nots.
October 17, 2005... As China forecasts another year of GDP growth above 9% and America's treasury secretary tries again to persuade Beijing to revalue the yuan, China's government does seem to be preparing to change its approach to economic growth. However, its...

Caucasian dominoes.(Vladimir Putin's efforts failed to restore peace in north Caucasus region)(gun-battles in Kabardino-Balkaria)
October 17, 2005... Gunmen have attacked government posts in a town in southern Russia. As havoc spreads from Chechnya to another part of the north Caucasus President Vladimir Putin's efforts to bring the troubled region under control look less successful than...

A broker battered; A futures-trading scandal in America; Refco is rocked by an alleged fraud.
October 17, 2005... The boss of Refco, one of America's leading futures brokers, has been arrested on fraud charges a couple of months after the firm's successful flotation. The scandal may damage the reputation of an industry that has lately begun to forge an...

Hopes rise of a "yes" to Iraq's constitution; Iraq's referendum; It looks like a "yes".
October 17, 2005... As vote-counting continues following Saturday's surprisingly calm referendum on Iraq's proposed new constitution, it is looking ever more likely that opponents will not have mustered enough votes to block it. However, despite last-minute...

The spreading bird-flu menace reaches Europe; The bird-flu epidemic; A spreading menace arrives in Europe.
October 17, 2005... European countries are introducing emergency measures to contain the spread of a deadly strain of bird flu--which has already led to the deaths of millions of birds and 60 people in Asia--after confirmation that it has arrived inside the EU's...

A rather convenient suicide.
October 18, 2005... Syria's interior minister, Ghazi Kanaan--who was recently questioned by UN investigators over the assassination of Lebanon's former prime minister--has been found shot dead in his office. President Bashar Assad may consider his minister's...

Caucasian dominoes.(gun-battles in Nalchik of Russia)(Vladimir Putin's efforts failed to bring back peace in the troubled region)
October 18, 2005... Gunmen have attacked government posts in a town in southern Russia. As havoc spreads from Chechnya to another part of the north Caucasus President Vladimir Putin's efforts to bring the troubled region under control look less successful than...

Hopes rise of a "yes" to Iraq's constitution; Iraq's referendum; It looks like a "yes".
October 18, 2005... As vote-counting continues following Saturday's surprisingly calm referendum on Iraq's proposed new constitution, it is looking ever more likely that opponents will not have mustered enough votes to block it. However, despite last-minute...

The spreading bird-flu menace reaches Europe; The bird-flu epidemic; A spreading menace arrives in Europe.
October 18, 2005... European countries are taking emergency measures to contain the spread of a deadly strain of bird flu--which has already led to the deaths of millions of birds and 60 people in Asia--after confirmation that it has arrived inside the EU's...

A temporary fix for GM; General Motors' big cost-cutting plan; A temporary fix.
October 18, 2005... As the same time as reporting losses that were worse than the gloomiest expectations, General Motors has announced a breakthrough in negotiations with its unions that will reduce the firm's crippling health-care liabilities. But GM is likely to...

A hole in the middle.(Freedom Rings L.L.C. filed for bankruptcy)(credit cards delinquency)(high yield bonds)
October 18, 2005... Most financial assets have become "priced for perfection" during an extraordinarily benign period for credit. Late-breaking news: imperfection is at the gates A POPULAR weekend destination for those members of the Family Buttonwood (all...

The spreading bird-flu menace reaches Europe; The bird-flu epidemic; A spreading menace arrives in Europe.
October 19, 2005... European countries are taking emergency measures to contain the spread of a deadly strain of bird flu--which has already led to the deaths of millions of birds and 60 people in Asia--after confirmation of its arrival in Romania and Turkey, and...

A temporary fix for GM; General Motors' big cost-cutting plan; A temporary fix.
October 19, 2005... As the same time as reporting losses that were worse than the gloomiest expectations, General Motors has announced a breakthrough in negotiations with its unions that will reduce the firm's crippling health-care liabilities. But GM is likely to...

Saddam in the dock as Iraq counts its ballots.(Saddam Hussein)
October 19, 2005... Iraq's deposed dictator, Saddam Hussein, has gone on trial, pleading not guilty to crimes against humanity over a massacre in 1982. The trial--the first of several he may face--comes as votes are being counted following last weekend's...

The spreading bird-flu menace reaches Europe; The bird-flu epidemic; A spreading menace arrives in Europe.
October 20, 2005... European countries are taking emergency measures to contain the spread of a deadly strain of bird flu--which has already led to the deaths of millions of birds and over 60 people in Asia--after its arrival in Russia, Romania, Turkey and...

GM and Ford in need of a big overhaul.
October 20, 2005... General Motors and Ford have both reported heavy losses. GM has also announced a breakthrough in negotiations with its unions that will reduce the firm's crippling health-care liabilities, while Ford says "significant" plant closures are on the...

A damning finger points at Syria's regime; The UN report on who killed Lebanon's former leader; The finger points at Syria.
October 21, 2005... The UN's investigation into the assassination in February of Rafik Hariri, a former prime minister of Lebanon, has pointed a finger at the regime of Syria's President Bashar Assad. But America and other powers will have to think carefully about...

Loosening EDF's grip on power; Privatising France's electricity giant; The government tentatively loosens EDF's grip on power.
October 24, 2005... France's government has defied its powerful unions and announced the partial privatisation of Electricite de France. But selling a mere 15% of the giant utility risks infuriating workers without freeing the company sufficiently to compete with...

A damning finger points at Syria's regime; The UN report on who killed Lebanon's former leader; The finger points at Syria.
October 25, 2005... The UN's investigation into the assassination in February of Rafik Hariri, a former prime minister of Lebanon, has pointed a finger at the regime of Syria's President Bashar Assad. But America and other powers will have to think carefully about...

EDF's highly charged sale; Privatising France's electricity giant; The government loosens its grip on power.
October 25, 2005... France's government has defied its powerful unions and announced the partial privatisation of Electricite de France. But selling a mere 15% of the giant utility risks infuriating workers without freeing the company sufficiently to compete with...

Bernanke steps into Greenspan's big shoes; Greenspan's successor; Bernanke's turn to steer America's economy.
October 25, 2005... President George Bush has nominated Ben Bernanke to succeed Alan Greenspan as chairman of the Federal Reserve. The new man has big shoes to fill--and plenty of economic challenges to address "I USED to think if there was reincarnation I...

Hopeful signs across the Balkans; The Balkans; Starting talks on Kosovo's future amid signs that the region may be turning a corner.(economy, autonomy and independence of Kosovo)
October 25, 2005... The UN Security Council has given its approval to talks on the future status of Kosovo. But with Serbs and Albanians unlikely ever to agree on whether independence or autonomy is best for the province, a solution will have to be imposed,...

Every which way but down.(currency analysis, economic conditions forecast)
October 25, 2005... America's currency has strengthened this year, defying huge current-account and fiscal deficits. The Fed's new chairman will have a lot to do with whether it continues to rise IT BEATS the Oscars any day. For months, markets have been...

Now for the hard part; Iraq's constitution ratified; The country as a whole says yes, but the Sunni naysayers must now be brought on board.
October 25, 2005... Iraq's voters have approved its constitution in a referendum, though the vote closely reflected the country's sectarian divisions. Will the process that is now set to begin draw disaffected Sunnis away from the insurgency and into politics? ...

A damning finger points at Syria's regime; The UN report on who killed Lebanon's former leader; The finger points at Syria.
October 26, 2005... The UN's investigation into the assassination in February of Rafik Hariri, a former prime minister of Lebanon, has pointed a finger at the regime of Syria's President Bashar Assad. But America and other powers will have to think carefully about...

Hopeful signs across the Balkans; The Balkans; Starting talks on Kosovo's future amid signs that the region may be turning a corner.(economy, autonomy, and independence of Kosovo)
October 26, 2005... The UN Security Council has given its approval to talks on the future status of Kosovo. But with Serbs and Albanians unlikely ever to agree on whether independence or autonomy is best for the province, a solution will have to be imposed,...

Now for the hard part; Iraq's constitution ratified; The country as a whole says yes, but the Sunni naysayers must now be brought on board.
October 26, 2005... Iraq's voters have approved its constitution in a referendum, though the vote closely reflected the country's sectarian divisions. Will the process that is now set to begin draw disaffected Sunnis away from the insurgency and into politics? ...

Betting on Ben; Greenspan's successor at the Fed; Betting on Ben to steer America's economy.
October 27, 2005... The likely new chairman of America's Federal Reserve Board is a first-rate academic. Will he be a similarly good central banker? FOUR years ago, Ben Bernanke was a professor of economics at Princeton whose policymaking experience consisted...

When growth and social protections clash.
October 27, 2005... Tony Blair wants Europe's leaders to back reforms that would make the region's economies more dynamic. But there is still deep disagreement over how best to balance growth and social cohesion "A COMMITTEE", said science-fiction writer...

A grim reckoning; Final report on the UN oil-for-food scandal; Volcker wraps it up by naming names.
October 27, 2005... The Volcker committee has issued its final report on the UN-administered oil-for-food programme in Iraq, and it makes for grim reading: kickbacks were paid in connection with the contracts of over 2,000 companies. National prosecutors may now...

When growth and social protections clash.
October 28, 2005... Tony Blair wants Europe's leaders to back reforms that would make the region's economies more dynamic. But there is still deep disagreement over how best to balance growth and social cohesion "A COMMITTEE", said science-fiction writer...

A grim reckoning; Volcker's final report on the oil-for-food scandal; Wrapping it up by naming names.
October 28, 2005... The Volcker committee has issued its final report on the UN-administered oil-for-food programme in Iraq, and it makes for grim reading: kickbacks were paid in connection with the contracts of over 2,000 companies. National prosecutors may now...

Indictment reaches the White House; The Valerie Plame affair; Scooter in the dock, Rove safe for now.
October 30, 2005... A grand jury has indicted Lewis "Scooter" Libby for misleading an investigation into the unmasking of a CIA agent. The White House will feel the pain, though Karl Rove is safe for now IT HAS been like Chinese water torture for both backers...

A grim reckoning; Volcker's final report on the oil-for-food scandal; Wrapping it up by naming names.
October 31, 2005... The Volcker committee has issued its final report on the UN-administered oil-for-food programme in Iraq, and it makes for grim reading: kickbacks were paid in connection with the contracts of over 2,000 companies. National prosecutors may now...

Delhi, and the Indo-Pakistani peace process, under attack; Delhi under attack; And so is India's peace process with Pakistan.
October 31, 2005... Three bombs that exploded in Delhi within 30 minutes of each other have killed more than 60 people and put 200 in hospital. Police say their prime suspects for the terrorist attack are groups fighting Indian rule in Kashmir, where India and...

Telefonica looks to Europe; Telefonica agrees to buy Britain's O2; Changing tack--and, perhaps, helping to inflate another bubble.
October 31, 2005... Telefonica, Spain's leading telecoms firm, has agreed to buy O2, a big British mobile operator--though, with other firms also interested, a bidding war may be in prospect. As Europe's phone companies replenish their stocks of cash after some...

After his toughest week, Bush comes out fighting.
October 31, 2005... George Bush has nominated a staunch conservative, Samuel Alito, to the Supreme Court. He does so immediately after the toughest political week of his presidency, with his approval ratings at their lowest level in five years. Will seeking a...