In a move that took the world by surprise, North Korea declared on Wednesday that it would suspend its nuclear program. This includes uranium enrichment activities, nuclear weapon tests and all facilities related to the program. It has further agreed to International monitoring at its main Yongbyon nuclear complex. In exchange, North Korea would receive 240,000 tons of nutritional assistance from the United States.
It is believed that the aid would include beans, vegetable oils, corn-soy blend including ready-to-eat food. It has been confirmed that the distribution of food would be carried out under intensive monitoring to ensure that it reaches hungry civilians instead of North Korean military or government elites.
Putting a stop to North Korea nuclear program has been a long-time agenda of the United States. The effort gained momentum during the tenure of former President George W. Bush four years ago only to fizzle out in the later years. Wednesday’s development has finally ended a diplomatic stand-off between North Korea and the United States.
Late last year, the demise of Kim Jong-il and accession of Kim Jong II to power grabbed the attention of the globe. Since then the world has been watching with interest to see if the change in guard would bring any policy change in North Korea. It is only recently Mr. Kim has gone on verbal offensive against South Korea. His complete volte-face has surprised the world.
For the latest North Korea nuclear agreement to be successful, much is dependent on the commitment of Kim Jong II. He not only has to ensure that the country’s current nuclear program is scrapped, but also International Atomic Energy Agency (IAEA) nuclear experts get unrestricted access to Yongbon nuclear complex in North Korea.
Wednesday, February 29, 2012
Tuesday, February 28, 2012
Nations warn Syrian government to declare truce or face trial
In a major development, governments across the globe, through their diplomats, are trying to press on President Bashar-Al-Assad of Syria to immediately stop violent crackdown on civilians. Till now, indiscriminate bombarding and firing by Syrian forces have taken the death toll to well above 7500. The Human Rights Commissioner of the United Nations’, Navi Pillay, has cautioned that if situation does not improve, the government of Syria would face International Criminal Court proceedings in the near term.
The United States state secretary Hillary Clinton has also condemned the action of Syrian government on Tuesday. She suggested that President Assad to be declared a war criminal or at least be forced to step down from power.
It is reported that months of government blockades have made life miserable, particularly in the cities of Homs and Hama. Essentials such as food, medical supplies and water have become scarce. With Syria crisis showing no sign of improving, there is little choice for people in both the cities between overflowing hospitals and makeshift clinics.
The United States state secretary Hillary Clinton has also condemned the action of Syrian government on Tuesday. She suggested that President Assad to be declared a war criminal or at least be forced to step down from power.
It is reported that months of government blockades have made life miserable, particularly in the cities of Homs and Hama. Essentials such as food, medical supplies and water have become scarce. With Syria crisis showing no sign of improving, there is little choice for people in both the cities between overflowing hospitals and makeshift clinics.
Sunday, February 26, 2012
Syria goes to poll on new constitution amid incessant violence
Syria went to poll on major constitutional changes on Sunday as reports of violence continued to come from various parts of the country, particularly Homs. The highlight of the new constitution is the introduction of multi- party election system in Syria which is a marked shift from political monopoly of Baath party. Interestingly, the Baath party led by Al-Assad family has been in power in Syria for almost four decades.
On the Election Day, over 13,000 polling booths were set up for 14.6 million voters across the country. The state-owned television broadcasted people casting their ballots in Damascus, Lebanon and other parts of Syria. President Bashar-Al-Assad was also seen casting his vote. People were urged to participate in Syria poll to show their support for Assad government fighting the so-called “insurrection”. However, there were also reports of people boycotting election in Al-Ma’adamiah, Southern Damascus, despite heavy security presence.
The opposition activists and skeptics see the proposed parliamentary changes as nothing but superficial and not sufficient to address the real issue. They want President Assad to step down from power. On the polling day, there has been dozens of death reported from all over Syria. A recent UN report has estimated the death toll to be around 5400. Results of Syria referendum is expected on Monday.
On the Election Day, over 13,000 polling booths were set up for 14.6 million voters across the country. The state-owned television broadcasted people casting their ballots in Damascus, Lebanon and other parts of Syria. President Bashar-Al-Assad was also seen casting his vote. People were urged to participate in Syria poll to show their support for Assad government fighting the so-called “insurrection”. However, there were also reports of people boycotting election in Al-Ma’adamiah, Southern Damascus, despite heavy security presence.
The opposition activists and skeptics see the proposed parliamentary changes as nothing but superficial and not sufficient to address the real issue. They want President Assad to step down from power. On the polling day, there has been dozens of death reported from all over Syria. A recent UN report has estimated the death toll to be around 5400. Results of Syria referendum is expected on Monday.
Saturday, February 25, 2012
How different is Syria unrest from recent Arab uprisings?
As the death toll rises in Syria, diplomacy fails and call for help intensifies, for the first time countries of the world are at a loss regarding how best to handle Syria crisis. Unlike other countries Libya, Yemen, Egypt or Tunisia where the autocrat rulers were overthrown by the people of their country, toppling the current regime in Syria presents some unique problem.
While many believe that the Syria unrest would eventually make the Bashar-Al-Asaad government to step down from power, but not everyone is buying into the idea. Since the onset of revolution and President Assad unleashed crackdown on protestors, there is something unique going on in Syria. This is the proxy war that the larger powers in the world are reported to be engaged in with each other (due to geopolitical proximity or business stakes) in Syria. This means if the current regime is toppled, this may divide the world.
For many years, Syrian regimes have shared closed ties with Russia and Iran and allowed them to extend business interest into their country. On the other hand, they have also maintained fairly good relationship with the United States and a stable one with the neighboring Israel. But the gross human rights violations in Syria have put the United States against Russia and China who are against foreign military intervention.
Also, unlike rebels in Libya who were unified and used to have a strong hold in Bengazi, protestors in Libya are scattered and unorganized. This has made them an uncertain entity and therefore rules out support from outside, especially with artillery or machines.
Finally, as opposed to other Arab uprisings, especially in Egypt, the Bashar-Al-Asaad regime has the backing of its army. The Syrian army is powerful, modern and unified as compared to its Libyan counterparts. It is also being said that Asaad still enjoys some support in Syria. This makes an outright military intervention in Syria highly unlikely.
While many believe that the Syria unrest would eventually make the Bashar-Al-Asaad government to step down from power, but not everyone is buying into the idea. Since the onset of revolution and President Assad unleashed crackdown on protestors, there is something unique going on in Syria. This is the proxy war that the larger powers in the world are reported to be engaged in with each other (due to geopolitical proximity or business stakes) in Syria. This means if the current regime is toppled, this may divide the world.
For many years, Syrian regimes have shared closed ties with Russia and Iran and allowed them to extend business interest into their country. On the other hand, they have also maintained fairly good relationship with the United States and a stable one with the neighboring Israel. But the gross human rights violations in Syria have put the United States against Russia and China who are against foreign military intervention.
Also, unlike rebels in Libya who were unified and used to have a strong hold in Bengazi, protestors in Libya are scattered and unorganized. This has made them an uncertain entity and therefore rules out support from outside, especially with artillery or machines.
Finally, as opposed to other Arab uprisings, especially in Egypt, the Bashar-Al-Asaad regime has the backing of its army. The Syrian army is powerful, modern and unified as compared to its Libyan counterparts. It is also being said that Asaad still enjoys some support in Syria. This makes an outright military intervention in Syria highly unlikely.
Friday, February 24, 2012
International Red Cross humanitarian aid finally reaches Syria
After weeks of atrocities, Bashar-Al-Assad regime gave in to heightened pressure from prominent world leaders and allowed medical help to reach Syria on Friday. Volunteers of Red Crescent have already evacuated seven wounded from the captive city of Homs to Syria’s Al Amin Hospital. They have also managed to shift twenty other unhurt Syrians to safety.
The beginning of evacuation has provided some measure of relief to ordinary Syrians who have been held captive for days under intense shelling and gun fire. The Red Cross has expressed that they would request Syrian authorities for a two-hour break each day to carry out humanitarian aid in the affected parts of the country, including Homs. It has further stated that their relief work would include every sick and injured in Syria who needs medical attention.
Red Crescent vehicles are to reach Syria to start evacuation of all foreign journalists who have entered the country incognito. It has been claimed that an armed group in Syria has refused to hand over bodies of two slain journalists and an injured one to the International rescue team unless ordinary Syrians are taken to safety.
But the immediate challenge before the humanitarian aid workers in Syria are reaching out to people with food and medical help which are of real scarcity. Even if shelling stops, the horrors of Syria crisis is going to take years to come before it starts disappearing from the mind of its people.
The beginning of evacuation has provided some measure of relief to ordinary Syrians who have been held captive for days under intense shelling and gun fire. The Red Cross has expressed that they would request Syrian authorities for a two-hour break each day to carry out humanitarian aid in the affected parts of the country, including Homs. It has further stated that their relief work would include every sick and injured in Syria who needs medical attention.
Red Crescent vehicles are to reach Syria to start evacuation of all foreign journalists who have entered the country incognito. It has been claimed that an armed group in Syria has refused to hand over bodies of two slain journalists and an injured one to the International rescue team unless ordinary Syrians are taken to safety.
But the immediate challenge before the humanitarian aid workers in Syria are reaching out to people with food and medical help which are of real scarcity. Even if shelling stops, the horrors of Syria crisis is going to take years to come before it starts disappearing from the mind of its people.
Thursday, February 23, 2012
Kofi Annan chosen special UN emissary to Syria
In a major development, the United Nations is reported to have nominated Kofi Annan, the ex-United Nations Secretary, to be its special envoy to address the ongoing crisis in Syria. As the United Nations facilitator, Kofi Annan’s task is clearly cut out. He would convince the Bashar-Al-Asaad regime to come to a peace agreement and prevent the country from going into an all-out civil war.
Incidentally, this is the third time the United Nations is trying to prevent President Assad of Syria from waging violent attacks on its people and make him step down from power. The previous two attempts have been unsuccessful.
It has been confirmed that the Ghanian diplomat would widely engage with prominent interlocutors both within and outside the country to diffuse Syria crisis. The UN is depending on Kofi Annan’s persuasion skill to make President Assad put a halt to ongoing bloodshed in Syria.
The United Nations, for its part, has given a lot of thought in picking Kofi Annan as special emissary to Syria. It is believed that his non-Arab background plus distinguished career gives him an edge over others. So far, an estimated 5400 deaths have been attributed to incessant killing by its security force in Syria.
Incidentally, this is the third time the United Nations is trying to prevent President Assad of Syria from waging violent attacks on its people and make him step down from power. The previous two attempts have been unsuccessful.
It has been confirmed that the Ghanian diplomat would widely engage with prominent interlocutors both within and outside the country to diffuse Syria crisis. The UN is depending on Kofi Annan’s persuasion skill to make President Assad put a halt to ongoing bloodshed in Syria.
The United Nations, for its part, has given a lot of thought in picking Kofi Annan as special emissary to Syria. It is believed that his non-Arab background plus distinguished career gives him an edge over others. So far, an estimated 5400 deaths have been attributed to incessant killing by its security force in Syria.
Wednesday, February 22, 2012
Western Journalists become casualties in Syria shelling
Heavy shelling which has become a way of life in Syria under the Bashar-Al-Assad regime and particularly in the city of Homs is now on its 19th day. And on the day alone, there has been about 60 civilian deaths reported all across Syria along with death of two foreign journalists. The journalist duo has been covering mass atrocities caused by the Syrian troops. They are 56-year-old Marie Colvin, a veteran American correspondent, with the Sunday Times of London and a 28-year-old French photographer in the name of Remi Ochlik.
The day saw rockets and bombs continuously being hurled on rebel-held areas of Homs. The temporary media center which the two reporters were using as their base has also been destroyed in the bombing. It is being suspected that satellite signals might have been used to trace the location of the media center.
From the beginning, the Al-Assad government has been trying to suppress the Syrian uprising by coercion and prevent national and International media from covering it. It has also been trying to give it the name of ‘armed insurgency’. In spite of threat to their lives both Syrian and foreign journalists are working incognito in Syria to report the happenings to the world.
The death of journalists duo and thousands of civilian casualties in Syria has sparked world outrage towards the government of Damascus. The International Red Cross is hoping that the journalists’ killing would now turn the attention of the whole world towards the sufferings of innocent Syrians. Earlier the International Red Cross has also requested the Syrian government for permission to bring medical help to the worst affected areas in the country and save civilian lives.
The day saw rockets and bombs continuously being hurled on rebel-held areas of Homs. The temporary media center which the two reporters were using as their base has also been destroyed in the bombing. It is being suspected that satellite signals might have been used to trace the location of the media center.
From the beginning, the Al-Assad government has been trying to suppress the Syrian uprising by coercion and prevent national and International media from covering it. It has also been trying to give it the name of ‘armed insurgency’. In spite of threat to their lives both Syrian and foreign journalists are working incognito in Syria to report the happenings to the world.
The death of journalists duo and thousands of civilian casualties in Syria has sparked world outrage towards the government of Damascus. The International Red Cross is hoping that the journalists’ killing would now turn the attention of the whole world towards the sufferings of innocent Syrians. Earlier the International Red Cross has also requested the Syrian government for permission to bring medical help to the worst affected areas in the country and save civilian lives.
Tuesday, February 21, 2012
Iran denies UN inspection to its site
In a latest report on Tuesday, the International nuclear inspectors sent to collect latest status about Iran’s nuclear program have left the country without any success. The IAEA team (International Atomic Energy agency), reportedly have spent two days trying to persuade authorities in Tehran but failed as they were denied entry to its military base at Parchin. This is the second time Iran has denied UN nuclear inspection. The agency would announce its latest report on Iran’s nuclear program in the coming week.
West suspects Iran of using the site for building nuclear weapons. On its part, Iran has repeatedly claimed that its nuclear programs are meant for only civilian purposes. Iran has justified its present stand stating that in the past it has allowed access to its nuclear-related site. But since Parchin was its military base, it is off limit to outsiders.
Iran’s denial to International inspection is likely to escalate tension in the region. The tension is further heightened by the fact that Iran has also threatened to strike first in case of possible external attack from its enemies to protect its national interest.
West suspects Iran of using the site for building nuclear weapons. On its part, Iran has repeatedly claimed that its nuclear programs are meant for only civilian purposes. Iran has justified its present stand stating that in the past it has allowed access to its nuclear-related site. But since Parchin was its military base, it is off limit to outsiders.
Iran’s denial to International inspection is likely to escalate tension in the region. The tension is further heightened by the fact that Iran has also threatened to strike first in case of possible external attack from its enemies to protect its national interest.
Monday, February 20, 2012
Greece set to get $172 Billion in second bailout
After more than 12-hour long meeting that stretched till Tuesday early hours, Eurogroup Finance ministers are all set to declare a whopping €130 billon (equivalent to 170 billion dollars) towards Greece’s second bailout. It is believed that the bailout amount would help Greece in avoiding short-term default and also bringing down its debt to sustainable 120.5 percent of GDP (gross domestic product) by 2020.
Though the final details of the deal is yet to be released, it has been reported that the private investors of Greek government bonds have finally accepted loss exceeding 50 percent (on face value). It is estimated that the loss on bond face value could go up to 53 percent, bringing total loss to up to 75 percent for private investors.
Currently the economy of Greece is into its five long years of recession. Its sovereign debt is at 160% of GDP. Since approving the latest austerity pact by the parliament, the country has seen some of the worst protests in recent months. While doubts still remain about how stringent rate cuts would address the long term issue of debt crisis, Eurozone leaders would be relieved that the money would help Greece in staving off immediate crisis.
Though the final details of the deal is yet to be released, it has been reported that the private investors of Greek government bonds have finally accepted loss exceeding 50 percent (on face value). It is estimated that the loss on bond face value could go up to 53 percent, bringing total loss to up to 75 percent for private investors.
Currently the economy of Greece is into its five long years of recession. Its sovereign debt is at 160% of GDP. Since approving the latest austerity pact by the parliament, the country has seen some of the worst protests in recent months. While doubts still remain about how stringent rate cuts would address the long term issue of debt crisis, Eurozone leaders would be relieved that the money would help Greece in staving off immediate crisis.
Sunday, February 19, 2012
Pressure mounts on EU to seal Greek bailout deal
Following last week’s bumpy starts over second bailout to Greece, Eurozone finance ministers are pressing ahead to give their final approval to the € 230 billion emergency fund. Time is of crucial factor as Greece has to make € 14.5 billion bond repayment before March 20th or face default. The final meeting that would decide the fate of Greece is scheduled to start at the EU headquarter 1430 GMT onwards on Monday.
Such is the desperation that Premier Lucas Papademos of Greece has already reached Brussels to hold talks with other European leaders. It is believed that the presence of the Greek Prime Minister would lend more weightage to the loan talk. Earlier, Germany had expressed its reluctance on the latest bail-out package to Greece.
The latest deal expects private sector government bond holders to swap their existing old bonds with new bonds. This would bring down the current bond value to about 30 percent. To make it compulsory, the government of Greece is set to pass a new bill this week which would force the bond holders to accept the rate cuts on bonds if they don’t agree volutarily to the new agreement. Besides, a string of other austerity cuts and reforms are waiting to be announced in Greece before the end of this month to appease the concern of its International financial backers.
Such is the desperation that Premier Lucas Papademos of Greece has already reached Brussels to hold talks with other European leaders. It is believed that the presence of the Greek Prime Minister would lend more weightage to the loan talk. Earlier, Germany had expressed its reluctance on the latest bail-out package to Greece.
The latest deal expects private sector government bond holders to swap their existing old bonds with new bonds. This would bring down the current bond value to about 30 percent. To make it compulsory, the government of Greece is set to pass a new bill this week which would force the bond holders to accept the rate cuts on bonds if they don’t agree volutarily to the new agreement. Besides, a string of other austerity cuts and reforms are waiting to be announced in Greece before the end of this month to appease the concern of its International financial backers.
Thursday, February 9, 2012
Greece austerity deal reaches an impasse over pension cuts
As leaders in Greece are trying to work around the new austerity proposal, one last hurdle has come in the way of its success early Thursday. What is at issue is the proposed cut in supplementary pensions, which has put a temporary halt on the ongoing negotiations between Greece Premier Lucas Papademos government and its foreign creditors.
After the 7-hour long meeting, it is officially confirmed that an agreement has been reached on all issues including the controversial 22% reduction in minimum wages, saving the one that proposes pension cuts. However, leaders are hopeful that they would still hammer out a compromise before the Eurogroup Finance ministers’ meeting in Brussels on Thursday.
The 50-page loan agreement proposed by its overseas financial backers is due to receive formal seal from the Greece cabinet sometime today, failing which Greece could be in a messy default without €130 bn bail-out fund. On the other hand, with elections in Greece expected as early as in May, political parties are in a dilemma whether or not to back the proposed pension cut as it is going to affect low-income groups and elderly.
With austerity talk coming to a halt in Greece, the attention is shifted on the Eurozone meeting in Brussels and its outcome.
After the 7-hour long meeting, it is officially confirmed that an agreement has been reached on all issues including the controversial 22% reduction in minimum wages, saving the one that proposes pension cuts. However, leaders are hopeful that they would still hammer out a compromise before the Eurogroup Finance ministers’ meeting in Brussels on Thursday.
The 50-page loan agreement proposed by its overseas financial backers is due to receive formal seal from the Greece cabinet sometime today, failing which Greece could be in a messy default without €130 bn bail-out fund. On the other hand, with elections in Greece expected as early as in May, political parties are in a dilemma whether or not to back the proposed pension cut as it is going to affect low-income groups and elderly.
With austerity talk coming to a halt in Greece, the attention is shifted on the Eurozone meeting in Brussels and its outcome.
Tuesday, February 7, 2012
Austerity talk postpones as Greece goes on strike
In a major development, the union members in Greece has threatened to go on a nation-wide, day-long strike on Tuesday. This includes members of civil servants as well as private-sector workers who are already frustrated by two years of austerity and are against more stringent reforms that will dent a bigger hole in their earnings. The strike has delayed Greek government’s attempt to reach a final decision on revised austerity plan to Wednesday. Incidentally, this is the second time that the government of Greece has failed to meet the deadline.
As Greece prepares for a long haul, its leaders are striving hard to strike a balance between reform demands (by its private eurozone creditors) and the need to retain public support, especially with the elections coming later in 2012. Greece is desperately seeking a second €130 billion rescue fund from its private International creditors to repay a € 14.4 billion bond redemption due in March.
The troika of private creditors to Greece, that includes IMF, ECB and the European Commission, are relentlessly pressing for increase in tax, further cut in spending and wage cuts. The new threat has rattled Greece’s middle class who are already facing the heat from closing down of businesses, high unemployment rate and severe money crunch.
As Greece prepares for a long haul, its leaders are striving hard to strike a balance between reform demands (by its private eurozone creditors) and the need to retain public support, especially with the elections coming later in 2012. Greece is desperately seeking a second €130 billion rescue fund from its private International creditors to repay a € 14.4 billion bond redemption due in March.
The troika of private creditors to Greece, that includes IMF, ECB and the European Commission, are relentlessly pressing for increase in tax, further cut in spending and wage cuts. The new threat has rattled Greece’s middle class who are already facing the heat from closing down of businesses, high unemployment rate and severe money crunch.
Sunday, February 5, 2012
Pressure mounts on Greece to step up austerity measures
In a bid to pacify foreign lenders, the government of Greece has agreed to new spending cuts on Sunday. Though this may not unlock €130 billion bail-out fund Greece desperately needs to stave off bankruptcy, but it has kept open dialogues to resume on Monday. The troika of foreign lenders that have mounted pressure on Greek government are the European Central Bank (ECB), the European Commission and the International Monetary Fund (IMF).
The announcement was made on Sunday after a five-hour long meeting led by Greek Premier Lucas Papademos along with leaders of three main parties. In the meeting it was decided to bring down Greek spending by 1.5 percent of GDP in 2012 through various such measures as wage cuts, reduction in supplemental pensions, cut in social security contributions and bank recapitalization plan, etc.
Though the leaders of coalition government have broadly agreed on new austerity measures, consensus has to be reached on finer points. The troika of foreign creditors has put forward a slew of demands in exchange for fresh release of €130 billion Greek rescue fund. Important among them are – public sector workforce to be reduced to 1,50,000, cut in supplemental pensions, wage cuts in private sectors, etc. With unemployment hovering at around 19 percent and the country already in recession, it is certainly not going to be easy for Greek government to push through more stringent economic policies.
The announcement was made on Sunday after a five-hour long meeting led by Greek Premier Lucas Papademos along with leaders of three main parties. In the meeting it was decided to bring down Greek spending by 1.5 percent of GDP in 2012 through various such measures as wage cuts, reduction in supplemental pensions, cut in social security contributions and bank recapitalization plan, etc.
Though the leaders of coalition government have broadly agreed on new austerity measures, consensus has to be reached on finer points. The troika of foreign creditors has put forward a slew of demands in exchange for fresh release of €130 billion Greek rescue fund. Important among them are – public sector workforce to be reduced to 1,50,000, cut in supplemental pensions, wage cuts in private sectors, etc. With unemployment hovering at around 19 percent and the country already in recession, it is certainly not going to be easy for Greek government to push through more stringent economic policies.
Subscribe to:
Posts (Atom)
