Fernando Fuster-Fabra's Blog

G-8 & NATO MEETS, 3 YEARS AFTER

May 20, 2012
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Strolling together down the wrong path?

The main dangers in this life are the people who want to change everything  

 – or nothing.

 

–       Nancy Astor

 

On April 19, 2009 I published my first post in my English WordPress.com blog http://wp.me/pv6EY-1  among others things stating:

“As it stands today, European Union leaders seek proof that America has the willpower to continue occupying world supremacy in more than military alliances such as 60-year old NATO or world organisms as the United Nations, the IMF or the World Bank. In effect, there is a rather increasing incredulity emanating from the inefficiency of said organisations in bringing about peace and prosperity to all Mankind in this New Millennium.”

These very words are valid today. President Obama is more worried in ensuring his re-election than facing the hard facts of what has been dubbed as “the 21st. century depression”. After various G-8 summits, the last one at Camp David with Obama as host and the NATO Conference today in Chicago, world leaders will have met firstly wanting to change everything to finally end up doing nothing.

What’s the name of their game?

G-8 summits have lost their sense of being whilst the G-20 version has not even gotten a chance of being somewhat effective.

In Europe, the French-German axis that germinated in the Merkozy Connivance of Deauville is no more. France has elected a new socialist President in the person of Francoise Hollande and his strategy at these meets is yet to be seen. In the USA, no stand will be taken before the Obama-Romney presidential bout is over. Meanwhile the world is not at a standstill and the financial sharks are making one killing after another. The crisis goes on and quality of living where there was is eroding.

Then we have the military pulse at the NATO summit where issues will likewise remain unresolved due to the US-Pakistan estrangement.

As a new business week starts off tomorrow, the stock exchange markets will again speculate round and about the doubtful rating reports of the biased agencies and the partial media. The powerful shall become even richer and more dominant whilst the impoverished will have to find consolation on a daily wage of a couple of dollars.

In no way has deserved the Nobel Prize he was awarded just as in no way have today’s world leaders demonstrated that they have merits to manage the destiny of Mankind.

Honestly, I suspect that none of them, not even the all-powerful President of the United States governs in the name of democracy and for the people. I suspect they are mere puppets with their strings attached to vested interests in this sad vaudeville of the New Millennium.

Fernando Fuster-Fabra

Barcelona    

 

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EUROPE’S UNION IN THE CROSSROADS: DO OR DIE

November 15, 2011
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Problems cannot be solved by the same level of thinking that created them.

–       Albert Einstein

 

 

 

 

Spanish version:  http://wp.me/pRlnf-4D

 

The G-20 Summit of world leaders was held in Cannes a few days ago. As expected, no decisions were taken to resolve the economic crisis that affects the stability of a great number of countries. Not a word was said about establishing restrictions to speculative abuses that crop up based on ratings of agencies prone to cause alarm with their presumptions. Assisting the summit were the principal European leaders representing the EU as well as Germany, France, Italy and United Kingdom as full-pledged members, with Spain and The Netherlands as guests.

Just a few miles away, in Brussels, the Greek crisis with a call for referendum warning and the forthcoming Italian tempest had been left unsolved. Today, the Greek crisis remains unsolved although Greece’s elected Prime Minister (Papandreou) has had to step down and a new one (Papademos) appointed in his place without any elections.  Something similar went on in Italy just a few hours ago, with the forced resignation of Berlusconi after the approval of the demanded reforms and the appointment of Monti to replace him.

Two new figures, not elected by their respective citizens, assume their respective tasks; technocrats, as they are called, but without analysing their close links to the financial structures that, in my opinion, have been the root of this entire regrettable situation. Lukas Papademos was Vice-President of the ECB from 2002 till 2008 when Jean Claude Trichet was President whilst Mario Monti not only was a European Commissioner but also a consultant of the notorious American bank, Goldman Sachs.

Furthermore, in November, the turnover at the ECB has also taken place, with an Italian, Mario Draghi, taking over the chair occupied by Trichet from 2003 till late October. He is another figure related to the bank (Goldman Sachs) that caused more than a single financial quake, amongst which it is worth mentioning its advisory role to the Greek Government in the times of the conservative, Kostas Karamanlis, precisely when the state accounts were falsified in the reports to Brussels.

The irony of this entire circus is that a legitimately elected Papandreou was forced out of office for calling a referendum to approve his proposals but no one has said a word about prosecuting neither Karamanlis nor Goldman Sachs por having intentionally lied, causing the domino effect on the weaker Eurozone economies.

Thus, not only has a chance been lost in Cannes to set up global regulating and supervisory measure of the larger banking entities as well as the rating agencies but also it has allowed a slow transfer of previous bank executives and personalities linked to these entities to occupy relevant posts in the hierarchical big-shots of the EU and in the government of its member states.

Likewise, the American stance has taken a 360 degree change from Pittsburgh to Cannes. With elections in 2012, Obama does not wish to risk any confrontation with potential donors for his campaign funds, amongst which we may mention the larger U.S. banks and the powerful Jewish lobby. He abandons Europe to its fate, above all because he does not share the curt German stance in some questions of procedure and timing. Not even the goodwill efforts of the French President and proud father of a baby girl served to ease the tense atmosphere. Furthermore, Obama is aware that in spite of the Euro crisis, the currency has a strong quotation, benefitting the U.S. Dollar and facilitating its exports to the Old Continent while decreasing European countries competitiveness in world trade.

What seems to have gone unnoticed in all this week of European tension after the Cannes summit is that Munich  prosecutors ordered a search in the Deutsche Bank offices in relation to the famous ‘Kirch affaire’. In spite of the death of communications magnate, Leo Kirch, the lawsuit against Deutsche Bank continues its course, with outgoing CEO, Josef Ackerman, in the midst of the storm. The matter must have been of such importance that Ackerman announced his decision not to seek the appointment to the bank’s presidency, a rather difficult manoeuvre after the German banking law reforms in 2009. Said reforms establish a two-year grace period before a former CEO can aspire to the presidential post of a bank, with the only exception that 25% of the stockholders so demanded.

Angela Merkel has covered many inside details of the decisions taken in relation with the German banking system between 2005 and 2011, as well as her personal pact with Gerhard Schröder, with regards such a vital issue as energy, disguised under the so-called ‘grand coalition’. Few are conscious of the of Merkel’s stubborn tenacity that has brought her from that membership in the communist youth movement in her younger years in the extinguished GDR to become ‘my girl’ for conservative, Helmut Kohl. Her rise to power came by pure chance after a scandal caused the downfall of Kohl’s chosen successor, Wolfgang Schäuble, actually the Economic Minister in Merkel’s cabinet.

Perhaps that is the reason that one has given due importance to the very recent announcement of the inauguration of start-up of Operation Nord Stream, the gas pipeline agreed upon between Russia and German, with the blessing of France, The Netherlands and United Kingdom. Said pipeline will go from Vyborg in Russia to Greifswald in Germany in a submarine line across the Baltic Sea. In Russia’s behalf the participations is headed by state-owned Gazprom as natural gas supplier and Nord Stream AG, a German enterprise has been set up to handle constructions and operations. It is interesting to observe that former Prime Minister Schröeder has been involved in the Nord Stream project and with Gazprom since December, 2005, roughly a month after stepping down in favour of Angela Merkel.   

What makes this affair even uglier is the fact that the powerful EU members will share the spoils of Russian gas without sharing a bit with other Baltic member states, namely – Poland, Estonia, Lithuania and Latvia – nor seem to have offered a gas link to the Scandinavian states for the moment. Nevertheless, said gas will indeed go across the English Channel to the United Kingdom.

This project is contrary to the interest of the pan-European Nabucco project which had set the goal of constructing a gas pipeline from Erzurum in Turkey to Baumgarten in Austria, precisely with the intention of breaking EU dependence on Russian gas supply. The problems generated with Gazprom gas supply through Ukraine have left Central Europe and Italy without a reliable supply in more than one occasion whilst Turkey had offered its facilities in a sign of goodwill in its bid to join the EU. Germany has again vetoed a state that has been accumulating more merits to join the EU than some who already are in.

With partners who demand from the south sacrifices but will not share the favourable agreements with other non-EU states, it is no wonder that the Union of 27, each day, is turning into a more difficult endeavour.  In addition, those who impose the terms & conditions interpret the Stability & Growth Pact in such a manner as to oblige members to apply solutions thought out in conventional terms, in precisely the same line as those that created the problem.

Whilst our present-century ‘Medea’ is bossing around in Europe, the route travelled will be the wrong one and the estrangement amongst members each day larger.  How much must we wait before Merkel is sent into exile?     

Fernando Fuster-Fabra

Barcelona, Spain     


CAPITALISM’S CASINO & ITS RIGGED ROULLETTE

October 31, 2011
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I can forgive Alfred Nobel for having invented dynamite, but only a fiend in human form could have invented the Nobel Prize.

–       George Bernard Shaw

 

Versión Español:

http://wp.me/pRlnf-4v

 

I have come to wonder if the witty Bernard Shaw in saying what he said about the Nobel Prize was right, especially after the awards for 2009 (Barack Obama), passing thru 2010 (Liu Xiaobo) to come to 2011 where the award is shared by three women (Ellen Johnson Sirleaf, Leymah Gbowee and Tawakkul Karman) “for their non-violent struggle for the safety of women’s rights to full participation in peace-building work”.

Whereas Barack Obama’s award was premature as time has demonstrated, Liu Xiaobo’s final compensation was a longer jail term in the wake of Western silence; and the three women from Liberia (Ellen Johnson Sirleaf & Leymah Gbowee) and Yemen (Tawakkul Karman) may well have to wait ages before women’s rights, or citizen’s rights for that matter, are respected and full participation given to these in Africa and the Middle East. Much less will it be possible to see peace-building in these parts of the world after the Western blunders in international affairs affecting the countries of those regions.

The world went into an economic descending spiral that commenced with the 2007 U.S. sub-prime crisis and continued with the 2008 Lehman Brothers scandal, dragging the world into an even deeper dilemma – the total absence of ethics in the search for a common solution to our woes.

The Arab Spring that commenced with a bonzo burning of the young Tunisian, Mohamed Bouazizi, in Sidi Bouzid on December 17, 2010, set off a series of protests all over Africa and the Middle East, causing the fall of a number of long-term dictators ruling the region with complacent U.S. and European support. Curiously enough, all the U.S.-E.U. friendly dictators (Ben Ali of Tunisia, Mubarak of Egypt) have saved their necks thus far whilst others (Saleh of Yemen, Algeria’s Bouteflika or Syria’s Assad) continue ruling their territories with uneven Western support. Only one leader, Muammar el-Qaddafi, was assassinated in the hands of the rising political leaders of the ‘liberated Libya’ with NATO bombing support and United Nations sanction, in the name of civilian protection.

Do leaders really think the world is so blind not to see that all of their actions are a mere farce to cover up the fact that this world is governed by vested interests pulling the strings from back-stage?

As in Iraq and Afghanistan, petroleum and other fuels have been in the bulls-eye of all conflicts. The Northern African and Middle East conflagrations are along the same line, with Qaddafi’s elimination vital to cut off any possible leadership against vested interest moves to control the regional energetic resources. Furthermore, tiny conflicts are profitable for large corporations engaged in armament & aircraft technologies; and likewise these are of interest to companies offering their security services in unstable situations all over the world.

The sixth G-20 Summit is scheduled in Cannes November 3 & 4, with French President Nicholas Sarkozy as host. Long past is the first 2008 summit in Washington D.C. where he clamoured for “the re-foundation of capitalism”. Also forgotten, it seems, are U.S. President Obama’s September 8, 2009 statement on the Pittsburgh summit, “… It’s important to note how far we have come in preventing a global economic catastrophe. A year ago, our economy was in a freefall. …. The steps that we have taken to jumpstart growth have also been coordinated with our partners around the world. …. As the leaders of the world’s largest economies, we have a responsibility to work together on behalf of sustained growth, while putting in place the rules of the road that can prevent this kind of crisis from happening again.”

At Cannes, not only has capitalism not been re-founded nor have the world leaders worked together on behalf of sustained growth but also, and most important of all, we have followed a path in the wrong direction that leads to, not prevents, a global socio-economic catastrophe.

Well and good to claim women’s rights for all those who may not still have them all over the world but better still would be to stop once and for all 25,000 daily deaths due to hunger and disease.

How can this be possible in a planet capable of feeding twice its population?

The only answer that comes up to my mind is that we, the anguished citizens of the world, are playing a lopsided betting game in capitalism’s casino, where our meagre resources are up against 1 to a million odds in a vested interests rigged roulette.

Fernando Fuster-Fabra

Barcelona, Spain     


OBAMA’S RETURN TO EUROPE: WHAT IS IN STORE AFTER THE G-20 FLOP?

November 19, 2010
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Sad to say but true, President Obama is not only a questioned leader in the USA but also as a world leader before the eyes of some of his staunch allies, particularly in Europe.

This weekend’s NATO Summit in Lisbon will be the first encounter after the disheartening G-20 performance by the cast of developed & developing nations’ leaders meeting in Seoul. Said summit will be followed by yet another bilateral one between the USA & the EU which may not count with Obama’s presence.

The disheartening results of an ineffective meet such as the one held in Seoul, whereby developed democracies on both sides of the Atlantic succumbed to a subtle Chinese strategy of political abstraction, cannot but have cooled even further already estranged EU-US postures in the economic field. China had its ways at the Seoul summit and as of today has further aggravated economic tensions with the latest communiqué from its central bank by raising its reserve ratio 50 basis points. Furthermore, the Communist Asian superpower has set its protectionist mechanism to curtail foreign investment in Chinese real estate and enterprise as a precautionary measure to avoid speculation.

True to say, the EU’s stance at the G-20 meet wasn’t all that unanimous, with Germany applying pressure on the USA in a similar manner as China but with different tactics. I keep asking myself why both superpowers – the USA on one side and the EU as a whole bloc of 27 state & 500 M population on the opposite side – haven’t yet decided to sit down to draw out a single strategic route for the economic crisis resolution.

The opportunity was missed when the EU-US bilateral summit scheduled in Spain in May was cancelled due to Obama’s overloaded agenda on the home front. Since then, six months have elapsed and the crisis has not only grown in intensity but rather new doubts have been raised as to the best common ground solutions no one seems to venture into.

The NATO encounter will have Afghanistan at the top of the priority list. The US seems more worried about ensuring military backing from the EU partners than solving other issues on hand. Indeed, probably the new common adversary encased in Al Qaeda’s terrorism requires a collective effort in lieu of a defunct ‘cold war’ with the extinct USSR now converted into an ally represented by Russia. Nevertheless, even in this new ‘war against terrorism’, I see a lack of realism in the world leaders’ analysis.

¿Can we forget that China, the emerging superpower with UN veto rights, not only is not a full-pledged democracy but likewise is a traditional sly manipulator of world political tensions in such vital issues as Iran & Korea?

Resolving favourably the Afghanistan issue is yet light years away, if ever a satisfactory solution is feasible on medium term. Yet, NATO members are attending the issue as ‘top priority’ with the presence of a no less insignificant and worthless Karzai. Instead, these nations should be discussing not only a common defence with Russia against ‘international terrorism’ (not only Al Qaeda), which goes from fanatic movements bent on destabilising democracies but also implies ‘economic terrorists’ who are capable of sinking the world into further long-term crises whilst bolstering their unscrupulous enrichment schemes.

While the powerful in economy and the military meet in Lisbon, the Nobel Peace Awards Committee has cancelled this year’s ceremony because China has not allowed the 2010 awardee, Liu Xiaobo, nor any family member, to travel to Oslo; Haiti is plagued by cholera and the population has uprisen in revolt against the UN Blue Helmets; Indonesia suffers from volcano eruptions with death toll rising; the Sahara territory under Moroccan dominion is isolated from the world whilst possible abuses are being committed; More than 30,000 children die each day due to hunger, and malnutrition shortens the life expectations of many thousand more; There are over a billion hungry people in the world today according to FAO’s malnutrition report, with almost 2/3 in Asia (where China & India have the largest populations) and 1/3 in Africa & Latin America.

I could go on to cite numerous such situations, not to mention that poverty has increased even in developed countries (15 M in 2009) the world over.

I wonder how our leaders can meet time and again to discuss economic & military issues and get nothing resolved to the world’s citizenry’s satisfaction in what really counts.

Fernando Fuster-Fabra Fdz.

Observer of Human Behaviour


G-20, SEOUL: MEETING OF QUESTIONED LEADERS

November 12, 2010
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Versión en español:  http://wp.me/pRlnf-1I


A series of meetings commenced in Seoul on Thursday evening amongst the countries that are considered to command the developed and emerging economies of the world. In this their fifth meet after the burst of the financial crisis, the countries belonging to the so-called G-20 Group plus some invited nations (Spain amongst them), shall try to reach an agreement.

 

What agreement must they reach?

 

In previous sessions, measures were adopted but almost none have been carried forward to full extent. Amongst such agreements were: the ‘re-foundation of capitalism’ or ‘strict regulations to curtail banking abuses’, to mention but a few of the numerous good-will statements that have ended in nowhere.

 

Con June 23rd., I wrote that the G-20 meet of Toronto   http://wp.me/pv6EY-4T was the last chance the leaders had to see the crisis from another angle. I reaffirm my previous statement. In the almost six months that have elapsed, world leaders have suffered a loss which makes them less credible than when they commenced to be a group of twenty bent to convert themselves into the new impulsive force of the world economy.

 

U.S. President Barack Obama has long shed his buoyant Nobel Peace Award to suffer his first relevant electoral defeat in the last mid-term elections.

France’s President Nicholas Sarkozy is undergoing is lowest ebb in popularity after a flood of strikes against his retirement age reforms, just as he is about to take over the G-20 rotating presidency. Precisely, he is the leader that so arrogantly announced during the Washington, D.C. summit in December 2008 the ‘re-foundation of capitalism’.

 

The German Chancellor, Angela Merkel, virtual winner in the UE arenas with her imposition of part of her criteria on budget deficit cutbacks and regulation measures on EU members’ non-compliance, is not more credible after several electoral defeats and the doubts arisen from her change of views in political affairs such as tax cuts and nuclear power plants closures.

 

Novell British Prime Minister, David Cameron, after some protocol misstep in his visit to China on the way to Seoul, has suffered his first student revolt in absentia whereby the younger Britons acted in a manner not seen since the times of his venerated mentor, Margaret Thatcher.

 

Needless to say that the Italian Prime Minister, Silvio Berlusconi, is not only subjected to an ethical scrutiny of his sexual misdoings but likewise has been practically abandoned to his fate by his parliamentarian supporter to date, the ultra-conservative leader, Gianfranco Fini.

Russian President Dmitri Medvédev still has the shadow cast by his mentor and actual prime minister, Vladimir Putin; a shadow that chases him every step he takes, without knowing who will finally be Russia´s new czar of this millennium.

 

Naoto Kan, Japan’s Prime Minister, had hardly landed when the last G-20 meet was held and no relevant role can be accounted him thus far in the search of a solution of the international crisis. He has enough with trying to keep himself in office longer than his predecessor who resigned after 8 months.

 

The last G-20 host, Canadian Prime Minister Stephen Harper did not obtain a definite final communiqué in the June G-20 summit; hence the widening breach in various fronts that have led to the so-called ‘currency war’ at present. The threat of a G-2 mentioned in June is now a currency war between two adversaries, the USA & china, which brings the world back to the brink of another profound crisis.

 

The aforementioned leaders make up the original G-7 which with Russia added was converted to the G-8. Furthermore, the European Union was given a seat in the G-8 and likewise representation in the expanded G-20. These are the directors, up till the recognition of the G-20 as possible substitute forum, of the destiny of the world economy.

 

The G-20 has given more importance to the emerging powers, of which China, India & Brazil are worth emphasising. In fact, some of their objections to G-7 veteran member stances obliged these to reorient their postures in the last meets of this new economic forum. Furthermore, the emerging members have made their presence known in other forums, some of quite a bit of importance, such as the Doha Round con international trade & commerce and the summits on climate change & environment, the latest held in Copenhagen with a forthcoming event in the next few days at Cancun.

 

The world problem cannot be limited to economic issues and the policies in budget cutbacks but rather should be visualized from another angle based on globalised commercial interaction towards a more balanced distribution of wealth in the framework of sustainable development that doesn’t exterminate or planet nor put an end to its inhabitants’ liberties and social well-being.

 

And such lack of will to descend from their power-seats to see the problem from another angle is putting these questioned leaders at a stalemate, without any capacity to react much less to act correctly.

 

 

Fernando Fuster-Fabra Fdz.

Observer of Human Behaviour

 

 

 

 

 

 

 

 


OBAMA AFTER G-8 / G-20 CANADIAN RENDEZVOUS

July 5, 2010
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Seventeen months after taking oath of office and three G-20 summits held since then, President Obama must review his track record on international achievements thus far.

Whilst Obama’s first year was loaded with international engagements that culminated in a Peace Nobel Award, 2010 has been mainly centred on a domestic agenda laden with Republican rebuffs and unsavoury surprises on the home front. This may have been initially essential to curtail far too rapid popularity erosion and possible Democratic defeats in the forthcoming congressional elections in November but became even more demanding after the BP oil spill in the Gulf of Mexico with incalculable impact on the US coastline.

A week after the latest international G-8 & G-20 summits in Canada and coinciding with the traditional 4th of July celebrations, Gulf Coast beaches were solitary scenes on an otherwise jam-packed day. The fireworks on such a relevant day for the United States were not limited to the evening sky glitters nationwide but to a series of worrying issues both on the home front as well as abroad.

In the local scene, unemployment hit a 10% record figure which if properly considered would stand for as much as 16.5% seeking a job in the 50-star nation. Temporary jobs created by the Administration over the last months to undertake the census were not enough as private entrepreneurs languished with a lack of steady job offers. Consumption isn’t at its best, not even with the 4th of July festivities on the going. America is immersed in a serious economic crisis that may not go away so easily and end, as Krugman predicts, in another Great Depression.

What really is worrying is that Obama has stood alone in the last G-20 meet and one of its staunch allies in the G-8 & G-20, Great Britain, is now in the limelight due to the British Petroleum fiasco in the Gulf of Mexico and Cameron’s insistence in totally withdrawing U.K. troops from Afghanistan by 2015. Tension was added by Britons’ demand for stronger actions by the U.K. cabinet in defence of BP, to avoid its shares plummeting further due to the Gulf of Mexico rig spill. Will Obama finally kick someone’s ass or is he going to take a beating himself?

G-20 silence on Israel’s undaunted policy of striking first as a defence measure, mainly backed by U.S. permissiveness while condemning Iran and North Korea leaves an unsavoury taste for freedom-lovers around the world. No matter what are a nation’s alliances, any world leader must have the stamina to demand its ally to fulfil international agreements towards peaceful coexistence. The United States has thus far consented Israel too many whims to honestly stand out as a firm defender of human rights and democracy. This situation is further aggravated if one considers that Barack Obama accepted the Nobel Peace Award in 2009.

Has the concern for domestic issues blurred Obama’s vision of the international front loaded with unresolved conflicts or is he being forced by American issues and K-Street lobbies to give leeway in such matters as the closure of Guantanamo, the unstable Iraq regime, the war in Afghanistan or the Israeli-Palestinian endless confrontation?

On the other hand, Obama may have decided to make a strategic halt to assess where he stands today after his solitary stand at the G-20 summit. If he decides for a G-2 push, his best bet as a partner would be the European Union with a carefully planned diplomatic action amongst the less conceited and more reliable members instead of the usual partners. It’s Obama’s turn to move a piece on the international chessboard. The world is watching.

Fernando Fuster-Fabra

Barcelona


G-20 TORONTO SUMMIT: LAST CHANCE TO SEE THE CRISIS FROM ANOTHER ANGLE

June 23, 2010
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Spanish Version              http://wp.me/pRlnf-1a


After a futile Busan meeting of economic ministers earlier this month, hopes of progress and consensus amongst world leaders at the G-20 Summit are scarce.  One inevitable question crops up – Are these government leaders governing their nations and the world for the citizens that elected them or for the financial markets that sway their fragile decisions?

Just as Obama was about to take over at the White House and Spain was first invited into the group, the G-20 met in Washington D.C. under a retreating George Bush. Two other summits, London https://fernandofusterfabra.wordpress.com/2009/04/19/hello-world/ & Pittsburgh https://fernandofusterfabra.wordpress.com/2009/09/26/the-pittsburgh-summit-the-world’s-future/ , have been held since then with practically the same futile results. Chances are that the Toronto summit will be more along the same line.

Whilst the USA has flirted with China in what was dubbed ‘G-2 formula’, the EU has been incapable of having a solid single stance towards international economic policies in the successive summits. Furthermore, the White House is cautious about withdrawing public expenditure hastily meanwhile recovery is hardly convincing. On the contrary, German chancellor, Angela Merkel, has whipped other EU leaders with French President Sarkozy’s consent towards drastic public debt cutbacks in the 27-member club. This opposed views will make it difficult to come to a common ground in the truly indispensible actions G-20 leaders must take without further delay.

Canada’s Prime Minister and summit host, Stephen Harper, is precisely against the only common point between US and European leaders – the levy on bank operations. His posture will probably be used by other leaders from emerging economies to delay any actions that may endanger their respective growth rates. However, this very growth may well be the cause of economic overheating in Brazil, China and India that could put any recovery in serious trouble. Harper, who boasts of Canada´s economy y banking solvency seems to forget that he heads a nations that has steadily lost relevance in worlds affairs and whose banks are too conservative to be a reference as institutions for the New Millennium.

Moreover, China may have apparently made a concession to the USA with regards the Yuan but it would prove naive to consider such tactical move as a definite trend towards Chinese permanent cooperation in all economic and political international issues. On the contrary, this move may well be countered by a rather steadfast stand against any of the US–EU proposal at the Toronto summit.

In a similar manner, Brazil’s outgoing President, Lula Da Silva, in an effort to impress Brazilian electors and assure his proposed successor’s victory will probably play a hard-line strategy against US proposals.

I feel that world leaders continue being incapable to think big https://fernandofusterfabra.wordpress.com/2009/12/29/world-leaders-uncapable-to-think-big/ nor are they creative enough to view the crisis issue from another angle. It is evident that the G-20 meet must start off by recognising the main cause of this sneaky situation. No solutions will ever be effective if free-trade and globalisation isn’t governed by global financial & investment regulations agreed by world leaders and implemented under strict authorized international supervisors. The care-free ways of liberal monetary flows has been unleashed for three decades to produce the existing crisis that may well pervade another decade or so.

Is any world leader brave enough to put the warning bell leash on the market’s unscrupulous misdoings?

Fernando Fuster-Fabra

Barcelona


FROM BILDERBERG CLUB AT SITGES TO G-20 IN BUSAN

June 6, 2010
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version in Spanish –  http://wp.me/pRlnf-10

The tranquil Mediterranean sky over Sitges suddenly was a flurry of helicopter traffic last Thursday afternoon whilst security measures were tightened at the entrance of Can Girona.  The arrival of members and guests of the exclusive five-decade Club at Sitges’ Hotel Dolce coincided in time with the start of the Finance Ministers’ conference 10.000 kilometres in Busan, preparatory to the world leaders meet at the end of June in Canada.

A world in crisis with the elite of the wealthy and powerful in their annual get-together since its first session in the Bilderberg Hotel in Arnhem, the Netherlands in 1954 must talk much more than of the nice sunny weather and the pleasure of Sitges’ excellent golf course. In turn, the Finance Ministers of the developed and developing countries of the world must have sat down to decide which path to take at the June 25-26 leaders’ conference in Toronto.

Coinciding with these economic and political events thousands of miles apart were two Israeli blockade actions in international waters.

The Bilderberg Club, in spite of its discreet holdings and utmost secrecy, seemed to have been fortified its existence with NATO Secretary-Generals from as permanent members. More than a shear economic club, ever since Polish political advisor Jósef Retinger received Netherland’s Prince Bernhard’s backing to his idea, Bilderberg has acted more like a political one. In fact, its first meeting in 1954 was meant to establish closer ties between the leaders of Europe and the United States of America and avoid an anti-American wave in Western Europe. Although never mentioned, one of the issues that has always hovered the European scene since the end of World War II has been the moral and economic reparations of Jewish Nazism victims. At the turn of the tides, with Israel now as an established independent state, what does the club think about Israel’s arrogant stance in the world scene today?

The G-20 Finance Ministers closed their meet yesterday with not even a mention of the deadly effects of Israel’s boarding in international waters of a Gaza-bound six-vessel flotilla, supposedly bearing humanitarian aid for Palestinians in the Gaza Strip; a second vessel, the Irish MV Rachel Corrie was likewise hijacked to prevent its arrival at Gaza. Not only did the ministers not decide a common stand on new banking regulations and control but neither did it evaluate the effects of the Israeli-Palestinian conflict on the world’s economy.

The Bilderberg Club seems to have agreed that the crisis is due to last at least another year and surely the G-20 ministers must have talked along the same line. What is indeed worrying is to observe that neither political nor economic world leaders seem to be concerned about the risks of another global conflagration in the crossroads between Sitges and Busan, in Gaza just where Israel is challenging all international authority in its arm-twisting strategy on the Palestinian issue.

How long will such inhuman actions go on in the name of a single state’s security? Can we honestly say that as developed and developing countries belonging to international organisations such as the United Nations all agree that Israel can have its ways in an eye-for-an-eye strategy against Hamas? Who then must speak out for all civilian victims of 20th. Century atrocities? Has Israel forgotten what its people suffered in the Nazi concentration camps? Is a similar action against all Palestinians justifiable and permissible?

Today, I for one, feel ashamed of belonging to our present-day inhuman race.

Fernando Fuster-Fabra

Sitges


DAVOS, A STANDING ECONOMIC VIP ARMY

January 27, 2010
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I believe that banking institutions are more dangerous to our liberties than standing armies.
Thomas Jefferson

With Improve the State of the World: Rethink, Redesign, Rebuild” as theme of this 40th session and French President Nicholas Sarkozy delivering the opening address, the Davos Forum sets off to straighten some of the mistakes committed by the very economic frontrunners of globalisation that triggered off this and other economic crises in the last two decades.

Are the economic think tanks that have controlled the destiny of Mankind since the Allied victory in World War II now thinking of “rethinking” globalisation? I must say that it’s too late to think anew the very same thoughts that have prevailed since the global crisis burst wide open the financial and construction bubbles generated by no other than the leading financial institutions in the developed world. Wall Street and The City entities, brokers & intermediaries were up front making fortunes on the basis of foreign exchange, CDS’s and hedge funds whilst sinking further in the rut underdeveloped economies in Asia, Latin America & Africa.

Many have been the summits of world leaders with no results. One is the forum for the wealthy for their “rethought vision of world economics”. I doubt that it is because the wealthy and powerful wish to “redesign” the distribution of wealth, much less to “rebuild” Haiti with their earnings in 2009.

I suspect that Davos is another luxurious VIP summit to talk at leisure how to go about new ways of earning more and caring less for the needy.

Moreover, Davos has put the Obama Administration on dead centre of the bulls-eye of its contained fury. Never has a U.S. President been so belligerent with banking institutions. True to say too, never before has the U.S. Administration had to shell out such sums to refloat banks that didn’t manage their profits properly and paid enormous bonuses to incompetent managers.

At the end of the Bush Administration, French President Sarkozy spoke at the Washington G-20 Summit of the “re-foundation of capitalism”. All 2009 passed and no action in such sense was taken. On the contrary, the “old ways of the all-power bankers” have resurrected from a low profile to come back with more force. More large bonuses and back to conventional banking the world over with only the unemployed and poor sank in stress and misery.

What will Davos apport as conclusions this time? Will it be new forecasts of dangers up ahead? We have already had 40 sessions of such silly chatter. It’s time for action and it won’t be these economic bigots who will offer the right path towards worldwide economic stability.

Fernando Fuster-Fabra, Madrid


THE PITTSBURGH SUMMIT & THE WORLD’S FUTURE

September 26, 2009
4 Comments

After Obama’s call for “.. a new era of engagement based on mutual interests and mutual respect ..”, and his insistence that “.. work must begin now”, one would expect world leaders to seriously involve themselves in concrete actions at the G-20 summit in Pittsburgh. Thus far, the foremost outcome of the meet is the concession of exclusive powers from G-8 to G-20 to resolve the international economic issues.

G20 Pittburgh

I have analysed the final declaration of intentions. Aside from a lack of specific rules, I’m afraid that world leaders have failed to establish a strategic order of priorities in the 31-point document. Stating so optimistically that what has so far been done “has worked” is a rather hasty conclusion.

The economic recovery process, thus far, has a long way to go. From dumping huge amounts into the banking & financial entities to save the system, the governments must return to balanced budgets and inflation adjustments, each state applying specific measure in an unevenly distributed crisis.

President Obama spoke at the UN General Assembly of four pillars as fundamental for the world’s future – non-proliferation & disarmament, the promotion of peace & security, the preservation of our planet and a global economy that advances opportunity for all people. Other world leaders agreed while some remained silent. Still others dared question his posture.

In the very same week, the first three of such pillars were exposed to be dynamited by an issue which ended up stealing the headlines at the summit that had worked on the strengthening of the fourth pillar – “global economy that advances opportunity for all people”.

Iran’s Mahmoud Ahmadinejad not only delivered a tirade of religious nonsense at the UN assembly but also an offensive speech that questions the average intelligence of Mankind. In his own right as Iran’s President to preach out his restricted views, Ahmadinejad launched a challenge to world leaders as a clear provocation of what was to come after. Naively picking up the glove, Israeli Prime Minister Nethanyahou availed of his turn to accuse the assisting assembly of ‘lack of decency’ for having politely withstood his adversary’s tirade without abandoning the hemicycle.

West trio

Referring to these speeches is necessary in order to comprehend how Iran stole the show at the Pittsburgh summit. The joint press conference – Obama, Brown & Sarkozy – versed on Iran’s new provocation in the nuclear front. It is evident that the Middle East is the centre of all tensions, a permanent time bomb at the base of Obama’s four pillars. I missed seeing the other two leaders – Medvedev & Hu Jintao – with veto rights at the UN Security Council in said press conference. This is a clear sign that Obama’s wink to Russia has only gone halfway through and China’s approval must wait till after the November bilateral meeting during Obama’s state visit.

Meanwhile this tense situation prevails, scarcely any of the well intended resolutions at the G-20 Pittsburgh summit are worth the paper they are printed on.

There will not only be hard times for placement of 50 M new unemployed all over the world but further risks of armed conflicts East and West of Afghanistan. Whilst the best result of this summit is the decision to grant the G-20 first choice to lead the world in its growth and development, the lack of a convinced single voice to support Obama’s four pillars may well be a wrong point of crossing of the Rubicon at the wrong time.

After all the words at the General Assembly and debates at the G-20 meet, the Pittsburgh assistants have gained a little and lost a lot. They may have missed the best opportunity to show the world how united and decided they are to solve crucial world politics.

The world now faces a new Waterloo.

Fernando Fuster-Fabra

Madrid


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