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Saudi: no cash from emerging economies until given more clout

By Andrew Torchia
Reuters
Mon, Jan 23 2012

RIYADH (Reuters) – Big emerging economies such as China, India and Saudi Arabia will not aid the West in its financial crisis unless they are given more influence in running the global economy, a senior figure from Saudi Arabia’s ruling establishment said on Monday.

“The financial crisis and great recession were born in the West, developed in the West yet hit hard throughout the world,” former Saudi intelligence chief Prince Turki al-Faisal said in a speech to a business conference in Riyadh.

He said this showed the need to give emerging economies more representation and more authority in global bodies such as the Group of 20 nations, a forum of the world’s major industrialized countries, and the Financial Stability Board (FSB), which discusses regulation of banks and financial markets.

So far, however, organizations such as the FSB “have yet to take these new realities into consideration,” while the G20 is making little headway in coordinating economic policymaking around the world, he said.

Big emerging economies’ lack of influence in international bodies reduces their willingness to contribute money to fight the global crisis, the prince warned.

The International Monetary Fund is seeking to more than double its war chest by raising $600 billion in new resources to help countries deal with the fallout of the euro zone’s sovereign debt crisis. Continue reading “Saudi: no cash from emerging economies until given more clout”

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Freedom works both ways, Faekah

— Yow Hong Chieh
The Malaysian Insider
Jan 24, 2012

JAN 24 — Pakatan Rakyat (PR) promotes equality for all, regardless of religion or race, and stronger civil liberties as the bedrock for a more modern, progressive Malaysia.

The pact says all basic rights enshrined in the Constitution will be upheld when it takes power, rights that Barisan Nasional (BN) has denied to the people on more than one occasion.

Among the fundamental rights that PR trumpets whenever it wishes to rally its supporters is the freedom of expression, freedom of association and freedom of movement.

But if the opposition believes in these freedoms, why is it we still see people like Faekah Husin, political secretary to Selangor Mentri Besar Tan Sri Khalid Ibrahim, proposing that the outspoken Datuk Ibrahim Ali be banned from the state for being a nuisance? Continue reading “Freedom works both ways, Faekah”

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For its own sake, Greece needs to declare default

by Costas Lapavitsas
Sydney Morning Herald
January 25, 2012

The dreadful debt saga will only come to a close when Athens takes charge of its predicament, writes Costas Lapavitsas.

Negotiations to reduce Greek debt have been suspended after no agreement could be reached last week. At some point in the near future, Greece seems certain to default on its obligations. But the drama surrounding the talks in Athens, Berlin and Paris shows that there will be nothing co-operative about a Greek default. It is a ruthless contest dominated by the so-called troika: the European Union, the European Central Bank, and the International Monetary Fund.

At every turn, the interests and rights of people across Europe have been disregarded. Negotiations have proceeded in secrecy. Greece, whose government is led by an unelected central banker, is represented by a team of politicians and technocrats who have performed lamentably during the crisis. Those who are owed money by Greece have been represented by the Institute of International Finance, a self-styled mouthpiece for bankers.

The troika has accepted that Greek debt must be reduced to sustainable levels. However, it also wants the reduction to appear voluntary because, if the lenders were coerced, Greece would be declared in formal default, and banks and financial markets would be thrown into crisis. Continue reading “For its own sake, Greece needs to declare default”

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Perkasa’s perverted paranoia

— David Martin
The Malaysian Insider
Jan 24, 2012

JAN 24 — January is almost up and we’re already a few days into the year of the Dragon. Seems like it’s same old same old as the business of hate mongering are abound, at least where the self appointed moral guardians Perkasa are concerned.

Today, Perkasa’s secretary general claimed that the appointment of Selangor’s Menteri Besar as the state’s Executive Councillor in charge of Islam would result in a bigger threat to Islam from the Christians in the state.

Now Mr Attorney General, Mr Inspector General of Police & Mr Home Minister, if such unsubstantiated accusations are not seditious in nature, what is?

What’s with Perkasa’s paranoia with Christianity anyway?

Why are the Christians made the bogeyman for any & all threats to Islam in this country in the last few years? Continue reading “Perkasa’s perverted paranoia”

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Azmi Khalid should resign as PAC Chairman and not be an obstacle to an urgent PAC investigation into RM300 million NFC scandal to table report to Parliament on March 12

Datuk Seri Azmi Khalid should resign as Parliamentary Public Accounts Committee (PAC) Chairman and not be an obstacle to an immediate and urgent PAC investigation into the RM300 million National Feedlot Centre (NFC) scandal so as to be able to table a report of its findings and recommendations to Parliament when it reconvenes on March 12.

It will be a gross remiss of its responsibility if the PAC is empty-handed when Parliament reconvenes on March 12 when the “cattle condo” scandal is undoubtedly the No. 1 scandal of the country for the past three months since the delayed tabling of the Auditor-General Report 2010 last October.

I had occasion to criticise the “tardiness” of the PAC to plunge into full-scale investigation into the NFC scandal and Azmi has responded saying that he prefers the PAC to wait for the police and the Malaysian Anti-Corruption Commission (MACC) to complete their investigations of suspected corruption in the NFC scandal before deciding if it should continue with its own probe.

The decision that the PAC refrain or suspend investigation into the Auditor-General’s exposes of the NFC scandal is only the personal inclination of Azmi and cannot be the collective decision of the PAC, as the PAC has not met after the start of the police and MACC investigations into the NFC.

Azmi should not impose his personal preference on the PAC when national interests demand that the PAC performs its duty to conduct an urgent and immediate investigation into the NFC scandal. Continue reading “Azmi Khalid should resign as PAC Chairman and not be an obstacle to an urgent PAC investigation into RM300 million NFC scandal to table report to Parliament on March 12”

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‘Elite Malay leadership cheating community’

Mohd Ariff Sabri Aziz | January 22, 2012
Free Malaysia Today

The majority of grassroots successful Malays have succeed on their own account, with no Umno help.

COMMENT

Many have realised that the struggle to preserve the 30% quota of privileges has never expanded into the universal struggle for the economic emancipation of Malays.

I want to repeat this observation. The penury of the majority Malays is not the result of greedy others (read non-Malays) taking a larger share of the economic pie.

We have been taken for a ride believing in this.

The causes for the continued misdevelopment of Malays are likely to be found in the actions and behaviour of the Malay leadership.

The Malay leadership at all levels have not acted in the interest of Malays actually. Continue reading “‘Elite Malay leadership cheating community’”

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UMNO fears DAP beachhead

KTemoc Konsiders ……..
Tuesday, January 24, 2012

Lim Guan Eng and his Penang government, and not Khalid Ibrahim and the Selangor government, represent the greatest threat to Najib and UMNO, and therefore every attempt must be launched to destroy it, impossible as this task may seem.

In the immortal words of Cato the Elder, a Roman statesman, “Ceterum autem censeo, Carthaginem esse delendam” (Furthermore, I think Carthage must be destroyed).

Thus, to UMNO, in similar thinking, DAP in Penang must be destroyed …….. well, as much as is practically possible, given that an overwhelming majority of Penangites has rejected Gerakan and MCA parties as their political representatives.

Hence we have witnessed the relentless waves of terrible fabrications against Lim’s government in general, and Lim GE in particular, even down to the shameful sleazy salacious lies about his teenage son. Those fabricators surely threw their religious God-fearing beliefs and values out of the windows.

It has been anti-DAP carpet bombing all the way by both UMNO apparatus and affiliated bloggers (either sympathizing with UMNO or just being anti-DAP).

They have used not C4 but ‘C3’, namely, the alleged evils of Lim GE’s Christianity, Chinese ethnicity and Charborkooi (devil women) DAP colleagues, where the lies cover: Continue reading “UMNO fears DAP beachhead”

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DAP, please pay no mind to flip-flop KJ

by Haris Ibrahim
The People’s Parliament
January 24, 2012

From the time I was in secondary school until about 2 years ago, if ever I was to join a political party, it would have been the Democratic Action Party.

Yes, the DAP.

Guan Eng well knows this.

Since 2010, though, I am pleased to say that my options have increased.

Today, besides DAP, if ever I was inclined to join a political party, I would have no reservations in filling a membership application form and submitting the same to the Parti Sosialis Malaysia or the Parti Rakyat Malaysia.

These parties are not multiracial. In my view, the term ‘multiracial’ still places emphasis on ‘race’.

They are non-race based.

They champion issues, are advocates of meritocracy and champion the lot of the downtrodden. Continue reading “DAP, please pay no mind to flip-flop KJ”

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Upshot of attacks on Anwar, ABU

Mariam Mokhtar | Jan 23, 2012
Malaysiakini

This is not an auspicious start to the Year of the Dragon for the PM. The person who controls events in Malaysia and who will undoubtedly shape its future, is one effete man called Saiful Bukhari Azlan.

Prime Minister Najib Abdul Razak is wrong to think he leads the country.

Malaysians thought that after 9 January, the nation would move on, but their dream was shortlived. Only in Malaysia would the government and its institutions, like the judiciary, be preoccupied with Saiful’s posterior, just as his face will always be associated with Sodomy II.

So now, instead of the nation concentrating on a way forward, of improving our lives, of revitalising the economy and of making sure our politicians do the work we elected them for, we are trapped in Sodomy II, Scene 2. Continue reading “Upshot of attacks on Anwar, ABU”