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Hope for Bretton Woods II

Hope for Bretton Woods II

 

Representatives of the 20 major advanced and emerging countries (G20) will meet this Saturday for a financial summit in Washington. In reference to the 1944 conference which determined global economic policy for the 20th century many are speaking of a second Bretton Woods. The European press discusses the hopes and expectations with which Europe views the summit. » more

With articles from the following publications:
Gândul - Romania, Financial Times Deutschland - Germany, Corriere del Ticino - Switzerland

Gândul - Romania

Gandul newspaper writes that the European states will not only have to reach a consensus with the US but also among themselves: "It is not only the US and Europe that hold different views, there are also differences of opinion within the European Union. The 27 members are in unison about the need for tougher regulation of the market, the weaknesses of which have been laid bare by the current crisis, but there are divergences when it comes to details. One detail on which all 27 must agree is the role of the IMF in the new architecture of the global financial system. Contrary to official statements that there is a common stance the more liberal countries (the UK, Sweden) are still concerned about the considerable risk of overregulation. ... The G20 summit is therefore nothing more than the first stage in the long path towards reforming the international financial system." (10/11/2008)

Financial Times Deutschland - Germany

The Financial Times Deutschland advises Europe to remain firm at the G20 summit: "The Europeans are attending this summit with a great sense of self-confidence and even greater expectations. ... The EU states must not shy away from conflict with the Americans and the emerging countries. The European concept of demanding tighter controls and regulation of financial capitalism to tackle the crisis is the only convincing answer to the current situation. If the Europeans stand united in Washington the force of their arguments could play a decisive role in influencing the reform of the global financial markets. The more time passes and the shock of the crisis wears off, the harder it will be to mobilise political energy for such a reform internationally." (10/11/2008)

Corriere del Ticino - Switzerland

The Swiss daily Corriere del Ticino hails China's 460-billion-euro bailout plan as a model solution: "The right response from the G20 would be the joint adoption of a bailout package according to the Chinese model. But the money is lacking to do this. Nonetheless, we can still hope that a joint statement will be issued in Washington in which the participants commit themselves to adopting measures to bolster the economy and continue working together to prevent the bank system from imploding. This is certainly a positive result because it shows the will to take joint action rather than each acting on his own and ultimately against each other. This willingness to cooperate will become stronger if the 20 participants agree to begin a process of reforming the world order. A second Bretton Woods is a possibility but it would meet with resistance from the financial sector which still hasn't given up the hope of repeating the gestures of the past years." (10/11/2008)

POLITICS

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Magyar Nemzet - Hungary

Where is the Roma Obama?

The conservative daily Magyar Nemzet reflects on what Barack Obama's election means for the Roma minority in Hungary: "Following the election of Obama to US president a Hungarian opinion research institute carried out a provocative survey asking Hungarians whether they would like to see a member of the Roma minority as prime minister. The question was poorly formulated. It leaves the majority no way out. For all the latter has seen is that since the political change of 1989/90 the Roma policy has only worsened the situation of the Roma, pushed the country's crime rate to an intolerable level and made normal coexistence between the majority society and the Roma minority a sheer impossibility. Meanwhile among the Roma, instead of producing people like Attila Lakatos [the 'Roma chief' of Borsod-Abaúj-Zemplén county in north-eastern Hungaria] it has aided opportunistic and corrupt politicians." (10/11/2008)

Die Presse - Austria

Obama and minorities

The enthusiasm of many Europeans at Barack Obama's victory in the US presidential elections masks widespread unease about European minority and immigration policy, writes the daily Die Presse. "Barack Obama's election victory is having enormous repercussions among both his European critics and his supporters. On the one hand many reactions, such as those of Austrian television journalist Klaus Emmerich, betray a thinly-veiled racism. Other jocular comments fall flat, like the recent jests by Italian prime minister Silvio Berlusconi. On the other hand, the enthusiasm bordering on hysteria of many Europeans betrays unease about how minorities, immigrants and others are treated here. The Atlantic Ocean acts thereby as a sort of discharge flume for moral exoneration. ... Perhaps the younger among us will even live to see a federal chancellor of Turkish descent, but only if we can achieve a well-directed immigration policy and a radical change in integration policy." (08/11/2008)

Neue Zürcher Zeitung - Switzerland

Putin back soon?

In his state of the nation address Russian President Dmitry Medvedev proposed extending the president's term in office from four to six years. Citing the Russian newspaper Wedomosti the Neue Zürcher Zeitung speculates that this could mean a swift return of current Prime Minister Vladimir Putin to office: "It is worth noting that all this has come at the same time as Medvedev's cryptic proposal to lengthen the Russian president's term in office from four to six years. The daily Wedomosti explains what the concrete results of this could be. As the newspaper interprets the situation, extending the term of office would require constitutional amendments, and this in turn would necessitate new presidential elections as early as 2009. The candidate with the best prospects of winning is Vladimir Putin. His spokesman coolly made it understood that he, the spokesman, saw no reason for Putin to return to power next year. This is certainly not the most convincing disclaimer we've ever heard." (09/11/2008)

Politis - Cyprus

The Cyprus problem must be an election campaign issue

The Cyprus problem and the occupation of the northern part of the island by the Turkish army should be a central issue in the election campaign for the upcoming European Parliament elections, writes Andreas Agelides, an MP for the Democratic Party (DIKO). "It is an obligation that will lead to our rights ... being better understood, because it [the Cyprus problem] will give the public a subject for discussion and judgement. ... Cypriot-Greeks and Greeks who study, work or have taken up residency in an EU state, ... can exercise pressure by sending written petitions to the EU parliament ... or taking the necessary steps for reasons of personal interest or through a collective movement." (09/11/2008)

Dnevnik - Slovenia

Slovenia at odds with the EU over toll stickers

The introduction this year of semi-annual and annual toll stickers for all cars in Slovenia has met with anger primarily among foreign drivers passing through the country. Now European subsidies for the construction of Slovenian motorways have been frozen, because Brussels is demanding toll stickers for a shorter period of time. Primož Cirman explains in Dnevnik newspaper why Slovenia cannot win against Brussels. "Firstly, because Slovenia went into this 'war' unprepared. The toll stickers were introduced hastily, and no studies were carried out on the consequences of the stickers on public finances. And we also acted without the support of the lobby in Brussels, which in the worst case would have 'bought' us one or two years' reprieve. ... Secondly, the experience of the EU member states shows that the European Commission is not in the habit of giving in on questions of road charges. ... Thirdly, by the time proceedings in the European Court of Justice came to an end Slovenia could suffer major damage. What should the new government do? In the long term, it should come up with a strategy for road charges that is valid for more than half a year." (10/11/2008)

REFLECTIONS

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De Morgen - Belgium

Marc Hooghe on the remembrance of World War I

Ninety years ago today an armistice in Belgium ended World War I. Historian Marc Hooghe calls on the Flemish and Walloons to abandon their nationalistic disputes, arguing that those who fell should be remembered with dignity. "Every society develops rituals for keeping the dead partially alive. One of the passages of the Iliad which arouses the most indignation is the mistreatment of Hector's corpse. Yet with our nationalist political conflicts we show just as little respect for those who fell in the Great War. This is all the more scandalous because the German attack on neutral Belgium in August 1914 set off a wave of international solidarity. It was outrage over the German war crimes on Belgian soil, including in Aarschot, Löwen and Dinant, that caused thousands of British to volunteer. Many of them died. Caught up in our own nationalist conflicts, we have shown little thanks for this international solidarity. ... But true respect means commemorating the victims of both world wars for what they were: normal people who perhaps became involved in these murderous conflicts against their will. And seen from that perspective it is entirely irrelevant whether they spoke French or Flemmish." (10/11/2008)

La Vanguardia - Spain

Albert Florensa and José Sols on a global social market economy

In the face of a possible reform of the global economy Albert Florensa and José Sols make the case in the Spanish daily La Vanguardia for an international social market economy modelled on Germany's system. "To balance out the disadvantages of the two systems, after World War II (taking the cue from the US's New Deal initiative) the social market economy was created in Germany, which gave Western society one of the best chapters in its social and economic history in terms of both rights and growth. ... Let us revive the social market economy by adjusting it to the global reality, which means erecting an international, political and democratic structure which represents mankind as a whole and which, while respecting individual states, creates the kind of global regulations that those [states] cannot violate. The social market economy is based on two principles: first, that of individual freedom as the basis for subsidiarity, and secondly, social consciousness as the foundation of solidarity. It relies on the free market but also on the state assuming a certain role in the economy, always at the service of those who make up society. Overcoming this crisis will be difficult. In striving to do this we must start to create a foundation for preventing future crises. The social market economy is the path we must follow - but at a global level." (10/11/2008)

ECONOMY

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Göteborgs-Posten - Sweden

Should retirement age be raised?

The population is growing older and more healthy, the daily Göteborgs-Posten notes. In view of the fact that soon there will be only two working people for every pensioner - instead of four - the time for a new strategy has come, the paper concludes: "Of course such a ratio will never work. If average life expectancy rises and we become healthier and more dynamic in our old age, it is only natural to raise the retirement age as well. But certain problems will remain. Currently our jobs are tailored to 35-year olds with no children. As long as workers fit this model, all is well. But when that is no longer the case early retirement is the best solution. However statistics on actual retirement ages show that not every working person is 35. Currently the real retirement age is 61.9 years, which is in fact a welcome improvement. Just a few years ago the average was 59. No doubt it will not be long before people suggest raising the retirement age to 70. But that decision can wait until the real retirement age reaches 65. For that to be the case, working conditions need to be improved, and organisations must cease to assume that its employees are childless 35-year olds." (10/11/2008)

Postimees - Estonia

Lack of competition on Estonia's energy market

The state-run Estonian energy company Eesti Energia has launched a comprehensive investment programme that counts with government financial backing. The daily Postimees writes that this runs counter to the free market: "Within five years Estonia will have to open up its strictly regulated energy sector and prices will no longer be fixed by the Estonian authorities but by the power markets, like for example Nord Pool (the Nordic Power Exchange). And then there's the question of whether more energy providers will enter the Estonian market. Eesti Energia asked the state for help and got it. But why should the money go to this company, of all companies? There can certainly be no talk of free competition here in Estonia. And as long as we don't have competition Finland, for one, won't want to construct a power cable running along the seabed to Estonia." (10/11/2008)

CULTURE

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Respekt - Czech Republic

No preferential treatment for Kundera

The liberal weekly newspaper Respekt, which initiated the debate surrounding the internationally acclaimed writer Milan Kundera's purported denouncing of an opposition figure in Czechoslovakia, takes a critical view of the recent declaration of solidarity for Kundera by a group of international authors: "They are not concerned about facts, but about [Kundera's] reputation. ... Are there different rules for famous writers than that for ordinary mortals? Even if one can detect in Kundera's books traces of the fate of Miroslav Dvořáček [who was sentenced to 14 years in a labour camp], one can find no concrete proof. However the issue here is not what Kundera wrote, but what happened. What we have is a police protocol [which incriminates Kundera] and Dvořáček's fate. In a country where hundreds of thousands of innocent people were jailed and sentenced to forced labour, it is our duty to investigate how such things could happen." (10/11/2008)

taz - Germany

The catwalk to the West

Serbs earn an average income of between 300 and 400 euros per month. The designs presented at the Belgrade Fashion Week are thus beyond the means of most Serbs, Germany's tageszeitung writes: "Belgrade rocks, no doubt about it ... . Even though you don't often meet young Serbs in Paris, Berlin or Kraków. They can't just catch a plane because they need a visa first ... . Things were very different in Tito's times, when the Yugoslavians were the only ones in the Eastern Bloc to have passports. ... There's plenty of young talent here, but basically they don't stand a chance. ... The 'farmers' don't go for that kind of thing. They have no understanding of the latest designs of the young fashion avant-garde. ... Most young Serb girls ... can't afford it anyway. They count themselves lucky that a branch of the Spanish fashion chain Zara has opened. Young, up-to-date, affordable European fashion, designed after quietly taking note of the shows in Paris or Belgrade. It's only once people start copying you that you know you've made it." (10/11/2008)

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