Cactus Times
November 29, 2011
North American Edition
UN Security Council Deliberations Result in Another
Session
New York (API)— The UN Security Council, handling a full agenda, has decided to extend its
deliberations for a second day, to meet on Tuesday, November 29th. Agenda items will be
available as soon as possible, but central to the deliberations will be the issue of statehood for
Palestine.
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Germany and France Agree to Joint Action on Euro
Troubles
Berlin (API)—Meeting in a special framework outside of their discussions with the UK, the
German and French governments have fashioned the following Eurozone Stimulus package:
To stimulate of the economies of Member States in the European Union that are in an extreme
economic crisis, a new stimulus package for the afflicted Euro Zone countries of an amount of €80
Billion Euros between Germany and France (€40 billion each) with strict conditions.
Strict conditionality on this stimulus, reserved to small business subsidies to promote local
consumption in the afflicted countries, specifically producers. At least 5% of stimuli euros must be
spent on investments in alternative energy creation and jobs in the industry to attract Foreign Direct
Investors and self sustainability.
Direct investment in alternative energies in Greece and other member states i.e. solar farms, biofuels, geothermal energy, wind etc.. (with massive oversight from SOC)
Monitoring of the stimulus euros will be more closely observed by a subcommittee called the SOC
created by the stimulus package countries Germany and France (Stimulus Oversight Committee).
Preliminary budget reports from all involved countries receiving the Stimuli must be sent out to the
Stimulus Oversight Committee, as well as quarterly spending reports for all government activities
involving this stimulus money.
Regarding Specific Member States Receiving the Stimulus Package and Conditions Involved:
Greece; SOC and Greece will specifically monitor tax collection, stimulus euros are contingent upon
a proposed 70% tax collection rate to be met by the end of the first fiscal year after the stimulus is
enacted.
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Ireland; Ireland's budget needs to be balanced, currently hovers at 125% of GDP, we would like to
see a10% betterment prior to receiving the stimulus.
Portugal, unemployment is above 10%, we would like to see a significant improvement making sure
stimulus money is being directed to creating jobs.
Portugal, tertiary sector investment which is already seeing good growth should see more investment
and subsidies to boost that industry
Spain, budget needs to be balanced, currently 9% over GDP
Spain, Unemployment 21.5%, significant improvement after the first year of stimulus
Italy, we’d like to see improvement in the fiscal policy prior to receiving the stimulus money in order
to ensure that the money is being directed in a timely manner to the proper places under the
conditions of this package.
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Britain Opposed to Further Stimulus Packages in
Eurozone
London (APU)—The Tory coalition government appears to stand in opposition to any further
attempts by Germany and France to create a large stimulus package for the Eurozone, which
would conflict with the UK new economic program. The government appears to have the support
of Labour opposition, whose spokesperson offered the following commentary in Parliament:
“Labour Opposition would like state that the decision made by the Prime Minister to deny stimulus
involvement with Germany, France, and the Eurozone is the best option for the UK in order to improve
our own economy and employment issues. While some efforts made in the past have not done much
justice for British society, denying the stimulus plan is the most logical option for our country and Labour
Opposition fully supports the decision made.”
To all of this, the Prime Minister issued the following statement:
“What is interesting about the ongoing talks between the European powers is that everyone
seems to agree to disagree. We all agree that keeping the Eurozone together is a priority and that
the Euro needs to stay the currency of choice. But the means to which we want to achieve these
ends, this is where we've come to disagreement. I've never believed for one moment that
specially marked bailout packages are the long term solutions or even the short term solutions to
deep fiscal crises such as these. Europe needs strong policy to serve as the backbone for all
political and economic activities that take place within its borders. Without a proper skeleton,
Europe will be forever relegated to a two-speed institution where two horses lead the pack and
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everyone else rides their coattails. This by no means is the Europe that any one of us
envisioned.
So what does this mean for Europe? What does this mean for the rest of the world which sees the
European trio of the UK, France and Germany holding high-profile talks but seemingly getting
nowhere? First and foremost Britain's message has always been quite clear and to a greater
extent-consistent. We have a philosophy that we have always adhered to. Our involvement in
Europe rests on ways in which we can bring a union which formed under a completely different
political environment up to speed with the demands of the 21st century. Looking at our most
glaring issues: Stagnant growth, debt, unemployment, these are not issues we will ever solve
overnight. But it only takes one day, one night to commit to a plan that re-writes the way
struggling economies can pay back their debt and re-defines each country's role in the European
community.
Britain as a non-member would be subjected to every regulation of the single-market but with no
possible way of influencing any decisions in Brussels. Our success at home can never be
separated from what happens abroad. I do not doubt that we will eventually find a way past our
differences. We have to. But until we address core, fundamental issues that provides for that
small window of light to shine through, we will continually be stuck in a cycle of debt and
instability.
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Chinese Government Requests Formal Talks With Indian
Government over Disputed Territories
Beijing (BBC)—The Chinese Foreign Ministry announced today that it was requesting formal talks
with Indian counterparts regarding their border issues. Of the record discussions suggest that while
the Chinese are interested in making sure the problem does not escalate, they also want the Indians
to clamp down on Hindu nationalists operating around the border.
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