Russian Prime Minister Vladimir Putin [soon scheduled to slip back into the presidency in Moscow’s musical chairs] has dreamed up a restoration of Stalin’s old USSR as a “Eurasian Union”, a regional agglomerative dictatorship. Putin’s vision is a world of such regional blocs, graciously allocating the U.S. the Western Hemisphere. Unable to accomplish fundamental post-Soviet reforms, he has put together helter-skelter economic collaboration with neighbors [including pumping their gas and oil] with Belorussia, Kazakhstan and a loose customs union [Common Economic Space]. He now aims bringing in the current pro-Moscow Ukraine leadership. But his present arrangements already cost Moscow $1.7 billion in tariff sharing revenues last year. Meanwhile, prospective investors in this harebrain scenario are trading every ruble to dollar they can get their hands on and tossing them out of the country — more than a record $49 billion so far this year. Hello?
Luxembourg Prime Minister Jean-Claude Juncker, chairing the Eurogroup finance ministers, says “[E]verything will be done”. He means in an effort to avoid Greek default and without Athens opting out of the 17-member single currency. But the rating agencies just whacked Italy’s credit rating, Spain’s soaring borrowing rate fell only because the already strapped European Central Bank bought its increasingly high risk bonds, and debt-ridden Portugal is failing to meet targets. The decision whether Greece will get the next tranche of its bailout was delayed until mid-November so the European Union, the European Central Bank and the IMF can pull themselves together to decide whether Athens has met conditions for receiving help. Latest official figures say not: the Greek budget deficit will hit 8.5 percent of GDP in 2011 instead of the 7.6 percent it promised creditors. Greek officials now pledge the 2012 deficit will be slashed 6.8 percent of GDP instead of the promised 6.5 percent if a €6.6 billion [$8.83 billion] worth of supplementary austerity and reform measures package is forthcoming by 2013 Without the “current” €8 billion [$10.71 billion] tranche, Athens would bankrupt by this November with major repercussions for Europe and the world. Hello?
Syrian Dictator Bashar al-Assad allegedly told visiting Turkish Foreign Minister Ahmet Davutoglu Damascus would strike Israel with missiles if NATO helps his country’s rebels during his rapidly escalating civil war. “If a crazy measure is taken against Damascus, I will need not more than six hours to transfer hundreds of rockets and missiles to the Golan Heights to fire them at Tel Aviv,” Assad warned after Turkish foreign minister conveyed a United States’ polite request to clear out. Assad continued: “All these events will happen in three hours, but in the second three hours, Iran will attack the US warships in the Persian Gulf and the US and European interests will be targeted simultaneously” True, Assad is rumored to have chemical and bacterial warfare stocks. But the Israelis sit on the Golan Heights less than 75 miles, downhill to Damascus. After Assad’s father tangled with the Israelis in 1982 — the largest air-to-air combat of the jet age and one of the shortest — Syria lost 85 Soviet MiGs. Hello?
Yep, must be something in the water, the wine, the arak or wherever.
Sol W. Sanders, (firstname.lastname@example.org), writes the 'Follow the Money' column for The Washington Times . He is also a contributing editor for WorldTribune.com and EAST-ASIA-INTEL.com. An Asian specialist, Mr. Sanders is a former correspondent for Business Week, U.S. News & World Report and United Press International. >
Yes i'm affraid there is something in the air... it has three letters and it's called war. The signs are a combination of what happened pre WWI & WWII.
7:58 a.m. / Wednesday, October 12, 2011