False alarms
3 hours ago
The combination of the lack of state aid clearance and the banks’ conditions on their support means that Big Society Capital as yet has no money in the bank, Nick O’Donohoe, its chief executive, said.Disadvantaged, in this case, means those who have committed criminal offences.
But it has approved in principle its first investment of £1m through the Big Lottery Fund, which is holding proceeds from the dormant assets until clearances are received from the European Commission and Financial Services Authority.
The investment will go to the Private Equity Foundation to develop social impact bonds to get disadvantaged young people into work.
Although neither state aid approval from the European Commission or regulatory approval from the FSA has been finalised – both of which are needed before Big Society Capital can get its hands on the money – Minister for the Cabinet Office Francis Maude, who hosted this week’s announcement at 70 Whitehall, said he was confident that both were proceeding without the prospect of a problem.Of course, it is possible that a better education system, more training and a less tax and regulation encumbered economy would be a better idea in the long term. But would that provide quite so many jobs and positions for people who are already in the system?
Sir Ronald Cohen, the renowned venture capital and social investment pioneer, has agreed to serve as the unpaid, interim chair of Big Society Capital Limited until it is fully operational and its board has conducted a search for a more permanent chair.
Norway’s twin terror suspect Anders Behring Breivik trained at a secret paramilitary field camp in Belarus earlier this year, a Belarusian opposition politician said on Thursday, citing security sources.The politician is Mikhail Reshetnikov, the head of the opposition Belarusian Party of Patriots and he gave his information to Gazeta.ru.
Reshetnikov also claimed Breivik had participated in “sabotage-terrorism drills” under a former Belarusian special service officer and that he had used a fake passport to enter Belarus.If true or even half-true, this puts a slightly different perspective on the shooting and bombing. As Viktor Demidov points out, and as this blogger immediately recalled, Lee Harvey Oswald had also spent time in Minsk. [Here is the article in Russian.]
“His codename in Belarus’s KGB was Viking,” he added. “Rumors say he also had a girlfriend in Belarus.”
“The theory that Belarus’ special forces were involved in training Anders Breivik seems, of course, far-fetched,” political expert Viktor Demidov was quoted by Gazeta.ru as saying.
“On the other hand, [Belarusian] President Alexander Lukashenko’s friendship with Muammar Gaddafi is no secret - neither is his fondness for Adolf Hitler.”
Norway is taking part in NATO operations in Libya and Gaddafi has threatened attacks against Europe.
Christofias's centre-left administration has faced unprecedented public fury from the blast, caused when a cargo of confiscated Iranian munitions exploded next to the island's largest power plant, killing 13 people.In the circumstances, Turkey may not be all that interested in that bid, though, clearly its government goes through the motions.
Cypriots have taken to the streets in their thousands to demand the resignation of Christofias and his government.
On Wednesday, Moody's downgraded Cyprus to three notches above junk status due to the fiscal fallout from the blast, adding to the strain on the economy from its exposure to Greek debt.
Since the blast, markets have trained their sights on the east Mediterranean nation as a possible fourth recipient of a euro zone emergency rescue after Greece, Ireland and Portugal, and political wrangling now risks derailing much-needed economic reforms.
The island's central banker Athanasios Orphanides has warned that without urgent action, Cyprus could be forced into seeking a bailout.
There have been calls for Christofias, a Communist whose term expires in 2013, to step down, but that appears unlikely. As leader of Cyprus's dominant Greek Cypriot community, he leads reunification talks with estranged Turkish Cypriots to clinch a peace deal to end decades of conflict. The absence of such a deal is harming Turkey's bid to join the EU.
Moody's cut Greece's credit rating further into junk territory on Monday and said it was almost certain to slap a default tag on its debt as a result of a new EU rescue package.In the long term, this saga, as most of us know, will be of far greater importance.
It was the second rating agency to warn of a default after euro zone leaders and banks agreed last week that the private sector would shoulder part of the burden of a rescue deal that offers Greece more cash and easier loan terms to keep it afloat and avoid further contagion.
The suspect is reported by local media to have had links with right-wing extremists. He has been named as Anders Behring Breivik. Police searched his Oslo apartment overnight.For what it is worth, I am finding it hard to believe that one man could be responsible for both attacks without any help at all.
The BBC's Richard Galpin, near the island, says that Norway has had problems with neo-Nazi groups in the past but the assumption was that such groups had been largely eliminated and did not pose a significant threat.
Police say they are investigating whether the attacks were the work of one man or whether he had help.

Under its leader Heinz-Christian Strache, the right-wing populist Freedom Party has become a force to be reckoned with in Austrian politics. It is currently neck and neck with the country's two largest mainstream parties in the polls. Meanwhile the governing Social Democrats are struggling to reconnect with ordinary voters.Ah yes, where have we heard that before? Or this?
Many important SPÖ [Socialist Democrat] figures -- including the new government spokesman, the chancellor's foreign policy adviser and the SPÖ leader on the powerful foundation board of the public broadcaster ORF -- are in their mid-20s or early 30s. They are alert, networked and determined to rescue the legacy of the deeply traditional Austrian workers' movement by bringing it into the age of information technology.So the people are not happy? Well, let them eat linguini though they probably prefer Wiener Schnitzel mit Erdäpfelsalad and who can blame them.
After work, the young Austrian leftists head for the hip section at the back of Vienna's famous Naschmarkt market or the Procacci Restaurant near St. Stephan's Cathedral, where diners pay €26.50 ($37) for linguini with crawfish and are relatively safe from Strache's down-to-earth followers.
Polls now place Strache's FPĂ– consistently neck and neck with the two "old parties," and in May it was even the top choice among voters. Strache is already telling people that if he comes into power, the country will no longer pay a cent for "bankrupt EU countries like Greece" because, for someone like him, "the red, white and red shirt" -- a reference to the colors of the Austrian flag -- "is tighter than the Brussels straitjacket."Of this article is at all accurate, Herr Strache is not a particularly charismatic and impressive figure and the party has few coherent policies. Of course, the article might not be accurate. But even if it is, that is not the point, which, to be fair, the author makes clear. The FPĂ– is not winning so much as the others are losing, caught in the headlights of their out-dated political consensus.
My Lords, this is again a wrecking amendment, which is how the noble Lord, Lord Blackwell, described the previous amendment. It goes to the very heart of the Bill and would neuter it completely if it produced a sort of son of a sunset clause. People outside this Chamber and outside Parliament will simply not understand what the House of Lords is doing if it votes for it. The Bill is intended to give British people a voice and protect them from further laws and further integration produced by Europe. They will not understand if the House of Lords supports this amendment, which goes against the whole tenor of the Bill.As readers of this blog will know I am not a great fan of an EU referendum and I do not believe that famous referendum lock, as it is phrased, will make the slightest difference. But one cannot argue with the noble lord's comments.
On the earlier amendment, the noble Lord, Lord Liddle, made some great play about the lack of trust in politicians and Parliament in general. Although he would not interpret his remarks that way, I take them to support the use of referendums, precisely because of the lack of trust in Parliament and government in general in this country. The noble Lord, Lord Grenfell, prayed in aid the people of Slovenia, who apparently trust their Parliament and say that they do not want referendums. But that simply is not the case in this country. The voters in this country do not have the same faith in their Government and Parliament as the people of Slovenia apparently do. If the amendment is carried, it will drag Parliament even further into the contempt that British people already have for it. It is extremely dangerous, and I hope that it will be voted down by this House.
As I understand it, following this report from the Commission, this will be a matter for the Council of Ministers and for the European Parliament. It will be a matter for co-decision, so it will take some time. As a result, it is very important that we build up the appropriate alliances in Europe and within the European Parliament to make sure that we can negotiate the best deal possible for a proper, radical reform of the common fisheries policy.That will presumably be just as successful as our previous attempts to negotiate a radical reform of the fisheries policy.
My Lords, given the success of the fisheries policies of Iceland and the Faroe Islands, and given the fact that 70 per cent of the fish in European waters swam in British waters before we joined the Community, why do we not take back our own fish management to the benefit of our industry? Why do we need a common fisheries policy at all?HMG did not deny what he said. Lord Henley merely asserted that
we are where we are. We have a common fisheries policy and we are committed to renegotiating that along with the Commission, which has accepted that that policy does not work, and we are going to get that right. With the Commission and a vast number of other member states being on side, and with this country being totally and utterly committed to doing so, we can get that right. We will start that process next Tuesday and continue it as long as is necessary.What is it that enables people to say things like that with a straight face as they survey previous assurances of negotiations for radical reform that failed?
A referendum campaign is not the same as an understanding of how we get out and what that entails or even the need to get out; an opinion poll or even two, are not the same as winning that referendum as a quick perusal of past opinion polls including 1975 would show you; and "doing something" is not the same as doing the right thing.It is not, of course, in their interest to unravel these contradictions. All the more reason why we should do so.
To ask Her Majesty's Government what are the objectives of the European Union Agency for Fundamental Rights that are not delivered elsewhere; and what is its annual budget.For those who are interested, this is what HMG replied:
The European Agency for Fundamental Rights provides the EU organs, and the EU member states when implementing EU law, with assistance and expertise relating to fundamental rights. Examples of its functions include the production of data comparing the human rights situations in the EU member states, and the preparation of thematic conclusions and opinions at the request of the European Parliament, the Council or the Commission. EU-specific functions such as these are unique to the agency.And worth every euro-cent we spend on it. Well, maybe not.
The agency received a total contribution from the EU budget of €20 million in 2011. The 2012 EU budget is still being negotiated.
To ask Her Majesty's Government what is their assessment of proposals by the European Union to impose European Union wide taxes; and whether such proposals would require unanimity to be adopted.Huff and puff, said HMG in the shape of Lord Sassoon:
The Government have made it clear that the UK is opposed to any new European Union (EU) tax to finance the EU budget.Nothing to fear there, then. After all these rules and treaty Articles are always adhered to by the Member States, are they not?
Under Article 311 of the Treaty on the Functioning of the European Union, a change to the way in which the EU is funded would have to be unanimously agreed by all member states and ratified by national parliaments. Upholding the member state veto on tax remains a key priority for the Government.
What is the extent of unused funds held by the European Union; and why they are not being returned to member states in proportion to their contribution to the European Union budget?Surely, the answer is that any surplus is handed over to our glorious MEPs to do what they will. But no.
Any surplus from one year's European Union (EU) budget is returned to member states in the following year. This serves to reduce the amount required from a member state to fund the following year's budget, in line with its share of gross national income-based contributions.Of course, that is chicken feed in relation to our deficit but it would be good to know what happens to the money.
The surplus from the 2010 EU budget amounts to €4.539 billion (£3.907 billion) and will reduce the UK contribution to the 2011 EU budget by €639 million (£550 million).
On Thursday, WikiLeaks payments provider DataCell said it could start processing donations to Assange's group again, circumventing a months-long ban by Visa and MasterCard.Well, if you can use financial power to fight the News of the World, you can use it to fight WikiLeaks. No?
An Icelandic bank called Valitor had agreed to accept payments processed by DataCell, but DataCell did not tell Valitor that those payments would include donations to WikiLeaks, the bank told Reuters on Friday.
"Valitor was not informed that DataCell would be conducting these activities when their business agreement was made," spokeswoman Jonina Ingvadottir told Reuters in an emailed statement on Friday.
She cited Visa and MasterCard's prohibition on the "service such as DataCell is offering WikiLeaks."
The world's two largest credit card processing networks were among several companies to cut off services to WikiLeaks late last year after the whistleblower organisation made public a massive trove of secret U.S. diplomatic cables.
Europe's political elites are a pathetic sight at the moment, from their contradictory reactions to the rebellions in the Arab world to their timid handling of the euro crisis. Either they persist in doing nothing or they flee from one falsehood to the next, all in the expectation that this will enable them to gain control over the markets. Now that the European elites have had to produce proof of their long-held claim that Europe is a capable player on the global political and economic stage, they have done nothing but flounder. And because they refuse to believe that this is the case, they celebrate every stumbling move as the salvation of Europe and the euro. The poor image Europe is currently projecting is largely the result of the impotence of its elites .I certainly agree with his description of Europe's political elite: it is a pathetic sight but their failure to solve the problem may have something to do with it being insoluble; their failure to project Europe's power may have something to do with there being no power to project; and their failure to come to an agreement may have something to do with the fact that there is no common ground. Giving them more power in the circumstances may sound like a good idea but, among other problems, it would go directly against the thought and spirit of the real Europe.
In light of this failure of the elites, it is hardly surprising that we are hearing renewed calls for the democratization of Europe. Suddenly, the people are expected to fix what the elites have botched. Since they are already being asked to pay for the problems caused by the elites, many believe that the people should have more say in how and by whom Europe is controlled.
As reasonable as this might sound, by no means does it make as much sense as it seems at first glance. Even after the democratization of Europe, the elites in Brussels and Strasbourg will still be in charge. The only option available to the European people, to the extent that they can be referred to as such, would be to react to obvious failure by voting their leaders out of office -- and to vote an opposing elite to take their place. Whether this would fundamentally change anything is open to question.
Brussels, also the capital of Belgium, is particularly well suited to show that democracy does not automatically lead to the installation of capable elites. Since last summer's elections, Belgium's political parties have been unable to form a functioning new government. Belgium's democracy suffers from ethnic quotas and political parceling. It has long been incapable of reaching the most basic decisions. And, now, not even compromises are feasible.
DAVID Cameron last night promised to negotiate a new relationship between Britain and the European Union that will bring back power to Westminster from Brussels.Well, to start with, we do not have a relationship with the EU, we are part of it. What sort of relationship does Devon or Sussex have with the United Kingdom?
In a shift in Government policy, the Prime Minister predicted that fresh opportunities for loosening the UK’s ties to the EU were certain to arise as a result of the eurozone crisis.
He said: “I got us out of the bailout mechanism, which has been used repeatedly and from 2013 cannot be used again, so I think I exacted a good and fair price for Britain.”Jam tomorrow, and today we pay. Also,one can't help wondering whether this is yet another cast-iron guarantee. The great shift in the British position, according to James Forsyth who conducted the interview is an acceptance that the eurozone may not be such a wonderful idea after all and a stable eurozone, not being something that will be achieved any time soon, does not need to be part of British calculations. That's it. Oh and bringing power back to Westminster.
To ask Her Majesty's Government whether they will take steps to ensure any decisions regarding further bail-outs for the Greek economy are not made using qualified majority voting.HMG in the person of Lord Sassoon said:
The Government have been clear that the UK should not participate in a new financial assistance package for Greece. At the European Council on 24 June 2011, the Prime Minister secured explicit assurance that a new programme for Greece would be supported by its euro area partners and the IMF, not the European Union as a whole.We shall see about the EU as a whole but the IMF does, let us not forget, include this country as well.
The minister acknowledged that European countries do not always act in unison.The problem remains that common foreign policy cannot be produced without there being a common European interest, which does not exist. However, Mr Vanackere does understand that the structure can be created anyway and put into place without people noticing too much, as has already happened with the External Action Service.
We are experiencing a shift of foreign policy paradigm, Vanackere said, adding: It will still take time.
But the challenge should inspire us.
Vanackere stressed that what he acknowledged was a hybrid of policymaking between national governments, which always will reserve the right to make decisions about war and peace, and a growing EU role and bureaucracy in international negotiations.One day it will be fully in existence (though not functional)and even Conservative "eurosceptics" and the various front organizations will be aware of it.
The majority of Icelanders want to withdraw Iceland's application to join the European Union according to a fresh opinion poll produced by Capacent Gallup for Heimssýn, the Icelandic No-movement.You mean the project is not so attractive after all?
51 percent favour withdrawal of the application, 38.5 percent want to carry on with it, and 10.5 percent have not made up their minds. If only those in favour or opposed to withdrawing the application are counted about 57 percent want to withdraw it.
We now have a genuinely eurosceptic Prime Minister who is better placed to deliver than any of his predecessors, including Thatcher. He means business, can be ruthless when necessary but enjoys good relations with other EU leaders and does it all with a smile. The role of the Conservative Party should be to urge him forward to the challenge and, most of all, help him devise that plan for a radical overhaul of the EU.I thought we have finally got over the mantra of Cameron being a real eurosceptic even if his euroscepticism is so well hidden that nobody, not even Iain Martin can see it any more. To be fair, even those commenting on the piece and, therefore, loyal followers of ConHome, have found that hilarious.
Strauss-Kahn’s legal team has hired the world’s best private investigators to ferret out every detail about the the accuser’s past.There also seems to be some evidence of her being connected with drug dealers. The New York Times has more.
They have unearthed photographs of her drinking and partying, despite her professed Muslim faith, sources told The Post.
Prosecutors from the office of the Manhattan district attorney, Cyrus R. Vance Jr., who initially were emphatic about the strength of the case and the account of the victim, plan to tell the judge on Friday that they “have problems with the case” based on what their investigators have discovered, and will disclose more of their findings to the defense. The woman still maintains that she was attacked, the officials said.All of that does not necessarily make her accusation against DSK untrue, as Glenn Reynolds points out, but it does make her an unreliable witness whom the prosecutors will not like to put in the box for cross-examination.
“It is a mess, a mess on both sides,” one official said.
According to the two officials, the woman had a phone conversation with an incarcerated man within a day of her encounter with Mr. Strauss-Kahn in which she discussed the possible benefits of pursuing the charges against him. The conversation was recorded.
That man, the investigators learned, had been arrested on charges of possessing 400 pounds of marijuana. He is among a number of individuals who made multiple cash deposits, totaling around $100,000, into the woman’s bank account over the last two years. The deposits were made in Arizona, Georgia, New York and Pennsylvania.
The investigators also learned that she was paying hundreds of dollars every month in phone charges to five companies. The woman had insisted she had only one phone and said she knew nothing about the deposits except that they were made by a man she described as her fiancé and his friends.
In addition, one of the officials said, she told investigators that her application for asylum included mention of a previous rape, but there was no such account in the application. She also told them that she had been subjected to genital mutilation, but her account to the investigators differed from what was contained in the asylum application.