Headline News 05-11-2011
- Published in News & Comment
- |
Titles:
- Eurozone Debt Crisis: Markets Dive on Greek Referendum
- Western Crusaders Eye Libyan Riches
- US Plans Post-Iraq Build Up in Gulf
- $70bn Loss Suffered in Terror War: Zardari
Details:
Eurozone debt crisis: Markets dive on Greek referendum:
European markets have fallen following Monday's announcement of a Greek referendum on the latest aid package to solve its debt crisis. Eurozone leaders agreed a 50% debt write-off for Greece last week as well as strengthening Europe's bailout fund. But the announcement of a referendum has cast doubt on whether the deal will be able to go ahead. Italian Prime Minister Silvio Berlusconi said it was "an unexpected decision that generates uncertainties." Mr Papandreou told a meeting of his governing Socialist party on Monday that Greek people would have the final say on the austerity package, which is designed to reduce Greek debt by about 100bn euros through a series of measures including public sector pay cuts, tax rises and falling pensions. Greek opposition parties have accused Prime Minister George Papandreou of acting dangerously, and called for an early election. "Elections are a national necessity," conservative leader Antonis Samaras said, adding that Mr Papandreou was putting Greece's EU membership at risk. A confidence vote is due to take place in the Greek parliament on Friday. Mr Papandreou has 153 deputies in the 300-seat parliament, but has faced increasing dissent within his own party as well as through demonstrations across the country, some of them violent. Opinion polls in Greece suggest that most people do not support the deal.
The Greek Prime Minister's decision to put the awful EU aid package to a referendum clearly illustrates that the European Union is a union of unequals. This is where the rich countries are able to impose harsh condition on poorer countries for the repayment of debt. Such a system is bound to collapse, as other countries seek to exert their economic sovereignty over the EU by emulating Greece's example. It is quite ironic that Greece was once the cradle of democracy and soon it may prove to be democracy's deathbed.
Western crusaders eye Libyan riches:
The guns in Libya have barely quieted, and NATO's military assistance to the rebellion that toppled Col. Muammar el-Qaddafi, but a new invasion force is already plotting its own landing on the shores of Tripoli. Western security, construction and infrastructure companies that see profit-making opportunities receding in Iraq and Afghanistan have turned their sights on Libya, now free of four decades of dictatorship. Entrepreneurs are abuzz about the business potential of a country with huge needs and the oil to pay for them, plus the competitive advantage of Libyan gratitude toward the United States and its NATO partners. A week before Colonel Qaddafi's death on Oct. 20, a delegation from 80 French companies arrived in Tripoli to meet officials of the Transitional National Council, the interim government. Last week, the new British defense minister, Philip Hammond, urged British companies to "pack their suitcases" and head to Tripoli. "There is a gold rush of sorts taking place right now," said David Hamod, president and chief executive officer of the National U.S.-Arab Chamber of Commerce. "And the Europeans and Asians are way ahead of us. I'm getting calls daily from members of the business community in Libya. They say, ‘Come back, we don't want the Americans to lose out.' "
Now, after months of fighting, and with the security situation still fragile, there are huge new requirements, like rebuilding apartment complexes reduced to rubble by shelling, guarding oil installations as they restore or expand production, and training and equipping new armed forces. Mr. Hamod said American companies are often more hesitant than Chinese or some European companies about operating in a tumultuous environment like that of post-Qaddafi Libya. "There's reluctance to charge headlong back into Libya," he said. "Historically, U.S. companies are interested in the rule of law on the ground and what it might mean for a multimillion-dollar investment."
The crusaders after having deposed of their agent Gaddafi are now eager to rape and pillage Libya from all sides. The messenger of Allah (saw) said, "A time will come when the nations (of the world) will surround you from every side, just as diners gather around the main dish. Somebody asked, 'Oh Messenger of Allah, will it be on account of our scarcity at that time?' He said, 'No, but you will be scum, like the scum of flood water. Feebleness will be in your hearts, and fear will be removed from the hearts of your enemies, on account of your love for the world, and your abhorrence of death.'" [Ahmad, Abu Dawud]
US Plans Post-Iraq Build up in Gulf:
The New York Times newspaper reports the United States is negotiating with Kuwait to allow American combat troops to be based in the Persian Gulf area after completing the announced withdrawal from Iraq by the end of this year. The report says the talks are part of U.S. plans to boost its military presence in the Gulf so the United States is able to respond quickly in the event of a collapse of security in Iraq or a military confrontation with Iran. The Times says in addition to maintaining a combat presence in Kuwait, the United States is also considering sending more warships through international waters in the region. The size of the potential standby force has not been determined. There was no immediate confirmation of the Times report, which was based on interviews with unnamed military officials and diplomats. U.S. military plans in the region have been under discussion for months, but the Times said the talks became more urgent when President Barack Obama announced that the last American troops would leave Iraq by the end of December. The Times said the U.S. government is seeking to increase existing military ties with all members of the Gulf Cooperation Council - Saudi Arabia, Kuwait, Bahrain, Qatar, the United Arab Emirates and Oman.
The countries of the Gulf profess to be the servants of Islam, but in reality they spearhead America's war against the Muslim ummah by granting the crusader access to air bases and water ways and sharing invaluable intelligence against Muslim countries. America could not have fought the first and second Gulf war without their unstinting support. Nor can America maintain its hegemony in the region without assistance from the gulf countries. Islam forbids Muslims from granting non-Muslims authority over air bases, water ways and other assets. Allah says: "And never will Allah grant to the unbelievers a way (to triumph) over the believers." [TMQ 4:141]
$70bn loss suffered in terror war: Zardari:
President Asif Ali Zardari has said Pakistan has lost over 36,000 innocent men, women and children and suffered a direct economic loss of over $70 billion in the fight against terrorism. In an interview with leading Turkish newspaper Hurriyet, Mr Zardari, who is in Istanbul to attend a trilateral summit on Afghanistan, said: "No country has made greater contributions and sacrifices in fighting terrorism than Pakistan. We have lost our great leader and my wife Benazir Bhutto at the hands of terrorists. No-one should question our commitment or intentions in fighting the war."
In return for siding with America war against Islam, Pakistan only received $18bn. Hence, the country has suffered a net loss of $52bn, in addition to the loss of life, economic turmoil and insecurity. Anyone with a modicum of common sense can see that ruling elites' abandonment of Islam in exchange for siding with America has brought nothing but misery. Allah says in the Quran: "But whosoever turns away from My Message, verily for him is a very distressful life." [TMQ 20:124]
