IMF confirmed international loan to Latvia

By Nina Kolyako, BC, Riga,
December 24 2008

Yesterday evening, the International Monetary Fund’s (IMF) board confirmed an international loan to Latvia.

Latvia will receive EUR 7.5 billion (LVL 5.27 billion) worth of financial support, writes LETA.

The European Union plans to allocate a medium-term loan to Latvia worth up to EUR 3.1 billion (LVL 2.18 billion).

Also participating in issuing Latvia the loan is the International Monetary Fund (IMF) – EUR 1.7 billion (LVL 1.19 billion), Sweden, Denmark, Finland and Norway – EUR 1.8 billion (LVL 1.27 billion), and the World Bank – EUR 0.4 billion (LVL 0.28 billion).

The European Reconstruction and Development Bank, the Czech Republic, Poland and Estonia will allocate Latvia another EUR 0.5 billion (LVL 0.35 billion), which is a total of EUR 7.5 billion (LVL 5.27 billion).

The loan will be issued to Latvia gradually over the next three years.

Source

Published in: on December 27, 2008 at 4:38 am  Comments Off on IMF confirmed international loan to Latvia  
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Did being part of the EU protect them from the Financial Crisis

Turmoil Spurs US Plant Closures, EU Layoffs At ArcelorMittal

December 10th, 2008

By Alex MacDonald

In a sign of the severity of the economic downturn, ArcelorMittal (MT), the world’s largest steelmaker, announced plans to close two U.S. steel processing plants and lay off several hundred workers in the European Union.

ArcelorMittal plans to close its finished steel processing plant in Lackawanna, N.Y., by the end of April and plans to close its finished steel processing plant in Hennepin, Ill., sometime in the future, although no date was disclosed. The two closures will result in 545 job losses, 260 of which are located at the N.Y. plant and 285 of which are located at the Illinois plant.

Meanwhile, ArcelorMittal rolled out voluntary redundancy programs in Europe over the past week or so that would eliminate 3,550 mostly white-collar jobs through voluntary layoffs. The company is eyeing 6,000 job cuts in Europe out of 9,000 job cuts globally.

The closures and layoffs are in line with the company’s plans to cut 35% of its global steel production capacity during the fourth quarter and saving $1 billion annually by cutting 3% of its global workforce.

Both steel plants supply the auto market, where demand has slumped so dramatically that the U.S.’s three largest car manufacturers are now seeking federal government funds to avert bankruptcy.

The closures are part of ArcelorMittal’s global restructuring program to weather the economic downturn.

The decision to close ArcelorMittal Lackawanna was “purely an economic business decision based on the extraordinary economic conditions we face today,” the company said in a statement.

The Lackawanna plant has inherent disadvantages due to its location that lead to higher costs, longer customer lead times, and higher inventory levels than other ArcelorMittal finishing facilities in the US, the company said.

Meanwhile, at Hennepin, “the company had to make the tough decision to close the…facility, consolidate operations and move production to other ArcelorMittal facilities in the U.S.” in order to remain competitive.

ArcelorMittal now has announced plans to lay off 19% of its U.S. salaried workforce of 15,543 people and has announced more than half of its planned job cuts in Europe.

The United Steelworkers union and other relevant stakeholders were notified about the plant closures and job layoffs. They are now negotiating with the Luxembourg-based company to arrive at a compromise.

Jim Robinson, the director of USW’s District 7 said the union was aware that ArcelorMittal faced operational issues at the two plants but was surprised by the company’s decision to close the plants.

“They called us before they announced but we did not know this specifically” beforehand, he said.

Robinson dismissed views that ArcelorMittal has underinvested in the plants. “I don’t think the issue is lack of investment over time, I think it’s an issue of the company’s overall strategy.” He declined to elaborate further.

ArcelorMittal is one of many steelmakers globally that have announced production cuts and layoffs. U.S. Steel Corporation (X), the world’s tenth-largest steelmaker by volume, announced last week it would temporarily idle an iron ore mining facility and two steel works. The move will affect 3,500 employees.

Corus, Europe’s second largest steelmaker by volume and the European arm of India-based Tata Steel Ltd (500470.BY) has cut production by 30% and has shed about 500 jobs from the U.K.

In Europe, ArcelorMittal is seeking voluntary redundancies equal to 1,400 jobs in France, 800 in Belgium, 750 in Germany, and 600 in Spain. Most of them are white collar jobs. ArcelorMittal’s American depositary shares recently traded up 8.9% to $25.99 on the New York Stock Exchange.

Company Web site: http://www.arcelormittal.com

Source

EU businesses expect 1 million job losses in 2009

Brussels – European Union businesses called Monday for a cut in interest rates amid predictions that the bloc’s economic slowdown could lead to more than 1 million jobs being lost in 2009.

BusinessEurope, which groups national business federations from 34 European countries, also called on governments to ensure a continued flow of credit and to approve structural reforms aimed at improving the continent’s competitiveness.

According to its latest Economic Outlook, EU gross domestic product (GDP) is predicted to grow by just 0.4 per cent in 2009, compared to 1.4 per cent this year, with exports, imports and private consumption levels all slowing.

Unemployment is predicted to increase from 7 per cent to 7.8 per cent, with the loss of 1.1 million jobs, compared to a net job creation of more than 2 million in 2008.

“The most fundamental preoccupation of the business community is obviously the way in which the impact of the financial market turmoil will play out,” the paper said.

“Even though a fully-fledged credit crunch has not yet appeared in Europe, uncertainty about the impact for companies and consumer markets has increased tremendously.”

Source

SEMI Europe calls for investment to avoid mass job losses in semiconductor industry

December 10 2008

During the third SEMI Brussels forum, SEMI Europe declared that the decline in the European semiconductor industry could potentially put half a million European jobs at risk. SEMI Europe presented its White Paper to EU officials and urgently appealed for the EU and national policymakers to invest to support the European semiconductor industry citing the industries importance to the health and global competitiveness of the EU economy.

The equipment/materials producers and the semiconductor device manufacturers contribute around €29 billion to the EU economy and provide around 215,000 jobs. The European semiconductor industry is also a significant contributor to the GDP in EU countries such as France, Germany, Ireland, the Netherlands and the UK.

“If semiconductor manufacturers leave Europe, indigenous equipment & materials producers will face an uncertain future”, said Franz Richter, Chairman of the SEMI European Advisory Board. “The current economic crisis and rising unemployment underscore the urgent need to safeguard jobs in the European semiconductor industry. Supporting a robust and competitive semiconductor industry in Europe is critical to keeping jobs in Europe across all industries and supporting key European economies.”

The decline of the market share even during the increase in total volumes sold reflects that manufacturing is changing and moving away from Europe because of the unfavourable global level playing field conditions. The European equipment and materials manufacturers that supply the semiconductor industry with machinery and parts are for the most part small or medium-sized European businesses that heavily rely on the future European semiconductor industry to guarantee their own future and the 105,000 jobs they embody.

Further information on the Brussels forum is available here.

Source

Spanish auto sector highly exposed to global crisis

December 11 2008

By Robert Hetz

MADRID,

Spain’s car industry, which became Europe’s third largest, thanks to a cheap workforce, has lost cost advantage and could shrink as companies slash costs at foreign plants and save politically-sensitive jobs at home.

As executives at multinational manufacturers weigh up Spain’s ageing factories, relatively high wage costs and weak competitiveness against their own domestic markets and cheaper alternatives, the country’s plants are clear targets as the credit crunch saps demand all over the world.

“The big decisions are being taken abroad, not here, and managers in London, Paris and Detroit prefer to close a plant here and not in their home market,” said the director of one Spanish parts plant, who asked not to be named.

Unlike Germany, France or Italy, Spain’s auto industry has no nationally-owned car maker and little control over decisions on the future of its 18 foreign-owned plants, which employ around 70,000 people.

And unlike the case of Britain, Spain’s plants are older and less productive, and the country lacks a more skilled workforce or much tradition of home-grown research and development.

Global car makers, also including Peugeot, Opel and Volkswagen, built most of their Spanish plants in the 1970s when Spain was a low-cost backwater, well placed to serve Northern European markets.

Since the 70s, Spain has lost its price advantage as living standards have caught up with the European average. In 2007, per capita income overtook that of Italy. At the same time, new competitors have emerged as low-cost manufacturing centres.

Spain’s auto-sector salaries averaged 22.83 euros ($29.64) an hour last year, above the European average and around three times the 6.93 euros in Poland and 8.83 euros in the Czech Republic, Europe’s new manufacturing hubs, alongside North Africa.

NORTH AFRICA PASSES SPAIN FOR RENAULT

Renault plans to make 200,000 cars at its plants in North Africa in 2010 and double that within a couple of years, overtaking production from its Spanish operations.

The global credit crunch has hurt demand for new cars across Europe, with new car registrations in November falling 36.8 percent in the UK, 18 percent in Germany, 30 percent in Italy and 50 percent in Spain.

With some 84 percent of cars built in Spanish plants for export, manufacturers are finding fewer financial or political reasons for remaining in the country as international competition rises.

Spanish plants are ideal candidates for the inevitable cuts across Europe, head of Ford Espana Jose Manuel Machado said, as salaries rise and productivity fails to rise at a similar rate.

Machado’s comments came before the U.S. company announced production cuts of 120,000 units at its Almussafes plant in Valencia, and the temporary layoff of 5,200 workers.

Job cuts are expected from most of the major manufacturers, with more than 60 filings listing potential layoffs by private companies made to the government, which may affect up to 40,000 workers, Spain’s main union UGT said.

As Spain’s unemployment rate soars to the highest in the European Union and the economy nears recession, the government is keen to keep the industry, which accounts for around 5 percent of gross domestic product, in the country.

Spain has earmarked 800 million euros for the sector as part of measures worth a total of around 50 billion euros to stimulate the economy.

But this aid may not be enough.

“It’s a good gesture from the government, but obviously the amount of money is insufficient. It would be less than 80 million euros per manufacturer,” said Jose Antonio Bueno of consultancy Europraxis.

The sharp fall in new car sales in Spain has also affected the manufacturers’ showrooms and spare parts centres throughout the country.

Concessions for new and second-hand cars and garages employ around 278,000 people in Spain, and 16,000 of those jobs are at risk, the association for the sector, Ganvam, estimates.

“Four years ago we sold two or three cars a day, but now its not even two a week,” said Adela Benito, who has worked in a Madrid-based Renault showroom for 20 years. (Reporting by Robert Hetz; Additional reporting by Tomas Gonzalez; Writing by Paul Day; Editing by Rupert Winchester)

Source

Swedes want government bailout for Volvo

In a new survey just released, 68 percent of Swedes want to see the Swedish government bail out its beleaguered carmaker Volvo. Although Volvo is owned by US carmaker Ford, Swedes would like its government to temporarily take control of the nation’s iconic firm, as many residents fear Volvo may disappear entirely from Sweden in the near future.

The Local newspaper reports that support for government intervention is piling in from all sides of the political arena. Some 65 percent of those polled who support the bailout side with one of the governing Alliance parties, and 73 percent of all left bloc voters approve of a government bailout.

Peter Larsson of the Swedish Association of Graduate Engineers points out that Volvo’s current crisis is not minor. “One thing is certain, there are no dollars on their way over the Atlantic,” Larsson said, referring to the massive problems currently faced by the “Big Three” US carmakers – Ford, Chrysler, and (Saab-owner) General Motors.

Rolf Wolff, dean of the school of business at Gothenburg University, told The Local: “If Volvo Cars disappears as a base for industrial knowledge and skills, then Sweden will never again be a part of the auto industry. All the knowledge and skills would be lost, and with it all future associated development potential would be gone.”

Maud Olofsson, Sweden’s minister of trade and industry, has expressed doubts whether the government would be able to better manage Volvo than the car firm itself. For now, the issue has been placed on the political back burner, but the crisis at Volvo and Ford goes on.

Source

This is just the tip of the iceburg.  Seems no one is safe from the Financial Crisis. Not even EU members.

There are 27 member of the European Union.

austria 1. Austria
belgium 2. Belgium
UK 3. UK
denmark 4. Denmark
germany 5. Germany
greece 6. Greece
ireland 7. Ireland
spain 8. Spain
italy 9. Italy
luxembourg 10. Luxembourg
netherlands 11. Netherlands
portugal 12. Portugal
finland 13. Finland
france 14. France
sweden 15. Sweden
cyprus 16. Cyprus
czech 17. Czech Republic
estonia 18. Estonia
hungary 19. Hungary
latvia 20. Latvia
lithuania 21. Lithuania
malta 22. Malta
poland 23. Poland
slovakia 24. Slovakia
slovenia 25. Slovenia
bulgaria 26. Bulgaria
romania 27. Romania

EU members and when they joined.

1952 Belgium, France, Germany, Italy, Luxembourg, Netherlands

1973 Denmark, Ireland, United Kingdom

1981 Greece

1986 Portugal, Spain

1995 Austria, Finland, Sweden

2004 Cyprus, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia, Slovenia

2007 Bulgaria, Romania

Source

Hungary’s Letter of Intent to the IMF

World Bank lends to Bulgaria to tackle poverty, jobless

Latvia mulling IMF loan as crisis sweeps Nordic region

EU, Iceland, Canada Suffering Fall Out, Caused By US Crisis

Europeans Angry at their Money being Used for Bailouts

The £2trillion question for British economy

Europe catches America’s financial disease

How Britain’s banks will never be the same again

Economist, deregulation and loose fiscal policies lead to Meltdown

World Leaders Must Roll Back Radical WTO Financial Service Deregulation

Ryanair to appeal EU’s ‘corrupt’ support of Alitalia takeover

Ashley Mote Revealing European Union Corruption

The EU budget is necessarily corrupt

EU leaders tear up rules of Eurozone

Starting to remind me of the Corruption in the US where the Crisis started.

141 states support Depleted Uranium Ban

Campaign Against Depleted Uranium

Sign Petition to Ban DU

What is DU?

  • Depleted Uranium is a waste product of the nuclear enrichment process.
  • After natural uranium has been ‘enriched’ to concentrate the isotope U235 for use in nuclear fuel or nuclear weapons, what remains is DU.
  • The process produces about 7 times more DU than enriched uranium.

Despite claims that DU is much less radioactive than natural uranium, it actually emits about 75% as much radioactivity. It is very dense and when it strikes armour it burns (it is ‘pyrophoric’). As a waste product, it is stockpiled by nuclear states, which then have an interest in finding uses for it.

DU is used as the ‘penetrator’ – a long dart at the core of the weapon – in armour piercing tank rounds and bullets. It is usually alloyed with another metal. When DU munitions strike a hard target the penetrator sheds around 20% of its mass, creating a fine dust of DU, burning at extremely high temperatures.

This dust can spread 400 metres from the site immediately after an impact. It can be resuspended by human activity, or by the wind, and has been reported to have travelled twenty-five miles on air currents. The heat of the DU impact and secondary fires means that much of the dust produced is ceramic, and can remain in the lungs for years if inhaled.

Who uses it?
At least 18 countries are known to have DU in their arsenals:

  • UK
  • US
  • France
  • Russia
  • China
  • Greece
  • Turkey
  • Thailand
  • Taiwan
  • Israel
  • Bahrain
  • Egypt
  • Kuwait
  • Saudi Arabia
  • India
  • Belarus
  • Pakistan
  • Oman

Most of these countries were sold DU by the US, although the UK, France and Pakistan developed it independently.

Only the US and the UK are known to have fired it in warfare. It was used in the 1991 Gulf War, in the 2003 Iraq War, and also in Bosnia-Herzegovina in the 1990s and during the NATO war with Serbia in 1999. While its use has been claimed in a number of other conflicts, this has not been confirmed.

Health Problems

  • DU is both chemically toxic and radioactive. In laboratory tests it damages human cells, causing DNA mutations and other carcinogenic effects.
  • Reports of increased rates of cancer and birth defects have consistently followed DU usage.
  • Representatives from both the Serbian and Iraqi governments have linked its use with health problems amongst civilians.
  • Many veterans remain convinced DU is responsible for health problems they have experienced since combat

Information from animal studies suggests DU may cause several different kinds of cancer. In rats, DU in the blood-stream builds up in the kidneys, bone, muscles, liver, spleen, and brain. In other studies it has been shown to cross both the blood-brain barrier and the placenta, with obvious implications for the health of the foetus. In general, the effects of DU will be more severe for women and children than for healthy men.

In 2008 a study by the Institute of Medicine in the US listed medical conditions that were a high priority to study for possible links with DU exposure: cancers of the lung, testes and kidney; lung disease; nervous system disorders; and reproductive and developmental problems.


Epidemiology

What is missing from the picture is large-scale epidemiological studies on the effects of DU – where negative health effects match individuals with exposure to DU. None of the studies done on the effects on soldiers have been large enough to make meaningful conclusions. No large scale studies have been done on civilian populations.

In the case of Iraq, where the largest volume of DU has been fired, the UK and US governments are largely responsible for the conditions which have made studies of the type required impossible. Despite this, these same governments use the scientific uncertainties to maintain that it is safe, and that concerns about it are misplaced.

However, in cases where human health is in jeopardy, a precautionary approach should prevail. Scientific scepticism should prevent a hazardous course of action from being taken until safety is assured. To allow it to continue until the danger has been proved beyond dispute is an abuse of the principle of scientific caution.

Environmental Impacts
The UN Environment Programme (UNEP) has studied some of the sites contaminated by DU in the Balkans, but it has only been able to produce a desk study on Iraq. Bullets and penetrators made of DU that do not hit armour become embedded in the ground and corrode away, releasing material into the environment.

It is not known what will happen to DU in the long term in such circumstances. The UNEP mission to Bosnia and Herzegovina found DU in drinking water, and could still detect it in the air after seven years – the longest period of time a study has been done after the end of a conflict.

Uranium has a half life of 4.5 billion years, so DU released into the environment will be a hazard for unimaginable timescales.

Decontaminating sites where DU has been used requires detailed scrutiny and monitoring, followed by the removal and reburial of large amounts of soil and other materials. Monitoring of groundwater for contamination is also advised by UNEP. CADU calls for the cost of cleaning up and decontaminating DU affected sites to be met by the countries responsible for the contamination.

The Campaign
CADU is a founder member of the International Coalition to Ban Uranium Weapons (ICBUW) – now comprising over 102 member organisations in 27 countries.

CADU and ICBUW campaign for a precautionary approach: there is significant evidence that DU is dangerous, and faced with scientific uncertainty the responsible course of action is for it not to be used. To this end CADU and ICBUW are working towards an international treaty that bans the use of uranium in weapons akin to those banning cluster bombs and landmines.

Through the efforts of campaigners worldwide the use of DU has been condemned by four resolutions in the European Parliament, been the subject of an outright ban in Belgium, and brought onto the agenda of the United Nations General Assembly.

Source

Sign Petition to Ban DU

International Campaign to Ban Uranium Weapons

141 states support second uranium weapons resolution in UN General Assembly vote

The United Nations General Assembly has passed, by a huge majority, a resolution requesting its agencies to update their positions on the health and environmental effects of uranium weapons.
December 2 2008

The resolution, which had passed the First Committee stage on October 31st by 127 states to four, calls on three UN agencies – the World Health Organisation (WHO), the International Atomic Energy Agency (IAEA) and the United Nations Environment Programme (UNEP) to update their positions on uranium weapons. The overwhelming support for the text reflects increasing international concern over the long-term impact of uranium contamination in post-conflict environments and military ranges.

In the 17 years since uranium weapons were first used on a large scale in the 1991 Gulf War, a huge volume of peer-reviewed research has highlighted previously unknown pathways through which exposure to uranium’s heavy metal toxicity and radioactivity may damage human health.
Throughout the world, parliamentarians have responded by supporting calls for a moratorium and ban, urging governments and the military to take a precautionary approach. However the WHO and IAEA have been slow to react to this wealth of new evidence and it is hoped that this resolution will go some way to resolving this situation.

In a welcome move, the text requests that all three agencies work closely with countries affected by the use of uranium weapons in compiling their research. Until now, most research by UN member states has focused on exposure in veterans and not on the civilian populations living in contaminated areas. Furthermore, recent investigations into US veteran studies have found them to be wholly incapable of producing useful data.

The text also repeats the request for states to submit reports and opinions on uranium weapons to the UN Secretary General in the process that was started by last year’s resolution. Thus far, 19 states have submitted reports to the Secretary General; many of them call for action on uranium weapons and back a precautionary approach. It also places the issue on the agenda of the General Assembly’s 65th Session; this will begin in September 2010.

The First Committee vote saw significant voting changes in comparison to the previous year’s resolution, with key EU and NATO members such as the Netherlands, Finland, Norway and Iceland changing position to support calls for further action on the issue. These changes were echoed at the General Assembly vote. Once again Japan, which has been under considerable pressure from campaigners, supported the resolution.

Of the permanent five Security Council members, the US, UK and France voted against. They were joined by Israel. Russia abstained and China refused to vote.

The list of states abstaining from the vote, while shorter than in 2007, still contains Belgium, the only state to have implemented a domestic ban on uranium weapons, a fact that continues to anger Belgian campaigners. It is suspected that the Belgian government is wary of becoming isolated on the issue internationally. Two Nordic states, Denmark and Sweden continue to blow cold, elsewhere in Europe Poland, the Czech Republic, Portugal and Spain are also dragging their feet, in spite of a call for a moratorium and ban by 94% of MEPs earlier this year. Many of the abstainers are recent EU/NATO accession states or ex-Soviet republics such as Kazakhstan.

Australia and Canada, both of whom have extensive uranium mining interests and close ties to US foreign policy also abstained.

The resolution was submitted by Cuba and Indonesia on behalf of the League of Non-Aligned States.

Voting results in full

In favour:

Afghanistan, Algeria, Angola, Antigua and Barbuda, Argentina, Armenia, Austria, Azerbaijan, Bahamas, Bahrain, Bangladesh, Barbados, Belarus, Belize, Benin, Bhutan, Bolivia, Botswana, Brazil, Brunei Darussalam, Burkina Faso, Burundi, Cambodia, Cameroon, Cape Verde, Chile, Colombia, Comoros, Congo, Costa Rica, Côte d’Ivoire, Cuba, Cyprus, Democratic People’s Republic of Korea, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Equatorial Guinea, Eritrea, Ethiopia, Finland, Germany, Ghana, Grenada, Guatemala, Guinea, Guinea-Bissau, Guyana, Haiti, Honduras, Iceland, India, Indonesia, Iran, Iraq, Ireland, Italy, Jamaica, Japan, Jordan, Kenya, Kuwait, Lao People’s Democratic Republic, Lebanon, Lesotho, Liberia, Libya, Liechtenstein, Madagascar, Malawi, Malaysia, Maldives, Mali, Malta, Marshall Islands, Mauritania, Mauritius, Mexico, Mongolia, Montenegro, Morocco, Mozambique, Myanmar, Namibia, Nauru, Nepal, Netherlands, New Zealand, Nicaragua, Niger, Nigeria, Norway, Oman, Pakistan, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Qatar, Rwanda, Saint Lucia, Saint Vincent and the Grenadines, Samoa, San Marino, Sao Tome and Principe, Saudi Arabia, Senegal, Serbia, Singapore, Solomon Islands, South Africa, Sri Lanka, Sudan, Suriname, Swaziland, Switzerland, Syria, Tajikistan, Thailand, Timor-Leste, Togo, Tonga, Trinidad and Tobago, Tunisia, Turkmenistan, Tuvalu, Uganda, United Arab Emirates, United Republic of Tanzania, Uruguay, Uzbekistan, Vanuatu, Venezuela, Viet Nam, Yemen, Zambia, Zimbabwe.

Against:

France, Israel, United Kingdom, United States.

Abstain:

Albania, Andorra, Australia, Belgium, Bosnia and Herzegovina, Bulgaria, Canada, Croatia, Czech Republic, Denmark, Estonia, Georgia, Greece, Hungary, Kazakhstan, Kyrgyzstan, Latvia, Lithuania, Luxembourg, Micronesia (Federated States of), Palau, Poland, Portugal, Republic of Korea, Republic of Moldova, Romania, Russian Federation, Slovakia, Slovenia, Spain, Sweden, The former Yugoslav Republic of Macedonia, Turkey, Ukraine.

Absent: Central African Republic, Chad, China, Democratic Republic of the Congo, Fiji, Gabon, Gambia, Kiribati, Monaco, Saint Kitts and Nevis, Seychelles, Sierra Leone, Somalia.

Source

Honor Vets by Learning About Depleted Uranium

November 11, 2008

by Barbara Bellows

As Europe mourns in Verdun today for those lost in “The War to End All Wars”, World War I, we could look to another moment in European history to shed light on the most aggressively silenced story of the Bush administration.

In late 2000 and January 2001, reports were exploding across Europe about the rise in cancer amongst NATO soldiers who had served in the “peacekeeping missions” in Bosnia and Kosovo. The effects of the depleted uranium in the U.S. and U.K. weapons could not be ignored.

But history shows that the United Nations and the World Health Organization could be intimidated. The report from the WHO – that detailed how the DU vaporized upon impact into tiny particles that were breathed in, or consumed through the mouth or entered through open wounds, where the irradiating bits attacked cells all the way through the body, causing mutations along the way – was shelved under pressure from the U.S.

Even now, the major U.S. news organizations do not touch the subject, though the international press cannot ignore it. Even last month, a Middle Eastern Reuters reporter discussed the health damages because of the contaminated environment with Iraqi En Iraqi Environment Minister Nermeen Othman,

“When we talk about it, people may think we are overreacting. But in fact the environmental catastrophe that we inherited in Iraq is even worse than it sounds.”

And The Tehran Times further endangers their country by continuing to report on the problem, calling it a war crime.

And across the internet, retired Air Force Lt. Col. Roger Helbig seeks to intimidate anyone who dares to bring up the subject.

But we evolve, and the United Nations First Committee has overwhelmingly passed a resolution, on October 31st, calling for “relevant UN agencies, in this case the International Atomic Energy Association (IAEA), World Health Organisation (WHO) and United Nations Environment Programme (UNEP) to update and complete their research into the possible health and environmental impact of the use of uranium weapons by 2010.” The only countries that voted against it were the United States, the United Kingdom, Israel and France.

Meanwhile, to help the reader get to the point, I’ve put together the following.  Although the facts, for the most part, do not contain links, there is a list of the references at the end.

Ten Essential Facts:

1. Depleted uranium, the nuclear waste of uranium enrichment, is not actually “depleted” of radiation; 99.3% of it is Uranium238, which still emits radioactive alpha particles at the rate 12,400/second, with an estimated half life of 4.5 billion years.

2. Depleted uranium is plentiful – there are 7 pounds remaining for every pound of enriched uranium – and requires expensive and often politically-contentious hazardous waste storage.

3. Depleted uranium is less of a problem for the nuclear industry when it is cheaply passed on to U.S. weapons manufacturers for warheads, penetrators, bunker-busters, missiles, armor and other ammunition used by the U.S. military in the Middle East and elsewhere, and sold to other countries and political factions.

4. Depleted uranium is “pyrophoric”, which makes it uniquely effective at piercing hard targets, because upon impact, it immediately burns, vaporizing the majority of its bulk and leaving a hard, thin, sharpened tip – and large amounts of radioactive particles suspended in the atmosphere.

5. Depleted uranium weaponry was first used in the U.S. bombing of Iraq in 1991, under President George H. W. Bush and Defense Secretary Dick Cheney.

6. Depleted uranium weaponry was later used by President Bill Clinton in the NATO “peace-keeping” bombing missions in Bosnia, Kosovo and Serbia. By January 2001, as the 2nd President Bush and Dick Cheney were moving in to the White House, there was a furor in Europe over the news of an alarming increase in leukemia and other cancers amongst the NATO troops who’d served in the Balkans.

7. The World Health Organization suppressed a November 2001 report on the health hazards of depleted uranium by Dr. Keith Baverstock, Head of the WHO’s Radiation Protection Division and his team, commissioned by the United Nations. Baverstock’s report, “Radiological Toxicity of Depleted Uranium”, detailed the significant danger of airborne vaporized depleted uranium particles, already considerably more prevalent in Iraq than the Balkans due to the difference in military tactics, because they are taken into the body by inhaling and ingesting, and then their size and solubility determines how quickly they move through the respiratory, circulatory and gastrointestinal systems, attacking and poisoning from within as they travel, and where the damages occur. In addition, the report warns that the particles tend to settle in the soft tissue of the testes, and may cause mutations in sperm. In 2004 Dr. Baverstock, no longer at the WHO, released the report through Rob Edwards at Scotland’s Sunday Herald.

8. The George W. Bush/Dick Cheney administration twisted the meaning of the failure of the World Health Organization to produce evidence of depleted uranium’s health hazards, turning it into evidence that there was no link between exposure to depleted uranium and the increases in cancer in Europe and Iraq; instead, as presented in the January 20, 2003 report by the new Office of Global Communications, ironically titled Apparatus of Lies: Saddam’s Disinformation and Propaganda 1990 – 2003, the depleted uranium uproar was only an exploitation of fear and suffering. Two months later, Bush-Cheney-Rumsfeld-Wolfowitz-Rice began to “Shock and Awe” Baghdad by again dropping tons of depleted uranium bombs on densely populated areas.

9. On March 27, 2003, significant increases in depleted uranium particles in the atmosphere were detected by the air sampler filter systems of the Atomic Weapons Establishment at 8 different sites near Aldermaston Berkshire, Great Britain, and continued at 4-5 times the previous norm until the end of April 2003, after the Coalition forces declared the war over. This information only came to light in a report on January 6, 2006 by Dr. Chris Busby, due to his diligent fight for access to the data through Britain’s Freedom of Information law.

10. We have a new, intelligent President, who is willing to listen.  It is up to us to bring this to his attention.  THIS IS HOW WE CAN HONOR VETERANS.

VALUABLE REFERENCES:

Department of Defense description of self-sharpening depleted uranium: click here

Dr. Keith Baverstock’s November 2001 report, suppressed by the World Health Organization:
Rob Edwards article on Baverstock:

Karen Parker, a Human Rights and Humanitarian Law Lawyer:  Scroll down on the page and you’ll find her documents on DU.

January 2003 White House Report – Apparatus of Lies:

January 2006 Chris Busby report: click here

Source

Depleated Uranium Information

Or Google it there is tons of information out there.

Be sure to encourage those who are still not supporting the ban,  that it  is something that needs to be banned.

This is an extremely dangerous form of Pollution.

We, the people, need to let governments and the United Nations know that these weapons can have no part in a humane and caring world. Every signature counts!

  1. An immediate end to the use of uranium weapons.
  2. Disclosure of all locations where uranium weapons have been used and immediate removal of the remnants and contaminated materials from the sites under strict control.
  3. Health surveys of the ‘depleted’ uranium victims and environmental investigations at the affected sites.
  4. Medical treatment and compensation for the ‘depleted’ uranium victims.
  5. An end to the development, production, stockpiling, testing, trade of uranium weapons.
  6. A Convention for a Total Ban on Uranium Weapons.

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Published in: on December 4, 2008 at 1:10 pm  Comments Off on 141 states support Depleted Uranium Ban  
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Latvia mulling IMF loan as crisis sweeps Nordic region

November 9 2008

Latvia has been forced to bail out its second largest bank over the weekend and may soon need a rescue by the International Monetary Fund as the financial crisis engulfs the Baltic region, and much of Scandinanvia.

Premier Ivars Godmanis stunned the country by announcing that Parex banka had been half-nationalised in an attempt to head off a serious crisis in the face of escalating capital flight from the country.

“We have to do everything to avoid trouble, not only for specific banks, but for the banking system as a whole,” he said.

Mr Godmanis said Latvia was examining a raft of measures to rescue the economy, including possible aid from the IMF and European Union. Iceland, Hungary, and Ukraine have already obtained loans for the IMF.  Iceland awaits IMF decision on Monday

Latvia is facing a brutal recession after years of torrid credit growth and one of the most extreme property bubbles in Eastern Europe. The economy contracted by 4.2pc in the third quarter.

House prices have fallen 21pc over the last year, according to Global Property Guide. The swing from boom to bust has been made worse by heavy use of mortgages in euros, Swiss francs, and yen.

The rating agencies have rushed through a spate of downgrades in recent days for the Baltic trio of Latvia, Estonia, and Lithuania, warning that heavily reliance on short-term foreign funding has left them dangerously exposed to the global squeeze.

“If the situation were to worsen, Latvia could be forced to seek balance-of-payments support from the EU or the International Monetary Fund,” said Kenneth Orchard, senior analyst at Moody’s

“The global liquidity crisis will probably cause a shock to the Latvian banking system, which will reverberate throughout the rest of the economy. Unless there are major improvements in the European syndicated loan market by early 2009, the government will be forced to take remedial action.”

Oskars Firmanus, head of the Latvian consultancy Paus Konsults, said the Parex rescue had badly shaken depositors in Riga. “It has come as a big surprise. The bank has been very secretive and did not tell anybody there was a problem. People have been lining on the streets over the weekends trying to get their money out of ATM machines,” he said.

Swedish banks have large exposure to the Baltic market, adding to their woes as the industrial downturn hits Scandinavia.

The IMF warned in a recent report that the Baltic operations of Stockholm’s banks “could cause a credit crunch in Sweden itself” if the closure of the wholesale capital markets continues for much longer. Total lending to Eastern Europe by Swedish banks is equal to 25pc of the country’s GDP.

Swedbank dominates lending in Latvia and Estonia, while SEB is the biggest lender to Lithuania. The share price of the two banks have fallen by 70pc from their peak.

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Published in: on November 10, 2008 at 4:22 am  Comments Off on Latvia mulling IMF loan as crisis sweeps Nordic region  
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Lithuania Central Bank cuts reserve ratio for banks

VILNIUS,

November 6 2008

Lithuania’s central bank said on Thursday it had decided to cut the obligatory reserve ratio for commercial banks to 4 percent from 6 percent to boost liquidity, the first reserve ratio cut for six years.

A spokesman for the central bank said the move would free up about 1 billion litas ($372.4 million) of funds for banks.

Like other financial markets, the small Lithuanian money market has also suffered a liquidity squeeze during the global financial crisis and banks had urged the central bank to cut reserve requirements to free up funds.

(Reporting by Nerijus Adomaitis, writing by Patrick Lannin, editing by Mike Peacock)

VILNIUS,

November 6 2008

Lithuania’s central bank on Thursday cut reserve requirements for banks as the global credit squeeze finally made itself felt in the Baltic states’ small financial sector.

Analysts say that Latvia, Estonia and Lithuania, with high current account deficits and consumer debts, could be vulnerable to the kind of crisis which has forced Hungary to turn to the IMF, though Baltic leaders have played down this probability.

None of the three former Soviet states has had to launch a bank bailout or feed liquidity to its institutions like bigger nations in western Europe, but local money market rates have steadily risen and liquidity has dried up.

Lithuania’s central bank responded to the problem by reducing its obligatory reserve ratio for commercial banks to 4 percent from 6 percent to boost liquidity, the first reserve ratio cut for six years.

A spokesman for the central bank said the move would free up about 1 billion litas ($372.4 million) of funds for banks. Latvia’s central bank has also said that it will continue to cut reserve requirements for banks.

The bank sectors in Lithuania, Estonia and Latvia are dominated by Nordic groups such as SEB, Swedbank , Nordea and DNB NOR as well as a sprinkling of local banks such as Parex in Latvia and Snoras and Sialiu in Lithuania.

‘The central bank decision shows there are liquidity problems in the banking system,’ said Stasys Jakeliunas, a Lithuanian independent financial analyst.

He said this was also reflected in the fact that local overnight rates had risen from 4.6 percent on October 22 to 8 percent on Thursday. The six-month rate had risen 70 basis points from Wednesday to 9.2 percent today.

‘That indicates a sort of pre-crisis situation…The central bank’s decision to unfreeze some assets could help fix liquidity in the short run, but may not be enough in the longer term,’ Jakeliunas said.

A similar money market trend has been seen in Latvia.

There, the overnight rate has eased to about 3 percent from the 8 percent seen in mid-October, but the 6-month rate has spiked to 12.5 percent from 8 percent at the start of October, meaning long-term local financing is hard to come by.
The Latvian government this week said it would make available state guarantees for loans taken out by local banks, saying this was similar to measures taken by other EU nations to support their financial sectors.

The Latvian central bank has also been selling euros and buying lats in recent weeks as the lat currency has been stuck at the weak end of its 1 percent band against the euro.

(Reporting by Nerijus Adomaitis, writing by Patrick Lannin, editing by Patrick Graham)

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Published in: on November 6, 2008 at 1:01 pm  Comments Off on Lithuania Central Bank cuts reserve ratio for banks  
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