The shooting of Constable Stephen Paul Carroll, 48, took place near Lismore High School at Brownlow,on Monday 9th March . Google Earth for this location says ... "we are sorry e don't have imagery available for this location"
This is a brief review of what the various media have reported since about the killing.
Two incidents, one of "suspicious activity", another involving a broken window and an agitated lady were apparently received by Craigavon Police.
The Police hesitated 45 inutes before responding to the calls for help, in what is a notoriuos area for Republican activity.(90% of public housing in NI is based on segregation)
After he arrived on the scene (with two unnamed officers) For some reason he entered the rear of the vehicle.
Constable Carroll was shot through the rear window of his car (remarkably a soft top unmarked Skoda saloon see pic ) at about 2145 GMT on Monday (it was dark). Tthe police arrived in so-called 'soft skin' vehicles - as part of the peace process, police have tried (it is said) to limit the use of their fortified Land Rovers
The assassin was located some 200 yds away on a grassy meadow / field overlooking the cul-de-sac where the Carroll was located .
Carroll was shot by a single and fatal head shot.
There were reports of someone fleeing wearing a light coloured coat.
This event was ;
1. Well planned.
2. The assassin was an exceptional shot.
3. The exit route was evidently well planned and probably rehearsed.
This was a very professional hit, well executed... and has so far sucessfully avoided detection.
It is interesting to speculate that there is some similarity with the death of the last British soldier to be killed by the IRA L/Bdr Stephen Restorick killed by a single bullet at a checkpoint in Bessbrook, south Armagh, in February 1997 shot by Bernard McGinn, of Castleblayney, Co Monaghan with a Barratt 50 (12.57mm x 9mm NATO ammunition) Lite sniper rifle
McGinn also admitted to murdering Lance Bombardier Paul Garrett in South Armagh 1993 and former Ulster Defence Regiment soldier Thomas Johnston in 1978.
Mc Ginn Bernard McGinn received 3 life sentences for the murder of Lance Bombardier Stephen Restorick, he was also sentenced to a total of 490 years for a catalogue of terrorist offences including making the bombs destined for Canary Wharf, the Baltic Exchange and Hammersmith Bridge in London.
But under the terms of the Good Friday Agreement McGinn and his accomplices, who formed part of an IRA sniper unit, were freed under the early release scheme, all terrorist prisoners sentenced for crimes committed before the agreement were released by 28 July, 2000.
The SAS also arrestd Michael Caraher, of the South Armagh Brigade in 1997 and his Barrett sniper rifle was captured by British forces. He is said to have caused the death of 7 British soldiers and 2 police officers.
Are there still Barratt rifles out there ? ... there certainly is at least one very proficient marksman / sniper out there.
Many questions ... few answers so far.
Saturday, March 14, 2009
Friday, March 13, 2009
IDF Chief in Washington - combined chat on bombing Iran and a little heavyweight shopping for military equipent
Whatever the state of (apparent) rapprochement between Syria / US the constant interchange between the IDF and the US Armed forces and suppliers of US military equipment go on - seemingly unstoppable.
This weekend IDF Chief of General Staff Lt.-Gen. Gabi Ashkenazi will make his 2nd visit (5 days scheduled) to the US along with accompanied by IDF Spokesman Brig.-Gen. Avi Benayahu and Israel's Military Attache in Washington Maj.-Gen. Benny Gantz will be in Washington to meet National Security Adviser Gen. James Jones, a meeting Israeli officials said was of extreme importance due to the important role Jones plays in the Obama administration as far as setting policy vis á vis Israel and the Palestinians.
Ashkenazi will also hold intelligence consultations and meet Dennis Ross, who was recently appointed a "special adviser" to Secretary of State Hillary Clinton on Iran and looks after the varied interests of AIPAC of which he was a joint founder.Haartez says he will meet the heads of AIPAC.
Chairman of the Joint Chiefs of Staff Adm. Mike Mullen is off fishing in Wyoming for the weekend and during Ashkenazi's visit. Instead, the IDF chief will meet with top Navy, Air Force and Army commanders.
He will also be a guest of honor at the annual "Supporters of the IDF" convention in the New-York and will address its participants.
Lt. Gen Ashkenazi is also scheduled to conduct meetings with the staff of the Permanent Mission of Israel to the United Nations in New York, war criminal Mr. Henry Kissinger, former Secretary of State as well as with the heads of the New York Jewish Federation country’s largest Jewish federation. ( They have just announced cutting 52 employees -- slightly more than 11 % of their staff.The layoffs, along with the decision to eliminate 20 staff positions that are now unfilled and other administrative cuts will save the federation an estimated $7.4 million)
1. The alleged Iranian nuclear threat. Earlier this week, Military Intelligence head Maj.-Gen. Amos Yadlin told the cabinet that Iran had crossed the technological threshold needed to develop a nuclear weapon.
Last week, Mullen said in an interview that Iran had obtained enough fissionable material to develop a single weapon - which raised a smile no doubt in Iran. Memories too of the wild, unreal and dishonest claims we now see were falsified by the JIC about Saddam's weapons by the A Cambell lying machine (prop T Blair , Vice President Mr J Powell) . Keep the steady beat for those drums of war Mike !
2. Israel's request to insert indigenous technology in the Joint Strike Fighter (JSF now officially Lightning II) that the IAF intends to purchase (be given) in the coming year. The Pentagon has so far rejected a request to allow Israel to install its self-developed electronic warfare and radar systems.
Schizoid Gubment buying toxic debts with one hand and trying to flog / insure toxic debt with the other
One could be forgiven for thinking that theUK Government is not only confused but alarmingly schizoid - one bit is busily buying up toxic banks, toxic debts, with borrered money, mortages on the future tax payments of at least 2 generations and their newly minted / invented quasi money... or even going into the busiess of insuring bad debts.
A Parliamnetary Question yesterday laid bare the inconsistency of approach - lest we forget ur Local MP asked a very, very pertinent question. Evidently the student loan book is very, very toxic (no surpise there then !) and no-one will touch it your barge pole never mind theirs.
The Government still intend to make sales from the student loan book, but it is clear that that should be done only when we can get a good return for the taxpayer. For the time being, the market conditions do not allow that, but we will actively look to identify opportunities for a sale that represents value for money as market conditions improve.
How big is the Student Loan Book ?
Good Question , the Guradian in a report 6th November 2007 when Lord Triesman announced the sale
The student loan book is worth around £18.1bn and is expected to increase in value to £55bn over the next 10 years.
Mr Lammy was asked about this 12 Jan 2009 : Column 65W Hansard Mr. Hayes: To ask the Secretary of State for Innovation, Universities and Skills what the monetary value of the last three valuations of the student loans book were. 
Mr. Lammy: The student loan book valuation for 31 March 2008 and 31 March 2007 is disclosed in the resource accounts of the Department for Innovation, Universities and Skills. (this is on line at http://www.official-documents.gov.uk/document/hc0708/hc08/0864/0864.asp but is unreadable / unopenable / cannot be de-crypted ) Prior to this, the student loan book valuation was disclosed in the resource accounts of the Department for Education and Skills.
More details on the valuation methodology for the student loan book can be found in note 21 of the resource accounts of the Department for Innovation, Universities and Skills.(Ditto valuation for accessibility)
So what the Student Loan Book is worth is anyone's guess (our is a nominal £25 Bn. ) and Mr Lammy is not anxious to give it the oxygen of publicity - nor does anyone seem to want to buy this premier loan book .. perhaps he should pop round to see Mervyn at the BOE they seem to be on a spending spree.
Thursday, March 12, 2009
The Mystery of Cyprus registered "Monchegorsk" - Iran / Syrian arms supplies / embargo / UN and Bill Rammell doesn't want to know about Israeli arms
Fun loving, conference hopping, Bill Rammell called to invite us to a London conference on prevention of arms smuggling to armed groups in Gaza, tommorrow 13th March run by his FCO chums (from Canada, Denmark, France, Germany, Italy, the Netherlands, Norway and the USA.) at Lancaster House on Friday 13th March.
This, he reminds us is a follow up to the 5th February Copenhagen conference, when " participants agreed to explore and develop effective measures together with regional partners, such as enhancing information sharing, strengthening diplomatic co-operation, and reviewing international authorities and mechanisms."
In is inimitable style he readout what he is going to say ...." This is part and parcel of the elements needed to underpin a durable and sustainable ceasefire. We are also working hard on the other elements needed, including the re-opening of the crossings into Gaza for all legitimate traffic, not only for humanitarian aid. Together with the £50m we pledged at the Sharm el-Sheikh conference on reconstruction and our ongoing efforts to ensure humanitarian access, this demonstrates the UK's strong commitment to the region."
Mystery ship Monchegorsk at Limassol
Which coincides with the curious case of the mystery ship Monchegorsk registered in Cyprus which now lies off Limassol having been unloaded in mid February.
The Odyssey of this ship allegedly lies in Iran and came to light in February. On Tuesday Japan's U.N. Ambassador Yukio Takasu, chairman of the Iran sanctions committee, told the U.N. Security Council in an open discussion February 3rd 2009 the Committee received a letter from a member state (Cyprus) seeking guidance with respect to its inspections of cargo on a vessel carrying its flag that was found to be carrying arms related material and had been leased by an Iranian government shipping company .Guradian Reuters
A U.S. official is quoted in the Wall Street Journal relating that the incident occurred Jan. 19th and 20th, when the Cypriot-flagged Monchegorsk, which started it's journey in Iran, claimd to be bound for Syria, was boarded in the Red Sea by the USS San Antonio. The ship was ordered to port in Cyprus, where authorities there found 1,980 wooden cases of powder for 130mm guns and 1,320 cases of powder and powder pellets for 125mm guns, according to a Cypriot government report.
"The Committee responded to this letter on 6 February (asking for a response within 10 days ) stating that the transfer of the material in question constituted a violation of paragraph five of resolution 1747 (2007)", which prohibits export of weapons from Iran.
The report refers to a second letter from Cyprus, dated February 12, which gave more details about the issue. A reply was given to that letter on February 24.the shipment of conventional weaponry constituted a "violation" of Security Council resolution 1737, passed in 2006 to put pressure on Iran to suspend its nuclear enrichment program. According to the letters published Islamic Republic of Iran Shipping Line, that the cargo was loaded in Bandar Abbas, Iran, and that it was to be unloaded in Lataki, Syria.
The Cypriot government unloaded the vessel and has stored the arms in Government / Army warehouses. Three of the 98 containers onboard were too heavy to move and still haven't been searched.
Whilst Washington and Tel Aviv are worried Washington because the U.S. and Israel have long maintained that Iran and Syria supply Hezbollah militants in Lebanon and Hamas in Gaza with armaments they have been remarkably low key in handling the shipment in public.
Hence very little Press coverage until Yukio Takasu, chairman of the Iran sanctions committee decided to go public on Tuesday.
Very little reaction as well - The British have offered Cyprus to help dispose of the cargo when the time comes and the French U.N. Ambassador Jean-Maurice Ripert expressed concern because the shipment of “explosives and … arms” violated sanctions imposed after Iran refused to suspend uranium enrichment.
Israeli arms sources
Anyway we explained to Bill that we could help with arms exports to Israel that they used in Gaza - Bunker busting bombs signed off by Condi Rice, standard issue F 16's with all their bits and pieces, Phosphorous anti personnel wapons courtesy of the US. Various bits and pieces from several Uk suppliers.
When we got on to supplying nuclear technology from the UK / France etc ., so that Israel has nuclear weapons - and hasn't signed up for the Nuclear proliferation treaty the line crackledand went dead.
UPDATE : FRIDAY 13th March
1 In interview with Emirate's Al-Khaleej daily Syrian President Bashar al-Assad says that Damascus has re-built the al-Kibar site which Israeli warplanes bombed two years ago.
He did not elaborate what the new construction was at al-Kibar. Some reports talk of a missile site.
2. Two senior U.S. diplomats met top officials in Damascus on Saturday. This is the first fac / face meeting since the Bush administration pulled the U.S. ambassador out of Damascus in 2005 after the assassination of former Lebanese Prime Minister Rafik Hariri.
The visitors were named as Jeffrey Feltman, acting assistant secretary of State for Near Eastern affair and and National Security Council official Daniel Shapiro They first visited visited Beirut, said to be part of an effort to allay long-standing fears that Washington might sacrifice Lebanon to improve Syrian / US relations.
3 Saudi King Abdullah, Syrian President Bashar al-Assad, his ageing and threatened electoraly challenged Egyptian counterpart Hosni Mubarak and Kuwaiti Emir Sheikh Sabah al-ahmad al-Sabah, met in a 4 way Arab summit at Riyadh air base on Wednesday.
The meeting is seen as an attempt to thaw frosty relations between Syria on the one hand and Saudi Arabia and Egypt on the other.
Gordon or someone at the Cabinet Office has just sent a Press Release.
Cabinet Office (National)
(Cab Office) Working Together - Public Services On Your Side
The Government will today set out its vision for the future shape of public services, building on a decade of unprecedented investment and rising standards.
There follows a list of previusly announced things on which the Government is spending our money on ....
* Across government delivering £35bn of value for money savings, equivalent to £1,400 per household that will be allocated to front line services and further savings to come in 2009 Budget.
Notes to editors
The document Working Together - Public Services On Your Side can be viewed at http://www.hmg.gov.uk/
Cabinet Office Press Office 22 Whitehall LONDON SW1A 2WH
Tel: 020 7276 2533
" ....delivering £35bn of value for money savings, equivalent to £1,400 per household ".
Well they have been delivering savings of £35N (that's about 10% of Central Government Expenditure) for years so they should be spending nothing by now.
Setting the Agenda for the tame lickspittle press ? Diverting attention from the Armageddon of Global Financial Meltdown ?
No. Apparently we should be rejoicing because one of these great cost savings is "Giving Jobcentre Plus advisers greater discretion to personalise support, benefiting up to 80,000 jobseekers." There are of course 3 Mn Jobseekers at the moment .. and rising.
Economic gloom descends on town
by Pete Bainbridge Macclesfield Express March 11, 2009
"FURTHER economic gloom has descended on Macclesfield as new figures reveal the highest number of jobseekers in a decade coupled with a huge leap in home repossessions." read on
...... "Melanie, who wants to be a countryside ranger, said: "There used to be a job club in Macclesfield where they would help you with CVs and help you apply for jobs, but it’s not there anymore. I think it lost funding."
Wednesday, March 11, 2009
Air Force Link reports that yesterday In total, 76 close-air-support missions were flown in support of the ISAF and Afghan security forces, reconstruction activities and route patrols.
In Iraq, coalition aircraft flew 25 close-air-support missions for Operation Iraqi Freedom. 29 Air Force and Navy ISR aircraft flew missions as part of operations in Iraq. In addition, three coalition and Air Force aircraft performed tactical reconnaissance.
In Afghanistan, an Air Force MQ-9A Reaper used Hellfire missiles to target a group of anti-Afghan gunmen operating an illegal checkpoint near Kandahar.(indicating reprts arecorrect that Taliban forces are closing ) The group was spotted by a coalition ground unit in the area, who coordinated with the drone operator to ensure civilians were not in danger when the airstrike occurred.
In the vicinity of Malek Din, an Air Force A-10 Thunderbolt II preemptively flew a show of force in the route of a coalition convoy, expending flares. The maneuver was intended to discourage enemy action while the convoy passed a point where enemy forces historically set up ambushes.
An Air Force F-15E Strike Eagle hit a group of anti-Afghan forces in an open field with a guided bomb unit-12 after an engagement between the enemy personnel and coalition ground units. The individuals had been firing their assault rifles at coalition soldiers which prompted the air response.
A Navy F/A-18F Super Hornet conducted a show of force and expended flares near Tarin Kowt for a friendly convoy under fire from enemy forces. The show of force caused the enemy to stop firing and retreat from the area. The convoy completed its mission successfully.
Meanwhile on the ground Seven Afghan soldiers were killed in an IED attack in Khost province. Four civilians were killed and six were wounded in an IED attack in Helmand province. Afghan and British forces have launched an operation in the Aaabi Toorah, Kanishin area of Helmand province according to NATO/ ISAF.
After being inserted into the Kanishin area by helicopter, Afghan troops, supported by the British 42 Commando Group, encountered a series of enemy-held compounds. The ANSF and ISAF combined efforts, including precisely targeted air support from helicopters, resulted in the insurgents’ defeat. Searches of the secured compounds uncovered weapons and suicide Improvised Explosive Device (IED) vests.
Tuesday, March 10, 2009
Click here for actual Earth link.
Eton educated Stuart Wheeler made his fortune as the founder of IG Index in 1974.Whe he sold out he spent £7.3m, windfall from the sale of his third tranche of shares in IG Group, on buying the Grade I listed Jacobean Chilham Castle, in Kent fom John Whyte - Melville - Skeffington, 13th Viscount Massereene (Grenadier Guards) and is President of the Conservative Monday Club.
Stuart Wheeler gave the Conservative Party £5 Mn. the largest political donation ever to a British political party.
UK Government and SFO quietly let slip Kenyan crooks, offshore bank / tax havens with a scribbled note in the House of Lords
Yesterday Baroness Northover(Liberal Democrats Spokesperson on International Development in the House of Lords) received a written answer from The Attorney-General (Baroness Scotland of Asthal) to the question she raised further to the Written Answer by the Solicitor General, Vera Baird, on 11th February (Official Report, House of Commons, col. 1990W), why the investigation into Anglo Leasing was terminated in January 2009. [HL1591]See BBC report
The glass twiddling, scarf adjusting smug lawyer lost the opportunity to look smug,to twiddle and adjust and provided a terse (and unhelpful) written answer:
The director of the Serious Fraud Office exercised his discretion to terminate the investigation because there was no reasonable prospect of a conviction without evidence being obtained from Kenya.A detailed and fiull report on thism ulti million pound scandal (with associated scams in total some US$250mn) can be read at Wiki
If evidence is received from Kenya in the future, the director will consider reopening the investigation.
Briefly in 2002, Sophisticated passport equipment system was sourced from France and forensic science laboratories for the police were sourced from Britain. The transaction was originally quoted at 6 million euros from a French firm, but was awarded to a British firm, Anglo Leasing Finance, at 30 million euros, who would have sub-contracted the same French firm to do the work.
The tender was not publicly advertised, and its details were leaked to the media by a junior civil servant. The Anglo-Leasing sales agent was Sudha Ruparell, a 48 year old woman who is the daughter of Chamanlal Kamani and sister of Rashmikant Chamanlal Kamani & Deepak Kamani. The Kamani family has been involved in various security supplies scandals in the past.
United Kingdom's Serious Fraud Office began to examine Anglo Leasing's affairs in July 2007 especially relating to offshore accounts in the British tax havens of Jersey and Guernsey, which were used to transfer more than $30m to a company called Apex Finance between April 2002 and February 2004.
Although the firm was not registered in Britain, the original contract was signed by a UK accountant, Colin Flynn, and gave an address in an elegant Victorian house near Liverpool city centre. This, it transpired, was the offices of a small property company, Saagar Associates. Saagar claimed it was simply acting as UK agent for Anglo Leasing which was based in Switzerland.
Saagar's owner was Mrs Ruparell sister of Deepak Kamani who at the time lived in Barnet London.
Mr Flynn, a father of three who lives in a modest semi-detached house in the suburb of West Derby in Liverpool, has declined to comment.
Another fascinating UK company is LBA Systems of Fife and Daventry, which specialises in body armour and has been owned and run by Andrew Macgill since 1975. LBA has two contracts with Kenya for the supply of four M17 helicopters to the police and a communications system to the prison department. The Guardian discovered that in September 1994 Mr Macgill married a Russian woman, Ludmila Kalushenko. Her maiden name appeared on the Anglo Leasing CID contract in 2001.
So this is how HMG - anxious developers of the third world accordingto Gormless Gordon quietly bury funds that have been stolen from Kenyan citizens with the aid of UK entities and citizens usingof shore accounts (and ank accounts) - absolves itself from any responsibility.
Guradian today .. "Gordon Brown yesterday promised that Britain would keep its pledge to raise its overseas development aid budget to an internationally agreed target of 0.7% of national income in spite of the growing budget deficit."
Monday, March 09, 2009
No Nimrods in use in Afghanistan - less on Home Defence and the rest in for urgent repairs - MOD business as usual
The examining board were able to identify the most probable location of the fire, a number of probable causes of that event and factors which possibly contributed to it:
a. The escape of fuel during AAR, occasioned by an overflow from No 1 tank, or a leak from the fuel system (fuel coupling or pipe), led to an accumulation of fuel within the No 7 tank dry bay. Although of a lower probability, the fuel leak could have been caused by a hot air leak damaging fuel system seals.
b. The ignition of that fuel following contact with an exposed element of the aircraft's crossfeed/ SCP pipe work.
a. The age of the Nimrod MR2's non-structural system components.
b. Nimrod MR2 maintenance policy in relation to fuel and hot air systems.
c. The lack of a fire detection and suppression system within the No 7 tank dry bay.
d. The fact that hazard analysis did not correctly categorize the potential threat to the aircraft caused by the collocation of fuel and hot air system components within the No 7 tank dry bay.
e. The formal incorporation of AAR capability within the Nimrod did not identify the full implications of successive changes to the fuel system and associated procedures.
a. The loss of flying controls through fire damage to the hydraulic systems or cables and pulleys.
All Overseas based Nmirods withdrawn
In a written statement to the House of Commons today , Defence Minister Bob Ainsworth says overseas basd Nimrods , will be withdrawn on 31st March in order to replace engine bay hot air ducts.
The coroner at the inquest on the crew called for the entire fleet to be grounded. see post Friday, May 23, 2008 Coroner grounds entire RAF Nimrod Fleet Des Browne another Scots politician , part time Defence Minister ready for a lonely walk in the countryside ?
At the inquest last May, coroner Andrew Walker said the aircraft had "never been airworthy," but Defence Secretary Des Browne insisted they were safe to fly. but then he didn't fly in them
Shadow defence secretary Dr Liam Fox said;
"It beggars belief that even after 18 months, the MoD and its contractors have failed to modify these aircraft which are undertaking critical surveillance operations in Afghanistan," he said.The MOD blithely states that the reallocation of engineering staff from RAF Kinloss the Nimrods' home base to RAF Waddington in Lincolnshire "will cause a temporary reduction in routine UK-based Nimrod flying but will not affect our ability to protect UK interests at home," he added.(please don't let Mr Putin know that)
"It is a further example of the complete inability of this government to get a grip on their defence procurement programme."
The MoD said there would be no operational impact in Afghanistan because they plan to use other UK and coalition aircraft to cover any shortfall... without explaining why this couldnot be done previously.
If you have the stomach ... Reid sends ill equipped troops to certain deaths in S Afghanistan on Friday, January 27, 2006.
Sunday, March 08, 2009
Real IRA claim responsibility for drive-by executions of two British soldiers and promise wave of new attacks
IRA has not gone away, Adams warns ministers Independent -August 14th 1995
"Speaking at a large republican rally in Belfast city centre, Mr Adams accused the Government of intransigence and of strangling the opportunity for peace, a man called out: "Bring back the IRA." Mr Adams was applauded when he responded: "They haven't gone away, you know."
Quinn murder shows IRA has not gone away Belfast Newsletter 02 November 2007
The Collins, Donaldson, McCartney and Quinn (see post Paul Quinn, IRA fuel smuggler, murdered by IRA - DUP assist in cover up and Westminster remains silent.Business as usual in Northern Ireland ) cases highlight the fact that the IRA has not gone away and if the IRA did not authorise the murders they are aware of who the murderers are, or could it be a case of collusion between IRA activists and criminals.
There is an uncontrollable element within the Republican family that needs to be removed from society by the law of the land. If Sinn Fein is serious about peace, justice and truth let us see these four families receive justice, let us see the murderers behind bars for life and if they are IRA members out on licence let us see Sinn Fein actively support tough sentences including completion of original sentences for these thugs.
Letter from Councillor Ross M Hussey
Northern Ireland(and to some extent Eire) is still in the grip of gangsters whose roots lie in their sectarian communities, well armedwith the remnants of their massive armouries, funded by drugs, prostitution, protection and crime.
The Conservative's Shadow Security Minister Dame Lady Jane Baroness Neville Jones ("Out Pauline") has been missing in the House - she was in sunny Jakarta delivering an excellent speech in the swanky Ritz Hotel , to the World Islamic Economic Forum,1,557 people, including 1,395 delegates, 85 speakers and 70 heads of state from 38 countries were present. The theme was "Food and Energy Security and Stemming the Tide of Global Financial Crisis"
Her JIC analysis of the effects of the current banking / financial / insurance / comodity crisis can be found at Conservative Home. eg and is well worth reading. Text
We could see a reversal of progress on international poverty: “According to the World Bank, from 1981 to 2001, the number of people living on less than $1 a day went down from 1.5 billion to 1 billion. Improvements in global literacy went hand-in-hand with this. This favourable trend could now go into reverse. Just one indicator of what is at stake.”
Private capital flows to emerging economies are set to collapse: “In 2007, net private capital flows to emerging economies were $898 billion… The Institute of International Finance estimates that net private capital flows to emerging and developing countries will be just $165 billion in 2009 – a decline of 82 per cent from 2007.”
Read this along with The Indepedent story yesterday 'Run on UK' sees foreign investors pull $1 trillion out of the City
A silent $1 trillion "Run on Britain" by foreign investors was revealed yesterday in the latest statistical releases from the Bank of England. The external liabilities of banks operating in the UK – that is monies held in the UK on behalf of foreign investors – fell by $1 trillion (£700bn) between the spring and the end of 2008, representing a huge loss of funds and of confidence in the City of London.
Some more headings .
Some $597.5bn was lost to the banks in the last quarter of last year alone, after a modest positive inflow in the summer, but a massive $682.5bn haemorrhaged in the second quarter of 2008 – a record. About 15 per cent of the monies held by foreigners in the UK were withdrawn over the period, leaving about $6 trillion. This is by far the largest withdrawal of foreign funds from the UK in recent decades – about 10 times what might flow out during a "normal" quarter.
The early stages of the world recession have already caused low level political instability:
One third of the world’s nations may struggle to cope with the economic challenge:
Under-pressure governments may become repressive and protectionist:
Extremists and terrorists may exploit the economic downturn:
The importance of increasing food supply in the years ahead: Food prices are likely to be driven up by autarky.” In response PNJ suggests reform of the Common Agricultural Policy, a greater proportion of aid spending to be devoted to food security and, possibly, “a more internationally organized system of storage for certain basic food stuffs.”
In the speech Dame Lady Jane warns against cartelisation of the energy market and against protectionism. She says that the G20 may now be a more appropriately diverse group of nations to manage the scale of international economic challenges we face:
“My protected market is your closed factory and angry workforce… Maintaining the open system – requires possibly unpopular decisions about keeping markets open and thus putting some local jobs at risk and is a much bigger immediate challenge to political leaderships."