Euro: What is the secret of survival is high?

See Kenneth Rogoff, professor of economics at Harvard University to understand theexchange rate in general is not easy, but keep its value relatively high euro, remains vague and elusive.

Rogoff and wondering if it was due to the confidence of what he calls the "demons" in thecurrency markets that the plan to save the single currency reached by the leaders of the Governments of the euro will endure for more than a few months.

And adopt the new deal on the "mix" of financial scams suspicious and vague promisesfrom Asian countries to contribute to the financing of the plan and even the most important part of the deal (which proposes a waiver creditors 50% of the debts owed ​​to Athens) is not sufficient to restore stability to Greece engulfed in a sea of ​​debt will give life to its economy.

And the secret of the continued rise of the euro against the dollar at a time when doubtsare growing investors in the future debts of the South European continent Rogoff says that he has a good reason one should justify the fall of the euro and the six other reasons do not explain the relevance of which remains stable or upward.

The collapse of the euro
Rogov believes that the European Monetary System (ie the euro) incomplete growth seems increasingly unable to continue in its current form, in the absence of a clear path tothe establishment of the Federation of Mali, a strong political, which would not occur untilconstitutional changes.

It seems that the ECB will find itself forced to buy very large amounts of debt securities(WEEE) for the euro countries. Such a move may be useful in the short term, but if the specter of bankruptcy of some euro countries a reality (which nominated it occurred in theprevious paper), the European Central Bank itself will find itself in need of funding.

If the North has been the most powerful European countries is not ready to accept thistrend and increased the pace of the "resistance" in which the political, the European Central Bank finds itself forced to refinance itself by printing money, and in both cases, therisk remains high, the financial crisis deepens.

The secret of the height
Rogoff explains Alaratf current euros constantly in the Nordic countries to provide assistance to their counterparts in the south as well as the likelihood of continued foreign central banks and sovereign wealth funds to continue to buy the euro to hedge against any risks linked to the dollar and their economies.

The investors in the end, convinced that the risks the U.S. equivalent in size to the European risk. This is true, the U.S. political system seems unable to progress with a plan to achieve stability in the budget deficit over the medium term.

The other factor, according to Rogoff, behind the euro is to the fact that the current value of the euro does not look very abnormal as measured by purchasing power to him.

But Rogoff acknowledges that the comprehensive reform of the euro was inevitable for a country or countries and in what time, but not all the States and soon, he said, adding that it is not possible to bet on the stability of the euro against the dollar in the coming year.
 
 
Source: Project Syndicate

Resignation of the President or FM Global bankrupt

Jon Corzine announced that President and Chief Executive Officer of MF Global brokerage Friday that he resigned from the company that declared bankruptcy before the days affected by the debt crisis in the euro area, to be the first U.S. company to fall victim to the crisis in question.


The announcement of the company's bankruptcy as a result of loss as it carries sovereign bonds European $ 6.3 billion dollars, belonging to the Governments of Belgium, Ireland, Italy, Portugal and Spain, and reduced the major credit rating agencies rating the company in the last period to the worst degree as a result of their exposure to the debt crisis of Europe.


He said Corzine (64 years) that he took the difficult decision to resign, but "his own free will which is in favor of the company and its shareholders," and added that it would continue its support for the company and its board of directors in their efforts to answer the questions investigators on file for bankruptcy, and with respect to development of the company's assets.


The outgoing president had managed Goldman Sachs between 1994 and 1999 and was elected to the U.S. Senate for New Jersey governor and her later, he joined MF Global listed on Wall Street Stock Exchange in March / March 2010.


Multiple investigations
The institutions of American control over the financial sector to achieve an expanded about the activities of MF Global, where the investigation seeks to determine the fate of missing funds from the accounts of customers of the company are estimated at more than $ 600 million.


The bankruptcy of the company's seventh largest bankruptcy in U.S. history, according to Reuters, and raised questions about whether or FM Global has violated one of the basic rules for the work of brokerage firms, a separation of money from funds of its clients, prompting the Bureau of Investigation, the U.S., as well as supervisory authorities to investigate the files of the company.


Will discuss the investigators that the company, which apply to the judiciary to protect their assets from creditors, may have violated criminal laws, as quoted by The Associated Press for exporters close the file, The New York Post that the Attorney General in New York City to achieve its role in the case.


 Source: Agencies

Ongoing arrests of protesters, "Wall Street"

Demonstrators "occupied the Wall Street" fear the continued repression of the security (Reuters - Archive)

U.S. police arrested 53 people from the movement of protesters "occupied the Wall Street" during the years in the park evacuated the city of Atlanta, Georgia, United States Wednesday, the day after the storm the protest camp in the city of Oakland, California, and the arrest of 85 people.
The fear many of the participants in these demonstrations of the police response after use of violence several times in the right of peaceful protests, according to participants.
In the state of California contributes to scene security enhancements in Auckland, tension in the movement of protesters "occupied the Wall Street" who regarded these actions are not justified and could lead to the use of violence against the protesters as happened in the last month, where one protester was wounded seriously wounded.
And the face of officials in the cities where these protest movements, messages of the demonstrators in the camps, urging them to respect the laws and not to damage public property or the interests of the population, the demands of the protesters said their response to it.
The movement was "occupied the Wall Street" has inspired its name from the Street Business and famous in New York, where I started there first protests on September 17 / September last, to condemn what is described greedily major corporations and the concentration of money in limited categories, but soon she protests that expanded to include states and American cities and the capitals of Western and world including London, Tokyo, Ottawa and Sydney.

Source: Associated Press

Rare books library Islamic Israel

In the library Mus writing dates back to the pre-1200 years, written in Kufic script, decorated with carvings and Islamic inlaid with pure gold, and there are also personal Koran to the Sultan Selim I printed in Persia 600 years ago, and it concluded by the Sultan himself.

The library is also a rare book combines three letters of the mark "Ibn Taymiyyah" line one of his disciples, in addition to the value of books in Turkish and Persian.

There are within these anecdotes about alpha and 184 and a Koran and a book manuscript, collected in the history of a Jewish scholar named Abraham Halobrehma Islam after the collapse of the Ottoman Empire.

And stresses the responsible library called Rakhil Bochelis that this Koran belonged to the ninth century AD, describing her treasures, which reached Cairo after the collapse of the Islamic State, pointing out that Abraham bought some of them.

However, the head of Al-Aqsa Mosque manuscripts Bakirat successful, is likely to be the Koran, and references have been stolen from the Iraqi Museum, Baghdad Central, after falling in the hands of the U.S. occupation in 2003.

And confirms the specialists of the National Library contain a hundred thousand Israeli writers and two thousand manuscript, relating to Bensoh and history of Islam.

 
 Source: Al-Jazeera

Change the rules of the throne in Britain

Queen Elizabeth received speech at the Commonwealth summit in Perth (European)
Agreed Sixteen members of the Commonwealth on Friday in principle to cancel the old rules had prevented the female or married to Catholics ascend the throne of Britain.
He said British Prime Minister David Cameron at the opening of a summit in Perth, Australia for the Commonwealth Heads of Government (53 countries) in the presence of Britain's Queen Elizabeth II, there was no longer the meaning of those rules that were governing the throne of Britain.
Cameron added, "we decided to abandon the rule that prevents a married or married to a Catholic or a Catholic from the throne," pointing to a law that dates back to 1701. But will have to ascend the British throne to be a Protestant because he is head of the Anglican Church.
He said British Prime Minister, "but it is unfair to not be able to the king or the queen or the crown prince from marrying a Catholic or a Catholic, because he can or can already marry another religion."
It is noteworthy that the current Queen of England - which is the head of state in ten members of the six countries that have agreed to change the old rules - assumed the throne in 1953 because it was not her brother.
It has become the issue of reforming the rules governing the ownership of Britain's less marriage with Prince William (son of Princes Charles and Diana) in April / April.
And Prince William - who won and his wife Kate Medelton the title of the Duke and Duchess of Cambridge from the Queen - is the second in order to ascend the throne after his father Prince Charles, who is now the Crown Prince.
Is due to form an international group to oversee the reforms that have been agreed in principle at the top of Perth, to enter into force simultaneously in the six ten, including Australia, Canada, Jmaecha and New Zealand as well as countries in the Pacific and of course the United Kingdom.
Britain was conservative in the review of these rules for fear of promoting anti-monarchy movements, especially as opinion polls show a surge of the tendencies of the Republic in the countries members of the Commonwealth, including Canada and Australia.
In a speech at the summit, said Australian Prime Minister Julia Gillard that the Commonwealth must be renewed itself changing times.
For his part, Secretary General of the Commonwealth Kamalesh Sharma said the summit will examine the proposals include the formation of independent commission to monitor human rights situation in the Member States.

           
   Source: Agencies

100 thousand dollars to the families of Israeli soldier

Declared the Islamic preacher Sheikh Awad Al-Qarni for substantial financial reward of $ 100 thousand U.S. dollars to any Palestinians kidnapped an Israeli soldier, in response to financial reward announced by the Israeli family to anyone who killed a prisoner exchange deal editors in the latter.
The Al-Qarni yet on the social networking site (Facebook) that the media picked up news of the payment settlers Zionists reward great to anyone who killed a Palestinian prisoners freed, and display a response to that declaration, affirming his commitment to pay the reward to any Palestinian is inside Palestine capture of an Israeli military to commute by the Palestinian prisoners.
And received a reward-Qarni - a professor of jurisprudence and advocate of senior Saudi known for backing the Palestinian cause - very welcome on the part of activists, Facebook and Twitter, where he expressed commentators admire the announcement Qarni praised his positions in support of the Palestinian issue, is that a page-Qarni exposed to piracy which was deleted some comments on the inviting him to kidnap Israeli soldiers in Palestine.
The family of Afman living in one of the settlements in the West Bank has announced a cash prize of $ 100 thousand dollars to anyone who killed soldiers editors Khuwaylid and Nizar Ramadan, the Islamic Resistance Movement (Hamas) who were convicted of murder 13 years ago and Afman Shlomo Harel Ben-Nun.
And two brothers sentenced to life imprisonment, then released in a deal swapping Israeli soldier Gilad Shalit, the farther one to the Gaza Strip and the other to Turkey.
And published family Afman advertising in a website continued to extremist settlers in the West Bank, in Hebrew, Arabic and English in addition to Turkish, appear in the Declaration Two Two recent editors of the captive with a promise of a prize of 100 thousand dollars for Iktlhma.
The Palestinians celebrated Tuesday the completion of the first phase of the prisoner exchange deal between Hamas and Israel, which was the release of 477 prisoners and prisoner exchange for Shalit, that is implementing the second phase of the deal and released two months later which of 550 Palestinian prisoners.

 Source: Al Jazeera + Reuters

Reports of virus in the brains of Mubarak

Newspaper editor Egyptian medical sources that the former Egyptian President Hosni Mubarak is currently under medical follow-up intensive International Medical Center because of a virus in the brain, noting that it was called doctors from Germany and France three times in the past ten days to discuss his condition.
Mubarak and lying in the weeks since the International Medical Center, a hospital affiliated to the Egyptian army on the road between the capital city of Cairo and Ismailia, after being transferred from hospital in Sharm el-Sheikh, who remained faithful to the period.
And tried Mubarak issues spoiled, and killing of demonstrators Revolution January 25 that ousted him, but he was not subject to pretrial detention similar to what happened to his two sons, Alaa and Gamal and his interior minister, Habib el-Adli, where authorities considered appropriate that his health required to stay in the hospital.
The newspaper, citing unnamed sources, The case of Mubarak volatile and unstable, noting that the tests he underwent two days ago, emphasized the need to continue in use tranquilisers to treat his psychological state, in parallel with the drugs for the heart and the pressure and inflammation of the nerves, also the removal of the TV from his room not subjected to tension.
The other hand, newspaper pointed out that Mubarak received yesterday his lawyer Fred Deeb to talk about the issue of preventing him and his wife Susan fixed and two sons Alaa and Gamal and their spouses from disposing of their money, an issue considered by the Giza Criminal Court today decided to support the decision of a graft placement of these funds, whether liquid or movable.

             Source: Egyptian press

Gaddafi's killers will be tried

Rebels express their joy of killing Gaddafi (the island)
Transitional National Council declared Thursday that the killers of the late Colonel Muammar Gaddafi, the Libyan would be brought to trial, following the uproar raised by the circumstances of his death.
Abdul Hafeez Goukh Vice President of the Council in a press statement, "For Gaddafi, we do not wait to tell us what anyone should do."
"We started an investigation, and issued a charter of ethics in the treatment of prisoners of war, and I am sure that this was an act of an individual and not the work of the national army or the rebels." He continued that "any person responsible for this (killing Gaddafi) would be prosecuted and will get a fair trial."
The council declared that Gaddafi was buried before dawn on Tuesday in a secret location in Libya, and a number of relatives of Gaddafi walked arrived upon the presence of representatives from the local council and the military council of the city of Tripoli, after the advisory opinion of the Supreme Council for Fatwa endorsed Ghariani to deal with the body according to Islamic law.
Some observers attributed the briefing the burial place of Gaddafi's secret to the "careful - it seems - not to be a symbol of his grave."
It is noteworthy that Gaddafi - who ruled Libya for nearly 42 years - died last Thursday at the hands of the rebels Libyan city of Sirte, his hometown, who took him out of the tube exchange was hiding after an air strike to NATO, after a lapse of nearly eight months the start of the Libyan revolution in February 17 last year.
The photographs showed mobile phones Gaddafi alive at the time of his arrest.

Descriptive Gaddafi called to investigate the circumstances
Death of her husband (European - Archive)

Criticism of RussianHe criticized the Russian Prime Minister Vladimir Putin on Wednesday images "disgusting" by the killing Gaddafi broadcast by "international media". Putin said "most of the Gaddafi family members were killed, and his body was offered to all international channels, it is impossible to see these scenes without feeling disgusted. What is this?!".
"The image showed a man covered in blood and wounded is still alive and beaten to death. And offered all of this on the screens." He explained, "millions of people see these scenes, including the children, this is not moving pictures .. this is not a good thing."
He also criticized U.S. President Barack Obama broadcast scenes of the bloody end to the Libyan colonel late, saying that "even those who have done terrible things, they deserve reverence upon their death."
Claims to achieveAnd each of the High Commissioner for Human Rights at the United Nations and Amnesty International, "Amnesty" called for an investigation into the circumstances of the killing Gaddafi.
The Commission called last Friday to open a full investigation into the death of al-Gaddafi, and expressed concern that he may have been executed. He said UNHCR spokesman Rupert Colville said that there is much uncertainty about what actually happened, pointing out that there are four or five stories of how his death.
He added that the footage showing the arrest of Colonel Libyan alive then shown dead, and said, "We are not in a position to us to say what happened then, but we feel it is very important to clarify this, so there must be a serious investigation into what happened and the reasons for his death."
In response to a question whether the Office of the United Nations High Commissioner for Human Rights Navi Pillay is worried about the possibility of their execution of the Gaddafi During his captivity, Colville said that one of the possibilities when you see the footage and therefore is in need of an investigation.
He explained that the basic principles of international law calls for the trial of the defendants in serious crimes, if possible, and considered that the executions without trial is illegal under any circumstance.
For its part, Amnesty International, "Amnesty International" last Thursday to open an independent investigation into the circumstances of the death of al-Gaddafi, and urged the Transitional National Assembly to end the "culture of abuse."
The organization called on human rights in a statement issued from London Transitional Council to publish the facts of the death of Gaddafi after "an independent and objective," the statement said those facts should be made to the Libyan people.
In turn, the widow of Gaddafi called descriptive investigation of the circumstances of his death after he was arrested by the Libyan fighters Transitional Council, as quoted by Al Rai pro-regime ousted.
The widow said Gaddafi, according to the channel quoted her as "my husband proud valiantly struggling Muammar Gaddafi and the children who stood up to aggression forty countries and its customers over the past six months, and when God Ahsabhm with the martyrs and the saints."

Source: Al Jazeera and agencies