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Putting burden on debtors will push EU into depression-Germany should lead or leave
Imposing austerity and the burden of adjustment on the debtor countries could push Europe into a prolonged depression, Germany needs to embrace its leadership role in Europe or leave the euro, veteran investor George Soros tells
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Joining EU, Croatia aims for historic unification
A centuries-old land deal has come back to haunt Croatia as it prepares to join the European Union, starkly illustrating the complexities the EU will import by expanding to the countries that once made up Yugoslavia.
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Taking on the ?toga-wearing bandits? in Brazil
Eliana Calmon's florid criticism of judges as "bandits who hide behind their togas" has unleashed a wave of transparency and reform in Brazil's courts, many of which have behaved like private fiefdoms, mistrusted by Brazilians and foreign investors
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Japan energy mix plan may incite further conflict
As Japan's government looks to craft a post-Fukushima energy mix that will respond to growing anti-nuclear sentiment among voters without alienating powerful pro-atomic energy interests, it may be in danger of further angering both sides.
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Speculating Banks Profit as World?s Poorest Go Hungry
Reports over the weekend saw some of the world's most powerful financial institutions accused of profiteering on the backs of the world's poorest people and those most vulnerable to the wild price fluctuations caused by over-rampant speculation on the price of food commodities like wheat, soy beans, and corn. Nearly a billion people are already too poor to feed themselves, so any long-term food spike is guaranteed to trap millions more who are now just ?getting by,? says Oxfam. "Barclays is the UK bank with the greatest involvement in food commodity trading and is one of the three biggest global players, along with the US banking giants Goldman Sachs and Morgan Stanley," reported the UK's Independent, citing research from the World Development Movement. Christine Haigh, policy and campaigns officer at the WDM and one of the analysts behind the research, said the behavior of the banks "risks fuelling a speculative bubble and contributing to hunger and poverty for millions of the world's poorest people." As droughts have devastated grain crops in major agricultural strongholds like the US and India this year, experts warn of a food crisis taking shape across the globe. The accusations of 'profiteering' by groups like WDM and Oxfam International, however, transcend the price changes due to external conditions like drought or farmers who use commodity indexes to protect the price of their crops, and speak to the greed and recklessness of investors who create volatile trading conditions by speculating on the future prices of such commodities with no regard for the harm it does to real people.
Source: http://oraia.co.uk/?p=24798
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