Sep
24
A Cascading Recovery
Posted by: Paul Dhaliwal | September 24, 2011 | Leave a Comment
In a manner eerily similar to the days after the crash of Lehman Brothers, the Dow Jones Industrial average fell 6.4% this past week; the steepest fall since October of 2008. As the severity of the European debt crisis grows, the Brazilian and Chinese governments have strongly advised the E.U that it must take stronger steps to prevent the “threat of cascading default, bank runs and catastrophic risk,” if countries such as Greece, Portugal and Ireland are forced to default.
Indeed the economic crisis in Europe is underlined by a weakened global economy, especially in the United States, compounded by an apparent lack of confidence in fiscal policy actions in developed nations. Regardless, the IMF and E.U must agree upon a large scale bailout plan with Greece, perhaps one that will swap Greece’s existing debt with longer term debt that has a lower interest rate attached to it. Such a move would be advisable as it is imperative that the faltering economies of Europe experience a recovery, before their economic downturn spreads to nations such as Spain and Italy.
Stock Quotes in Red- Courtesy of the Daily Mind
Hopes of a speedy global economic recovery are perhaps best answered by the words of the Indian prime minister “In many respects the crisis has deepened even further.”
Sep
14
Ethics of Diplomacy
Posted by: Paul Dhaliwal | September 14, 2011 | 1 Comment
The other day Israel warned of “harsh and grave consequences,” if the Palestinian bid for UN membership was accepted. In response to this statement, a delegation of diplomats from the U.S and European Union have traveled to the region to hold negotiations ahead of the bid with the Palestinian leader Mahmoud Abbas on Wednesday.
Analysts have also stated that the European Union may experience a split in political stance over the issue, due to trade relations with the oil producing Arab nations.
The ethical issue in this situation lays simply in the fact that it is a fundamental right of human beings to be represented in the General Assembly of the United Nations, as was stated in the original U.N charter. Israel’s actions were not meant to be a blow against the foundations of the U.N charter, but find their roots in the 70 year old Arab-Israeli conflict. Israel has taken this stance against the bid to deny the Palestinian government legitimacy, the rise of a rival economy, and permanent control of the West Bank going to Palestine.
Therefore what started as a political issue, has become an ethical issue, with Israel denying human beings their rights.
http://www.bbc.co.uk/news/world-middle-east-14924778
Sep
13
Hello world!
Posted by: Paul Dhaliwal | September 13, 2011 | 1 Comment
Welcome to UBC Blogs. This is your first post. Edit or delete it, then start blogging!
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