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China yesterday decided to cut its interest rate by 0.5% – in line with the cuts by six leading central banks. This is the second cut in less than one month, confirming the government’s support of economic growth, even at the risk of further inflation. While the decision makes good sense, it carries a political… » read more

Posted by Stanley Crossick

Yesterday’s decision, announced simultaneously by six important central banks (including the ECB, US Fed and Bank of England), to lower their interest rates by 0.5%, was a welcome and indeed historic exercise in international cooperation. Long may the cooperation last! Despite a number of bold steps by national governments to increase liquidity in the banking… » read more

Posted by Stanley Crossick

The potential ramifications of the Chinese food safety scandal over melamine contaminated milk products are deeply worrying, because they touch upon trust between the Chinese authorities and the European Union and third countries, as well as upon external perceptions of the China-specific characteristics of the national economy. That developing countries have such problems is understandable… » read more

Posted by Stanley Crossick

200TH POST

Just under one year ago, I began an unknown journey and became a blogger. This, to my astonishment, is my 200th post. I’ve thoroughly enjoyed myself. But have you enjoyed reading them? I would value all criticisms and suggestions.

Posted by Stanley Crossick

The European Union’s leadership role in climate change in the light of the financial and potential economic meltdown will have to adjust to changed circumstances. One action that can be taken is to regard collective energy security as a priority. This week’s Charlemagne column in The Economist contends that the east Europeans will not accept… » read more

Posted by Stanley Crossick

Solidarité

Maybe I’m old-fashioned but I still believe that a key quality of the European Union was ‘solidarité’ (a better word in French than English). With the ‘dog-eat-dog’ behaviour of the financial sector, was it too much to hope that EU leaders would set a good example? The market would have so much more confidence if… » read more

Posted by Stanley Crossick

I asked a young French official at the Commission, a socialist, whose views I value, his reactions to my post of 4 October on Financial meltdown post-Congress. Here is his response: – I’m torn between radicalism (the system is rotten, let it die) and cynical pragmatism (that’s capitalism, you can try to tame it, you… » read more

Posted by Stanley Crossick

That inveterate diplomat, Hans Blix, said during an European Policy Centre debate with Ambassador Ali Asghar Soltanieh on “Iran and non-proliferation” that the worst a diplomat can inflict on another country is humiliation. Humiliation is precisely what Western policy has inflicted on China (18-20th centuries), Iran (20th & 21st centuries), Russia (since 1989) and the… » read more

Posted by Stanley Crossick

Iran: what can be done now?

In May 2003, the Iranian Foreign Ministry, with the approval of the leadership, sent to the United States through the Swiss embassy in Tehran, a proposal for the settlement of all outstanding problems. The Ministry asked in return for “full access to peaceful nuclear technology”, accepting tight IAEA conditions. The proposal also held out the… » read more

Posted by Stanley Crossick

Jean-Claude Juncker’s view that the Lisbon Treaty cannot come into force until 2010 is entitled to serious consideration. Pressurising the Irish to change their minds could have the reverse effect. But the warnings of two prominent MEPs, Jo Leinen and Alain Lamassoure, must also be heeded. A further delay could have adverse repercussions in the… » read more

Posted by Stanley Crossick