Friday, May 7, 2010

Where are we now? The Iraq Quandary ...

Where are we now?

It is a fact that the UN will not continue forward without a seated government. A government that will be accepted by the people. Without a functioning government, the possibility of Iraq returning to violence is a given. link ~ May 2010 ~ IRAQ SECURITY COUNCIL REPORT ... ~ snip "There is recognition among council members that the makeup of the new Iraqi government will likely have some impact on Kuwait-related issues. If such engagement is slowed or stalled for an extended period, some feel that it will be more difficult for the Security Council to come to agreement on removing the restrictions imposed in historical resolutions" and that would be (Chapter 7). Chapter 7 must be lifted. Kuwait has stated they will fully cooperate after the new Iraqi government is in place and a new Prime Minister has been named. link ~ (Chapter 7) Kuwaiti MPs Iraq Settlement of Debt and Compensation and Open a New Page in Relations

On May 25th -Iraq must either have a new government in place or they fall into a "constitutional vacuum" or they could give the President ...more power or Prime Minister status. link ~
*** May 25th last of gov't days ~ Article 81 of the Constitution empowers the President of the Republic as prime minister for any reason ...

All meetings and events for the month of May, IMO, are for tying up loose ends.

I still believe that we will see multiple countries revaluing their currencies at the same time. China could make its move next week which would come before the scheduled meeting on May 24th and 25th between China, Hillary Clinton and Timothy Geithner ... links ~ China May Scrap Yuan Peg Next Week ... and May 24-25 ~ Geithner, Clinton to visit Beijing end of May ...

Also, GCC has been moving right along they meet tomorrow and then again on Tuesday *** May 8th ~ GCC finance, economy ministers meet Saturday in Riyadh ... and May 11th ~ The 12th consultative meeting of GCC ...

Another interesting meeting being held on Tuesday in the green zone between the UN and Iraq -
link ~ Tuesday, May 11th ~ Iraq and United Nations signing of "the framework of the United Nations Development Assistance" ...

*Also, remember the delayed currency report ~ Timothy Geithner decided to delay publication of the report to Congress on the international economic and exchange rate policies of our major trading partners which was due on April 15 and he postponed because of a series of very important high-level meetings over the next three months that will be critical to bringing about policies that will help create a stronger, more sustainable, and more balanced global economy.- Link ~ April 15th Delay ~ US delaying Currencies Report Amid China Dispute ~ 3 months of Important Meetings Coming Up ...

June 4-5 2010 G20 Finance Ministers in Busan, Republic of Korea, to prepare for the June Leaders’ Summit in Toronto, Canada link ~ June 4-5 Next Meeting ~ Text Of G-20 Finance Ministers, Central Bankers’ Statement April 23, 2010 ...

July 1st is the beginning of the second half of 2010. It would be the optimum time, not only for accounting purposes, but for all of us to enjoy our summer.