Iraq rivals meet to bring premiership row to head ...

June 30, 2010

Iraq rivals meet to bring premiership row to head ...

Iraqi Prime Minister Nuri al-Maliki and his arch rival for the premiership Ayad Allawi met on Tuesday, aides said, in a bid to thrash out a row that has stalled coalition talks for months.

The meeting was only their second head-to-head since an inconclusive March 7 general election that has created a prolonged power vacuum and fears insurgents intent on derailing constitutional politics might exploit the uncertainty.

"It was an exchange of points of view," said Hassan Sneid, a member of parliament from al-Maliki's State of Law alliance, who was present at the meeting.

Sneid said there "was no political deal" behind the meeting and its importance had been exaggerated.

But he added both al-Maliki and Allawi "expressed their wish to speed up the formation of a government before July 14," the deadline for parliament to hold its first session since deputies were sworn in earlier this month.

U.S ambassador Christopher Hill said the hard bargaining between the two declared rivals remained at a "preliminary stage," but that he was encouraged both sides were talking to each other constructively.

"Obviously there is going to be a lot of bargaining and discussion about ministries," Hill told reporters.

"There are questions whether we have a presidency position which is changed," he added, referring to suggestions that the deadlock be resolved by giving more power to the presidency to take the sting out of the dispute over the currently far more powerful premiership.

"The important thing from our point of view is that discussions are still ongoing," the U.S. ambassador added.

Hill welcomed the fact that both sides were agreed that all factions should have a stake in the new government, not just al-Maliki's Shiite-led State of Law and Allawi's Iraqiya faction which swept Sunni Arab provinces, but also the Kurds and the Iraqi National Alliance, INA, a Shiite religious grouping.

"The Kurdish alliance have some of their own desiderata," the U.S. envoy said in allusion to the longstanding ambitions of Kurdish leaders to incorporate the oil province of Kirkuk and other districts into their autonomous region in northern Iraq, aims that are strongly opposed by many Iraqi Arabs.

The pro-Maliki deputy insisted that the head-to-head with Allawi was not an attempt to sideline either the Kurds or the INA, with which the prime minister's list formed an uneasy parliamentary alliance in May.

"The meeting was not against our presence in the National Alliance or our relations with the Kurds," Sneid said.

A Western diplomat expressed concern that Allawi's faction and its Sunni supporters might have overestimated their real strength after narrowly topping Maliki's faction in the share of seats to become the largest single faction in parliament.

"The problem is that you have some Sunnis who say that he (al-Maliki) is weak as he is coming to us, let's wait until he's weaker," the diplomat said.

"Our hope is that Iraqiya won't overplay their hand," he added, suggesting that the list should content itself with two important ministries and perhaps the speaker of parliament.

The diplomat said that Maliki's chances of hanging on to the premiership have been underestimated by rival politicians, despite his inability to win the endorsement of even his own Shiite allies.

"The problem with saying that Maliki doesn't have a shot is that there is no one else," the diplomat said.

"Nobody likes Maliki but nobody has a red line against him."

The diplomat contrasted the incumbent's position with that of one mooted compromise candidate, Vice President Adel Abdul Mahdi of the INA.

"Adel Abdul Mahdi, everyone likes him but... I still don't think he represents a real political power right now," the diplomat said, alluding to the INA's poor showing in the election compared with Maliki's list.

http://www.hurriyetdailynews.com/n.php?n=iraq-rivals-meet-to-bring-premiership-row-to-head-2010-06-30

Listen As If You Were a Wise Person ...

June 30, 2010

Listen As If You Were a Wise Person - Heaven #3505

God said:

Learning patience doesn't have to mean what you think it means. It does not mean tolerating. It does not mean overlooking. It does not mean learning not to bite your tongue, gnash your teeth, tap your foot.

When the world revolves around you, it is hard to be patient. When the world does not revolve around you, you don't have to be patient because you do not focus on that which you perceive as needing to be patient about.

Impatience is too often based on presumption and assumption.

Physically, you do not push someone into a corner because you have decided that they are taking up your space. The sidewalk doesn't belongs to you. Pretty much you allow people their physical space. And yet you see time, which is the other side of the coin of space, as belonging to you as if it is yours to own. Within the circumference of time, you begin to see someone's words or acts as impinging on your time.

Time is irrelevant of you. You do not own time.

This is not meant to mean that others' time is more important than the time you are spending. Your time does matter. You do matter.

Bear in mind that you can focus on only one thing at a time. When you are focusing on time, you are not focusing on what the other person is saying or trying to say or doing or trying to do.

If you have only five minutes to give, give it. Do not skip over the five minutes.

When you have felt downplayed by someone else, you are impatient with their attitude toward you as you perceive it. Consider, if you will, that you may have been looking at the wrong end of the horse.

Allow others to express themselves as best they can. May you listen and partake objectively. Everything someone says doesn't necessarily reflect on you or is about you. Perhaps they do talk so they can hear what they are thinking. Listen as if you were a wise person who carries a balance in life. Give the gift of time as you can allot it. When you are wise, you have no need for impatience.

You are My beloved. The other is also My beloved. Give your attention to My beloveds. Have your attention on them more than you have your attention on time.

I understand that you have to take time into consideration. Listening is a better use of your time than impatience.

Let another have his rhythm. It may not be yours, and yet it has a place in the scheme of things. If you give him five minutes, give him title to the five minutes.

If you offer someone a cookie, you give him the cookie. You release the cookie from your ownership. Now the cookie is his to eat. Let time be the cookie that you give to another.

Someone has an appointment with you. It may not be a formal meeting, but you are meeting with him. Do not hustle him or yourself.

Concede that impatience is a poor way to use up time. What are you actually in a hurry for? Do you really want the day to be done? Do you really want to make your bed before you sleep in it so you don't have to make it in the morning when you wake up?

I have to ask you: What is your insistence on time and that you be done with it as soon as possible? Take your time before you answer. I will wait.

http://www.heavenletters.org/listen-as-if-you-were-a-wise-person.html

Iraq's National Alliance Will Name Candidate for Prime Minister in Days

June 30, 2010

Iraq's National Alliance Will Name Candidate for Prime Minister in Days

Two Shiite Muslim-led groups in Iraq that merged this month to create the biggest bloc of seats in parliament have agreed on their candidate for prime minister, according to a senior member, Ali al-Dabbagh.

The National Alliance, which includes Prime Minister Nuri al-Maliki’s State of Law party and the Iraqi National Alliance, will announce its selection “in the coming days,” al-Dabbagh, who is also the official government spokesman, said in a telephone interview from Baghdad today.

The bloc’s failure to agree on a candidate has contributed to a delay in forming a new government since elections on March 7. Under the constitution, the largest bloc gets first crack at forming the government only if it has a premiership candidate. The Shiite bloc needs four more seats to reach the 163 needed for a majority in the 325-seat assembly.

No group won enough seats to govern alone and political leaders have been seeking allies since the vote. The maneuvering coincides with U.S. preparations to cut its Iraq force to 50,000 from 86,000 by September, before a full withdrawal next year.

When the Shiite merger was announced on June 11, officials from all segments of the bloc said no deal had been reached on a candidate for prime minister. State of Law has insisted al- Maliki should stay for another four years. The INA has opposed al-Maliki, favoring one of their own leaders.

Politicians’ Meeting

Al-Dabbagh wouldn’t be drawn on the identity of the alliance’s candidate, and it wasn’t clear how the dispute had been resolved. Officials from the Sadr Trend and the Iraqi Supreme Islamic Council, the two main components of the INA, weren’t available to confirm the spokesman’s comments.

Al-Dabbagh said he was “the architect” of a meeting in the capital late yesterday between al-Maliki and Prime Minister Ayad Allawi, who also claims to lead the largest bloc in parliament.

The aim of the meeting was “to maintain the dialogue” and “collectively push the political process forward,” said al- Dabbagh, who was present for the two hours of talks at Allawi’s party headquarters.

Committees have been formed to represent al-Maliki’s and Allawi’s camps and will meet in the next few days, al-Dabbagh said. Al-Maliki and Allawi will attend the meetings only “if necessary,” he said.

Alia Talib, a member of Allawi’s Iraqiyah coalition, said today in an interview in Baghdad that yesterday’s talks were “very positive.”

State of Law came second in the elections, with 89 seats of the 325 seats, and the INA third, with 70. Iraqiyah, which was mostly backed by Sunni Muslim and secular voters, came first, winning 91 seats.

http://www.bloomberg.com/news/2010-06-30/iraq-s-national-alliance-will-name-candidate-for-prime-minister-in-days.html

House Passes Landmark Financial Reform Bill ...Senate to vote after 4th of July Recess ...

"Dodd-Frank now moves to the Senate, but will not pass before the Fourth of July recess. Scott Brown in particular has asked for time to form an opinion on the bill. After the recess, a replacement for the late Sen. Robert Byrd could be available to vote on it as well, which would ease Democratic efforts at passage"

The U.S. House of Representatives on Wednesday approved a landmark overhaul of financial regulations but the Senate put off action until mid-July, delaying a final victory for President Barack Obama.

House Passes Landmark Financial Reform Bill

Wednesday, Jun 30, 2010 - 8:08pm

Politics

Still, the 237 to 192 vote in the House marked a win for Obama and his fellow Democrats, who have made the most sweeping rewrite of Wall Street rules since the 1930s a top priority in the wake of the 2007-2009 financial crisis.

"It has been a long fight against the defenders of the status quo on Wall Street, but today's vote is a victory for every American who has been affected by the recklessness and irresponsibility that led to the loss of millions of jobs and trillions in wealth," Obama said in a statement.

Analysts say Obama is all but certain to get the measure on his desk eventually, but Democrats' hopes of sending him a bill to sign into law by the July 4 Independence Day holiday were dashed.

The death of Democratic Senator Robert Byrd and cold feet among Republican allies has complicated efforts to round up the votes needed in the Senate. A week-long break following the July 4 holiday means the Senate won't act until the week of July 12, at the earliest.

The bill would impose tighter regulations on financial firms and reduce their profits. It would boost consumer protections, force banks to reduce risky trading and investing activities and set up a new government process for liquidating troubled financial firms.

With congressional elections approaching in November, Democrats have ridden a wave of public disgust at an industry that has awarded itself fat paydays while the rest of the country struggles with high unemployment.

Wall Street and Republicans have tried to delay the bill or lessen its reach, but the measure has actually gotten tougher during its year-long journey through Congress.

Republicans say the bill would hurt the economy by burdening businesses with a thicket of new regulations. They also point out that it ducks the question of how to handle troubled mortgage finance giants Fannie Mae and Freddie Mac, which Democrats plan to tackle next year.

Fannie Mae and Freddie Mac, which own or guarantee half of all U.S. mortgages, have received a total of about $145 billion in taxpayer bailouts since being seized by the government in September 2008. Their regulator has said he does not know how much more taxpayer support they will need.

"All this bill before us does is perpetuate the same dumb regulation that got us into this financial pickle in the first place," said Republican Representative Jeb Hensarling.

Democrats have seized the opportunity to link their political foes with an unpopular industry.

Obama earlier on Wednesday accused Republicans of being out of touch with the American people for opposing reforms. Others echoed his line of attack on the House floor.

"Republicans have sided with big Wall Street banks at every opportunity," said Democratic Representative Luis Guitierrez. "If it helps Wall Street banks, they favor it, but if it helps Main Street and regular Americans, they won't vote for it."

SCRAMBLING IN THE SENATE

As Democrats marched to victory in the House, their colleagues in the Senate scrambled for votes.

Byrd's death left Democrats one vote shy of the 60 needed to overcome procedural hurdles in the 100-seat chamber, and Democrats have yet to nail down support from Republican moderates whose votes will be needed to advance the bill.

Those Republicans -- Susan Collins, Olympia Snowe and Scott Brown -- had voted for an earlier version, but they objected to a $17.9 billion tax on large financial institutions that was added last week to cover the bill's costs.

Democrats stripped out the tax in a last-minute negotiating session on Tuesday to address their concern. All three moderates said they were still studying the final bill before deciding how to vote.

Collins said she was inclined to support it, while Snowe said it was a "possibility" that she could vote for it.

"We're just trying to work it out and I am sure we will be able to, but it's important to get it right," Snowe said.

Brown, who won significant concessions earlier in the process, also declined to say how he would vote.

"It's morphed into something different than it began with and I think it's appropriate to read it," he said of the 2,000-plus page bill.

Democrats could also pick up needed support from their own side of the aisle. Maria Cantwell, one of two Democrats who voted against the bill earlier, said she might reconsider.

Democrat Christopher Dodd, the bill's chief advocate in the Senate, said lawmakers should not vote against it just because they don't like one or two elements.

"No one's going to get everything they want in this bill, I certainly didn't," he said. "I've done everything I know how to do to accommodate my colleagues to make this as fair, as balanced, as thoughtful as I possibly could."

Representative Barney Frank, the Democrat who has overseen the bill in the House, said he would try to revive the tax on banks in separate legislation. Congress also could pass a bill to fix technical mistakes in the legislative language, an aide to Frank said.

Even after Obama signs the wide-ranging reform bill into law, its final impact will remain unclear for several years while regulators work to put it into effect.

AP

(July signing?) - June 4th - 5th ~ G20 ministers face more wrangling over bank tax, and ... July ~ Obama may be signing into law ...

Maliki, Talabani and Abdul-Mahdi, the importance of accelerating the formation of the government and a commitment to constitutional deadlines

This agreement comes at a time met the President of the Kurdistan region Massoud Barzani yesterday in Erbil

Thursday July 1, 2010

In line with Maliki, Talabani and Abdul-Mahdi, the importance of accelerating the formation of the government and a commitment to constitutional deadlines

In conformity with separate meetings yesterday evening

بغداد – الصباح BAGHDAD - morning

Two meetings held out by President Jalal Talabani, met separately with Prime Minister Nuri al-Maliki and Vice President Adel Abdul Mahdi, an agreement on the need to accelerate the formation of the government and a commitment to constitutional deadlines.

This agreement comes at a time met the President of the Kurdistan region Massoud Barzani yesterday in Erbil

With representatives of the Kurdish political blocs to unite the class.

The President of the Republic at his residence in Baghdad yesterday by the Prime Minister and discussed with him the overall challenges in the political arena in the country.

Presidential statement received «morning» copy of it, said President Talabani, Maliki briefed on the results of his visit to Jordan and then to Libya, where he participated in five Arab summit held in Tripoli, and resulted in the issuance of a document containing the vision to develop the system of joint Arab action.

The statement quoted Talabani as saying: It's «explained the Jordanian King Abdullah II, the real situation and the path of the current political developments in Iraq, in addition to stressing the need to strengthen bilateral relations between the two countries in the fields of trade, economic and oil.

During the meeting, they exchanged the President and the Prime Minister of views on the political movement in the country, where it was agreed on the need to uphold the constitutional deadlines in relation to the election of Chairs and accelerate the formation of the next government.

For his part, al-Maliki to explain the State President Talabani results of his talks with the head of the Iraqi National List of Iyad Allawi, adding that he discussed the developments with Allawi, the general situation in the country.

It is said that al-Maliki, Allawi met on Tuesday evening and discussed the broad outlines of the government formation, but they did not tackle the issue of distribution of positions sovereign.

In the meantime, discuss with President Talabani, Vice President Adel Abdul-Mahdi on Tuesday evening, political developments and ways of addressing the stalemate in the ongoing political process, stressing the necessity of concerted efforts to accelerate the formation of a government of national partnership.

President Talabani and reviewed during the meeting the results of his talks with the Jordanian King and his participation in the five-Arab Summit.

For his part, praised Abdul-Mahdi, the results of those visits by President Talabani and as an important step for the development of friendly relations between Iraq and the Arab and activating the role of Iraq as a founding member of the Arab League.

In Arbil, the President of the Kurdistan region Massoud Barzani, with representatives of the Kurdish political blocs, as confirmed by Barzani, Patriotic Union of Alcardstei site, that the position of the Kurdistan Alliance bloc in the negotiation is to protect the unity and organization of the Kurdish House.

Barzani also discussed with the Special Representative of the Secretary-General of the United Nations in Iraq, Ad Melkert in Arbil on Wednesday, the developments of the political situation and security in the Iraqi arena and the current talks between the blocks of winning the election to form the next federal government.

***Europe and the GCC Advance to Long Awaited Monetary Plans ...

...................Ancient Koch Palace

"The second session will discuss lessons learned from the financial crisis on financial stability and banking supervision, while the third session will discuss the current challenges in the area of monetary policy and exchange rate policy in the GCC"

6/30/2010

European-GCC seminar on monetary issues begins

ROME, A scheduled senior-level seminar organized by the European Central Bank and the Bank of Italy got underway here on Wednesday with participation of Sheikh Salem Abdel Aziz Al-Sabah, Governor of the Central Bank of Kuwait and the chairman of the GCC countries central banks committee.

The second high-level seminar of the Eurosystem, involving GCC central banks and financial authorities, groups governors of central banks and monetary agencies in the Arab Gulf countries, their eurozone counterparts, ranking representatives of the European Commission and the GCC Secretary General Abdul Rahman Al-Attiah.

The forum is aimed at enhancing the level of relations and cooperation between the European and GCC monetary officials.

Agenda of the three-session gathering, held at the ancient Koch Palace that serves as the headquarters of Banca d'Italia, the central bank of Italy, deals with most significant economic and financial issues in the GCC and eurozone countries, impact of the global financial meltdown, means to solidify the international financial stability and banking supervision and exchange policies in the GCC states.

Sheikh Salem arrived here on Monday to take part the seminar, in response to a formal invitation from both the ECB and the Bank of Italy.

He earlier said that this seminar was aimed at developing relations and providing an opportunity for an exchange of views between the Eurosystem and GCC central banks and monetary agencies. He added that the seminar would focus on three issues of common concern, namely latest economic and financial developments in the GCC and euro zone.

The CBK Governor will address the first session of the seminar and discuss the latest economic and financial developments.

The second session will discuss lessons learned from the financial crisis on financial stability and banking supervision, while the third session will discuss the current challenges in the area of monetary policy and exchange rate policy in the GCC.

The CBK Governor will be a key speaker, addressing the theme "Lessons for monetary policies from the financial crisis." At the end of the seminar, a news conference will be held by the President of the European Central Bank, Bank of Italy Governor, and the Central Bank of Kuwait Governor.

related articles ~

*EU and GCC to endorse Action Plan to boost cooperation ...

*GCC 'can supply EU with power' ...

*Monday, June 14th Meeting GCC and EU ~ Politicial push needed for free trade deal, European official says ...

*Moving forward finally - EU and GCC

*GCC, EU endorse 3 year Action Plan to deepen cooperation ...

*** Central Banks Trim Greenback, Euro Holdings ...

July 1, 2010

Central banks trim greenback, euro holdings

The euro and US dollar's share of global foreign-exchange reserves both fell in the first quarter as central banks increased holdings of currencies from other economies, the International Monetary Fund said.

The US currency's portion dropped to 61.5 per cent in the period ended March 31, matching the lowest in more than a decade, from a revised 62.2 per cent in the prior quarter. The euro's share slipped to 27.2 per cent from a revised 27.3 per cent, while the yen gained and the pound was unchanged.

Central banks reported larger holdings of currencies in the IMF's category that may include Canadian dollars, Australian dollars and the Norwegian krone. Leaders including Russian President Dmitry Medvedev have called for a supranational currency to challenge the US dollar's dominance and wider international use of the ruble.

``The numbers do feed into the storyline that central banks have been diversifying,'' said Win Thin, a New York-based senior currency strategist at Brown Brothers Harriman & Co.

The IMF reports reserve holdings of US dollars, euros, pounds, yen and Swiss francs. The share of ``other currencies'' rose to 3.7 per cent, from 3.1 per cent in the previous quarter and the highest level in at least a decade of IMF record- keeping.

The euro fell 5.7 per cent against the US dollar from January through March, its steepest quarterly drop against the US currency since a 10.6 per cent decline in the third quarter of 2008. The slide has continued through the second quarter, with the euro about 9 per cent weaker since March 31.

`Safe-haven'

``The timing is kind of interesting because at the time we were all looking at significant safe-haven flows into the US dollar from many countries around the world,'' Kathy Lien, director of currency research with online currency trader GFT Forex in New York. ``It means maybe that participation wasn't necessarily from central banks, perhaps central banks were simply selling the euros and not necessarily accumulating dollars at the same time.''

The pound's share of reserves was unchanged at 4.3 per cent, while the yen's portion rose to 3.1 per cent from 3 per cent, according to the IMF data.

The IMF calculated the US dollar's share based on data from central banks that report their currency allocations. Some countries, including China, the world's largest reserve holder, don't give currency breakdowns.

Bloomberg News

related articles ~

Russia diversifies into Canadian dollars

China's RMB May Be Included in Russia's Forex Reserves

Medvedev sees chance for new world order ...

The "Significant" Arab Social Meeting Ends on a Negative Note ~ "Global economic crisis not over yet, may worsen" ...

6/30/2010

Global economic crisis not over yet, may worsen -- Kuwait warns

CAIRO, Kuwait warned on Wednesday the global economic crisis was not over yet and that it might even deepen due to several factors namely prospects of the crumbling of economies of some European nations.

Minister of Social Affairs and Labor Dr. Mohammad Al-Afasi, in a statement addressed on his behalf by his Saudi counterpart, Dr. Yousef Al-Othaimeen, at the 29th session of the Arab ministers of social affairs and labor, said the international financil crisis "persisted," and despite prevailing optimism it might end in the near future, the possibilities that it could worsen also remained, "for there were no signs about full-scale recovery of the international economy.

"In fact there are some dangerous indications as a result of the collapse of the Greek economy and prospected crumble of the economies of a number of the European Union." This crisis has caused wide-spread unprecedented unemployment and economic recession that might develop into depression, thus threatening to obstruct the development schemes in the regional states, said Al-Afasi, whose remarks were uttered by Al-Othaimeen -- the Kuwaiti official could not be present at today's session due to his participation in crucial sessions of the parliament at home.

The global meltdown has also negatively affected regional nations' growth, cut down prosperity, thus boosting spread of poverty, unemployment, limiting health care services and causing deterioration of teaching and public utilities, the Kuwaiti official added.

He indicated at the necessity to adopt new approaches to ensure sustainable development, with diversifying economic policies and production means, an approach that had been adopted by the 2009 Kuwait-hosted Arab economic summit.

However, the minister of social affairs noted that the Arab states would not be able to adopt such an approach successfully unless all social forces join hands in the implementation of development policies "and this requires that we urgently act to maintain the social fabrics of our nations."

On the GCC states, he acknoweldged that the six member states of the council have not realized objectives of the sustainable development, calling on the conferees to seek to work out common strategies and mechanisms for attaining this goal.

He praised the Arab third technical report for development that specified and analyzed develpment problems in the Arab world.

related article ~

***Wednesday ~Significant Arab social meeting due Wed. Significant - Kuwaiti official

Good News From Iraq ...

June 30, 2010

Good News From Iraq

There has been a lot of media attention given lately to the military, our troops, and our war strategy. Almost without exception, this attention has focused on Afghanistan. Of course, there's a good reason for this, since President Obama just removed the commanding general from Afghanistan and replaced him. And the Senate just confirmed General David Petraeus to take over the American war effort there. But with all of this attention -- especially the attention of Republican senators on Obama's "timetable for withdrawal" of the current Afghanistan "surge" effort next July, what is noticeable by its absence is any discussion of how our timetable for withdrawal is going in Iraq. In all the media discussion of Afghanistan, there has been virtually no mention of what's happening currently in Iraq.

A quick review, to begin. When Obama took office, we had over 140,000 troops on the ground in Iraq. This number has steadily fallen, until a few weeks ago when the troop levels were in the news because the number of troops in Afghanistan -- for the first time since both wars began -- had surpassed the number of troops in Iraq. At that point, there were around 90,000 troops still in Iraq.

Today, a Department of Defense spokesman, when asked how many troops remained in Iraq, responded: "We are on track to drawdown U.S. forces in Iraq from approx 82,000 (where we are today) to just under 50,000 by the first of September." In response to the bigger question of how the withdrawal is proceeding, the spokesman answered: "In the coming weeks, we will see the drawdown accelerate, providing the security situation remains stable. By December 31, 2011, all U.S. forces will be out of Iraq."

This is, obviously, good news. And perhaps, with the holiday weekend in front of us, the news media will begin to cover the story of our brave men and women returning from overseas in large numbers. But so far, they've been missing this story.

The American troop withdrawal from Iraq was one of the most hotly debated subjects on the campaign trail in 2008. Republicans, led by their presidential nominee John McCain, were outraged that any timetable for withdrawal was even being discussed. They used some pretty scary language to describe what would happen if Obama won and instituted a "precipitous withdrawal." Obama was, at the time, saying we could likely withdraw a "brigade a month" starting when he took office, and other Democrats wanted an even faster withdrawal. None of this came to pass, but the astonishing thing is that now -- when the withdrawal has actually gotten under way and is about to accelerate -- so little attention is being paid by the media and the public. Who would have thought, watching the candidates spar back then that the Iraq withdrawal would happen and America's response would be "ho, hum..."?

Our actual "timetable for withdrawal" in Iraq was set in stone by none other than President George W. Bush, right before he left office. Less than two months before Obama's inauguration, Bush signed a "Status Of Forces Agreement" (SOFA) with the Iraqi government. This document covers all the legalities of American forces in Iraq, and it charts the end of American involvement in the country with very specific milestones. The first of these was met last summer, when American forces withdrew from Iraqi cities, and handed over control of many operations to the Iraqi government and the Iraqi military. The final milestone will be reached at the end of 2011, when all American troops are slated to be gone from Iraq for good.

The upcoming milestone of reducing American forces to 50,000 troops is not explicitly spelled out in the SOFA, but rather was imposed by President Obama when, shortly after taking office, he announced his plans for withdrawing from Iraq. He backtracked on his initial "one brigade a month" idea, and delayed beginning the accelerated withdrawal until after the Iraqis held national elections. Instead, Obama committed to the end of August of this year as a milestone date for the 50,000 troop level.

Two months out, we are 32,000 troops away from achieving this goal, and the Pentagon seems fully confident that they can reach it. Moving that many troops out in two months will be a challenge (the logistics alone are daunting), but the official word is that we're on track to meet this challenge.

What's amazing is how uncontroversial the entire operation has been. At the same time that Senate Republicans are voicing loud disagreement over any such withdrawal timetables when it comes to Afghanistan, we are about to meet a big milestone in our withdrawal timetable for Iraq -- and it doesn't even rate a mention.

Obama, the pundits say, is trying to "have it both ways" on his position on the Afghanistan withdrawal (slated for July of next year). He is trying to placate critics on the right by saying "we're not going to turn out the lights and disappear overnight" -- in other words, answering the same "precipitous withdrawal" criticism leveled at him during the campaign over the Iraq withdrawal. But, at the same time, Vice President Joe Biden is out there reassuring the left that Obama is not going to just pull ten soldiers out of Afghanistan and say "see, we've started the withdrawal," and is privately telling folks that a goodly number of troops will indeed be coming home on this schedule. Hence the "having it both ways" critique.

What is surprising is that neither side brings up the Iraq withdrawal in their arguments. Because it could be spun both ways. The right could complain that Obama does take these deadlines seriously, and that when he says he's going to start a withdrawal next summer, that's exactly what we should all believe he's going to do. The left, on the other hand, could say that Obama's already broken one promise on how he will withdraw troops (the "one brigade a month" idea) and delayed the beginning of the withdrawal almost a full year, so why should we trust him on Afghanistan?

As I said, either case can be made with some validity. I leave it for others to make these cases, though, because while discussing the political ramifications of withdrawing troops in either country is interesting, as we approach the celebration of the birth of our country I'd prefer to see the positive side of the troop withdrawal from Iraq.

Our brave men and women in uniform are coming home from Iraq, by the thousands. Perhaps they could have come home earlier, but perhaps they could have come home later, as well. What is indisputable is that they are coming home, and that the 50,000 who will remain in Iraq after the end of August will also be coming home -- in less than 18 months.

So while I go out and celebrate my patriotism this weekend, my thoughts will be with the soldiers returning home safely to their loved ones, as we wind at least one of our wars down. And with the ones who didn't make it home, and with the ones who haven't made it home yet. But no matter how you feel about America's involvement in Iraq or Afghanistan, I think everyone can agree that seeing soldiers coming home is good news indeed.

http://www.huffingtonpost.com/chris-weigant/good-news-from-iraq_b_631510.html

Two Trillion Dinars for the Implementation of Projects Launched !

July 1, 2010

Council endorses the launch of Baghdad more than two trillion dinars for the implementation of projects

بغداد - مهند عبد الوهاب BAGHDAD - Muhannad Abdul Wahab

Council approved the Baghdad province to launch more than two thousand billion dinars from the allocations within the regional development budget next year to support service projects in the capital

The Secretariat allocated Baghdad killed five billion dinars in the current year budget for the advancement of environmental realities and to accomplish a number of service projects. An official source in the provincial council in an exclusive statement to »Sabah» that Trliuna and 457 billion and 109 million dinars allocated for the projects the province of Baghdad, and 840 billion and 622 million dinars to the Secretariat Baghdad. He explained that the amounts were divided by 309 billion dinars allocated for projects of local administration, and 482 billion for water and sewer and 170 billion for electricity and 190 billion dinars to the municipalities, noting that 110 billion dinars allocated for education and 65 billion for the health sector and 60 billion for agriculture, 25 billion for the youth and 25 billion for the Baghdad security , in addition to the allocation of 30 billion dinars, are equally distributed between urban planning, transport, interior and three billion dinars to the tourism sector. The source added that the draft Baghdad Municipality projects included water Baghdad assignments amounted to 204 billion dinars, and 137 billion and 255 million dinars for sewerage and 59.5 billion dinars for waste , while the secretariat allocated 203 billion dinars for the administrative and 205 billion for projects and 21.5 billion for parks and 397 million for the designs.

The source quoted the President of the Baghdad Provincial Council full-Zaidi said that the details of the budget for next year was postponed in anticipation of being customizations allocated do not meet the ambitious, noting that was expected to allocate about two trillion dinars within the budgets of the past two years, but the allocations did not exceed 625 billion dinars, and wondered about the failure to secure these customizations after the improvement of system of oil production and rising exports. called Zaidi source said the Council of Ministers and the Ministries of Finance, Planning and Development Cooperation that granted the province of Baghdad maturity, as the capital of the country and has events large and international benefits of hosting the meetings of the Arab League, noting that the capital was deprived in 2009, allocations amounted to 416 billion dinars. For his part, the Chairman of the Integrity Committee in the Baghdad Provincial Council Abbas Aldhlki that budget preparation was not as needed Indeed, service, noting that it has neglected some sectors including health, education, totally disregarded, in the recipe.

He added that Baghdad needs to build hospitals and units, burns and primary health care units and cardiopulmonary resuscitation, as well as the rehabilitation hospital, I'm the flower of disease tuberculosis, emphasizing the need to 1500 2000 schools with not enough assignments to build more than 60 schools. For its part, said the Municipality of Baghdad in a press statement received «morning» copy of which it has allocated two billion dinars for the Department of Solid Waste and Environment to complete the design and implementation of the project management of wastewater treatment of uses of the Green Belt.

The statement continued, One billion dinars allocated for the establishment of a pilot site for the landfill's health by Rusafa in addition to 500 million dinars for the rehabilitation of landfills health closed, pointing out that 500 million dinars allocated for the purchase of machinery specialized for plants manufacturing and the payment of accounts crushing rubble, the four and the needs of laboratory environment.

He said that the Secretariat has allocated one billion KD for the purposes of investment services and preparation of tender documents for the Service for the environment, assuring the continued construction of the nine stations, manufacturing of waste in both sides of the Karkh and Rasafa in agreement with the company Okzim Turkey at a cost of 26 billion dinars, and the project of establishing labs for sorting and recycling of waste worth 105 billion dinars in collaboration with Afnan Turkey.

Alsabah

POOF for JUNE 27th: "WHEW..."

Bumped ~

Sunday, 27 Jun 2010

Subject: Whew.....


Title Age Of Aquarius

Artist The 5th Dimension

When the moon is in the Seventh House
And Jupiter aligns with Mars
Then peace will guide the planets
And love will steer the stars

This is the dawning of the Age of Aquarius
Age of Aquarius
Aquarius! Aquarius!

Harmony and understanding
Sympathy and trust abounding
No more falsehoods or derisions
Golden living dreams of visions
Mystic crystal revelation
And the mind's true liberation
Aquarius! Aquarius!

When the moon is in the Seventh House
And Jupiter aligns with Mars
Then peace will guide the planets
And love will steer the stars

This is the dawning of the Age of Aquarius
Age of Aquarius
Aquarius! Aquarius!

Let the sun shine, Let the sun shine in
The sun shine in
Let the sun shine, Let the sun shine in
The sun shine in
Let the sun shine, Let the sun shine in
The sun shine in
Let the sun shine, Let the sun shine in
The sun shine in
Let the sun shine, Let the sun shine in
The sun shine in
Let the sun shine, Let the sun shine in
The sun shine in
Let the sun shine, Let the sun shine in
The sun shine in
Let the sun shine, Let the sun shine in
The sun shine in
Let the sun shine, Let the sun shine in
The sun shine in
Let the sun shine, Let the sun shine in
The sun shine in
Let the sun shine, Let the sun shine in
The sun shine in

Greetings and Salutations:

I will say a few things and that's about it. The bulk of what I know is not my place to drop on the public and really only add to what I put out last week. If you have a grasp what it means to enter the age of aquarius (2007) then what's happening around us would only make sense. Before you get peace and understanding, you have to rid the world of that which would attempt to block it.

If you don't understand that even during ww2 the allies were using astrology to win the war, do a little reading, you might find out that Ike had astrologers and reagan, clearly had one. It doesn't matter whether any of us 'believe in' that stuff or think it's all demonic, the people you've been voting for are paying attention. If you want to grasp the world working around you, you have to understand their motives.

In 2000 'they' used certain things to grab the american people's attention and hold it until, it all began to break down, just couldn't sustain anymore. Still the effects are wafting across the ground as too many 'forgot' what happened for 8 years so they blame obama for what they created. They took advantage of american forgetfulness on what happened last week or even the week before. They used Hitler's 'Mein Kampf' to work the masses. Just keep repeating the same thing over and over and pretty soon it becomes the 'new truth'. Facts are but accepted opinions, which are subject to change, as real truth blazes upon them, showing them to be flawed.

All countries have their money now and need drops to make that stuff liquid. Obama has no more ability to stop any of this than my cat does. It's hard for the west to think or believe that people exist that have the wherewithall to put the whole planet's banking system straight. They have more resources than these goons ever dreamed off. Because of that, 'the goons' couldn't believe when the folks they borrowed from, raided the game. The parents came downstairs.... Anyone know where bernanke and a bunch of other central bankers are right now? Basel, at the BIS...where the crap drops from high heights and these guys are no more than employees in the global game of banking.

I hope you reread that and think about what I just said, as you cuss out the citibanks, etc, of the world. Fulford needs to recheck his facts, jd rockefeller didn't have the majority holdings of the fed, the rothschilds did, and they used jp morgan to do it. Rocky had to deal with that and one of the reasons chase ended up being enfolded by jp morgan. Debt will come and get you, no matter what you think of yourself. Many banks across the planet are dealing with the lender of 'first resort' now because, all the seconds and thirds are broke.

As I repeat the ancient chinese curse, 'be careful what you wish for, you may get it', we all need to process that thru the grey matter. Logic will fail many times if you remain a slave to the mental circuits. The mind is a tool, that's it. That is not 'knowing', that's 'believing', belief remains a process because it requires 'thinking'. Experience(gut) removes the need to think about stuff. Fire hurts if you stick your hands in it and unless you 'know' how to render that harmless, you're going to get some blisters or worse. So watch yourself when trying to 'transcend' physicality. Belief is but a bridge to knowing. I believe, 'I can do this or that' but, experience will teach whether that works or not.

Do yourselves a favor, remember this; just because some media outlet says this or that, doesn't mean it's real and factual. I'm getting hammered with what the talking heads are saying but I already know they don't know what they are talking about and they are making 'stabs' at it. Oh there are a few who are asking deeper questions but that bores people who want to 'know' with in 5 mins....you aren't going to know and you aren't going to get what people who have a whole lot more years under their belts know from experience, know. Stop thinking that the us runs the world, that would be a good step in the right direction.

Briefly, they have already put 3 super banks online with 4 more following. These banks will be running the entire new banking system world wide, or perhaps I should say ARE running it. You will witness a big currency shift, that's all precious metal backed, ending up with one world currency. Ending this all over the map stuff we've been watching for years. This is not the old 'thousand points of light' , old man bush was pushing back in his day...matter of fact, a whole lot of stuff he was trying to do got blown out of the box. (google prescott bush) Not turning this into a prison planet, sir, and there will be no 4th reich...got it?( it wouldn't be prudent) It wasn't obama resisting at the meetings it was merkel, trying to help her cousin out. But what the hell, lets blame everything on obama! He's arrogant, sitting in the wh preening, being arrogant and uppity, spending white folks money and a 'foreigner' at that. Negroes don't know anything about big money and organization, they are suppose to serve the white man so we'll let him flounder around and then come waltzing back in and get rid of him and that whole idea he was promoting. We'll be the saviors and the people will vote us back into power, done, what's 4 years? I see Jeb is making moves already. Ya really think the rest of the world doesn't know what took place in 2000?????? And they will permit you to start that crap back up again?

Man, 'stupid is as stupid does'! By the time they get done ripping a hole thru texas politrix, there won't be a hole for any of them to hide in. Which is already underway, btw.

Yep cheney got tossed out of a BoA for trying to steal program money but dummy still didn't learn, now he's got heart problems...the same thing that happened when he found out his money disappeared when dubai world went down a few months ago. A person said to me, 'well, that was just him choking on another lie he's told'. This is going to be one of those cases where the daughter who believes in her daddy finds out he's full of crap and has to live with it for defending his belief system. This is ugly, that's all I can say.

The vatican is getting it's clock cleaned and think Jesus is going to come down and rescue them. You've broken every tenet he laid out, behind the scenes and what, you don't think a divine being couldn't see what you've been up to??? Whaddya think everyone is stupid? Your first move back to rehab is admit what the chinese did for you. Too hard? Let me see now, who owns the vatican bank? Who owns buckingham palace and the grounds it's sitting on?

Oh, there's so much more and it will be revealed, which is the big reason the bad guys have fought so hard. They never wanted their business put on the street, should have thought of that when they were offered the chance to walk away, with even some money in their pockets. I'm watching the manifestation of what I was told 30 years ago, 'if they fight, we'll bankrupt them'.

I just never thought anyone could be so obtuse, so plain bereft of commonsense. Reptiles, however, are not the smartest on the food chain and these guys have been displaying that they are no higher than lizards in mentality. I'm sticking a plug in it and let those whose position dictate, drop the goodies and be Heard when they tell it. Afterall, I might be delusional or just plain lying to benefit myself somehow. My only final statement is, 'don't buy any wooden nickels' out here and listen carefully as the announcements begin. People are about to have their whole heads scrambled, whaaaaa? I took you to the river, now you'll have to drink the water if you expect to be sustained.

I'll handle what ever left over calls I haven't made yet and you know how to reach me for consultations. Btw clyde has already moved into the position he said he would when the time came. Miracles never cease.

Donations needed and accepted at www.paypal.com account 2goforth@safe-mail.net

Love and Kisses,

"Poofness"

Sadrists morally committed to nominate Jaafari as PM ...

Snip ~ "Now as I have said for the past few weeks I expected to see the new Prime Minister of Iraq to be Malikii or someone close to him....one of Malikii's right hand men (Jafari is a possibility).

Phoenix Update Friday, June 11th, 2010 ... and the winner is ...?

June 30, 2010

Sadrists morally committed to nominate Jaafari as PM – source

BAGHDAD / Aswat al-Iraq: The Sadr Movement is still committed to the nomination of Ibrahim al-Jaafari to hold the position of Iraq’s Prime Minister (PM).

“This is a moral commitment,” Mohammed al-Bahadli, the head of the movement’s political bureau, told Aswat al-Iraq news agency.

He noted that the movement does not force other political blocs to accept this nomination.

Last April, Jaafari came first in a public referendum carried out by the Sadr Movement to find the figure that enjoys popular acceptance for this nomination.

MH (P)/SR

Jaafari Fact Sheet:

Dr. Ibrahim al-Jaafari, a physician by training, joined the Islamic Dawa Party, a clandestine Shi’a Islamist movement, while studying medicine at Mosul University in 1966. Following the crackdown on members of Dawa in 1980, al-Jaafari fled to Iran, where he stayed for almost a decade and continued his activities on behalf of Dawa. Al-Jaafari moved to London in 1989, where he worked as spokesman for the Dawa Party. He returned to Iraq shortly after the 2003 invasion.2

Al-Jaafari served as Prime Minister of Iraq’s transitional government from April 2005 to May 2006. He presided over the marked rise of sectarian violence and the insurgency in Iraq and his term in office was one of the bloodiest periods in Iraq since 2003. Al-Jaafari was seen as incapable of stemming the rise in sectarian and insurgent violence; many viewed his government as complicit in the sectarian cleansing.

Following Iraq’s first national election in January 2005, al-Jaafari was selected to continue as Prime Minister by the United Iraqi Alliance, but Sunni and Kurdish blocs objected strongly to his candidacy on grounds of his inability to reverse the worsening security situation.4 Al-Jaafari was ultimately forced to step down from the post in favor of another Prime Ministerial candidate, Nouri al-Maliki, after months of increased pressure and tense negotiations.

Al-Jaafari’s tolerance of Shi’a militias, his relationship with Iran, and his close connections to Muqtada al-Sadr made his continuation as Prime Minister unacceptable to U.S. and even Iraqi officials during the government formation negotiations in 2006.

Al-Jaafari broke from Dawa in late May 2008 to form his own party, the National Reform Trend, amidst growing conflict with Dawa’s leadership.7 The move was widely seen as an effort to improve his political prospects in advance of provincial elections (then scheduled for late 2008). He was formally expelled from Dawa in early June 2008.

Al-Jaafari has maintained a close relationship with the Sadrist Trend and the Islamic Supreme Council of Iraq (ISCI).

Muqtada al-Sadr was al-Jaafari’s main backer during the government formation negotiations in 2006, even after he lost the support of the other main Shi’a parties.

Al-Jaafari defended Sadr’s militia, the Jaysh al-Mahdi, in 2006, despite its involvement in sectarian violence.

Sadrist support for al-Jaafari continues. He garnered the most votes in the Sadrist referendum for Prime Minister, an unofficial poll administered by the Sadrist Trend.

Al-Jaafari’s relationship with members of ISCI dates to his time in exile in Iran during the 1980s.12 He was one of only a small number of Iraqi politicians to attend the funeral procession for Abd al-Aziz al-Hakim in Tehran.

More recently, Jaafari was integral in the negotiations to rebuild the Shi’a electoral alliance in advance of the 2010 elections, along with members of ISCI.

Al-Jaafari ran in the March 2010 parliamentary election as part of the Iraqi National Alliance, the predominantly Shi’a bloc that included the Sadrists and ISCI; however, his party only won one seat in the election, his own.

http://www.understandingwar.org/reference/fact-sheet-ibrahim-al-jaafari

U.S. Ambassador, Hill, Expresses Keenness on Iraq's Stability and Prosperity while meeting with President Talibani today ...

Talabani discusses with U.S. ambassador, Christopher Hill, Iraq’s developments

June 30, 2010

BAGHDAD / Aswat al-Iraq: Iraqi President Jalal Talabani discussed on Wednesday with U.S. Ambassador to Iraq, Christopher Hill, the latest political developments in Iraq, according to a presidential statement.

“The president underlined that talks and meetings between all political blocs concerning forming the new government still underway until reaching a joint agreement among all blocs,” said the statement received by Aswat al-Iraq news agency.

“The president also said that he continues his efforts within that context to form a government of national unity,” it added.

For his part, the ambassador said that his country supports the political process in the country, expressing the U.S. keenness on Iraq’s stability and prosperity.

SH (P)

JULY 1st WAS LOOKING GOOD ... A FEW THINGS TO LOOK FOR ...

Results of the following meetings:

*Addition ~ maybe something, maybe nothing ...

Dear Warka Clients, Please note that Warka Bank for Investment and Finance will be closed this Thursday July 1st 2010 settling and reconciling our mid annual finances in accordance with the regulations and requirements set by the CBI. Our bank will be opened for business Sunday July 4th 2010 providing our full services and products. Best regards,Operations Team Warka Bank for Investment and Finance.

Results so far from above mentioned Warka news:

*Email from 3 different warka account holders saying _from Warka - We are amending the RSISX index to better reflect the trading and investing patterns on the ISX. Companies Dropped from the index:

We are taking out Warka Bank for Investment & Finance J.S.C. (BWAI) from the RSISX Index. We no longer believe the bank to be credible and represent the banking sector in IRAQ.

This is a reflection of the recent problems the bank faced with the increase in their capital and the current review by The ISX Commission of its accounts. Companies Added to the index: Gulf Commercial Bank (BGUC) to the index with 7.5% weight and we increased the weight of Investment Bank of Iraq (BIBI) from 5.0% to 7.5%. The Banking Sector weighting in the index remains 50%. The Index will be effective Sunday July 4. end.

July 1st? July begins the 2nd half of the year.

July 1, 2010 falls on a Thursday. The 4th of July falls on a Sunday.

Usually there is a 4 day holiday, and in that case, the Friday before is July 2nd and the Monday after is July 5th. July 1st would be a very opportune time to make changes.

_June 30th is the last day of the first half of 2010.

So, July 1st is considered the first day of the second half of the year. For accounting puposes, the Final date which Accounting/Controller’s must receive various types of accounting documents in order to ensure that they are posted during the fiscal year ending June 30, 2010.

_The United Nations has set a June 30th deadline for Iraq.

The security council requests a comprehensive report on progress during the period of the present mandate of the high level coordinator by June 30, 2010. If all goes well, Chapter 7 has a good chance of being lifted. as long as security conditions in Iraq remain stable and the new Iraqi government is proceeding without major delay. Iraq and UN Security Council Meeting - June 15th - What to expect, also a June 30th deadline ... _The financial arrangements for the High level coordinator will expire on June 30th. ***June 15th - Scheduled United Nations Security Council and Iraq ....

Updates: ***Security Council has extended funds to support High Level Coordinator for six more months

***June 24th update Iraq - United Nations Mission stresses the importance of forming a government in 30 days ...

_June 30, 2009 - Declared a holiday in Iraq?

Also, not sure if this will be an observed holiday or if it was a one day holiday June 30th 2009 . JUNE 30TH 2009 DECLARED A HOLIDAY IN IRAQ ...

_*** G20 Meeting June 26-27-2010

The long anticipated G20 Meeting will wrap up on Sunday, June 27th, and, hopefully the world leaders will return home and initiate the terms agreed upon before July 1st (wishful thinking on my part) June 26-27-2010 -The G20 Meets in Toronto, Canada

_Delayed currency report?

Also, where is the currency report that was due out on April 15th and delayed so China could get its act together and all important meetings could be concluded ...April 15th Delay ~ US delaying Currencies Report Amid China Dispute ~ 3 months of Important Meetings Coming Up ...

_*World is Waiting on China ... As anticipation grows, what will China's next move be ...

Revalue Renminbi or Dogs Unleashed, Patterson Says ... Chinese tell U.S. 'baby kissers' to lay off yuan issue ...

CHINA UPDATES:

***China announces yuan 'flexibility' (one more source) ... Depegs from dollar and no revaluation YET

June 27th China opens door to G20 discussions on yuan ...

_Obama wants to sign financial reform bill by July 4th

July 1st? (July signing?) - IMO, before we see a rate change, we will see a new financial reform package passed in the U.S. - (July signing?) - June 4th - 5th ~ G20 ministers face more wrangling over bank tax, and ... July ~ Obama may be signing into law ...

will update ...

***Look for Obama to mention the energy bill (cap and trade) in his address to the nation June 15th it will most likely be included in the overhaul of financial legislation that he wants passed by July 4th - link ~ Reid pushes to move energy bill in July ...

and we have ... on Friday, July 2nd ...

*** JULY 2nd ~ UN HIGH-LEVEL POLICY DIALOGUE - Heads of International Financial and Trade Institutions (World Bank, IMF, UNCTAD and WTO) ...

***Wednesday ~Significant Arab social meeting due Wed. Significant - Kuwaiti official

*This looks like "The Meeting" to keep an eye on ... 2009 Arab Summit in Kuwait was huge ... looks as though they will begin implementing the agreements made over one year ago ... financial ...!!! last year's article included after current article ...

June 29, 2010

Arab social meeting due Wed. significant - Kuwaiti official

CAIRO, Kuwait's Minister of Social Affairs and Labor Dr. Mohammad Al-Afasi affirmed on Tuesday signficance of the Arab social affairs ministers meeting due here on Wednesday.

Speaking upon his arrival in the Egyptian capital on eve of the meeting, Al-Afasi expressed hope that the scheduled conference would conclude with "satisfactory results for all," noting the conferees would discuss the Third Arab Report for Social Development of 2010 and extent of the Arab states' effects of the global economic crisis.

They would discuss how Arab nations would practically benefit from the fund for supporting medium and small enterprises, set up upon an initiative by His Highness the Amir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, during the Arab economic summit that was hosted by the Gulf state on January 19-20, 2009, the Kuwaiti official stated.(see article below)

The conference is due to address a host of other issues, namely a proposed report about objectives of the Arab development scheme and effects of the international financial crisis.

The report had been worked out by the Arab League in coordination with the United Nations Economic and Social Commission for Western Asia (ESCWA) and other UN and international agencies.

Tomorrow's meeting will be held as an irregular gathering, intended to address social and development issues of common concern for the Arab states.

Al-Afasi was received upon arrival by the Kuwaiti Ambassador to Egypt, Rashid Al-Hamad, and the Kuwaiti deputy envoy at the Arab League, Advisor Ahmad Al-Baker.

(end) sm.rk KUNA 292026 Jun 10NNNN
________

*** Arab summit seeks economic integration***

Arab News - January 21, 2009

The final session of the Arabs’ first-ever economic summit gave a rundown of the agreements: To launch a customs union in 2010, to set up a pan-Arab power grid and a rail network project.

The Kuwait Declaration called for “adopting monetary and fiscal policies to enable Arab nations to face the consequences of the global financial crisis.” According to one report, Arab countries have incurred losses of $2.5 trillion due to the economic turmoil.

The summit announced the establishment of an Arab Development Fund with capital of $2 billion to provide loans and assistance to establish small and medium enterprises (SMEs). Kuwait donated $500 million to the fund. The declaration urged “necessary steps to uplift the living standards of Arab citizens and to give priority to promoting inter-Arab investments.”

The Arab League estimates that Arab capital invested at home is equivalent to less than 20 percent of funds invested by Arab countries and businessmen in the United States and Europe.

“Despite progress made by some Arab nations, the Arab world is still facing many challenges... especially poverty, unemployment, poor inter-Arab trade and migration of Arab capital and brains,” the declaration said.

The leaders called for “strengthening the role of Arab funds and financial institutions by boosting their resources and easing restrictions on providing loans.”

The summit decided to establish the customs union by 2015 as a prelude to establishing an Arab common market in 2020.

Arab countries launched the Pan-Arab Free Trade Area about three years ago but it did little to boost commerce among members states, which remained at just between 10 percent and 12 percent of total Arab trade.

The summit also approved a resolution calling for measures that would halve the regional unemployment rate, which topped 14 percent last year, in the period between 2010 and 2020.

The leaders approved another resolution calling for the implementation of an Arab program for the reduction of poverty, which exceeds 40 percent in at least seven Arab nations.

They also approved a resolution calling for improved water security, one of the most acute problems facing the Arab world, where the desert makes up 68 percent of its area.

Although the Arab world occupies 10 percent of the world’s land and has five percent of the its population, its water resources are just a meager 0.59 percent of the world’s water.

http://archive.arabnews.com/?page=1&section=0&article=118391&d=21&m=1&y=2009

Iraq - UN Security Council is expecting a comprehensive progress report on Iraq and the Kuwait missing persons issue before 30 June???

Bumped ~

***June 30th Deadline - Scheduled United Nations Security Council and Iraq ....


Expected Council Action ??? imo, if the government hasn't been formed and Kuwait has stated they will proceed with negotiations only after the Iraqi government is in place, then it looks like nothing substantial will happen today. There will be a report but nothing more than that. Chapter 7 will remain in place until Iraq has a seated government.

The Council is expecting a comprehensive progress report on Iraq and the Kuwaiti missing persons issue before 30 June. The activities of the high-level coordinator, who advises the Security Council on these matters, are currently funded through 30 June.

Expected Council Action?

The Council seems likely to extend the coordinator’s activities before the end of the month. (Note:This has been extended 6 more months) link Iraq and Kuwait ~ Remember the 1990-91 Gulf War? 369 still missing ...

*2/16/2010 - Iraq predicts "package deal" will be reached with Kuwait after elections ...
link ~ Iraq predicts "package deal" will be reached with Kuwait after elections

*Tuesday, May 25, 2010
link ~ Iraqi UN Ambassador ~ Everything will go smoothly with Kuwait after new Iraqi Gov''t - Al-Bayati ...

*May 25, 2010
link ~ Iraq Chapter 7 ~ Signs of "ambiguity" prevent Iraq from good relations with Kuwait - UN official ...

It's A Long Way To The Top ~ Tribute to Maliki ~ by Phoenix 3333

IMF SDRs ~ Senior UN Economic Officials Recommend Greater Reliance on an Alternative to the U.S. Dollar known as Special Drawing Rights - Here we go~

*** JULY 2nd ~ UN HIGH-LEVEL POLICY DIALOGUE - Heads of International Financial and Trade Institutions (World Bank, IMF, UNCTAD and WTO) ...

June 29, 2010

Top United Nations economic officials urge less global dependence on the U.S. dollar in a report that calls for broad changes to the world's financial policies and markets.

A major economic and social survey criticizes use of the dollar as the global reserve currency. It says the dollar ties the global economy to a U.S. monetary policy that is “based only on the state of the United States economy.”

Instead, senior UN economic officials recommend greater reliance on an alternative to the U.S. dollar known as Special Drawing Rights. The International Monetary Fund uses SDRs as an accounting unit to let nations hold funds within the IMF based on a basket of major currencies.

Several countries including China and Russia have called for an alternative to the dollar as a reserve currency and suggested using the IMF's internal accounting unit. The UN survey also proposes a new international agency to coordinate financial regulation of global currency reserves.

UNITED NATIONS – The U.N.'s top economic officials called for less global dependence on the U.S. dollar in a report Tuesday that urges broad changes to the world's financial policies and markets.

A major economic and social survey says the global financial crises have exposed systemic weaknesses, including its reliance on the dollar. One of the drawbacks of making the dollar the global reserve currency, it says, is that the global economy becomes tied to U.S. monetary policy, which is "based only on the state of the United States economy."

Instead, Jomo Kwame Sundaram, U.N. assistant secretary-general for economic development, and other senior U.N. economic officials recommend greater reliance on an alternative to the U.S. dollar known as special drawing rights, or SDRs.

"Obviously there's going to be resistance because in the whole post-war period we've had essentially a dollar-based system," said Jomo, a prominent Malaysian economist and author. "But this kind of transition can be achieved through a gradual process of SDR emissions. And this would not be disruptive."

The International Monetary Fund uses SDRs as an accounting unit to let nations hold funds within the IMF based on a basket of major currencies. Several countries including China and Russia have called for an alternative to the dollar as a reserve currency and suggested using the IMF's internal accounting unit.

Rob Vos, director of the U.N.'s economic analysis division, said basing global currency reserves on "truly international liquidity" would reduce pressure on the U.S. dollar "because in order for countries to accumulate reserves in the form of dollars, the United States has to run deficits."

The U.N. survey also proposes a new global authority that would coordinate financial regulation, saying that the IMF has not been an effective risk manager and does not have the power to deal with crisis situations.

In calling for a new agency, the report cites the global nature of financial markets, in which one nation's failure can spread harm to others, as has been seen with the U.S. and Europe. Currently, it says, there's a danger that investors using different regulatory frameworks and complicated derivative products can spread "increased risk throughout the global financial system."

Other recommendations include:

• Reorganizing fragmented sources of aid for developing countries and dealing with climate change through national trust funds that hand out donor money and can buy government securities.

• Revisiting global trade rules by easing limits on developing countries' ability to apply for subsidies for export promotion.

"Countries like China, India, Brazil and the rest of the developing world already command half of world gross product, and also a lot of the driving forces of the present growth comes from those economies, rather than the old developed world," Vos said. "So that puts challenges in terms of how we manage the global economy."

Secretary-General Ban Ki-moon's preface says the survey "points out promising directions for reform."

U.N. spokesman Martin Nesirky, however, said that does not necessarily mean Ban supports all the "many, many ideas that are out there" — including less dependence on the U.S. dollar.

http://news.yahoo.com/s/ap/20100629/ap_on_re_us/un_un_global_economic_crisis

LINKS - GLOBAL ECONOMY - GLOBAL CURRENCY ...

SDR should include Yuan ~ Nobel laureate, Mundell, calls for yuan's inclusion in IMF basket ...

Joseph Stiglitz : ‘IMF Rerserve Currency Can Be Phased in within a Year and Dominique Strauss 'Yuan May Enter IMF Kitty (Basket) to Evaluate SDR' ...