Thursday, December 31, 2009

The Icelandic Prime Minister Jóhanna Sigurðardóttir and her coalition government narrowly escaped a commitment to resign as a €3.8 billion bill to repay British and Dutch savers following the collapse of Icesave online banking passed. The vote margin was only three votes.

Only a matter of hours before the anticipated final vote, Wikileaks announced the disclosure of one of 23 documents suppressed by the Icelandic Minister of Finance: an apparent legal summary of meetings between Icelandic and EU representatives held in Brussels in November 2008. The leaked document discusses the then-assessed liabilities of Iceland at 60% of GDP, considerably higher than the reported 40% which repaying Icesave deposit holders entails.

Amongst the other details in the report is emphasis of the deep-seated anger of the Icelandic people at the situation around the financial collapse, particularly the UK’s use of anti-terrorism legislation in its approach to the country’s banks. Iceland’s interpretation of the situation, and its financial treaty obligations with the EU, considered foreign deposits lost through force majeure. All 27 EU members disagreed with Iceland’s interpretation and Peter Mandelson, although he resigned from the Barroso Commission in October, presented the legal position that Iceland could not pass legislation that did not ensure treaty-mandated minimum balance returns from failed Icelandic banks.

Leaked private communication from Ingibjörg Sólrún Gísladóttir, Iceland’s then-foreign minister, compared the potential liabilities the country faced with the reparations imposed on Germany by the Treaty of Versailles in the wake of World War I.

Three banks failed in the financial crisis: Kaupthing, Glitnir, and Landsbanki. As the list of creditors emerged it was found that, among others, UK councils had around £900 million with the banks. Landsbanki agreed to repay the majority of funds held, giving council depositors priority status. Approximately £200 million on deposit with Glitnir is at-risk; the bank has stated the councils will be treated equally with all other creditors seeing them likely to only recover 30% of the amount Glitnir held.

Kaupthing faces other difficulties. The UK’s Serious Fraud Office began an investigation earlier this month into the bank’s UK activities. At issue are allegations savers were misled into selecting one particular account type, plus suspicious financial activity suggesting substantial amounts were moved out of the bank in the days prior to its collapse.

At present, UK councils have received little more than ten percent of their over £900 million deposits. They are among over 8,500 creditors claiming a staggering total of £20 billion. The largest single claimant is the British Depositors’ and Investors’ Guarantee Fund seeking €5 billion, and, of some note, Formula One racing team Williams claiming around £10 million in unpaid sponsorship from Glitnir who took on the liability from the Icelandic buyers of Hamleys.

Debt to 84% government-owned Royal Bank of Scotland (RBS) by Glitnir stands at around £500 million; much of the actual debt written off in 2008 as RBS posted £24 billion losses. Further write-offs by the bank are expected to total less than £50 million.

Icelanders resented the discovery that fifteen senior ex-employees of Landsbanki claim €14 million between them, including a single claim of €2.7 million. Suspicion exists that the banks arranged substantial interest-free loans for various of their shareholders and executives.

Today’s announcement of the Icelandic government’s agreement to pay out €3.8 billion keeps their application for EU membership on-track, although each one of the country’s 320,000 citizens effectively faces a €12,000 debt.

Friday, July 22, 2005

The Peace Tax Seven, who are campaigning to have the 10 per cent of their taxes which go to Britain’s defence budget diverted to non-military uses, have had their case rejected by a High Court judge.

The judicial review was called for under article 9 of the European Convention on Human Rights which guarantees freedom ‘to manifest one’s religion or beliefs’ and which was made a part of British law in 1998. The Convention includes the right to conscientious objection and the campaigners claim that this gives them the right not to pay other people to go to war on their behalf.

Their statement to the court said: “We want to make a positive contribution to society by paying our tax in full. We object in conscience to paying others to kill on our behalf, but current tax policy forces us to do just that.”

The courtroom had to be enlarged to make room for supporters and the judge listened to the case for three hours.

Roy Prockter, an accountant and campaign member as well as a Quaker, said that the judge told them that “our case has no possibility of being resolved in the British courts”. According to the Guardian, the judge suggested they take the case to Strasbourg. Roy said that the members were going to take time for reflection as they awaited the written judgment from the judge.

Wednesday, February 1, 2006

Australia’s Foreign Minister, Alexander Downer, says the Federal government will contribute another 200 troops to assist the Dutch military in a former Taliban stronghold. Australia also pledges $150 million in aid for the reconstruction of Afghanistan.

“We have 190 at the moment, special forces, we’ve got another 110 going there to provide additional support for them with two helicopters, and this would be another 200 on top of that.” Mr Downer said.

Speaking outside a two-day international donors conference in London, Mr Downer said Australia’s commitment to Afghanistan was not as large as some countries, but it would nevertheless make a big difference.

He said Australia would build on the millions it has already spent in Afghanistan, with a new pledge of $150 million over 5 years through aid agency AusAID. Canberra has spent 110 million dollars in the war-torn country since the coalition invaded in late 2001.

Mr Downer joined world leaders in London for the signing of the Afghanistan Compact: “a road-map for international donors and the Government of Afghanistan to work together to rebuild the country into a stable and democratic state.”

Australia’s latest troop commitment, for a provincial reconstruction team in conjunction with the Netherlands, will take its total in Afghanistan to 500 troops. Downer said that the troops would probably be sent to take part in a proposed provincial reconstruction team with Dutch soldiers in the southern province of Uruzgan as early as July.

“July, August would be the pencilled-in planning at the moment, so that would involve Australia sending around 200 troops over and above the troops we already have in Afghanistan,” he said.

Mr Downer said Afghanistan still had a security problem but things were going in the right direction.

“We know how important it is for the new democratic government in Afghanistan and the new free and democratic processes there to survive, and every country that possibly can needs to give support to Afghanistan,” he said.

Under the compact, Afghanistan has pledged to meet targets in security, governance, rule of law and human rights, and economic and social development in return for military and financial aid from its international partners.

Australia also has about 900 troops in Iraq. About 450 of the soldiers are guarding Japanese forces in southern Samawa, which Japanese media reports said could end by May.

Downer said Australia would “wait and see” what Japan would do before deciding whether to bring its Samawa troops home or redeploy them elsewhere in Iraq.

Australia has already committed some 300 troops and support personnel to Afghanistan.

Monday, November 26, 2007

In the 18 months since Andrea Muizelaar was crowned winner of the reality TV series Canada’s Next Top Model, her life has been a complete whirlwind. From working in a dollar store in her hometown of Whitby, Ontario, to modeling haute couture in Toronto, she had reached her dream of becoming a true Top Model.

But at what cost? Unknown to casual television viewers, Muizelaar had been enveloped in the eating disorder anorexia nervosa, which inevitably became too much for her to bear. She gave up modeling and moved back to Whitby, where she sought treatment for her disorder, re-entered college, and now works at a bank. Where is she now? Happy and healthy, she says.

Recently Andrea Muizelaar sat down with Wikinews reporter Mike Halterman in a candid interview that stretched to nearly two hours, as she told all about her hopes and aspirations, her battle with anorexia, and just what really happened on Canada’s Next Top Model.

Tuesday, December 4, 2007

On the third day of the 2007 Taipei IT Month in Taiwan yesterday, notebook computers and desktop computers built with AMD’s Phenom processor and Intel Penryn processor openly battled for the consumer-market after each company launched their quad core processors.

Intel with partners like Acer, Genuine, ASUS, and Lenovo promoted their desktops with Core 2 Quad and notebooks with Centrino Duo, even though Intel didn’t plan to exhibit in IT Month. Intel’s Taiwan division is holding two road shows for DIY experts. One was on December 1 while the second will be on December 8.

AMD, on the other hand, put on a showcase for IT Month with a “Bee Movie“ booth-style exhibit at halls 1 and 3 of the Taipei World Trade Center. AMD’s subsidiary company ATI showcased HDMI and Full HD with a demonstration of a new graphic card named “Radeon HD2000”.

As the two rivals postured over factors like performance and high-definition, Wikinews reporter Rico Shen interviewed some of their partners. BenQ and Micro-Star International both said: “No matter whether the consumer chooses a computer with AMD or Intel, the consumer should consider it based on functionality and practically before purchasing. For example, some low-price notebook computers (EeePC, OLPC) were launched before the show because notebook computer manufacturers had considered and evaluated what a consumer really want. Sincerely, I recommend a consumer not be fooled by a its price but to consider its functionality first!”

Wednesday, December 21, 2011

Former Salt Lake City mayor and human rights activist Rocky Anderson took some time to discuss his 2012 U.S. presidential campaign and the newly-created Justice Party with Wikinews reporter William S. Saturn.

Anderson served as mayor of Salt Lake City for eight years (2000–2008) as a member of the Democratic Party. During his tenure, he enacted proposals to reduce the city’s carbon emissions, reformed its criminal justice system, and positioned it as a leading sanctuary for refugees. After leaving office, Anderson grew critical of the Democratic Party’s failure to push for impeachment against President George W. Bush, and for not reversing policies on torture, taxes, and defense spending. He left the party earlier this year and announced that he would form a Third party.

Anderson officially established the Justice Party last week during a press conference in Washington D.C.. He proclaimed “We the people are powerful enough to end the perverse government-to-the-highest-bidder system sustained by the two dominant parties…We are here today for the sake of justice — social justice, environmental justice and economic justice.” The party promotes campaign finance reform and is attempting to appeal to the Occupy Wall Street movement. It is currently working on ballot access efforts, and will hold a Founding Convention in February 2012 in Salt Lake City.

Among other issues, Anderson discussed climate change, health care, education, and civil liberties. He detailed his successes as mayor of Salt Lake City, stressed the importance of executive experience, and expressed his views on President Barack Obama and some of the Republican Party presidential candidates. He spoke in depth about former Massachusetts governor Mitt Romney, with whom he worked during the 2002 Winter Olympics, and fellow Utahan, former governor and U.S. ambassador to China Jon Huntsman, Jr..