Friday, November 28, 2008

Germany Reaches Kyoto Emissions Commitments

A new study shows that Germany has already reduced greenhouse gas emissions to the level pledged in the Kyoto Protocol. But a greater reliance on coal-fired power plants may soon reverse the trend.

When it comes to global warming and concurrent efforts to reduce the emissions of greenhouse gases, Germany has always tried to present itself as a leader. New data set to be released today shows that the country has earned its bragging rights.

According to the most recent numbers collected by the "national emissions inventory," which keeps tabs on Germany's CO2 emissions, the country has already lowered its emissions to the level set out by the Kyoto Protocol agreement. In 1997, Germany pledged to reduce its greenhouse gas emissions by 21 percent by 2012 relative to 1990 levels. New numbers indicate that the country has managed to reduce emissions by 22.4 percent, according to the Süddeutsche Zeitung which saw the report before it was published… Spiegel


Sunday, November 16, 2008

Financial Crisis ▪ World Leaders (G20) Urged Fast Action

World leaders pledged rapid action, November 15, in Washington to rescue a weakening global economy from the worst financial crisis in over 70 years and agreed to give emerging nations more say in running financial affairs.

The Group of 20 leaders from major industrialized and developing countries set out plans to toughen oversight for major global banks, study limits on banker pay and try for a breakthrough by year end in global trade talks - all part of a roadmap to rebuild a financial system crippled by the credit crisis. […]

In what portends a major shift in the global balance of economic power, the G20 agreed to a place for emerging market economies on the Financial Stability Forum, where top bank regulators evaluate banking and market risk. […]

In the medium term, the G20 also opened the door to the big prize - more seats for developing countries at the IMF and World Bank. […]

Advisers designated by U.S. President-elect
Barack Obama to meet with dignitaries on the sidelines of the G20 summit said he supports a coordinated response to the global financial crisis and is ready to work with member countries on improving the financial system when he takes office. […] Reuters (excerpts)

Thursday, November 13, 2008

Global First Aid by Nobel Economists

New Mindset Required

Five winners of the Nobel Prize for economics share their views on what the future global finance order should look like… Spiegel

During six years Haplif occasionally referred, e.g., in particular to Joseph E. Stiglitz.

Wednesday, November 5, 2008

Barack Obama Won Historic US Election

The announcement came, November 4, at 10pm Chicago time. Barack Obama was declared America’s next President. The vast sea of humanity packed into the city’s Grant Park erupted in a deafening roar that must have been audible ten miles out in Lake Michigan.

Tens of thousands of Obama supporters cheered and whooped themselves hoarse. People wept, hugged and embraced. They waved flags, and erupted in chants of “Oh-bah-mah” and “yes we can!”... Times Online

OBAMA'S VICTORY SPEECH (Spiegel) + video (YouTube)