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Generational Dynamics Web Log for 8-Sep-2011
8-Sep-11 World View -- Thousands of surface-to-air missiles missing from Libya warehouses

Web Log - September, 2011

8-Sep-11 World View -- Thousands of surface-to-air missiles missing from Libya warehouses

Germany's constitutional court approves bailouts

This morning's key headlines from GenerationalDynamics.com.

* Thousands of surface-to-air missiles missing from Libya warehouses
* Bombing of Delhi, India, courthouse kills 12
* Germany's constitutional court approves bailouts
* Switzerland's devaluation move could trigger currency war
* Azerbaijanis protest drying up of Iran's Lake Urmiyya

Thousands of surface-to-air missiles missing from Libya warehouses

Large mortar shells sit in the open in unguarded weapons depots in Tripoli(AP)

Large mortar shells sit in the open in unguarded weapons depots in Tripoli(AP)

Human Rights Watch has inspected weapons storage sites across Libya and discovered that vast amounts of weaponry have been looted. The weaponry includes tens of thousands of surface-to-air missiles, including Russia's sophisticated SA-24 missile that Iran has been trying to acquire. These missiles are a threat to both civilian and military aircraft. In addition, massive numbers of artillery rounds and tank rounds are missing. CS Monitor

Bombing of Delhi, India, courthouse kills 12

Authorities in India are being harshly criticized for the lack of security that allowed two terrorist bombings of the same building in little over three months. Harkat-ul-Jihadi Islami (HuJi), a Pakistani terrorist group, is claiming responsibility for the Wednesday bombing of the Delhi Courthouse that killed 12 people. A previous bombing of the same courthouse occurred on May 25, but apparently no action was taken to provide better security, except to hold a meeting every two weeks to discuss the problem. Indian Express and India Times

Germany's constitutional court approves bailouts

As expected Germany's Verfassungsgericht (constitutional court) ruled on Wednesday that Germany's contribution to the bailout fund that provided money to Greece, Ireland and Portugal did not violate the constitution. Furthermore, the court will not require that Germany's Bundestag (parliament) approve future bailouts. Instead, the court ruled that future bailouts would require the approval of the parliament's budget committee. The ruling gave a political boost to Chancellor Angela Merkel, who said that Germany must remain united with the rest of Europe. "The euro guarantees a unified Europe," she said. "If the euro collapses, Europe collapses." Deutsche-Welle

A court ruling striking down the bailouts would have triggered a national and international crisis. A BBC analyst that I heard on Wednesday said that most people now believe that the euro currency's days are numbered. Even though the German public is increasingly opposed to bailing out Greece and other "profligate" countries, German leaders want to be able to say that they did everything possible to save the euro, but that in the end the euro collapse because of Greece or some other country. (Incidentally, the same is true in Washington, as the Obama administration and the Republicans jockey to make sure that the other part gets the blame for what's coming.)

Switzerland's devaluation move could trigger currency war

So far, during the crisis of the last few years, most of the world has avoided the tactics of the 1930s that caused a downward spiral, such as enacting high tariffs and devaluing currencies. Most analysts feel that Switzerland's act, <#stdurl reported yesterday, to prevent further strengthening of the Swiss Franc, was justified. But this is the first such act, and it's now possible that Japan and other countries will follow suit, triggering a currency war. Independent

Azerbaijanis protest drying up of Iran's Lake Urmiyya

A tire sits on a dried-up section of Lake Urmiyya in Iran

A tire sits on a dried-up section of Lake Urmiyya in Iran

Ethnic Azerbaijanis in Iran have begun demanding urgent measures by Iran's government to save the Urmiyya Lake (the third largest salt lake in the world and a special UNESCO biological reserve), which has dried up by 70 percent as a result of the construction of dams, bridges and irrigation canals. Jamestown

(Comments: For reader comments, questions and discussion, see the 8-Sep-11 World View -- Thousands of surface-to-air missiles missing from Libya warehouses thread of the Generational Dynamics forum. Comments may be posted anonymously.) (8-Sep-2011) Permanent Link
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Generational Dynamics Web Log for 8-Sep-2011 8-Sep-11 World View -- Thousands of surface-to-air missiles missing from Libya warehouses

Thousands of surface-to-air missiles missing from Libya warehouses

Bombing of Delhi, India, courthouse kills 12

Germany's constitutional court approves bailouts

Switzerland's devaluation move could trigger currency war

Azerbaijanis protest drying up of Iran's Lake Urmiyya

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Generational Dynamics Web Log for 8-Sep-2011
8-Sep-11 World View -- Thousands of surface-to-air missiles missing from Libya warehouses