Crisis Spreads in Europe: Debt Downgrades in Portugal, Greece Sow Fear of Contagion; World Markets Hit
THE WALL STREET JOURNAL: Europe's hopes of containing Greece's credit crisis dimmed as the country's debt woes spread to Portugal, sparking a selloff in markets across the globe and testing the European Union's ability to protect its common currency.

The euro tumbled to its lowest point in a year against the dollar after Standard & Poor's Ratings Services cut Portugal's credit rating two notches and downgraded Greece's debt to "junk" territory, a first for a euro-zone member. The move is bound to worsen Greece's already dire fiscal situation and hamper a recovery. The news sent the bond yields in both countries soaring, a sign of distress.

The Dow Jones Industrial Average fell 213.04 points, or 1.9%, to 10991.99, suffering its worst decline in both point and percentage terms since Feb. 4. The pan-European Stoxx Europe 600 index tumbled 3.1%. As investors opted for the safety of bonds, the yield on Germany's 10-year benchmark was pushed down to 2.99%, moving below 3% for the first time in more than a year. Yields on U.S. Treasurys also dropped as investors bought.

Asian stock markets tumbled in early trading Wednesday on renewed worries about Greece's problems, with Japan's Nikkei 225 stock average shedding 2.8%.

The force of the market reaction to the downgrades suggests that the EU's fraught, months-long effort to stem Greece's debt crisis has all but failed. Portugal's stagnant economy has been viewed as among the weakest in the euro zone, although its deficit and debt levels aren't as high as Greece's. The debt rating downgrade on Tuesday, to A-minus from A-plus, fueled concerns that Portugal is on the same trajectory as its southern neighbor, despite its more solid fiscal position.

Greece's own turmoil was triggered in part by a similar ratings downgrade in December amid growing concerns about its debt. >>> Matthew Karnitschnig, Stephen Fidler and Tom Lauricella | Tuesday, April 27, 2010



TIMES ONLINE: ‘Greece infection’ spreads as stricken nation’s debt is rated junk: Greece plunged deeper into financial turmoil last night after its government bonds were rated as junk by financial markets. The Portuguese government debt also took a hammering after panic spread that a Mediterranean virus of insolvency and bad debts would infect the rest of Europe. >>> Carl Mortished and David Wighton | Wednesday, April 28, 2010

THE TELEGRAPH: Greece acts to stop speculators as debt crisis escalates: Greece has moved to stem panic in the country and stop speculators taking advantage of its escalating debt crisis. >>> Malcolm Moore in Shanghai | Wednesday, April 28, 2010

Papandreou ruft Griechen zur Geschlossenheit auf: Griechenland in «einer der schwierigsten Phasen seiner Geschichte»
NZZ ONLINE: In einer emotionalen Rede hat Griechenlands Ministerpräsident Papandreou seine Landsleute zum Zusammenhalt aufgerufen: «Griechenland geht durch eine der schwierigsten Phasen seiner Geschichte», sagte er am Dienstag in Athen.

«Die Beschlüsse, die jetzt gefasst werden müssen, werden von schwerwiegender Bedeutung auch für die kommenden Generationen sein», sagte Papandreou vor der Parlamentsgruppe seiner Panhellenischen Sozialistischen Bewegung (Pasok) weiter. «Lasst uns unser Vaterland neu beleben. Jetzt oder nie», sagte er in der Ansprache, die vom Fernsehen übertragen wurde. >>> sda/dpa | Mittwoch, 28. April 2010

WELT ONLINE: IWF erwägt zusätzliche Milliarden für Griechen: Der Internationale Währungsfonds (IWF) könnte sein Hilfsprogramm für Griechenland um zehn Milliarden aufstocken. Bislang war der IWF bereit, dem Land 15 Milliarden an Hilfsgeldern zu geben. Über ihre Hilfe will die Bundesregierung rasch entscheiden. Doch Ifo-Chef Sinn warnt: Die Griechen werden das Geld nicht zurückzahlen können. >>> dpa/dma | Mittwoch, 28. April 2010

LE TEMPS: Le supplice grec : Les taux d’obligations grecs sur 10 ans dépassaient les 11% à 11h00 ce matin, un nouveau record historique: la situation devient très difficile pour Athènes. Selon le Financial Times, le FMI va débloquer 10 milliards de plus que prévu pour sortir Athènes de la zone de danger. L’UE a aussi annoncé un sommet exceptionnel de la zone euro autour du 10 mai >>> Agences | Mercredi 28 Avril 2010

LE TEMPS: La rigidité d’Angela Merkel fustigée : La presse allemande estime que la gestion du dossier grec tend à isoler Berlin au sein de l’Union européenne >>> Nathalie Versieux | Mercredi 28 Avril 2010

Nick Clegg: I Want to Be Prime Minister
TIMES ONLINE: Nick Clegg has told The Times that the Liberal Democrats can supplant Labour and has stated that his ambition is to become prime minister.

He insists that the Liberal Democrats have become the leading progressive force at the ballot box. The latest Populus poll for The Times shows the party still in second place ahead of Labour with only eight days to go.

Mr Clegg believes that the May 6 vote is now a two-horse race between “two competing pitches for change” — the Conservatives and Liberal Democrats. He says that Liberalism has replaced “Labour statism” as the driving argument of the Centre Left.

And whoever wins, he insists that the momentum for reform of the political system is unstoppable. “Reform is now unavoidable. You can’t duck it.”

In an interview yesterday, Mr Clegg insisted that he was not being arrogant or presumptuous about his chances, but he had set his sights high. In a febrile campaign that is changing by the day, he said that it was still possible that his party could poll more votes than either the Conservatives or Labour.

“I think the Lib Dems have a brilliant, brilliant team and I would love to see us in government and, of course, I want to be prime minister,” he said. He made plain during the lengthy interview that his bottom line in any negotiations with David Cameron in a hung Parliament would be electoral reform.

Although he ruled out dealing with Gordon Brown if Labour came third in the popular vote, he did not rule out working with Labour, saying that he would have a moral obligation to provide “good, stable government”. >>> Roland Watson and James Harding | Wednesday, April 28, 2010

David Cameron on the Campaign Trail

Will Israel Act Against Iran?

U.S.-born Terror Suspect on Video

Nick Clegg redessine la carte électorale britannique
Nick Clegg,en visite électorale, lundi à Édimbourg, en Ecosse. Les intentions de vote pour les libéraux-démocrates aux législatives du 6 mai se confirment dans l'ensemble du pays. Photo : Le Figaro
LE FIGARO: Ce sont les travaillistes qui ont le plus perdu depuis la montée en puissance des libéraux-démocrates.

Le leader libéral-démocrate Nick Clegg n'en finit pas de rebattre les cartes de la politique britannique avant les législatives du 6 mai. Au départ, tous les experts pensaient que son succès lors du premier débat télévisé allait surtout priver David Cameron et les conservateurs de sièges précieux pour obtenir une majorité absolue au Parlement, faisant le jeu du premier ministre travailliste Gordon Brown.

Passé les premiers moments de panique, l'équipe de Cameron a réalisé que la montée des libéraux-démocrates a surtout provoqué une chute brutale du Labour. Une vingtaine d'anciens bastions travaillistes, auparavant considérés comme imprenables, pourraient finalement basculer à droite.

Au lieu de s'attaquer à des sièges tenus par les libéraux-démocrates dans le sud rural de l'Angleterre, qui vont être très difficiles à remporter après les performances de Clegg, les conservateurs vont viser 20 nouvelles circonscriptions tenues par la gauche et fragilisées par les progrès des LibDems. >>> Par Cyrille Vanlerberghe | Mardi 27 Avril 2010

Nach Griechenland jetzt Portugal? : Standard & Poor's stuft Kreditwürdigkeit herab - Griechenland mit «Junk»-Status
NZZ ONLINE: Nach dem vom Staatsbankrott bedrohten Griechenland gerät auch Portugal weiter unter Druck. Die Ratingagentur Standard & Poor's stufte die Kreditwürdigkeit des Landes auf A- herab. Portugal stehe «erweiterten Risiken» gegenüber, hiess es zur Begründung.

Angesichts der dramatischen Schuldenkrise in Griechenland wächst in EU-Kreisen die Befürchtung, dass demnächst auch Portugal sein Defizit nicht mehr in den Griff bekommen könnte. Die Ratingagentur Standard & Poor's hat die Kreditwürdigkeit Portugals am Dienstag auf A- herabgestuft. Damit reagiere man auf «die erweiterten Risiken, denen Portugal gegenübersteht», hiess es in London.

Portugal gilt mit einem Haushaltsdefizit von 9,4 Prozent des Bruttoinlandprodukts (BIP) nach Griechenland als eines der von der Wirtschaftskrise am meisten gefährdeten Mitglieder der Eurozone. >>> ddp | Dienstag, 27. April 2010

German Tabloids Campaign for Greece to Leave the Euro
Public transport employees on strike demonstrate outside the Greek Finance ministry in Athens. Photo: Times ONline
TIMES ONLINE: The crisis in the eurozone turned today into an extraordinary duel between Germany, Europe’s largest economy, and Greece, the euro’s weakest link.

A populist campaign in Germany, gathering force before regional elections on May 9, is urging Greece to leave the euro of its own free will rather than place a further burden on its northern partner.

“Why are we paying the luxury pensions of the Greeks?” asked the front-page splash headline of the mass circulation Bild. “If Athens goes broke then German and EU aid will flow into the Greek pension funds.”

German tabloid newspapers have sent teams to the country to hand out old drachma notes and encourage them to abandon the euro. One editorial said Greece had tricked its way into the euro. “With all respect to the oldest democracy in the world: you don’t trust someone who has lied to you once before.”

The Greeks, in turn, are blaming Germany for forcing unacceptably tough conditions on them. Civil servants today became the latest to join the rolling protest against Prime Minister Papandreou’s outstanding measures. Each demonstration lampoons Angela Merkel, the German Chancellor, and bemoans the lack of solidarity from the northern eurozone members. >>> Roger Boyes, Berlin | Tuesday, April 27, 2010

Apple Sued Over Touch-screen Technology
TIMES ONLINE: The sale of Apple's iPhone and iPad in the US is under threat after the US International Trade Commission initiated a formal investigation into the company for allegedly infringing a patent covering multi-touch technology.

The ITC, which has the power to ban the import and sale of products, said it was responding to a request from the Taiwanese touchscreen maker Elan Microelectronics, which has a patent for technology that detects the simultaneous presence of two or more fingers on a touchscreen or touchpad.

This multi-touch technology is at the heart of many Apple products, including the new iPad, the iPhone and iPod Touch, which generate billions of dollars in sales.

Elan, which successfully settled a similar lawsuit against touchpad technology company Synaptics in 2008, accuses Apple of "knowingly and deliberately" infringing the patent. The semiconductor design company is also suing Apple in California, alleging that Apple is infringing two of its multi-touch patents.

An eventual victory by Elan could lead to an exclusion order barring the US import of infringing Apple products. A cease and desist order could also be granted to prevent Apple from selling any of the products that have already been imported.

Analysts said it is likely that Elan is seeking a licensing agreement with Apple for the multi-touch technology. >>> Mike Harvey | Tuesday, April 27, 2010

US Accuses Iran and Syria of Arming Hizbollah with New Rockets and Missiles
THE TELEGRAPH: Robert Gates, the US Defence Secretary, has accused Iran and Syria of arming Hizbollah with increasingly sophisticated rockets and missiles, saying the militia's arsenal undermined stability in the region.



"Syria and Iran are providing Hezbollah with rockets and missiles of ever-increasing capability," he said at a joint news conference with his Israeli counterpart, Ehud Barak.

"And we're at a point now, where Hizbollah has far more rockets and missiles than most governments in the world, and this is obviously destabilizing for the whole region and we're watching it very carefully."

Mr Gates did not say if Syria was supplying Hizbollah with Scud missiles as Israel has alleged. Mr Barak voiced serious concern over Syria's support for Hizbollah but did not repeat the allegation that it was providing Scuds to the Lebanese Shia militia. Damascus has vehemently rejected the charge.

Mr Barak said Syria was arming Hezbollah with "weapons systems that can turn or disrupt the very delicate balance in Lebanon", adding "we do not intend to provoke any kind of a major collision in Lebanon or vis-a-vis Syria". >>> Alex Spillius in Washington | Wednesday, April 28, 2010

Ousted Kyrgyzstan President Charged with 'Mass Killings'
THE TELEGRAPH: Kyrgyzstan's interim government has charged the country's ousted president Kurmanbek Bakiyev with "mass killing" and has formally prepared an extradition request.

Belarus took in Mr Bakiyev last week after he fled in the aftermath of a bloody revolt.

"The former president of Kyrgyzstan, Kurmanbek Bakiyev, has been charged with mass killing," Azimbek Beknazarov, an interim vice premier in charge of security, said in the capital Bishkek. The extradition request would be sent "within days", he added.

He might also be charged with abuse of power in an official capacity, Mr Beknazarov told reporters. >>> | Tuesday, April 27, 2010

Cruel Is As Cruel Does
THE TELEGRAPH: An advertising campaign mocking the 5ft 5 ins stature of President Nicolas Sarkozy has caused a scandal in France.

The posters by car hire firm, Sixt, urge customers to rent a small Citroen C3 hatchback, with the slogan, "Be like Madame Bruni, take a small French model".

The height difference between the 5ft 10 ins tall French First Lady and her husband has long been a matter of some discussion.

Mrs Bruni-Sarkozy, 43, is regularly photographed wearing flat soles to appear shorter beside him, while Mr Sarkozy, 55, wears footwear to make himself appear taller.

Fun is also frequently poked at the President for standing on a footstool behind podiums known as a "Sarkozy step" when making speeches.

The couple have sued two separate companies in the past for using their images in ad campaigns without permission. Car Advert Ridicules Nicolas Sarkozy's Height >>> | Tuesday, April 27, 2010

Agency Lowers Greek Debt Rating as Crisis Deepens
THE NEW YORK TIMES: FRANKFURT — Europe’s debt crisis deepened still further Tuesday after the ratings agency Standard & Poor’s downgraded Greek and Portuguese debt, investors sold off government bonds amid fears of a default, and workers in those Mediterranean nations took to the streets to protest austerity measures.

S.&P. downgraded Greek government debt to junk status, saying in a statement, “Greece’s economic and fiscal prospects lead us to conclude that the sovereign’s creditworthiness is no longer compatible with an investment-grade rating.”

The ratings agency also downgraded Portuguese government bonds, but they remain well above junk status.

“This thing is getting more and more urgent and tense,” said Robert Barrie, head of European economics at Credit Suisse in London. He predicted, though, that markets could settle down once Greece manages to refinance €8.5 billion, or $11.2 billion, in bonds that mature in May. “But it’s anything but calm at the moment,” he added.

As transport workers in both Portugal and Greece went on strike against austerity measures Tuesday, the risk premium on Greece’s bonds set new records even before S.&P. announced the downgrades.

A European Central Bank official warned all euro-zone countries to cut their soaring budget deficits and suggested that Greece may need to impose even harsher austerity measures to bring its debt under control. >>> Jack Ewing | Tuesday, April 27, 2010

Violent Extremists Calling Fighters to Somalia


CNN: Mogadishu, Somalia -- In Somalia's enduring chaos, militant groups have for years come and gone. Today's most powerful -- Al Shabaab -- are much more menacing, say those in Mogadishu.

In Arabic, Al Shabaab means 'the youth', but it is too far-reaching to be just a rabble of youngsters. It controls much of central and southern Somalia and large parts of the capital Mogadishu.

And after years of pledging allegiance to al Qaeda, Al Shabaab formalized the relationship in February. Since then, the Somali government says there's been an influx of foreign fighters.

"With regard to the fighting that's going on in Afghanistan, in Pakistan and in Yemen, some people are looking for a place to hide and Somalia is a good candidate for that," said Somali President Sheikh Sharif Sheikh Ahmed, who leads the weak, U.N.-backed Transitional Federal Government (TFG).

Ahmed was once a senior, moderate figure in the Union of Islamic Courts -- an alliance that included Al Shabaab and which held power in Somalia for six months in 2006 before being overthrown by Ethiopian forces.

The Ethiopians remained until early 2009 when the TFG took tentative control, clinging to a small part of Mogadishu, and protected by African Union (AU) peacekeepers mainly from Uganda and Burundi.

A quiet figure, President Ahmed sits in his office at the palace grounds while government troops outside fire warning shots to prevent people from venturing too close.

"We used to estimate the number of foreign fighters to be between 800 and 1,200 but that number seems to have been growing," he said.

Al Shabaab has reached out to Somalis living in the West, radicalizing young Muslims via the Internet and encouraging them to move back to the country to join the Jihad. >>> Jane Ferguson, for CNN | Tuesday, April 27, 2010

Bankensektor: Republikaner bremsen Obamas Finanzmarktreform
ZEIT ONLINE: Die Pläne von US-Präsident Obama zur Regulierung des Finanzmarktes sind vorerst gestoppt: Die Republikaner stimmten im Senat gegen den Beginn des Gesetzgebungsverfahrens.

Die Reform der US-Finanzmärkte verzögert sich: Die Demokraten bekamen im Senat nicht die nötigen 60 Stimmen zusammen, um die Debatte über ihren entsprechenden Gesetzentwurf aufzunehmen. Allerdings kam das Ergebnis nicht überraschend – die Abstimmung galt von vornherein als eine Art Zwischenschritt. Denn aktuell laufen noch die Verhandlungen zwischen Demokraten und Republikanern über eine Kompromissformel. Bereits in dieser Woche könnte die Reform wieder Thema im Senat sein.

Gleichwohl zeigte sich US-Präsident Barack Obama in einer Erklärung "tief enttäuscht" vom Votum der Senatoren. Er griff die oppositionellen Republikaner scharf an, die geschlossen gegen die Eröffnung der Debatte stimmten. Diese verzögerten das Verfahren, um "hinter verschlossenen Türen, wo die Lobbyisten der Finanzwelt die Reform schwächen oder sogar kaputtmachen können, die Diskussionen weiter zu führen", erklärte er. Die Reform gehört zu Obamas wichtigsten innenpolitischen Vorhaben. >>> Zeit Online, dpa, AFP | Dienstag, 27. April 2010

Manuel Noriega Sent to France for Fresh Trial
Manuel Noriega. Photo: Times Online
TIMES ONLINE: Manuel Noriega, the former military dictator of Panama who was deposed by US troops, was extradited to France on money laundering charges after 20 years in US custody.

Hillary Clinton, the US Secretary of State, signed the extradition order two years after the general completed a US jail sentence for drug racketeering. Noriega, 76, was due to arrive in Paris today from Miami, Florida.

He was arrested in 1990 after the US ended years of secret co-operation by invading Panama and toppling the dictatorship. He was taken to Miami where he was convicted of drug trafficking, racketeering and conspiracy.

While in custody he was convicted in absentia in France on charges of laundering cocaine profits through European banks. At the end of his sentence in the US he stayed in a Florida jail to fight extradition.

Noriega, whose pock-marked complexion earned him the name Pineapple Face, will go on trial in France where he has been found guilty of using drug money to buy three luxury apartments. >>> Nico Hines in Washington | Tuesday, April 27, 2010

Christmas Day Bomber Shown Shooting Union Jack in Training Video

TIMES ONLINE: A video showing the failed Christmas Day plane bomber Umar Farouk Abdulmutallab training with al-Qaeda in Yemen has been broadcast on America’s ABC television.

The video, which shows the 23-year-old Nigerian and other militants shooting at targets that include a Union Jack, a Jewish star and one labelled UN, appears to support Mr Abdulmutallab’s statements to American intelligence that there are “others like me” training in the Yemen to carry out attacks aginst Western targets.

Mr Abdulmutallab is charged with attempting to bring down a Detroit bound airliner on Christams Day by detonating explosives hidden in his underwear. He has pleaded not guilty to the charges but has been cooperating with US intelligence agencies interviewing him, discussing his contacts in Yemen and providing intelligence in multiple terrorism investigations, according to US officials.

He is shown on the tape making an apparent martyrdom statement in Arabic, justifying his actions as part of a battle against: “the enemy is in your lands with their armies, the Jews and the Christians and their agents.”

He also reads several passages from the Koran, adding “God said if you do not fight back, He will punish you and replace you.”
According to ABC News, which obtained and broadcast the tape on Monday, the video was produced by al-Qaeda in the Arabian Peninsula, or AQAP. >>> Times Online | Tuesday, April 27, 2010

Shell Drafted Letter Tony Blair Sent to Gaddafi While Prime Minister
Tony Blair with Colonel Gaddafi. Photo: Times Online
TIMES ONLINE: Tony Blair lobbied Colonel Muammar Gaddafi on behalf of Shell in a letter written for him in draft form by the oil company, documents obtained by The Times reveal.

The correspondence, written while Mr Blair was Prime Minister, bears a striking resemblance to a briefing note by Royal Dutch Shell weeks earlier promoting a $500 million (£325 million) deal it was trying to clinch in Libya.

While it is common for government ministers to champion British interests abroad, Shell’s draft reveals an unusual assurance in its ability to dictate Mr Blair’s conversation with the Libyan leader. It also raises questions about the motives behind Britain’s improved relations with Libya and the subsequent release of Abdul Baset Ali al-Megrahi, the Lockerbie bomber. Lockerbie victims have claimed that the Government paved the way for al-Megrahi’s release as part of a deal with Libya to give British companies access to Libya’s lucrative oil and gas industry.

In the draft, Shell tells Mr Blair to discuss positive progress on weapons of mass destruction as well as the investigation into the murder of WPC Yvonne Fletcher outside the Libyan Embassy in London in 1984. >>> David Robertson, Business Correspondent | Tuesday, April 27, 2010

Mistresses Are French Way of Life Says Accused Polygamist
THE TELEGRAPH: A Muslim Frenchman accused of polygamy defended himself on Monday by saying that keeping mistresses was the French way of life.

Brice Hortefeux, the French interior minister, said the citizenship of Lies Hebbadj should be revoked if allegations that he had four wives proved to be true.

But the Algerian-born butcher hit back, saying: "If we are stripped of nationality, for having mistresses, there would be a lot of French people stripped of nationality.

"As far as I know, mistresses are not forbidden, neither in France, nor in Islam."

Mr Hebbadj did not specify whether he lives under the same roof with the various women in his life, although French media reports have quoted neighbours who claimed he moved between several houses.

Mr Hebbadj is suspected of profiting from state subsidies for single women provided to each of the wives. >>> | Tuesday, April 27, 2010

Hortefeux, l'homme (trop) pressé
leJDD.fr: Loin de s'estomper, la polémique lancée vendredi soir par Brice Hortefeux sur le cas de Liès Hebbadj pourrait se retourner contre son auteur.

Brice Hortefeux a peut-être accéléré le calendrier du gouvernement. Photo : leJDD.fr
Brice Hortefeux est-il allé trop vite? En annonçant dès vendredi soir vouloir déchoir de sa nationalité française le sulfureux Liès Hebbadj, le ministre de l'Intérieur a provoqué une agitation certaine dans les rangs politiques. A gauche, bien sûr, où il est attaqué sur le fond de son initiative, mais également à droite. Dimanche soir, puis lundi matin, Eric Besson a tenté de ne pas se brûler les doigts en réceptionnant la patate chaude. Admettant qu'il était délicat, en l'espèce, de prouver que le jeune Nantais est effectivement polygame - et renvoyant ce dossier à la justice - le ministre de l'Immigration et de l'Identité nationale a trouvé comme seule porte de sortie l'idée d'une "adaptation législative" sur les critères permettant d'aboutir à une déchéance de nationalité. Au risque de rajouter de la confusion à la confusion, dans un contexte politique, voire social, déjà très tendu sur la question du voile intégral. C'est d'ailleurs dans une ambiance alourdie - au moins trois attaques contre la communauté musulmane ont été recensés ce lundi à Istres et Marseille- que François Fillon a insisté "sur la nécessité d'éviter les amalgames et les préjugés qui donnent une image déformée de l'islam de France". Le projet de loi en conseil des ministres le 19 mai >>> Nicolas Moscovici - leJDD.fr | Lundi 26 Avril 2010

LE FIGARO: Face à la polygamie, Besson prêt à faire évoluer la loi : Pour le ministre de l'Immigration, les personnes qui «ne respectent pas les valeurs de la République» ne méritent pas de conserver la nationalité française. >>> Par Cécilia Gabizon | Mardi 27 Avril 2010

Lien en relation avec les articles:

TRIBUNE DE GENÈVE: Affaire du niqab: "Avoir des maîtresses n'est pas interdit!" >>> AFP | Lundi 26 Avril 2010

Related:

TIMES ONLINE: Muslim butcher's many wives 'no worse than French mistresses' >>> Charles Bremner, Paris | Tuesday, April 27, 2010