Word: centralism
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Throwing a lifeline to Europe's rapidly sinking economy, the European Central Bank today announced the deepest interest rate cut in its 10-year history, a clear sign that it has made rescuing the economy its top priority...
...difference in today's decision however was not just the size of the cut, but the message it sends about the central bank's thinking. Though the ECB remains more optimistic about the economic outlook than many economists, it seems finally to be coming to terms with economic reality. Just a few weeks ago, ECB president Jean-Claude Trichet justified the central bank's moderation in cutting rates by warning about continued high inflation. But speaking to reporters in Brussels, his emphasis was altogether different. "Overall, since our last meeting, evidence that inflation pressures are diminishing has increased," Trichet said...
...acrimonious exchanges between Maliki and the Kurds are rooted in the economic and territorial ambitions of both parties, and they threaten to widen the broadening Arab-Kurd schism. Maliki's recent call to amend the constitution to beef up the central government's powers at the expense of Iraq's 18 provinces did not spare the semiautonomous three-province Kurdish region in the north. It has not only stoked tensions with the independence-minded Kurds but has also drawn fire from his Shi'ite coalition allies in the Supreme Islamic Iraqi Council, who want to set up a similar semiautonomous...
...lambasted the Kurdish regional government for unilaterally signing oil deals with international companies and cutting Baghdad out of the loop, as well as opening representative offices overseas. He has also pushed back against the Kurds' attempts to extend their military presence into territory south of their regional border. "The central government thinks the Kurdish regional government behaves like a state, and the Kurds think Maliki wants to flex his muscles and go back to a strong central government with him as the strongman," says Mahmoud Othman, an independent Kurdish parliamentarian...
...that, curiously, the city's long history of terror bombings and violence never has before. However, lost in the eulogies to those trapped within the Taj Mahal hotel and the Oberoi-Trident, are the 56 people shot on the same night at the Chhatrapati Shivaji Terminus, a central rail station for the transiting working class. It was the highest death toll for a single site during the three days of chaos. Many of the dead there were laborers. "For whom is the [Taj Mahal hotel] iconic?" asks Gulan Kripalani, the executive director of the Mumbai-based NGO, Citizens For Peace...