BEACON » EU http://www.cosmizen.com Business Economy And Commerce Online News Fri, 11 Apr 2014 08:36:40 +0000 en-US hourly 1 http://wordpress.org/?v=3.8.2 EU Embarrassed by Report on Exports of Torture Equipment http://www.cosmizen.com/2010/03/eu-embarrassed-by-report-on-exports-of-torture-equipment/ http://www.cosmizen.com/2010/03/eu-embarrassed-by-report-on-exports-of-torture-equipment/#comments Thu, 18 Mar 2010 14:47:57 +0000 http://www.cosmizen.com/?p=795 Continue reading]]> The EU which insists on stringent enforcement of human rights in every trade deal has found itself cornered by the recent jointly released report by Amnesty International and the Omega Research Foundation. The report titled ‘From Words to Deeds’ has arrayed clear evidence against several European firms engaged in banned torture equipment sales.

It has been reported that a large number of torture instruments including fixed wall restraints, metal ‘thumb cuffs’, and electroshock ‘sleeves’ and ‘cuffs’ which could deliver 50,000V shocks were widely traded with the tacit or explicit backing from some governments of the EU. Furthermore, these commercial exchanges have violated the 2006 Act of a global ban on the international trade of policing and security equipment designed for torture and ill-treatment.

According to the Amnesty International’s press release, the organization along with its research partner would be informing the EU administration to insulate legislative loopholes highlighted in the report, and the EU member states to adequately implement and enforce the regulation. Amnesty International’s UK arms program director Oliver Sprague lambasted the EU for condoning the sales of inhumane torture equipment, and also for using double standards in trade deals.

Interestingly, the accomplices in this illegal trade have flouted with impunity the Regulation that has been introduced after a decade of campaigning by human rights organizations. Nicolas Beger, Director of Amnesty International’s EU office blamed the EU for the failure of proper implementation or enforcement of the four year old legislation.

As per the report, between 2006 and 2009, the Czech Republic issued export licenses covering shackles, electric shock weapons and chemical sprays to six countries where police and security forces had a history of using such equipment for torture and other ill-treatment. Likewise, Germany issued similar licenses to three such countries for exports of foot-chains and chemical sprays.

Besides, law enforcement equipment suppliers in Italy and Spain are found to have encouraged the sale 50,000V electric shock ‘cuffs’ or ‘sleeves’ for use on prisoners by exploiting a legal loophole. In 2005 one of the EU member states, Hungary declared its intention to introduce electric ‘stun belts’ into its own prisons and police stations, despite a trade ban on such belts which inherently constituted torture or ill-treatment.

Surprisingly, five EU member states have expressed that they were unaware of any producers (Belgium, Cyprus, Italy, Finland and Malta) or exporters (Belgium, Cyprus, Italy) of equipment covered under the Regulation. However, it is interesting to note that companies from three of these five countries (Finland, Italy and Belgium) have stated openly in media interviews or on their websites that they supplied items which were covered by the Regulation, often manufactured in third countries.

Toboc Trade News

]]>
http://www.cosmizen.com/2010/03/eu-embarrassed-by-report-on-exports-of-torture-equipment/feed/ 0
Greece Needs Pragmatism not Post mortem http://www.cosmizen.com/2010/03/greece-needs-pragmatism-not-post-mortem/ http://www.cosmizen.com/2010/03/greece-needs-pragmatism-not-post-mortem/#comments Tue, 02 Mar 2010 05:18:34 +0000 http://www.cosmizen.com/?p=774 Continue reading]]> Greece, the EU member state, which is experiencing a severe economic crisis, has literally become a thorn in the flesh to the Union. Initial analysis on the ongoing crisis indicates a likely domino effect on the Eurozone, and the resuscitation of Greece economy now hinges on the rescue mission planned by the EU commission.

Germany’s non-committal on bailing out Greece after initially declaring support also signals that the EU would not hesitate to jettison its family member as there are already differences in using tax-payers money. On account of several polls and going by the words of Luxembourg’s Prime Minister Jean-Claude Juncker, head of the Eurogroup of ministers that oversee the Eurozone, Germany, Belgium or Luxembourg are not prepared to correct Greek fiscal policy mistakes.

The economic woes of Greece began after it hit upon a budget deficit of 12.7 percent of its GDP in 2009, four times more than the allowed EU limit. Though the government claims that it would slash 4 percent by the end of this year to eventually reach the EU limit of 3 percent by 2012, with current measures it seems insurmountable.

This year Greece needs about €54bn, and until now, it has raised around €13bn. The country has about €23bn in debt payments to be made in April and May. As counter measures, Greece has announced austerity initiatives and sale of another €3bn to €5bn debt.

However, in January, Greece sold five-year bonds amounting to €8bn, and within days the value of the bonds fell dimming hopes of future such offerings. Unless the government rolls out some tangible financial support mechanism, even this door will be perpetually shut.

Greece to avoid being outlawed and to tide over the crisis, it is learned that it has to shrug off its false pride and formally seek assistance from the EU or even the IMF without engaging in blame game. The Papandreou administration has accused the past regime’s mismanagement of finances and failed policies as major factors for the snowballing of the current crisis.

Starting from the 2004 Olympic Games in Athens to the previous government’s decision to dismantle its anti-fraud department were pointed out to be some of the areas send the country crashing with debt. Furthermore, the country’s defence outlay beyond threat perception and unnecessary expenditure on expensive eaves-dropping street cameras were also blamed.

Incidentally, though the Greek economy is not large enough to cause any damage to the EU economy, but it is feared any SOS response from the Union may set precedence to other countries including Spain, Portugal, Ireland and Italy which are in similar situations. It has been understood through recent turn of events, unless an effective, efficient and transparent roadmap to rescue Greece is not made available soon under the tutelage of the EU, not just the collapse of a nation but also the unity of the region and its currency would be at stake.

Toboc Trade News

]]>
http://www.cosmizen.com/2010/03/greece-needs-pragmatism-not-post-mortem/feed/ 0
EU Aims to Tide over WTO Ceiling on Sugar Exports http://www.cosmizen.com/2010/01/eu-aims-to-tide-over-wto-ceiling-on-sugar-exports/ http://www.cosmizen.com/2010/01/eu-aims-to-tide-over-wto-ceiling-on-sugar-exports/#comments Fri, 22 Jan 2010 15:54:21 +0000 http://www.cosmizen.com/?p=728 Continue reading]]> In the wake of repeated requests from International Confederation of European Beet Growers (CIBE) and other sugar agencies of Europe to export surplus sugar, the EU as a ‘matter of urgency’ is planning to seek legal means to breach the WTO ceiling on sugar exports. A month ago, it was estimated by CIBE that the quantity of sugar available for exports, at the end of 90 percent of the beet harvested was 2.4mn tonnes i.e. 800, 000 tonnes more than the export licenses already authorized.

In 2004, based on a complaint from Australia, Brazil and Thailand, which argued the EU was dumping its excess sugar into the global market, the WTO enforced a ceiling of 1.374mn tonnes on the EU sugar exports. Then, the WTO’s directive was in line with the world sugar prices which was comparatively far lower than the EU prices. Last month, Brussels had rejected beet growers’ demands to allow more of Europe’s sugar surplus onto the global market.

According to Agrimoney, a website that informs on the agriculture markets, Mariann Fischer Boel, the EU agriculture commissioner has received legal advice on whether, “in these exceptional circumstances”, the region can breach its export limit. Ms Boel told a meeting of European farm ministers this week that she was likely to announce a decision on surplus sugar exports by this month end.

As the sugar producers in France and Germany, Europe’s top producers, reaped the biggest harvest since 2006 are reported to be in favour of surplus export. The CIBE in its latest press release stated while the world was crying for sugar, it was inexplicable why the sector was not allowed to obtain licenses to export more sugar now.

The EU sugar growers argue that since the world sugar prices are high the EU sugar injection to world market would not tantamount to dumping. They also feel the availability of sugar to the global market will remove shortage, help farmers an opportunity to earn more and provide consumers to get sugar at a lower cost.

Severe shortage and price spiraling of sugar has already created serious problems to consumers as well as the ruling party in India, the largest sugar consumer. The price of sugar in India has more than doubled in a period of 12 months.

There are clear indicators that in the coming quarters, several countries will line up for more sugar by increasing their import limits. An estimate from Moscow analysis group, Ikar that Russia will raise imports of raw sugar by 66 percent to 2.45 tonnes in 2010, and Pakistan for 50,000 tonnes of white sugar.

World sugar production is short of demand by over 14mn tonnes this year primarily due to vagaries of weather in Brazil and India, the largest sugar producers. Furthermore, the price of refined sugar is expected to reach a 20-year high of 30 cents per pound on the commodity market.

This year, India faced shortage after several years of excess sugar production due to monsoon failure and growers moving on to other crops. On the contrary, Brazil failed to produce enough owing to excess rain and increase in ethanol use.

Toboc Trade News

]]>
http://www.cosmizen.com/2010/01/eu-aims-to-tide-over-wto-ceiling-on-sugar-exports/feed/ 0