Pakistan: A country at war with itself

By Lal Khan

Excerpt:

North Waziristan is rightly described as the centre of gravity of terrorist activity. Groups like Gul Bahadur, the Haqqani network (“good” Taliban), the so-called TTP, East Turkmenistan Islamic movement led by the Uzbeks, remnants of Al-Qaida and Al-Arab terrorists (“bad” Taliban) are running bloody havoc. The relations of these groups with the army, the US and other regional and imperialist powers have been dodgy and deceitful, with changing loyalties and affiliations. Their main sources of revenues are extortion, drug running, kidnapping and ransom, and other criminal activities. It is fear that guarantees their booty and hence they are all competing with the state and with each other to see who can carry out more heinous, cruel and inhuman acts of terror.

It is precisely because of this that the multinational companies, and imperialist and regional states, make deals and contracts with them to the advantage of their own financial and strategic policies and interests. Hence their connections with certain sections of the state, that has now vowed to obliterate them, are not so concealed anymore. This operation will not be a straightforward military campaign, as it is difficult to differentiate between friend and foe. After all, this has been the dilemma of the “good” and the “bad” Taliban that has been haunting and convulsing the establishment for decades now. It will be a long and a protracted and internecine war that has very remote chances of reaching any clear and decisive solution or conclusion.

And if this operation fails what will happen then? The political elite are so removed from reality that they can’t even dare to think about it. These billionaires and upstarts are not the ones who are suffering. It is the workers and the poor who are the victims of this fundamentalist onslaught and also of the economic terrorism being inflicted upon them by the system and the ruling classes through their state apparatus.

Read more » http://www.marxist.com/pakistan-a-country-at-war-with-itself.htm

Christian Father Commits Suicide After ISIS Members Rape Wife and Daughter in Front of Him Because He Couldn’t Pay Poll Tax

BY LEONARDO BLAIR , CP REPORTER

A Christian father who watched his wife and daughter get brutally raped by members of the militant group, Islamic State of Iraq and Syria (ISIS) because he couldn’t pay them a poll tax in Mosul, Iraq, killed himself under the weight of the trauma this past weekend.

A report from the Assyrian International News Agency said ISIS began enforcing Islamic laws in the northern Iraq city which they overran on June 10.

Read more » The Christian Post
http://www.christianpost.com/news/christian-father-commits-suicide-after-isis-members-rape-wife-and-daughter-in-front-of-him-because-he-couldnt-pay-poll-tax-122220/

Serbia 1914 and Pakistan 2014

By  Mani Shankar Aiyar

On the eve of the centenary of the first World War, Mani Shankar Aiyar draws an elaborate analogy between the events that triggered off the world’s bloodiest war and modern-day South Asia

Today, 28 June, exactly one hundred years ago, the Serbian terrorist, Gavrilo Princip, unwittingly started the First and Second World Wars that left more than a hundred million people dead before the madness gave over three terrible decades later. Along with five other young men, all about the same age as Ajmal Kasab and his companions, Princip and his companions lined up under successive lamp-posts along the quay that Archduke Franz Ferdinand, the heir apparent to the throne of the Austro-Hungarian Empire, was to drive down along with his wife, Countess Sophia Chotek, to the Sarajevo Town Hall for a formal welcome reception.

The five terrorists were infuriated because the Archduke and his consort had chosen the precise anniversary of the worst day in Serbia’s collective memory, the defeat of the Serbian Tsar, Dusan, by the Turks at the Battle of Kosovo in 1389, more than five centuries earlier, but which rankled as the day when the dream of Greater Serbia was ended for half a millennium. In the eyes of all Serbian nationalists and terrorists, with the Ottoman hold on the Balkans collapsing, the time had now come to avenge that defeat. Just as six centuries of Muslim rule in Delhi, from 1192 AD when Mohammad Ghori established the Sultanate to 1858 when the Last Mughal, Bahadur Shah Zafar, was deposed had reverberated in the minds of the Kasab gang of terrorists as the order to be re-established, so did the Serbian terrorists propose to reverse the 1878 occupation of Bosnia by Austria and its annexation to the Austro-Hungarian Empire in 1908 to pave the way to the re-establishment of Tsar Dusan’s Greater Serbian Empire that had perished on the Fields of Kosovo on 28 June 1389.

Continue reading Serbia 1914 and Pakistan 2014

How Did Ancient Indus Civilization Avoid War for 2,000 Years?

By Annalee Newitz

The Harappan civilization dominated the Indus River valley beginning about five thousand years ago, many of its massive cities sprawling at the edges of rivers that still flow through Pakistan and India today. But its culture remains a mystery. Why did it leave behind no representations of great leaders, nor of warfare?

Archaeologists have long wondered whether the Harappan civilization could actually have thrived for roughly 2,000 years without any major wars or leadership cults. Obviously people had conflicts, sometimes with deadly results — graves reveal ample skull injuries caused by blows to the head. But there is no evidence that any Harappan city was ever burned, besieged by an army, or taken over by force from within. Sifting through the archaeological layers of these cities, scientists find no layers of ash that would suggest the city had been burned down, and no signs of mass destruction. There are no enormous caches of weapons, and not even any art representing warfare.

That would make the Harappan civilization an historical outlier in any era. But it’s especially noteworthy at a time when neighboring civilizations in Mesopotamia were erecting massive war monuments, and using cuneiform writing on clay tablets to chronicle how their leaders slaughtered and enslaved thousands.

What exactly were the Harappans doing instead of focusing their energies on military conquest?

Read more » iO9
http://io9.com/a-civilization-without-war-1595540812?utm_campaign=socialflow_io9_facebook&utm_source=io9_facebook&utm_medium=socialflow

The military will not decisively act against its own strategic assets unless an ideological shift occurs at mass level

OUR VIEWPOINT ON ZARB-E-AZB

Written by  Redaktion

Yet another military operation has been launched in Waziristan Agency. Post-9/11, this will be fifth operation in the Agency.

While Viewpoint is staunchly opposed to the Taliban and considers them the biggest immediate threat to working classes in Pakistan, we refuse to lend support to the ongoing military operation for the following reasons:

1.       Amputating cancerous hand, preserving cancer: A military operation in Waziristan Agency implies that terrorism in Pakistan is geographically located. This is a fake beginning. Hence, it will only prolong the fight against puritan terror. Fact of the matter is, taproot of terrorism is located elsewhere. To be precise, terrorism in Pakistan emanates from Islamabad/Rawalpindi. It is grounded in the official policy-making, anchored in military doctrines, and situated in foreign office. Viewpoint has repeatedly pointed out: unless a paradigm shift displacing the Doctrine of Strategic Depth takes place, the Taliban terror cannot be decisively defeated. Furthermore, without abandoning the Jihadi infrastructure [ consisting of Punjab-based, Kashmir-specific, and anti-Shia outfits as well as mosque-and-madrassa networks], terrorism cannot be successfully fought back. Likewise, only by deradicalising the entire state and society (military, judiciary, constitution, media, education system and so on) we can expect a beginning of terrorism’s end. There is no piecemeal solution. In the absence of such radical paradigmatic shifts, the Waziristan operation will be tantamount to amputating cancerous hand while preserving the cancerous arm. Therefore, it is an absurd position to take if one supports or opposes amputation of a cancerous hand by khaki messiahs without operating upon the source of cancer.

Read more » View Point Online
http://www.viewpointonline.net/2014/06/our-viewpoint-on-zarb-e-azb/3828-our-viewpoint-on-zarb-e-azb#.U6niUJmUsGk.facebook

Pakistan needs to make hard choices now: Hillary

Former US secretary of state says Islamabad’s policy of strategic depth no longer valid

By Anwar Iqbal

WASHINGTON: Former US secretary of state Hillary Clinton has said that Pakistan’s policy of seeking strategic depth in Afghanistan has been proven wrong and the country now needs to focus all its strength on dealing with the militants.

“Their idea, that they have these groups to provide strategic depth, as they like to say, vis-a-vis Afghanistan, or vis-a-vis India, I think if that were ever true, which I doubt, but if that were ever true, it no longer is,” she told Indian NDTV channel.

In the interview that focused on her new book, ‘Hard Choices’, Ms Clinton said that Pakistan also needed to make a hard choice now, disconnecting its ties to various terrorist groups and putting together all state powers to “once and for all go after extremists, shut down their training camps, their safe havens, (and) madressahs that are inculcating suicide bombing behaviour.”

Read more » DAWN
http://www.dawn.com/news/1114535/

 

Tens of thousands march in London against coalition’s austerity measures

An estimated 50,000 people in London addressed by speakers, including Russell Brand, after People’s Assembly march

By  and agencies

Tens of thousands of people marched through central London on Saturday afternoon in protest at austerity measures introduced by the coalition government. The demonstrators gathered before the Houses of Parliament, where they were addressed by speakers, including comedians Russell Brand and Mark Steel.

An estimated 50,000 people marched from the BBC’s New Broadcasting House in central London to Westminster.

“The people of this building [the House of Commons] generally speaking do not represent us, they represent their friends in big business. It’s time for us to take back our power,” said Brand.

Read more » The Guardian
http://www.theguardian.com/politics/2014/jun/21/protest-march-austerity-london-russell-brand-peoples-assembly#start-of-comments

Blast at Islamabad shrine wounds at least 54

By Dawn.com | Irfan Haider

ISLAMABAD: A powerful explosion at a shrine in the federal capital on Friday night injured at least 54 people, seven of whom are said to be in critical condition, DawnNews reported.

Chief Commissioner Islamabad Jawad Paul told Dawn.com that 54 people were injured in the blast. He said 34 were taken to PIMS Hospital where four are in critical condition, Nine are being treated in Benazir Hospital and 11were shifted to Poly Clinic Hospital. Locals, however, put that number of injured much higher at 70 to 80.

Read more » DAWN
http://www.dawn.com/news/1114065/

Was this Lahore or Occupied Kashmir?

Islamabad diary

By Ayaz Amir

If this was Srinagar, and the Indian army had been trying to quell a crowd of Kashmiri demonstrators, we would have understood. We would have shaken our heads but we would have understood. Although even there the savagery and the mindless brutality of the Lahore police on supporters of Dr Tahirul Qadri would have seemed excessive.

The Indian army and the Indian police don’t have much of a reputation for being gentle in dealing with unruly Muslim protesters. Even so, when was the last time nine people, including two women and a youngster, were shot dead in cold blood in Srinagar? In addition to the dead there are around 30-40 people with gunshot wounds in hospital. When was the last time this happened across the Line of Control? When was the last time this was the tally of the dead and wounded in East Jerusalem or the West Bank?

And this wasn’t Hamas-ruled Gaza, the West Bank or Occupied Kashmir. This was Lahore and one of its better residential colonies. The chief minister lives in the same locality. But that evening when he addressed a press conference looking ever so contrite, he gave the impression that all this happened over his head. This from someone known as a hands-on chief minister…virtually half the city’s police force deployed against the Minhajul-Quran secretariat, the locality looking like a battlefield and resounding with the sound of gunfire for hours on end, and the chief minister in blissful ignorance.

Continue reading Was this Lahore or Occupied Kashmir?

Pakistan’s Federal minister for Planning & Development, Ahsan Iqbal’s son Ahmed Iqbal’s remarks against Pak Army

“The responsibility of all terrorist attacks falls squarely on the armed forces & intelligence agencies. People of Pakistan have made enough sacrifices. It is time that that these institutions start doing their job of protecting Pakistan & not themselves. There would no war, no Taliban, no external threat if they would have done their job. It is high time to not only hit back at terrorists but to secure Pakistan’s future by dealing with this menace. Spend on education, health, development, people & …. the army!”  “Warna, yeh Taliban Ko Paalnay Waali, India Ko Ukssanay waali, Jamhoriat Ko Lapaytnay waali Fauj apnay bojh talay Is Mulk Ko Kuchal day gi.” ~ Ahmed Iqbal Chaudhary

Read more » http://pakobserver.net/detailnews.asp?id=244363

More details »» Roznama Dunya
http://e.dunya.com.pk/colum.php?date=2014-06-16&edition=LHR&id=31946_74196307

The Feminist Leader Who Became a Men’s-Rights Activist

Karen DeCrow served as president of the National Organization for Women, but she often broke with feminist orthodoxy.
Karen DeCrow, the feminist attorney and author who served as president of the National Organization for Women from 1974 to 1977, died of melanoma last Friday at 76. Although her passing was widely noted in the media, most the obituaries and tributes overlooked the more unorthodox aspects of her work. Alifelong champion of women’s rights, DeCrow was nonetheless skeptical about many key aspects of latter-day feminism, including its focus on sexual violence and male abuse of women. She was also, for much of her career, a men’s-rights activist.

Empty wallets explain new levels of partisan hatred

Tricle downBy  | Daily Ticker

new study by Pew Research verifies much we already know about political extremism in America: It’s getting worse and interfering with social and economic progress. The big question is: Why?

Pew doesn’t address that question, but here’s a plausible answer: Voters are becoming angrier because living standards are falling and the middle class is shriveling. Prosperity breeds comity, but when it gets harder to get ahead, the natural inclination is for the losers to look for somebody to blame and the winners to feel more threatened. That’s been going on for nearly 30 years. Income inequality began to worsen in the United States starting around the early 1980s.

Read more » Yahoo News
https://ca.finance.yahoo.com/blogs/daily-ticker/empty-wallets-explain-why-democrats-and-republicans-hate-each-other-191155158.html

Pakistan: On the road to ‘Fascistan’

By Dr Mohammad Taqi

If the rise in fascist tendencies were sporadic, the concern might have been a notch lower. However, the way religious zealots were unleashed over the last several weeks, in what appears an orchestrated move by a well-oiled machine, is alarmingly ominous

Read more » Daily Times
http://www.dailytimes.com.pk/opinion/29-May-2014/on-the-road-to-fascistan

Mass beheadings reported in Iraq as al-Qaeda forces take Mosul and Tikrit

Iraq crisis: ISIS militants push towards Baghdad – live

Group claims mass killings of Iraqi troops, as militants battle security forces 50 miles from Baghdad – follow latest developments – follow latest developments

By 

It is impossible to confirm at present whether the ISIS claim on Twitter to have executed 1,700 Shia soldiers in Iraq is accurate, or an exaggeration intended to create fear among the Shia populace. But earlier, the UN high commissioner for human rights, Navi Pillay, expressed “extreme alarm” at the situation and spoke of verified reports of “summary executions and extrajudicial killings”. Some of the reports cited suggest that Iraqi security forces are being purged, though it is unclear whether there is an ethnic dimension to all of the killings.

According to the UN mission in Iraq, “the number of people killed in recent days may run into the hundreds and the number of wounded is said to be approaching one thousand,” Rupert Colville, Ms Pillay’s spokesman, said in Geneva.

He said UN had received reports of horrific abuses after the capture of Iraq’s second city Mosul, one such case involving the “summary executions of Iraqi soldiers (and) of 17 civilians” thought to have been working for the police, in one particular street in Mosul on 11 June.

Read more » The Telegraph
http://www.telegraph.co.uk/news/worldnews/middleeast/iraq/10892299/Iraq-crisis-ISIS-militants-push-towards-Baghdad-live.html

Americans Being Evacuated from Iraq Air Base

Officials say three planeloads of Americans are being evacuated from a major Iraqi air base in Sunni territory north of Baghdad to escape potential threats from a fast-moving insurgency.

A current U.S. official and a former senior Obama administration official say that means the American training mission at the air field in Balad has been grounded indefinitely.

Twelve U.S. personnel who were stationed at Balad were the first to be evacuated. Several hundred American contractors are still waiting to leave.

They have been training Iraqi forces to use fighter jets and surveillance drones.

Other U.S. contractors at a tank training ground in the city of Taji (TAH’-jee) is still ongoing for now.

The officials spoke on condition of anonymity because they refused to be named in discussing the sensitive situation.

©2014 by The Associated Press.

– See more at: http://pamelageller.com/2014/06/americans-evacuated-iraq-air-base.html/#sthash.nyj0VAfy.dpuf

World Sindhi Congress Mourns Death of Nawab Khair Bux Marri

London: World Sindhi Congress (WSC) is deeply grieved at the death of Baloch national legend, leader and statesmen, Nawab Khair Bux Marri who passed away on 10th June 2014 in Karachi. Nawab Khair Bux is regarded as father, icon  and guiding star of Baloch struggle for national liberation movement. He struggled steadfastly all his life for the independence of Balochistan.

Nawab Khair Bux Marri’s health deteriorated about three weeks ago. All the effort was made to bring him overseas for the treatment as the medical experts warned that any delay in his treatment there could be fatal. However, the Pakistani state establishment made it literally impossible for him to be treated overseas. WSC believes that this was a deliberate and sinister act of establishment to eliminate Nawab Sahib.

WSC  believes Nawab Khair Bux Marri  was and will always remain an endless source of inspiration for the freedom of Baloch and Sindhi nations. WSC and the entire Sindhi nation stands together with Baloch nation in this moment of their utmost grief and monumental loss. WSC recognize this as their own loss and a national tragedy for Sindhi nation.

Courtesy: World Sindhi Congress

A cultural do of Sindhi Council at Chitnavis Centre in Nagpur was full of fervour

Creativity and talent were at its peak at the cultural do – Sindhis got Talent – organised by the Sindhi Council of India, Nagpur ladies chapter, at Chitnavis Centre, recently. People from all age groups participated

Read more » The Times of India
http://timesofindia.indiatimes.com/entertainment/events/nagpur/A-cultural-do-of-Sindhi-Council-at-Chitnavis-Centre-in-Nagpur-was-full-of-fervour/articleshow/36394989.cms

Russia to supply Mi-35 helicopter to Pakistan

ISLAMABAD: Russia has decided to lift the ban on the Mi-35 Hind attack helicopter to Pakistan, said Russian Ambassador to Pakistan Alexey Dedov, Express News reported.
In a press conference on Tuesday, the ambassador also said Russia had agreed to sell the helicopters to Pakistan to assist the country with terrorism and the security related issues.
Earlier this month, Russia was still holding talks with Pakistan on the supply of the combat helicopters, and had lifted its embargo on the arms supply to Pakistan.
“Such a decision has been taken. We are holding talks on supplying the helicopters,” head of state-owned Rostec, Sergei Chemezov said, adding that the negotiations were about Russian Mi-35 Hind attack helicopters.

Read more » The Express Trubune
http://tribune.com.pk/story/719921/russia-to-supply-mi-35-helicopter-to-pakistan/

Pakistan’s Latest Crisis

By 

In its increasingly violent effort to destroy the Pakistani state, the Pakistani Taliban have attacked, among other targets, army headquarters in Rawalpindi, a naval base in Karachi, an air base in Kamra and an airport in Peshawar. The brazen assault over the weekend on the international airport in Karachi takes the campaign to a new level, striking at the country’s largest city and one of its most important commercial centers. Though militants and gangs operate freely there, Karachi is home to Pakistan’s central bank, a stock exchange and its hopes for desperately needed economic resurgence.

Will this be the crisis that finally persuades Pakistan’s government and its powerful military to acknowledge the Taliban’s pernicious threat and confront it in a comprehensive way? It should be. The attack is proof that the security is crumbling and the military, the country’s strongest institution, is in danger of losing control.

The siege lasted five hours after 10 gunmen, disguised as security forces and armed with rocket-propelled grenades and suicide vests, breached checkpoints near an old terminal used mostly for cargo or private flights for senior government officials and business leaders. Paramilitary security guards pinned them down; when the firefight was over, the militants and 19 others were dead.

It was another humiliating security breach for the army and the spy service, and many Pakistanis are rightly wondering why it was not prevented. Only weeks ago, the Pakistani Taliban appeared to be fractured and in disarray. One reason is the military’s long fixation with India. Wedded to an outmoded vision of India as the mortal enemy, the army plays a double-game, taking American aid while supporting and exploiting Taliban groups as a hedge against India and Afghanistan, and ignoring the peril that the militants have come to pose to Pakistan itself. While that attitude has slowly begun to change, the army still has not assigned enough urgency to the Taliban, the real threat.

The result has been a total absence of any sustained, coherent military response to the militants. Torn between fighting and negotiating, the army and government have undertaken episodic military strikes interspersed with peace talks, which invariably fall apart. The collapse of the most recent peace process undertaken by Prime Minister Nawaz Sharif in February was followed by a campaign of airstrikes against Taliban strongholds in North Waziristan.

The Taliban has claimed responsibility for the airport massacre, which a Taliban spokesman said was in retaliation for recent attacks by the government. He said that more such assaults could be expected, meanwhile insisting that the group still wants to revive peace talks.

Which on the face of it seems preposterous — given recent events, one has to assume the militants will stop at nothing until the state is utterly destabilized and they have taken control. Pakistani political and military leaders need to be honest about the militant threat that they and their people are facing, and that time to find a solution is fast running out.

Courtesy: The New York Times
http://www.nytimes.com/2014/06/10/opinion/pakistans-latest-crisis.html?ref=opinion&_r=0

White supremacist couple who killed two cops and an innocent Walmart shopper ‘wanted to overthrow the government and liked to dress up as the Slender Man’

By RYAN GORMAN and LYDIA WARREN

A husband and wife in their late 20s stormed a North Las Vegas pizzeria on Sunday morning and shot dead two police officers, one in the head
They then ran to a Walmart where they shot a woman dead before taking their own lives in a suicide pact
Police ‘found white supremacist paraphernalia including swastikas and a manifesto in the couple’s apartment during a search’
Neighbors described the pair as meth users obsessed with conspiracy theories and said they had talked about overthrowing Obama
They often dressed up as the Joker or Slender Man – the fictional killer who was cited as the motive behind the stabbing of a girl, 12, last week
The slain police officers have been identified as dad-of-three Alyn Beck, 41, and Igor Soldo, 31, who had a newborn baby
Read more: Daily Mail

http://www.dailymail.co.uk/news/article-2652306/BREAKING-As-five-people-feared-dead-Las-Vegas-shooting.html#ixzz34FxfhiCt

 

The jobs don’t pay enough and the rents are insane. Now New York City’s young add student loans to their misery 

Young and in Debt in New York City

Student Loans Make it Hard to Rent or Buy a Home

By 

For young people, moving to New York City hasn’t made much mathematical sense for decades. The jobs don’t pay enough, the internships don’t pay at all, and the rents are prohibitive by any sane standard.

But now add a new economic fact of life to that list: soaring student loandebt. More students are taking out bigger loans than ever before, and in the last 10 years alone, education debt tripled, reaching over $1 trillion. A record number of college students are graduating knee deep in a financial hole before they begin their adult lives.

Still, new research suggests that college is working, economically. Four years on campus nets the average graduate almost twice as much in wages as someone without a degree. Those odds may be comforting in the long run, but not when you’re young, deeply in debt and trying to nest in New York City.

Read more » The New York Times
http://www.nytimes.com/2014/06/08/realestate/student-loans-make-it-hard-to-rent-or-buy-a-home.html?smid=tw-nytimes&_r=0

Pakistan’s Karachi airport under attack: officials

Karachi (AFP) – Heavily armed militants attacked Pakistan’s busiest airport in the southern city of Karachi Sunday night, forcing the suspension of all flights, officials said.

Senior police official Rao Muhammad Anwar said the militants were armed with automatic weapons and grenades and were exchanging gunfire with security officials.

“Exchange of fire is continuing. We don’t know the exact number of the attackers but suspect four to six terrorists have attacked the airport,” he said.

Read more » Yahoo News
http://news.yahoo.com/pakistans-karachi-airport-under-attack-officials-191503030.html

Facebook under fire for blocking pages in Pakistan

By New York Times

By Declan Walsh and Salman Masood 

LONDON: Facebook said Friday that it had blocked users in Pakistan from access to the pages of a popular Pakistani rock band and several left-wing political pages, drawing sharp criticism from free-speech activists who accused the US company of caving in to government censors.

Members of the band, Laal, whose members have frequently spoken out against the Taliban, confirmed that their Facebook page, which had more than 400,000 “likes,” had been blocked.

After an outcry on so ..

Geo News to sue ISI for defamation

By Reuters

ISLAMABAD: Geo News is suing the Inter-Services Intelligence (ISI) for defamation over accusations of being anti-state, it said on Friday.

Geo News, part of the privately-owned Jang Group, has also given the ISI 14 days to issue a public apology.

“Geo and Jang Group (have) served a legal notice on the Ministry of Defence, Inter-Services Intelligence and Pakistan Electronic Media Regulatory Authority for defaming and maligning the group,” the channel said in a report published in a newspaper owned by the media house.

“More than 8,000 journalists, workers and professionals attached to the group and their families are not only being harassed but also attacked and tortured across Pakistan.”

The suing by Geo News was followed by a suspension of the channel’s license for 15 days along with a fine of Rs10 million.

Read more » DAWN
http://www.dawn.com/news/1110985

European Central Bank hurls cash at sluggish euro zone economy, seeks to force bank lending

FRANKFURT (Reuters) – The European Central Bank launched a raft of measures on Thursday to fight low inflation and boost the euro zone economy, cutting rates, imposing negative interest rates on its overnight depositors and offering banks new long-term funds.

By John O’Donnell and Eva Taylor

FRANKFURT (Reuters) – The European Central Bank launched a raft of measures on Thursday to fight low inflation and boost the euro zone economy, cutting rates, imposing negative interest rates on its overnight depositors and offering banks new long-term funds.

The ECB cut all its main rates to record lows in a drive to fight off the risk of Japan-like deflation and bring down the euro’s exchange rate. For the first time, it will charge banks 0.10 percent for parking funds at the central bank overnight.

It stopped short of large-scale asset purchases known as quantitative easing for now, but ECB President Mario Draghi said more action would come it necessary.

Draghi outlined a four-year 400 billion euro ($544.86 billion) scheme giving banks that have been holding back credit due to looming stress tests an incentive to increase lending to businesses in the euro zone.

“Now we are in a completely different world,” Draghi told a news conference, citing “low inflation, a weak recovery and weak monetary and credit dynamics”.

The package, adopted unanimously, was aimed at increasing lending to the “real economy”, he said.

Other steps included extending the duration of unlimited cheap liquidity for euro zone banks, injecting about 170 billion euros by stopping tenders that withdrew funds spent on past government bond purchases, and preparing for possible future purchases of asset-backed securities to support small business.

Read more » MSN
http://money.ca.msn.com/investing/news/breaking-news/ecb-hurls-cash-at-sluggish-euro-zone-economy-seeks-to-force-bank-lending

“Are we finished? The answer is no.” – Mario Draghi, president of the European Central Bank says

Draghi Unveils Historic Measures to Counter Deflation Threat

Mario Draghi, president of the European Central Bank (ECB), reacts whilst speaking at a news conference where he unveiled historic measures to face down inflation in Frankfurt, Germany, on Thursday, June 5, 2014.

Bloomberg News reported:

The ECB today cut its deposit rate to minus 0.1 percent, becoming the first major central bank to take one of its main rates negative. In a bid to get credit flowing to parts of the economy that need it, the ECB also opened a 400-billion-euro ($542 billion) liquidity channel tied to bank lending and officials will start work on an asset-purchase plan. While conceding that rates are at the lower bound “for all practical purposes,” he signaled the the ECB is willing to act again.

“We think it’s a significant package,” Draghi told reporters in Frankfurt. “Are we finished? The answer is no.”

Courtesy: Bloomberg

No more English, Modi chooses Hindi for talks with foreign leaders

ModiWritten by Pranab Dhal Samanta | New Delhi

Prime Minister Narendra Modi, it appears, has taken a call to hold his diplomatic conversations in Hindi, with interpreters being deployed in almost all his meetings, including those where the dignitary on the other side speaks in English.

While Modi is quite conversant in English given that many New Delhi-based diplomats have met him and never found language to be an impediment, sources said he seems to have decided to stick to the national language in his interactions. That he is reasonably comfortable with the English language is clear by the fact that interpreters are not required to translate from English to Hindi.

For instance, Sri Lankan President Mahinda Rajapaksa spoke in English during his bilateral meeting with Modi and at no stage did the PM require the interpreter’s assistance to understand what the Lankan President was saying. However, his responses were always in Hindi for which the services of the interpreter were used. In fact, he followed the same protocol with the Special Envoy of the Sultan of Oman, who spoke in English.

But with those who spoke Hindi or Urdu, the interpreter was not required, like the one-on-one with Pakistan Prime Minister Nawaz Sharif. In fact, Afghanistan President Hamid Karzai, who has studied in India, also spoke in Urdu with some Hindi words and so a translator was not needed.

Read more » The Indian Express
http://indianexpress.com/article/india/politics/no-more-english-modi-chooses-hindi-for-talks-with-foreign-leaders/#.U49a19yYHAc.facebook

Three police officers shot dead in Canada – BBC

Canada shooting: Manhunt as police officers killed in Moncton

Constable Damien Theriault: “People should stay inside and lock their doors”. A manhunt is under way in the Canadian city of Moncton after three police officers were shot dead and two hurt.

Police said they were searching for Justin Bourque, 24, who was “armed and dangerous”, and tweeted a picture of a suspect with weapons. Officials have warned people to stay inside and lock their doors.

The Royal Canadian Mounted Police (RCMP) told the BBC the officers were shot responding to reports of an armed man wearing camouflage clothing.

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