Wednesday, December 1, 2010

Ireland: 'A friend in need'

Britain has offered to make a direct bilateral loan to Ireland as well as contributing to EU and International Monetary Fund (IMF) loans. Government sources say that the government wants "to help a friend in need".

Ireland

Although final figures for the bail-out will not be agreed for several days, I understand that Britain expects to contribute £7bn or more in total.

The cost of the direct British loan to Ireland is expected to be "in the low billions". The UK will also contribute as a shareholder of the IMF and as a participant in the EU mechanism (as against the eurozone facility) agreed in May by the former Chancellor Alistair Darling.

All the funding will be in the form of contingency loans which the government expects to see paid back.

The chancellor is expected to make a statement in the Commons tomorrow. He is likely to face questions from Eurosceptics like John Redwood about why Britain has agreed to use any European mechanism at all.

Update 2203: John Redwood has just been on the BBC News channel expressing his concern:

"It's not something I'd recommended that we do, and obviously when we hear about it in the House tomorrow I'm sure many of us will want to know why, how much, how long are we out of the money, what are the prospects of being repaid, what is the interest rate? Of course this will be money we have to borrow ourselves, because we don't have any money. All the money we're spending on top of traditional programmes is borrowed."

Source: http://www.bbc.co.uk/blogs/nickrobinson/2010/11/a_friend_in_nee.html

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Fracking Debate Heats Up As Moratorium Bill Goes To Gov

The Assembly passed a bill in the wee hours of the morning Tuesday that imposes a temporary moratorium on drilling for natural gas in the Marcellus Shale. The Senate passed the bill earlier this year and now – in one of his final acts as New York’s chief executive – Governor Paterson will have to

Source: http://www.capitaltonight.com/2010/12/fracking-debate-heats-up-as-moratorium-bill-goes-to-gov/

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Brighton and Hove Liberal Democrats having a bust-up in a telephone box

What on earth is happening to the local Liberal Democrats?� They have deselect David Watkins, one of just two councillors they have on the City Council.� It is not that the Lib Dems are top of the popularity stakes just now and can afford to dispense with the service of David who is well liked [...]

Source: http://brightonpoliticsblogger.wordpress.com/2010/11/28/brighton-and-hove-liberal-democrats-having-a-bust-up-in-a-telephone-box/

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We Can Stop Calling It Ground Zero Now

I was down in lower Manhattan the other day for an interview and caught a glimpse of 1 World Trade Center. And, man, is it getting up there — almost 60 stories. I had to stop and look. I hadn't seen it since they were still finishing off that massive foundation and it was just a thick stub. Now it's shooting up. The thing is fat, too. It's going to be a big, solid, massive building that says fuck you if you wanna mess with me, motherfucker. Which is exactly what we want it to say. And nearby there's the new Frank Gehry building corkscrewing into the skies, a silly thing. Great combination.

Later, I drove up...

Source: http://www.esquire.com/blogs/politics/world-trade-center-progress-november-2010?src=rss

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No Thanks

I learned two things when trying to write some politico-holidayistic doggerel for this blog last night. One this that there are lots of things that rhyme in politics, like negotiations and appropriations, or (I was sort of proud of this one) riven and Thanksgivin'.

The other is that I'm really not thankful for much in politics as it now exists in this country. Essentially, I'm glad that our favorite actual conservative, Jeff Flake, will likely be joining the Appropriations Committee. That's a good thing. But it ain't a whole lot.

I don't want to leave for the break on a totally sour note, though, so let me say this: Six years ago I was driving this gentleman around the country for this series in the Atlantic. You remember 2004: It felt like the End Times. Like this country was on the edge of a precipice. Like four more years of the Cheney presidency would be an existential disaster for the American democracy. At least, that's how it felt to Bernard.

I argued otherwise...

Source: http://www.esquire.com/blogs/politics/no-thanks-thanksgiving-2010?src=rss

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