free web site traffic and promotion

RSS asks govt to take tough stand against Pakistan - Times of India

RSS asks govt to take tough stand against Pakistan - Times of India

NEW DELHI: The RSS today asked the government to understand the seriousness of terror threat to India in the wake of Abu Jundal's arrest and take a tough stand against Pakistan instead of the present "weak-kneed" policy towards the neighbouring country.

In the editorial of its latest issue, RSS mouthpiece Paanchjanya said Jundal's confession that there were preparations for another Mumbai terror attack type operation targeting tall buildings and dams with planes shows the seriousness of the threat to India.

"Therefore, the Indian government should not only bring out the real face of Pakistan at the international fora, but also give up its weak-kneed policy towards Pakistan and adopt a tough stand against it and tell it that attempts to betray India in the guise of trade relations and talks will not be tolerated," the editorial said.

"Either Pakistan should change its attitude or all trade and talks should be stopped," it added.

The mouthpiece argues that only when India survives can there be relations and trade.

It goes on to insist that such confusion on the part of some had led to partition of the country and is now leading the home minister of India to concoct terms like Hindu terror and saffron terror instead of making strong laws to corner Jihadi terror and to make some elements happy.

The government is also targeting patriotic Hindu organizations and saints and sadhus, it rued.

"But all this has encouraged Pakistan even further. The government should understand that Jihadi terror is not a question of vote bank politics but of national security. Hence, instead of hosting Kasab and Afzal, the government should take Jundal's sentence to its logical conclusion so that anti-India forces are taught a lesson," the editorial said.



Army hands over power to Egypt's first Islamist president - Reuters

CAIRO | Sat Jun 30, 2012 1:31pm EDT

CAIRO (Reuters) - Mohamed Mursi was sworn in on Saturday as Egypt's first Islamist, civilian and freely elected president, reaping the fruits of last year's revolt against Hosni Mubarak, although the military remains determined to call the shots.

The military council that took over after Mubarak's overthrow on February 11, 2011, formally handed power to Mursi later in an elaborate ceremony at a desert army base outside Cairo.

At the ceremony, Mursi hailed what he called a unique model of "how power is transferred from the Egyptian military forces by the will of the people to an elected, civilian power", praising the army for keeping its promise to do so.

Field Marshal Hussein Tantawi, who saluted Mursi when he arrived at Heikstep army base for the televised occasion, said: "Now we have an elected president who takes over the keys for ruling Egypt through a direct and free vote."

The handover of power to an Islamist by a military that long backed Mubarak and his suppression of the Muslim Brotherhood was just one moment in a day rich in images that told of how much Egypt has changed, as well as the fragility of its transition.

Egypt remains in political limbo, without a constitution, a lower house of parliament or any clarity about the role of a military anxious to stay in the driving seat, as Islamists and others challenge its right to do so.

Mursi, a bearded engineer who turned to the Brotherhood as a graduate student in Los Angeles, is Egypt's first civilian leader since army officers toppled the king in 1952.

For the 84-year-old Brotherhood, banned and repressed by Mubarak, it marks a dramatic reversal of fortunes.

"God is greatest, above all," said Mursi, 60, at Cairo University at the start of a speech after swearing his oath of office at the Supreme Constitutional Court.

"Egypt will not go backwards," Mursi said, pledging to keep the country on a democratic course, but saying it would not "export the revolution" or interfere in the affairs of others.

"We carry a message of peace to the world," Mursi said, reaffirming Egypt's commitment to international agreements, which include its U.S.-brokered 1979 peace treaty with Israel.

Israel has watched the rise of the Brotherhood in Egypt with apprehension since the fall of Mubarak, who staunchly upheld peace with the Jewish state, even if relations were never warm.

Mursi pledged to work to end bloodshed in Syria, scene of the most violent of a string of Arab uprisings.

WRANGLING OVER VENUE

The president was sworn in by the constitutional court, instead of parliament as is usual, because the court dissolved the Islamist-led lower house earlier this month amid a raft of measures to ensure enduring military influence.

The Nile-side constitutional court building where Mursi took his oath is next to the plush military hospital where Mubarak was transferred last week from the prison where he had begun a life term for failing to stop police killings of protesters.

The Brotherhood reluctantly accepted the venue, but in a symbolic riposte, Mursi read his oath on Friday to crowds in Cairo's protest hub, Tahrir Square. He told supporters there that the people were the only source of power, in a dig at the generals who see themselves as the state's ultimate arbiters.

The new president won a standing ovation when he recited his vow for a third time during his speech at Cairo University, delivered from the podium used by U.S. President Barack Obama to reach out to the Islamic world in 2009, early in his term.

An honor guard, artillery salute and the national anthem greeted Mursi at the university, where "No SCAF", the acronym for the ruling Supreme Council of the Armed Forces, was scrawled on a wall visible on television as he drove in.

In the audience were women in full Islamic face veils or headscarves, some waving portraits of "martyrs" killed in the anti-Mubarak uprising. Christian priests sat alongside Muslim clerics and men in suits or robes, some with beards.

When Egypt's military chief Tantawi arrived, some applauded, while others chanted "Down with military rule".

Tantawi's SCAF has guided a chaotic and sometimes bloody transition since Mubarak's overthrow, holding elections, but issuing arbitrary and often contradictory decrees, while the economy shrank, increasing hardship for millions of Egyptians.

An army decree on June 17 clipped presidential powers, denying the head of state his role as supreme commander of the armed forces with the right to decide on war and peace. It also gave SCAF legislative powers until a new parliament is elected, as well as veto rights over the writing of a new constitution.

TUSSLE FOR POWER

Much remains uncertain, with a protracted struggle likely as Islamists seek to roll back the control of a once all-powerful military, as their counterparts in Turkey have done.

An assembly that is supposed to write a new constitution has begun work after its predecessor fell apart amid disputes over whether Islamists were over-represented, in a country with a 10 percent Christian minority and many secular-minded liberals.

Egypt's 82 million people are more polarized than ever.

Mursi narrowly won a run-off vote against Ahmed Shafik, a former air force chief and Mubarak's last prime minister, but many voters were dismayed at having to choose between an Islamist and a man seen as a remnant of Mubarak's era.

Egypt will find it hard to attract the investment, loans and foreign aid it needs to revive an economy blighted by months of turmoil and uncertainty until political stability returns.

The International Monetary Fund's head, Christine Lagarde, called Mursi to discuss Egypt's economic challenges and how the IMF can best help, an IMF spokeswoman said on Friday.

Lagarde hailed Mursi's election as "an important step forward in Egypt's transition", but the Fund has set no date for a staff visit to discuss a proposed $3.2 billion IMF loan, pending the formation of a new government.

In Tahrir, where demonstrators have camped out for weeks to demand an end to military rule, one man said the protest would go on. "We will not leave until parliament is restored and the president gets all his authorities," said Mahmoud Arafa, 41.

Arafa, a shopkeeper from Shabin al-Kom in the Nile Delta, said he wanted Mursi to fulfill the promises he made for his first 100 days in office. "If he cannot, we will help him."

The Muslim Brotherhood's programme calls for swift measures with an immediate social impact, pledging to get traffic moving, restore security, collect rubbish, and clear bottlenecks in the distribution of subsidized bread, petrol and cooking gas.

"For the first time in my life I feel we have elected a leader through our own free will," said Mustafa Abu Hanafi, 31, an unemployed computer engineer from Giza.

"When someone graduates he's supposed to have a job," he said. "You always needed 'wasta' (connections). Under Mursi this will change ... He's one of us."

(Additional reporting by Edmund Blair, Marwa Awad, Patrick Werr and Omar Fahmy; editing by Andrew Roche)


RSS asks govt to take tough stand against Pakistan - Times of India

RSS asks govt to take tough stand against Pakistan - Times of India

NEW DELHI: The RSS today asked the government to understand the seriousness of terror threat to India in the wake of Abu Jundal's arrest and take a tough stand against Pakistan instead of the present "weak-kneed" policy towards the neighbouring country.

In the editorial of its latest issue, RSS mouthpiece Paanchjanya said Jundal's confession that there were preparations for another Mumbai terror attack type operation targeting tall buildings and dams with planes shows the seriousness of the threat to India.

"Therefore, the Indian government should not only bring out the real face of Pakistan at the international fora, but also give up its weak-kneed policy towards Pakistan and adopt a tough stand against it and tell it that attempts to betray India in the guise of trade relations and talks will not be tolerated," the editorial said.

"Either Pakistan should change its attitude or all trade and talks should be stopped," it added.

The mouthpiece argues that only when India survives can there be relations and trade.

It goes on to insist that such confusion on the part of some had led to partition of the country and is now leading the home minister of India to concoct terms like Hindu terror and saffron terror instead of making strong laws to corner Jihadi terror and to make some elements happy.

The government is also targeting patriotic Hindu organizations and saints and sadhus, it rued.

"But all this has encouraged Pakistan even further. The government should understand that Jihadi terror is not a question of vote bank politics but of national security. Hence, instead of hosting Kasab and Afzal, the government should take Jundal's sentence to its logical conclusion so that anti-India forces are taught a lesson," the editorial said.



France - Platini suggests Euro 2020 be hosted across Europe - Football

Published: 30 Jun 2012 - 11:46:59

UEFA president Michel Platini on Saturday suggested that the 2020 edition of the European Championships may be held across Europe, instead of in one or two host countries.

"It's an idea," Platini told a news conference in the Ukrainian capital, Kiev. "There's nothing definitive. In December or January, we will decide whether we will take a bid for one country or two or all of Europe."

The former France international indicated that the 60th anniversary of the tournament in eight years' time could involve "12 or 13 cities across Europe", making organisation easier and alleviating infrastructure problems.

Turkey had already declared their interest while a three-pronged Celtic bid - Ireland, Scotland and Wales - was also said to be interested in hosting the tournament.


AFP

Related England News



'UPA out to gag free opinion on Sonia, Rahul on net' - Hindustan Times
The RSS has alleged that the UPA government is out to gag people's free opinion on the net, specially those regarding Sonia Gandhi and son Rahul, through requests to sites like Google to remove content and by seeking users' data and account details. "The government of India is seeking to gag the voice of the public, expressed most freely on the net. It has sent 96 requests to the Google site alone from June to December 2011 fo removal of content," RSS mouthpiece Organiser said in the editorial of its latest edition.

It maintained that according to Google, there has been a 49 % rise in the number of requests for removing the contents in India, the highest in the world.

"It may be recalled that HRD minister Kapil Sibal had growled in exaggerated fury over a cartoon regarding the Prime Minister. The UPA government is being lampooned, criticised and chided by angry citizens," the editorial said, adding that this is the role of the media but since it has failed to do so the people have chipped in.

Organiser alleged that as per newspaper reports the government investigative agencies are also engaged in finding the physical location and identity of several IP addresses from the US, which have posted material not "palatable to the Gandhi family", particularly Sonia Gandhi and son Rahul.

Citing Google, the editorial said most requests for removal are regarding political comments.

"Google received 2,207 requests for user data and 3,427 requests regarding users and accounts between July and December 2011. It complied with 66 per cent of the requests," the editorial said, adding that Pakistan has made only two such requests. Organiser has further alleged that India is asking other countries- even the ones with which it has Mutual Legal Assistance Treaty- to provide more than legal information about netizens who make such comments.

"It wants the postal address, even the billing and payment details, which could fix the person directly," it said.

Indicating that advertisements worth crores could be responsible for the media not being critical enough of the government, it said, "This (advertisements) it uses as a leverage for blocking anti-government news, information and opinion."

The article cited the way "Anna Team was stifled" over the debate on UPA's presidential nominee.

"The net is full of analysis and reports by experts and the intelligent common man who has assessed the qualities of Pranab Mukerjee, and the charges of his ommissions and commissions. Or, for that matter the dead silence on matters relating to Sonia Gandhi," the editorial said.

The RSS mouthpiece alleged that Gandhi made a request for privacy about her illness, the media "obeyed like a lap dog". It further states that in India the public and private have merged beyond demarcation with regard to the Gandhis.

Charging the Congress with being "proactive in press censorship" and "cultivating" journalists, the article said, "To those who oppose them, the Congress has shown its true face, repression and threats. The Google report is just an indicator of the deeper malaise of censorship in India."

Interestingly, Organiser refers to the rejection of its own accreditation to the Press Information Bureau as another case of gagging the "free and critical voice" by the government.



Army hands over power to Egypt's first Islamist president - Reuters

CAIRO | Sat Jun 30, 2012 1:31pm EDT

CAIRO (Reuters) - Mohamed Mursi was sworn in on Saturday as Egypt's first Islamist, civilian and freely elected president, reaping the fruits of last year's revolt against Hosni Mubarak, although the military remains determined to call the shots.

The military council that took over after Mubarak's overthrow on February 11, 2011, formally handed power to Mursi later in an elaborate ceremony at a desert army base outside Cairo.

At the ceremony, Mursi hailed what he called a unique model of "how power is transferred from the Egyptian military forces by the will of the people to an elected, civilian power", praising the army for keeping its promise to do so.

Field Marshal Hussein Tantawi, who saluted Mursi when he arrived at Heikstep army base for the televised occasion, said: "Now we have an elected president who takes over the keys for ruling Egypt through a direct and free vote."

The handover of power to an Islamist by a military that long backed Mubarak and his suppression of the Muslim Brotherhood was just one moment in a day rich in images that told of how much Egypt has changed, as well as the fragility of its transition.

Egypt remains in political limbo, without a constitution, a lower house of parliament or any clarity about the role of a military anxious to stay in the driving seat, as Islamists and others challenge its right to do so.

Mursi, a bearded engineer who turned to the Brotherhood as a graduate student in Los Angeles, is Egypt's first civilian leader since army officers toppled the king in 1952.

For the 84-year-old Brotherhood, banned and repressed by Mubarak, it marks a dramatic reversal of fortunes.

"God is greatest, above all," said Mursi, 60, at Cairo University at the start of a speech after swearing his oath of office at the Supreme Constitutional Court.

"Egypt will not go backwards," Mursi said, pledging to keep the country on a democratic course, but saying it would not "export the revolution" or interfere in the affairs of others.

"We carry a message of peace to the world," Mursi said, reaffirming Egypt's commitment to international agreements, which include its U.S.-brokered 1979 peace treaty with Israel.

Israel has watched the rise of the Brotherhood in Egypt with apprehension since the fall of Mubarak, who staunchly upheld peace with the Jewish state, even if relations were never warm.

Mursi pledged to work to end bloodshed in Syria, scene of the most violent of a string of Arab uprisings.

WRANGLING OVER VENUE

The president was sworn in by the constitutional court, instead of parliament as is usual, because the court dissolved the Islamist-led lower house earlier this month amid a raft of measures to ensure enduring military influence.

The Nile-side constitutional court building where Mursi took his oath is next to the plush military hospital where Mubarak was transferred last week from the prison where he had begun a life term for failing to stop police killings of protesters.

The Brotherhood reluctantly accepted the venue, but in a symbolic riposte, Mursi read his oath on Friday to crowds in Cairo's protest hub, Tahrir Square. He told supporters there that the people were the only source of power, in a dig at the generals who see themselves as the state's ultimate arbiters.

The new president won a standing ovation when he recited his vow for a third time during his speech at Cairo University, delivered from the podium used by U.S. President Barack Obama to reach out to the Islamic world in 2009, early in his term.

An honor guard, artillery salute and the national anthem greeted Mursi at the university, where "No SCAF", the acronym for the ruling Supreme Council of the Armed Forces, was scrawled on a wall visible on television as he drove in.

In the audience were women in full Islamic face veils or headscarves, some waving portraits of "martyrs" killed in the anti-Mubarak uprising. Christian priests sat alongside Muslim clerics and men in suits or robes, some with beards.

When Egypt's military chief Tantawi arrived, some applauded, while others chanted "Down with military rule".

Tantawi's SCAF has guided a chaotic and sometimes bloody transition since Mubarak's overthrow, holding elections, but issuing arbitrary and often contradictory decrees, while the economy shrank, increasing hardship for millions of Egyptians.

An army decree on June 17 clipped presidential powers, denying the head of state his role as supreme commander of the armed forces with the right to decide on war and peace. It also gave SCAF legislative powers until a new parliament is elected, as well as veto rights over the writing of a new constitution.

TUSSLE FOR POWER

Much remains uncertain, with a protracted struggle likely as Islamists seek to roll back the control of a once all-powerful military, as their counterparts in Turkey have done.

An assembly that is supposed to write a new constitution has begun work after its predecessor fell apart amid disputes over whether Islamists were over-represented, in a country with a 10 percent Christian minority and many secular-minded liberals.

Egypt's 82 million people are more polarized than ever.

Mursi narrowly won a run-off vote against Ahmed Shafik, a former air force chief and Mubarak's last prime minister, but many voters were dismayed at having to choose between an Islamist and a man seen as a remnant of Mubarak's era.

Egypt will find it hard to attract the investment, loans and foreign aid it needs to revive an economy blighted by months of turmoil and uncertainty until political stability returns.

The International Monetary Fund's head, Christine Lagarde, called Mursi to discuss Egypt's economic challenges and how the IMF can best help, an IMF spokeswoman said on Friday.

Lagarde hailed Mursi's election as "an important step forward in Egypt's transition", but the Fund has set no date for a staff visit to discuss a proposed $3.2 billion IMF loan, pending the formation of a new government.

In Tahrir, where demonstrators have camped out for weeks to demand an end to military rule, one man said the protest would go on. "We will not leave until parliament is restored and the president gets all his authorities," said Mahmoud Arafa, 41.

Arafa, a shopkeeper from Shabin al-Kom in the Nile Delta, said he wanted Mursi to fulfill the promises he made for his first 100 days in office. "If he cannot, we will help him."

The Muslim Brotherhood's programme calls for swift measures with an immediate social impact, pledging to get traffic moving, restore security, collect rubbish, and clear bottlenecks in the distribution of subsidized bread, petrol and cooking gas.

"For the first time in my life I feel we have elected a leader through our own free will," said Mustafa Abu Hanafi, 31, an unemployed computer engineer from Giza.

"When someone graduates he's supposed to have a job," he said. "You always needed 'wasta' (connections). Under Mursi this will change ... He's one of us."

(Additional reporting by Edmund Blair, Marwa Awad, Patrick Werr and Omar Fahmy; editing by Andrew Roche)



BJP’s tryst with doom - Deccan Herald

Between the lines

Mohan Bhagwat’s wish for a Hindutva prime minister shows how the RSS does not face the reality of a secular India.

The Bhartiya Janata Party seems to have a tryst with doom. In the wake of scams and scandals in the Congress-run government, the BJP was gaining ground.

Its performance in Parliament was comparatively better and its younger leadership assertive and more meaningful. But once again old RSS men who have been riding the party have brought it back to square one.

First Gujarat chief minister Narender Modi joined issued with Bihar chief minister Nitish Kumar on the concept of secularism and then RSS played the Hindutva card.

Both have scotched even the remotest chance of BJP returning to power. A person who has his hands tainted with the blood of Muslims cannot be projected as India’s next prime minister.

Nor can the false clothes of culture hide the real face of adherents to Hindu Rashtriya concept.

The BJP has, by and large, remained quiet. One if its leaders has spoken out of turn and questioned the very concept of secularism. But he was hushed up quickly. It seems that the party did delude itself with the idea that the Hindu voters were beginning to own the RSS philosophy. The BJP should have learnt the lesson in 2009 when it was all set to win but lost to the Congress.

Political parties, including the Congress, do not understand the new electorate, mostly young. It is liberal in outlook and hates to mix religion with politics. This was the ethos which the nation adopted during the independence struggle and after freedom as a pole star under the leadership of Mahatama Gandhi, Jawaharlal Nehru and Maulana Abul Kalam Azad.

True, regional chauvinism, which is co-terminus with caste and community in certain states, is rearing its ugly head. This is because the Centre looks confused and equivocal when it comes to enunciate policies which demand secular credentials.

Having little feedback from the field, New Delhi continues to monopolise power and fails to appreciate that the decentralisation would infuse life among the people in a state. Regional aspirations have got a new edge in the past years and the locals are fired with confidence that they can sort out their problems themselves and find a consensus quicker than the remote New Delhi does.

This is the reason why Trinamool Congress won in West Bengal and Samajwadi Party in UP. The voters found the parties closer to them and more sympathetic to their problems. Even if these regional parties do not give them a better administration the people are not likely to go back to all India parties which they have found failing them again and again.

They may try another party within the region because they are getting convinced that all India parties are not an answer to their problems of appalling living conditions.

Asserting identity

The idea of India may be pushed further into the background. There may be insurgents and separatists in certain areas to assert the identity of their caste or community, believing that in the affairs of all India politics they may get lost. Much would depend on how New Delhi handles the situation. The Sarkaria Commission on Centre-State relations has become outdated.

Had its recommendations been implemented when the report came out more than two decades ago, the demand by the states to have more powers might not have arisen.

The Centre has to curtail the subjects it has, either voluntarily or through a Constitutional amendment. Apart from defence, foreign affairs, currency and overall financial planning, New Delhi should not have more subjects. Once it decentralises its power, it should ensure that it goes all the way, from the state capital to the district and then to the panchayat so that people themselves participate in governance.

The two main parties, Congress, the BJP and the Left would have problems. The Left does not seem to bother because it is dictatorial in its working. The CPM ousted a member from the party even though he had resigned after supporting Pranab Mukherjee.

The BJP faces a bigger problem because it rules in twice the number of States the Congress does. Leave Modi apart — he is a bull in the China shop — the chief ministers in Madhya Pradesh, Chhattisgarh and Karnataka are too tall to tame. They are leaders of their own communities and command wide influence.

Both parties would have great difficulty for 2014 election, first in choosing the top person and then tackling him or her. The BJP would need more and more assistance of RSS to sort out difficulties with the state leaders. Realising this, RSS chief Mohan Bhagwat has announced that Modi has all the qualifications to become India’s new prime minister.

However, this has naturally infuriated the BJP’s main ally, Janata Dal (United). Its president Sharad Yadav has said that if Modi is the prime minister candidate, the JD(U) would quit the BJP-led National Democratic Alliance.

What is wrong with having a Hindutva prime minister questions Bhagwat. This question itself shows how RSS lives in a world of it own and does not face the reality of secular India. For the BJP, already a divided house, the confusion is more confounded. It realises that the country can never be ruled through a communal agenda.

Even the former prime minister Atal Behari Vajpayee realised this and always put his liberal foot forward. He refused to oust his principal secretary Brijesh Mishra despite the pressure of RSS. But then the BJP’s problem is that it does not have a tall person like Vajpayee to withstand the pressure of RSS.

Go to Top


BlackBerry to make 5,000 job cuts and delays phone launch - Marketing

BlackBerry to make 5,000 job cuts and delays phone launch - Marketing

[getrss.in: unable to retrieve full-text content]

BlackBerry maker Research in Motion (RIM) is to axe 5,000 jobs from its global workforce as it reveals a further delay of the launch of its next generation of smartphones. The swingeing jobs cuts which are expected to run across the business represent 30% ...

Congress, BJP can’t connect with young Indian voters - Gulf News

The Bhartiya Janata Party (BJP) seems to have a tryst with doom. In the wake of scams and scandals in the Congress-led United Progressive Alliance (UPA) government, the BJP was gaining ground. Its performance in parliament was comparatively better and its younger leadership assertive. But once again old Rashtriya Swayamsevak Sangh (RSS) men have brought the party back to square one.

First, Gujarat Chief Minister Narender Modi crossed swords with Bihar Chief Minister Nitish Kumar on the concept of secularism. Then the RSS played the Hindutva card. Both have scotched even the remotest chance of the BJP returning to power. Modi, a person who has his hands tainted with the blood of Muslims, cannot be projected as India’s next prime minister.

The BJP has, by and large, remained quiet. One of its leaders spoke out of turn and questioned the very concept of secularism, but he was hushed up quickly. It seems that the party did delude itself with the idea that the Hindu voters were beginning to own the RSS philosophy. The BJP should have learnt the lesson in 2009 when it was all set to win, but lost to the Congress.

Political parties, including the Congress, do not understand the mostly young new electorate. It is liberal in outlook and hates to mix religion with politics. This was the ethos that the nation adopted during the independence struggle and after freedom under the leadership of Mahatma Gandhi, Jawaharlal Nehru and Maulana Abdul Kalam Azad.

True, regional chauvinism is rearing its ugly head. This is because the Centre looks confused when it comes to policies which demand secular credentials. Receiving little feedback from the field, New Delhi continues to monopolise power and fails to appreciate that decentralisation would infuse life among the people in a state. Regional aspirations have gained a new edge and the locals are fired with confidence that they can sort out their problems themselves and find a consensus quicker than a remote New Delhi can.

This is the reason why parties like the Trinamool Congress and Samajwadi Party won in West Bengal and Uttar Pradesh respectively. The voters found the parties closer to them and more sympathetic to their problems. Even if these regional parties do not give them a better administration the people are not likely to go back to all-India parties which they have found failing them again and again. They may try another party within the region because they are getting convinced that all-India parties are not an answer to their problems of appalling living conditions.

The idea of India may be pushed further into the background. There may be insurgents and separatists in certain areas to assert the identity of their caste or community, believing that, in the affairs of all-India politics, they may get lost. Much would depend on how New Delhi handles the situation. The Sarkaria Commission on Centre-State relations has become outdated. Had its recommendations been implemented when the report came out more than two decades ago, the demand by the states to have more powers might not have arisen. The Centre has to curtail the subjects it has, either voluntarily or through a Constitutional amendment. Apart from defence, foreign affairs and overall financial planning, New Delhi should not have more subjects. Once it decentralises its power it should ensure that the decentralisation goes all the way, from the state capital to the district and then to the Panchayat so that people themselves participate in governance.

The Congress, the BJP and the Left would have problems. The Left does not seem to bother because it is dictatorial in its working. The CPM ousted a member from the party even though he had resigned after supporting Pranab Mukherjee, the Congress Party’s presidential candidate. Yet both the Congress and the BJP need to handle their members carefully. Even when a state chief minister speaks out of turn, he has to be brought around as has been the case with Chief Minister Prithviraj Chavan, although he is a creature of Congress president Sonia Gandhi.

The BJP faces a bigger problem because it rules in twice the number of states as the Congress does. Leave Modi apart — he is a bull in the China shop — the chief ministers in Madhya Pradesh, Chhattisgarh and Karnataka are too tall to tame. They are leaders of their own communities and command wide influence.

Both parties would have great difficulty for the 2014 election, first in choosing the top person and then tackling him or her. Take for example the BJP, it is already wooing Vasundheraraje Scindia, former chief minister, who thumbed the party and stayed in the wilderness because she was sure that the central BJP would one day come to her and accept her authoritarian leadership.

Problems of the Congress on this count are negligible. Sonia has all the authority. That Rahul Gandhi, her son, should be nominated as number two has already been done. There is no dissidence and she alone, more so after the departure of Pranab Mukherjee, has the confidence of allies in the UPA she chairs.

The BJP would need more and more assistance of RSS to sort out difficulties with the state leaders. Realising this, RSS chief Mohan Bhagwat has announced that Modi has all the qualifications to become India’s new prime minister. However, this has naturally infuriated the BJP’s main ally, Janata Dal (United). Its President Sharad Pawar has said that if Modi is the prime minister candidate, the JD (UP) would quit the BJP-led National Democratic Alliance (NDA).

What is wrong with having a Hindutva prime minister, questions Bhagwat. This question itself shows how RSS lives in a world of it own and does not face the reality of secular India. For the BJP, already a divided house, the confusion is more confounded. It realises that the country can never be ruled through a communal agenda. Even former prime minister Atal Behari Vajpayee realised this and always put his liberal foot forward. He refused to oust his principal secretary Brijesh Mishra despite the pressure of RSS. But then the BJP’s problem is that it does not have a tall person like Vajpayee to withstand the pressure of RSS.

— Kuldip Nayar is a former Indian high commissioner to the United Kingdom and a former Rajya Sabha member.



No recession respite as UK services stagnate - Reuters UK

LONDON | Fri Jun 29, 2012 6:45pm BST

LONDON (Reuters) - Britain's dominant service sector stagnated in April and an extra holiday and festivities for the Queen's Diamond Jubilee failed to lift consumers' spirits, data showed on Friday, giving little hope of an escape from recession in the second quarter.

The gloomy news strengthens expectations the Bank of England will restart its printing presses when it meets next week and provide further stimulus to an economy that sank back into recession around the turn of the year.

Output in the services sector -- which ranges from banks to hotels to airlines and accounting for some three quarters of output -- was flat on the month after growing 0.6 percent in March, the Office for National Statistics said, offering the first official glimpse of how the sector fared in the second quarter.

"Flat services output in April is another blow to hopes that the economy may have avoided further contraction," said Howard Archer at IHS Global Insight.

The central bank has warned that the economy may shrink again in the current quarter because the extra holiday for the Jubilee would hit manufacturers and many service firms' output.

Purchasing managers' surveys are a bit more upbeat than the data. They suggest that Britain's service sector grew at a steady pace in May but manufacturing output braked sharply. Reports for June next week are expected to paint a similar picture.

But after a shock contraction in the first three months of 2012 pushed the economy back into recession economists see tepid growth ahead at best, with only a mild bounce next quarter from London's hosting of the Olympic Games and the subsequent tourism and ticket sales.

Faced with a struggling economy the Bank is expected to flood the market with another 50 billion pounds of cash next week as falling inflation gives it more room to manoeuvre.

BLACK CLOUD

Having slashed rates to rock bottom the Bank has already pumped 325 billion pounds into the economy through its quantitative easing asset-buying programme, designed to stimulate growth by cutting long-term lending costs.

But bank governor Mervyn King has warned that a "black cloud of uncertainty" was keeping businesses and consumers from spending, while driving up banks' funding costs.

"Uncertainty and tighter credit conditions have acted as strong headwinds to our recovery," King said in a media conference presenting the BoE' financial stability report.

The central bank said regulators would ease liquidity requirements for banks, in order to allow for more lending. In addition the government and the central bank are launching a scheme to provide cheaper funding to banks.

The government and the Bank hoped falling inflation, which eased to 2.8 percent in May, would provide more households with the scope to increase spending this year but the main drag on services output was a 2.4 percent slump in retail output.

Britons have been cutting back spending in the wake of the 2008/2009 slump after unemployment rose and high inflation ate away meagre wage increases while unusually cold and wet weather in April kept shoppers from buying summer clothes.

Consumers were more amenable to buying bigger items such as furniture or electrical goods this month but their assessment of the economic outlook worsened, a survey showed.

Researchers GfK NOP's headline consumer confidence index held steady at minus 29 in June. "The stagnant level of consumer confidence suggests that the public is stuck in a period of constant depression," said Nick Moon, managing director of GfK NOP Social Research.

Britain's biggest department store group John Lewis meanwhile continued to defy the gloom, posting another strong rise in weekly sales, driven by strong demand for technology products and the start of its clearance sale.

(Additional reporting by Sven Egenter. Editing by Jeremy Gaunt.)



'Devastated' Cook gives up on Olympic dream - ESPN.co.uk

Aaron Cook has finally given up on his dream of competing at London 2012, announcing on Friday that he will not take his case against the British Olympic Association [BOA] to the High Court.

Cook was left out of the Team GB Olympic squad by British Taekwondo, a move Cook has always maintained was due to his decision to prepare outside of the system.

The world No. 1 at the -80kg weight category had hoped the BOA could step in and order Cook's selection, but the governing body did not feel it right to do so. Cook has since asked for his case to be heard at the Court of Arbitration for Sport [CAS], but the BOA rejected the request.

That left Cook with only one remaining option, to take his case to the High Court, but both time and funding is against him. An emotional statement has now confirmed he will give up his fight.

"After careful consideration over the last few weeks, and despite my representatives advising me that I still had a good chance of successfully overturning the BOA's ratification of Great Britain Taekwondo's decision not to select me for London 2012, I have decided not to take my case against the BOA to the High Court," Cook said.

"The financial implications for me, and, more importantly, for my parents, of doing so are too prohibitive.

"I am really disappointed that the BOA did not agree to my case being heard at the Court of Arbitration for Sport. It is the specialist forum for sports-related matters. The High Court is significantly more expensive, time-consuming and does not have the experience or expertise in dealing with sports-related disputes.

"The World Taekwondo Federation [WTF] is currently conducting a review of British Taekwondo's selection process. It has already publicly stated that the selection process has brought the sport into disrepute due to a perceived lack of transparency.

"I welcome this investigation but I am hugely disappointed that the WTF has now indicated that it will not finalise the review and findings in time for London 2012. This is particularly disappointing as the BOA had reserved the right to reconsider its decision to ratify Great Britain Taekwondo's nomination in light of the WTF's findings.

"In the best interests of Team GB, I have decided not to take up the offer to be first reserve for London 2012. Clearly it would be hugely difficult for me to work with their coaches in view of what has happened in the last few weeks. I wish all of the athletes the very best of luck - that includes Lutalo Muhammad.

"I love my country. I love my sport. I don't think that I could have done any more in terms of my performance. I will sit down with my team though and consider my best way forward in the coming months.

"I have nothing more to say at this stage. I will not be doing any media interviews. The Olympics, and especially a home Olympics, would have been the pinnacle of my career. I feel totally devastated."

© ESPN EMEA Ltd


EU deal for Spain, Italy buoys markets but details sketchy - Reuters UK

BRUSSELS | Fri Jun 29, 2012 7:50pm BST

BRUSSELS (Reuters) - Under pressure to prevent a catastrophic breakup of their single currency, euro zone leaders agreed on Friday to let their rescue fund inject aid directly into stricken banks from next year and intervene on bond markets to support troubled member states.

They also pledged to create a single banking supervisor for euro zone banks based around the European Central Bank in a landmark first step towards a European banking union that could help shore up struggling member Spain.

"It is a first step to break the vicious circle between banks and sovereigns," European Council President Herman Van Rompuy told a final news conference after talks which stretched right through the night.

The deal was widely seen as a political victory for embattled Italian Prime Minister Mario Monti and his Spanish counterpart, Mariano Rajoy, over German Chancellor Angela Merkel, who had brushed aside any need for such emergency measures earlier this week.

ECB President Mario Draghi endorsed the "tangible results", which sent the euro nearly 2 percent higher and sharply cut Spanish and Italian bond yields. European shares rose, led by banking stocks buoyed by the prospect of moves to backstop the financial system.

"I am actually quite pleased with the outcome of the European Council. It showed the long-term commitment to the euro by all member states of the euro area," Draghi told reporters.

Market participants welcomed the outcome as a substantial step to restore confidence in the 17-nation euro zone, which was saluted by a more durable rally than previous summit outcomes.

"It's inching closer to a banking union, and the closer we get to a banking union would put (the EU) well on the road to a fiscal union," said Art Hogan, managing director of Lazard Capital Markets in New York.

Most economists polled by Reuters expect the ECB to cut borrowing costs at its July 5 meeting, which takes place against a darkening economic backdrop. But internal resistance to the central bank reviving its bond-buying programme remains high.

After 14 hours of tense talks that ended at 4.30 a.m. (0230 GMT), the 17 leaders agreed on a series of short-term steps to shore up their monetary union and bring down the borrowing costs of Spain and Italy, seen as too big to bail out.

To that end the euro zone's temporary EFSF and permanent ESM rescue funds will be used "in a flexible and efficient manner in order to stabilise markets" to support countries that comply with EU budget policy recommendations, a joint statement said.

It gave few specifics, but euro zone officials said the funds could buy bonds on both the primary and secondary markets on the basis of a memorandum of understanding signed with the requesting state and up to a funding limit to be agreed.

Both Italy and Spain said they did not intend to call on that mechanism to stabilise markets for now, hoping the Brussels agreement will serve as a sufficient deterrent.

Washington said it was encouraged by the progress but White House press secretary Jay Carney told reporters travelling with President Barack Obama that "a lot of details" still needed to be worked out, and the euro zone was likely to need to take further steps in the future.

The International Monetary Fund said the summit had taken "the right steps toward completing monetary union" while ratings agency Fitch said the deal eased near-term pressure on euro zone sovereign ratings.

UNTHINKABLE DECISIONS

In a key concession by EU paymaster Germany, the leaders agreed to waive the ESM's preferred creditor status on lending for Spanish banks, removing a key deterrent to investors buying Spanish government bonds, who feared having to take the first losses in any debt restructuring.

"We have taken decisions that were unthinkable just some months ago," European Commission President Jose Manuel Barroso said.

Despite the concessions by Berlin allowing euro zone rescue funds to be used more flexibly, questions remained about the terms, size and supervision of any future aid for Spain and Italy.

There was also no commitment for now to back up a European bank supervisor with a joint deposit guarantee or a common resolution fund, to avert capital flight and taxpayer losses. However, one EU official said that letting the ESM lend directly to banks once the supervisory body is up and running was a backdoor route to closer fiscal union.

Monti, determined to avoid the political stigma of the bailout terms imposed on Greece, Ireland and Portugal, said countries that complied with EU budget recommendations would not face extra austerity conditions or be subject to intrusive inspections by a "troika" of international lenders.

Eager to avoid the impression that she had blinked first, Merkel said strict conditionality would still apply to the use of rescue funds and countries would face stringent monitoring by the EU Commission and the ECB.

Asked if she had yielded to pressure, she said: "There is clearly pressure from financial markets. Some countries are in a difficult situation. The high interest rates affect the debt but also the real economy. We had an interest in finding solutions."

Merkel reaffirmed her firm opposition to common euro zone bonds.

The Spanish and Italian leaders had threatened to block a package of measures to promote growth to pressure her to accept measures to ease their borrowing costs, delaying the talks.

New French President Francois Hollande backed their calls for bold steps to help the bloc's third and fourth biggest economies, adding to the pressure on Merkel.

Hollande, who had demanded a renegotiation of the fiscal pact to switch Europe's focus from austerity to promoting growth, said he had achieved satisfaction at the summit and would now submit the treaty to parliament for ratification.

While Hollande could claim a step forward in "solidarity", Merkel achieved little immediate progress on her demands for EU authorities to be given the power to override national budgets and economic policies. The issue was kicked down the road to October, when top EU officials led by Van Rompuy will deliver a more detailed report.

CAUTIOUS OPTIMISM

Economists applauded both the short-term measures to steady markets and the longer-term direction, saying that for once, after 20 summits since the crisis began in early 2010, euro zone leaders had exceeded admittedly low expectations.

"I think the ECB being made the banking supervisor is actually the biggest long-term step because it points the way to banking union," said Megan Greene, analyst at Roubini Global Economics, which is often gloomy about the euro zone's future.

"The move to recapitalise banks directly is a big deal and will help to break the ‘vicious circle' between banks and sovereigns that has been at the very heart of this crisis," said ABN AMRO economist Nick Kounis, although he added that the euro zone remained "in a muddling-through scenario".

The ESM's ability to inject capital directly into banks will come too late to help Spain recapitalise its debt-laden lenders immediately this year, but it should allow Madrid to remove the cleanup from state books next year, euro zone officials said.

Merkel said finance ministers would have to work out whether the state or the banks would be legally responsible for repayment of the loans thereafter.

Some analysts were more sceptical about the benefits of the deal, given the level of detail left open.

Ireland, which had to take an EU/IMF bailout in 2010 after suffering a similar bank meltdown and property bust to Spain, hailed the decisions as a "game changer", saying it would seek similarly favourable conditions for its own taxpayers.

(Additional reporting by Jan Strupczewski, Julien Toyer, John O'Donnell, Catherine Bremer and Francesco Guarascio in Brussels. Writing by Noah Barkin and Paul Taylor, editing by Mike Peacock)



McIlroy avoids more weekend woe - ESPN.co.uk

Leaderboard

Rory McIlroy avoided falling into the trap of a fifth missed cut in six starts with a 69 at the Irish Open on Friday.

The world No. 2, playing in his native Northern Ireland, moved to five-under overall at Royal Portrush. He is in a share of 17th; the top 65 and ties go through to the final 36 holes.

Playing in his final event before the Open Championship next month at Royal Lytham & St Annes, McIlroy will be glad of the chance to get four completed rounds under his belt.

He shot a 61 at Portrush as a 16-year-old - but, at the first staging of the event in Northern Ireland since 1953, he has largely been below his best in front of an expectant home crowd.

Starting on the back nine on Friday, he birdied the par-five tenth, as well as the par-fours at 12 and 16, with one bogey before reaching the turn. That was a promising platform for the Ulsterman, but he could not finish his round with much of a flourish, signing for a one-under front nine.

Nonetheless, despite having previously criticised links golf, he proved he can navigate windy conditions by battling hard in County Antrim, which is sure to serve him well at the Open.

Meanwhile, Darren Clarke, who will be defending the title at Royal Lytham, used the familiarity of the surroundings - he owns a house close to Portrush - to propel him to a 69 (four-under overall). The Ulsterman's season has mostly been a miserable one, so this was a welcome turnaround: he played the back nine in three-under, then the front nine in level par, with two bogeys and two birdies.

Lorenzo Gagli, the world No. 211 from Italy, was the clubhouse leader at ten-under midway through day two, having posted a 66.

Two other Irish major winners in the field, Padraig Harrington and Graeme McDowell, will start their rounds later on Friday.

© ESPN EMEA Ltd


No recession respite as UK services stagnate - Reuters UK

No recession respite as UK services stagnate - Reuters UK

LONDON | Fri Jun 29, 2012 6:45pm BST

LONDON (Reuters) - Britain's dominant service sector stagnated in April and an extra holiday and festivities for the Queen's Diamond Jubilee failed to lift consumers' spirits, data showed on Friday, giving little hope of an escape from recession in the second quarter.

The gloomy news strengthens expectations the Bank of England will restart its printing presses when it meets next week and provide further stimulus to an economy that sank back into recession around the turn of the year.

Output in the services sector -- which ranges from banks to hotels to airlines and accounting for some three quarters of output -- was flat on the month after growing 0.6 percent in March, the Office for National Statistics said, offering the first official glimpse of how the sector fared in the second quarter.

"Flat services output in April is another blow to hopes that the economy may have avoided further contraction," said Howard Archer at IHS Global Insight.

The central bank has warned that the economy may shrink again in the current quarter because the extra holiday for the Jubilee would hit manufacturers and many service firms' output.

Purchasing managers' surveys are a bit more upbeat than the data. They suggest that Britain's service sector grew at a steady pace in May but manufacturing output braked sharply. Reports for June next week are expected to paint a similar picture.

But after a shock contraction in the first three months of 2012 pushed the economy back into recession economists see tepid growth ahead at best, with only a mild bounce next quarter from London's hosting of the Olympic Games and the subsequent tourism and ticket sales.

Faced with a struggling economy the Bank is expected to flood the market with another 50 billion pounds of cash next week as falling inflation gives it more room to manoeuvre.

BLACK CLOUD

Having slashed rates to rock bottom the Bank has already pumped 325 billion pounds into the economy through its quantitative easing asset-buying programme, designed to stimulate growth by cutting long-term lending costs.

But bank governor Mervyn King has warned that a "black cloud of uncertainty" was keeping businesses and consumers from spending, while driving up banks' funding costs.

"Uncertainty and tighter credit conditions have acted as strong headwinds to our recovery," King said in a media conference presenting the BoE' financial stability report.

The central bank said regulators would ease liquidity requirements for banks, in order to allow for more lending. In addition the government and the central bank are launching a scheme to provide cheaper funding to banks.

The government and the Bank hoped falling inflation, which eased to 2.8 percent in May, would provide more households with the scope to increase spending this year but the main drag on services output was a 2.4 percent slump in retail output.

Britons have been cutting back spending in the wake of the 2008/2009 slump after unemployment rose and high inflation ate away meagre wage increases while unusually cold and wet weather in April kept shoppers from buying summer clothes.

Consumers were more amenable to buying bigger items such as furniture or electrical goods this month but their assessment of the economic outlook worsened, a survey showed.

Researchers GfK NOP's headline consumer confidence index held steady at minus 29 in June. "The stagnant level of consumer confidence suggests that the public is stuck in a period of constant depression," said Nick Moon, managing director of GfK NOP Social Research.

Britain's biggest department store group John Lewis meanwhile continued to defy the gloom, posting another strong rise in weekly sales, driven by strong demand for technology products and the start of its clearance sale.

(Additional reporting by Sven Egenter. Editing by Jeremy Gaunt.)



Congress, BJP can’t connect with young Indian voters - Gulf News

The Bhartiya Janata Party (BJP) seems to have a tryst with doom. In the wake of scams and scandals in the Congress-led United Progressive Alliance (UPA) government, the BJP was gaining ground. Its performance in parliament was comparatively better and its younger leadership assertive. But once again old Rashtriya Swayamsevak Sangh (RSS) men have brought the party back to square one.

First, Gujarat Chief Minister Narender Modi crossed swords with Bihar Chief Minister Nitish Kumar on the concept of secularism. Then the RSS played the Hindutva card. Both have scotched even the remotest chance of the BJP returning to power. Modi, a person who has his hands tainted with the blood of Muslims, cannot be projected as India’s next prime minister.

The BJP has, by and large, remained quiet. One of its leaders spoke out of turn and questioned the very concept of secularism, but he was hushed up quickly. It seems that the party did delude itself with the idea that the Hindu voters were beginning to own the RSS philosophy. The BJP should have learnt the lesson in 2009 when it was all set to win, but lost to the Congress.

Political parties, including the Congress, do not understand the mostly young new electorate. It is liberal in outlook and hates to mix religion with politics. This was the ethos that the nation adopted during the independence struggle and after freedom under the leadership of Mahatma Gandhi, Jawaharlal Nehru and Maulana Abdul Kalam Azad.

True, regional chauvinism is rearing its ugly head. This is because the Centre looks confused when it comes to policies which demand secular credentials. Receiving little feedback from the field, New Delhi continues to monopolise power and fails to appreciate that decentralisation would infuse life among the people in a state. Regional aspirations have gained a new edge and the locals are fired with confidence that they can sort out their problems themselves and find a consensus quicker than a remote New Delhi can.

This is the reason why parties like the Trinamool Congress and Samajwadi Party won in West Bengal and Uttar Pradesh respectively. The voters found the parties closer to them and more sympathetic to their problems. Even if these regional parties do not give them a better administration the people are not likely to go back to all-India parties which they have found failing them again and again. They may try another party within the region because they are getting convinced that all-India parties are not an answer to their problems of appalling living conditions.

The idea of India may be pushed further into the background. There may be insurgents and separatists in certain areas to assert the identity of their caste or community, believing that, in the affairs of all-India politics, they may get lost. Much would depend on how New Delhi handles the situation. The Sarkaria Commission on Centre-State relations has become outdated. Had its recommendations been implemented when the report came out more than two decades ago, the demand by the states to have more powers might not have arisen. The Centre has to curtail the subjects it has, either voluntarily or through a Constitutional amendment. Apart from defence, foreign affairs and overall financial planning, New Delhi should not have more subjects. Once it decentralises its power it should ensure that the decentralisation goes all the way, from the state capital to the district and then to the Panchayat so that people themselves participate in governance.

The Congress, the BJP and the Left would have problems. The Left does not seem to bother because it is dictatorial in its working. The CPM ousted a member from the party even though he had resigned after supporting Pranab Mukherjee, the Congress Party’s presidential candidate. Yet both the Congress and the BJP need to handle their members carefully. Even when a state chief minister speaks out of turn, he has to be brought around as has been the case with Chief Minister Prithviraj Chavan, although he is a creature of Congress president Sonia Gandhi.

The BJP faces a bigger problem because it rules in twice the number of states as the Congress does. Leave Modi apart — he is a bull in the China shop — the chief ministers in Madhya Pradesh, Chhattisgarh and Karnataka are too tall to tame. They are leaders of their own communities and command wide influence.

Both parties would have great difficulty for the 2014 election, first in choosing the top person and then tackling him or her. Take for example the BJP, it is already wooing Vasundheraraje Scindia, former chief minister, who thumbed the party and stayed in the wilderness because she was sure that the central BJP would one day come to her and accept her authoritarian leadership.

Problems of the Congress on this count are negligible. Sonia has all the authority. That Rahul Gandhi, her son, should be nominated as number two has already been done. There is no dissidence and she alone, more so after the departure of Pranab Mukherjee, has the confidence of allies in the UPA she chairs.

The BJP would need more and more assistance of RSS to sort out difficulties with the state leaders. Realising this, RSS chief Mohan Bhagwat has announced that Modi has all the qualifications to become India’s new prime minister. However, this has naturally infuriated the BJP’s main ally, Janata Dal (United). Its President Sharad Pawar has said that if Modi is the prime minister candidate, the JD (UP) would quit the BJP-led National Democratic Alliance (NDA).

What is wrong with having a Hindutva prime minister, questions Bhagwat. This question itself shows how RSS lives in a world of it own and does not face the reality of secular India. For the BJP, already a divided house, the confusion is more confounded. It realises that the country can never be ruled through a communal agenda. Even former prime minister Atal Behari Vajpayee realised this and always put his liberal foot forward. He refused to oust his principal secretary Brijesh Mishra despite the pressure of RSS. But then the BJP’s problem is that it does not have a tall person like Vajpayee to withstand the pressure of RSS.

— Kuldip Nayar is a former Indian high commissioner to the United Kingdom and a former Rajya Sabha member.



McIlroy avoids more weekend woe - ESPN.co.uk

Leaderboard

Rory McIlroy avoided falling into the trap of a fifth missed cut in six starts with a 69 at the Irish Open on Friday.

The world No. 2, playing in his native Northern Ireland, moved to five-under overall at Royal Portrush. He is in a share of 17th; the top 65 and ties go through to the final 36 holes.

Playing in his final event before the Open Championship next month at Royal Lytham & St Annes, McIlroy will be glad of the chance to get four completed rounds under his belt.

He shot a 61 at Portrush as a 16-year-old - but, at the first staging of the event in Northern Ireland since 1953, he has largely been below his best in front of an expectant home crowd.

Starting on the back nine on Friday, he birdied the par-five tenth, as well as the par-fours at 12 and 16, with one bogey before reaching the turn. That was a promising platform for the Ulsterman, but he could not finish his round with much of a flourish, signing for a one-under front nine.

Nonetheless, despite having previously criticised links golf, he proved he can navigate windy conditions by battling hard in County Antrim, which is sure to serve him well at the Open.

Meanwhile, Darren Clarke, who will be defending the title at Royal Lytham, used the familiarity of the surroundings - he owns a house close to Portrush - to propel him to a 69 (four-under overall). The Ulsterman's season has mostly been a miserable one, so this was a welcome turnaround: he played the back nine in three-under, then the front nine in level par, with two bogeys and two birdies.

Lorenzo Gagli, the world No. 211 from Italy, was the clubhouse leader at ten-under midway through day two, having posted a 66.

Two other Irish major winners in the field, Padraig Harrington and Graeme McDowell, will start their rounds later on Friday.

© ESPN EMEA Ltd


'Devastated' Cook gives up on Olympic dream - ESPN.co.uk

Aaron Cook has finally given up on his dream of competing at London 2012, announcing on Friday that he will not take his case against the British Olympic Association [BOA] to the High Court.

Cook was left out of the Team GB Olympic squad by British Taekwondo, a move Cook has always maintained was due to his decision to prepare outside of the system.

The world No. 1 at the -80kg weight category had hoped the BOA could step in and order Cook's selection, but the governing body did not feel it right to do so. Cook has since asked for his case to be heard at the Court of Arbitration for Sport [CAS], but the BOA rejected the request.

That left Cook with only one remaining option, to take his case to the High Court, but both time and funding is against him. An emotional statement has now confirmed he will give up his fight.

"After careful consideration over the last few weeks, and despite my representatives advising me that I still had a good chance of successfully overturning the BOA's ratification of Great Britain Taekwondo's decision not to select me for London 2012, I have decided not to take my case against the BOA to the High Court," Cook said.

"The financial implications for me, and, more importantly, for my parents, of doing so are too prohibitive.

"I am really disappointed that the BOA did not agree to my case being heard at the Court of Arbitration for Sport. It is the specialist forum for sports-related matters. The High Court is significantly more expensive, time-consuming and does not have the experience or expertise in dealing with sports-related disputes.

"The World Taekwondo Federation [WTF] is currently conducting a review of British Taekwondo's selection process. It has already publicly stated that the selection process has brought the sport into disrepute due to a perceived lack of transparency.

"I welcome this investigation but I am hugely disappointed that the WTF has now indicated that it will not finalise the review and findings in time for London 2012. This is particularly disappointing as the BOA had reserved the right to reconsider its decision to ratify Great Britain Taekwondo's nomination in light of the WTF's findings.

"In the best interests of Team GB, I have decided not to take up the offer to be first reserve for London 2012. Clearly it would be hugely difficult for me to work with their coaches in view of what has happened in the last few weeks. I wish all of the athletes the very best of luck - that includes Lutalo Muhammad.

"I love my country. I love my sport. I don't think that I could have done any more in terms of my performance. I will sit down with my team though and consider my best way forward in the coming months.

"I have nothing more to say at this stage. I will not be doing any media interviews. The Olympics, and especially a home Olympics, would have been the pinnacle of my career. I feel totally devastated."

© ESPN EMEA Ltd


BlackBerry to make 5,000 job cuts and delays phone launch - Marketing

[getrss.in: unable to retrieve full-text content]

BlackBerry maker Research in Motion (RIM) is to axe 5,000 jobs from its global workforce as it reveals a further delay of the launch of its next generation of smartphones. The swingeing jobs cuts which are expected to run across the business represent 30% ...

EU deal for Spain, Italy buoys markets but details sketchy - Reuters UK

BRUSSELS | Fri Jun 29, 2012 7:50pm BST

BRUSSELS (Reuters) - Under pressure to prevent a catastrophic breakup of their single currency, euro zone leaders agreed on Friday to let their rescue fund inject aid directly into stricken banks from next year and intervene on bond markets to support troubled member states.

They also pledged to create a single banking supervisor for euro zone banks based around the European Central Bank in a landmark first step towards a European banking union that could help shore up struggling member Spain.

"It is a first step to break the vicious circle between banks and sovereigns," European Council President Herman Van Rompuy told a final news conference after talks which stretched right through the night.

The deal was widely seen as a political victory for embattled Italian Prime Minister Mario Monti and his Spanish counterpart, Mariano Rajoy, over German Chancellor Angela Merkel, who had brushed aside any need for such emergency measures earlier this week.

ECB President Mario Draghi endorsed the "tangible results", which sent the euro nearly 2 percent higher and sharply cut Spanish and Italian bond yields. European shares rose, led by banking stocks buoyed by the prospect of moves to backstop the financial system.

"I am actually quite pleased with the outcome of the European Council. It showed the long-term commitment to the euro by all member states of the euro area," Draghi told reporters.

Market participants welcomed the outcome as a substantial step to restore confidence in the 17-nation euro zone, which was saluted by a more durable rally than previous summit outcomes.

"It's inching closer to a banking union, and the closer we get to a banking union would put (the EU) well on the road to a fiscal union," said Art Hogan, managing director of Lazard Capital Markets in New York.

Most economists polled by Reuters expect the ECB to cut borrowing costs at its July 5 meeting, which takes place against a darkening economic backdrop. But internal resistance to the central bank reviving its bond-buying programme remains high.

After 14 hours of tense talks that ended at 4.30 a.m. (0230 GMT), the 17 leaders agreed on a series of short-term steps to shore up their monetary union and bring down the borrowing costs of Spain and Italy, seen as too big to bail out.

To that end the euro zone's temporary EFSF and permanent ESM rescue funds will be used "in a flexible and efficient manner in order to stabilise markets" to support countries that comply with EU budget policy recommendations, a joint statement said.

It gave few specifics, but euro zone officials said the funds could buy bonds on both the primary and secondary markets on the basis of a memorandum of understanding signed with the requesting state and up to a funding limit to be agreed.

Both Italy and Spain said they did not intend to call on that mechanism to stabilise markets for now, hoping the Brussels agreement will serve as a sufficient deterrent.

Washington said it was encouraged by the progress but White House press secretary Jay Carney told reporters travelling with President Barack Obama that "a lot of details" still needed to be worked out, and the euro zone was likely to need to take further steps in the future.

The International Monetary Fund said the summit had taken "the right steps toward completing monetary union" while ratings agency Fitch said the deal eased near-term pressure on euro zone sovereign ratings.

UNTHINKABLE DECISIONS

In a key concession by EU paymaster Germany, the leaders agreed to waive the ESM's preferred creditor status on lending for Spanish banks, removing a key deterrent to investors buying Spanish government bonds, who feared having to take the first losses in any debt restructuring.

"We have taken decisions that were unthinkable just some months ago," European Commission President Jose Manuel Barroso said.

Despite the concessions by Berlin allowing euro zone rescue funds to be used more flexibly, questions remained about the terms, size and supervision of any future aid for Spain and Italy.

There was also no commitment for now to back up a European bank supervisor with a joint deposit guarantee or a common resolution fund, to avert capital flight and taxpayer losses. However, one EU official said that letting the ESM lend directly to banks once the supervisory body is up and running was a backdoor route to closer fiscal union.

Monti, determined to avoid the political stigma of the bailout terms imposed on Greece, Ireland and Portugal, said countries that complied with EU budget recommendations would not face extra austerity conditions or be subject to intrusive inspections by a "troika" of international lenders.

Eager to avoid the impression that she had blinked first, Merkel said strict conditionality would still apply to the use of rescue funds and countries would face stringent monitoring by the EU Commission and the ECB.

Asked if she had yielded to pressure, she said: "There is clearly pressure from financial markets. Some countries are in a difficult situation. The high interest rates affect the debt but also the real economy. We had an interest in finding solutions."

Merkel reaffirmed her firm opposition to common euro zone bonds.

The Spanish and Italian leaders had threatened to block a package of measures to promote growth to pressure her to accept measures to ease their borrowing costs, delaying the talks.

New French President Francois Hollande backed their calls for bold steps to help the bloc's third and fourth biggest economies, adding to the pressure on Merkel.

Hollande, who had demanded a renegotiation of the fiscal pact to switch Europe's focus from austerity to promoting growth, said he had achieved satisfaction at the summit and would now submit the treaty to parliament for ratification.

While Hollande could claim a step forward in "solidarity", Merkel achieved little immediate progress on her demands for EU authorities to be given the power to override national budgets and economic policies. The issue was kicked down the road to October, when top EU officials led by Van Rompuy will deliver a more detailed report.

CAUTIOUS OPTIMISM

Economists applauded both the short-term measures to steady markets and the longer-term direction, saying that for once, after 20 summits since the crisis began in early 2010, euro zone leaders had exceeded admittedly low expectations.

"I think the ECB being made the banking supervisor is actually the biggest long-term step because it points the way to banking union," said Megan Greene, analyst at Roubini Global Economics, which is often gloomy about the euro zone's future.

"The move to recapitalise banks directly is a big deal and will help to break the ‘vicious circle' between banks and sovereigns that has been at the very heart of this crisis," said ABN AMRO economist Nick Kounis, although he added that the euro zone remained "in a muddling-through scenario".

The ESM's ability to inject capital directly into banks will come too late to help Spain recapitalise its debt-laden lenders immediately this year, but it should allow Madrid to remove the cleanup from state books next year, euro zone officials said.

Merkel said finance ministers would have to work out whether the state or the banks would be legally responsible for repayment of the loans thereafter.

Some analysts were more sceptical about the benefits of the deal, given the level of detail left open.

Ireland, which had to take an EU/IMF bailout in 2010 after suffering a similar bank meltdown and property bust to Spain, hailed the decisions as a "game changer", saying it would seek similarly favourable conditions for its own taxpayers.

(Additional reporting by Jan Strupczewski, Julien Toyer, John O'Donnell, Catherine Bremer and Francesco Guarascio in Brussels. Writing by Noah Barkin and Paul Taylor, editing by Mike Peacock)



RPT-NEWSMAKER-No apologies Barclays boss Diamond fights for his job - Reuters UK

RPT-NEWSMAKER-No apologies Barclays boss Diamond fights for his job - Reuters UK

Fri Jun 29, 2012 8:00am BST

(Repeats item first run on Thursday)

By Steve Slater

LONDON, June 28 (Reuters) - Barclays boss Bob Diamond, who once said it was time for bankers to stop apologising, is fighting to save a career built on inspiring leadership and aggressive competition after regulators exposed a market rigging scandal on his watch.

Only last year, for which Diamond took home 17 million pounds, he thumbed a nose at politicians for attacking bankers' role in the financial crash of 2008-09.

"There was a period of remorse and apology for banks and I think that period needs to be over. We need our banks (to be) willing to take risks ... so we can create jobs," he told a British parliamentary committee.

However, authorities have found that Barclays traders rigged the Libor interest rate from 2005 to 2009 while Diamond headed the British bank's investment banking operations.

Now the Anglophile American, who rose to the top job at Barclays last year, is having to show a little more humility. "I am sorry that some people acted in a manner not consistent with our culture and values," he said in a statement on Wednesday announcing he would forgo his 2012 bonus.

British and U.S. regulators have fined Barclays $450 million for the scandal and Diamond's job is on the line.

"It's for the board to decide whether Bob Diamond - who has amazing leadership qualities and huge personal following in the organisation - whether he can be the person to turn the page on this or whether he is part of the problem," said Martin Taylor, who was Barclays chief executive from 1994 to 1998.

"If you go in for a policy of systematic dishonesty you have some rebuilding to do. And I'm sure the board will be very conscious of that," Taylor told BBC Radio on Thursday.

As recently as eight months ago Diamond argued that his industry could contribute to society by promoting economic growth and jobs. "To the question 'can banks be good citizens?' the answer must be 'yes'," he said in a lecture.

Diamond admitted that many people would not believe him, but said bankers had changed their ways since the crash and he had made citizenship one of his management team's priorities.

"Would I have chosen citizenship as a key priority five years ago? I doubt it. Events of the past few years have caused me to change my mind," he said.

Five years before he gave this lecture was precisely when Barclays traders were rigging the London interbank offered rate, which underpin about $360 trillion of loans and financial contracts.

AGGRESSIVE CULTURE

Robert E. Diamond, 60, is one of the world's highest profile bankers and no stranger to controversy after years of fat bonuses paid for what his critics call "casino banking".

Diamond and other bosses at the 322-year-old Barclays need to answer "serious questions", British Prime Minister David Cameron said. Barclays shares have crashed 15 percent.

Four months ago Barclays was also accused of running "highly abusive" tax avoidance schemes, and all British banks have been hit by a multi-billion-pound insurance mis-selling controversy.

Scrutiny in the coming days is likely to focus on how much senior management knew, and how far company culture was to blame. Diamond instilled a remarkable culture at Barclays Capital, the bank's investment banking arm.

"Bob runs an extraordinarily competitive and aggressive ship, and that is one reason why Barclays Capital has been so successful in the first decade of the century," said former CEO Taylor, who was sat on a commission that proposed far-reaching reforms for all UK banks this year.

"When people are pushed to go to the limit - you know what traders are like - they sometimes go beyond it. They don't need to have an instruction from headquarters to go beyond it, they think it is what the bank might expect perhaps."

The Concord, Massachusetts-born son of two teachers joined the bank in 1996, spending most of that time building the investment bank into a debt market powerhouse, credited with reviving it from the ashes of Barclays de Zoete Wedd (BZW).

He became an investment banker almost by accident, only entering banking after two years as a lecturer in business at the University of Connecticut. After being attracted to bond trading he joined Morgan Stanley, spending 13 years there and then four at Credit Suisse First Boston, which he left to join Barclays, reportedly after a row over pay.

Diamond missed out on the CEO's job at Barclays in 2003 and was linked with other top roles, but stayed with the London bank and in 2008 struck his boldest deal - buying the U.S. arm of stricken Lehman Brothers. That gave him an equities and advisory ability to take on Wall Street powers such as Goldman Sachs.

His bonus has long been the lightning rod for British public and political anger over bankers' excessive pay, and he was branded the "unacceptable face" of banking in 2010 by Peter Mandelson, a minister in the Labour government of the time.

STEPPING IN FRONT OF A TRAIN

Diamond is one of Europe's best paid bankers, and took home about 17 million pounds in salary, bonus and share awards for last year, prompting a backlash from investors that forced him to tweak his long-term pay award.

"No politician has ever lost a vote by bashing a bank, and these guys (at Barclays) have stepped in front of a train," said Alex Potter, analyst at Berenberg Bank.

"Diamond was already on borrowed time after the pay revolt and the tax avoidance schemes. This is starting to look like his position will be very difficult to maintain," Potter said.

Married with three children, he remains an Anglophile. After sealing the Lehman deal, he is reported to have played "God Save the Queen" over the tannoy of the bank's trading floor.

The avid sports fan and former football linebacker is a big fan of London soccer team Chelsea, to add to his beloved Boston Red Sox, Celtics and New England Patriot teams.

He often draws parallels between sports and business, and says he runs a meritocracy and rewards success, touring the dealing room and talking to the players. (Additional reporting by Robin Emmott in Brussels; editing by David Stamp)



South Korea shelves disputed military pact with Japan - Reuters

SEOUL | Fri Jun 29, 2012 3:44am EDT

SEOUL (Reuters) - South Korea postponed on Friday the signing with Japan of an agreement to share sensitive military information in the face of anger over a pact with a former colonial ruler that critics say was negotiated behind the scenes.

The agreement would have boosted the sharing and protection of data between the two main Asian allies of the United States, in particular on North Korea which is pursuing weapons of mass destruction as it transitions to a new leadership.

While economic ties and cultural exchanges between Japan and South Korea have flourished in recent years, the two economic powerhouses are tangled in a dispute over remote rocky islands while old animosity in South Korea towards Japan runs deep.

"The government is trying to hand deliver this country's classified military intelligence to the Japanese Self Defense Forces," Lee Hae-chan, leader of the liberal opposition Democratic United Party, told a rally at parliament.

The postponement follows growing political pressure on the government of President Lee Myung-bak, which has acknowledged that it had been less than transparent in negotiating the pact that was always likely to touch a nerve with many Koreans.

Japan ruled Korea as a colony from 1910 until the end of the World War Two.

Among the issues that still anger South Koreans is the question of the proper recognition and compensation for Korean women abducted during the war to be used as sex slaves for Japanese soldiers.

Japan says the issue was closed under a 1965 treaty establishing diplomatic ties.

A South Korean Foreign Ministry official said the pact would be signed after more consultations.

"We have recognized the need to hold discussions with parliament and will be pursuing the signing of the agreement subsequently," the official said.

The pressure on the government to take a step back grew when the conservative, pro-government New Frontier Party called for the pact to be put on hold.

(Editing by Robert Birsel)