KATYUSHA ROCKET HITS GALILEE

DANIEL 7:23-24
23 Thus he said, The fourth beast(THE EU,REVIVED ROME) shall be the fourth kingdom upon earth,(7TH WORLD EMPIRE) which shall be diverse from all kingdoms, and shall devour the whole earth, and shall tread it down, and break it in pieces.(TR BLOCKS)
24 And the ten horns out of this kingdom are ten kings that shall arise:(10 NATIONS) and another shall rise after them;(#11 SPAIN) and he shall be diverse from the first, and he shall subdue three kings.(BE HEAD OF 3 KINGS OR NATIONS).

Luxembourg PM rejects Blair as EU president By ROBERT WIELAARD, Associated Press Writer – Tue Oct 27, 1:37 pm ET

BRUSSELS, Belgium – Luxembourg's premier spoke out Tuesday against former British Prime Minister Tony Blair's candidacy to become the European Union's first-ever president.Premier Jean-Claude Juncker said Blair's support for the invasion of Iraq and his aloofness from Europe — he kept Britain out of the euro and the EU's visa-free travel zone — disqualified him from the top EU job.Juncker did not nominate himself for the position but did not discourage others from doing so.If the call went out to me,he told the French daily Le Monde,I would have no reason to refuse to listen.The EU leaders, at a meeting in Brussels on Thursday and Friday, will discuss who should fill the top jobs of a new EU that is emerging from a treaty to streamline decision-making in the 27-nation bloc.A final decision, also on the future EU foreign minister, may not be announced until December.On Tuesday, the Czech Republic's Constitutional Court postponed a ruling on whether the EU reform treaty complies with the nation's constitution. Supporters of President Vaclav Klaus, an ardent euro-skeptic, have asked for such a ruling, holding up final ratification of the pact that the other 26 EU nations have already approved.The leaders of Britain, France and Germany back Blair, who was Britain's prime minister from 1997 to 2007, for the job of chairing European Council meetings and representing the EU to the outside world.

But the Dutch, Belgian and Luxembourg governments say he lacks enthusiasm for more European integration.The (EU) president must be able to take on board the plans, ideas and dreams of countries large and small (and) facilitate the Franco-German cooperation that has long been the bedrock of the EU, Juncker told Le Monde.In recent weeks, other names have been floated in opposition to Blair.They include Paavo Lipponen, a former prime minister of Finland; Herman Van Rompuy, the current Belgian prime minister; Felipe Gonzalez, a former prime minister of Spain; and Jan Peter Balkenende, the Dutch prime minister.

Czech decision on Lisbon treaty only after EU summit-The astronomical clock in Prague - the EU summit has run out of time to make the new appointments (Photo: wikipedia)HONOR MAHONY Today OCT 28,09 @ 07:06 CET

EUOBSERVER / BRUSSELS - The Czech constitutional court has indicated it will rule on whether the Lisbon Treaty is compatible with Czech national law next week, meaning EU leaders meeting in Brussels on Thursday (29 October) are unlikely to take a final decision on dividing the top jobs in the European Union.Following a hearing on Tuesday on a legal challenge by 17 conservative senators, the court said it would reconvene on 3 November, when it is likely to give its verdict.The decision leaves the EU summit to take place amid continued uncertainty about when and whether the Union will be able to make the switch to the Lisbon Treaty - a move that creates new EU president and foreign minister posts and determines the future shape of the European Commission, whose current mandate expires on Saturday.All member states have approved the treaty except the Czech Republic whose president Vaclav Klaus has said he will not complete ratification until the court has had its say.The Swedish EU presidency, which has been hoping for a decisive names-for-posts summit so it can concentrate on policy issues instead, said it needs clarity from Prague first. We cannot begin the consultations [on the names] until we have legal clarity. If we obtain legal clarity, then there is time for consultations and a first debate,said Swedish Europe minister Cecilia Malmstrom on Monday, with the momentum for a decision growing since Luxembourg leader Jean-Claude Juncker indicated he would like to be chosen as first occupant of the European Council president post.These decisions may be put off to an extra summit in November.

Czech demands

Instead this week's traditional autumn summit of EU leaders will have to deal with the minutiae of an eleventh hour call by President Klaus for his country to be exempted from the rights charter contained in the Lisbon Treaty.Mr Klaus made the surprise demand earlier this month arguing that adoption of the Charter would leave his country open to property demands by ethnic Germans expelled from Czechoslovakia under the so-called Benes Decrees after World War II.The Czech move prompted Slovakia to say they would veto any solution for Prague if they do not get the same treatment.Even though the Benes Decrees aren't in use in practice and can't be used, they are part of the legal system of the Czech Republic and Slovakia ...and the legal protection for Slovakia and its public can't be lower than is the case in the Czech Republic,said Slovak foreign minister Miroslav Lajcak on Monday.The Slovak stance then led to a retaliatory statement from Hungary. Budapest has cool relations with Bratislava following a 2007 decision by the country to reaffirm the Benes Decrees, which also led to the expulsion of Hungarians from the then Czechoslovakia. Relations are also strained over Bratislava's treatment of the ethnic Hungarians in Slovakia.Hungarian foreign minister Peter Balazs threatened to block the Czech compromise if there is one word about the Benes Decrees.Mr Balazs' spokesperson told EUobserver that the country has four demands, including that the Czech text should not have any reference to the past or any reference to national legislation ...and it should only concern the member state where ratification is still ongoing.

For its part the Czech government indicated the proposed solution will be as bland as possible. Czech Europe minister Stefan Fuele said Monday that the Benes decrees will not be mentioned in the opt-out text.In our proposal we will not refer to any concrete part of our legislation,Mr Fuele said, according to Ceske Noviny.He indicated that a possible solution would be to simply add the name of the country alongside Poland and the UK which are also exempt from the Charter of Fundamental Rights, but for different reasons.The discussions on the Czech opt out which are set to run into the summit are taking place even though most analysts agree the charter will not lead to the property claims Mr Klaus says he fears.

Climate activists shut down EU business conference-Climate Alarm activists hang a banner outside the Charlemagne building (Photo: Leigh Phillips)LEIGH PHILLIPS
Today OCT 28,09 @ 16:38 CET

EUOBSERVER / BRUSSELS - British-style climate camp activists shut down the annual conference of the Confederation of European Business in Brussels on Wednesday (28 October) morning, occupying and blockading the European Commission building where industrialists were due to talk about global warming.The new group, Climate Alarm, accused the EU executive of getting into bed with the businesses sponsoring the conference, which include Shell, Daimler and Arcelor-Mittal, companies it says are some of the worst carbon emitters in the world.Corporate lobbyists have no role to play in deciding how to deal with the climate crisis,said spokeswoman Anna Martin.

[These firms] all lobby hard to obstruct strong action on climate change ...At the same time, they have made windfall profits from a failing carbon market.A few dozen youthful campaigners from the Netherlands, Belgium and Germany swooped into the commission's Charlemagne building a few minutes before 9.00 am local time. EU officials had lent the building to the employers' group, also known as Business Europe,for free for the duration of the conference.Some protesters chained the entrance closed while others deliberately trapped themselves inside the large glass revolving doors by jamming wooden door stops into its base, preventing any delegates from entering.This is the second time the European Commission has hosted Business Europe's annual conference. It shows how close the EU institutions are to business when it comes to climate change,Ms Martin told EUobserver.Such radical direct action has been on the increase over the last couple of years in the UK, where activists have occupied or tried to disrupt two coal-fired power stations and block the extension of Heathrow airport. In April this year, activists blocked streets in London's financial district to protest the EU emissions trading scheme.But the blockade on Wednesday, which lasted two hours before police used pepper spray to disperse some of the activists and arrested 20, was the first time climate campers had taken such action in the European capital.The major environmental NGOs and development groups in Brussels regularly engage in showpiece stunts outside the EU buildings. On the same day, in an Oxfam action, hundreds of miniature tents were set up in Brussels Central Station as well as in London, Berlin, Dublin and Madrid to symbolise the plight of climate refugees, while Action Aid campaigners are to hammer on the doors of the European Summit of premiers and presidents on Thursday.The events are almost always carefully co-ordinated with police and building security. But the Climate Alarm action was not authorised by the Brussels police, which the campaigners believe is why the police took the unusual step of using pepper spray.

The activists, who formed the new organisation at a climate camp on the Belgian-Dutch border this summer, are linked to Climate Justice Action (CJA), a wider global network of groups with a strong presence from NGOs in the developing world, which say that emissions reductions targets do not match what scientists are demanding and that the range of climate solutions on offer actually exacerbates global warming and only benefits business.Emissions trading, carbon capture and storage, carbon offsets, biofuels and nuclear power - embraced by the EU and to a lesser degree by some of the more mainstream green outfits as the main strategies to tackle climate change - have been denounced by CJA as false solutions.They also say that industrialised countries owe an environmental debt to developing countries for creating the climate crisis.

Climate change is everyone's business

The action managed to prevent a crowd of some 200 delegates from entering the building. Hans Korteweg, a senior manager with Foratom, the European Atomic Forum, told this website: One of their banners says: Our climate is not your business,but climate is everyone's business, including business.Business absolutely has a role to play - we have the solutions available, the technology we can transfer and the money to invest,he added.They should come into the meeting and debate, not shut it down.
Enzo Gatta, the industrial affairs committee chairman of Business Europe was furious: It's just unbelievable. I really don't understand this. We have enormous amounts of money to invest.It's not about lobbying. There is already worldwide acceptance that emissions must be reduced. There is no serious debate on this anymore. Now it is just a question of co-ordination. That is what is being discussed.A bemused researcher on energy and transport from Italy's National Research Council, who was also stuck outside, was more relaxed about the situation. Leaning against his luggage and pulling out a packet of cigarettes, Vincenzo Antonucci said the activists had a point.It's difficult. On the one hand, what they are saying is true about the likes of Shell and Daimler, of course. This is a correct point of view. But on the other hand, even inside these companies, there are a few, some who are serious about climate change.And green energy is expensive; it's big business. The revolution isn't going to pay.

EU credibility at stake over climate financing
HONOR MAHONY Today OCT 28,09 @ 17:26 CET

EUOBSERVER / BRUSSELS – EU leaders meeting in Brussels on Thursday (29 October) face an international credibility test as they struggle to firm up their financial commitment to fighting climate change.The meeting comes a few weeks ahead of a gathering in Copenhagen where a global deal on reducing greenhouse gas emissions after 2012 - when the current Kyoto set-up expires - is supposed to be reached.But internally, the EU, a self-proclaimed global environmental do-gooder, is struggling for agreement, with discussions pitting rich member states against poorer ones, in a geographical split of central and eastern European countries against western ones.

Preliminary conclusions for the summit suggest that developing countries as a whole will have to pay €100 billion annually by 2020 in order to implement greenhouse gas-cutting strategies, while the overall level of the international public support required is estimated to lie in the range of €22 to €50 billion per year by 2020.But there is no mention of how much money the European Union should put into the international kitty.This reflects a tactical difference of opinion among governments about when the EU should reveal its hand.While Britain, Denmark and the Netherlands want the EU's financing position to be made clear, Germany particularly has been much more reluctant to speak of concrete figures so long as the US and others remain silent.The climate change discussions have also thrown up a more fundamental split in the EU about how each member state should contribute to the overall figure and, until this is settled, say diplomats, the bloc will not be able to name a sum.The division is over what criterion to use for sharing the financial burden, the wealth of a nation (GNI) or how much it pollutes.Basing it on GNI rather than on emissions would make it three times more expensive for Europe, one EU diplomat noted.But an emissions-based criterion would mean central and eastern European countries would have to dig deeper into their pockets.A group of nine new member states, led by Poland, is refusing this option and, so far, another solution based on a mixture of the two.The Poles are absolutely opposed to setting a figure if there is no agreement on how to get there,noted an EU diplomat. An EU finance ministers meeting last week - where Warsaw ruffled feathers with its negotiating style - became stuck on the issue. The meeting eventually broke up in bad humour and the question now rests with EU leaders.

Hot air

There is also disagreement over what to do with pollution credits achieved by differences in emissions compared to commitments made under the current Kyoto Protocol. Known informally as hot air,or more formally as Assigned Amount Units, new member states hold around 2 billion of them.If a company is producing 100 tonnes of CO2, then a country will cap the production at 80 tonnes. If the company is able to reduce the production to 70 tonnes, then the remaining 10 tonnes can be traded in the form of AAU units.They consider them bankable,said an EU diplomat, referring to future financial commitments in the environment area. However, releasing them suddenly would flood the carbon market, while some governments feel that these credits should simply be forgotten and the slate wiped clean as Europe looks ahead to make a new climate deal.How the EU decides to proceed on the credits issue will be closely watched by Russia and Ukraine, also holders of many hot air credits, while the European Union will find it harder to argue for global financial commitments mainly based on emissions at the Copenhagen meeting if it does not have a similar system agreed for itself internally.Additionally, developing countries, who say they are being forced to pay for the pollution caused by rich counties, are looking for a clear political signal from the EU that it will indeed stump up the cash ahead of the Copenhagen summit.Failure to come out of the European Council with some clarity, if not absolute clarity, will be damaging,an EU diplomat admitted on the eve of the discussions.

STORMS HURRICANES-TORNADOES

LUKE 21:25-26
25 And there shall be signs in the sun, and in the moon, and in the stars; and upon the earth distress of nations, with perplexity;(MASS CONFUSION) the sea and the waves roaring;(FIERCE WINDS)
26 Men’s hearts failing them for fear, and for looking after those things which are coming on the earth: for the powers of heaven shall be shaken.

Tropical Storm Neki heading north in Pacific Mon Oct 26, 11:01 am ET

HONOLULU – Tropical Storm Neki is moving north in the central Pacific with little change in strength expected.Neki's maximum sustained winds were near 40 mph Monday morning.The storm is centered about 480 miles northwest of Lihue, Hawaii, and is moving at about 18 mph.

BEHEADING IN ACTION (VIDEO)CAUTION-ISLAM HAS TO BE STOPPED
http://homelandsecurityus.com/?p=3196
PUBLIC REACTION TO BEHEADINGS
http://homelandsecurityus.com/?p=133
MUSLIM MAFIA
http://homelandsecurityus.com/?p=3178
TAMAR FILLIN
http://www.israelnationalnews.com/Radio/News.aspx/1530
http://www.israelnationalnews.com/Radio/News.aspx/1531
http://www.israelnationalnews.com/Radio/News.aspx/1532

The Taliban in Action Edit Post.By Douglas J. Hagmann, Director

26 October 2009: A little over five years ago, this web site was the first legitimate site to publish the actual videos of men and women being beheaded by Islamic terrorists. We provided our visitors with the actual films to show the horrific, nearly unimaginable brutality committed by the Talban and al Qaeda terrorists in the name of Islam. We did so to provide Americans a real world view of the satanic brutality our brave troops were fighting. Westerners in general and Americans specifically, however, seem to have short memories.Today we are providing you a video that is being proudly circulated on various Arabic language Islamic terrorist web sites showing Sharia law in action - illustrating what happens to those who dare to fight against the oppressive Islamic regime in Afghanistan.For those who have forgotten, THIS IS WHAT WE ARE FIGHTING AGAINST IN AFGHANISTAN. For those who continue to depict fundamentalist Islam as a religion of peace, THIS IS WHAT IS SANCTIONED UNDER ISLAMIC SHARIA LAW- according to their own words and shown by their own actions.While our Commander-in-Chief continues to dither with the idea of sending additional troops to Afghanistan, THIS IS WHAT IS TAKING PLACE. While Islamic apologists continue to downplay and describe such activities as exceptions, THIS IS WHAT IS TAKING PLACE.Any questions? WARNING: This video is EXTREMELY GRAPHIC & VERY DISTURBING.Video in WMV format-Beheading in America - it can (and does) happen here: Beheading in Buffalo - at a Muslim TV Station.

Katyusha Rocket Hits Galilee by Tzvi Ben Gedalyahu OCT 27,09

(IsraelNN.com) Terrorists in southern Lebanon fired a Katyusha rocket on the Upper Galilee shortly after 7 p.m. (1 p.m. EDT). No one was wounded and no damage was reported, but a fire broke out at the site of the explosion. The IDF retaliated with half a dozen rounds of artillery fire. The explosion occurred near Kiryat Shmona, and police and civil defense authorities are searching for the point of impact. Lebanese authorities confirmed that the rocket was fired from a village near the Israeli border.The rocket may have been fired by a terrorist cell not directly connected with Hizbullah. Earlier in the day, Defense Minister Ehud Barak visited the area and said, Quiet has been maintained here for nine years after many years of attacks and the painful five-week period of the Second Lebanon War.Tuesday's attack was at least the ninth since the end of the war in 2006.United Nations Interim Forces in Lebanon (UNIFIL) forces have been mandated to keep Hizbullah out of southern Lebanon as part of the ceasefire agreement to which Israel agreed to end the Second Lebanon War in August 2006.Its commanders said at the outset that they would not carry out the mandate to disarm, Hizbullah, which is estimated to have stockpiled between 60,000 and 80,000 rockets since the end of the war, more than three times the amount it possessed before it attacked Israel with more than 1,000 rockets.

Ahmadinejad: Zionist regime is a threat to all nations Tuesday, 27 October 2009 13:37News from Jerusalem Ahmadinejad calls for Israel to be Wiped of the map!!

The Zionist regime is a threat to all nations ... it cannot tolerate the existence of any strong country in the region,said Iranian President Mahmoud Ahmadinejad on Tuesday, according to Teheran news agency Press TV.Ahmadinejad spoke after welcoming Turkish Prime Minister Recep Tayyip Erdogan, who arrived in Teheran Tuesday for a two-day visit.Iran's president praised Erdogan's stance over Israeli-Palestinian conflict, saying the Turkish leader's clear stance toward the Zionist regime has had a positive impact on the world of Islam.At an international conference in January, Erdogan strongly condemned Israel's offensive in Gaza and the steep Palestinian casualties inflicted there. The Iranian leader is known for his anti-Israeli remarks since 2005, when he said the Jewish state should be wiped off the map.Ahmadinejad lashed out at Israel, which is believed to have nuclear weapons, saying that when an illegal regime has atomic weapons, it's impossible to block others from having peaceful nuclear energy.The Iranian leader was echoing statements voiced by Erdogan in the Guardian on Monday, accusing the five permanent Security Council members of hypocrisy. While these countries put pressure on Iran, which does not have a weapon, he said, they themselves keep nuclear arsenals for military purposes.During the Guardian interview, Erdogan also referred to reports saying Israel or other Western countries were planning to carry out what he termed a crazy attack against Iran in lieu of sanctions or negotiations.

On the one hand you say you want global peace, on the other hand you are going to have such a destructive approach to a state which has 10,000 years of history. It is not correct,he was quoted as saying, adding that Ankara was firm in its belief that Teheran's nuclear program was peaceful.Ahmadinejad reportedly suggested that if Turkey and Iran reinforce their unity, they will overcome serious threats and make use of opportunities in favor of their own nations.In related news, Ahmadinejad announced on Tuesday that his country would persist with its nuclear program, despite international concerns.His remarks were the first since a UN-backed draft was put forth aimed at easing tensions with the West.Iranian State TV reported later on Tuesday that Teheran opposes shipping its full stockpile of low-enriched uranium at once, and seeks changes to the UN plan.The demand for a step-by-step approach Tuesday came as the world awaited Iran's decision on the plan, which seeks to ease Western worries about the country's ability to one day create nuclear weapons.The UN plan envisages Teheran sending out most of its low-enriched stock to Russia for further processing, which would reduce its stockpile significantly and limit its potential capability to build nuclear arms.According to the plan, the higher-enriched uranium would be used to power a small medical research reactor in the Islamic republic's capital.Iran's stance on the plan has so far been unclear, and an official response from Teheran is expected on Friday.Iranian Foreign Minister Manouchehr Mottaki hinted Monday Teheran could agree to ship some of its low-enriched uranium to Russia for processing as reactor fuel - but also left the possibility open that Iran may snub the proposal altogether.The remarks came as UN inspectors were visiting a formerly secret mountainside uranium enrichment site near Qom, south of Teheran.jpost

Arab prof: Blowing oneself up OK in Tel Aviv Tuesday, 27 October 2009 07:33 News from Jerusalem OK in Tel-Aviv!!!

Suicide bombings are OK in Tel Aviv, Israel, but not in Saudi Arabia, declared a Saudi professor speaking on Arab satellite television.Someone who blows himself up amidst the enemy is different from someone who blows himself up in a safe place. Blowing oneself up in Tel Aviv is not like blowing oneself up in Riyadh, stated Saudi University professor Salman Al-Abdali on Iqra TV, an Arab educational television network.Explosive belts are legitimate when they are used against colonialist aggressors,added Al-Abdali.Let me reiterate: colonialist aggressors, who cross continents and oceans, in order to invade the lands of the Muslims.The television clip was translated into English by the Middle East Media Research Institute.The Saudi professor was speaking earlier this month, just days after Saudi Arabia denied it offered the Israel Air Force permission to fly over its territory to attack Iranian nuclear facilities.The Arab country was responding to reports claiming it had agreed to turn a blind eye and not interfere should Israel and the U.S. attack Iranian nuclear facilities through Saudi air space.WND last month quoted an Egyptian intelligence official stating Saudi Arabia was cooperating with Israel on the Iranian nuclear issue.The official said Saudi Arabia had been passing intelligence information to Israel related to Iran. He affirmed a report from the Arab media, strongly denied by the Israeli government, that Saudi Arabia has granted Israel overflight permission during any attack against Iran's nuclear facilities.

The official previously told WND that Prince Saud Al-Faisal, the Saudi foreign minister, has been involved in an intense, behind-the-scenes lobbying effort urging the U.S. and other Western countries to do everything necessary to ensure Iran does not obtain nuclear weapons. Such weapons would threaten Saudi Arabia's position of influence in the Middle East.The Egyptian official said his country believes it is not likely President Obama will grant Israel permission to attack Iran.He spoke in the past about other Arab countries' efforts to oppose an Iranian nuclear umbrella but did not comment on Egypt's own position on the matter.Egypt recently granted Israel permission to conduct naval exercises off Egyptian coastal waters. The military drills clearly were aimed at Iran.Both Egypt and Saudi Arabia, as well as other Arab countries, such as Jordan, are influenced by Sunni Islam. Those Arab countries are threatened by the growing influence of Iran, dominated by Shiite Islam.
wnd

UN team unwelcome in Tehran, Mottaki whittles down overseas enrichment plan Tuesday, 27 October 2009 06:49 News from Jerusalem Just arrived, ordered to leave? Senior Iranian MP Alaeddin Boroujerd said Monday afternoon, Oct. 26 that the UN inspectors had carried out their mission to visit a newly-disclosed uranium enrichment plant and may leave Iran later in the day.

DEBKAfile's Iranian sources report that the nuclear watchdog team were supposed to have paid a second visit to the Fordu plant near Qom in the next two days after their first trip on Sunday. So either the Iranians cut the inspectors' mission short or they were denied access to the suspected facility and aborted.Earlier, as world powers waited on tenterhooks for Tehran's reply to the IAEA director Mohamed ElBaradei's overseas enrichment proposal, Iran's foreign minister Manouchehr Mottaki came up with a new offer: There are two options on the table… either to buy it or give part of our fuel for further processing abroad.

He said a final Iranian reply would come within days.DEBKAfile's Iranian sources report: The idea Mottaki threw out was aimed at seeing how far the Islamic Republic could whittle down the original proposal to send 75 percent of its low-enriched uranium to Russia and France for conversion into unweaponizable fuel for a research reactor, without giving up its inalienable right to enrich its own nuclear material.
Iran was let off the hook of the Friday Oct. 23 deadline for its reply, although the US, France, Russia approved the deal on time. Mottaki took up the slack to try and push the powers and ElBaradei a bit further into accepting the reduction of overseas shipments and licensing Iran to import some more, a suggestion not included in the Elbaradei plan because it would violate UN Security Council Resolutions. In this way, Tehran hoped to let go of only a (negotiable) part of its enriched uranium - and so invalidate President Barack Obama's plan to lose control of most of the enriched uranium it held in stock that could be used for making a nuclear device.This new Iranian proposal boils down to a deal to break that stock down into consignments of, say, 100-200 kgs, each to be posted overseas over a period of months or even years.This was confirmed by MP Boroujerd, the head of parliament's foreign policy commission, who said: Because the West has repeatedly violated agreements in the past, Iran should send its low enriched uranium abroad for further processing gradually and in several phases and necessary guarantees should be taken.

He said this to Iran's Arabic language al Alam television Monday.Since Iran is known to produce 3,175 kgs of enriched uranium a day at its overt plant in Natanz, it would need 77 days to produce the 200 kg taken out of stock for shipping to Russia and France. This is the quantity Tehran proposes to purchase to keep its stock level, refusing under any circumstances to be deprived of a sufficiency of material for producing a nuclear weapon.Tehran will accept the world powers-IAEA deal only if it can be finagled to meet this fundamental principle - a process Mottaki has kicked off.How far are the US, Russia and France coordinated on standing up to Tehran's dickering? Speaking after the Iranian foreign minister, a senior Russian official Sergei Ryabkov urged the exercise of patience with the Islamic Republic: We should not give the impression that everything has stayed as it was. On the contrary, we need to give the Iranians positive stimuli.debka

Jerusalem Bulldozes Five Illegal Arab Buildings
by Tzvi Ben Gedalyahu OCT 27,09

(IsraelNN.com) Jerusalem razed five more illegal Arab structures on Tuesday, continuing a policy that flies in the face of U.S. President Barack Obama’s demands that Israel keep its hands off the illegal construction while freezing building for Jews. The Netanyahu government has rejected the freeze in the capital.Tuesday’s demolitions were carried out without incident in Arab neighborhoods, including Jabal Mukhabar, home of several Arab terrorists who carried out attacks while bearing Israeli identity cards.Jerusalem mayor Nir Barkat approved the action with a court ruling against the illegal buildings, many of which are found throughout eastern Jerusalem and act as an obstacle to Jewish contiguity from Ramallah, to the north, and Maaleh Adumim to the east. A Jerusalem judge agreed with city officials that the homes were built without approval and on land that is zoned as a green area.

Nearly 70 homes have been demolished this year, but government officials previously have estimated that approximately 40,000 Arab homes in the capital have been built without permits. Then-Housing Minister Natan Sharansky asserted seven years ago that the homes are built for political reasons, in strategic areas of the city, along side roads and in areas where they can help split Jerusalem apart ... [and are] built by wealthy Arab contractors, paid for by Saudi Arabia.President Obama’s policy, following a long-standing State Department position, considers all of eastern Jerusalem, including the Western Wall area and the neighborhoods of Ramot, French Hill, among others, to be occupied territory.

American Jews X-ing Out J Street by Tzvi Ben Gedalyahu OCT 27,09

(IsraelNN.com) The self-proclaimed pro-Israel J Street lobby opened its nationwide conference this week, trying to survive a growing tide of American Jews who oppose its anti-Israeli government policies.Speaking at the opening of its three-day conference this week in Washington, the group's director, Jeremy Ben-Ami, declared that J Street is defining support for the creation of a Palestinian state as a core pro-Israel position.He claimed wide backing for its policies despite the boycott of the conference by Michael Oren, the Israel Ambassador to Washington. Also absent were dozens of Congress members, concerned with the organization’s pro-Arab position and its opposition to tougher sanctions in Iran, which is trying to develop nuclear power while threatening to annihilate the Jewish State.Ben-Ami brushed aside Oren’s boycott by simply declaring that the ambassador made a serious mistake because we do love Israel [and] we do support Israel.Among J Street’s partners are the Brit Tzedek v’Shalom (Alliance for Peace and Justice), a group which backs an end to Israel's occupation of land acquired during the 1967 war and an end to Palestinian terrorism. It campaigned three years ago with Americans for Peace Now to oppose the Palestinian Anti-Terrorism law.The lobby, largely funded by billionaire George Soros, has gone on the defensive for its views, with its branch on universities officially dropping the claim that it is pro-Israel.

Former Israel diplomat Lenny Ben-David, writing on his private blog last week, cited Ben-Ami’s having been a senior vice president for Fenton Communications, which signed a contract with a foundation in Qatar to lead an anti-Israeli campaign on American campuses.Did you sever your ties with Fenton when you began J Street? Ben-David asked.Do you retain any role or holdings in Fenton today? Did you play any role in introducing Fenton to the Qatari agents or play any role in facilitating the contract? Were you aware of the negotiations or the contract signed on March 12, 2009?

Ben-Ami has not responded.

Ben-David also challenged J Street’s claim that about five of its donors are Muslims and Arabs. He wrote,A partial listing quickly extracted from the U.S. Federal Election Commission shows more than 30 contributors, many with ties to Arab-American organizations.Previous reports have stated that Arabs and Muslims contribute approximately 10 percent of J Street’s $3 million annual budget.

Israel’s First Secure ER Protects Patients from Chemical Warfare
by Tzvi Ben Gedalyahu OCT 27,09

(IsraelNN.com) The Rambam Hospital in Haifa dedicated this week a new $14 million emergency facility that provides protection from missiles and chemical weapons that Israel believes may be in Hizbullah’s possession. The hospital was one of hundreds of civilian targets that came under fire by the terrorist organization in the Second Lebanon War in the summer of 2006.The new emergency room is the first stage of a plan that includes the establishment of a secure underground hospital for 1,730 patients, a children’s hospital and facilities for cancer care and for cardiac treatment, and a tower for clinical research.Government sources provided one quarter of the construction costs, and private donors and organizations provided the remainder.The new emergency room complex, when completed, will be more than three times larger than the previous facility, covering three-quarters of an acre with the ability to treat 60 patients simultaneously, according to Rambam Health Care Campus director Prof. Rafi Beyar.

DOCTOR DOCTORIAN FROM ANGEL OF GOD
then the angel said, Financial crisis will come to Asia. I will shake the world.

JAMES 5:1-3
1 Go to now, ye rich men, weep and howl for your miseries that shall come upon you.
2 Your riches are corrupted, and your garments are motheaten.
3 Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days.

REVELATION 18:10,17,19
10 Standing afar off for the fear of her torment, saying, Alas, alas that great city Babylon, that mighty city! for in one hour is thy judgment come.
17 For in one hour so great riches is come to nought. And every shipmaster, and all the company in ships, and sailors, and as many as trade by sea, stood afar off,
19 And they cast dust on their heads, and cried, weeping and wailing, saying, Alas, alas that great city, wherein were made rich all that had ships in the sea by reason of her costliness! for in one hour is she made desolate.

EZEKIEL 7:19
19 They shall cast their silver in the streets, and their gold shall be removed: their silver and their gold shall not be able to deliver them in the day of the wrath of the LORD: they shall not satisfy their souls, neither fill their bowels: because it is the stumblingblock of their iniquity.

REVELATION 13:16-18
16 And he(FALSE POPE) causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:(CHIP IMPLANT)
17 And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.
18 Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six.(6-6-6) A NUMBER SYSTEM

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HALF HOUR DOW RESULTS WED OCT 28,2009

09:30 AM -5.59
10:00 AM -17.16
10:30 AM -24.34
11:00 AM -47.23
11:30 AM -17.16
12:00 PM -30.25
12:30 PM -43.76
01:00 PM -51.54
01:30 PM -41.87
02:00 PM -59.70
02:30 PM -77.09
03:00 PM -80.74
03:30 PM -100.44
04:00 PM -119.48 9762.69

S&P 500 1042.63 -20.78

NASDAQ 2059.61 -56.48

GOLD 1,027.80 -7.60

OIL 77.26 -2.25

TSE 300 10,829.20 -224.34

CDNX 1263.41 -43.05

S&P/TSX/60 643.32 -12.62

MORNING,NEWS,STATS

YEAR TO DATE PERFORMANCE
Dow +12.60%
S&P +17.73%
Nasdaq +34.18%
TSX Advances 568,declines 978,unchanged 232,Volume 443,007,870.
TSX Venture Exchange Advances 366,Declines 550,Unchanged 340,Volume 203,290,817.

Dow -27 points at 4 minutes of trading today.
Dow -64 points at low today.
Dow +21 points at high today so far.
GOLD opens at $1,037.00.OIL opens at $8.85 today.

AFTERNOON,NEWS,STATS
Dow -64 points at low today so far.
Dow +21 points at high today so far.

INVENTORIES (WEDNESDAYS)
CRUDE OIL +800,000 Barrels
GASOLINE +1.6 MILLION Barrels
DISTILLATE INV -2.1 MILLION Barrels
REFINERY UTILIZATION +0.7% TO 81.8%

DAY TODAY PERFORMANCE - 12:30PM STATS
NYSE Advances 771,declines 2,892,unchanged 66,New Highs 46,New Lows 37.
Volume 3,155,202,073.
NASDAQ Advances 646,declines 1,924,unchanged 98,New highs 14,New Lows 29.
Volume 1,152,605,480.
TSX Advances 307,declines 1,084,unchanged 191,Volume 259,133,474.
TSX Venture Exchange Advances 203,Declines 526,Unchanged 288,Volume 118,384,606.

WRAPUP,NEWS,STATS
Dow -123 points at low today.
Dow +21 points at high today.
Dow -1.21% today Volume 257,300,359.
Nasdaq -2.67% today Volume 2,629,027,657.
S&P 500 -1.95% today Volume N/A

GETTING TOUGH ON TO BIG TO FAIL
http://www.cnbc.com/id/15840232?video=1310167999&play=1
T-NOTE AUCTION RESULTS
http://www.cnbc.com/id/15840232?video=1310159636&play=1
US HEADING FOR NEW FINANCIAL CRISIS
http://www.cnbc.com/id/15840232?video=1310074472&play=1
IS VOLITILITY BACK
http://www.cnbc.com/id/15840232?video=1310056330&play=1

Op-Ed Contributor We Can Do It By BAN KI-MOON
Published: October 25, 2009

Every day, the critical December summit in Copenhagen grows closer. All agree that climate change is an existential threat to humankind. Yet agreement on what to do still eludes us. How can this be? The issues are complex, affecting everything from national economies to individual lifestyles. They involve political trade-offs and commitments of resources no leader can undertake lightly. We could see all that at recent climate negotiations in Bangkok. Where we needed progress, we saw gridlock.

Yet the elements of a deal are on the table. All we require to put them in place is political will. We need to step back from narrow national interest and engage in frank and constructive discussion in a spirit of global common cause. In this, we can be optimistic. Meeting in London earlier this week, British Prime Minister Gordon Brown told the leaders of 17 major economies (responsible for some 80 percent of global greenhouse gas emissions) that success in Copenhagen is within reach—if they themselves engage, and especially if they themselves go to Copenhagen to push an agenda for change.U.S. leadership is crucial. That is why I am encouraged by the spirit of compromise shown in the bipartisan initiative announced last week by John Kerry and Lindsey Graham. Here was a pair of U.S. senators — one Republican, the other Democratic — coming together to bridge their parties’ differences to address climate change in a spirit of genuine give-and-take. We cannot afford another period where the United States stands on the sidelines. An engaged United States can lead the world to seal a deal to combat climate change in Copenhagen. An indecisive or insufficiently engaged United States will cause unnecessary — and ultimately unaffordable — delay in concrete strategies and policies to beat this looming challenge.Leaders across the globe are increasingly showing the engagement and leadership we need. Last month, President Barack Obama joined more than 100 others at a climate change summit at U.N. headquarters in New York — sending a clear message of solidarity and commitment. So did the leaders of China, Japan and South Korea, all of whom pledged to promote the development of clean energy technologies and ensure that Copenhagen is a success.

Japan’s prime minister promised a 25 percent cut in greenhouse gas emissions from 1990 levels by 2020, laying down a marker for other industrialized nations. The European Union, too, has pledged to make a 30 percent reduction as part of a global agreement. Norway has announced its readiness for a 40 percent cut in emissions. Brazil has unveiled plans to substantially cut emissions from deforestation. India and China are implanting programs to curb emissions as well.

Looking forward to Copenhagen, I have four benchmarks for success:Every country must do its utmost to reduce emissions from all major sources, including from deforestation and emissions from shipping and aviation. Developed countries must strengthen their mid-term mitigation targets, which are currently nowhere close to the cuts that the Intergovernmental Panel on Climate Change says are needed. Developing countries must slow the rise in their emissions and accelerate green growth as part of their strategies to reduce poverty. A successful deal must strengthen the world’s ability to cope with an already changing climate. In particular, it must provide comprehensive support to those who bear the heaviest climate impacts. Support for adaptation is not only an ethical imperative; it is a smart investment in a more stable, secure world. A deal needs to be backed by money and the means to deliver it. Developing countries need funding and technology so they can move more quickly toward green growth. The solutions we discuss cannot be realized without substantial additional financing, including through carbon markets and private investment. A deal must include an equitable global governance structure. All countries must have a voice in how resources are deployed and managed. That is how trust will be built.Can we seal a comprehensive, equitable and ambitious deal in Copenhagen that will reduce greenhouse gas emissions and limit global temperature rise to a scientifically safe level? Can we catalyze clean energy growth? Can we help to protect the most vulnerable nations from the effects of climate change? Can we expect the United States to play a leading role? The best answer to all these questions was given last week by Senators Kerry and Graham: Yes, we can.Ban Ki-moon is secretary general of the United Nations.

Ethics talk on human rights and globalization
Oct. 27, 2009 WMU NEWS

KALAMAZOO--Human rights and the rise of globalization will intersect during a talk on Tuesday, Nov. 3, at Western Michigan University as part of the Center for the Study for Ethics in Society's fall lecture series.Dr. Carol C. Gould, professor of political science and director of the Center for Global Ethics and Politics at the Ralph Bunche Institute, The City University of New York, will speak at 7:30 p.m. in Room 2028 of Brown Hall. Her presentation, titled Diversity, Democracy and Dialogue in a Human Rights Framework, is free and open to the public.In her lecture, Gould will focus on the growing awareness of the power and scope of globalization in its various dimensions as well as the growing importance of institutions of global governance. The development of a global, public sphere of discourse and deliberation have raised hopes that disparate groups can provide input into the decisions and policies of global governance. Gould will look at the possibilities, but says transnational deliberation must be framed by human rights agreements to protect the interests of all. In addition to her duties as a center director and professor of political science, Gould also is a professor of philosophy at Hunter College and the Graduate Center of The City University of New York. She is editor of the Journal of Social Philosophy and executive director of the Society for Philosophy and Public Affairs.Gould also is the author of Marx's Social Ontology,Rethinking Democracy and Globalizing Democracy and Human Rights,which won the David Easton Award from the Foundations of Political Theory Section of the American Political Science Association. She has also edited seven books and has published numerous articles in social and political philosophy, philosophy of law, feminist theory and applied ethics.

The challenges of global governance-IMF isn't the right body to become regulator Alia McMullen, Financial Post Tuesday, October 13, 2009

Charles Crowell/Bloomberg News Kenneth Rogoff speaks at a news conference at the Annual Meeting of the Board of Governors of the IMF and World Bank in Dubai.
National governments need to make way for international authorities to play a greater role in governance, particularly when it comes to finance and trade, says Kenneth Rogoff, a Harvard University professor and former chief economist at the International Monetary Fund.We probably need to strike a different balance between roles for national authorities, with international authorities taking more of a role,Prof. Rogoff said in an interview with the Financial Post at a recent governance conference held at the Centre for International Governance Innovation in Kitchener-Waterloo, Ont.He said the financial sector was a prime example where global governance was needed, with the inadequacies of the present system highlighted by the financial crisis.I agree that we should have a global financial regulator,he said.My main reason is that I think a financial regulator needs to be insulated from political pressures and it is very hard to do that with a domestic financial regulator.

He said the financial crisis was a watershed for the Groups of 20 nations, with developed countries recognizing the need for developing and emerging-market economies to have a seat at the table in international talks. At the same time, he said he was concerned that the multitude of interests in the G20 would result in more talk than action.The IMF, a global financial authority, has also increased in importance as a result of the crisis, with a number of countries approaching the body for financial aid. But Prof. Rogoff said the IMF was not the right institution to become a global financial regulator.I think it's great that it's been given much more of a role in supervision and regulation and it's really had a rebirth from the crisis, but at the same time, I'm against having a super-sized IMF,he said.He said a larger IMF would raise huge questions of moral hazard -- that is, creating a governance system where the players in it did not fear failure and took imprudent risks.People think the IMF is tough. The truth is it finds it almost impossible to say no,he said.The IMF is lending in places like the Ukraine and Eastern Europe and over time it's just going to let them dig a deeper hole before they have their financial crisis.Other institutions, such as the World Trade Organization, have also been faced with challenges as globalization brings countries closer together. Prof. Rogoff said the WTO had run into a brick wall regarding such countries as China, India and Brazil.For all their complaining about the WTO, they are the world's biggest beneficiaries of it,he said of the three countries.They're allowed to export goods with virtually no restrictions and they are still allowed to place heavy import quotas.He said import barriers in China were extremely unfair and the WTO needed to provide more leadership to encourage developing and emerging-market countries such as China to open their markets because of their growing role in world trade.The big problem with the WTO is that the fast-growing countries that are taking over an ever-larger share of world trade are operating as if they're small African countries,Prof. Rogoff said.He said the WTO was one of many international organizations in a transition of rebalancing power.amcmullen@nationalpost.com

Loonie intervention not to be taken lightly Paul Vieira, Financial Post
Published: Tuesday, October 27, 2009

Reuters Bank of Canada governor Mark Carney.
OTTAWA -- Mark Carney, the Bank of Canada governor, told federal MPs on Tuesday that central bank intervention in currency markets -- on its own -- seldom works unless backed by other appropriate policy measures.Further, he added, the decision to intervene is not to be taken lightly,and should be executed only if the dollar's movements would have serious consequences on the economic outlook.In testimony before the House of Commons finance committee, he said at this stage,the measures the central bank has put forward, such as the pledge to keep its key policy rate at a historic low until June 2010, are consistent with its objective to get inflation to the 2% level.The stronger loonie, up as much as 25% this year, has subdued inflationary pressures, Mr. Carney said. The bank sets its policy rate with the aim of reaching 2% inflation.On Tuesday, the Canadian dollar was trading up slightly at 93.87 U.S. cents.If needed, Mr. Carney reiterated that Bank of Canada has the option of flooding the financial markets with additional cash -- through so-called credit and quantitative easing -- in an effort to keep a lid on rates with the intent of lessening the loonie's appeal to foreign investors.The tank is full,Mr. Carney said, in reference to the unconventional policy tools he has available should they be required.

MPs on the committee applauded the Bank of Canada's efforts to talk down the dollar, which it has tried to do through speeches by members of the governing council and stronger language in policy statements.Mr. Carney said there are only two occasions in which the central bank would consider intervention: when there is a breakdown in foreign-exchange markets; and if the persistent move in the currency, in either direction, would result in serious implications for the economy.The last time the central bank intervened, on its own, to alter the course of the Canadian dollar was in 1998.Just hours before Mr. Carney's testimony before MPs, the chief economist at CIBC World Markets said the Bank of Canada could effectively intervene in currency markets to dampen the Canadian dollar should its strength threaten to sacrifice the country's industrial heartland.In an article, Avery Shenfeld said it may be time for the central bank to revisit its view on currency intervention, which it hasn't done on its own in nearly 11 years. Anyone who has watched the Canadian dollar's performance in the last 15 years would have a tough time arguing that foreign exchange markets are the perfectly rational, calculating machines that the textbooks suggest,he said.He cited precedence in Switzerland, where that central bank moved this year to stop the Swiss franc's appreciation against the euro.Intervention is a powerful tool for those who opt to use it.

Financials lead TSX decline Financial Post
Published: Tuesday, October 27, 2009

Reuters In Toronto, the S&P/TSX composite index was on pace for a third straight day of losses.North American stock markets were mixed at midday on Tuesday, with the benchmark Canadian index losing points on falling gold prices and the Dow Jones in New York gaining on positive housing and retail numbers.In Toronto, the S&P/TSX composite index was on pace for a third straight day of losses, down about 75 points, or 0.7%, to 11,1604, led by the financials and materials sectors.Oil at noon was selling for US $79.41 a barrel, up 73 cents, while gold was down $4.00 to US$1,038.80 an ounce.At noon the Canadian dollar was up 19 basis points from Monday's close, trading at 93.91 cents US.In the U.S., the Dow Jones industrial average was up about 64 points, or 0.6%, to around 9,929 at midday, buoyed by the third monthly increase in the Case/Shiller home price index and a 1.8% rise in retail sales, according to the Johnson Redbook retail sales index.The U.S. Conference Board's gauge of consumer confidence's unexpected decrease in October of 5.7 points briefly erased early gains.The Nasdaq composite index defied the U.S. trend, losing about nine points, or 0.4%, at midday, to 2,133, as Apple and Amazon.com lost ground.
Overseas markets were similarly uneven, with European markets trading mostly on the plus side, while Asian markets posted losses.

Sarkozy under fire for indecent spending during EU presidency
VALENTINA POP Today OCT 28,09 @ 17:13 CET

French President Nicolas Sarkozy has come under fire for what his critics call indecent spending of an average €1 million a day during the six months he chaired the EU presidency.A report on the accounts of the French EU presidency published by the Court of Auditors put the cat among the pigeons in the political establishment on Wednesday (28 October), with opposition figures bashing the indecent spending of €171 million over six months, meaning an average of €1 million a day.Among the extravagances was the EU-Mediterranean summit organised on 13 and 14 July 2008, which cost around €17 million and where leaders dined for €5,050 per person. A shower for €276,000 was also installed temporarily in the Grand Palace in Paris, but the president never used it. It had massage and surround sound radio functions and was custom built for the 1.6 metre tall president, the UK's Daily Telegraph reported.
French socialist lawmaker Rene Dosiere, specialised in public expenditures, said the the decadent dinner cost more than five times a normal meal at a time when French have to tighten their belt.

The President has lost touch with reality,Mr Dosiere argued.For his part, Frederic Lefebvre, a spokesman for the centre-right UMP party of Mr Sarkozy said the accusations were dishonest and simple lies.No meal cost more than €5,000 per person. And that includes the costs of refurbishing the place where the summit took place, he insisted.As for the shower, Mr Lefebvre said in reality the cost was for the refurbishing of eight rooms with toilets for the heads of state.A spokesperson for the French government also stressed that the president never showers in the Grand Palais. He takes his shower at the Elysee [palace] or at home.

Commission unveils van CO2 emissions standards proposal
LEIGH PHILLIPS Today OCT 28,09 @ 17:33 CET

EUOBSERVER / BRUSSELS - The European Commission has proposed a significantly watered-down bill that aims to reduce CO2 emissions from vans.The new legislation, approved at the last meeting of the college of commissioners in its the current term before it transforms into a caretaker executive, requires that emissions for each new model of van from a manufacturer cough out no more than 175 grammes of carbon dioxide per kilometre.The limit will be phased in slowly, with three quarters of vans required to meet the target by 2014, four fifths by 2015 and all vans by 2016.A tighter target of 135g/km would be scheduled for 2020.However, earlier texts had suggested the 175g/km target be met by 2012, with a second target of 160g/km to be met by 2015.

In a further weakening, minibuses are to be exempted from the law.

Meanwhile, van-makers who exceed the limit will be fined five euros per gramme per kilometre if they miss the threshold by one gramme, a fine that climbs to €125 per gramme per kilometre if they exceed the carbon ceiling by four grammes.Admitting that the bill was not first rate, environment commissioner Stavros Dimas bluntly told reporters as he announced the proposal: The level of ambition is not as high as it was initially, but it's still a very important decision.He felt that it was now or never for the legislation, meant to complement similar laws covering emissions from cars passed at the end of 2008. If we didn't have a proposal today, whether we would have had one in the near future is uncertain,he said.Green transport campaigners were displeased by the proposal.Kerstin Meyer of Transport & Environment said: We need to start cutting carbon now, not in 2016. The EU is once again weakening vehicle fuel efficiency standards, one of the most important tools for tackling carbon emissions and oil use.The campaign group noted that the schedule represents a 14 percent reduction over nine years on the 2007 level of 203 g/km. Meanwhile, the best diesel cars have already improved by up to 27 percent over just the last two years. T&E argues that it is possible for the technology developed for cars to be used for vans.EU governments have spent billions in recent months on subsidies for new vehicles, bailouts for automotive companies, and taxpayer-backed loans for the development of low carbon vehicle technology,added Ms Meyer.By lobbying against fuel efficiency standards, the automotive industry is showing that it is more than happy to take taxpayers' money and run.

Bungled commission message lets Spanish firms off hook
ANDREW WILLIS Today OCT 28,09 @ 17:31 CET

EUOBSERVER / BRUSSELS – The European Commission told Spain to abolish a corporate tax scheme on Wednesday (28 October), on the basis that it gives Spanish firms an unfair advantage in European takeover deals. But many firms appear to have escaped scot-free, as the obligation to pay back the illegal tax relief to the Spanish government will only apply to takeovers carried out after December 2007, the date when the commission announced its investigation. As a result, no money will be paid back on the vast majority of lucrative deals netted by a number of Spanish firms since the government tax scheme came into place in 2002.Compounding the issue, the lucky let-off for the firms was caused by unclear statements made by one commissioner in particular to the European parliament, leading lawyers to advise against demands for pre-December 2007 paybacks. Under the Spanish tax scheme, national firms taking over non-Spanish European firms were allowed to write off, over a period of 20 years, the excess price paid for the acquisition of a business over the market value of the assets composing it.When looking to takeover competing firms, company boards will typically make an offer exceeding the market value of the target firm.This tax provision gives a discriminatory advantage to Spanish companies when acquiring shares in other European companies, said the EU's competition watchdog, Neelie Kroes, in a statement.

Legal basis undermined

But despite the commission decision, Spanish firms who concluded deals before December 2007 will not have to pay back the funds and can even continue to write off the excess value paid for a takeover. Privately commission officials admit that their legal argument to take a stronger line was severely weakened by mixed messages coming out of the executive itself during the period in question. One exasperated official specifically pointed to comments made by the EU's internal market commissioner to the European Parliament, indicating Spanish firms could argue they were ambiguous regarding the legality of the Spanish scheme. As a result, major takeover deals such as O2's acquisition by Telefonica or Scottish Power's aquisition by Iberdrola will be unaffected by the commission's announcement.Despite the apparent let-off, doubts existed as to whether the Spanish administration would force companies who made deals after December 2007 to pay back illegal tax relief.

After an unannounced meeting with Ms Kroes in Brussels a few weeks ago, Spanish finance minister Elena Salgado declared no firms would have to pay back the money.
But Spanish diplomats in Brussels on Wednesday signaled that Spain would comply with the new decision.

What recovery? Americans still gloomy on economy By ASHLEY M. HEHER, AP Retail Writer – Tue Oct 27, 4:36 pm ET

CHICAGO – The housing market and stocks may be looking up, but Americans just can't shake their job worries.In a sign that talk of an economic recovery has yet to soothe a recession-battered nation, consumer confidence fell in October and came in well below what analysts were expecting.For stores, the reading is reason to worry that holiday sales might be even worse than they feared.In a separate reading, the Conference Board reported shoppers' sentiments about the state of the economy are the gloomiest in nearly three decades. Americans reported they plan to cut back on spending, in large part because they don't trust the job market.The unemployment rate is just under 10 percent, and economists say it could hit 10.5 percent next year.It's hard to get a job, and the ones that are out there don't pay enough, said Mitch Hicks, a 33-year-old from Hillsboro, Ore., who lost his job at a cabinet company a year ago and is still struggling to find work.The board's index of consumer confidence fell to 47.7 in October from 53.4 in September. Economists were expecting only a small decline, to 53.1. It takes a reading of 90 to indicate an economy on solid footing, 100 or more to indicate growth.Nearly half the 5,000 households surveyed by the board said jobs were hard to come by, and about one in four said they expected fewer available jobs in the coming months.We've gone down so far that it's kind of like when you fall into a deep hole and you're down 20 feet and you climb up by three feet,said Brian Bethune, an economist at IHS Global Insight.You're better off than you were before, but you've still got a long way to go to get out.There have been signs of recovery elsewhere: Corporate earnings are getting stronger, the stock market has regained much of its lost ground and figures due out Thursday are expected to show the recession officially ended in June or July.

And there was another indication Tuesday that the housing market is stabilizing. The Standard & Poor's/Case-Shiller price index showed home prices in August climbed for the third consecutive month, helped by a popular tax credit for first-time homebuyers.

But all the improvements haven't translated to economic security.Sharon Jerndt, 47, is trimming her holiday gift list because she's scared of racking up credit card debt. She's also eating at home and skipping other indulgences.I'm trying to only pay with cash,said Jerndt, who works as a court reporter in Chicago.Economists pay close attention to consumer confidence because it's a good barometer of the attitude of shoppers, whose spending on goods and services ultimately fuels 70 percent of the U.S. economy.At best, economists expect holiday sales to be flat from a year ago, when businesses recorded their biggest declines in at least four decades.Americans are quite pessimistic about their future earnings, a sentiment that will likely constrain spending during the holidays,said Lynn Franco, director of The Conference Board's Consumer Research Center.The confidence index sank to a historic low of 25.3 in February. It's still well below the reading of 61.4 last fall just before Lehman Brothers collapsed, the beginning of the financial crisis.AP Retail Writers Sarah Skidmore in Portland, Ore., and Betsy Vereckey in Chicago contributed to this report.

Stocks mostly fall on mixed data; IBM lifts Dow By TIM PARADIS, AP Business Writer – Tue Oct 27, 5:49 pm ET

NEW YORK – Stocks mostly fell Tuesday as mixed reports on home prices and consumer confidence gave investors little incentive to step into the market.Rising energy stocks and a decision by IBM Corp. to double its stock-repurchase plan propped up the Dow Jones industrials but the Nasdaq composite index slid after Chinese Internet search company Baidu Inc. warned its revenue could take a hit as it switches its advertising system.Two stocks fell for every one that rose on the New York Stock Exchange.Bond prices rose after strong demand at a government debt auction, signaling that investors are still seeking safety.Stocks rose at the start of trading following a report that home prices in 20 major metropolitan markets increased for the third straight month in August. The Standard & Poor's/Case-Shiller home price index gained 1 percent in August from July.However, the gains in home prices couldn't offset worries that consumers might not be in a mood to spend this holiday season. The Conference Board said its Consumer Confidence Index fell unexpectedly to 47.7 in October, its second-lowest reading since May. Analysts predicted a figure of 53.1.While data on consumer confidence can be volatile, the drop-off still took some of the sheen off corporate profit reports for the July-September quarter, which have been coming in ahead of expectations.When I look at the consumer, I think that is the next big test,said Dave Hinnenkamp, chief executive KDV Wealth Management in Minneapolis.We've passed a big test on the earnings front.

The Dow rose 14.21, or 0.1 percent, to 9,882.17. The broader Standard & Poor's 500 index fell 3.54, or 0.3 percent, to 1,063.41, while Nasdaq fell 25.76, or 1.2 percent, to 2,116.09.Bond prices rose after a Treasury Department auction of $44 billion in two-year notes drew robust demand. That pushed yields lower. The yield on the two-year note rose fell to 0.94 percent from 1.04 percent late Monday. The yield on the benchmark 10-year Treasury note fell to 3.45 percent from 3.56 percent.Stocks have fallen for most of the past week on worries about the economy. The Dow dropped 104 points Monday after a similar slide Friday. It was the first consecutive triple-digit loss for the Dow since mid-June.The drops have come as a strengthening dollar pushed the prices of commodities lower. The dollar mostly rose again Tuesday but didn't dominate trading.Analysts say the coming days could be choppy as traders look for fuel to extend the market's climb. The down days are welcome by those who say the advance has been too quick. The S&P 500 index is up 57.2 percent since March but down 3.1 percent from the start of last week when it closed at its highest level in more than a year.The end of the month could also present hurdles. For many mutual funds, the last trading day of their fiscal year is Friday. Fund managers looking to minimize taxes for shareholders could sell some of their investments.Investors are also looking to the government's first reading on economic output for the third quarter. The report on gross domestic product is due Thursday and could signal an end to the recession that many analysts have said is over, at least officially.

Joe Battipaglia, market strategist for the private client group at Stifel Nicolaus & Co. in Yardley, Pa., said recent economic data don't support arguments for a fast recovery in the economy, nor do they suggest a rebound would be weak enough to push stocks back down to the levels of eight months ago.We are in what I would call purgatory right now where the U.S. economy is rather limp,he said.Crude oil rose 87 cents to settle at $79.55 per barrel on the New York Mercantile Exchange. Gold fell.

IBM, one of the 30 companies that make up the Dow, rose after it added $5 billion to its stock repurchase fund. The total now stands at $9.2 billion. The stock advanced 54 cents, or 0.5 percent, to $120.65. The rise in oil after a three-day slide helped lift energy stocks and the Dow. Exxon Mobil Corp., which is slated to report earnings Thursday, rose $1.68, or 2.3 percent, to $74.91.Baidu's American Depositary shares slid $49.31, or 11.4 percent, to $383.66 after it its warning about revenue.
Consolidated volume at the NYSE fell to 5.4 billion shares from 5.7 billion Monday.
The Russell 2000 index of smaller companies slid 6.69, or 1.1 percent, to 586.99.
Britain's FTSE 100 rose 0.2 percent, Germany's DAX index fell 0.1 percent, and France's CAC-40 slipped less than 0.1 percent. Japan's Nikkei stock average fell 1.5 percent.

Brown urges EU to create 10 million jobs by 2014 Tue Oct 27, 1:53 pm ET

LONDON (AFP) – The European Union should aim to create 10 million new jobs by 2014, Prime Minister Gordon Brown said Tuesday, as it seeks to restore growth following the global economic downturn.In a letter to his Swedish counterpart Fredrik Reinfeldt, Brown said the target should be part of a new, explicit and urgent economic mission for the bloc which also includes maintaining stimulus measures and supporting business.We need to set an ambitious, yet realistic, target to create 10 million new jobs by 2014, ensuring that two million of these jobs are in low-carbon industries,Brown wrote to Reinfeldt, whose country currently holds the EU presidency.
European Union leaders are meeting in Brussels on Thursday for a two-day summit, while finance ministers from the G20 will also gather in Scotland on November 6-7 to discuss banking regulation in the aftermath of the crisis.

Valero margins squeezed by rising crude prices By Chris Kahn, Ap Energy Writer – OCT 27,09

NEW YORK – The largest independent petroleum refiner in the U.S. said Tuesday it lost nearly $500 million in the third quarter as it was caught between a rise in oil prices and a slump in American travel.It was the second quarterly loss in a row for Valero. The company, which is based in San Antonio, Texas, lost $254 million between April and June.The recession has forced companies to slash travel budgets and so many workers have lost jobs that demand for the gasoline and jet fuel made by refiners has fallen sharply. But Valero's problems also show how the weak U.S. currency has hurt companies that typically see only a modest shift in results related to exchange rates.Crude contracts, which are priced in dollars, get more expensive as U.S. currency falls and investors holding euros and other strong foreign money can buy more.So the cost of Valero's main ingredient, oil, is rising but the fuel that it sells has not kept pace.Refiners historically have been able to pass along higher costs by charging more for gasoline and other refined products. They've had a tougher time doing that this year with the nation's appetite for energy shrinking, said Ann Kohler, an analyst with Caris and Company.Valero Energy Corp. reported a loss of $489 million, or 87 cents per share for the three months that ended in September. That compares with a profit of $1.2 billion, or $2.18 per share, in the third quarter of last year.Chief Financial Officer Mike Ciskowski told investors in a conference call that Valero expects to report a similar loss in the final three months of the year, excluding special items. The company may cut its shareholder dividend in the fourth quarter if industry conditions don't improve measurably,Ciskowski said.

Valero has tried to cut costs by costs by producing less. In September, the company shuttered its coker and gasifier complex at its Delaware City refinery. The company also shut down its coker and fluid catalytic cracking unit at its Corpus Christi refinery and kept its Valero Aruba refinery closed for an extended period.The company said in September that at least 150 employees and 100 contract workers would be let go in Delaware City, Del., and 700 more would lose their jobs at the Aruba refinery. This month, Valero announced it would slash 100 jobs from its Paulsboro plant in New Jersey by year's end.Other refineries have cut back as well, and U.S. gasoline supplies have dropped in the first three weeks of October. As a result, pump prices are headed higher this fall. The national average price for a gallon of gasoline on Tuesday, for the first time this year, costs more than it did 12 months ago.At this time last year as the financial crisis spread, the price of gasoline plummeted.Valero shares lost 88 cents, or 4.3 percent, to close at $19.39 Tuesday.

Obama team: US needs bill to lead in clean energy By H. JOSEF HEBERT and DINA CAPPIELLO, Associated Press Writers – OCT 27,09

WASHINGTON – The Obama administration warned on Tuesday that the U.S. could slip further behind China and other countries in clean energy development if Congress fails to pass climate legislation, as early signs of a rift emerged among Democrats over the bill's costs.Energy Secretary Steven Chu told a Senate panel that the U.S. has stumbled in the clean energy race and to catch up Congress must enact comprehensive energy legislation that puts the first-ever limits on the gases blamed for global warming.The United States ... has fallen behind,said Chu.But I remain confident that we can make up the ground.While the legislation is likely to clear the environment panel, more than a dozen Democrats have voice serious concerns about the potential economic fallout from shifting away from fossil fuels to reduce carbon dioxide and other greenhouse gas emissions.On Tuesday, Sen. Max Baucus, D-Mont., chairman of the Finance Committee, told the hearing Tuesday that he had serious reservations with the aggressive effort to cut emissions over the next decade. The bill calls for greenhouse gases to be cut by 20 percent by 2020, a target that was scaled back to 17 percent in the House after opposition from coal-state Democrats.We cannot afford a first step that takes us further away from an achievable consensus on commonsense climate change legislation,Baucus said.Montana can't afford the unmitigated impacts of climate change, but we also cannot afford the unmitigated effects of climate change legislation,he said.The chief author of the Senate bill, Sen. John Kerry, D-Mass., acknowledged that the bill would raise energy prices, but said the savings from reducing energy and the money to be made in new technologies were far greater.

Are there some costs? Yes, sir, there are some costs,Kerry said. He added that while an array of studies show restricting greenhouse gases will lead to higher energy prices, none of them factor in the cost of doing nothing.Kerry got some much-needed backup from President Barack Obama, who made a stop at a solar energy site in Florida Tuesday.The president warned that opponents, whom he did not identify, would work against the climate bill.They're going to argue that we should do nothing, stand pat, do less or delay action yet again,said Obama.It's a debate between looking backward and looking forward, between those who are ready to seize the future and those who are afraid of the future.An Environmental Protection Agency analysis released late Friday said the average household would pay an additional $80 to $111 a year to power their homes and fuel their cars if the bill becomes law and businesses pass on the cost of reducing pollution to consumers.Republicans questioned the validity of the EPA study Tuesday. And Sen. James Inhofe of Oklahoma, the panel's top Republican, and a skeptic of the science behind global warming, said Americans would not stomach the expense.This is something the American people can't tolerate and I don't think they will,Inhofe said.With weeks remaining before 192 nations gather in Copenhagen, Denmark to negotiate a new global treaty to slow climate change, time is running out for the Senate to bridge the differences and pass a climate bill this year.Republicans complained that chairman Sen. Barbara Boxer, D-Calif., who hopes to have the bill out of the environment committee in early November, was trying to rush the bill through without adequate study into its cost.Why are we trying to jam down this legislation now? asked Sen. George Voinovich, R-Ohio. Wouldn't it be smarter to take our time and do it right?
The bill is S. 1733.On the Net:Senate Environmental and Public Works Committee: http://www.epw.senate.gov

Senegal: IMF official given cash farewell gift By SADIBOU MARONE, Associated Press Writer – Tue Oct 27, 1:52 pm ET

DAKAR, Senegal – Senegal's president said Tuesday that he hosted a special dinner at his palace for a departing International Monetary Fund representative — only to have a top aide erroneously send him off with nearly $200,000 in cash as a goodbye gift.

President Abdoulaye Wade's admission has prompted the opposition in the West African nation to call for an investigation.Wade said his top aide gave the cash to IMF country director Alex Segura after a Sept. 25 dinner at the presidential palace marking the end of Segura's three-year term. Wade issued a statement Tuesday in which he said the gift was not a bribe.A top aide to the president asked if he should give something to Segura as is custom, the statement said.The president said yes without specifying the sum, as there was a common practice,the statement said. The top aide was mistaken about the amount and realized his error later.Wade did not specify what the proper amount was supposed to be. Nor did Wade say if the Senegalese government had followed a similar practice with other diplomats or foreign officials.An IMF statement said Segura left the president's house immediately for the airport and only later discovered that the gift was a large sum of U.S. dollars and euros. The IMF said they have returned the money to the Senegalese government.

Wade said he was not attempting to bribe Segura.It doesn't make sense to talk about corruption of someone who is leaving permanently without the slightest chance of meeting each other again one day,Wade said.Wade, the 83-year-old leader of Senegal, has come under increasing criticism for corruption allegations. He recently changed the constitution to alter the length of the presidential term from five to seven years. Last month, he announced that he planned to run for a third term — meaning that he could be in office well into his 90s.He has dismayed former supporters through ostentatious displays of wealth, including renting numerous suites in a luxury hotel in Switzerland this summer for his annual summer vacation. His Swiss holiday, which one newspaper claimed had cost the government at least $1.6 million, came at the same time that Senegal suffered devastating rains that flooded entire neighborhoods, causing some 264,000 people to lose their homes.He also has raised eyebrows by giving important portfolios to his son, Karim Wade, who was raised abroad and is not fluent in Wolof, the predominant local language. The elder Wade has repeatedly denied any wrongdoing by his son.Opposition legislator Imam Mbaye Niang said he will ask parliament to investigate the recent gift.Wade has to be taken to court for spending national money illegally,he said.Unfortunately I am sure that we will not succeed because the opposition is the minority in parliament.An IMF statement issued late Monday said the Washington-based organization would launch an independent investigation into the matter.The president explained that the money was intended as a traditional farewell gift to Mr. Segura in recognition of his contribution to Senegal, and was not in any way intended to influence either Mr. Segura, who was leaving the country permanently, or the IMF,the statement said.

The IMF said that Wade had acknowledged the amount that was provided was a mistake. The bank said Segura informed his successor on the night of his departure and they agreed that Segura would transport the money to his destination, Barcelona.With Mr. Segura worried about missing his flight and, concerned that there was no place to leave the money safely in Senegal, he decided to take the money aboard the plane, the statement said.The IMF said they returned the money to Senegal's ambassador to Spain in early October. Segura has since returned to Washington, the statement said.

Obama embraces House financial overhaul bill By ANNE FLAHERTY, Associated Press Writer - OCT 27,09

WASHINGTON – President Barack Obama on Tuesday embraced a House bill that would give the government unprecedented power to seize bank holding companies and other large financial firms teetering on the brink of collapse and stick their competitors with the cost.In a letter to House Financial Services Committee Chairman Barney Frank, Obama said the belief among financial executives that the government would ultimately protect them creates a perverse incentive for large firms to take reckless risks.Taxpayers simply must not be put in the position of paying for losses incurred by private institutions,Obama wrote in the letter, obtained by The Associated Press.Under Frank's proposal, a council of regulators would be established to monitor financial firms regarded as so big and influential that their collapse could bring down the entire economy.If the council determines that a firm has grown too big and dangerous, the Federal Reserve could step in to dismantle it. Firms with more than $10 billion of assets would be responsible for covering any outstanding costs of that action.The agreement paves the way for the bill's swift approval. Frank's committee was expected to consider it next week with a floor vote anticipated as early as November.The proposal is the latest step by Obama and congressional Democrats to overhaul the regulatory framework governing financial institutions and clamp down on the kind of risky market bets that contributed to last year's market crisis.On Tuesday, Frank's committee voted 67-1 on legislation that would force hedge funds and other large privately managed pools of capital to register with the Securities and Exchange Commission and undergo periodic examinations.

Frank's latest proposal to give the government the power to dismantle large, influential non-bank firms is not expected to generate the same kind of consensus. Republicans are likely to oppose the measure because they say it will create the expectation that some companies will be bailed out by the government because of their designation as being critical to the health of the economy.Democrats counter that the bill will prevent future bailouts because it will enable regulators to dismantle these firms.The companies also would be required to hold more money in reserve and would have a tougher time borrowing against their assets, making it less likely they would fail.Obama credited Frank for acting quickly and in the face of substantial opposition.Federal regulators already can dismantle banks. But the government was powerless last year at the height of the financial crisis when large bank holding companies and other non-bank institutions, such as insurance giant American International Group, started failing.Who should pay to dismantle these firms had been considered among the toughest questions that Congress had to answer after last year's near-collapse of several firms that prompted hefty government bailouts.Lawmakers know that voters are still angry from the bailouts and don't want to see taxpayer money on the line. At the same time, businesses say it is unfair to force them to invest their capital in advance to pay for the mistakes of others.
Another major issue for lawmakers was how much power to give the Federal Reserve. Many lawmakers blame the Fed for the current financial crisis and said it should not be trusted to monitor the largest financial institutions for their risk to the economy.Whereas Obama's proposal would have put the Federal Reserve in charge of monitoring these large financial institutions, Frank's plan gives more power to a council of regulators. The council would monitor the firms and set policy, while the Fed would be in charge of enforcement.On Wednesday, the House Financial Services Committee was expected to approve legislation that would give the Securities and Exchange Commission more money and power to police the stock market and set new rules for credit rating agencies.Associated Press writer Jim Kuhnhenn contributed to this report.

An American decline would undermine global security By Steve Yetiv – Tue Oct 27, 5:00 am ET

Norfolk, Va. – The great recession, mounting debt, military burdens, overconsumption. From New York to Beijing to Paris, there is talk, sometimes jubilant in tone, that the United States is on the decline. Some have even said that it's about time.The truth is, if the US declines, who else could take on the tremendous world role? No one. Rather than jeering, the rest of the world should consider just how much the US does, and step up support for it. The security of the world is at stake.The US has played a critical role in the Persian Gulf since Britain withdrew in 1971. Without a regional protector, regional crises would cause oil prices to spike, creating economic shocks around the world. Indeed, the most serious oil shocks have come when US capability in the region was weak (consider the 1973 Arab oil embargo, the 1979 Iranian revolution, the 1980 eruption of the Iran-Iraq war).Washington's role is also critical for Middle East peace. Israel is very strong, but a strain of its national psyche remains massively insecure. If Israel were to perceive American weakness, it would compensate by refusing to make serious concessions for peace.In Asia, Washington helps preempt a dangerous arms race. Understandably, the US wants Japan to fund more of its own costly defense. A weakening America would likely cause Japan to increase defense spending well beyond its norm of 1 percent of gross domestic product. That could trigger a runaway Asian arms race that hurts world security.

The world also benefits from the US-led fight against terrorism, the invasion of Iraq aside. America leads the world in fighting terrorism in Afghanistan, Pakistan, and around the world.The US also works hard to fight nuclear proliferation. The United Nations Security Council does not want a nuclear-armed Iran. Nor do most countries in the region. If the Iran nuclear standoff ends peacefully, it will be in part because Iran fears sustained US-led pressure. US credibility and strength are crucial here, as they are in containing North Korea.Economically, Washington has promoted free trade. Since the 1947 Marshall Plan, America has run trade deficits and yielded economic benefits to others so as to bolster the global economy and stay trade wars – a critical role. Then there is the question of who will help ensure stability in the oil-rich Persian Gulf. Iran has claimed that it can protect the region, but many Arab countries and other nations don't trust it. And Arab countries have repeatedly failed to develop the military force to protect the region. Europeans currently lack the force projection and the will to do the job.

If the US declines, what countries could play these global roles?

Of course, the US isn't perfect. In order to merit support, it must be multilateral in a globalized world and must accommodate rising powers. Certainly, Washington needs to make sure to be consistent in consulting and enlisting other nations before it hatches big plans. And then there is the fact that asking other countries to support the US is wrapped in politics. Yet, if the rest of the world doesn't step up and support America's overburdened and undersupported shoulders, global security could diminish exponentially.Here are three examples of what other countries could do to help lift the US burden:
1. Beijing should leverage its influence with Pakistan. If China could put pressure on Pakistan to stop supporting the Afghan Taliban facing US-led forces through its intelligence services, that could be just the right amount of pressure to force Pakistan to act. Deservedly, China is becoming a great power and should start supporting major global efforts.
2. Many of America's allies play important roles in Afghanistan, but all should contribute significantly more troops, nonmilitary personnel, and money. They also have much to lose from failure in Afghanistan and Pakistan.
3. As many countries as possible should back US-led threats of tougher sanctions and the threat of force in Iran, especially given recent revelations of Iran's secret nuclear facility near Qom. At a minimum, China should cancel any existing contracts to provide Iran with gasoline – contracts that may embolden Tehran. Without serious threats, Iran will not negotiate away its nuclear option, and a military showdown will be likely. Bolstering America makes far more sense for world security in the 21st century than hoping for its decline or undermining it.Steve Yetiv is a professor of political science at Old Dominion University and is the author of Crude Awakenings and The Absence of Grand Strategy.

Japan to carry out missile shoot-down off Hawaii: US OCT 27,09

WASHINGTON (AFP) – Japanese naval forces plan to shoot down a medium-range missile off Hawaii in a test of Tokyo's missile defense weaponry, the US military said.A Japanese destroyer will try to detect, track and knock out the missile in mid-flight with an SM-3 interceptor rocket, the US Missile Defense Agency (MDA) said in a statement.The test will be carried out in cooperation with the US Navy and the MDA on a range off the coast of Kauai in Hawaii, with a launch window set for 4:00 - 8:00 pm (0200 to 0600 GMT).The Japanese ship is equipped with the Aegis radar system, which tracks the incoming missile and directs the interceptor to the target. The destroyer will be loaded with additional SM-3 interceptors before heading back to Japan, the statement said.Japan has sought to bolster its missile defenses in the face of the threat posed by North Korea's missile and nuclear programs.US President Barack Obama's administration has said it will build a missile defense shield in Europe using the SM-3 interceptors and the Aegis radar system.

US-Israel drill may shape European missile shield By MICHAEL BARAJAS, Associated Press Writer – Tue Oct 27, 3:20 pm ET

TEL AVIV, Israel – A U.S. military officer said Tuesday that a major missile defense exercise staged by American and Israeli forces will help the development of a planned NATO missile shield for Europe.Some 2,000 U.S. and Israeli personnel are holding maneuvers this week and next to test technology that would protect Israel from a missile attack, setting up radar arrays along the coast and deploying naval vessels offshore. The allies plan to conduct a live-fire test during the exercise.

U.S. Army Col. Tony English told reporters visiting a coastal battery on the edge of Tel Aviv on Tuesday that it was the first major exercise integrating THAAD and Patriot ground-to-air missiles and the ship-launched Aegis system.This is the most complete air missile defense system we've ever done anywhere in the world,he said.

President Barack Obama announced last month that he was scrapping a Bush-era plan which would have put missile interceptors in Poland and the Czech Republic, a program deeply opposed by nearby Russia.In its place he proposed a reduced missile system linked to NATO. The Poles and the Czechs have said they will take part.NATO has praised the proposal as offering a defense from potential Iranian missile threats.The plan calls for U.S. Navy ships equipped with anti-missile weapons to form a front line of defense in the eastern Mediterranean. Those would be combined with land-based anti-missile systems to be placed in Europe.In Tel Aviv, English said the U.S.-Israeli exercise, codenamed Juniper Cobra 10, would benefit a future European deployment.We're going to learn a lot of lessons here that will definitely apply to that later system,he said.

US drone strikes may break international law: UN OCT 27,09

UNITED NATIONS (AFP) – US drone strikes against suspected terrorists in Afghanistan and Pakistan could be breaking international laws against summary executions, the UN's top investigator of such crimes said.The problem with the United States is that it is making an increased use of drones/Predators (which are) particularly prominently used now in relation to Pakistan and Afghanistan,UN Special Rapporteur on Extrajudicial Executions Philip Alston told a press conference.My concern is that drones/Predators are being operated in a framework which may well violate international humanitarian law and international human rights law,he said.US strikes with remote-controlled aircraft against Al-Qaeda and Taliban targets in Afghanistan and northwestern Pakistan have often resulted in civilian deaths and drawn bitter criticism from local populations.The onus is really on the United States government to reveal more about the ways in which it makes sure that arbitrary extrajudicial executions aren't in fact being carried out through the use of these weapons,he added.

Alston said he presented a report on the matter to the UN General Assembly.

He urged the United States to be more forthright about how and when it uses drone aircraft, something about which the US Defense Department and Central Intelligence Agency (CIA) usually keep silent.We need the United States to be more up front and say,OK, we're willing to discuss some aspects of this program,otherwise you have the really problematic bottom line that the CIA is running a program that is killing significant numbers of people and there is absolutely no accountability in terms of the relevant international laws,Alston said.Since August 2008, around 70 strikes by unmanned aircraft have killed close to 600 people in northwestern Pakistan.I would like to know the legal basis upon which the United States is operating, in other words... who is running the program, what accountability mechanisms are in place in relation to that,Alston said.Secondly, what precautions the United States is taking to ensure that these weapons are used strictly for purposes consistent with international humanitarian law.Third, what sort of review mechanism is there to evaluate when these weapons have been used? Those are the issues I'd like to see addressed,the UN official said.