Showing posts with label resists. Show all posts
Showing posts with label resists. Show all posts

2011/09/12

Russia resists Syria sanctions, U.N. says 2,600 dead (Reuters)

MOSCOW (Reuters) – Russia rejected on Monday Western calls for wider sanctions on Syria over its violent crackdown on protests against President Bashar al-Assad, in which the United Nations said 2,600 people have been killed.

A day after France described the lack of a firm U.N. stance against Damascus as a scandal, President Dmitry Medvedev said recent U.S. and European sanctions on Syria meant "additional pressure now is absolutely not needed in this direction."

Russia and China, veto-wielding members of the United Nations Security Council, have resisted efforts by Washington and its European allies to step up the international response to Syria's repression of nearly six months of protests.

Assad has reacted to the uprising, inspired by revolts which have toppled three North African leaders this year, with military assaults on protest centers and mass arrests.

Syrian opposition group Sawasiah said on Sunday 113 civilians had been killed in the last week, during which activists and diplomats say Syrian forces stepped up raids to detain protest coordinators.

The British-based Syrian Observatory for Human Rights said three people were killed on Monday. It said a father and son died during an operation by security forces in the town of Rastan, north of Hama, and a 12-year-old boy died when forces fired at a funeral in the Damascus suburb of Duma.

Residents and activists reported that several thousand soldiers and hundreds of armored vehicles had massed in the last 24 hours in areas north of the city of Hama which had seen large protests calling for Assad's removal.

Damascus blames armed groups for the violence. Assad's media adviser Bouthaina Shaaban, speaking on a trip to Moscow on Monday, gave a lower death toll than the United Nations and said half of the fatalities were among security forces.

"According to our information, 700 people were killed on the side of the army and police and 700 on the side of the insurgents," Shaaban told reporters through a translator.

U.N. High Commissioner for Human Rights Navi Pillay said the United Nations figure was based on "reliable sources on the ground."

"The number of those killed since the onset of the unrest in mid-March ... has now reached at least 2,600," Pillay told the U.N. Human Rights Council.

She did not identify the sources. Syria has barred Pillay's investigation team and most foreign journalists from entering the country. Syria had also repeatedly blocked U.N. efforts to get human rights monitors into the country, U.N. humanitarian affairs chief Valerie Amos said.

FRANCE WANTS "CLEAR UN RESOLUTION"

France, Britain, the United States, Germany and Portugal have circulated a draft U.N. Security Council resolution that called for sanctions against Assad, influential relatives and close associates, but it met resistance from Russia and China.

"I think it's a scandal not to have a clear position of the U.N. in such a terrible crisis," French Foreign Minister Alain Juppe said on Sunday.

"We think that the regime has lost its legitimacy. We think that it's too late to implement a level of reform. We should adopt in New York a very clear resolution condemning the violence."

Medvedev said Russia believed any resolution must be "tough but balanced, and addressed to both sides in Syria," and that it must not automatically lead to further sanctions because "there is already a large number of sanctions against Syria."

Syrian demonstrators have demanded international protection to stop civilian killings, but there has been no hint in the West of any appetite for military action along the lines of the NATO bombing that helped topple Libya's Muammar Gaddafi.

Intervention would be a daunting prospect in a country in the heart of the volatile Middle East. Syria has three times Libya's population, supports Palestinian and Lebanese militant groups and has a strong alliance with Iran. It remains formally at war with Israel, retains influence in Lebanon and has a sizeable Kurdish minority in its east.

After talks in Damascus with Assad, Arab League chief Nabil Elaraby said they had agreed on a series of measures that he would present to league member states to help end the violence.

Assad has announced some reforms such as ending emergency law and launching a "national dialogue." Opponents say these have made little difference.

Residents and local activists said thousands of troops and hundreds of armored vehicles were gathered on Monday near the main highway leading to Turkey and in the al-Ghab Plain to the northwest of the city of Hama, as well as other areas.

An armored force drove into al-Ghab Plain in the morning and fired heavy machineguns at Sunni Muslim villages around the ancient Roman ruins of Aphamea and nearby villages, they said.

"This is the second incursion into the area around Aphamea in less than a month because protests resumed since their last attack," a local activist said.

Among hundreds of Syrians arrested in recent days was leading psychoanalyst Rafah Nashed, 66, who has been treating people traumatised by the mounting repression, her friends said.

Syrian authorities do not comment on arrests but have said in the past that any arrests are made in accordance with the constitution.

(Additional reporting by Khaled Yacoub Oweis in Amman, Robert Evans in Geneva and Gleb Bryanski in Moscow; Writing by Dominic Evans; Editing by Peter Graff)


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2011/08/10

Debt crisis resists assault by ECB and global leaders (AFP)

FRANKFURT (AFP) – World leaders scrambled Monday to ensure financial and economic stability as the European Central Bank bought eurozone bonds to stem a spiralling debt crisis, but chronic doubts endured and battered markets tumbled again.

Finance ministers and central bankers from the Group of 20 industrialised and emerging economies pledged to "take all necessary initiatives in a coordinated way to support financial stability and to foster stronger economic growth in a spirit of cooperation and confidence."

Their statement came after Asian stock markets suffered heavy losses and European trade saw promising gains melt by noon, with Friday's unprecedented US ratings downgrade adding to the toxic cocktail.

A sharply-worded editorial in the Chinese People's Daily -- the mouthpiece of China's Communist Party -- said Western nations threatened global well-being by "ignoring their responsibility" to the rest of the world.

The G20 stressed that its members would maintain constant contact "to ensure financial stability and liquidity in financial markets."

Earlier, the Group of Seven (G7) industrialised countries -- Britain, Canada, France, Germany, Italy, Japan and the United States -- made a similar commitment.

Sentiment on major European financial markets took a stab at resisting the downward trend before throwing in the towel and heading firmly south as well.

Economists warned that even the long-awaited ECB intervention on bond markets was no "silver bullet" and that big obstacles remained to stabilising strained public finances and putting credible eurozone defence mechanisms in place.

The G7 and G20 statements came after a whirlwind of weekend conference calls between political leaders and officials who saw storm clouds hovering over the markets.

The moves were part of a global response dictated by Standard & Poor's taking the historic step of cutting its US credit rating to AA+ from the top notch triple-A late on Friday.

As Europe struggles with its problems, global markets also want to know how Washington will reduce its more than $14 trillion debt without choking off an economic recovery since a modest US debt deal.

Late Sunday, the ECB said it would "actively implement" a programme that buys eurozone bonds, a measure which seemed to be working Monday, at least initially, as pressure eased on Italian and Spanish government debt.

That was also helped by Italy and Spain announcing measures to curb deficits and debt, and France and Germany pushing for full and rapid implementation of measures agreed at an emergency eurozone summit last month to protect the euro.

"However, we think it would be optimistic to assume that this response will be sustained or that the bond purchases will do much to address the eurozone?s fiscal crisis," Capital Economics chief economist Jonathan Loynes said.

Asian stock markets were the first to give a group reaction to the US downgrade and prospect of a serious global economic slump.

Tokyo shed 2.18 percent, Hong Kong lost 2.11 percent, Sydney fell 2.91 percent, Seoul sank 3.82 percent and Shanghai lost 3.55 percent.

In Europe, stock markets initially showed signs of resilience but later began a slide that accelerated once Wall Street opened.

London's FTSE-100 index closed down 3.39 percent to 5,068.95 points, while in Frankfurt the DAX dropped 5.02 percent to 5,923.27 points. In Paris, the CAC-40 slid 4.68 percent to 3,125.19 points.

Markets in Madrid and Milan initially bounced higher as news of the ECB's intervention, but they also got caught up in the sell off, losing 2.44 percent and 2.43 percent respectively.

Safe-haven gold surged to a record $1,715.75 per ounce, before finishing the day at $1,693. The euro slid to $1.4234 from $1.4282 on Friday.

On Wall Street, the Dow Jones Industrial Average was down 2.9 percent in afternoon trading at 11,109.93 points.

The broader S&P 500 dropped 3.8 percent to 1,153.74 points, while the tech-heavy Nasdaq Composite plunged 4.0 percent to 2,432.30 points.

Analysts said dissension among ECB governors on the bond purchases could curb the intervention and Commerzbank analyst Bernd Weidensteiner added: "In principle, the crisis can probably only be tackled by reducing deficit and stabilising debt levels. But this needs time."

IHS Global Insight chief economist Howard Archer said the ECB was building an essential firewall for Madrid and Rome but could not be content with "half-hearted measures in exercising its function as ?true lender of last resort? - the markets need to be absolutely convinced."

Deutsche Bank economist Gilles Moec said the focus would now shift to the lending capacity of the European Financial Stability Facility (EFSF), the eurozone's rescue fund that is too small to bail out Italy or Spain if they go the way of Greece, Ireland and Portugal.

But a German government spokesman said there were no plans to boost the 440-billion-euro ($625-billion) EFSF, which is supposed to take over bond buying from the ECB as soon as possible.

The ECB is the only European institution capable of acting fast and keeping at bay so-called bond vigilantes who strike fear into finance officials.

But Barclays Capital economists warned that it might be hard to buy enough government debt to keep the pressure off for long.

Goldman Sachs economists estimated the ECB would have to purchase at least 100-130 billion euros worth of Italian and Spanish bonds, compared with the total amount it had held until now of 74 billion euros.

Italy, the eurozone's third largest economy, saw its borrowing costs hit record highs last week.


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