Glenys and Neil Kinnock Have Six State Pensions 'Glenys Kinnock, the new minister for Europe, has amassed six publicly funded pensions worth £185,000 per year with her husband Neil, the former leader of the Labour party. They have already received up to £8m of taxpayers’ money in pay and allowances, he as a European commissioner and she as a member of the European parliament.' Corruption Runs Far Deeper Than Fiddling MPs’ Expenses 'UK politicians are currently reeling from a public lashing for fiddling their expenses big-time. Such is their arrogance that many, when confronted with their crimes, don't see that they have done anything wrong. The guilty ones who step down will be further enriched with a lavish resettlement allowance and a big pension pot. To appease voters’ anger Parliament and government are now promising anti-sleaze reforms. They are calling on the impressive-sounding Committee on Standards in Public Life to investigate and make recommendations. Conservative leader David Cameron, who has expectations of becoming the next British prime minister, talks of purging his party of its cheats and racketeers. But swindling the taxpayer over MPs' expenses is nothing compared to other corruption that's rife in Westminster. It is said that becoming a Friend of Israel is a necessary stepping-stone to high office.' Bernanke's Next Parlor Trick 'Federal Reserve boss Ben Bernanke is getting ready to pull another rabbit out of his hat and he's hoping no one figures out what he's up to. Here's the scoop; the Fed chief needs to "borrow up to $3.25 trillion in the fiscal year ending Sept. 30" (Bloomberg) without triggering a run on the dollar. But, how? If the stock market keeps surging, investors will turn their backs on low-yielding US Treasuries and move into riskier securities hoping for better returns. The only way to attract more buyers to US debt is by raising interest rates which will kill the "green shoots" of recovery and make it harder for people to buy homes and cars. It's a conundrum.' Lisbon Treaty May Have to be Approved for Second Time 'A new Commons vote could prove explosive and would be seized on by the Tories and UKIP who made big gains in the recent European elections on the back of their opposition to the agreement. Last year, Irish voters rejected the treaty which will increase the power in Brussels power and create a new EU president and euro diplomatic service. They will vote on the document again this autumn and the EU is working on a number of opt-outs to offer as sweeteners in an attempt to get it through this time. The Irish government is seeking legally binding “protocols” to the treaty to show voters it has won substantial changes since the rejection last June. But legally-binding opt-outs would have to be ratified by a separate parliamentary vote in Britain, either straight away or when Croatia joins the EU next year.'Sunday, 14 June 2009 
Sunday, 14 June 2009
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