Despite U.N. Treaties, War Against Drugs a Losing Battle

By Thalif Deen

UNITED NATIONS, Feb 2015 (IPS) – As the call for the decriminalisation of drugs steadily picks up steam worldwide, a new study by a British charity concludes there has been no significant reduction in the global use of illicit drugs since the creation of three key U.N. anti-drug conventions, the first of which came into force over half a century ago.

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This Year’s Climate Talks Are Our Last (and Best) Chance to Slow Global Warming

David Kortava – The Nation

An interview with Jeffrey Sachs on the 2015 Paris negotiations, sustainable development and the profound threat facing our planet.

In December 2015, world leaders will gather in Paris to negotiate a binding agreement to reduce global carbon emissions. It will be the twenty-first major UN climate summit since 1992. Two decades of conferences have coincided with mounting emissions and rising temperatures. Indeed, the World Meteorological Organization has pronounced 2014 as the warmest year on record for the planet. And the latest Intergovernmental Panel on Climate Change report warns that—short of a “substantial and sustained” reduction in greenhouse gas emissions—we will experience more frequent heat waves, droughts, storm surges, shocks to the world food supply and other extreme weather-related events.

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How addiction to debt came even to China

Martin Wolf -Financial Times

Huge increases in private sector credit preceded many financial crises

Balance sheets matter. This is the biggest lesson of the financial crises that have rolled across the world economy. Changes in balance sheets shape the performance of economies, as credit moves in self-fulfilling cycles of optimism and pessimism. The world economy has become credit addicted. China could well be the next victim.

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How I became an erratic Marxist

By Yanis Varoufakis – The Guardian

Before he entered politics, Yanis Varoufakis, the iconoclastic Greek finance minister at the centre of the latest eurozone standoff, wrote this searing account of European capitalism and and how the left can learn from Marx’s mistakes

In 2008, capitalism had its second global spasm. The financial crisis set off a chain reaction that pushed Europe into a downward spiral that continues to this day. Europe’s present situation is not merely a threat for workers, for the dispossessed, for the bankers, for social classes or, indeed, nations. No, Europe’s current posture poses a threat to civilisation as we know it.

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You Must Follow International Law (Unless You’re America)

Alfred W. McCoy – The Nation (*)

How Washington gave itself a global get-out-of-jail-free card

“The sovereign is he who decides on the exception,” said conservative thinker Carl Schmitt in 1922, meaning that a nation’s leader can defy the law to serve the greater good. Though Schmitt’s service as Nazi Germany’s chief jurist and his unwavering support for Hitler from the night of the long knives to Kristallnacht and beyond damaged his reputation for decades, today his ideas have achieved unimagined influence. They have, in fact, shaped the neo-conservative view of presidential power that has become broadly bipartisan since 9/11. Indeed, Schmitt has influenced American politics directly through his intellectual protégé Leo Strauss who, as an émigré professor at the University of Chicago, trained Bush administration architects of the Iraq war Paul Wolfowitz and Abram Shulsky.

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Economic Growth Is Not Enough

Analysis by Jessica Faieta*

NEW YORK, Feb 23 2015 (IPS) – Recent new data show a worrying picture of Latin America and the Caribbean. Income poverty reduction has stagnated and the number of poor has risen — for the first time in a decade — according to recent figures from the Economic Commission for Latin America and the Caribbean.

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In their cynicism about Putin, western diplomats are making the Ukrainian crisis worse

Mary Dejevsky – The Guardian

Ever since the roadmap for peace in Ukraine was agreed last week, the prevailing mood in western capitals has been pessimism laced with cynicism. In the unlikely event that the ceasefire somehow takes hold, this will be interpreted as proof positive that the terms favoured Russia. Whatever happens, Russia – or, more specifically, President Putin – will be to blame.

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The Greek Debt and the Central European Bank bet on speculation

By Héctor Vega*

What is the existing data related to the Greek debt? Debt payment conditions as per the Troika –the European Central Bank (ECB), IMF and European Community– place a stranglehold on the Greek government rather than assisting towards a possible solution. How does this come about? First of all, this reminds me of what happened with Germany after the First World War when the victorious powers settled on war reparations of up to 40% of its GDP –, in the end only half of this was paid.

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What A Grexit Would Really Mean For The Eurozone

George Irvin* – Social Europe

Is Frau Merkel forcing Greece’s departure from the Eurozone (EZ)? As Eurogroup ministers met again in Brussels on 16thFebruary, a solution to the present crisis could not be found. Although the much-favoured option involves de facto cancellation of part of the Greek debt, what SYRIZA was asking for at the moment was only a short-term ‘bridging loan’ to give the country some breathing room; i.e., to ensure the Greek central bank does not run out of money in the coming week.

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Global governance and common values: the unavoidable debate

Roberto Savio*

Abstract
The author analyses the current stage in history, marked by a lack of global governance. There is little hope of achieving this in the short term as we are undergoing a period of transition.
This text, that sets out to unravel the world’s chaos, describes some eight gaps to be filled. On this path towards global governance, international relations has emerged as a new and significant reality.
It is unlikely that global governance will be achieved in the short-term. The only viable long term plan is to encourage a discussion to establish common values shared by most of humankind.
Ultimately, the author proposes that if we are to achieve real and lasting global governance, the debate will have to revert to core values on which to base our coexistence.

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Europe’s Ideologues of Austerity Stand in the Way of Reforms

Katrina vanden Heuvel* – The Nation

“Things fall apart; the centre cannot hold; Mere anarchy is loosed upon the world” — William Butler Yeats

Yeats’s poem “The Second Coming” captures reality in Europe these days, although surely not in the sense the poet intended. In Germany, the popular press is captivated by the face-off of the stern German Finance Minister Wolfgang Schäuble, clad in black suit and tie and white shirt, against the “charismatic,” “heartthrob,” new Greek Finance Minister Yanis Varoufakis, bald head, dress shirt unbuttoned and untucked, scarf draped for effect. Only the appearances are deceiving. The buttoned-up Schäuble is the ideologue, with doctrine blinding him to reality. The rakish Varoufakis is the pragmatist, seeking a sensible way out of a catastrophe.

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The only way for Greece is out of the eurozone

Simon Jenkins* – The Guardian

Pray for plan B. However many times Greece’s new leaders swear there is none – pacifying their terrified bankers – they must know what to do if last night’s debt renewal disarray continues. They must take the plunge, bite the bullet, face the music, lance the boil. Only by ending the terrible mistake that was Greece’s eurozone membership can its economy hope to recover.

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