India’s analysts back India-Pakistan dialogue

The country’s leading strategic analysts have urged India to go ahead with talks with Pakistan and not allow Saturday’s Pune blast to weaken its resolve. The Hindu

Iran receives new nuclear proposal from West

The head of Iran’s nuclear program said Monday that the country received a new proposal last week from the United States, Russia and France, three of the countries trying to rein in Tehran’s uranium enrichment program. AP

Israel asks Russia to back Iran sanctions

Israeli Prime Minister Benjamin Netanyahu Monday said he had asked Russian President Dmitry Medvedev to back “sanctions with teeth” targeting Iran’s energy sector. Reuters

18 killed in Belgian train crash

At least 18 people died and 55 were hurt when two trains collided in Belgium Monday, an official told CNN, adding that the numbers may not be final.
The mayor of Halle, the town where the collision took place, Dirk Pieters, earlier said 20 had died, Belgium’s official news agency reported.
The trains collided head-on at 8:30 a.m. local time (2:30 a.m. ET), the companies that run the Belgian railways and the train said in a statement.
The cause of the accident is not known, railway operator Infrabel and SNCB, the train operator, said. CNN

Hezbollah pledges full cooperation with Hariri

A Hezbollah delegation headed by MP Mohammed Raad met Lebanon’s PM Saad Hariri’s at his Beirut downtown residence.
Raad who was accompanied by minister Mohammad Fneish and MP Hassan Fadlallah said following the meeting : “We assured him of our full cooperation to ensure cabinet’s success. “

Clockwise from left: MP Hassan Fadlallah, minister Mohammad Fneish, MP Mohammed Raad and PM Saad Hariri

4 killed in Palestinian camp clashes in south Lebanon

Four 4 people were killed in Ain el-Helweh clashes between mainstream Fatah Movement and Osbat al-Ansar militants in the Ain el-Helweh Palestinian refugee camp in south Lebanon. One of the victims is a Fatah member and another is a civilian woman .
Munir al-Maqdah, head of the main police force in the camp, is working on easing the situation.
Based on the so called “Cairo accord ” dated November 2 , 1969, the Lebanese army is not authorized to enter the Palestinian refugee camp. The accord was signed in Cairo by Yassir Arafat and the Lebanese army commander General Emile Bustani. The Cairo accord effectively established “a state within a state” for the Palestinians in Lebanon

ET409 crash: DNA testing identified 60 victims

DNA testing has so far identified the remains of 60 of the victims of the Ethiopian Airlines crash of flight ET409 and more testing is being done today
The Lebanese army divers are in the final stages of the search for victims of the plane crash according to local reports. 90 passengers and crew members were on the plane when it crashed last January, minutes after takeoff from the Beirut Airport. One black box was found and sent to Paris for analysis but the other black box ( cockpit voice recorder ) was missing a vital part when it was found and the Lebanese army is still searching for it.
The recovering of the remaining debris of the plane is awaiting a decision by the international committee investigating the crash.

Jumblatt & son met Hezbollah chief

Hezbollah Secretary General Sayyed Hassan Nasrallah met with Progressive Socialist Party leader MP Walid Jumblatt for 3 hours according to Al Manar TV . Both reportedly stressed on unity, cohesion and dialogue.
Hezbollah issued a statement on Monday in which it said Nasrallah in the presence of Hezbollah official Wafiq Safa met Jumblatt, who was accompanied by his son Taymour and Minister of Displaced Akram Shehayeb

Neither Hezbollah’s statement nor Al Manar TV mentioned the the exact day of their meeting , but As-Safir newspaper said the two leaders met Sunday afternoon.

According to the Hezbollah  statement, both men touched on the ongoing Israeli threats against Lebanon and Syria, calling on all parties to unite.

Nasrallah is reportedly helping Jumblatt with his visit to Syria

Photo:  Clockwise left  Taymour Jumblatt, Walid Jumblatt, Hassan Nasrallah, Akram Shehayeb and Wafiq Safa

Syrian newspaper: Siniora, Geagea target Hezbollah in Feb 14 speeches

Syrian newspaper Al-Watan accused Lebanon’s former prime minister MP Fouad Siniora and Lebanese Forces leader Samir Geagea of trageting Hezbollah and its weapons in their February 14 speeches during the 5th anniversary commemoration of Lebanon’s former PM Rafik Hariri .
The paper said “Siniora’s speech resembled the ones he had during his tenure as prime minister and Geagea’s speech had no surprises since he always targets the Resistance’s arms”
Al-Watan described the speeches of PM Hariri and Phalange Party leader Amin Gemayel as balanced and in line with recent Arab reconciliations, but the paper said Gemayel’s speech was “weak in structure and closer to a political statement than a speech.”
Since in Syria there is no free press, many analysts believe that Al-Watan’s report reflects the views of the Syrian regime. Hezbollah is Syria’s key ally in Lebanon.

General view of the 5th anniversary commemoration of Lebanon’s former PM Rafik Hariri, February 14 , 2010

Sovereign debt and Pigouvian Taxes

By Ghassan Karam
Sovereign debt, as a potentially crippling fiscal problem world wide, has risen to the forefront over the past few months.