(See links below for discussion of this issue):

ABC online: http://www.abc.net.au/news/stories/2010/11/08/3059734.htm

The Drum (ABC): http://www.abc.net.au/news/stories/2010/11/05/3058578.htm?site=thedrum

The Age newspaper: http://www.theage.com.au/business/new-bank-guidelines-to-define-term-gouging-20101107-17iy9.html

The Australian newspaper: http://www.theaustralian.com.au/national-affairs/banks-should-offer-competitive-deals-says-opposition/story-fn59niix-1225949358548

Is it about fairness, or is it a populist ‘bank-bashing’ exercise? A strong banking sector is arguably essential to a healthy and functioning economy. In fact, it is often lauded as a reason why the Australian economy avoided a technical recession during the global financial crisis (GFC). However, carefully designed and implemented regulation is also an essential ingredient.

A balance needs to be struck between smart regulation to promote competition while allowing the major banks to remain strong.

The government is under pressure from all sides on this issue and, while the sentiment for competition and change is strong within the community, with the power weilded by the banking lobby it is hard to see how they will be substantially tamed to the point of even denting the $5b profit reporting.

See link below from the Australian Broadcasting Corporation (ABC) website:

http://www.abc.net.au/news/stories/2010/11/07/3059289.htm

G.B.C xo

That's my excuse and I'm sticking to it!

Greetings Political Junkies,

As you have no doubt seen, heard or read the Obama Administration successfully passed a long awaited and often fiercly disputed reform package.  Even down here in sunny Australia – where health is being debated today at the National Press Club - the US reform bill has been heavily featured on the news cycle (alongside FAR more pressing matters such as Tiger Woods’ return to golf, and Michael Clark’s un-engagement to Lara Bingle). 

Here are some links to related stories on the health care reform:

Australian Broadcasting Corporation (ABC): http://www.abc.net.au/news/stories/2010/03/22/2853079.htm?site=news

British Broadcasting Corporation (BBC): http://news.bbc.co.uk/2/hi/americas/8580192.stm

A worrying clip from ‘You Tube’: http://www.youtube.com/watch?v=pilG7PCV448

Analysis of the Australian leaders’ debate and links to a live stream12.30 AEST can be accessed here:  http://www.abc.net.au/news/stories/2010/03/23/2853470.htm

Good health to you all,

Grievous Bodily Charm

Thanks to http://mossagrow.wordpress.com/2008/07/01/health-cartoon/ for the image. Unable to trace original author.

A Year of Elections

After a year or so out of the ‘blogosphere’ the Politics Club Blog is back!

Thank you for all of your correspondence while we have not been posting new stories.  It is certainly an understatement to say that a lot has happened since our last post!

In Australia this year there is a plethora of electoral madness.  Yesterday voters in both Tasmania and South Australia went to the polls with results at this stage too close to call.  For excellent coverage of these polls check out the Australian Broadcasting Corporation (ABC) ‘Elections’ website:

http://www.abc.net.au/elections/home/sa-tas.htm

Further to this, there is a Federal election in Australia due at some stage this year as well as a Victorian State election this November.  The UK has a General Election due also, while elections have just occurred in Afghanistan and Iraq.

Be sure to keep your eye on the Politics Club blog for updates on what makes political news around the world and, as always, please feel free to correspond by positing comments or emailing us!

May the polls be in your favour,

Grievous Bodily Charm

(Ballot Box image courtesy of: http://australianpolitics.com/elections/ )

Criticism of various government policies, initiatives and forced changes suggests that the election will be a very close affair.  Amongst such contentious issues include key policy areas of health and education such as the cuts to teaching positions and changes to conditions that are arguably crippling the Territory’s teaching force and inflicting significant damage to morale within the profession. 

The ruling Labor Party had largely responded well to their mandate to govern; however, a growing reluctance to adequately and openly consult with the public on some matters has shown cracks.

“These are remains from 33 Indigenous Australians that were taken to the United States and the traditional owners who are going to collect them believe the remains may include their grandmother, so it is a very significant collection,” she said.  (Source: ABC Online http://www.abc.net.au/news/stories/2008/07/26/2315450.htm )

Mr Mithen

In 2005, when Rezko was already known to be under criminal investigation for
money laundering, fraud, extortion and similar activities, the Obamas bought
a property in Chicago, and their friend Mrs Rezko bought a garden next door
at the same time. The only access to the garden was through the Obama’s
property. It turns out that just weeks before the purchases, Tony Rezko was
loaned money by Nadhmi Auchi, an Iraqi born British billionaire, arms dealer
to Saddam Hussein in the past. The result of Rezko breaking his bail
agreement by failing to declare a second £3.5 million US dollars loan from
Auchi, was that Rezko received a prison sentence. British billionaire Mr
Auchi, a business partner of Rezko’s who had loaned him millions of dollars,
has been accused of paying ‘kickbacks’ to obtain oil deals. In 2003 he was
convicted of corruption in France, but is respected as a successful
businessman by the British government. 

Barack Obama has donated to charity the amount of funds given to his
campaign by Rezko. He is not accused of doing anything wrong, and claimed
that he did not know about Rezko’s corruption and connections. However,
Obama has known Rezko for eighteen years, since being offered a job by him
while Obama was still in law school. Obama did not take the job, but in 1995
Rezko supported him in his campaign to become an Illinois state senator. In
2003 Rezko was on Obama’s finance committee when he ran for US Senate. 
Chicago and Illinois politics and government are notorious for corruption,
with three major investigations since the 1980s resulting in convictions of
sixteen judges and 56 lawyers, many Chicago Aldermen (1990s), and other
State officials (2000s). It may be hard to persuade voters later on in the
Presidential campaign that an experienced Illinois politician would not at
least hear strong rumours about who is and who is not corrupt. 

Perhaps Obama was not aware of Rezko’s activities, but there is no question
that he keeps strange company for someone running for the Democratic
nomination for the Presidential elections on a ‘clean and pure’ ticket. 

http://www.timesonline.co.uk/tol/news/world/us_and_americas/us_elections/article3486054.ece

United States Department of Justice: Northern District of Illinois.
Operation Safe Road. Operation Greylord. Operation Silver Shovel

http://www.usdoj.gov/usao/iln/osr/index.html

Aleks Loesch – Lower 6th Form

However, President of the European Commission, Manuel Barroso has since declared the Treaty is ‘not dead’ despite the necessity for a unanimous vote in each of the twenty seven EU states. Barroso continued to state ‘we should not rush to conclusions’ causing many analysts to believe the choice of the Irish people could even be overridden by their political leaders. The Treaty was signed in December 2007 by the leaders of each state with the hope of it gradually coming into force from January 2009, however, the Irish rejection has placed its future into turmoil.

Under existing circumstances there are still options open for the Treaty but none of them can be implemented easily. Nine countries are yet to ratify the treaty causing many to believe by the time that process ends, a solution for the Irish “exception” mayt have been negotiated. For example, Ireland could be granted additional opt-outs and guarantees on sensitive issues such as abortion and national neutrality in order to ensure the Treaty has the backing of the Irish people.

Alternatively, The EU could scrap the Lisbon Treaty just as the proposals for the Constitution were repackaged following the Lisbon Treaty following French and Dutch ‘No’ votes in 2005. Key parts of Lisbon could be repackaged into a shorter, more comprehensible document to voters throughout Europe. Under this scenario, the ratification process starts again and Ireland holds another referendum. In 2001 Ireland rejected the Nice Treaty but then said ‘Yes’ to it just over a year later causing this process to appear a possibility. However, the process is already appearing indefinite while a further repackaging would just appear time consuming with no end in sight.

Perhaps most drastically a two tier system could be developed. Those nations keen on further EU integration could form an informal club within the EU creating dangerous internal tension. Both Ireland and the UK prefer a looser union which could threaten their position within the EU.

Irish Prime Minister, Brian Cowen, reflected Barroso’s statement: “Once again in Europe, a treaty supported by the leaders of all member states has unable to secure popular support in a ballot. We must not rush to conclusions.” He went on to explain the Irish government seeks to explain to EU officials that this does not mean Ireland are now anti-EU, making negotiations and compromise appear likely,

Foreign secretary David Miliband declared Britain would not pressurize Ireland on their future actions. He continued to state: “It’s right that we follow the view that each country must see the ratification process to a conclusion”,

The referendum is undoubtedly a historical event in Irish and European politics, with the continental project reaching a stumbling block by a country with a population of only four million people. With a low turnout of 40 per cent (the minimum necessary to make the referendum valid) and a narrow vote of 53.4% to 46.6% against the Treaty, some analysts have come to question the structure of the EU with such a small percentage of the overall population impeding the development of the Union.

The future of EU development appears to continue to be a highly divisive issue. Since the nature of the EU causes the backing of each state to be essential, future European integration remains without resolution.

David Rank – Portland Place School