EUROPEAN CENTRAL BANK RATE HIKES 2011

EUROPEAN CENTRAL BANK RATE HIKES

Let me just present some facts regarding the central bank rate hikes. I understand that the ECB faces more pass-through from higher energy prices to core inflation. It is my belief that euro-zone crisis could still blow up this spring, whether ECB is willing to continue offering a free put on Greek, Irish and Portuguese bonds. In addition, Japan’s catastrophe – the uncertainty surrounding the world’s second largest economy about nuclear contamination is another fact to go slowly. I think radioactivity spread curtail production at least for some time, a major slow down of the Japanese economy would have to be expected, with repercussions also for world growth. April rise now looks like it would be mistake. This is not the time to follow the rigid interest rate rules.

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Nagorno-Karabakh conflict

To put things into perspective, Nagorno-Karabakh is not an independent entity but an occupied territory of the Azerbaijan Republic and is recognised by the international community and the UN. The fact that the Armenian Prime Minister's son is doing his military service in the Armenian army located in Azerbaijan's Nagorno-Karabakh and started an undeclared war against Azerbaijan, occupied Nagorno-Karabakh and 7 adjacent regions of Azerbaijan, and massacred and forcefully deported Azerbaijani aborigines was the main reason for the lack of peace in the region. The laws of armed conflict failed to protect the Nagorno-Karabakh civilian population, individual civilians, and civilian property. The laws of armed conflict failed to discriminate between those taking parts in the fighting in Nagorno-Karabakh. The laws of armed conflict failed to protect the environment as war causes severe or long term damage to the environment. The fact here is that there is a number of international doc...

THANK YOU NOTE TO FORMER CHIEF JUSTICE OF INDIA DR A S ANAND

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