Euro allergies
The worst Eurosceptics scare-stories became reality this week when the British journal Nature published an article linking euro coins to allergies.
The nickel-sensitive would be well advised to join the anti-euro crusades raging in those countries not already burdened with the plaguerous moolah. According to scientists from the University of Zurich, the one and two euro coins release traces of metal nickel at levels somewhere between 240 and 320 times higher than EU norms. Youd have thought there would have been a Brussels directive...
One and two euro coins are made of two different metals. The belief is that this bi-metal structure an inner and outer pill makes them more corrosive. Sweaty hands are in particular danger all those nervous Europeans. In fact, believe it or not, holding one of the coins in a sweaty palm releases more nickel into your hand than would holding a piece of pure nickel.
And just when the euro was picking up on the currency markets as well.
Skin tests involved nickel-sensitive subjects (the report did not mention their currency allegiance) having the coins taped to their skin for up to 72 hours (a common nightmare on Britains Tory backbenches). All showed positive results.
A Spanish hospital reported having treated more than twenty such cases in January, when the currency went into circulation. The patients reported prickly sensations and rashes.
Well, we had been warned.
Russian love
Still, it seems the news hasnt travelled east. It emerged this week that for the first time since the single currency was launched, Russians are buying more euros than dollars.
The dollar has fallen 15 per cent against the euro this year. Russians have taken note. In July, over $700 million of euros were imported into Russia, compared with $573 million of, well, dollars.
Still, the euro has some way to go before it reaches the levels of the dollar when it comes to the stashing of hard currency. Billions of dollars are currently lying under the mattresses of Russians beds. The BBC describes how after the three-times crash of the ruble in the nineties, Russians now keep a hawklike watch on foreign exchange rates.
In July, the government was forced to issue a warning to the public: dont dump your dollars. Its too early to expect that. But watch out, the euro is making waves.
Soviet privatisation
Meanwhile, old Russia met new this week when the spot where Lenin hid in a hayloft in the summer of 1917, after the Provisional Government had put a price on his head, was sold at auction as prime real estate.
The capitalist investment lies at the Gulf of Finland. Plots of state land at Razliv have been fetching a high price. $8000 will get you one hundred square metres. Distinctly non-proletariat numbers. Russias new generation of elite businessmen and women have been buying up the place, erecting luxury villas, and restricting access to the lake. What was that Lenin said about private property again?
This is such a nice place, one woman, a local resident, told reporters. We often went for a walk there. Now we cant approach the lake at all.
After failing to usher in the Bolshevik revolution in July 1917, Lenin fled to Razliv. He slept in a hayloft, shaved off his beard and wore a wig not through choice, he was in disguise. There, depite the harships, he wrote State and Revolution.
But times sure have changed. The sale of property in Razliv is being supervised by the St. Petersburg Property Fund. It is a state-run trust charged with running the city authorities land privatisation scheme.
The auction brought in 31 million rubles for the city authorities. Not suprisingly, they are fans of the scheme. High walls, electric fencing and CCTV cameras have appeared.
Lenin must be turning in his balm.
Dollar politics
In the seminal openDemocracy debate on Globalisation, Professor David Held suggested that the biggest political issue facing the globe might well be US campaign finance reform.
So, hows that going?
Not very well judging by the latest figures. The New York Times ran a story this week assessing the money being spent on the current races for Governor. They concluded that driven by wealthy, self-financed candidates, tight contests, donors seeking access to statehouses and aggressive fundraising by incumbents, the Governors races are setting records for campaign spending.
Tony Sanchez, an oil and gas tycoon running for the Governorship of Texas is on a Democratic ticket, looks set to spend $70 million in his bid to unseat Republican Governor, Rick Perry.
Democratic Californian Governor, Gray Davis, has amassed a cool $55 million. The NYT notes the claims of critics that the money has come from those who have directly benefited from Davis actions as Governor, including diet-pill regulation and pay increases for prison guards (their examples). But A Davis aide responds that just as many campaign contributors have been hurt by the governors policies.
To New Hampshire, where three Republican candidates spent $15 million before last Tuesdays primary. The winner, Craig Benson, spent $9 million. Thats about $160 per vote. As the NYT points out, this is considerably more than the $100 per vote that Michael Bloomberg was said to have paid for his Mayoral victory in New York last year. The Bloomberg case caused an outcry from critics.
The expectation is that the more populous states are likely to see total campaign spending double, or even triple, from four years ago. In Pennsylvania, candidates spending may reach $60 million, three times that of 1998. In New York, total expenditure could reach $90 million, more than double 1998s record amount. In Texas, a race likely to cost $100 million, will be more than the last three races combined (and think who was running then!).
Thus far, $208 million has been spent on television advertisments. Garry South, Gray Davis top political aide, estimates that the campaign will spend more than $40 million on TV adverts.
Many state laws do not limit the amount that a candidate can collect.
On the menu: two sackings
Finally, its been a busy week in Korea. While the North has been apologising for the kidnapping of Japanese, the South has been embroiled in a scandal surrounding the Presidents eating habits.
President Kim Dae-Jung has sacked two junior members of his staff who have published a book that reveals details about the first familys favourite snacks.
The book is called What do people eat at the Blue House? (the Presidential mansion), and was penned by members of the kitchen staff. It reveals how President Kim has a thing for instant noodles, while his wife, First Lady Lee Hee-ho, cant resist a bucket of popcorn.
So, healthy eaters then.
Presidential official Park Sun-sook was not impressed. Every government in the world treats as important secrets select information about its highest leaders, he said. He claims the book contains sensitive and classified security details ab0ut the Blue House, but would give no details about information he claimed was false.
Police are now on the case, investigating the publishers.
Quotes of the week
Though they died in tragedy, they did not die in vain.
President George W. Bush, marking the anniversary of the 11 September attacks.
You cannot exercise your powers to the point of humiliation for others. That is what the Western world not only the Americans has to realise. I do think that the Western world is getting too rich in relation to the poor world and necessarily will be looked upon as being arrogant and self-satisfied, greedy and with no limits.
Canadian Prime Minister Jean Chretien, speaking in a CBC interview broadcast on 11 September.
A uniquely disgraceful statement.
Brian Mulroney, former Canadian PM, on Chretiens remarks.
An eye for an eye as an old book says. But it was only one eye for one hundred eyes. There is still much more to do.
Mohammed Massari a Saudi dissident in London, justifying the 11 September attacks.
Figures of the week
- 1.8 million
The number of Israeli homes with a fortified room, as required by law.
- 2 million
The number of Israelis not in close proximity to a bomb shelter.
- 30 million
The amount in dollars that Floridas new upgraded voting system cost. This week saw the system bring more electoral chaos in a Democratic primary.
