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Maybe so. But given the much steeper cuts that other central banks are making, the ECB move still seems modest in the face of the economic erosion under way. The Bank of England cut its key rate by one percentage point to 2% today, while Sweden's central bank cut its key rate by 1.75 percentage points. The U.S. Federal Reserve's main lending rate now stands at 1%, the lowest level in five decades...
...changes would free Pakistan to conduct more effective counterinsurgency operations against the Taliban and al-Qaeda in its northwestern tribal areas. Washington fears that Indo-Pakistan rivalry will make its own task in Afghanistan more difficult. Obama therefore called for promoting a rapprochement between India and Pakistan as a key objective of U.S. foreign policy. But he will find few takers in India for continuing a peace process with a government that does not appear to control significant elements of its own military. India will weary of being exhorted to talk to a government that is at best ineffective...
Iraq's U.S.-appointed administrator, L. Paul Bremer, demurred, though he gave Kurds key political appointments. On my next visit two years later, Arab neighborhoods were being depleted as the Kurds sought to drive out Saddam's supporters. Turkomans and Arabs remained adamant that many of the Kurdish newcomers were not Kirkuk natives but had been sent to try to secure a majority before a new census and hence win a referendum, mandated by the new Iraqi constitution, on the city's future...
...Obama--that such changes would free Pakistan to conduct more effective counterinsurgency operations against the Taliban and al-Qaeda in its northwestern tribal areas. Washington fears that Indo-Pakistani rivalry will make its own task in Afghanistan more difficult. Obama therefore called a rapprochement between India and Pakistan a key objective of U.S. foreign policy. But he will find few takers in India for continuing a peace process with a government that does not appear to control significant elements of its own military. India will weary of being exhorted to talk to a government that is at best ineffective...
...Corey Lowe lit up the Crimson in his team’s 75-59 win at Lavietes Pavilion last night, scoring 20 points on 7-of-13 shooting from the field, including 4-of-6 from three point range. The hosts came into the game knowing he was the key guy for them to stop. And despite the tough attention paid to him, he still went off from all over the court.“I thought Corey’s shot selection tonight was great,” BU coach Dennis Wolff said.That shot selection seemed to include anywhere...