Download The Economist December 03rd, 2011 volume 401 issue 8762 PDF

TitleThe Economist December 03rd, 2011 volume 401 issue 8762
TagsThe Economist
LanguageEnglish
File Size7.3 MB
Total Pages341
Table of Contents
                            The world this week
	Politics this week
	Business this week
	KAL's cartoon
Leaders
	The hopeful continent: Africa rising
	Britain's economy: Into the storm
	Climate change: The sad road from Kyoto to Durban
	Afghanistan and the West: How to end it
	Reform in India: Let Walmart in
Letters
	Letters: On airlines, space telescopes, American politics, Mexico's army, the Sex Pistols, goatee beards
Briefing
	Afghanistan: What comes next
	Pakistan and America: Till deaths us do part
	Africa’s hopeful economies: The sun shines bright
United States
	The Republican nomination: The day of the Newt
	Private equity and the election: Mitts off
	Taxes and disinvestment: Illinoyed
	Visas for dollars: Give me your Gucci-clad masses
	Broadband in rural America: Sweet land of subsidy
	Congressional redistricting: Turf wars
	Marijuana in California and Colorado: Highs and laws
	Lexington: Left, right and centre
The Americas
	Protecting Brazil’s forests: Fiddling while the Amazon burns
	Governance in the Amazon: Pará-statals
	Crime and punishment in Canada: Bang ’em up
	Social progress in Latin America: Good tidings from the south
Asia
	Myanmar and America: A new Great Game?
	India’s Maoists: Red retreat
	Campaigning in Taiwan: Of pigs and persimmons
	Sri Lanka’s former child soldiers: Not reunited
	China’s economy: Poor by definition
	Banyan: Tribal Japan
Middle East and Africa
	Egypt’s election: Islamists of every stripe to the fore
	Morocco’s election: Yet another Islamist victory
	Yemen’s turmoil: Has he really gone?
	Sanctions against Syria: As effective as bullets, maybe
	The Gulf: Still rich but no longer so calm
	Nationalisation in South Africa: A debate that will persist
	Corruption in Nigeria: Dragon-slayers wanted
Europe
	France and the euro crisis: The ratings game
	Sweden and the euro: Out and happy
	Italy’s new government: Mountains still to climb
	Georgia’s political future: Misha challenged
	The Balkans and Europe: Hard pounding
	Belgium’s new government: An end to waffle?
	Charlemagne: The horsemen approach
Britain
	The politics of austerity: A battalion of troubles
	Capital spending: Weapons of mass construction
	Affluence in austerity: Rich pickings
	Scots and alcohol: The battle of the bottle
	Espionage: Red faces
	Public libraries: Checked out
	Bagehot: Impossible, indispensable France
International
	Climate-change talks: Wilted greenery
	Arms control: Dead munitions
	Arms control: Correction: Omid Djalili
Technology Quarterly
	Monitor: More than just digital quilting
	Monitor: A classic invention
	Monitor: Return of the human computers
	Monitor: Indolent or aggressive?
	Monitor: Spotting the rot
	Monitor: Sticky fingers
	Monitor: And the winners were…
	Difference engine: The devil in the details
	Seasteading: Cities on the ocean
	Breaching the body's defences: Getting past the guards
	Inside story: Resistance is futile
	Flywheels: Reinventing the wheel
	Brain scan: Seer of the mirror world
Business
	Indian retail: The supermarket’s last frontier
	Drugmakers: Cliffhanger
	American Airlines: Excess baggage
	Ted Forstmann: Large and little
	Facebook and privacy: Sorry, friends
	Telecoms networks: Two’s company
	Business education: Field of dreams
	Schumpeter: Khaki capitalism
Finance and economics
	Bank funding: The dash for cash
	Hedge funds: Dazed and confused
	American banks: Contagion? What contagion?
	Buttonwood: For whom the toll sells
	A financial regulator under fire: Unsettling Wall Street
	American municipal finances: The sewers of Jefferson County
	Insurance in China: Growing pains
	Economics focus: The big push back
Science and technology
	DIY biofuels: The fat of the land
	Palaeontology: The hare and the tortoise
	Foie-gras production: How much is too much?
	Invasive species: Boom and bust
	Invasive species: Apology
Books and arts
	The collapse of the Soviet Union: Russia’s imperial agony
	New film: Method in the madness
	Richard Holbrooke: Bullish and bullying
	A coup fiasco in west Africa: A bad Mann
	The English gentry: Happy landings
	Richard Branson: Ricky’s schemes
Obituary
	Emeka Ojukwu
Economic and financial indicators
	Output, prices and jobs
	Trade, exchange rates, budget balances and interest rates
	The Economist commodity-price index
	GDP forecasts
	Markets
                        
Document Text Contents
Page 2

The world this week
Leaders
Letters
Briefing
United States
The Americas
Asia
Middle East and Africa
Europe
Britain
International
Technology Quarterly
Business
Finance and economics
Science and technology
Books and arts
Obituary
Economic and financial indicators

Page 170

zone and pits the same two leaders against each other. France sees a strong
Europe as a lever of influence. Disliking the enlarged EU of 27 countries (in
which its clout is diluted), France wants to use the euro crisis to deepen
integration around a core of countries that use the euro, under the political
control of a handful of big national leaders. To comfort French voters, Mr
Sarkozy has started talking up euro-zone integration as a shield against
globalisation and bullying by financial markets.

Today’s unprecedentedly Eurosceptic Conservative Party sees a strong Europe
mostly as a threat to Britain’s global leverage. Mr Cameron says he supports
deeper integration within the euro zone, as long as Britain does not have to pay,
loses no sovereignty and yet is not marginalised. That is not enough for Tory
MPs. They want the prime minister to use changes in the EU’s architecture to
secure concessions, such as opt-outs from European employment law or EU
rules that harm the City of London.

French sources call it “totally unacceptable” to allow British banks to set up in
deregulated competition just across the Channel. Britain wants rights of
oversight over the euro zone, it is said in Paris: well, the euro zone needs
oversight over the City of London. If Britain seeks to “profit” from the crisis,
then rule changes can be agreed by countries that use the euro, excluding Britain.

Mutual suspicions seethe. The French were incensed when the chancellor of the
exchequer, George Osborne, said on November 14th that financial markets were
“asking questions about France”, alongside Greece and Spain. British sources
say Mr Osborne was just justifying austerity plans and accuse the French of
“spiteful” plans to regulate the City of London.

A change of French president in elections next May would bring no comfort.
Pierre Moscovici, the Socialist Party’s campaign chief, says the current crisis
must be solved by Europe doing “more, not less” to protect employment rights.
He also challenges British calls for an EU budget frozen in real terms.

The same force explains all aspects of Franco-British relations: a yearning by
two established powers to preserve national greatness. In defence, this is
working wonders. In the EU, a dangerous clash looms. Doomed by character,
proximity and shared ambition, neither country has much room for manoeuvre at

Page 171

http://www.economist.com/blogs/bagehot

Page 340

Difference engine: The devil in the details
Seasteading: Cities on the ocean
Breaching the body's defences: Getting past the guards
Inside story: Resistance is futile
Flywheels: Reinventing the wheel
Brain scan: Seer of the mirror world

Business
Indian retail: The supermarket’s last frontier
Drugmakers: Cliffhanger
American Airlines: Excess baggage
Ted Forstmann: Large and little
Facebook and privacy: Sorry, friends
Telecoms networks: Two’s company
Business education: Field of dreams
Schumpeter: Khaki capitalism

Finance and economics
Bank funding: The dash for cash
Hedge funds: Dazed and confused
American banks: Contagion? What contagion?
Buttonwood: For whom the toll sells
A financial regulator under fire: Unsettling Wall Street
American municipal finances: The sewers of Jefferson County
Insurance in China: Growing pains
Economics focus: The big push back

Science and technology
DIY biofuels: The fat of the land
Palaeontology: The hare and the tortoise
Foie-gras production: How much is too much?
Invasive species: Boom and bust
Invasive species: Apology

Books and arts
The collapse of the Soviet Union: Russia’s imperial agony
New film: Method in the madness
Richard Holbrooke: Bullish and bullying
A coup fiasco in west Africa: A bad Mann
The English gentry: Happy landings
Richard Branson: Ricky’s schemes

Obituary
Emeka Ojukwu

Page 341

Economic and financial indicators
Output, prices and jobs
Trade, exchange rates, budget balances and interest rates
The Economist commodity-price index
GDP forecasts
Markets

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