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  • US Calls on Israel, Turkey To Both Calm Down Over Latest Feud

    09. September 2011

    The United States has called on both Turkey and Israel to cool down and avoid heated confrontation with regards to their conflict caused by this ship Mavi Marmara. (Photo: somalipeacemaker.blogspot.com)

    The United States has called on two of its top allies to cool down as tensions between Turkey and Israel continue to arose over the past weeks.

    President Barrack Obama said to diffuse their conflict, both Turkey and Israel need to  exercise restraint and avoid any provocations that could lead the situation into a full-blown war. Washington spokesperson Victoria Nuland said the United States wants to see the conflict between the two parties end in peace to avoid bloodshed.

    “We are urging both sides to refrain from rhetoric or actions that could be provocative, that could contribute to tensions,” Nuland said. Nuland revealed both Turkey and Israel are dear friends of US and as top ally they want the two countries to peacefully resolved their conflict.

    Tensions earlier arose between the two countries after Israel refused to apologize  for its deadly raid on a Gaza-bound aid flotilla Mavi Marmara last year that killed Eight Turks and a Turkish-American. Out of anger of Israel’s refusal to say sorry for the tragic incident, Turkey expelled several senior Israeli diplomats, suspended military cooperation with Israel and boosted naval patrols in the eastern Mediterranean.

    The conflict between two nations further escalated after Turkish Prime Minister Recep Tayyip Erdogan said Turkey would send warships to escort future aid boats leaving its territory for Gaza to prevent a repeat of the 2010 incident. Military experts earlier said the two countries need to resolve their problem peacefully since an armed conflict between two nations would have profound consequences for regional security and the Middle East peace process.


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    Written by Romeo Braceros

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    Bank of Israel governor bids for top post on IMF

    11. June 2011

    Bank of Israel governor bids for the top job at IMF.

    Bank of Israel governor, Stanley Fischer filed a candidacy to preside over the International Monetary Fund (IMF) following at the tail of Dominique Strauss-Kahn resignation.

    Fischer expressed his interest for the post by saying, “An extraordinary, unexpected and once-in-a-lifetime opportunity has arisen, to run for the head of the International Monetary Fund, which I decided I wanted to do after many considerations.”

    Fisher has already informed Israel’s Prime Minister Benjamin Netanyahu and Finance Minister Yuval Steinitz about his decision.

    Among others who filed candidacy for top job at IMF are French Finance Minister Christine Lagarde and Bank of Mexico governor Agustin Carstens.

    IMF is traditionally headed by a European while its sister institution, World Bank is headed by an American.

    The age limit for any candidate to be the head of the organization is 65. Being 67, Fischer is at odds even if he has an extensive exposure to IMF serving as deputy IMF chief from 1994 to 2001.

    Israel’s Finance Minister Yuval Steinitz is supportive of his colleague’s decision saying that “the position fits Fischer like a glove”.

    The opportunity to head IMF opened when Dominique Strauss-Khan decided quit upon the wake of a scandal involving him with allegations that he raped a hotel maid in New York City.

    Meanwhile, Fischer has garnered significant support from some of the world’s leading financial newspapers such as Wall Street Journal and Financial Times. Reuters and Euromoney magazine also found some heads up for the Bank of Israel governor on surveys they conducted.

    If credentials would be the basis, Fischer is on the right track being widely recognized as the man behind Israel’s escape on the global economic crisis. Israel’s real estate sector is currently blooming and the country’s unemployment rate is very low at 6 percent.


    Credits to http://media.cnbc.com for the photo



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    Written by Maricris Faderugao

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