Accommodations
Fine Dining
 
Shopping
Motors
Real Estate
Fashion
Jewels & Watches
Nightlife

 

BRUSSELS - BRUXELLES OVERVIEW

Brussels Overview

 

   

Brussels Europe Main - Overview

 
 
Bookmark and Share
 
 
 
 
 

 

 

Welcome to Brussels!

Brussels is a city you simply don't want to miss out on. As the headquarters to the EU (European Union) and NATO it is often referred to as The Capital of Europe. It is an international metropolis – a mosaic of languages, cultures, and traditions. Aside from the spectacular and unique architectural styles of the city, Brussels also hosts over 80 museums, numerous tourist attractions, a vibrant nightlife, and more restaurants than you could count.

 

The starting point for any visit to Brussels is the Grand Place which was built as a merchant’s market in the 13th century. It serves as the center of the city and hosts a variety of festivals including the Ommegang pageant held every July .

 

Shopping in the distinctive fashion boutiques, lingering over a delicious lunch in a bistro or a top restaurant, people watching from a street cafe, or picking up an original antique on the Sablon - Brussels is a city you can call your own.

 

For more information on what to see please check out Brussels Highlights.

 

 

 

Historic & Cultural Overview of Brussels.


The popular image of Brussels is that of a capital of European bureaucracy, with the city centre densely packed with EU office buildings and thousands of uniformly-dressed Eurocrats pacing the busy streets.
The truth is, there's much more to the city than the steady rhythm of business life, for Brussels is a rare gem of cultural and social uniqueness.

Many inhabitants of Brussels complain that the presence of the numerous EU institutions and NATO headquarters overshadows the true spirit of the Belgian capital, making it look stiff and formal. One stroll down a street in central Brussels is enough to make one believe that the city is anything but boring. It's estimated that over 20 percent of Brussels' population are foreigners, mostly working for the international institutions and companies. Even the natives of Brussels are divided into speakers of French and Dutch, and all of the places and street names in the city are given in those two languages. A colourful, multicultural crowd fills the streets day and night, giving the city a unique, cosmopolitan feeling.

The earliest records of a settlement in the area come from the late 7th Century, when a chapel was established on a river island. The official date of establishment of the town is 979, when relics of St. Gudula from Moorsel were transferred to the chapel. Permanent fortifications around the settlement were constructed by Charles, the banished son of French King Louis IV. Brussels developed fast thanks to its strategic location on the banks of the Senne, and on a major trade route running from Bruges and Ghent to Cologne. By the Middle Ages, it was no less a cosmopolitan city than it is today.

Throughout its history, Brussels has witnessed a number of important events. The magnificent Palace Coudenberg, the traditional residence of the Belgian rulers, was an important stopover for diplomats from all over the continent. In 1555, the palace saw the abdication of the Holy Roman Emperor Charles V. In 1731, it was destroyed in a disastrous fire and never rebuilt. An archaeological site is all that remains of it. A great part of Brussels' beautiful Medieval architecture was also destroyed in a French attack in 1695, during which the houses around the Grand Place were set on fire.

Previously a part of the Netherlands, France and the Habsburg Empire, Brussels became capital of Belgium only after the Revolution of 1831.
Because of the city's potential and continuous prosperity, it was always a desirable location for major European powers. The city survived World War II largely intact.

After the end of the Second World War, moves towards European integration were seen by many as an escape from the extreme forms of nationalism which had devastated the continent. One such attempt to unite Europeans was the European Coal and Steel Community  which, while having the modest aim of centralised control of the previously national coal and steel industries of its member states, was declared to be "a first step in the federation of Europe". The originators and supporters of the Community include Jean Monnet, Robert Schuman, Paul Henri Spaak and Alcide de Gasperi. The founding members of the Community were Belgium, France, Italy, Luxembourg, the Netherlands and West germany.


Belgium actively participated in the creation of the European Union (then the European Economic Community), and as a result its capital was designated as the administrative core of the organisation.

Resource: Europe Cities - Belgium, Brussels

 
 
 
 
 
 
 
Brussels Sightseeing

 

Brussels celebrates its rich and varied cultural, social and economic history in the more than 100 museums and galleries scattered around the city.


The Royal Museum of Fine Arts (Musées Royaux des Beaux Arts) displays a magnificent collection of works by Dutch and Flemish masters, including Memling, Bosch, Cranach, Brueghel, Rubens, Rembrandt, Van Dyck and Frans Hal; paintings by van Gogh, Chagall, Miro, Dali, Matisse can also be found. The Horta Museum is devoted to the life and works of noted Belgian architect Victor Horta, who introduced the Art Nouveau style in the city.

A city as diverse as Brussels has such museums as the Royal Museum for Central Africa (Musée Royaux d'Afrique Centrale, RMCA) and the comics shrine Musée BD sit almost side by side. The former holds a unique collection of African ethnographic artefacts. Experts claim it's the only one of its kind in the world. The latter, located in Europe's earliest shopping mall, Jugendstil Palais, holds a permanent exposition presenting the beginnings and development of comics.

Prominent Brussels landmarks include cultural icons recognisable all over the world. The Grand-Place, also known as the Grote Markt, is a true spectacle at night, when carefully arranged lights illuminate the façades of beautiful old buildings. The legendary figure of the peeing boy, Manneken Pis, is located very nearby. Inhabitants of Brussels believe that the small bronze statue symbolises the 'irreverent spirit' of their city. Manneken Pis has a collection of outfits for all occasion, each with a small hole placed strategically in order to let the water flow.

The Atomium, built for the Expo '58 (then known as the World’s Fair), is a 102-metre-tall construction representing a unit cell of an iron crystal, enlarged 165 billion times. Nine giant spheres are connected with enormous tubes through which passenger lifts move. The top-most sphere provides an absolutely spectacular view of the Belgian capital, making the Atomium the single most popular attraction in the city.

The Belgian capital offers plenty of entertainment options with which to fill your day. The lovely Parc du Cinquantenaire (Jubelpark), in eastern Brussels, is a quiet and peaceful place, a true refuge from the fast-paced centre. A viewing terrace above the Arc de Triomphe (Triomfboog) offers a charming alternative to the view of the city available from the Atomium. A fascinating day out might be an excursion to the Waterloo Battlefield, located around 12 kilometres away from the city centre. Napoleon's final battle against Wellington, which took place there on June 18, 1815, forever changed the face of Europe. Today, the site holds a memorial in the form of a mound upon which stands a statue of lion looking towards France.

Whatever you decide to fill your days in Brussels with, remember to embark upon a delicious tour of the city's famous restaurants, offering the best of what refined Belgian cuisine has to offer. Specialities such as rabbit stewed in beer served with some of the famous kriek will make your stay a memorable experience. While strolling around the city, don't forget to have one of the Gauffre Liègoise (Luikse Wafel), the famous Belgian waffles with caramelised sugar, a true delight on both a sunny afternoon and a chilly evening.

Resource: Europe Cities - Belgium, Brussels

 
 
 
 
 
 
 
 
 
Brussels Highlights
 
 
 

Grand Place

The Grand Place, with its ornate baroque and gothic guild houses, is listed as a UNESCO World Heritage site, and one of the most beautiful squares in Europe. Built as a merchants market in the 13th century, it serves as the city center and a great place to enjoy Belgian hospitality at one of the many terrace cafes. It is also a venue for many concerts & events throughout the year and during the warmer months has a vibrant, daily flower market.

     
   
 

Town Hall (Hotel de Ville)

The first building you notice upon entering the Grand Place is the striking gothic town hall, which dates back to the 13th century. Its beautiful facade features the famous needle-like crooked spire which is 315 feet in height and is topped by the archangel St. Michael. Tours are available of the interior, which contains 15th century tapestries and works of art.

     
   
 

Manneken Pis

This famous statue of a little boy peeing in a fountain is a perfect representative of the irreverent Belgian humor. The unique Brussels icon has been amusing visitors on the corner of Rue de L’Etuve & Stroofstraat since 1619. Over time it has become a tradition for visiting heads of state to donate miniature versions of their national costume for the little naked boy. The wardrobe of Mannekin Pis can be seen at the Brussels museum and includes over 760 outfits – even an authentic Elvis jumpsuit.

     
   
 

Galeries St Hubert

This gorgeous, glass roofed arcade in the center of town, lined with cafes, theaters and luxury stores has the distinction of being the first shopping arcade in Europe. Built in 1847 and recently renovated, the Royal Galleries (Galerie de la Reine, du Roi and du Prince) are one of the most astonishing places to visit in Brussels.

     
   
 

Mont des Arts

Situated half way between the broad avenues of Brussels’ Park and the pretty gardens of Petit Sablon and Egmont, this area marks the transition between the ‘upper’ and ‘lower’ town. It boasts a profusion of museums, theaters and historical monuments, attracting locals and visitors alike to Brussels.

     
   
 

European Union (EU)

On any given day there are over 20,000 people working in the offices of the EU. The infrastructure of the EU is divided into 3 big institutions: the European council, the European commission and the European parliament.

     
   
 

Ommegang festival (Grand Place)

Take a seat on the tiered stands or lean on the low barriers and find yourself transported to 1549. Every year, the lavish Ommegang procession commemorates the tribute paid to Emperor Charles V and his VIP guests. Richly-colored costumes, horses, embroidered banners, flag throwing and stilt jousting are always on the menu for this annual event.

     
   
 

MIM (The Museum of Musical Instruments)

Architectural styles of Neo-Classic and Art Nouveau. Housed in the museum is a collection of more than 7000 instruments of varying kinds and origins. On the top floor, the indoor & outdoor MIM Restaurant provides visitors with a magnificent 360° view of Brussels.

     
   
 

The Cantillon Brewery

This brewery, which uses the same brewing process as it did when it was founded in 1900, has been converted into a working museum providing visitors with tours and tastings throughout the year. In an hour and a half the Van Roy-Cantillon family invites you to discover all the trade secrets of making lambic beer, faro, kreik and the archetypal Brussels beer known as geuze. Geuze is a blend of lambic beers and has the dryness and sparkle of a good champagne.

     
   
 

Cathedral of Saints Michel and Gudule

This magnificent cathedral, tactfully dedicated to the male and female patron saints of Brussels, is located near Central Station. It was completed by the end of the 15th century in the Brabant Gothic style, but was damaged by the French shelling of 1695. The white stone façade is from the year 1250 and the interior is splendidly proportioned and stuffed with treasures.

     
   
 

The Belgian Center for Comic Strip Art (Centre Belge de la Bande Dessinee)

Housed in an art nouveau masterpiece designed by Victor Horta, this museum pays homage to a particular Belgian passion, cartooning. Tintin and the Smurfs are the most famous Belgian comic strip characters but the museum also displays artwork from over 670 cartoonists. Other displays detail the stages of putting together a comic strip, from examples of initial ideas and pencil sketches through to final publication. Arranged over three levels, the museum also has a library and an art nouveau brewery.

     
   
 

The Dinosaur gallery at the Royal belgian Institute of Natural Sciences

Explore the largest dinosaur museum in Europe on permanent display at the Museum of Natural Sciences starting on October 27. This is a great exhibit for the whole family, with many new dinosaur skeletons to discover and learn about as well as hands-on activities for children.

     
   
 

The Royal Palace (Palais Royal)

The official home of the Belgian king, you will always know if he is in the country when you see the Belgian flag flying on top of the building. The building is a highlight of Neo-Classical architecture and overlooks Brussels Park. The Royal Palace is open to the public during the summer months.

     
   
 

Royal Greenhouses

Built in 1874 by King Leopold II, it contains one of the largest & finest private botanical collections in the world. The complex itself consists of 16 huge interconnected greenhouses, a dining hall, theater and reception areas. Every year, usually from the last week of April through the 1st week of May, the king invites the public to visit the greenhouses & the exuberant display of flowers.

     
   
 


Place du Grand Sablon

This picturesque square is situated on the slope that divides Brussels between the upper and lower halves of the city. Decked out with chic boutiques, al fresco cafes, fashionable restaurants, and trendy bars, the Grand Sablon is most famous for its lively open-air antiques market which attracts antiques dealers from all over the world. Open every weekend (Sat 9-6, Sun 9-2).

     
   
 

Place du Petit Sablon

Just above the Grand Sablon is the jewel of a square - Petit Sablon. Originally a horse market, it was converted in 1890 into an elegant & charming flower garden with lavish fountains, surrounded by wrought-iron fences decorated with stone statuettes. Each figure represents a medieval trade or craft that brought prosperity to Brussels. Today it is a favorite area to relax while taking in the pretty view.

     
   
 

Museum Horta

The former home of Art Nouveau’s best-known architect, Victor Horta, is now the Horta Museum - a showcase of stained glass and subway tile, pale wood and wrought iron whose every corner seems magically bathed in golden sunlight.

     
   
 

Comic Strip Route

There are currently 38 large comic strip images decorating the sides of buildings around Brussels city center. This outdoor exhibition is known as the comic strip route and is organized by the Belgian Center for Comic Strip Art and the city of Brussels. Begun in 1991 as a tribute to Belgium’s talent for comic strip art, this street art project continues to grow.

     
   
 

Palais de la Nation

Home of the Belgian Parliament since the country’s independence in 1830, this magnificent building was constructed in the late 18th century by the Neo-Classical architect Guimard, who also designed the expansive stone facade and many of the surrounding state buildings.

     
   
 

Cinquantenaire Arch

Erected to mark the 50th anniversary of Belgium’s independence from Holland, the monument is 144 ft high at the head of Ave. de Tervuren and is topped by a bronze chariot being ridden by the female personification of a triumphant Belgium. Adjacent are the Royal Museum of Art & History, Royal Museum of Army & Military History and the 90-acre Jubilee Park forming a lush backdrop for all three.

     
   
 

Mini Europe

This kitschy village houses over 300 doll-sized versions of the most famous European monuments including the Eiffel Tower and Acropolis. This popular family destination is located in Bruparck, which is in the Heysel area of northern Brussels. Also found in Bruparck are an assortment of themed restaurants, and IMEX movie theater (movies in English) and Oceade, a tropically heated water park.

     
   
 

Atomium

Built for the 1958 World Fair, the Atomium represents a molecule’s nine atoms – magnified 165 billion times. Something of a symbol of the city, it provides a panoramic view of Brussels and its surroundings. The 9 spheres that make up the “atom” are linked by escalators. The Atomium hosts a museum and is also a venue for special events.

In Summer : take part in a unique activity: a Death-Ride from the top sphere of the Atomium! A breathtaking descent of more than 100 meters!

     
   
 

European Parliament

For individual visitors, the European Parliament offers audio-guided visits and, during part-sessions, the chance to attend a parliamentary sitting. Visitors must be at least 14 years old. Information visits are organized for groups composed of a minimum of 20 people and a maximum of 45.

     
   
 

Rue de Bouchers

Known more for the atmospheric charm than the cuisine, Rue de Boucher is a walking thoroughfare abounding with 17th century stepped gables, decorated doorways, cafes and restaurants with lavish pavement displays of seafood, piled high on mounds of ice. It is not recommended to eat there and is often called a "tourist trap" in regards to menu prices and quality of food.

     
   
 

Christmas Markets

During the month of December Brussels’ Grand Place is magically transformed into a winter wonderland of holiday delights with an enormous Christmas tree and nightly sound & light shows. Nearby on Place Sainte Catherine resides a European Christmas Market village made up of wooden cottages filled with Christmas goodies, European food specialties and handicrafts.

     
   
 Resource: Visit Belgium - Brussels Highlights  
 
  Google Maps Belgium
Useful Info at the Official Site of Belgium Tourist Office - Flanders  

 

 

 
 
 
 

 

Brussels Great Infos & Fresh News!

EU finance regulation shake-up welcomed

09/03/10 11:08 am

European Union governments gave their approval to an overhaul of the way banks and markets in the region are supervised. However, they warned that new pan-European Union watchdogs would need to exercise their powers cautiously

De Gucht 'regrets' remarks about Jews

09/03/10 8:58 am

European commissioner accused of 'outrageous anti-Semitism' by Jewish group.

ISB Lifelong Learning Programme

09/03/10 8:54 am

New schedule available now with a wide range of courses and activities for adults and children.

Re: Hiring a Scooter - Cars, Bikes & Driving

09/03/10 8:27 am

"I would like to hire ascooter just for the coming weekend. Does anyone know a company located in..." - Posted by lilly. 1 reply, last discussed at 17:27

Cat Adoption - Pets & Animals

09/03/10 8:23 am

"We are interested in adopting a kitten. Does anyone now of a feline charity or refuge we can..." - Posted by saffy. New discussion topic, posted at 17:23

Jihad At The Cordoba Cathedral: Halfway To A Whole Mosque?

09/03/10 6:03 am

As noted in Andrew Bostom's essay debunking the just-can't-shake-it myth of Islamic "tolerance" in Muslim Spain, by the middle of the 8th century, the cathedral in Cordoba dedicated to Saint Vincent had been "converted" to a Muslim mosque. However, as 19th-century scholar of Muslim Spain (and Islamophile) Reinhart Dozy writes, this was "clearly an act of spoilation as well as an infraction of the treaty" between Cordoba Christians and the invading Arab Muslims.

All the churches in that city [Cordoba] had been destroyed except the cathedral, dedicated to Saint Vincent, but the possession of this fane [church or temple] had been guaranteed by treaty. For several years the treaty was observed; but when the population of Cordova was increased by the arrival of Syrian Arabs [i.e., Muslims], the mosques did not provide sufficient accommodation for the newcomers, and the Syrians considered it would be well for them to adopt the plan which had been carried out at Damascus, Emesa [Homs], and other towns in their own country, of appropriating half of the cathedral and using it as a mosque. The [Muslim] Government having approved of the scheme, the Christians were compelled to hand over half of the edifice. This was clearly an act of spoilation, as well as an infraction of the treaty. Some years later, Abd-er Rahman I requested the Christians to sell him the other half. This they firmly refused to do, pointing out that if they did so they would not possess a single place of worship. Abd-er Rahman, however, insisted, and a bargain was struck by which the Christians ceded their cathedral.

And so the single remaining church in the city became the Great Mosque of Cordoba. This mosque became a cathedral again in 1236 when King Ferdinand III of Castile recaptured the city from Muslim Moors.

Note, however, in these following thumbnails from recent news accounts of Muslim attempts to take the cathedral back for Islam (I'm not kidding), the fudging or complete omission of the cathedral's Christian origins preceding the establishment of the Great Mosque.

From the Times of London, April 3, 2010, "Muslims arrested for trying to pray in Cordoba's former Great Mosque":

The Great Mosque of Córdoba was converted into a Christian church in 1236 after King Ferdinand III of Castile recaptured the city from the Moors. The building later became the modern-day Cathedral of Our Lady of the Assumption.

Muslim organisations have long campaigned for the right to pray inside the building, which was once one of the biggest mosques in the world.

However, Demetrio Fernández González, the recently appointed Bishop of Córdoba, reinforced a ban on Muslims praying in any part of the 24,000sq m (260,000sq ft) building, saying that canon law did not permit it.

A statement from the bishop’s office said: “The shared use of the cathedral by Catholics and Muslims would not contribute to the peaceful coexistence of the two beliefs.”

The Roman Catholic Church cited archaeological reports that said before the Mosque was built in the 8th century remains of an earlier Christian temple had stood on the same spot.


The not-so-faint implication is that the source of these "archaeological reports" is somehow sectarianly non-objective, while the reports themselves don't merit mention in the recitation of the cathedral's history. And since when are "archaeological reports" dismissed so lightly? When they fail to match the PC narrative.

Oh, and by the way, the Times also reports (paragraph 9):

After being asked to stop praying,  [Catholic authorities] added, “they [two of the praying Muslims] replied by attacking security guards, two of whom suffered serious injuries.”


From CNN, August 17, 2010, "Muslims in Spain campaign to worship alongside Christians":

Muslims in Spain are campaigning to be allowed to worship alongside Christians in Cordoba Cathedral -- formerly the Great Mosque of Cordoba.


And what else? Nothing, according to CNN.

Today, at the original Cordoba mosque in Spain, there is no call to prayer, only the ringing of church bells. That's because the former mosque is now a working Catholic cathedral, performing a daily mass.

It's been a Cathedral since Spain's Christian monarchy conquered Cordoba in the 13th century and more than a million visitors walk through its doors every year.


Look, Ma -- no pre-Islamic history! This obliteration of the past is a traditional hallmark of Islamic conquest.

Meanwhile, note the Islamic good-cop, bad-cop routine, something I've been tracking at least since the foiled British Airplane  Plot of 2006 when it struck me that in the wake the jihadists' attempt to bring down passenger airliners (bad cop), British Muslim leaders followed up by lobbying the government to sanction more sharia in Britain to avoid future outbreaks of such "extremism" (good cop). Notice both sets of actors, the violent jihadists (bad cop) and the peaceful lobbyists (good cop), are after the same goal: extending sharia.

Anyway, to recap the situation in Cordoba: In April, violent "worshippers" (bad cop) seriously injured (knifed) security guards. In August the "peaceful" lobbying effort (good cop) to convert the Catholic cathedral into a half a mosque continues apace. They're both trying to achieve the same goal

And with CNN's implicit favor:

Depictions of Jesus' crucifixion hang underneath the distinctive red-and-white arches of what was once the Muslim prayer hall. Cordoba's dazzling "mihrab" -- the sacred alcove from where Muslim prayer is lead -- still stands as a separate part of the site and is one of the main attractions for tourists.

In fact, the site remains significant for Muslims as a symbol of Islam's golden age of learning and religious tolerance.


Ah, back to that fraud.

The Mosque of Cordoba was once famed for allowing both Christians and Muslims to pray together under the same roof.


Yes, as, Dozy tells us, as an act of "spoilation" and a broken treaty.

Now, some Muslims are trying to repeat that history. Mansur Escudero, a Spanish convert to Islam, is leading the movement that is pushing for the right of Muslims to pray at the Cordoba Cathedral.

"I don't think it's important for Muslims. I think it's important for humankind," Escudero says. "We think this is a beautiful paradigm of tolerance, knowledge, culture. People of different religions living together."


Uh-huh. Sounds beautiful so long as you block out the clanging echoes from the middle of the 8th century when, as Dozy tells us, Muslims broke their treaty with the Christians, "appropriating half of the cathedral and using it as a mosque."

Jihad At The Cordoba Cathedral: Halfway To A Whole Mosque?

09/03/10 6:03 am

As noted in Andrew Bostom's essay debunking the just-can't-shake-it myth of Islamic "tolerance" in Muslim Spain, by the middle of the 8th century, the cathedral in Cordoba dedicated to Saint Vincent had been "converted" to a Muslim mosque. However, as 19th-century scholar of Muslim Spain (and Islamophile) Reinhart Dozy writes, this was "clearly an act of spoilation as well as an infraction of the treaty" between Cordoba Christians and the invading Arab Muslims.

All the churches in that city [Cordoba] had been destroyed except the cathedral, dedicated to Saint Vincent, but the possession of this fane [church or temple] had been guaranteed by treaty. For several years the treaty was observed; but when the population of Cordova was increased by the arrival of Syrian Arabs [i.e., Muslims], the mosques did not provide sufficient accommodation for the newcomers, and the Syrians considered it would be well for them to adopt the plan which had been carried out at Damascus, Emesa [Homs], and other towns in their own country, of appropriating half of the cathedral and using it as a mosque. The [Muslim] Government having approved of the scheme, the Christians were compelled to hand over half of the edifice. This was clearly an act of spoilation, as well as an infraction of the treaty. Some years later, Abd-er Rahman I requested the Christians to sell him the other half. This they firmly refused to do, pointing out that if they did so they would not possess a single place of worship. Abd-er Rahman, however, insisted, and a bargain was struck by which the Christians ceded their cathedral.

And so the single remaining church in the city became the Great Mosque of Cordoba. This mosque became a cathedral again in 1236 when King Ferdinand III of Castile recaptured the city from Muslim Moors.

Note, however, in these following thumbnails from recent news accounts of Muslim attempts to take the cathedral back for Islam (I'm not kidding), the fudging or complete omission of the cathedral's Christian origins preceding the establishment of the Great Mosque.

From the Times of London, April 3, 2010, "Muslims arrested for trying to pray in Cordoba's former Great Mosque":

The Great Mosque of Córdoba was converted into a Christian church in 1236 after King Ferdinand III of Castile recaptured the city from the Moors. The building later became the modern-day Cathedral of Our Lady of the Assumption.

Muslim organisations have long campaigned for the right to pray inside the building, which was once one of the biggest mosques in the world.

However, Demetrio Fernández González, the recently appointed Bishop of Córdoba, reinforced a ban on Muslims praying in any part of the 24,000sq m (260,000sq ft) building, saying that canon law did not permit it.

A statement from the bishop’s office said: “The shared use of the cathedral by Catholics and Muslims would not contribute to the peaceful coexistence of the two beliefs.”

The Roman Catholic Church cited archaeological reports that said before the Mosque was built in the 8th century remains of an earlier Christian temple had stood on the same spot.


The not-so-faint implication is that the source of these "archaeological reports" is somehow sectarianly non-objective, while the reports themselves don't merit mention in the recitation of the cathedral's history. And since when are "archaeological reports" dismissed so lightly? When they fail to match the PC narrative.

Oh, and by the way, the Times also reports (paragraph 9):

After being asked to stop praying,  [Catholic authorities] added, “they [two of the praying Muslims] replied by attacking security guards, two of whom suffered serious injuries.”


From CNN, August 17, 2010, "Muslims in Spain campaign to worship alongside Christians":

Muslims in Spain are campaigning to be allowed to worship alongside Christians in Cordoba Cathedral -- formerly the Great Mosque of Cordoba.


And what else? Nothing, according to CNN.

Today, at the original Cordoba mosque in Spain, there is no call to prayer, only the ringing of church bells. That's because the former mosque is now a working Catholic cathedral, performing a daily mass.

It's been a Cathedral since Spain's Christian monarchy conquered Cordoba in the 13th century and more than a million visitors walk through its doors every year.


Look, Ma -- no pre-Islamic history! This obliteration of the past is a traditional hallmark of Islamic conquest.

Meanwhile, note the Islamic good-cop, bad-cop routine, something I've been tracking at least since the foiled British Airplane  Plot of 2006 when it struck me that in the wake the jihadists' attempt to bring down passenger airliners (bad cop), British Muslim leaders followed up by lobbying the government to sanction more sharia in Britain to avoid future outbreaks of such "extremism" (good cop). Notice both sets of actors, the violent jihadists (bad cop) and the peaceful lobbyists (good cop), are after the same goal: extending sharia.

Anyway, to recap the situation in Cordoba: In April, violent "worshippers" (bad cop) seriously injured (knifed) security guards. In August the "peaceful" lobbying effort (good cop) to convert the Catholic cathedral into a half a mosque continues apace. They're both trying to achieve the same goal

And with CNN's implicit favor:

Depictions of Jesus' crucifixion hang underneath the distinctive red-and-white arches of what was once the Muslim prayer hall. Cordoba's dazzling "mihrab" -- the sacred alcove from where Muslim prayer is lead -- still stands as a separate part of the site and is one of the main attractions for tourists.

In fact, the site remains significant for Muslims as a symbol of Islam's golden age of learning and religious tolerance.


Ah, back to that fraud.

The Mosque of Cordoba was once famed for allowing both Christians and Muslims to pray together under the same roof.


Yes, as, Dozy tells us, as an act of "spoilation" and a broken treaty.

Now, some Muslims are trying to repeat that history. Mansur Escudero, a Spanish convert to Islam, is leading the movement that is pushing for the right of Muslims to pray at the Cordoba Cathedral.

"I don't think it's important for Muslims. I think it's important for humankind," Escudero says. "We think this is a beautiful paradigm of tolerance, knowledge, culture. People of different religions living together."


Uh-huh. Sounds beautiful so long as you block out the clanging echoes from the middle of the 8th century when, as Dozy tells us, Muslims broke their treaty with the Christians, "appropriating half of the cathedral and using it as a mosque."

Does intangible capital affect economic growth?

09/03/10 5:24 am

Welcome BBQ

09/03/10 3:07 am

Our Family Association welcomes all new and returning families.

The Future of the Eurozone and Gold

09/03/10 2:40 am

August 2010

09/03/10 2:31 am

Continuing education. New training building designer

09/03/10 2:00 am

The French-language training for building designer at the Institut Diderot lasts one year. (Lire article)

Work. Public Education searches part-time administrative assistant (m/f) for the Academy

09/03/10 1:58 am

The Department of Public Education of the City of Brussels is looking for a part-time administrative assistant (m/f) for the Dutch-speaking Academy of Music, Word and Dance. The job offer is only available in Dutch. (Lire article)

Work. Public Education searches assistant educators (m/f)

09/03/10 1:20 am

The Department of Public Education of the City of Brussels is looking for assistant educators (m/f) for the Dutch-speaking primary schools. The job offer is only available in Dutch. (Lire article)

Traffic congestion by football match Belgium - Germany

09/02/10 11:54 pm

On Friday 3 September 2010, the football match Belgium - Germany will be played in the King Baudouin Stadium. The kickoff is at 8:45 pm. The match can lead to traffic problems around the stadium. (Lire article)

Deal paves way for pan-EU financial watchdogs

09/02/10 2:24 pm

The European Union reached a long-awaited agreement on reform of financial supervision, paving the way for the establishment of three pan-EU watchdogs to oversee controls on banks and insurers in the region from next year

Romania finance minister dropped in reshuffle

09/02/10 2:19 pm

Sebastian Vladescu was forced to step down as the prime minister shook up his cabinet in response to huge political pressure over the government's unpopular austerity measures

Deal struck on financial reform

09/02/10 1:43 pm

Agreement with European Parliament paves the way for the creation of four European supervisory bodies.

Brussels: La Grande Place - Brussels

09/02/10 12:03 pm

Panoramic photo by Valentin Matache.
Click the image to open the interactive version.

EU posts second-quarter growth

09/02/10 10:45 am

Growth in the EU and in the eurozone was 1% in the April-June period.

Court backs Deutsche Post in state aid case

09/02/10 8:27 am

Commission fails in bid to get postal firm to repay €572 million in state aid to the German government.

Re: Boat Tours - Sport & Leisure

09/02/10 8:09 am

"I have heard it is possible to visit the city on a canal boat. Can anyone ill me in?" - Posted by saffy. 4 replies, last discussed yesterday at 17:09

Re: Do anything new (locally) in the holidays - Sport & Leisure

09/02/10 8:04 am

"Since this Forum is a bit quiet at the moment - did you discover any interesting bits of Belgium..." - Posted by Brusselsrower. 1 reply, last discussed yesterday at 17:04

Two Ghanaian airlines blacklisted

09/02/10 7:36 am

European Commission bans one cargo carrier from the EU, and restricts the operations of another.

Contest. Gain 2 tickets for 'Cock'

09/02/10 7:19 am

The Théâtre de Poche offers 5x2 tickets for the play 'Cock' on Tuesday 28 September 2010 at 8:30 pm. Play in French. (Lire article)

ECB to extend support measures for banks

09/02/10 6:46 am

Interest rates to be kept on hold for 16th month in a row.

Atlas Pacheco

09/02/10 5:44 am

Work. Education Department searches medical technical assistant (m/f)

09/02/10 4:13 am

The Department of Public Education of the City of Brussels is looking for a technical assistant (medicine) for the post of nurse in the French-speaking Service de Promotion de la Santé à l'Ecole (PSE). (Lire article)

Pike Fishing - Sport & Leisure

09/02/10 3:46 am

" I am trying to find a great place to camp and go Pike fishing. Anyone out there know of where I..." - Posted by Flippercast. New discussion topic, posted yesterday at 12:46

Finance & Administration Assistant English/French

09/02/10 2:45 am

ERTICO – ITS Europe (www.ertico.com) is a multi-sector, public/private partnership pursuing the development and deployment of Intelligent Transport Systems and Services (ITS). ITS - Intelligent Transport Systems and Services - is the integration of information and communications technology with transport infrastructure, vehicles and users in order to improve the transport system as a whole including issues related to road safety, traffic efficiency, environmental issues and system and infrastructure security.

 

We are currently seeking to recruit a full-time (m/f) FINANCE & ADMINISTRATION ASSISTANT English/French

 

To enhance our Financial and Administrative Department and join our international and dynamic team.

 

The role:

The Finance and Administration assistant plays an active role by collecting and delivering ad hoc information to and for the department.
He/She provides support on ERTICO accountancy, finance, administration and office management.

 

The selected candidate will have the following responsibilities:

  • Collect, check, register and keep track of all order forms, incoming & outcoming invoices, travel claims, according to Belgian law and internal procedures;
  • Prepare payments in appropriate software;
  • Assist in the closing of the books on a monthly basis;
  • Follow-up of EC Projects contracts, budgets, expenditures, timesheets;
  • Perform administrative work and maintain appropriate and confidential records;
  • Responding to correspondence, formatting and editing reports and letters;
  • Day-to-day office & facilities management and orders;
  • Filing and archiving;
  • Back-up of the reception.

 

The successful candidate will:

  • Have at least 2 years experience in a similar position; experience in European Commission projects is an asset;
  • Excellent knowledge of both English and French (written and oral);
  • Good knowledge of MS office and other tools (Excel, Word, Outlook, Internet); SAP is an asset;
  • Accurate – discreet - affinity with figures is mandatory;
  • Have good planning and organisational skills, ability to work with deadlines;
  • Service minded - proactive – flexible;
  • Be a team player and able to work autonomously;
  • Have good relationship & communication skills;
  • Be enthusiastic and positive.

 

ERTICO offers a friendly, dynamic work environment with a chance to grow.

 

Applications:

  • Please send your application letter and resume to Géraldine Viérin, Human Resources Manager, before 15 August 2010, recruitment@mail.ertico.com
  • For security reasons, please note that we cannot accept emails from services such as Yahoo!, Hotmail! Etc. In this case, please fax or post your application instead.

 

 

Employers want to know how you found their job advert so please state that you found this position advertised in EurActiv.

Get the Euractiv JobSite newsletter and receive the latest EU jobs.

Follow the EurActiv JobSite on Twitter and get job-seeking tips and the EU Job of the day.

 

Continuing education. Catalog of courses 2010-2011

09/02/10 1:09 am

The French-speaking education for social advancement of the City of Brussels presents the catalog of courses for 2010-2011. (Lire article)

Director General at IFFO (London)

09/02/10 12:11 am

DIRECTOR GENERAL

St Albans, near London, UK

Attractive Six Figure Package

 

International Fishmeal and Fish Oil Organisation (IFFO) is the international non-profit organisation which represents fishmeal and fish oil producers and related trades throughout the world. With almost 200 members in approximately 50 countries it represents nearly two-thirds of world production plus around 80% of exports of fishmeal and fish oil worldwide. The current Director General will retire in 2011 and the Board seeks to commence the process of recruitment for this important and internationally high profile role.

 

Key result areas of this role will include the following:

  • To lead and direct the team through effective performance management to ensure that individual and collective performance is maximised and strategic objectives are achieved
  • To work with the President and Board in developing a vision for the continued success of IFFO, to communicate and sell this vision internally and externally, providing the drive and motivation to achieve it through inspiring leadership and whilst fostering a culture of excellence and continual professional development
  • To promote and develop IFFO's profile and ability to influence all stakeholders internationally through building effective relationships with relevant private sector organisations, governmental and statutory bodies, all members, key participants in the sector and the media
  • To direct and control optimum organisational and financial performance through effective monitoring and reporting procedures and ensuring corrective action is taken and pursued when required.

 

The successful candidate will be required to have the following criteria:

  • Strong, visionary leadership with demonstrable ability to develop effective relationships with the external community and opinion leaders, instilling confidence in colleagues and a wide range of stakeholders across private, public and political sectors, nationally and internationally
  • Charismatic personality and superior interpersonal skills, able to quickly gain respect, ensure credibility and be at ease in a proactive and high profile role
  • Excellent international track record within the overall value chain of the animal feed and fish industries, 8+ years at senior management level, with experience of creating and delivering effective, innovative and proven strategies
  • Strong commercial and political acumen with the ability to initiate, lead and manage change
  • Experience/knowledge of key issues, both economic and environmental pertaining to the fish industry generally, and the fishmeal and fish oil sector specifically
  • The initiative of a highly motivated self starter able to combine strategic vision with attention to detail and inspirational leadership style, achieving quantifiable success against hard targets
  • Articulate with good language skills, including fluent English and Spanish at business level
  • The position will be based in the UK at the head office in St Albans (within commuting distance of London); frequent international travel will be required

 

Please send a full CV including details of current remuneration to: 
Judy Wagner, FWB, 19 Alva Street, Edinburgh, EH2 4PH. Tel:0131-539-7087 Email: apply@fwbltd.com

 

 

Employers want to know how you found their job advert so please state that you found this position advertised in EurActiv.

Get the Euractiv JobSite newsletter and receive the latest EU jobs.

Become a fan of the JobSite page on Facebook

Follow the EurActiv JobSite on Twitter and get job-seeking tips and the EU Job of the day.

 

Work. Bravvo searches part-time administrative assistant (m/f)

09/02/10 12:05 am

The association Bravvo is looking for a half-time administrative assistant (m/f) for its Secretariat. Job applications are possible until 24 September 2010. The job offer is only available in Dutch and French. (Lire article)

‘Outraged’ MEPs attack France over Roma policy

09/01/10 10:20 pm

Political groups in the Parliament ready to recommend a formal condemnation of Nicolas Sarkozy.

Ashton to announce first appointments

09/01/10 10:19 pm

Around 30 senior staff to be appointed, but legal issues delay efforts to fill posts in Brussels.

Commission to seek new data-sharing mandates

09/01/10 10:19 pm

Commission wants rapid deal with Council and MEPs as the EU expects surge in number of PNR requests.

Belgian presidency eyes deal on financial reforms

09/01/10 10:19 pm

Leading MEP says provisional agreement is 'likely'.

EU to reassess Pakistan strategy

09/01/10 10:19 pm

Pakistan included on informal summit agenda as Kristalina Georgieva calls for more aid money.

Committee to discuss northern Cyprus trade

09/01/10 10:19 pm

Legal affairs committee to examine non-binding legal opinion.

MEPs get tough on human trafficking

09/01/10 10:19 pm

Committees to vote on updating EU rules.

Ashton defends missing out on peace talks in Washington

09/01/10 10:18 pm

Foreign policy chief 'closely involved' in talks, despite being in China.

Belgium wants to make energy policy more ‘consumer friendly’

09/01/10 10:18 pm

Presidency wants to greater focus on secure and affordable energy.

The EU’s environmental credibility under scrutiny

09/01/10 10:18 pm

The European Union’s efforts to protect the natural world beyond its borders will be on display next week, but will also be criticised for a lack of ambition.

Strong opposition to EU patent plan

09/01/10 10:18 pm

Spain joins Italy in objection to proposal but Belgium wants a deal before end of the year.

MEPs to back tougher rules on animal tests

09/01/10 10:18 pm

Media taskforce and speech by Malian leader also on the plenary agenda.

Emissions impossible?

09/01/10 10:15 pm

UN scheme under fire for lack of effectiveness, while Commission seeks to protect emissions scheme.

Greece to be given next tranche of loan

09/01/10 10:12 pm

€9bn to be made available, of which €6.5bn will come from eurozone governments.

Van Rompuy hopes to solve pension row

09/01/10 10:11 pm

Discussion over whether planned reform of rules on fiscal discipline should take account of national pension reforms.

Ministers to discuss bank tax

09/01/10 10:10 pm

Two taxation optionson the agenda but member states are divided over how to take action.

Banks to fail in bid for derivatives exemption

09/01/10 10:04 pm

Commission not willing to extend exemption to the banking sector.

Slow adoption of VAT plan angers businesses

09/01/10 10:02 pm

Member states criticised for not implementing refund procedure.

Fear and prejudice in the Netherlands

09/01/10 9:45 pm

Current and former politicians from the right and the left are uneasy about the possibility of a minority government striking a deal with the right-wing party of Geert Wilders.

High hopes for EU financial regulation deal

09/01/10 2:53 pm

'Definite possibility' of agreement on how to reform the EU's patchy system of financial supervision, including the establishment of pan-EU watchdogs for the banking, insurance and financial market sectors

Brussels set to give way on OTC derivatives

09/01/10 10:59 am

Corporates argued forcing them to process OTC derivatives trades through clearing houses would cause a huge drain on cash, possibly hurting European economic growth prospects

Brussels Development Briefing on 'Financing Agriculture'

09/01/10 4:19 am

The 20th Brussels Development Briefing will be on 'Financing agriculture' and will take place on the 15th of  September 2010. As an input to the UN Summit on MDGs to be held in New York on 22-26 September 2010, we will discuss issues related  to financing development in the context of agriculture and rural development. This will include issue such as Aid and ODA, taxation (Domestic tax revenues), private investment (new donors), revenue generation. Speakers include: Centre for Environmental Policy at  Imperial College in London, the  Partnership to Cut Hunger and Poverty in Africa in the US, CONCORD, OECD, African Development Bank, Caribbean Development Bank, YARA, African regional framers organizations.


For more information please contact: lopes@cta.int or boto@cta.int

Call for projects. 'Green neighborhoods' in the city

09/01/10 4:03 am

Inhabitants of Brussels who want to make their streets or quarters greener, can participate in the project 'Green neighborhoods' (Quartiers Verts). The project is an initiative of the French-speaking association IEB Inter Environnement Bruxelles. The forms are only available in French. (Lire article)

Ski destination - Now on sale!

09/01/10 1:28 am

Ski destination - Now on sale!
The French Alps starting at 60 EUR*!

On Saturdays from 18/12/2010 to 23/04/2011 Thalys whisks you to the slopes via Chambéry, Albertville, Moutiers, Aime-la-Plagne, Landry and Bourg-St-Maurice stations.
Book now!

*Offer subject to conditions

History of the Belgian flag

09/01/10 1:11 am

On the occasion of the 180th anniversary of the Belgian Revolution and the 3rd national gathering of the flag bearers, the Archives of the City of Brussels present a scene of the attack on the Parc de Bruxelles (Warandepark) by the Belgian Volunteers on 25 September 1830. (Lire article)

Account Executive in Public Affairs, Information and Communication Technology (ICT) Practice

08/31/10 1:53 pm

Fleishman-Hillard Brussels is seeking an enthusiastic applicant with at least one year’s experience gained in the European Institutions or a Public Affairs/policy position. Knowledge and experience of working within the ICT environment will be particularly helpful.

 

The successful candidate will have:

  • Knowledge of EU policymaking
  • Excellent writing and research skills and networking ability
  • Excellent verbal and written communications
  • Commitment to the highest standards of service delivery
  • Prior experience in a professional services firm an advantage
  • Ability to manage multiple deadlines and work autonomously
  • Good organizational skills
  • Background in ICT services and the ability to give strategic counsel in these areas
  • Fluency in English (one other European language is welcome)
  • MS Office proficiency

 

Responsibilities will include:

  • Assisting with preparing draft reports and issue analysis
  • Daily monitoring of relevant information sources and reporting on key developments
  • Establishing political intelligence in support of public affairs programmes
  • Developing draft strategic advice and implementation of client strategy
  • Proactively building networks around key issues
  • Assisting with production of new business proposals

 

This is an ideal opportunity for someone seeking to gain broader public affairs experience with an international consultancy. Fleishman-Hillard’s reputation for quality, creativity, and results is the foundation of our distinguished status in the industry.

 

Application

If you’re interested in this opportunity please contact our VP Talent Development CE,
Ireland: ariane.vanderhaegen@fleishmaneurope.com

 

 

Employers want to know how you found their job advert so please state that you found this position advertised in EurActiv.

Get the Euractiv JobSite newsletter and receive the latest EU jobs.

Become a fan of the JobSite page on Facebook

Follow the EurActiv JobSite on Twitter and get job-seeking tips and the EU Job of the day.

 

Our video guest this week: Mr. Pedersen, FAO

08/31/10 11:23 am

Our video guest this week is Mr. Pedersen; he is the director of the FAO Liaison Office with European Union and Belgium. In this interview Mr. Pedersen explains how the FAO is working with the EU. Furthermore, Mr. Pedersen elaborates on the work of the FAO towards the achievement of the Millennium Development Goals. In particular, Mr.  Pedersen stresses on the issue of food security. He presents the various actions and campaigns, such as the 1 billion hungry campaign, to illustrate the work done by the FAO in this area.

Director, European Policy & Government Relations

08/31/10 10:44 am

The Wildlife Conservation Society (WCS) saves wildlife and wild places by understanding critical issues, crafting science-based solutions, and taking conservation actions that benefit nature and humanity. With a century of experience and long-term presence in more than 50 nations, WCS has amassed the biological knowledge, cultural understanding and partnerships to ensure that vibrant, wild places and wildlife thrive alongside local communities. WCS addresses the challenges of the complex inter-relationship between conservation, sustainable development, and human livelihoods; natural resource management and extraction; the wildlife/livestock/ human health interface; and climate change.

In support of this work, we seek a dynamic, conservation-minded professional to build partnerships with European government agencies and legislative bodies on behalf of WCS’s strategic conservation objectives in Africa, Asia and Latin America.

 

The European Policy and Government Relations Director will:

  • Shape WCS policy engagement in Europe support of the conservation programs, so as to (a) align policy initiatives and consequent funding opportunities with WCS conservation priorities, and (b) draw upon the expertise and experience within WCS to help identify, formulate, and articulate policy initiatives of the public sector in Europe.
  • Building upon WCS’s existing policy expertise in Washington, both in the legislative and agency arenas, help support transatlantic linkages for conservation through (a) the coordination of WCS’s political and advocacy actions, and (b) coordination with WCS high-level agency-focused program development efforts in Europe.
  • Support WCS’s policy engagement with multilateral institutions (World Bank, GEF, climate change financing mechanisms, FAO, etc.) related to the conservation of wildlife and wild lands by maintaining relationships with European participants in those processes.
  • Within the framework of an annual workplan developed jointly with WCS Europe, represent WCS in European-based policy discussions with governments, multilateral institutions, treaty organizations and conservation organizations.
  • Ensure an internally-consistent and mission-focused set of policy interventions in Europe.

 

To Apply:

http://www.wcs.org/about-us/careers.aspx

 

 

 

Employers want to know how you found their job advert so please state that you found this position advertised in EurActiv.

Get the Euractiv JobSite newsletter and receive the latest EU jobs.

Become a fan of the JobSite page on Facebook

Follow the EurActiv JobSite on Twitter and get job-seeking tips and the EU Job of the day.

 

Director - Economics & Financial Services Policy

08/31/10 7:51 am

DIRECTOR

Economics & Financial Services Policy

Brussels

If you have solid experience in EU public affairs, want to join a dynamic international team where you can make a mark, and are interested in developing a reputation in particular areas of EU policy – then this is aimed at you.

Kreab Gavin Anderson is a leading international communications company. In Brussels since 1992, we are one of the foremost EU affairs consultancies, with an outstanding reputation. We have a world-class portfolio of clients. We are an international multi-lingual team, based in the heart of the European quarter. In London since 1984 we are one of the foremost specialist Financial, Corporate and Public Affairs communication firms in the world’s financial heart.

We always seek to be the best in our field, and we are looking for the best people in the market to help us reinforce our service offer. We are seeking to recruit a dynamic individual with experience of both the London and Brussels regulatory environments, in order to provide City based clients, and others, with a joined up approach to European affairs. The role will require frequent travel between Brussels and London. Experience in economic and /or financial services policy and regulation is essential.

 

Specific requirements include:

  • 10 years European affairs experience, at least partially within economic and/or financial services sector, with established credibility and judgement to counsel clients from day one.
  • Proven capacity to collaborate effectively within an international team, requiring both cultural flexibility and a team-spirited approach.
  • Demonstrable knowledge of the intricacies of EU processes and institutions, and personal experience of addressing them.
  • The capacity to analyze and communicate clearly, both orally and in writing, the client-relevant aspects of complex policy issues.
  • A capacity to build networks and gather intelligence.
  • Proven organizational capacity, including for event management and campaigning.
  • Ability and desire to drive business development process.
  • Fluent English and at least one other European language in addition.

 

Please send your CV in confidence to Veerle Abeel before 1 October 2010.

Kreab Gavin Anderson
Avenue de Tervueren 2 bte3
B-1040 Brussels
Or by e-mail, marked vacancy director, to
vabeel@kreabgavinanderson.com

 

 

 

Employers want to know how you found their job advert so please state that you found this position advertised in EurActiv.

Get the Euractiv JobSite newsletter and receive the latest EU jobs.

Become a fan of the JobSite page on Facebook

Follow the EurActiv JobSite on Twitter and get job-seeking tips and the EU Job of the day.

 

A European Approach to Public Technical Assistance

08/31/10 6:14 am

What is Public Technical Assistance and how should it incorporate the requirements of the Aid Effectiveness Agenda? The European Network of Implementing Development Agencies, EUNIDA, offers some answers to these questions.

Looming food crisis to hit Afghanistan and Africa first

08/31/10 5:55 am

African nations make up 36 of the 50 nations whose food supplies are most at risk, according to the Food Security Risk Index of 163 countries, compiled by risk analysis firm Maplecroft. Extreme droughts and high poverty rates, as well as poor infrastructure for transporting agricultural products, render Sub-Saharan Africa particularly vulnerable, it said.

MINICOM sensitizes on Economic Partnership Agreements

08/31/10 5:31 am

The Ministry of Trade and industry has started a sensitization campaign on Economic Partnership Agreements (EPAs) in all sectors of economy. The EPAs are wide ranging trade agreements covering goods, services as well as areas of broad economic cooperation between East African Community (EAC) partner states and the European Union (EU).

Biography of Yvan Mayeur

08/31/10 4:47 am

Born on 24 January 1960 in Etterbeek, Yvan Mayeur grew up in the district of the Marolles. At the age of 50, social worker by training, Yvan Mayeur is at present President of the CPAS (Public Welfare Centre) of Brussels and federal Deputy. (Lire article)

(Senior) Adviser, Payments and Securities

08/31/10 3:57 am

The ESBG/WSBI Payments and Securities practice has 4 dimensions:

  • ESBG represents the interests of its Members with the European Parliament, the European Commission, and the European Central Bank, to evolve and shape the legislative and regulatory framework for payments and securities.
  • WSBI represents the interests of its Members with international organizations such as the World Bank and regional development banks to contribute to shaping the policy and regulatory framework for payments and securities.
  • ESBG/WSBI work directly with their Members to foster business co-operation by identifying and developing projects.
  • WSBI provides technical assistance to savings and retail institutions across the world.

 

Position :

Work with the Deputy Director, Payments and Securities, to execute the above missions

 

Profile:

  • Reputed university degree (finance, economics) or equivalent business school graduate .
  • 3 years working experience, either in the banking sector in a euro country (bank, or interbank organisation), or with the European Commission. Experience in payments is a prerequisite.
  • Working language: English. Proficiency in another major European language is required.
  • Excellent analytical and organisational skills.
  • Ability to conduct research and talent to develop position papers.
  • Excellent interpersonal and communication (oral and written) skills.
  • Demonstration of diplomacy and negotiation skills in a multicultural environment, ability to blend with the savings and retail banking culture.
  • Ability to (gradually) represent the organization within interbank working groups.
  • Available for some business travel within the European Union.

 

Only candidates meeting the above requirements are invited to send a detailed c.v., accompanied by a covering letter to: hr@savings-banks.com. For further information, please visit our website: www.savings-banks.com

 

 

 

Employers want to know how you found their job advert so please state that you found this position advertised in EurActiv.

Get the Euractiv JobSite newsletter and receive the latest EU jobs.

Become a fan of the JobSite page on Facebook

Follow the EurActiv JobSite on Twitter and get job-seeking tips and the EU Job of the day.

 

SADC to implement FTAs by 2012

08/31/10 3:36 am

All members of the Southern African Development Community (SADC) should meet the 2012 deadline for the implementation of the Free Trade Areas (FTAs) following a delay in effecting them since their inception in 2008.

EU and FAO back plan to revive areas with high agricultural potential

08/31/10 3:19 am

The fertile lowlands that cover one-fifth of Liberia are part of a European Union and FAO-supported plan to cut the nation's dependence on rice imports and improve the livelihood of vulnerable farmer families.

Director of Member and Industry Affairs

08/31/10 1:14 am

Director of Member & Industry Affairs - ILPA

Department: External Vacancy

 

The Company

The Institutional Limited Partners Association (ILPA) is a global organization of institutional investors in private equity. With highly regarded members and a world-class Board, the association is recognized internationally as supporting the needs of the industry by providing a forum for:

  • Value-added communication and networking
  • Education in the asset class; and
  • Research, best practices and performance measurement

 

The ILPA has:

A membership of over 230 organizations and 1000 private equity professionals spanning all categories of small and large institutions including: Public Pensions, Corporate Pensions, Endowments, Foundations, Family Offices, Insurance Companies

International representation from North America, UK, Europe, Asia, and the Middle East

A membership that represents well over US $1 Trillion in private equity assets under management

 

The Position

Reporting to the Executive Director and as a senior member of the management team, the Director of Member & Industry Affairs will serve as a member and industry conduit of the ILPA.

This position will canvass ILPA membership as well as relevant external groups to identify and understand issues and events that have an effect on (or could have an effect on) private equity investing or its participants.

The Director of Member & Industry Affairs is then responsible for the timely transfer of this information and their assessments of such to members, ILPA team leaders and the Executive Director. This continuous emphasis on key issues for the membership and the communication of same to the team will ensure alignment of focus and strategy across the organization.

In concert with other ILPA team members and their respective programs, the Director of Member & Industry Affairs will be responsible for implementing ILPA responses to the more salient or actionable findings and events. As a natural extension of central responsibilities, the position will also be responsible for membership development. This will entail direct communication with members and potential members regarding strategic development programs impacting the broader membership base as well as issues more specific to members or potential members (i.e. by geography or investor type). The position will elevate ILPA’s external profile and role in Private Equity affairs that shape the industry.

With a keen awareness and understanding of the multifaceted issues impacting private equity and the perspectives of the limited partners, the ideal candidate will understand the importance of the alignment of interests between general partners and limited partners. This role will be filled by a professional that can demonstrate creativity and resourcefulness in developing solutions. The ideal candidate will have existing industry relationships that span the functional, regulatory and investment aspects of private equity across broad industry groups and organizations.

The responsibilities of this role will be global in nature. It is currently expected that this position will be based in Toronto with travel requirements.

 

Key Accountabilities & Responsibilities:

  • Establish and build strong working relationships across the private equity landscape to include members and other practitioners; general partners; regulatory bodies; organizations and associations; those that influence the industry; and service providers and their regulatory or standard-setting bodies
  • Gather member and industry “intelligence” pertaining to various issues and geographies to ensure the association is continuously on the forefront of member and industry issues and events
  • Work with ILPA team leads to determine which issues will become focus issues and result in communication to members, education programs, research, ILPA monitoring and/or ILPA involvement
  • Implement specific ILPA responses to “intelligence” to include development of: communications designed to inform, educate or involve ILPA members or the broader limited partner/practitioner communities; programs to monitor and provide updates of current issues; guidance of research programs (external or via ILPA’s research committee); input and guidance in regard to education programs and similar initiatives
  • Lead the Best Practice and Principles Committee and evolve its mandate. Take innovative ideas from concept to implementation and market initiatives to members and other industry participants
  • Develop and drive the membership strategy and growth via broader position mandates and resulting relationships and specific membership development, retention and acquisition programs.
  • Provide strategic support to the Executive Director, manage staff and overseeing the ILPA’s Best Practice and Principles Committee, Membership Committee and oversee the Research Committee alongside the Research Director
  • Offer industry and practitioner insights to the ILPA team as requested and proactively
  • Seek out and develop revenue streams to support programs

 

Experience & Qualifications

  • 10+ years senior level private equity experience as a limited partner
  • Experience will include demonstrated competencies and understanding across the asset class to include strategic and functional responsibilities
  • A background that includes lead participation and/or development of programs that support the long term sustainability of the asset class
  • Ability to leverage existing industry relationships that span the functional, regulatory and investment aspects of private equity across broad industry groups and organizations
  • Global relationships and investing acumen is highly desirable
  • Experience as a key contributor to business strategy and the where-with-all to be a lead member in executing the business plan
  • Have had success partnering with colleagues across the business and are viewed and respected as a leader and coach
  • Demonstrated management/leadership abilities, including training, team building, and administration
  • A track record of strong relationship building with both internal and external stakeholders
  • A post graduate degree, CFA, JD and/or CAIA charter is preferable. Further, the successful candidate will be required to continue to supplement their private equity education and industry knowledge via formal/accredited programs

 

For more information on this role, please contact

Sandra Vansevenant, find* executive search, 1-416-483-0955 | sandra@findinc.ca

 

 

Employers want to know how you found their job advert so please state that you found this position advertised in EurActiv.

Get the Euractiv JobSite newsletter and receive the latest EU jobs.

Become a fan of the JobSite page on Facebook

Follow the EurActiv JobSite on Twitter and get job-seeking tips and the EU Job of the day.

 

 

 

 

Re: single mothers-how do you deal with work&creche? - Families & Kids

08/30/10 11:36 am

"Hi First I have to say that I am married but my husband will be travelling a lot for work..." - Posted by Sugarplumfairy. 3 replies - last discussed on 30/08/2010

The Incompetence Of The Federal Reserve

08/30/10 7:17 am

This is commentary on an article in The Economist, online edition, Clearing the Air. It is not radically different than other articles concerning the Federal Reserve, monetary policy and speculations about what will happen next. It deserves some analysis, for otherwise this reporting is more confusing than helpful. And while this concerns the US Federal Reserve, the situation regarding the European Central Bank (ECB) is quite similar.

A LITTLE while ago Ben Bernanke, the Federal Reserve chairman, called the economic outlook “unusually uncertain”.

This might be because Bernanke and the Federal Reserve Board do not know how to differentiate a helthy economy from a suffering one. Further, expressing 'uncertainty' is helpful, for then you have hedged your statement and cannot be blamed (severely) if you turn out to be wrong.

The Fed has lately been a source of a lot of that uncertainty. Its officials maintained an upbeat outlook for the economy as the news in recent months went from bad to worse, then on August 10 they seemed to abruptly embrace the opposite view by announcing new steps to stimulate the economy. Matters have not been helped by the public airing of divergent views from officials.

At least divergent views provide the public with a variety of official, qualified statements to choose from. If the Fed officials provide us with a buffet of diverse and contradictory statements, chances are that at least one of them will be reasonably right.

Mr Bernanke cleared up a lot of the confusion with a long speech to the Kansas City Fed’s annual symposium in Jackson Hole, Wyoming today.

Great. So he eventually found out where we are headed, and spelled that out clearly.

In a nutshell, Mr Bernanke said the economy has, indeed, underperformed, but it will get better.

Everyone should like him for that statement. Thanks a bunch!

And if it doesn’t,

Oh, crap... Didn't he just tell us that things will get better? Clearly, without hesitating or hedging? Then, it is more rational to have one person present dissenting views than spreading the task to several.

the Fed will do more unconventional things.

That's Fed-speak.

'Unconventional' in this context usually means "Moneyprinting dressed up in clever ways". But that wording has an unpleasent ring to it – it is much less alarming to take pride in the creativity in solving the problems than it would be to be accurate about the actual means to be employed.

The same morning Mr Bernanke spoke, the Commerce Department was reporting that the economy grew at a miserable 1.6% annual rate in the second quarter, down from its initial estimate of 2.4%. The betting is that the current quarter won’t be much better.

'Underperform', indeed. Wonder if this is the expected result from the stimulus policy of Bernanke and the Obama administration? Worth also noting the term 'betting'. Bernanke does not seem to actually know where we are headed.

Mr Bernanke admits this is unexpected and disappointing,

Well, it shouldn't be, really. It is the unexpected result of what they promised would restore the economy, but which independent analysts doubted, more or less vocally. The vocal doubters were right, Obama and Bernanke were wrong. Not that it would cause any of them to resign, of course.

but it’s not a double dip.

'Double dip' seems to be the bogeyman of these days. The Fed has employed massive 'Unconventional means' to prevent the Double Dip (contraction, growth, then again a contraction of GDP) to happen. He does seem somewhat concerned that his trillion-dollar quantitative easing does not deliver the promised result.

The economy will “continue to expand in the second half of this year, albeit at a relatively modest pace [and] the preconditions for a pickup in growth in 2011 appear to remain in place.”

As measured by GDP. Job count in the private sector tell a different story. But as it is easier to manipulate GDP through monetary policy, which is the responsibility of the Fed, it is natural that he focuses on this, rather than unemployment and other facts closer to the lives of ordinary citizens.

Though puzzled that consumption has been so weak,

Wonder if he imagines he can control the spending habits of the public? At least he admits incompetence again, though it didn't make him submit a resignation this time. Perhaps next time he is caught by surprise by the developments?

Mr Bernanke notes several developments that bode well for a pickup: the household saving rate was recently revised up to 6% from 4%,

Compared to double-digit saving rates in other countries, not least the Far East, this is a ridiculous savings rate in the first place. But the increase is a good sign, savings are important.

suggesting households have made brisk progress in deleveraging, setting the stage for more robust consumption

Ehm..? Consumption, not saving, is supposed to be good for the economy? This seemingly counter-intutive idea does have a rational explanation, however: GDP, which is the most common measure for the health of the economy, is easier to manipulate through monetary policy and inducing optimism into the public. The savings rate, which is more important for long-term economical health, is glossed over by a chairman obviously looking for a quick fix and fast approval.

(if only employment and incomes can pick up).

Here's another catch. Employment usually doesn't catch up when GDP goes up, making the recovery 'jobless', and thus immaterial to a lot of people. But the strong focus on GDP as the real indicator of economical progress is understandable. When it goes up, suitable publicity can improve consumer confidence and give the impression that the crisis truly is over and done with.

Second, financial markets are loosening up, especially since European policy makers got their sovereign debt crisis under control.

This is good. Let's hope for the US to also get their crisis under control. Doesn't seem to be on the radar just yet, however.

Given this constructive view, what to make of the Fed’s decision on August 10 to reinvest the proceeds of maturing mortgage backed securities in its portfolio into Treasury bonds?

This is getting interesting. Just why would the Fed engage in open money-printing, contrary to the wish of the market to let the bonds mature and money supply shrink?

The Fed had previously bought over $1 trillion of MBS as part of its original programme of quantitative easing to bring down long-term interest rates.

OK, the Fed is effectively into the market of providing mortgages. Interesting. Since the Fed, by definition, has an infinite amount of money at its disposal, it would be interesting to know just why it chooses to sink a full trillion dollars into the mortgage market.

The goal of the policy, in part, was to encourage banks and other investors to buy something else more risky, such as corporate loans, thereby boosting investment.

It's interesting to follow the intentions here. The real goal of the Fed being in the mortgage market isn't to be in the mortage market. It is to push others out, that they may increase business investing. This is getting complicated. A short while ago the Fed intended to stimulate consumption. Now it wants to stimulate investment – where in a crisis-struck economy one would expect that investments be let to rest for a while, awaiting new and more profitable opportunities. Not so when the Fed is bent on directing the market and manipulate just how much investing is being done.

There's a risk to this manipulation, however. Driving down interest rates manipulates the calculus of the entrepeneurs, duping them into investing in projects that they would otherwise not engage in (that's the whole point of stimulating investment), which in turn will very likely increase bankruptcies as well. But that's a problem for the future, not for now. The immediate concern is to force GDP up, that the recession can be declared over for real.

But as the economic outlook worsened,

Now, is this the expected or the unexpected result of previous policies? Both options look bad.

mortgage rates plunged, spurring millions of homeowners to pay off their loans and take out lower-rate mortgages.

Common sense of common people, actually. Thinking of the future, protecting the personal economy, avoiding excess risk. Well done, citizens. That rates plummeted can hardly be considered unexpected, that was the original intention of the Fed. Only that actual people would take practical advantage of this was not expected.

Left alone, this rapid pace of repayments would have led the Fed’s portfolio to contract by some $400 billion by the end of 2011, representing an unplanned but serious tightening of monetary policy.

Yes. And the Fed would be the last to sit back and let the market react freely to what it does.

Note "by the end of 2011". This is quite a forward-looking calculation, where we are not given the actual figures, rather a forecast based on them. The Fed desires a precedent for be able to do this in the foreseeable future, based on more modest figures we're not being told today.

By reinvesting those proceeds into an equivalent amount of Treasury debt, the Fed neither increases or decreases its level of monetary stimulus.

But it does turn the supposedly 'temporary' money-printing of purchasing mortgage bonds into a more permanent one of buying Treasury debt. Nice bait'n'switch, Mr. Bernanke.

One might wonder here: Who pays? Certainly the Fed doesn't, for it has no solid assets to back 400 billion dollars, not to mention those that already exist. While there is a national gold reserve at Fort Knox, it is not these gold reserves that provides the value of the dollar.

What ultimately provides the value of the dollar is the products one can purchase for dollars. Expanding the money supply with a trillion does not alter this supply of products directly. Instead, the value of existing dollars is diluted to accommodate the newly created money pool, completely in line with Keynesian thinking. That this might be a cause for dissatisfaction among current holders of dollar-denominated assets is a problem the Fed routinely ignores. The Chinese do not.

Having explained the past, Mr Bernanke then turned to the future: under what conditions would the Fed do even more? First, if today’s low inflation seems about to turn to deflation.

Now, this is meant to be seriously scary. There is one enemy to be defeated at practically any cost, and that enemy is named 'deflation'. Unfortunately, inflation / deflation are measured through the Consumer Price Index (CPI), which has been extensively retooled over the last decades, in order that it may show lower figures than it would 20 or 30 years ago.

This has the fortunate side effect that it reduces payments on indexed bonds, the cost of indexes expenses such as Social Security and wage demands, while giving the Fed more opportunities to expand the money supply, that the CPI may be prevented from falling. The disadvantage is that the policy gets out of touch with the experience of ordinary citizens, who see rising costs of food, fuel and other costs of living. Shadow Government Statistics provides alternative CPI figures based on the old methods of calculation.

Deflation fears are on the rise, with TIPS bonds forecasting a 10% to 15% probability over the next five years.

The official CPI calculation is taken for fact, of course, and are quoted as a reason for fear. What exactly makes 'deflation' fearsome is not explained, it is assumed that everybody knows.

But Mr Bernanke thinks deflation is pretty unlikely, and in fact doesn’t seem to think inflation will go lower than its current, underlying rate of around 1%.

'Underlying'? If there is any 'underlying' cause for inflation, it would be the growth in money supply. Inflation is not caused by itself, it is caused by inflating the money supply.

The second condition, and one more likely to trigger action, is if the economy makes no progress in closing the gaping gap between today’s GDP and potential GDP.

Here is another term one is supposed to understand, namely the Potential GDP, for it is a (fictious) parameter that the Federal Reserve is trying to achieve through its policies. Then, if the economy doesn't deliver the growth it 'should', the Fed has a reason to increase the money supply.

As a practical matter, that means growth has to move above 2.5% and unemployment has to drop.

Something firm, that's good. GDP growth is a positive trend, yet falling unemployment would constitute real improvement for real people, a real and lasting improvement.

Mr Bernanke doesn’t seem to think that will happen until 2011, which implies a willingness to wait a few more months for evidence on the prospects for that 2011 pickup.

This is how influential the Fed is: The press even speculates what the chairman "seems to think".

That the Fed is not ready to do more quantitative easing yet is arguably disappointing.

As if we didn't have enough money-printing already... But then, The Economist would have a large share of its readers in the financial sector, which by definition (Fractional Reserve Banking) stands first in line to benefit from 'quantitative easing', which makes the disappointment understandable.

It could easily have justified more action a full year ago given what even then was its lacklustre outlook, and the downside risks (which seem to be coming to fruition). That’s the path the Bank of England, facing similar circumstances, chose.

Sure, Bank of England chose that course. In context it would be useful to also be told what results that brought about, if the extensive quantitative easing done by BoE had finished off the problems for good.

But that’s uncharitable. That Mr Bernanke has not moved as quickly as many of us would have preferred is less important than the fact that his views are still diametrically opposed to the Bank of Japan credo that monetary policy can’t and shouldn’t be used aggressively in a deleveraging, post-crisis economy. 

That is something the BoJ would know about. It used quantitative easing extensively to solve the Japanese financial crisis in the 1990's, which did manage to keep many moribound banks and businesses alive for years, create an amazing national debt, and keep the crisis intact fo a full decade. BoJ seems to have learned a lesson not heeded by BoE, the Fed, or the author of this article.

What would additional action consist of? Mr Bernanke cites four possibilities. One, raising the Fed’s inflation objective (now around 2%), he dismissed out of hand: it would “squander” the Fed’s “hard won credibility”.

The scare quotes seem appropriate. Increasing the inflation target (keep in mind the CPI problems mentioned above) would create more headroom for 'quantitative easing' (money-printing) by the actual tools the Fed has. The inflation target is not a tool in itself.

Another, hardening its commitment to zero rates for a long time, would have marginal benefits

Put another way: That doesn't create all that much more money.

and run up against the market’s well known tendency to wrongly assume that such commitments are unconditional.

The Fed, as usual, is set against the free market. Entrepeneurs, bankers etc. prefer a predictable environment for business decisions and will try to lock in to the current state of things. That makes it easier to deterimine the appropriate investments to do in order to run business in a profitable manner. That they have an opponent able and dedicated to manipulating the business environment in unpredictable manners complicates matters, and business decisions, somewhat.

A third, lowering the rate the Fed pays on commercial bank reserves at the Fed from its current 0.25%, would have almost no impact on the interest rates that people actually pay.

That's true. If the Fed is determined to run interest rates in the commercial market through the floor, alternative methods will surely be needed.

That leaves buying more bonds.

The classical way to create more money: Swap for debt. This never fails.

Mr Bernanke points out the benefits of more QE are uncertain and the costs are growing, as the public might worry that the Fed will fail to keep all the money it printed to buy those bonds from producing inflation.

A valid concern, indeed.

Such fears are largely unfounded

Unfortunately, this is dismissed as 'fear' without further analysis.

—the Fed has many more tools for tightening monetary policy than for easing it further.

Actually the Fed has exacly the same tools for easing as for tightening. It just happens that these tools, in particular the less obviously money-printing ones , are already maxed out in the direction of 'quantitative easing'. Which, as seen above, has not created much in the way of actual economic growth, not to mention new jobs.

But even unfounded fears can affect reality, for example by boosting long-term rates.

What here is called 'unfounded fears' is actually the sum of real decisions by real people, who individually evaluate the economic environment and make decisions what to do. Locking their mortgages into a fixed, long-term rate is the kind of deleveraging and risk minimization we need – it makes people less vulnerable to – aha – rising interest rates! The author of the article is looking at a warning sign the size of a billboard – yet fails to recognize it for what it is, choosing instead to uncritically propagate the Fed narrative.

Mr Bernanke made it clear that if either of his two conditions are met, these misgivings would not get in the way:

So even if the costs of further 'quantitative easing' is rising, Mr. Bernanke is fully intent to go down that road. Nothing seems able to stop this man, who elaborates:

It is worthwhile to note that, if deflation risks were to increase, the benefit-cost tradeoffs of some of our policy tools could become significantly more favorable...Because a further significant weakening in the economic outlook would likely be associated with further disinflation, in the current environment there is little or no potential conflict between the goals of supporting growth and employment and of maintaining price stability.

Long-winded, but actually clear enough: The 'risk' of deflation (see CPI debate above) eventually beats each and every concern one might have for the consequences of yet more 'quantitative easing'. This invites to quoting an earlier statement:

But even unfounded fears can affect reality.

As true as it gets. In particular for the Federal Reserve.

Fed officials gathered under a hail of criticism for communicating badly.

While usally not spelled out as clear as this, the criticism is richly deserved. Under the chairmanship of Alan Greenspan, hazy and self-hedging statements became the order of the day. That has not changed under the current chairmanship, it still takes a lot of analysis to figure out what was actually said, which parts of that were clear, which were hedged, and what the implications are.

The accusations are off base.

Perhaps to those accustomed to Fed-speak. To most citizens, Bernanke might as well speak Greek. Still communication is less important than actual policy.

The Fed doesn’t have a communications problem, it has a policy problem.

While it is simplistic to dismiss the communication problem, there is no doubt that a real and serious policy problems does indeed exist.

The recovery has stumbled and the central bank isn't sure why.

Ehm, could it be as simple as .. incompetence? That the causes for the crisis are not understood, that that appropriate remedy is not understood, and that the failure of the wrong remedies to work is not understood?

Having long ago used up its conventional monetary ammunition, it’s not sure how effective more unconventional ammunition will be.

We need to recall here that 'unconventional' means 'money-printing beyond what is supposed to be sound policy'. The guidelines that are being broken when resorting to 'unconventional' policies are those set in place to ensure that money remains sound. Breaking those is dangerous, and breaking them further, based on the first violations not fixing the problem, seems downright foolhearted.

The 17 members of the Federal Open Market Committee, like the outside world, are divided and unsure about what to do.

Perhaps they should simply not do anything. That is frequently the best choice when uncertain what to do and why.

That their divisions have spilled out into the open dismays many at the Fed, but that ultimately doesn’t matter.

Except that it could damage the "hard won credibility" of the Fed.

The Fed is not the Supreme Court. What the chairman wants, the chairman gets.

Swell. But it's good to have on record that the Fed functions like a dictatorship.

When Mr Bernanke has decided that one of his two conditions will be met, there will be more quantitative easing.

Anyone surprised here?

Judging from Friday’s speech, he’s not there yet.

No, he needs to prepare the ground first. Unless someone protests, loudly, we will get more of the medicine that does not work. Then later further 'surprise' that it still didn't. And since the Fed is basically accountable to noone, this can continue endlessly.

Won't somebody take this man to task for his greatest problem: incompetence?

The Incompetence Of The Federal Reserve

08/30/10 7:17 am

This is commentary on an article in The Economist, online edition, Clearing the Air. It is not radically different than other articles concerning the Federal Reserve, monetary policy and speculations about what will happen next. It deserves some analysis, for otherwise this reporting is more confusing than helpful. And while this concerns the US Federal Reserve, the situation regarding the European Central Bank (ECB) is quite similar.

A LITTLE while ago Ben Bernanke, the Federal Reserve chairman, called the economic outlook “unusually uncertain”.

This might be because Bernanke and the Federal Reserve Board do not know how to differentiate a helthy economy from a suffering one. Further, expressing 'uncertainty' is helpful, for then you have hedged your statement and cannot be blamed (severely) if you turn out to be wrong.

The Fed has lately been a source of a lot of that uncertainty. Its officials maintained an upbeat outlook for the economy as the news in recent months went from bad to worse, then on August 10 they seemed to abruptly embrace the opposite view by announcing new steps to stimulate the economy. Matters have not been helped by the public airing of divergent views from officials.

At least divergent views provide the public with a variety of official, qualified statements to choose from. If the Fed officials provide us with a buffet of diverse and contradictory statements, chances are that at least one of them will be reasonably right.

Mr Bernanke cleared up a lot of the confusion with a long speech to the Kansas City Fed’s annual symposium in Jackson Hole, Wyoming today.

Great. So he eventually found out where we are headed, and spelled that out clearly.

In a nutshell, Mr Bernanke said the economy has, indeed, underperformed, but it will get better.

Everyone should like him for that statement. Thanks a bunch!

And if it doesn’t,

Oh, crap... Didn't he just tell us that things will get better? Clearly, without hesitating or hedging? Then, it is more rational to have one person present dissenting views than spreading the task to several.

the Fed will do more unconventional things.

That's Fed-speak.

'Unconventional' in this context usually means "Moneyprinting dressed up in clever ways". But that wording has an unpleasent ring to it – it is much less alarming to take pride in the creativity in solving the problems than it would be to be accurate about the actual means to be employed.

The same morning Mr Bernanke spoke, the Commerce Department was reporting that the economy grew at a miserable 1.6% annual rate in the second quarter, down from its initial estimate of 2.4%. The betting is that the current quarter won’t be much better.

'Underperform', indeed. Wonder if this is the expected result from the stimulus policy of Bernanke and the Obama administration? Worth also noting the term 'betting'. Bernanke does not seem to actually know where we are headed.

Mr Bernanke admits this is unexpected and disappointing,

Well, it shouldn't be, really. It is the unexpected result of what they promised would restore the economy, but which independent analysts doubted, more or less vocally. The vocal doubters were right, Obama and Bernanke were wrong. Not that it would cause any of them to resign, of course.

but it’s not a double dip.

'Double dip' seems to be the bogeyman of these days. The Fed has employed massive 'Unconventional means' to prevent the Double Dip (contraction, growth, then again a contraction of GDP) to happen. He does seem somewhat concerned that his trillion-dollar quantitative easing does not deliver the promised result.

The economy will “continue to expand in the second half of this year, albeit at a relatively modest pace [and] the preconditions for a pickup in growth in 2011 appear to remain in place.”

As measured by GDP. Job count in the private sector tell a different story. But as it is easier to manipulate GDP through monetary policy, which is the responsibility of the Fed, it is natural that he focuses on this, rather than unemployment and other facts closer to the lives of ordinary citizens.

Though puzzled that consumption has been so weak,

Wonder if he imagines he can control the spending habits of the public? At least he admits incompetence again, though it didn't make him submit a resignation this time. Perhaps next time he is caught by surprise by the developments?

Mr Bernanke notes several developments that bode well for a pickup: the household saving rate was recently revised up to 6% from 4%,

Compared to double-digit saving rates in other countries, not least the Far East, this is a ridiculous savings rate in the first place. But the increase is a good sign, savings are important.

suggesting households have made brisk progress in deleveraging, setting the stage for more robust consumption

Ehm..? Consumption, not saving, is supposed to be good for the economy? This seemingly counter-intutive idea does have a rational explanation, however: GDP, which is the most common measure for the health of the economy, is easier to manipulate through monetary policy and inducing optimism into the public. The savings rate, which is more important for long-term economical health, is glossed over by a chairman obviously looking for a quick fix and fast approval.

(if only employment and incomes can pick up).

Here's another catch. Employment usually doesn't catch up when GDP goes up, making the recovery 'jobless', and thus immaterial to a lot of people. But the strong focus on GDP as the real indicator of economical progress is understandable. When it goes up, suitable publicity can improve consumer confidence and give the impression that the crisis truly is over and done with.

Second, financial markets are loosening up, especially since European policy makers got their sovereign debt crisis under control.

This is good. Let's hope for the US to also get their crisis under control. Doesn't seem to be on the radar just yet, however.

Given this constructive view, what to make of the Fed’s decision on August 10 to reinvest the proceeds of maturing mortgage backed securities in its portfolio into Treasury bonds?

This is getting interesting. Just why would the Fed engage in open money-printing, contrary to the wish of the market to let the bonds mature and money supply shrink?

The Fed had previously bought over $1 trillion of MBS as part of its original programme of quantitative easing to bring down long-term interest rates.

OK, the Fed is effectively into the market of providing mortgages. Interesting. Since the Fed, by definition, has an infinite amount of money at its disposal, it would be interesting to know just why it chooses to sink a full trillion dollars into the mortgage market.

The goal of the policy, in part, was to encourage banks and other investors to buy something else more risky, such as corporate loans, thereby boosting investment.

It's interesting to follow the intentions here. The real goal of the Fed being in the mortgage market isn't to be in the mortage market. It is to push others out, that they may increase business investing. This is getting complicated. A short while ago the Fed intended to stimulate consumption. Now it wants to stimulate investment – where in a crisis-struck economy one would expect that investments be let to rest for a while, awaiting new and more profitable opportunities. Not so when the Fed is bent on directing the market and manipulate just how much investing is being done.

There's a risk to this manipulation, however. Driving down interest rates manipulates the calculus of the entrepeneurs, duping them into investing in projects that they would otherwise not engage in (that's the whole point of stimulating investment), which in turn will very likely increase bankruptcies as well. But that's a problem for the future, not for now. The immediate concern is to force GDP up, that the recession can be declared over for real.

But as the economic outlook worsened,

Now, is this the expected or the unexpected result of previous policies? Both options look bad.

mortgage rates plunged, spurring millions of homeowners to pay off their loans and take out lower-rate mortgages.

Common sense of common people, actually. Thinking of the future, protecting the personal economy, avoiding excess risk. Well done, citizens. That rates plummeted can hardly be considered unexpected, that was the original intention of the Fed. Only that actual people would take practical advantage of this was not expected.

Left alone, this rapid pace of repayments would have led the Fed’s portfolio to contract by some $400 billion by the end of 2011, representing an unplanned but serious tightening of monetary policy.

Yes. And the Fed would be the last to sit back and let the market react freely to what it does.

Note "by the end of 2011". This is quite a forward-looking calculation, where we are not given the actual figures, rather a forecast based on them. The Fed desires a precedent for be able to do this in the foreseeable future, based on more modest figures we're not being told today.

By reinvesting those proceeds into an equivalent amount of Treasury debt, the Fed neither increases or decreases its level of monetary stimulus.

But it does turn the supposedly 'temporary' money-printing of purchasing mortgage bonds into a more permanent one of buying Treasury debt. Nice bait'n'switch, Mr. Bernanke.

One might wonder here: Who pays? Certainly the Fed doesn't, for it has no solid assets to back 400 billion dollars, not to mention those that already exist. While there is a national gold reserve at Fort Knox, it is not these gold reserves that provides the value of the dollar.

What ultimately provides the value of the dollar is the products one can purchase for dollars. Expanding the money supply with a trillion does not alter this supply of products directly. Instead, the value of existing dollars is diluted to accommodate the newly created money pool, completely in line with Keynesian thinking. That this might be a cause for dissatisfaction among current holders of dollar-denominated assets is a problem the Fed routinely ignores. The Chinese do not.

Having explained the past, Mr Bernanke then turned to the future: under what conditions would the Fed do even more? First, if today’s low inflation seems about to turn to deflation.

Now, this is meant to be seriously scary. There is one enemy to be defeated at practically any cost, and that enemy is named 'deflation'. Unfortunately, inflation / deflation are measured through the Consumer Price Index (CPI), which has been extensively retooled over the last decades, in order that it may show lower figures than it would 20 or 30 years ago.

This has the fortunate side effect that it reduces payments on indexed bonds, the cost of indexes expenses such as Social Security and wage demands, while giving the Fed more opportunities to expand the money supply, that the CPI may be prevented from falling. The disadvantage is that the policy gets out of touch with the experience of ordinary citizens, who see rising costs of food, fuel and other costs of living. Shadow Government Statistics provides alternative CPI figures based on the old methods of calculation.

Deflation fears are on the rise, with TIPS bonds forecasting a 10% to 15% probability over the next five years.

The official CPI calculation is taken for fact, of course, and are quoted as a reason for fear. What exactly makes 'deflation' fearsome is not explained, it is assumed that everybody knows.

But Mr Bernanke thinks deflation is pretty unlikely, and in fact doesn’t seem to think inflation will go lower than its current, underlying rate of around 1%.

'Underlying'? If there is any 'underlying' cause for inflation, it would be the growth in money supply. Inflation is not caused by itself, it is caused by inflating the money supply.

The second condition, and one more likely to trigger action, is if the economy makes no progress in closing the gaping gap between today’s GDP and potential GDP.

Here is another term one is supposed to understand, namely the Potential GDP, for it is a (fictious) parameter that the Federal Reserve is trying to achieve through its policies. Then, if the economy doesn't deliver the growth it 'should', the Fed has a reason to increase the money supply.

As a practical matter, that means growth has to move above 2.5% and unemployment has to drop.

Something firm, that's good. GDP growth is a positive trend, yet falling unemployment would constitute real improvement for real people, a real and lasting improvement.

Mr Bernanke doesn’t seem to think that will happen until 2011, which implies a willingness to wait a few more months for evidence on the prospects for that 2011 pickup.

This is how influential the Fed is: The press even speculates what the chairman "seems to think".

That the Fed is not ready to do more quantitative easing yet is arguably disappointing.

As if we didn't have enough money-printing already... But then, The Economist would have a large share of its readers in the financial sector, which by definition (Fractional Reserve Banking) stands first in line to benefit from 'quantitative easing', which makes the disappointment understandable.

It could easily have justified more action a full year ago given what even then was its lacklustre outlook, and the downside risks (which seem to be coming to fruition). That’s the path the Bank of England, facing similar circumstances, chose.

Sure, Bank of England chose that course. In context it would be useful to also be told what results that brought about, if the extensive quantitative easing done by BoE had finished off the problems for good.

But that’s uncharitable. That Mr Bernanke has not moved as quickly as many of us would have preferred is less important than the fact that his views are still diametrically opposed to the Bank of Japan credo that monetary policy can’t and shouldn’t be used aggressively in a deleveraging, post-crisis economy. 

That is something the BoJ would know about. It used quantitative easing extensively to solve the Japanese financial crisis in the 1990's, which did manage to keep many moribound banks and businesses alive for years, create an amazing national debt, and keep the crisis intact fo a full decade. BoJ seems to have learned a lesson not heeded by BoE, the Fed, or the author of this article.

What would additional action consist of? Mr Bernanke cites four possibilities. One, raising the Fed’s inflation objective (now around 2%), he dismissed out of hand: it would “squander” the Fed’s “hard won credibility”.

The scare quotes seem appropriate. Increasing the inflation target (keep in mind the CPI problems mentioned above) would create more headroom for 'quantitative easing' (money-printing) by the actual tools the Fed has. The inflation target is not a tool in itself.

Another, hardening its commitment to zero rates for a long time, would have marginal benefits

Put another way: That doesn't create all that much more money.

and run up against the market’s well known tendency to wrongly assume that such commitments are unconditional.

The Fed, as usual, is set against the free market. Entrepeneurs, bankers etc. prefer a predictable environment for business decisions and will try to lock in to the current state of things. That makes it easier to deterimine the appropriate investments to do in order to run business in a profitable manner. That they have an opponent able and dedicated to manipulating the business environment in unpredictable manners complicates matters, and business decisions, somewhat.

A third, lowering the rate the Fed pays on commercial bank reserves at the Fed from its current 0.25%, would have almost no impact on the interest rates that people actually pay.

That's true. If the Fed is determined to run interest rates in the commercial market through the floor, alternative methods will surely be needed.

That leaves buying more bonds.

The classical way to create more money: Swap for debt. This never fails.

Mr Bernanke points out the benefits of more QE are uncertain and the costs are growing, as the public might worry that the Fed will fail to keep all the money it printed to buy those bonds from producing inflation.

A valid concern, indeed.

Such fears are largely unfounded

Unfortunately, this is dismissed as 'fear' without further analysis.

—the Fed has many more tools for tightening monetary policy than for easing it further.

Actually the Fed has exacly the same tools for easing as for tightening. It just happens that these tools, in particular the less obviously money-printing ones , are already maxed out in the direction of 'quantitative easing'. Which, as seen above, has not created much in the way of actual economic growth, not to mention new jobs.

But even unfounded fears can affect reality, for example by boosting long-term rates.

What here is called 'unfounded fears' is actually the sum of real decisions by real people, who individually evaluate the economic environment and make decisions what to do. Locking their mortgages into a fixed, long-term rate is the kind of deleveraging and risk minimization we need – it makes people less vulnerable to – aha – rising interest rates! The author of the article is looking at a warning sign the size of a billboard – yet fails to recognize it for what it is, choosing instead to uncritically propagate the Fed narrative.

Mr Bernanke made it clear that if either of his two conditions are met, these misgivings would not get in the way:

So even if the costs of further 'quantitative easing' is rising, Mr. Bernanke is fully intent to go down that road. Nothing seems able to stop this man, who elaborates:

It is worthwhile to note that, if deflation risks were to increase, the benefit-cost tradeoffs of some of our policy tools could become significantly more favorable...Because a further significant weakening in the economic outlook would likely be associated with further disinflation, in the current environment there is little or no potential conflict between the goals of supporting growth and employment and of maintaining price stability.

Long-winded, but actually clear enough: The 'risk' of deflation (see CPI debate above) eventually beats each and every concern one might have for the consequences of yet more 'quantitative easing'. This invites to quoting an earlier statement:

But even unfounded fears can affect reality.

As true as it gets. In particular for the Federal Reserve.

Fed officials gathered under a hail of criticism for communicating badly.

While usally not spelled out as clear as this, the criticism is richly deserved. Under the chairmanship of Alan Greenspan, hazy and self-hedging statements became the order of the day. That has not changed under the current chairmanship, it still takes a lot of analysis to figure out what was actually said, which parts of that were clear, which were hedged, and what the implications are.

The accusations are off base.

Perhaps to those accustomed to Fed-speak. To most citizens, Bernanke might as well speak Greek. Still communication is less important than actual policy.

The Fed doesn’t have a communications problem, it has a policy problem.

While it is simplistic to dismiss the communication problem, there is no doubt that a real and serious policy problems does indeed exist.

The recovery has stumbled and the central bank isn't sure why.

Ehm, could it be as simple as .. incompetence? That the causes for the crisis are not understood, that that appropriate remedy is not understood, and that the failure of the wrong remedies to work is not understood?

Having long ago used up its conventional monetary ammunition, it’s not sure how effective more unconventional ammunition will be.

We need to recall here that 'unconventional' means 'money-printing beyond what is supposed to be sound policy'. The guidelines that are being broken when resorting to 'unconventional' policies are those set in place to ensure that money remains sound. Breaking those is dangerous, and breaking them further, based on the first violations not fixing the problem, seems downright foolhearted.

The 17 members of the Federal Open Market Committee, like the outside world, are divided and unsure about what to do.

Perhaps they should simply not do anything. That is frequently the best choice when uncertain what to do and why.

That their divisions have spilled out into the open dismays many at the Fed, but that ultimately doesn’t matter.

Except that it could damage the "hard won credibility" of the Fed.

The Fed is not the Supreme Court. What the chairman wants, the chairman gets.

Swell. But it's good to have on record that the Fed functions like a dictatorship.

When Mr Bernanke has decided that one of his two conditions will be met, there will be more quantitative easing.

Anyone surprised here?

Judging from Friday’s speech, he’s not there yet.

No, he needs to prepare the ground first. Unless someone protests, loudly, we will get more of the medicine that does not work. Then later further 'surprise' that it still didn't. And since the Fed is basically accountable to noone, this can continue endlessly.

Won't somebody take this man to task for his greatest problem: incompetence?

Re: squash partner wanted (beginner) - Sport & Leisure

08/30/10 5:36 am

"Hello, I would like to learn squash. i have found a nice squash club with reasonable lesson..." - Posted by fedzia. 1 reply - last discussed on 30/08/2010

Spain: Proposal about the statute of seasonal workers

08/30/10 4:28 am

The European Commission presented to the European Parliament and to the Member States a proposal on seasonal workers, based on the consideration that the economy of the EU requires seasonal workers that are not available in the UE labor market, especially in agriculture, horticulture, and tourism.

1.6 Million Euro Tugboats Project Commissioned

08/30/10 3:55 am

The 1.6 million Euro Tugboats Rehabilitation Project of the European Union (EU) and The Gambia Groundnut Cooperation (GGC), was last Friday commissioned at the GGC head office at Denton Bridge in Banjul. Speaking at the ceremony, Helene Cave, the outgoing charge d' affaires of the European Union in The Gambia, called for greater support to President Jammeh's back-to-the-land initiative to ensure rapid attainment of the country's food self-sufficiency drive.

EU Pledges Support to the San

08/30/10 3:45 am

The European Union (EU) has pledged its continued support to the indigenous San people in Namibia, most of whom are still undergoing transformation from being hunters and gatherers to becoming active participants in the mainstream economy.

Pacific ACP Leaders Meet in Port Vila

08/30/10 3:35 am

On August 3, 2010, the Leaders from the Pacific section of the African, Caribbean, Pacific (PACP) countries held their 8th summit meeting at Le Lagon Resort, in Port Vila, Vanuatu. The PACP countries include the Cook Islands, the Federated States of Micronesia, Kiribati, the Republic of the Marshall Islands, Niue, Nauru, the Republic of Palau, Papua New Guinea, Samoa, Solomon Islands, Timor Leste, Tuvalu, Tonga and Vanuatu.

Mauritania: The EC contributes € 64 million to the fisherie sector

08/30/10 3:13 am

On 4 August 2010, the European Commission paid € 64 million as part of the annual financial contribution of the Fisheries Partnership Agreement (FPA) with Mauritania.This contribution includes a first component to pay for the cost of access of EU vessels to Mauritanian waters (€ 55 million) and a second component to support the partner country's fisheries sector (€ 9 million).

Public consultation: Protecting our natural capital - an EU strategy

08/30/10 2:04 am

Public consultation: Protecting our natural capital: an EU strategy to conserve biodiversity and ensure the provision of ecosystem services by 2020  

DG Environment are pleased to announce that the public consultation on the post-2010 EU biodiversity strategy is now available from the following website: http://ec.europa.eu/environment/consultations/biodecline.htm