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LyrArc brings in selected articles from many of the world's top publications.

Articles are selected by experts and you can see the gist of the important articles.


New York Times Original article ›
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Japan's Foreign Minister tells Martin Fackler of the NYT in an interview that the Abe government will follow previous governments in the postwar period that apologized for colonial policies that caused suffering in other parts of Asia. He repeatedly calls for Japanese to be humble about the past. Previous statements by persons seen to be close to the government, including the head of NHK broadcaster, were interpreted negatively in S. Korea, China and the U.S. as needlessly escalating tensions in the region. China and S. Korea responded with a public relations campaign of their own to present what happened in the prewar period. S. Korean president Park refused to meet Japan's premier Abe. Kishida used NYT and Fackler to send a message to a global audience about Japan taking a path of peace since 1945.
The New York Times Original article ›
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Britain's High Court gives a ruling on November 2, 2016, that the government must consult parliament, and that parliament has to approve the plan for Brexit before invoking Article 50. This means that the government has to lay out the details of its plans which make it harder to conduct negotiations. The Conservative Party also does not have a majority in the House of Lords. Legal experts say the decision which caught the government by surprise was expected from a constitutional law standpoint which looks at whether the sovereign or parliament is supreme in making such a decision. Members of parliament in general were not in favor of leaving the European Union, making this add an element of uncertainty about Brexit. Political experts say one way out for Theresa May who earlier announced that she would invoke Article 50 by March 2017, is to call a general election. Today she has 329 seats in a 650 member parliament, with many of the MP's opposed to Brexit. May's government is expected to appeal the High Court decision to the Supreme Court. ...
BBC News Original article ›
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BBC's Europe Editor Katya Adler talks to EU officials and gives this assessment of how the situation in Britain after the elections looks from the European Union. The elections in France with pro-EU Macron winning with a large majority, the increasing support for Angela Merkel in Germany, the drubbing for the Five Star Movement in Italy, all point to increasing confidence in the EU, and willingness to let Britain sort its mess out while the EU focusses on more pressing issues. Adler calls the first day of talks on Brexit a Mad Hatters Tea Party, showing how Britain is seen in the EU as having a huge complicated mess to sort out. British politicians are seen from the outside as having ruffled up the electorate on migration, the European Court of Justice and other issues, just to make their own points and for their own ends, not necessarily having the best interests of Britain in mind.

New York Times Original article ›
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The appointment of a idealistic reformer and civic campaigner against government corruption to the post of Finance Minister by Yukio Hatoyama shows the desire of Hatoyama to bring control over the country's bureaucratic structures.
The Times Original article ›
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Britain's new prime minister, Boris Johnson, asks the EU to scrap the Irish backstop. The so-called  Irish backstop was designed to help preserve the fragile peace in Northern Ireland and keep the border with Ireland open. The Irish prime minister Varadkar has insisted on this part of the previously negotiated Brexit deal under Theresa May.

Angela Merkel's policy spokesperson in the Bundestag, the GErman parliament, says it is "impossible" that this would be taken out of any withdrawal agreement. 

Mr. Johnson also said that Remainer Tory MP's efforts to use parliament to stop a no-deal Brexit, something brought up by Mr. Varadkar in his talk with Johnson, would not be allowed to stop Britain leaving the European Union on October 31st. This is what he will tell Merkel in an upcoming meeting.

Wall Street Journal Original article ›
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China's view on its new Air Defense Zone as expressed by the Foreign Ministry is that if European countries and Japan are entitled to set their own air defense zones then China should be able to set its own zone. The differences with Asian neigbors and the U.S. arises over the fact that this overlaps with the zones of S. Korea, Japan and Taiwan and also covers the area of the disputed Senkaku Islands. Other problems lie in the ambiguous wording and failure to share this information in advance with other countries. As it stands B-52's from the U.S. and Japanese planes entered the zone on Nov. 29, and Chinese fighter jets tracked the planes but there was no incident. U.S. civilian airlines have agreed to follow the rules set by China for the air defense zone, and the U.S. government says it will let the airlines make the decision to follow the zone. The EU protested the setting up of the new air defense zone.
DW.COM Original article ›
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40 members of parliament agree to sign a letter of no confidence in prime minister Theresa May, in November 2017, according to the Sunday Times report. If 48 members of parliament agree Theresa May would be forced to resign from office.

After a snap election in June members of the Conservative Party are showing lack of support for her government. There is also considerable uncertainty over Brexit and the outcome of negotiations with the EU.

New York Times Original article ›
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Efforts to setup an autonomous Kurdish region in Syria based on the model set by the Autonomous Kurdish region of Iraq. An opportunity for Kurdish people to be able to live with their own language and culture within the framework of a federal state in Iraq and Syria. The Kurdish Autonomous region based in Erbil has acted as a mediator between Sunni and Shiite interests and worked within the framework of a federal state in Iraq. Turkey still fears the minority Kurds within its borders and seeks to assimilate them into Turkey. The government of prime minister Erdogan has shifted the political stance with Kurds by seeking Kurdish support in elections. There is the example in Europe and Asia of people in certain regions working within a federal state that tolerates the culture and language of the people within the state- the Catalans and Basque people in Spain are one example. This has come after years of repression of language and culture, and it has only changed as a new spirit of tolerance has prevailed in Europe after the pain of the period between the wars. A range of other communities with distinct language and culture have learned to function and prosper within a federal state- French Quebec within Canada is another example in N. America. In Asia, the best example is India, which is a federal state with many languages and cultures, varied enough to be amazing. A properly functioning democracy and economic system, with educational systems that support tolerant attitudes, provides the framework for this to happen. It is challenging at times but it is a better alternative to generations of conflict....
New York Times Original article ›
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In an hour long interview at the Moncloa palace in Madrid, Zapatero, Spain's prime minister, talks to NYT reporters Rachel Donadio and Victoria Burnett. He is standing firm when it comes to protecting labor rights and upholding th social welfare state. Zapatero says "my goal is to make this an innovative, creative, entrepreneurial country while upholding the social welfare state." He sees the need for government to invest in the economic crisis facing Europe and America. And he sees opportunities for Spain to create jobs and growth in sectors like renewable energy, biotechnology, civil engineering and high-speed railroads. About 4 million immigrants entered the country during the years of 3.8% growth from 1997 to 2007. Four million people are now unemployed, and the burden of unemployment has fallen hardest in construction and on immigrants and younger workers. The government has expanded unemployment benefits coverage and about half of the unemployed 4 million receive benefits. Zapatero's government turned down an effort by business leaders to roll back the payment to laid off workers from 30-45 days for each year worked to 20 days....
The Guardian Original article ›
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Keir Starmer of Labour appeals to Scottish people after Nicola Sturgeon's resignation. He says Labour must win back the confidence of the Scottish people, that he wanted to be prime minister for the UK not of the UK. The road to electoral success "must run through Scotland."

The New York Times Original article ›
The Economist Original article ›
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This leader in The Economist magazine says a hard Brexit of the sort announced by Theresa May at a Conservative Party conference is clearly bad for Britain. It also point out that half of British people voted to remain. It is not clear that voters have voted for a hard Brexit, a soft Brexit, or voter alienation with elites and effects of years of austerity since the financial crisis have helped tilt the vote to Brexit. It points out that the rhetoric may be damaging Britain's chance of negotiating a Brexit that limits damage to GDP, which the Treasury estimates to be nearly twice the loss in GDP if a member of a single market as compared to leaving it. British government leaders may be overestimating the willingness of leaders of France, Germany and other countries to make concessions. By talking up to their party base politicians such as May may be putting German and French leaders to also toughen their positions on free movement as an integral principle of the European Union, and consequently of membership in a single market. ...
The New York Times Original article ›
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Barnaby Joyce, Australia's deputy prime minister is a New Zealander by descent. Australia's foreign minister, Julie Bishop, says New Zealand's Labour Party revealed this information to undermine the government, that it was contacted by the Australian Labour party which is the opposition in parliament. The Australian constitution does not allow a dual citizen to be member of parliament. If Joyce steps down the Australian government of Malcolm Turnbull could lose its one seat majority in parliament. 

Wall Street Journal Original article ›
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Since 2002 when the AKP came to power consumer loans have surged from 2 billion Turkish lira to 129 billion lira or $81.55 billion. While this has created a larger middle class, the huge expansion of credit puts the economy at risk say analysts. Turkey is taking in imports at a rapid rate and the current account deficit is now 8.1% of GDP. The ratio of the current aaccount deficit to foreign exchange transactions is at 37%, according to Ankara based economic research foundation Tepav. This is significantly above the level reached before Turkey's last four economic crashes. The EU is Turkey's biggest market for exports, and the fastest growing market is the Middle East. With the economic growth sluggish in both regions the prospects for Turkish exports increasing is weak. Signs of excess are visible in Istanbul. A shopping mall for cars is being built the size of three sports stadiums with a test track on the roof called Autopia. Prime minister Erdogan talks about building a huge new shipping canal that would bypass the crowded shipping in the Bosporus. And the elections are being fought for the AKP to get more than 330 seats out of 550 in parliament, which would enable the AKP to change the constitution. This will be an unneeded distraction for the country at a time when economic policy needs a sharp focus to reduce the current account deficit before it is too late....
WSJ Original article ›
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In the end only concerted pressure from the U.S. including the personal intervention of president Trump, calls from Republican senators to Prince Abdulaziz, Saudi energy minister, salvaged a deal for OPEC+ oil cuts. The Saudis insisted Mexico cut production by 300,000 barrels a day, Mexico stood firm at 100,000 barrels a day. As the Mexican energy negotiator Ms Nahle withdrew to call Mexican president Lopez Obrador, the Saudi energy minister called this "disrespectful." Then president Trump intervened with calls and offered to make up with additional 300,000 barrels a day of cuts from the U.S. North Dakota senator called Prince Abdulaziz and stated that it could affect the U.S.-Saudi relationship if the Saudis did not come to an agreement. The agreement is for 23 countries to in total withdraw 9.7 billion barrels a day from the market, or 13% of world production. Oil production is expected to fall by as much as 30 million barrels a day in April 2020 as a result of the pandemic so it is not clear how much this will raise oil prices, yet it averts a complete collapse of oil prices from the $22 today when markets open on Monday April 13, 2020.  The U.S. Canada, Brazil and G20 countries outside OPEC will make a combined 3.7 million barrels a day in cuts. Saudis, Kuwait and United Arab Emirates combined will cut 2 million barrels a day above their quota.  In addition to warning both sides Saudis and Russia to come to an agreement, president Trump threatened to retaliate to protect U.S. producers from very low oil prices sending many into bankruptcy. Prince Abdulaziz took a tough stand with Mexico and other OPEC countries to present a unified stand. He is the son of the Saudi king and took the energy ministry in fall 2019. He has had difficulty in managing OPEC plus Russia called OPEC+ as its new chief with divergent views from small producers such as Angola and large producers such as Russia. At a conference in February he continued the standoff with Russia saying Russia would regret not making the production cuts he was calling for. The split with Russia after a 3 year collaboration for cuts ended in an all out price war right in the middle of a pandemic.  The Russians underestimated the size and impact of the pandemic. The Saudis took a firm position. Only president Trump's swift and active intervention and offering to make up Mexico's share of cuts saved the day for all oil producing countries, who would all be severely hurt by sinking oil prices below $20 a barrel.     ...

The A team

Economist Original article ›
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Abe's new team in Japan. Yasuhisa Shiozaki one of the more aggressive appointments signalling change balanced by appointments of older men from his faction in the LDP. Hiroko Ota, a protege of Mr. Takenanka becomes economy minister in charge of the council on Economic and Fiscal Policy. Aso continues as foreign minister and will try to smooth Japan-China relations.

The Spirit of Enterprise

New York Times Original article ›
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At the height of the Eurozone crisis in December 2011, David Brooks points out that it is important not to forget what the Germans are saying in this crisis. They are arguing for truth in accounting, which the government in Greece failed to do, and which may have more to do with negative opinion in the media and with the public in Germany about Greece than any other factor. They are arguing against speculative excesses that enabled Greece to borrow recklessly. And they are making the argument that the only way to put the finances of the eurozone on a sound basis is to have the financial discipline that is necessary for a sound currency. Anthony Faiola pointed out recently that one estimate for tax evasion in Italy is $340 billion a year- Washington Post, 11/25/2011. Greece has a similiar problem, which needs to be addressed. This view has credibility and the backing of every principle of sound financial practices, irrespective of country or region. For ordinary Germans who have gone through years of wage restraint during the period of high unemployment, their attitude is captured in one German workers response to Greece's situation - when she said there are "poor children in Germany also." Years after reunification were a difficult experience for Germany, and left parts of the country still affected by the experience. The period of high unemployment is still a fresh memory, as the economic recovery is fairly recent. There is a feeling that the situation is precarious, depending on exports, as the 2009 downturn showed. These facts remain even when one considers the criticism levelled at Germany. Germany benefitted from the bubble in the economies of Southern Europe through surging exports- from a currency that was undervalued in relation to neighbors- because of the common currency. German banks lent heavily to Greece, Ireland, Italy, Spain, and Portugal, along with French and British banks, and bear responsibility for reckless lending and not doing due diligence for loans to Greece and other countries. Germany also carries the burden of memories of hyperinflation in the 1920's, and the sense along with France that partnership is necessary for peace in Europe. Germany's position on austerity measures also has one underlying weakness - if this leads to shrinking economies in southern Europe in the name of fianncial discipline, then the plan fails as tax revenues decline and budget deficits increase. Given this experience Germany faces the challenge of convincing neighbors of the need for good governance and sound spending practices for long term stability of the currency, even as it leads the effort for providing short term funding. In the short run this reaps criticism for Germany, including criticism for some members such as Greece having to leave the euro as a way to regain competitiveness and growth. Experts have suggested that this would be a better option for Greece than a shrinking economy after strong austerity measures, and the referendum proposed by former prime minister Papandreou on strict austerity measures is likely to have gone in this direction. ...
Wall Street Journal Original article ›
BBC News Original article ›
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Indian prime minister Modi will meet president Biden at the White House for the Quad Summit bringing together the leaders of Australia, US, India and Japan. The Quad will initiate projects for vaccine with a billion vaccines planned to be manufactured in India for distribution in Asia, and for infrastructure projects in Asia.

New York Times Original article ›
Wall Street Journal Original article ›
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The bubble in Canada's real estate market reached its peak in 2011-2012. The average price of a home in Vancouver reached a high of C$815,252 in April 2011, before declining to C$721,958 in Sept. 2012, according to the Canadian Real Estate Association, Average prices nationwide in Canada were at C$372,544. Prices are being pushed up by buyers from China. Canada is taking steps to restrain the bubble by changing immigration rules. The immigration minister temporarily froze the Federal Skilled Worker Program and the Immigrant Investor Program. Under the latter program citizenship was given in five years to qualified immigrants investing over C$800,000 in Canada. Other measures include cutting the mortgage amortization to 25 years from 30 years, and reducing the amount of home equity Canadians can borrow against from 85% to 80%. Home sales in Vancouver declined 33% in Sept 2012 over prior year and listings increased 14%. The moves are modest because real estate agents see it as a pause in the bidding wars that were taking place, and the market remains overinflated....
Wall Street Journal Original article ›
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Former prime minister Nawaz Sharif's PML-N party wins 125 of 269 seats in Pakistan's parliament. The Tehreek-e-Insaf party of Imran Khan won 31 seats and the PML-N party of the current president Asif Zardari won 32 seats mostly in Sindh province. Independents won 31 seats and some of these independents are likely to support Sharif in forming a new government. Election turnout of 60% showed a large degree of enthusiasm in this election and hopes for economic revival in Pakistan. The focus of Sharif will be on improving the economy, tackling electricity shortages, and building infrastructure. Sharif promised to pursue peaceful relations with India and Afghanistan, and keep the focus on the economy. Sharif and his advisers are bringing a new deftness in the dealings with the Army, the Pakistan Taliban, saying he would call for a halting of drone strikes, limiting the role the U.S. plays in the region, both positions popular in Pakistan, separating differences with former president Musharraf from the institutional role of the military. Small business owners and large business support Sharif's efforts to tackle electricity shortages, with an estimated loss of $12 billion in idled factories alone. The long period of political conflicts between the military, the judiciary and the political parties have led to neglect of Pakistan's economy, as neighboring countries in Asia surged ahead. The realization that popular pressure for improving standards of living and the economic opportunities are both huge has led to an extraordinary election, and put Sharif at the centre of an important new beginning for Pakistan. ...
Wall Street Journal Original article ›
Washington Post Original article ›
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Questions are being raised about the lack of fairness in the cuts imposed in Greece - and the IMF acknowledges this- where the minimum wage was cut by 22%, but the most highly paid civil servants had their salaries cut by 10%. Germany's finance minister Wolfgang Schauble told the German daily newspaper Der Tagesspiegel: "I really feel for the people of Greece. The vast majority now hard-hit by reform and austerity measures... can do nothing about the backup in reforms, the loss of competitiveness and the unproductive use of funds in the past." In Greece there is a separate wage scale for the highly paid public sector employees such as doctors, diplomats, professors, and uniformed personnel in the military and police. This is different from what the ministry bureaucrats, hospital support staff and local government administrators get paid. This group took only a 10% cut, even though it makes up one third of the payroll according to IMF and EU estimates. The cuts to the minimum wage were made to improve Greece's competitiveness and because in Greece during the last decade wages went up much higher compared to Germany. Brian Carney pointed out in a Journal article Feb. 14, 2012, that nominal private sector labor costs went up by 62% in Greece from 2000-2008 compared to 15% in Germany. Showing the nature of the fight to make the cuts more equitable, is the resistance to the IMF-EU insistence on cuts to the highest pensions which amounted to $178 million. In the end prime minister Papademos said the monthly pension of $1975 was reduced by $32 or 1.6%. The lack of fairness creates more uncertainty about the cuts as elections are expected in April, only 7-8 weeks from now, and fears that this may not hold when a new government is elected. For this reason the IMF-EU officials are considering putting the $170 billion bailout money in an escrow account....
The Times Original article ›
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As the old rules are being rewritten or changed there is considerable ambiguity about the new nuclear rules for India and Pakistan, says The Times. This happens as Mr. Trump is distracted by the international problems such as North Korea and Venezuela and the Mueller probe into Trump and the election of 2016, and as UK prime minister May is distracted by Brexit. 


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