Wednesday, April 7, 2010

It was an epoch of reform

So then, what important did we have in the last 10 days?

Well, pretty much, buddies. A whole new deluge of ground-breaking agreements and policies from around the world waded their ways through the hoops.

And here’s a glimpse of the most important ones:

1.) Obama’s Health-care reform:
Widely touted as the ‘OBAMA-CARE’, this bill has eventually been passed by the US parliament after remaining in the blue for almost a year. And guess what, Obama is all smiles, beaming, laughing his fat arse out.

For those who don’t already know, Obama’s Democratic Party had lost its 3/5th majority some months back and that had marked the beginning of Obama-Woes. Number of democrats had been reduced to 59 (Pity! Just 1 short of Obama’s majority number, and that was all to preclude Obama’s regime from being filibuster-proof.)

Obama then adopted other measures for passing the bill that were hailed as controversial by the Republicans, who seemed to forget though that they had also used them.

Whatever be the scenarios now, it seems that, at least now, most of the US citizens are against this massive overhaul. Concerns also do the rounds now about the bill’s pro or con effects on the US economy.

2.) Greek bail-out package confirmed:
However much might Papandreou have been blamed for his austerity measures by his own countrymen, at least the European Commission now has a soft side for him. I ain’t sayin’ that, the Greek bail-out package is.

After much ado about ‘something’, Euro-Members finally accepted the proposal to raise funds for a ‘desperately-needed’ Greek bail-out, albeit with Mrs. Angela’s lambasting and provisos.

As per ‘her’ norms, Greece would be allowed a bail-out package only after it’s been confirmed that its markets cannot do so on their own. And even more. The majority of the funding would come through the IMF to keep a prying eye on the effective deployment of the financial aid.

Interest rates would also be high to ensure a hasty retrieval of the money out of Greece. Germany was however against this very concept of bailing Greece out and had to bear the criticism of the rest of the members for being so harsh.

It’s noteworthy, here, that some analysts believe German surpluses are one of the responsible factors for Greek deficits.

3.) America-Russia strategic arms reduction treaty in Prague:
The two world-powers will be signing this widely lauded treaty to reduce their arsenal. This would be a landmark achievement and both the nations think that this would set a fine exemplar for other nations bent on armament.

Also remarkable was the USA’s approval to change the site of the installation of the European Missile Shield project. This has ended its face-off with Russia at least pro-tem.

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