Independent Research

Greek debt deal sends world shares higher

(Reuters) - European shares climbed to near a three-week high and safe haven German bonds fell on Tuesday, after global lenders agreed to reduce Greek debt and release loans to keep the economy afloat.

After 12 hours of talks, they decided steps to cut Greek debt to 124 percent of gross domestic product by 2020, and promised further measures to lower it below 110 percent in 2022.

Following months of jockeying, the deal was broadly expected by markets and clears the way for Greece's euro zone neighbors and the International Monetary Fund (IMF) to disburse almost 35 billion euros of aid next month.

European shares on the FTSEurofirst 300 index finance/markets/index?symbol=gb%21FTPP">.FTEU3

rose 0.5 percent following the deal, with London's FTSE 100 .FTSE, Paris's CAC-40 .FCHI and Frankfurt's DAX .GDAXI between 0.4 and 0.6 percent higher. .L.EU.N.

The MSCI index of global stocks .MIWD00000PUS was up 0.2 percent and U.S. futures prices pointed to a higher open on Wall Street when trading resumes.

"After three meetings this months and a total of more than 24 hours of discussing and negotiating, the euro zone countries have put their money where their mouth is," said ING economist Carsten Brzeski.

"The political will to reward the Greek austerity and reform measures has already been there for a while. Now, this political will has finally been supplemented by financial support."

On the currency markets, the euro hit $1.3010, its highest level since October 31, during Asian trading but lost momentum and was 0.3 percent down at $1.29445 by mid-morning in Europe.

"While the EU/IMF agreement on Greece is EUR-supportive, it was widely expected and hence the market reaction is likely to remain muted. We maintain our buy on dips strategy," Morgan Stanley's FX strategy team wrote in a note to clients.

Elsewhere the dollar was broadly flat against a basket of key currencies .DXY, while the yen slipped after Japan's opposition leader and likely next prime minister reiterated calls for bolder monetary and fiscal stimulus.

COMMODITIES UP

The Greek deal also helped commodity markets with copper rising to a near one month high of $7,791.50 a tonne and oil inching up 11 cents to $111.05 a barrel.

After an initial post-deal jump, gold <GOL/> steadied back at around $1,750 an ounce.

On the euro zone bond market, safe haven German government bonds fell, with benchmark Bunds down over 40 ticks at 142.00 compared with 142.43 at Monday's settlement. Ten year Greek yields remained near lows last seen when the country's debt was restructured in March.

"Bunds are falling simply because the market is relieved we have a deal now and the tail risk of a Greek accident has been taken out," said Michael Leister, a senior rate strategist at Commerzbank.

With doubts about Greece being able to hit its growth and debt cutting targets, few analysts expect the latest agreement to be the final chapter in the euro zone's three-year crisis.

Underscoring the concerns, the OECD slashed its global growth forecasts on Tuesday, saying the euro zone's troubles were the greatest threat to the world economy.

"(The Greek deal) is not the green light for a sustained rally for risk assets across the board. As we've seen before, once the market starts scrutinizing some of the details some doubts may well arise," added Commerzbank's Leister.

In Asian trading, MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS gained 0.6 percent to a near three-week high, led by a 1 percent advance in Korean shares .KS11 and a 0.7 percent rise in Australian shares .AXJO. Indian shares .BSESN also jumped 1.2 percent.

Shanghai shares .SSEC bucked the trend to fall 1 percent to their lowest since 2009, dragged by weakness in growth-sensitive companies.

Law and Civil Liberties

A new law can be proposed by Parliament or any MP or Lord. Before it is approved a proposal for a new law is called a bill, which has to be presented and explained before being passed on to the House of Commons and House of Lords. The two houses will discuss and usually agree with each other on whether they should approve it or not. If it is not approved, that is the end of the bill. If they approve it, it will be passed to the Monarchy where the queen will decide if she approves of it or not (which she usually does).

Civil liberties are the idea that you have freedom of speech, freedom of religion. This means you are allowed to have your own opinion and you don't have to be pressured by Parliament or pressure groups. (Human rights).

Does the law protect or restrict?
CCTV cameras - can protect us mainly as it can be used as evidence in court cases when you have been a victim to violence, which makes criminals think twice about committing crimes if they are aware there is a camera watching them.
ASBOs - restricts devious members of public from committing offences.
Mosquito Repellers - restricts young members of public from committing ASBO worthy offences.

Death Penalty

Death penalty is it right?

Cons: If the victim is not guilty then the punishment cannot be taken back, and an innocent death has been caused. Also, the person that committed murder may have a serious mental illness and need care rather than to be killed just as a form of justice. Also, killing someone for murder is just as bad as the crime they commit not resolving the issue and going against the right to live. The death penalty is more expensive to resolve than keeping someone in prison and this money should not be wasted on unworthy people especially when the outcome is death.

Pros: The system can be failing, as many of the convicts have a better and safer life in prison and this isn't really a high enough level of punishment. Also the death penalty would act as a deterrent and make crime figures decrease. Overall I am strongly against the death penalty and feel that it should not be legalised as the cons outweigh the pros by a mile.

Research 7

Australia joins death penalty opposition

AUSTRALIA is among a record 110 countries which have backed a resolution voted on every two years at a UN General Assembly committee calling for the abolition of the death penalty.

The vote tears apart traditional alliances at the United Nations. The United States, Japan, China, Iran, India, North Korea, Syria and Zimbabwe were among 39 countries to oppose the non-binding resolution in the assembly's rights committee. Thirty-six countries abstained.

Israel voted against its strong US-ally to join Australia, European Union nations, Brazil and South Africa among major countries backing the motion.

Norway, which played a leading role campaigning for the resolution, said on its Twitter account that the increased support was a "great result".

At the last vote in 2010, 107 countries backed the resolution.

France's new Socialist government has launched a campaign with other abolitionist states to get the full General Assembly to pass a resolution in December calling for a death penalty moratorium. Though such a resolution would be non-binding, diplomats say it would increase moral pressure.

A world congress against the death penalty is to be held in Madrid in June.

According to the United Nations, about 150 countries have either abolished capital punishment or have instituted a moratorium.

Amnesty International says that China executed "thousands" of prisoners in 2011 though exact figures are hard to determine. It says that other countries put to death at least 680 people with Iran, Iraq and Saudi Arabia major users of capital punishment.

Amnesty says that progress is slowly being made however. Even in the United States, Illinois last year became the 16th US state to abolish the death penalty.

Pros & Cons of the Death Penalty

• Pros:
• Financial costs to taxpayers of capital punishment is several times that of keeping someone in prison for life.
• It is barbaric and violates the "cruel and unusual" clause in the Bill of Rights.
• The endless appeals and required additional procedures clog our court system.
• We as a society have to move away from the "eye for an eye" revenge mentality if civilization is to advance.
• It sends the wrong message: why kill people who kill people to show killing is wrong.

Cons

• The death penalty gives closure to the victim's families who have suffered so much.
• It creates another form of crime deterrent.
• Justice is better served.
• Our justice system shows more sympathy for criminals than it does victims.
• It provides a deterrent for prisoners already serving a life sentence.

Religous beliefs and their effect on Society

republic - a state or country that is not led by a hereditary monarch, but in which the people (or at least a part of its people) have impact on its government. e.g Ireland

Dictatorship -   Absolute rule by leadership unrestricted by law, constitutions, or other social and political factors. e.g Zimbabwe

Democracy-   A form of government in which the supreme power is held completely by the people under a free electoral system. e.g. Spain

Absolute monarchy -  A monarchical form of government where the king and queen have absolute power over everything. e.g. Vatican

Constitutional monarchy -  A form of constitutional government, wherein either an elected or hereditary monarch is the head of state, unlike in an absolute monarchy, wherein the king or the queen is the sole source of political power, as he or she is not legally bound by the national constitution. e.g. UK

Secular government- A NON RELIGIOUS GOVERNMENT

non Secular government- A RELIGIOUS GOVERNMENT


problems with a secular government:

• moral/ethical issues in society as some people may be religious.
• cause conflict.
• difficult for religious people e.g. taxes, homosexuality 

difficulties with having more than one religion in a society:

• sharing land for places of worship.
• dieting rules
• conflict
• racism
• mixed marriages, could lead to honour killings. 

What is Sharia law?
is the moral code and religious law of Islam. Sharia deals with many topics addressed by secular law, including crime, politics, and economics, as well as personal matters such as sexual intercourse, hygiene, diet, prayer, and fasting.

Research 6

Mitt Romney's Welsh relatives await US election results

By Sam Marsden Last Updated: 11:32AM GMT 06/11/2012
The US presidential election is more about family than politics for the Welsh relations of Mitt Romney's wife.

Ann Romney, 63, is proud of her roots as the granddaughter of a Glamorgan coalminer and played up her working class origins on the campaign trail in an effort to counter accusations that her husband's vast wealth meant he did not understand ordinary voters' concerns.

She has made regular trips back to see her family in South Wales, most recently this summer, and they have taken a great personal interest from afar in the twists and turns of this year's election.

Jeffrey Smith, 65, a second cousin of Mrs Romney, will tonight for the first time in his life stay up to watch the results from the American poll come in.

He stressed that he did not want to pronounce an opinion on US politics but said he would be proud for a member of his family to enter the White House.

"I'm not taking sides. It's not my country – it's not fair to comment on somebody else's politics. But I would like to see him get in for Ann's sake," he said.

"I did follow it four years ago, but when he dropped out and didn't get the nomination my interest did tend to wane a bit. I have followed it with intensity this year because of the family connection." Mr Smith, a semi-retired tax adviser from Llangynwyd, South Wales, last saw Mrs Romney in early August when she attended a family tea party hosted by another second cousin, Roddy Evans, 77, a former Wales and British Lions rugby player, at his home in the seaside resort of Porthcawl.

"Not a political tea party like they have in the States," he joked.

Mrs Romney was able to visit Wales this summer without a security entourage, but she spoke at the three-hour gathering of how her life would change if she became America's First Lady.

Mr Smith recalled: "She said her private life would be dominated by security – she wouldn't be able to do certain things, she would have so many people around her.

"He would be regarded as the most powerful man in the world, so security goes hand in hand with that." Mrs Romney's grandfather, David Davies, lost a kidney in a mining accident and left the village of Nantyffyllon, near Bridgend, during the Great Depression in around 1929 to build a better life in America with his wife Annie and their children.

She has maintained ties with her heritage, serving homemade Welsh cakes to journalists following her husband's election campaign and even speaking a few words of Welsh that her grandmother taught her.

Mr Smith agreed it would be incredible for the granddaughter of a coalminer who lived in a two-up, two-down house in Nantyffyllon to end up as America's First Lady.

He added: "I can't see how it's going to have any effect on us in Wales, but it will be nice to know that a relative is in the White House." There is rather less enthusiasm for the US election among the British relations of Mr Romney, 65, whose great-great-grandfather, Miles Romney, was born in Dalton-in-Furness in present-day Cumbria in 1806, became a Mormon in Preston in the late 1830s, and sailed with his family to America in 1841.

Mr Romney's fourth cousin twice removed, Maria Nash, 32, who lives in Preston, suggested that Barack Obama would make a better president, adding: "If Romney does get in, I wonder how long it will be before he makes a mess of it." Her husband Simon Nash, 54, said: "He's not really our politics. We're normal Lancashire folk – we just want everything fair for everyone. He's not visited any of the family. He hasn't stepped foot out of London.

The relationship betweenpolitics, religion and science

The Relationship Between Politics, Religion and Science