Wednesday, April 27, 2005


National politics v Global economics

The continuity of energy supply is likely to be big worry at the G8. Popular angst that the lights will go out, never mind prices rise, is putting heavy pressure on governments worldwide to do something.

What action can be taken? The issue might rise to the top of the agenda of the G8, but what then? Diversification of supply to nuclear is one temporary solution gathering support.

Pressure on national politicians can lead them to explore the traditional boundaries of unenforceable international rules. For example, word from Ecuador is that the new president is thinking about his options for winning popularity - one is to withhold the service of foreign debt and use the money instead for social programmes nationally. Such are the national pressures on politicians.

It is doubtful whether the G8 can solve the conflict of national politics versus global economics.
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