Over Easy

In tribute to Southern Dragon’s Lakeside Diner, today we review news and media from outside the U.S.

The revolving governments in Egypt arrested Brotherhood leader Badie, who refused to take a transitional cabinet position.    Meanwhile reports filtered out about U.S. funding of deposed PM Morsi’s opponents.

Documents obtained by the Investigative Reporting Program at UC Berkeley show the US channeled funding through a State Department programme to promote democracy in the Middle East region. This programme vigorously supported activists and politicians who have fomented unrest in Egypt, after autocratic president Hosni Mubarak was ousted in a popular uprising in February 2011.

The State Department’s programme, dubbed by US officials as a “democracy assistance” initiative, is part of a wider Obama administration effort to try to stop the retreat of pro-Washington secularists, and to win back influence in Arab Spring countries that saw the rise of Islamists, who largely oppose US interests in the Middle East.

Abortion issues gained a questionable proponent in Chile’s Pinera, who called an 11-year-old who complied with law by refusing an abortion, ‘brave and mature’.

Mr Pinera supports Chile’s abortion laws, which outlaw the practice in all circumstances. His critics want it legalised in cases of rape, and want the girl to be allowed an abortion.

The 11-year-old girl appeared in a TV interview on Monday, saying: “I’m going to love the baby very much, even though it comes from that man who hurt me.

The IMF lowered its prediction of global economic growth in the face of the U.S. Fed’s intention to end stimulus measures.

“Emerging-market economies have generally been hit hardest,” the Fund said in its update of the WEO report.

The expected US Federal Reserve’s unwinding of its massive monetary policy stimulus could trigger sustained capital outflows from emerging-markets, the IMF warned.

(snip)

It called on advanced economies to take additional measures to bolster their defences, citing the need for the United States to not let politics interfere with a timely, necessary increase in its official borrowing ceiling to avoid a spending crunch.

It also said euro area governments need to “do what it takes” to bring back growth and reverse “financial fragmentation.”

Minutes of the Fed’s most recent minutes indicate that an acknowledgement of reality is happening, and the stimulus will continue.

Never.Give.Up.