New financial regulations will harm households and small businesses

The financial sector breathed a sigh of relief this week as the Basel Committee’s recommendations for new rules on banking regulations were announced; stock markets around the world rallied. Rules on the amount of capital banks must hold to cover risk – and the extent to which reserves must be liquid – are less stringent than expected.

Four Cheers for the Government’s failure to stop Illegal Timber!!!

This week the Government are holding a drinks party to congratulate themselves on the new European Union directive on illegal timber. The directive is five years late. It is toothless and it fails to achieve the objective of putting an end to this trade that costs developing countries up to $15 billion each year.

Dissidents hid cameras at MI5 base

The army have uncovered a sophisticated spying operation on the secret service by the dissident republican group, Oglaigh na Heireann. According to the Belfast Telegraph, members of the organisation planted digital cameras in woodland bordering MI5’s base in Northern Ireland, Palace Barracks.