Euro zone unemployment rate reaches a record high of 12.1%
Euro zone jobless rate at 12.1 per cent in May with some 19 million people out of work across the region
Euro zone unemployment is at a record high according to new statistics from Eurostat, while inflation is also on the rise, with consumer prices being driven upward by volatile energy and food prices, underlining the fragility of the bloc’s economic health.
Inflation in the 17-nation euro zone, which is suffering from its longest ever recession, increased to 1.6 per cent year-on-year in June from 1.4 per cent in May, the EU’s statistics office Eurostat said. Joblessness in the bloc stood at a record 12.1 per cent in May, up from 12.0 per cent in April, with the number of people out of work rising further above 19 million, Eurostat added.
Latest figures for Ireland show that the unemployment rate was 13.7 per cent in May, unchanged from April.
Government austerity programs across the continent have helped fuel the economic hardship and provoked widespread public discontent, especially with more than half of young people unemployed in Greece and Spain. June’s inflation reading was the second upward move from a three-year low of 1.2 per cent in April, although it remains beneath the European Central Bank’s target of just under 2 per cent. Economists expect inflation to remain below the target for the rest of this year, giving the ECB scope to leave interest rates at a record low, although signs of improvement at European factories may stop the bank from cutting rates again.
“June’s rise was driven rather by unfavourable base effects and the ECB has flagged the possibility of short-tern inflation volatility,” said Nick Matthews, a senior European economist at Nomura. “We expect inflation to drop sharply again in summer.” Prices of food, alcohol and tobacco products were the key factor driving inflation in June, followed by energy and services, Eurostat said in its first estimate for the month. Core inflation, which strips out volatile food and energy prices, was stable at 1.2 percent, and did not appear to sustain an upward trend, economists said.
The ECB said last week it will keep its accommodative monetary policy stance to help a gradual economic recovery that is expected to start in the second half of this year. “The low inflation rate will permit the ECB to leave interest rates at very low levels for a long time,” said Christoph Weil, an economist at Commerzbank, who expects the bank to start increasing rates at the end of next year.
The days of church control in Ireland are over says Eamon Gilmore
Tánaiste Eamon Gilmore has said that the days when one church “determined the boundaries of women’s lives” are over.
He also said that abortion legislation falls short in areas such as rape cases and fatal foetal abnormalities.
Minister Gilmore said that it is setting out the law as defined by the Supreme Court – and not by the Catholic church.
“This country and this Government is not going back to the days when one church determined the boundaries of women’s lives, when one church controlled the most intimate details of people’s private lives, when one church held sway over the kind of maternity care women could receive in our hospitals with devastating results.
“THOSE DAYS ARE now OVER.”
Fujitsu annouce new Research to assist Independent Living for the elderly
Fujitsu have announced an exciting new research project that will build on the successful programmes of life logging and falls risk identification research in the CLARITY and TRIL research centres to deliver a ground-breaking programme of collaborative research that will deliver a novel falls risk management platform.
The KIDUKU project is being carried out in collaboration between researchers from CLARITY and TRIL, now working together in INSIGHT, and the CASALA research group in DKIT, to explore ways to assist independent living in an aging society through ICT. The project will commence in July 2013 in Ireland, will last for three years and will be run under the guidance of Prof. Alan Smeaton (CLARITY), Prof. Brian Caulfield (TRIL/CLARITY) and Dr. Cathal Guerrin (CLARITY Collaborator).
Over the course of the project, researchers will use a range of sensors to monitor patients’ daily lives, in addition to bringing the expertise of independent living support specialists together with data visualization and analysis technologies. As a result, the project aims to develop a system that supports independent living through health management and ICT, as well as solutions for seniors and patients that participate in this system.
The research will help seniors and patients follow up with illnesses and support with appropriate treatment regimens. In addition, by streamlining the sharing of information among senior citizens and patients and their family members, primary physicians, and specialists, the project aims to leverage ICT to support the lives of people in an aging society.
Sensors affixed to the clothing of senior citizens and patients living in smart houses, in situations such as when at home or outdoors, and sensors embedded in the home and surrounding environment will be used to collect various data, including physiological, psychological, physical, and social information.
By bringing the insights of independent living support specialists together with data visualization and analysis technologies, the project aims to develop a system that supports independent living through health management and ICT, as well assolutions for seniors and patients that employ this system. Using the system to help monitor senior citizens and patients will make it possible to monitor illnesses while helping them to follow appropriate treatment regimens. It will also make it easy for information to be shared among senior citizens and patients and their family members, primary physicians and specialists. Research will be conducted for several kinds of medical scenarios, including fall prevention and chronic lung disease.
The project’s name, KIDUKU, captures the essence of two Japanese words, both pronounced “kiduku,” with the first meaning “to be aware” and the second, “to construct.” The idea of being aware has to do with the ability to observe changes in different conditions, such as an individual’s health, which can lead to changes in behaviour and the offering of new support services. For this purpose, the project aims to “construct” a knowledge platform that provides services to help senior citizens and patients gain a heightened sense of awareness. The project also seeks to build senior citizen-oriented solutions that employ this system and are useful in everyday life. By collaborating with the three research institutions in Ireland on this project, and by gaining the cooperation of senior citizens and patients, Fujitsu is seeking to build a closer relationship between Ireland and Japan.
New Irish credit union governance rules to be implemented in October
Minister for Finance Michael Noonan has published an implementation plan for reform of the credit union sector
Outstanding measures under the Credit Union and Co-operation with Overseas Regulators Act 2012 will be implemented over the coming year.
The Department of Finance today published the implementation plan for all outstanding sections of the Credit Union and Co-operation with Overseas Regulators Act 2012.
The Act, which was signed into law last December, provides for major reforms in the credit union sector, including allowing a process of amalgamations and transfers to be undertaken on a voluntary, incentivised and time-bound basis and overseen by the Restructuring Board or ‘ReBo’. The Act also clears the way for €250 million to be contributed by the Government to the Credit Union Fund created under the legislation. This funding is to be used to support the restructuring process and underpin the stability of the credit union sector.
While implementation of a number of sections has already commenced, mainly in relation to restructuring and stabilisation, the Minister for Finance Michael Noonan today released the following the commencement dates for outstanding sections of the Act.
August 1st, 2013 – commencement of various standalone sections, including the measures allowing credit unions the right to appeal certain decisions of the Central Bank to IFSAT, administrative sanctions, and the disapplication of certain banking legislation to credit unions.
October 1st, 2013 – commencement of sections mainly in relation to new governance and prudential requirements for credit unions. These include sections 15 to 27 which relate to the roles and responsibilities of those in key positions in credit unions including the board of directors, chair, manager, board committees, credit officer and credit control officer and board oversight committee. These also include requirements relating to risk management, compliance and internal audit.
March 3rd, 2014 – commencement of parts of sections 15, 24 and 27 which were not commenced in October 2013 and include reduction in board numbers from 15 to 11, the submission by a credit union of an annual compliance statement to the bank and procedural provisions of the board oversight committee. Commencing these measures in March 2014 will allow sufficient time for credit unions to implement these measures.
Q2 2014 – commencement of other prudential measures will begin in Q2 2014, allowing for meaningful consultation between the Central Bank and credit unions prior to implementation. These measures will amend existing provisions in relation to savings, borrowing, lending, investments, reserves and liquidity
Also today, the Central Bank published a handbook which will assist credit unions by bringing a number of legal and regulatory requirements and guidance that apply to credit unions together in one place
Cigarette packets that TALK to smokers when they are opened are now on trial
RESEARCHERS WERE INSPIRED BY TOBACCO COMPANIES WHO HAVE BEEN MAKING PACKAGING MORE ATTRACTIVE FOR CONSUMERS
Cigarette packets that TALK could soon join the fight to browbeat smokers into quitting their unhealthy habit.
Researchers were inspired by tobacco companies who have been making packaging more attractive for consumers.
They wanted to see if similar tactics could work against the companies and encourage people to give up the habit, rather than keep buying.
Stirling University have been testing the devices on young women, and are about to open this up to include older age groups and men.
The researchers from the university’s Centre for Tobacco Control Research created two talking packets with different recorded messages.
One offered smokers a phone number for advice on quitting smoking and another warned that smoking reduces fertility.
The packets use similar technology to singing birthday cards were a message plays when the lid is opened.
The packs are fitted with a voice recording and playback unit so that the message will be replayed whenever the packet is opened.
The device was initially tested on women between the ages of 16 and 24, as this remains one of the groups with high smoking rates.
Volunteers said that they found the messages about fertility “hard-hitting” and “off-putting.”
Girls aged 16-17 in particular said that it would make them think about quitting.
However, other volunteer said that the messages could lead them to quitting or cutting back simply because they were so annoying.
One woman said: “Some people would maybe say I need to pack that in because the packets are doing my nut in.”
Researcher Crawford Moodie, one of the researchers, said: “It is possible in the future we may see packs that play music or talk, so we wanted to see if that could be used for our purposes..”
Any changes to packaging would require new legislation to force companies into using them. However, campaigners have welcomed the idea.
Sheila Duffy, chief executive of ASH (Action on Smoking and Health) Scotland said: “The tobacco industry buys a great deal of creative expertise to market its addictive and lethal products to new consumers, mainly young people.
“I welcome the suggestion that we get more creative to put forward images of good health and freedom from addiction as alternatives to tobacco, and that we start requiring tobacco companies to present the truth to their consumers in more eye-catching ways.”
Carbon from nuclear tests could help fight Animal poachers
Poaching is now at the highest it has been for two decades, according to conservation groups, the atmospheric carbon left over from nuclear bomb testing could help scientists track poached ivory, new research has found.
These bomb tests changed the level of carbon in the atmosphere, which can be traced to date elephant tusks.
Trafficking poached ivory is increasingly being used to fund civil wars, groups warn.
Scientists say the findings, could make it easier to enforce the ivory ban.
The number of elephants being poached is now at the highest it has been for two decades, according to a UN backed report.
This was highlighted in January when a family of11 elephants was slaughtered in Kenya , their tusks hacked off with machetes.
In the 1980s, more than half of Africa’s elephants are thought to have been wiped out by poachers. This led to an international ban on trading ivory in 1989. As public awareness of the threat of extinction increased, the global demand for ivory dwindled.
But today conservationists believe that a growing demand for ivory in China and other Asian countries is responsible for a huge increase in the number of animals being poached.
Many governments have huge stockpiles of ivory, and it is often unclear when this ivory was acquired and whether or not some of it is leaking into the illegal market.
The bomb-curve: Now scientists have found that radioactive carbon in the atmosphere emitted during the Cold War bomb tests will make it easier to distinguish between illegal ivory to that which was acquired before the trade ban.
The amount of radiocarbon in the atmosphere nearly doubled during nuclear weapons tests from 1952 to 1962, which steadily dropped after tests were restricted to underground. This has been dubbed “the bomb-curve”.
The levels have declined since but as they are still absorbed by plant, they enter the food chain and are measurable in plant and animal tissues.
The concentration of radiocarbon found in tiny samples of animal tissue can accurately determine the year of an animals death, from 1955 until today, Kevin Uno from Colombia University, US, explained to BBC News.
“This is different to the traditional dating technique which takes advantage of the loss of radiocarbon through time.”
Traditional radiocarbon dating would only be able to pick up an “imperceptible amount of decay” added Dr Uno, but because the bomb spike doubled the concentration or carbon, they were able to find huge variations over the last 60 years, which enabled accurate dating.
These wildlife forensics are ready to roll, now we need to speak to people who can set up a programme to make it happen”
Dr Uno said this technique “would dovetail very nicely with DNA testing which tells you the region of origin, but not the date”.
As anti-poaching funding is extremely limited, understanding where the poaching hotspots are, as well as how old the tusks are, could help the international community to direct funding to the places most at risk, he added.
“The year an elephant died plays a big role in whether or not the trade [of ivory] is legal. Poached ivory makes it to market relatively quickly, so by measuring the age of a tusk we can say what year it’s from. This will help us pinpoint the source of the ivory and how it’s getting to market.”
Big government organisations like the UN and Interpol have also recently increased efforts looking into the problem.
“Saving elephants – majestic and wonderful species – is priceless. These wildlife forensics are ready to roll, now we need to speak to the organisations who can set up a programme to make it happen.”
Organised criminal gangs
Poaching is a problem closely linked to poverty, politics and conflict. Poachers include poor opportunistic individuals and increasingly heavily armed militia groups who use ivory to fund conflicts.
WWF’s regional East Africa manager Drew McVey welcomed the new research, and said any help in securing convictions could reduce ivory trafficking.
“The key thing to note is that ivory has been smuggled so far and wide, we’ve got to cut down the loopholes as much as we can. Though the amount of seizures [of illegal ivory] is increasing each year, we don’t know how much we’re catching, it’s realistic to think we’re not catching all the big ones.”
He added that poaching is not easy to prevent as “one thing Africa isn’t short of is poor people” which is why it’s important to cut down the ways people are moving ivory around.
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