Infinite Unknown

(Dmitry Astahov/AFP/Getty Images)

Vladimir Putin reportedly wanted to hang President Saakashvili “like the Americans hanged Saddam”

Nicolas Sarkozy saved the President of Georgia from being hanged “by the balls” - a threat made last summer by Vladimir Putin, according to an account that emerged yesterday from the Élysée Palace.

The Russian Prime Minister had revealed his plans for disposing of Mr Saakashvili when Mr Sarkozy was in Moscow in August to broker a ceasefire in Georgia.

Jean-David Levitte, Mr Sarkozy’s chief diplomatic adviser, reported the exchange in a news magazine before an EU-Russia summit today. The meeting will be chaired by the French leader and President Medvedev.

With Russian tanks only 30 miles from Tbilisi on August 12, Mr Sarkozy told Mr Putin that the world would not accept the overthrow of Georgia’s Government. According to Mr Levitte, the Russian seemed unconcerned by international reaction. “I am going to hang Saakashvili by the balls,” Mr Putin declared.

Mr Sarkozy thought he had misheard. “Hang him?” - he asked. “Why not?” Mr Putin replied. “The Americans hanged Saddam Hussein.”

Mr Sarkozy, using the familiar tu, tried to reason with him: “Yes but do you want to end up like [President] Bush?” Mr Putin was briefly lost for words, then said: “Ah - you have scored a point there.”

Mr Saakashvili, who was in Paris to meet Mr Sarkozy yesterday, laughed nervously when a French radio station read him the exchange. “I knew about this scene, but not all the details. It’s funny, all the same,” he said.

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Tags: France, Georgia, Government, Mikhail Saakashvili, Nicolas Sarkozy, Politics, Russia, Vladimir Putin

The French state has threatened to seize control of the country’s banks and fire top staff unless they do their part to stabilise the economy by stepping up lending to companies in need.

“The banks have got to open up credit to business: they have the means to do it,” said prime minister Francois Fillon, accusing lenders of hoarding cash. “We don’t think the banks are stepping up to task as necessary. We can withdraw the credit that we have extended to them under the state’s contract with the banks, and that will put them in difficulty. At that moment the question arises whether we should take an equity stake, change their managers, and assume control over their strategy.”

Speaking on French television, he warned: “Broadly speaking, we’ll be able to judge over the next 10 days whether they are playing the game as they should, or not.”

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Tags: Banks, Commerzbank, Credit Crisis, credit crunch, Economy, France, Government, Hypo Real Estate, IMF, mortgage crisis, Mortgages, Politics

U.S. Admiral Mike Mullen, chairman of the Joint Chiefs of Staff, and top military commanders from four nations - Britain, France, Germany and Italy - flew into the Adirondack Regional Airport in Lake Clear this weekend aboard the jumbo jet that is used as Air Force 2 when the vice president is aboard. The group of powerful military leaders met in Lake Placid to discuss mutual security issues, including Afghanistan. Photo: Larry Miller

Chairman of Joint Chiefs of Staff and military leaders from several countries discuss Afghanistan and other issues.

LAKE PLACID - Some of the most powerful military commanders in the world met in Lake Placid over the weekend.

Speculation was rife after a C-32, the military equivalent to a Boeing 757 airliner, touched down Friday at the Adirondack Regional Airport in Lake Clear.

The 155-foot-long jumbo jet, which is used as Air Force 2 when the vice president is aboard, was emblazoned with “United States of America” on the side and parked on the eastern edge of the airport.

“I was contacted by the Department of Defense approximately a month ago, and they indicated they had some foreign dignitaries that they wanted to bring in through the airport,” said Ross Dubarry, the airport’s manager.

Following the landing, a motorcade led by State Police rushed Admiral Mike Mullen, chairman of the Joint Chiefs of Staff, and top military commanders from four nations - Britain, France, Germany and Italy - to a resort in Lake Placid.

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Tags: Afghanistan, Air Force, Defense Department, France, Germany, Government, Italy, Joint Chiefs of Staff, Michael Mullen, Military, NATO, Politics, U.K., U.S.

Paris will quadruple the number of closed-circuit police cameras in its streets by the end of next year, after President Nicolas Sarkozy’s promise to emulate London in an attempt to track crime and terrorism threats.

While the Paris metro and rail networks already operate around 9,500 CCTV devices, police have only 330 at their disposal to survey outside public areas. The new plan, dubbed “A Thousand Cameras for Paris”, will raise that number to more than 1,200 - with most installed in high-risk areas and outside railway and underground stations.

The figure is still small compared with London, where each citizen is caught on average several hundred times a day. Britain has about four million closed-circuit security cameras compared with France’s 340,000.

The CCTV drive follows Mr Sarkozy’s pledge last autumn to follow London’s surveillance lead. “I am very impressed by the efficiency of the British police thanks to this network of cameras,” the French president said. “In my mind, there is no contradiction between respecting individual freedoms and the installation of cameras to protect everyone’s security.”

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Tags: Big Brother, CCTV, civil liberties, France, George Orwell, Government, New World Order, Police State, Politics, Privacy, Surveillance, surveillance cameras, U.K., video surveillance

Major industrialised economies will suffer the worst slump since the 1930s, according to new research from Deutsche Bank.

Worst slump since Great Depression: Bud Fields and his family in their home during the Great Depression in Alabama, 1935. Photo: Corbis

The warning underlines the fact that policymakers have failed to prevent the financial crisis from turning into a full-blown economic slump. It comes as world leaders agreed to hold a summit in New York billed as the “Bretton Woods meeting for the 21st century”.

In its major assessment of the global economy’s health, Deutsche Bank also warned that Britain is even more vulnerable than the US or the euro area, as it predicted that the powerhouses of India and China would fail to support the wider global economy through the downturn.

The banks’ economists Thomas Mayer and Peter Hooper said: “We now expect a major recession for the world economy over the year ahead, with growth in the industrial countries falling to its lowest level since the Great Depression and global growth falling to 1.2pc, its lowest level since the severe downturn of the early 1980s.”

According to the International Monetary Fund, global growth of anything less than 3pc constitutes a world recession. The warning was echoed by Richard Berner of Morgan Stanley, who said: “A global recession is now under way, and risks are still pointed to the downside for commodity prices and earnings.”

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Tags: bailout, Canada, China, Depression, Deutsche Bank, Economy, Fed, Federal Reserve, France, George Bush, Germany, Government, IMF, India, Italy, Nicolas Sarkozy, Politics, Recession, Russia, U.K., U.N.

Stalin was ‘prepared to move more than a million Soviet troops to the German border to deter Hitler’s aggression just before the Second World War’

Papers which were kept secret for almost 70 years show that the Soviet Union proposed sending a powerful military force in an effort to entice Britain and France into an anti-Nazi alliance.

Such an agreement could have changed the course of 20th century history, preventing Hitler’s pact with Stalin which gave him free rein to go to war with Germany’s other neighbours.

The offer of a military force to help contain Hitler was made by a senior Soviet military delegation at a Kremlin meeting with senior British and French officers, two weeks before war broke out in 1939.

The new documents, copies of which have been seen by The Sunday Telegraph, show the vast numbers of infantry, artillery and airborne forces which Stalin’s generals said could be dispatched, if Polish objections to the Red Army crossing its territory could first be overcome.

But the British and French side - briefed by their governments to talk, but not authorised to commit to binding deals - did not respond to the Soviet offer, made on August 15, 1939. Instead, Stalin turned to Germany, signing the notorious non-aggression treaty with Hitler barely a week later.

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Tags: Adolf Hitler, France, Government, History, Joseph Stalin, Military, Nazi Germany, Nazis, Poland, Politics, Russia, U.K., War

The official publication of the first intermediate results of the International Interphone Study from the International Research Centre on Cancer (CIRC) dependent on WHO confirms the increased tumors and cancer cases due to the use of mobile phone.

The Use Of Mobile Phone Is Carcinogenic: Here (PDF)

INTERPHONE Results latest update Oct. 08, 2008: Interphone Results Update (PDF)

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Tags: Australia, Brain, brain tumor, Canada, Cancer, Cell Phone, children, Denmark, Electrosmog, France, Germany, Health, Italy, Japan, Mobile Phone, Radiation, Science, Technology, Tumors, U.K., WHO

Christine Lagarde, the French finance minister, warned her US counterpart Hank Paulson that he had to bail out US investment bank Lehman Brothers or face global financial collapse, but her advice went unheeded.

Christine Lagarde, the French finance minister, warned her US counterpart Hank Paulson that he must bail out US investment bank Lehman Brothers or face global financial collapse, but her advice went unheeded. Photo: Reuters

Sources close to Mrs Lagarde said that she had called the US Treasury Secretary - a close personal friend - well before the ailing bank’s collapse imploring him to act, but he chose not to.

Lehman Brothers’ demise sparked the biggest shake-up on Wall Street in decades and sent shock waves around the world that triggered a massive bailout plan in Britain and Europe.

Mrs Lagarde - attributed with playing a key role in brokering a bailout deal among G7 finance ministers in Washington last weekend - dubbed Mr Paulson’s decision to let the bank go under “horrendous” as it triggered panic in markets and banks to the brink of a 1929-style financial meltdown.

In an interview with the Daily Telegraph, she warned that the world’s hedge funds could be the next institutions to be hit by the financial turmoil.

Mrs Lagarde, a perfect English speaker, said that governments must be “vigilant” over the health of hedge funds. “Initially everybody thought the hedge fund sector would be the first one to actually cause the collapse. They are vastly unregulated, they have been operating at the fringes, at the margin, and we need to be careful that there is no contamination effect,” she said.

Related articles:
- Hedge funds shake in the teeth of financial storm
- US hedge funds suffer heavy withdrawals

Her warning will send a shiver through the $2 trillion (£1.15billion) hedge fund industry, which has doubled in size in the last three years and proved to be one of the most powerful forces in the global financial system.

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Tags: bailout, Credit Crisis, credit crunch, Economy, EU, financial crisis, France, G7, Government, hedge funds, Henry Paulson, Jean-Claude Juncker, Lehman Brothers, Meltdown, Nicolas Sarkozy, Politics, Stock Market, Treasury, Trichet, U.K., U.S., Wall Street

Germany, France, Italy, Spain, Holland and Austria have joined forces to launch the greatest bank bail-out in history, offering over €1.5 trillion in guarantees and fresh capital in a “shock and awe” blitz to halt the credit panic.

French President Nicolas Sarkozy Photo: PHILIPPE WOJAZER

The move - unveiled simultaneously in the six states to maximise the show of unity - throws the full weight of the eurozone behind global efforts to stem the crisis.

The move gave a tremendous boost to bourses across Europe, lifting the Euro Stoxx index by 9.53pc in the biggest one-day rally ever.

The pan-European plan - totalling over $2 trillion, or £1.17 trillion - completes the third leg of a dramatic restructuring of finance across the Western world. Sovereign states have now absorbed the brunt of the credit risk in half the global economy.

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Tags: Angela Merkel, Austria, Beldium, BMW, Economy, EU, financial crisis, France, Germany, Government, Henry Paulson, Holland, IMF, Italy, Politics, Treasury

The plans for a massive bank bailout by European governments differ strikingly from the U.S. approach.

PARIS (Fortune) — First you mess up the world’s financial system. Then you blow the rescue of it. Now let’s show you how to do it properly.

That, in a nutshell, is the less-than-flattering message European governments are sending to the U.S. as they mount their own gigantic bank bailout. The plans, announced Monday after two weeks of dithering, involve Britain, Germany, France and some others recapitalizing national banks that require help, and providing state guarantees and other measures to kick-start the stalled credit market. The details are strikingly different from the U.S. approach adopted by U.S. Treasury Secretary Hank Paulson and the Federal Reserve Board. And there’s a big reason for that: The Europeans think Paulson got it badly wrong, and have watched aghast as he failed to restore confidence in the world’s financial system.

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Tags: Angela Merkel, bailout, Banks, Economy, Fed, Federal Reserve, financial crisis, France, Germany, Government, Henry Paulson, Lehman Brothers, Politics, Stock Market, Treasury, U.S.