Politics and the Migration-Development Nexus: the EU and the Arab SEM Countries

Total Page:16

File Type:pdf, Size:1020Kb

Politics and the Migration-Development Nexus: the EU and the Arab SEM Countries POLITICS AND THE MIGRATION-DEVELOPMENT NEXUS: THE EU AND THE ARAB SEM COUNTRIES Françoise de Bel-Air CARIM Research Reports 2011/05 Co-financed by the European University Institute and the European Union EUROPEAN UNIVERSITY INSTITUTE, FLORENCE ROBERT SCHUMAN CENTRE FOR ADVANCED STUDIES Politics and the migration-development nexus: the EU and the Arab SEM countries FRANÇOISE DE BEL-AIR Doctor of Demographics and Social Sciences CARIM EURO-MEDITERRANEAN CONSORTIUM FOR APPLIED RESEARCH ON INTERNATIONAL MIGRATION RESEARCH REPORT, CARIM-RR 2011/05 BADIA FIESOLANA, SAN DOMENICO DI FIESOLE (FI) © 2011, European University Institute Robert Schuman Centre for Advanced Studies This text may be downloaded only for personal research purposes. Any additional reproduction for other purposes, whether in hard copies or electronically, requires the consent of the Robert Schuman Centre for Advanced Studies. Requests should be addressed to [email protected] If cited or quoted, reference should be made as follows: [Full name of the author(s)], [title], CARIM Research Reports [series number], Robert Schuman Centre for Advanced Studies, San Domenico di Fiesole (FI):European University Institute, [year of publication]. THE VIEWS EXPRESSED IN THIS PUBLICATION CANNOT IN ANY CIRCUMSTANCES BE REGARDED AS THE OFFICIAL POSITION OF THE EUROPEAN UNION European University Institute Badia Fiesolana I – 50014 San Domenico di Fiesole (FI) Italy http://www.eui.eu/RSCAS/Publications/ http://www.carim.org/Publications/ http://cadmus.eui.eu CARIM The Euro-Mediterranean Consortium for Applied Research on International Migration (CARIM) was created at the European University Institute (EUI, Florence), in February 2004 and co-financed by the European Commission, DG AidCo, currently under the Thematic programme for the cooperation with third countries in the areas of migration and asylum. Within this framework, CARIM aims, in an academic perspective, to observe, analyse, and forecast migration in Southern & Eastern Mediterranean and Sub- Saharan Countries (hereafter Region). CARIM is composed of a coordinating unit established at the Robert Schuman Centre for Advanced Studies (RSCAS) of the European University Institute (EUI, Florence), and a network of scientific correspondents based in the 17 countries observed by CARIM: Algeria, Chad, Egypt, Israel, Jordan, Lebanon, Libya, Mali, Mauritania, Morocco, Niger, Palestine, Senegal, Sudan, Syria, Tunisia, and Turkey. All are studied as origin, transit and immigration countries. External experts from the European Union and countries of the Region also contribute to CARIM activities. CARIM carries out the following activities: - Mediterranean and Sub-Saharan migration database; - Research and publications; - Meetings of academics and between experts and policy makers; - Migration Summer School; - Outreach. The activities of CARIM cover three aspects of international migration in the Region: economic and demographic, legal, and socio-political. Results of the above activities are made available for public consultation through the website of the project: www.carim.org For more information: Euro-Mediterranean Consortium for Applied Research on International Migration Robert Schuman Centre for Advanced Studies (EUI) Convento Via delle Fontanelle 19 50014 San Domenico di Fiesole Italy Tel: +39 055 46 85 878 Fax: + 39 055 46 85 755 Email: [email protected] Robert Schuman Centre for Advanced Studies http://www.eui.eu/RSCAS/ Table of Contents INTRODUCTION ................................................................................................................................................. 1 I. EU POLICIES ON MIGRATION ......................................................................................................................... 3 Migration for the EU: a central issue ............................................................................................................ 3 Migration and development ........................................................................................................................... 5 EU policy towards the SEM countries: a bipolar security issue ................................................................... 7 Migration and development in EU-SEM relations: policies and debates .................................................... 11 II. ASSESSMENT OF THE APPROACH AND BACKGROUND OF EU MIGRATION- DEVELOPMENT POLICIES. .......................................................................................................................... 12 Neo-liberal reforms as conducive to employment ....................................................................................... 12 Neo-liberal reforms, politics and migration ................................................................................................ 13 The “root-causes approach” and the “migration hump” ........................................................................... 14 Engineering migration for development: from scientific debate to ideology .............................................. 15 III. ALTERNATIVE THEORIES ON MIGRATION AND DEVELOPMENT: MULTI-LEVEL APPROACHES ................................................................................................................................................... 20 Migration systems theory ............................................................................................................................ 21 Transnational networks and diasporas ....................................................................................................... 22 Political economy, social transformation and neo-institutionalist views .................................................... 22 Migration as an intrinsic part of development: the “human development” paradigm ............................... 25 IV. THE SOCIO-POLITICAL CONTEXT OF EMIGRATION DYNAMICS FROM THE SEM COUNTRIES ....................................................................................................................................................... 27 Migration dynamics from the SEM region .................................................................................................. 27 Reassessing the “root causes” of Arab SEM migration and its resilience .................................................. 29 V. SEM COUNTRIES’ MIGRATION-FOR-DEVELOPMENT POLICIES: A VIEW FROM POLITICAL ECONOMY AND NEO-INSTITUTIONALISM ...................................................................... 35 Migration and development policies in the SEM countries ......................................................................... 35 SEM countries’ migration-for-development policies: a response to what stakes, for what outcomes? ....... 47 CONCLUSION: MIGRATION AND POLITICAL TRANSITION IN THE SEM REGION .................... 53 BIBLIOGRAPHIC REFERENCES .................................................................................................................. 55 Abstract In the hope of regulating migratory flows, the European Council endorsed a “global approach” to migration in December 2005, an approach which is based on the correction of the “deep causes of migration”: poverty, unemployment and development gaps between North and South. Besides liberalising economies and trade systems, a set of measures are advocated in order to enhance home countries’ development by using “migration [as a] medicine against migration”: stimulating the remittance of funds back to the country of origin; expanding the role of diasporas settled in member states; reinforcing circular migration schemes and facilitating return movements; and improving the management of the emigration of the highly-skilled in order to curb “brain drain”. The paper focuses on the Arab South and East Mediterranean (SEM) countries. It challenges the views, implicit in EU migration policies, that migration is entirely rooted in economics and that migrants’ agency alone is able to spur development in the origin country. Using the theoretical background of political economy with a neo-institutional approach to migration, it explores the stakes, the outreaches and the outcomes of the migration and development nexus. By so doing, it re-politicizes migration and development and emphasises the structural and contextual dimension of factors pushing on migration and hampering development: unemployment and high professional turn over; economic liberalisation and deregulation policies, and socio-political “blockages” (gender inequalities, patronage, clientelism and corruption, lack of public expression). Moreover, the analysis of SEM country practices in the field of migration management and engineering migration for development shows how the design of policies and the channelling of flows respond to political and demographic stakes in the various national contexts. Migration patterns act as a political shield for regimes in the region that: allows these regimes to monitor political opposition; renews socio-cultural elites; and decreases the economic opportunities in national economies, due to corruption and patronage. Current policies also reconstruct state-society/expatriates relations, through (controlled) economic participation and socio-cultural solidarity. They do not, however, lead to political participation. The paper thus concludes that amendments to macro-political contexts in the SEM countries are more likely than liberalisation policies to curb emigration flows, by engineering global social and political development. As a
Recommended publications
  • Food Security Assessment, 2008-09
    A Report from the Economic Research Service United States Department www.ers.usda.gov of Agriculture GFA-20 June 2009 Food Security Assessment, 2008-09 Shahla Shapouri, [email protected] Stacey Rosen, [email protected] Birgit Meade, [email protected] Fred Gale, [email protected] Abstract Food security in 70 developing countries is projected to deteriorate over the next decade, according to USDA’s Economic Research Service. After rising nearly 11 percent from 2007 to 2008, the number of food-insecure people in the developing countries analyzed by ERS researchers is estimated to rise to 833 million in 2009, an almost 2-percent rise from 2008 to 2009. Despite a decline in food prices in late 2008, deteriorating purchasing power and food security are expected in 2009 because of the growing fi nancial defi cits and higher infl ation that have occurred in recent years. Food-insecure people are defi ned as those consuming less than the nutritional target of 2,100 calories per day per person. Keywords: food security, prices, production, commercial imports, export earnings, capital infl ows, remittances, foreign direct investment, food aid, Sub-Saharan Africa, North Africa, Asia, Latin America, the Caribbean, Commonwealth of Independent States, Economic Research Service, USDA Preface This report continues the series of food assessments begun in the late 1970s. Global Food Assessments were done from 1990 to 1992, hence the GFA series. In 1993, the title was changed to Food Aid Needs Assessment to more accurately refl ect the contents of the report, which focuses on selected developing countries with past or continuing food defi cits.
    [Show full text]
  • Algeria E Tunisia: Due Eccezioni Agli Antipodi
    Università di Pisa Scuola di dottorato in Scienze Politiche e sociali, programma: Geopolitica. XXVII ciclo (2012-2014) Algeria e Tunisia: due eccezioni agli antipodi. Uno studio comparato sull’evoluzione dei sistemi politico-istituzionali e costituzionali, all’interno della regione geopolitica euro-mediterranea. (Settore scientifico disciplinare: SPS/13 Storia e istituzioni dell’Africa) Tutor: Prof. Maurizio Vernassa Candidata: Dr.ssa Mariangela Barbarito Indice Introduzione e premesse metodologiche. 4 PARTE I Algeria e Tunisia: dalle indipendenze alle primavere arabe 13 Capitolo 1. Un breve excursus storico: Algeria e Tunisia, dalla costruzione dello Stato post-coloniale alla consacrazione dei regimi ibridi. 14 1.1) La nascita dell’Algeria indipendente e i suoi sviluppi politico-costituzionali negli anni Sessanta e Settanta. 14 1.2) Le aperture economiche e politiche degli anni Ottanta e la progressiva escalation di violenza. 25 1.3) Il lento ritorno alla normalità e la consacrazione del regime ibrido: la Costituzione del 1996, l’elezione di Bouteflika, la pacificazione nazionale e le modifiche del 2008. 35 1.4) La nascita della Tunisia indipendente e la I Repubblica tunisina: la Costituzione del 1959 e il Codice di Statuto Personale del 1956. 48 1.5) La seconda fase dell’era Bourghiba: dalla consacrazione della Presidenza a vita al declino degli Ottanta. 55 1.6) La II Repubblica tunisina: il coup d’état chirurgical, le speranze tradite e la riforma costituzionale del 2002. 60 1.7) Le caratteristiche dei regimi ibridi alla vigilia delle primavere arabe. 69 Capitolo 2. Algeria e Tunisia: tra primavere arabe e mantenimento dello status quo. Linee evolutive politico-istituzionali e costituzionali nel periodo 2011-2014.
    [Show full text]
  • Economic Crisis in the Middle East and North Africa
    Policy Contribution Issue n˚02/21 | January 2021 Economic crisis in the Middle East and North Africa Marek Dabrowski and Marta Domínguez-Jiménez Executive summary In the 2010s, the economic situation in the Middle East and North Africa (MENA) Marek Dabrowski deteriorated as a result of lower oil and other commodity prices, a new round of domestic (marek.dabrowski@ political instability, continuous intra-regional conflicts, stalled economic and governance bruegel.org) is a Non- reforms and, finally, the COVID-19 pandemic. Resident Fellow at Bruegel, a Professor at the Higher The growth of real GDP, which slowed after the global financial crisis of 2008-2009, School of Economic in further decelerated in the second half of the 2010s and became negative in 2020 as result of Moscow, and a Fellow at the COVID-19 shock. Fiscal balances have deteriorated, even in the oil-exporting countries, CASE - Center for Social and and public debt has grown rapidly. Economic Research MENA countries continue to face numerous long-term socio-economic and institutional Marta Domínguez- challenges including high unemployment (especially youth unemployment), low female Jiménez (marta. labour-market participation rates, the poor quality of education, costly and ineffective public [email protected]) sectors, high military and security spending, high energy subsidies and trade protectionism. is a Research Analyst at Only comprehensive long-term reform programmes can address these challenges. Bruegel The European Union is MENA’s second largest trading partner after the region itself, and The authors thank Maria is one of two main sources of foreign direct investment and a major aid donor.
    [Show full text]
  • Beyond the 'War on Terror'
    ISS MONOGRAPH 165 ISS Head Office Block D, Brooklyn Court, Veale Street MAGHREB THE RESPONSESIN JUSTICE TERRORISM OF CRIMINAL TO A STUDY ON TERROR’: ‘WAR BEYOND THE New Muckleneuk, Pretoria Beyond the Tel: (27-12) 346 9500 Fax: (27-12) 346 9570 E-mail: [email protected] ISS Addis Ababa Office ‘War on Terror’ First Floor, Ki-Ab Building, Alexander Pushkin Street, Pushkin Square, Addis Ababa The US-led ‘War on Terror’ is coming to a A study of criminal justice responses to timely end. As a result, Africa is entering a new Tel: (251-11) 372 1154/5/6 Fax: (251-11) 372 5954 E-mail: [email protected] era of counter-terrorism, one shaped by African terrorism in the Maghreb realities and priorities and less reliant on pure ISS Cape Town Office intelligence-driven and military responses. 67 Roeland Square, Drury Lane Gardens Criminal justice responses that uphold human Cape Town 8001 South Africa rights and ensure due process are likely to Tel: (27-21) 461 7211 Fax: (27-21) 461 7213 become more widespread and should be a key E-mail: [email protected] element of broader societal counter-terrorism strategies. ISS Nairobi Office This important and timely study is a 5th Floor, Landmark Plaza preliminary assessment of the extent to which Argwings Kodhek Road, Nairobi, Kenya three African countries – Algeria, Morocco Tel: (254 -20) 300 5726/8 Fax: (254-20) 271 2902 and Tunisia – have attempted to effectively E-mail: [email protected] and appropriately address terrorism threats ISS Pretoria Office through their national criminal justice systems.
    [Show full text]
  • ALGERIA Conflict Insights Vol 1
    PEACE & SECURITY REPORT Vol. 1 April 2020 ALGERIA CONFLICT INSIGHT ABOUT THE REPORT The purpose of this report is to provide analysis and policy implications to assist the African Union (AU), Regional Economic Communities (RECs), Member States and Development Partners in decision-making and in the implementation of peace and security related instruments. The opinions expressed in this report are the contributors' own and do not necessarily refl ect the views of the Institute for www.ipss-addis.org/publications Peace and Security Studies. CONTENTS SITUATION ANALYSIS 2 CAUSES OF THE CONFLICT 4 ACTORS 7 DYNAMICS OF THE CONFLICT 11 CURRENT RESPONSE ASSESSMENT 13 SCENARIOS 14 STRATEGIC OPTIONS 15 REFERENCES 16 CONFLICT TIMELINE (1954-2019) 17 CONTRIBUTORS Dr. Mesfin Gebremichael (Editor in Chief) Ms. Chedine Tazi Ms. Happi Cynthia Mr. Moussa Soumahoro Ms. Muluka Shifa Ms. Pezu Catherine Mukwakwa Ms. Tigist Kebede Feyissa Ms. Tsion Belay DESIGN & LAYOUT Mr. Abel Belachew (Design & Layout) © 2020 Institute for Peace and Security Studies | Addis Ababa University. All rights reserved. IPSS PEACE & SECURITY REPORT SITUATION ANALYSIS PO G LI P DP FE U P E L E X A R P T E I C C O A T N A P I N T C A Y 41.32M $4815.60 76.08 A T B I R T H ( ) Y S E R A HU NE RE M IG Cs A H N B O Figure 1: Country profile D Morocco U E and demographics R V Arab Mauritania S E Index: 0.754 L Mali Maghreb O Rank: 85/189 P Niger Union M Libya E (UMA) N Tunisia T I N D ) E I X D ( H Algeria is the largest African and Arab country and an Algeria gained its independence from France in 1962 important regional power in the MENA, with one of the after an 8-year-war that killed between 400,000 people biggest and best equipped armed forces in the sub- (according to French historians) and more than one region.1 The Algerian economy is based on a rentier state million people (according to the Algerian government).2 system that heavily relies on its hydrocarbons sector.
    [Show full text]
  • Political Cleavages and Social Inequalities in Algeria, Iraq, and Turkey, 1990-2019
    World Inequality Lab – Working Paper N° 2021/12 Political Cleavages and Social Inequalities in Algeria, Iraq, and Turkey, 1990-2019 Lydia Assouad Amory Gethin Thomas Piketty Juliet-Nil Uraz March 2021 Political Cleavages and Social Inequalities in Algeria, Iraq, and Turkey, 1990-20191 Lydia Assouad Amory Gethin Thomas Piketty Juliet-Nil Uraz2 Abstract This paper draws on political attitudes surveys to document the evolution of political cleavages in light of inequality dynamics in Algeria (2002-2018), Iraq (2005-2018), and Turkey (1991-2018). We investigate how social divides and ethno-religious conflicts shape voting behaviors in these three countries through their interaction with the voting system and the structure of inequalities. Our findings suggest that identity-based voting remains highly interconnected with social disparities and does not offer extensive explanatory power on its own, except in the extreme case of the Iraqi sectarian political system. Socioeconomic factors play a differentiated role depending on the historical and institutional context and have increasingly been at the heart of popular mobilizations outside of the electoral arena. 1 We are grateful to Ishac Diwan, Dalia Ghanem and Clara Martínez-Toledano for their useful advices. 2 Lydia Assouad, Amory Gethin, Thomas Piketty: Paris School of Economics – World Inequality Lab. Juliet-Nil Uraz: European University Institute. Introduction Shaken by civil wars, interstate conflicts and intifada for several decades, the Middle East and Northern Africa (MENA) region seems to find its unity around the predominance of violence. To explain such a political turmoil, a common view consists in reducing all conflicts in the region to their ethno-religious dimension.
    [Show full text]
  • Options for Africa's Development
    Open Research Online The Open University’s repository of research publications and other research outputs Africa’s cooperation with new and emerging development partners: options for Africa’s development Other How to cite: Kaplinsky, Raphael and Farooki, Masuma (2009). Africa’s cooperation with new and emerging development partners: options for Africa’s development. UN-OSSA. For guidance on citations see FAQs. c 2009 UN-OSSA Version: Version of Record Link(s) to article on publisher’s website: http://www.un.org/africa/osaa/reports/emerging_economies_2009.pdf Copyright and Moral Rights for the articles on this site are retained by the individual authors and/or other copyright owners. For more information on Open Research Online’s data policy on reuse of materials please consult the policies page. oro.open.ac.uk Africa’s Cooperation with New and Emerging Development Partners: Options for Africa’s Development October 2009 Office of the Special Adviser on Africa Acknowledgments The study has been prepared by Raphael Kaplinsky and Masuma Farooki, with the assistance of Anne Terheggen and Julia Tijaja, Development Policy and Practice, The Open University, Milton Keynes, UK. It has benefited from comments and suggestions of Katrin Toomel, United Nations Office of the Special Adviser on Africa (UN-OSAA). The work was carried out under the overall direction and guidance of David Mehdi Hamam, UN-OSAA. The report was enriched by the discussions at the Expert Group Meeting on Africa’s Cooperation with New and Emerging Development Partners, held in
    [Show full text]
  • The Afdb Group in North Africa 2012
    The African Development Bank Group in North Africa 2012 A Year of Transitions African Development Bank The African Development Bank Group in North Africa - 2012 Table of contents 5 Foreword 7 Preface 9 Acronyms 15 CHAPTER 1 North Africa’s Economies in Transition 16 Introduction This report was led by Vincent Castel (Principal Program Coordinator, ORNA) and Paula Ximena Mejia (Consultant, ORNA) under the 18 The Economic Origins of the Arab Spring: Jobs and Justice guidance of Jacob Kolster (Director, ORNA) and Nono Matondo-Fundani (Director, ORNB). 21 The Macroeconomic Developments of 2011 28 North Africa’s 2012 Economic Outlook The authors of the report would like to thank for their inputs Catherine Baumont-Keita (Lead, ORNB), Alassane Diabate (Pricnipal 30 Key Challenges Ahead 35 Concluding Remarks Country Economist Mauritania, ORNB), Yasser Ahmad (CPO, ORNA), Kaouther Abderrahim (Consultant, ORNA), Emanuele Santi (Senior Country Economist, ORNA), Charles Muthuthi (Chief Country Economist, ORNA), Malek Bouzgarrou (Senior Country Economist, 37 CHAPTER 2 Youth Unemployment in North Africa ORNB), Assitan Diarra-Thioune (Resident Representative, DZFO), Kossi Robert Eguida (CPO, DZFO), Sibry Tapsoba (Resident 38 Introduction Representative, EGFO), Almaz Amine (Country Operations Expert, EGFO), Gehane El Sokkary (Socio-Economist, EGFO), Amani Abou- 39 The Emergence of a Youth Bulge: Curse or Dividend? Zeid (Resident Representative, MAFO), Samba Ba (Chief Country Economist, ORNB). Project Briefs were also reviewed by their respective 40 Quantity versus Quality of Education task managers in the sector departments. 44 Quantity Versus Quality of Employment 46 Economic Climate and Unemployment 48 Migration and “Brain Drain” Chapter 1 was drawn from the African Economic Outlook 2012 and the AfDB publication “Jobs, Justice and the Arab Spring: Restoring 49 Concluding Remarks Shared Growth in North Africa” authored” by John Page.
    [Show full text]
  • The Geopolitics of Falling Oil Prices
    P B A Sultans of Swing? The Geopolitics of Falling Oil Prices F. Gregory Gause, III The Brookings Institution is a private non-profit organization. Its mission is to conduct high- quality, independent research and, based on that research, to provide innovative, practical recommendations for policymakers and the public. The conclusions and recommendations of any Brookings publication are solely those of its author(s), and do not necessarily reflect the views of the Institution, its management, or its other scholars. Brookings recognizes that the value it provides to any supporter is in its absolute commitment to quality, independence and impact. Activities supported by its donors reflect this commitment and the analysis and recommendations are not determined by any donation. Copyright © 2015 Brookings Institution BROOKINGS INSTITUTION 1775 Massachusetts Avenue, N.W. Washington, D.C. 20036 U.S.A. www.brookings.edu BROOKINGS DOHA CENTER Saha 43, Building 63, West Bay, Doha, Qatar www.brookings.edu/doha Sultans of Swing? The Geopolitics of Falling Oil Prices F. Gregory Gause, III1 he recent fall in world oil prices Will domestic upheaval and regional war follow cannot but have an impact on the from our current period of a drastic fall in oil politics of the Middle East. Many of prices? That is highly unlikely. While salient Tits states, including two of the major players examples of such dramatic events pop easily to in the current struggle for regional influence– mind when thinking of past periods of low oil Iran and Saudi Arabia–rely heavily on oil to prices, the less dramatic fact is that very few fund their governments and to float their oil states actually experienced regime change economies more generally.
    [Show full text]
  • The Iraq Effect: the Middle East After the Iraq War
    THE ARTS This PDF document was made available CHILD POLICY from www.rand.org as a public service of CIVIL JUSTICE the RAND Corporation. EDUCATION ENERGY AND ENVIRONMENT Jump down to document6 HEALTH AND HEALTH CARE INTERNATIONAL AFFAIRS The RAND Corporation is a nonprofit NATIONAL SECURITY research organization providing POPULATION AND AGING PUBLIC SAFETY objective analysis and effective SCIENCE AND TECHNOLOGY solutions that address the challenges SUBSTANCE ABUSE facing the public and private sectors TERRORISM AND HOMELAND SECURITY around the world. TRANSPORTATION AND INFRASTRUCTURE Support RAND WORKFORCE AND WORKPLACE Purchase this document Browse Books & Publications Make a charitable contribution For More Information Visit RAND at www.rand.org Explore RAND Project AIR FORCE View document details Limited Electronic Distribution Rights This document and trademark(s) contained herein are protected by law as indicated in a notice appearing later in this work. This electronic representation of RAND intellectual property is provided for non-commercial use only. Unauthorized posting of RAND PDFs to a non-RAND Web site is prohibited. RAND PDFs are protected under copyright law. Permission is required from RAND to reproduce, or reuse in another form, any of our research documents for commercial use. For information on reprint and linking permissions, please see RAND Permissions. This product is part of the RAND Corporation monograph series. RAND monographs present major research findings that address the challenges facing the public and private sectors. All RAND mono- graphs undergo rigorous peer review to ensure high standards for research quality and objectivity. THE IRAQ EFFECT The Middle East After the Iraq War Frederic Wehrey Dalia Dassa Kaye Jessica Watkins Jeffrey Martini Robert A.
    [Show full text]
  • Impact of the US Financial Crisis on GCC Countries
    Impact of the US Financial Crisis on GCC Countries GRC Report Eckart Woertz October 2008 Table of Contents INTRODUCTION ............................................................................................................... 3 The Financial Crisis Formerly Known as “Subprime Crisis” ............................................. 3 The Direct Financial Effect: Subprime Exposure of GCC Banks ...................................... 8 The Indirect Financial Effect: Rising Costs of Finance and Tight Liquidity .................... 10 Sovereign Wealth Funds Stepping in? ........................................................................... 13 Effects on the Real Economy ......................................................................................... 14 Conclusion ..................................................................................................................... 19 Impact of the US Financial Crisis on GCC Countries Introduction The subprime crisis, which started in the US in 2007, has developed into a full-blown international financial crisis with potentially severe consequences for the GCC countries and their growth models. Hopes that the GCC countries and emerging markets in Asia like China might be able to decouple have proven futile. All of them have considerable assets in the US but most importantly, they have been hit by the increased costs of funding and liquidity problems in the wake of the crisis. After showing resilience in 2007 and remaining relatively unaffected by the global subprime turmoil in
    [Show full text]
  • Convention Against Torture and Other Cruel, Inhuman Or Degrading Treatment Or Punishment (Forty-Sixth Session)
    United Nations CAT/C/46/D/419/2010 Convention against Torture Distr.: Restricted* 5 July 2011 and Other Cruel, Inhuman English or Degrading Treatment Original: French or Punishment Committee against Torture Forty-sixth session 9 May–3 June 2010 Decision Communication No. 419/2010 Submitted by: Yousri Ktiti (represented by Action by Christians for the Abolition of Torture ACAT-France) Alleged victim: Djamel Ktiti (brother of the claimant) State party: Morocco Date of complaint: 14 April 2010 (initial submission) Date of decision: 26 May 2011 Subject matter: Extradition of the complainant’s brother to Algeria Procedural issues: None Substantive issues: Expulsion of a person to another State where there are substantial grounds for believing that he would be in danger of being subjected to torture Articles of the Convention: 3 and 15 [Annex] * Made public by decision of the Committee against Torture. GE.11-43864 (E) 210711 260711 CAT/C/46/D/419/2010 Annex Decision of the Committee against Torture under article 22 of the Convention against Torture and Other Cruel, Inhuman or Degrading Treatment or Punishment (forty-sixth session) concerning Communication No. 419/2010 Submitted by: Yousri Ktiti (represented by Action by Christians for the Abolition of Torture ACAT-France) Alleged victim: Djamel Ktiti (brother of the claimant) State party: Morocco Date of complaint: 14 April 2010 (initial submission) The Committee against Torture, established under article 17 of the Convention against Torture and Other Cruel, Inhuman or Degrading Treatment or
    [Show full text]