The Great Debate UK

from Jack Shafer:

Edward Snowden and the selective targeting of leaks

Edward Snowden's expansive disclosures to the Guardian and the Washington Post about various National Security Agency (NSA) surveillance programs have only two corollaries in contemporary history—the classified cache Bradley Manning allegedly released to WikiLeaks a few years ago and Daniel Ellsberg's dissemination of the voluminous Pentagon Papers to the New York Times and other newspapers in 1971.

Leakers like Snowden, Manning and Ellsberg don't merely risk being called narcissists, traitors or mental cases for having liberated state secrets for public scrutiny. They absolutely guarantee it. In the last two days, the New York Times'David Brooks, Politico's Roger Simon, the Washington Post's Richard Cohen and others have vilified Snowden for revealing the government's aggressive spying on its own citizens, calling him self-indulgent, a loser and a narcissist.

Yet even as the insults pile up and the amateur psychoanalysis intensifies, keep in mind that Snowden’s leak has more in common with the standard Washington leak than should make the likes of Brooks, Simon and Cohen comfortable. Without defending Snowden for breaking his vow to safeguard secrets, he's only done in the macro what the national security establishment does in the micro every day of the week to manage, manipulate and influence ongoing policy debates. Keeping the policy leak separate from the heretic leak is crucial to understanding how these stories play out in the press.

Secrets are sacrosanct in Washington until officials find political expediency in either declassifying them or leaking them selectively. It doesn't really matter which modern presidential administration you decide to scrutinize for this behavior, as all of them are guilty. For instance, President George W. Bush's administration declassified or leaked whole barrels of intelligence, raw and otherwise, to convince the public and Congress making war on Iraq was a good idea. Bush himself ordered the release of classified prewar intelligence about Iraq through Vice President Dick Cheney and Chief of Staff I. Lewis "Scooter" Libby to New York Times reporter Judith Miller in July 2003.

Do you want shares in RBS and Lloyds?

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By Matt Scuffham, UK Banking Correspondent.

The government should hand most of its shares in Royal Bank of Scotland and Lloyds Banking Group to the public, an influential political think tank says, in what would be the country’s biggest privatisation.

The proposal would enable 48 million taxpayers to apply for shares at no initial cost and with no risk attached, the think tank said. A ‘floor price’ would be set and taxpayers would make a profit on any rise in the shares above that level.

US-China research ties should be a wake-up call to Europe

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–Dirk Jan van den Berg is President of Delft University of Technology, and was formerly the Dutch Ambassador to China and the Permanent Representative to the United Nations in New York. The opinions expressed are his own.–

Despite much media attention on disagreements, ranging from Taiwan to alleged cyber-attacks, as Chinese President Xi Jinping and U.S. President Barack Obama prepare for their first major summit meeting in California, there is a relatively new and growing basis for warmer ties: scientific and technological collaboration. 

from The Great Debate:

Addressing China’s ‘soft power deficit’

Xi Jinping (L) met with President Barack Obama in the Oval Office of the White House in Washington, Feb. 14, 2012.  REUTERS/Jason Reed

As Chinese President Xi Jinping prepares for his landmark summit with President Barack Obama in California Friday and Saturday, the critical mission of improving China’s image in the world could well be uppermost in his mind.

from The Great Debate:

A cry for worker fairness

People rescue a garment worker trapped under rubble of the collapsed Rana Plaza building in Bangladesh, April 24, 2013. REUTERS/Andrew Bira

The tragedy at the Rana Plaza clothing factory was a sober reminder that Bangladeshi garment workers still lack basic rights and protections. My mother was a seamstress. She worked in the textile factories of northern New Jersey. I saw how hard and tiring her work was. But it was never lethal. And it shouldn’t be.

How will the privatisation of RBS and Lloyds affect gilt supply?

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–Sam Hill is UK Fixed Income Strategist at RBC Capital Markets. The opinions expressed are his own.–

The return of RBS and Lloyds to the private sector is moving up the agenda but as the UK government prepares to set out the strategy for privatisation, the spotlight will, once again, fall on the gilt market and the public finances.

from The Great Debate:

Bradley Manning and the real war on leaks

Army Private First Class Bradley Manning in handcuffs for his motion hearing in Fort Meade in Maryland June 6, 2012. REUTERS/Jose Luis Magana

The most significant dispute over leaks this week is not in Washington, where Attorney General Eric Holder is under fire for the searches of journalists' files. It's 40 miles north in Fort Meade, Maryland, where the trial of Army Private First Class Bradley Manning begins Monday.

Is a low corporate tax rate really in Ireland’s benefit?

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–Kathleen Brooks is research director at forex.com. The opinions expressed are her own.–

The tax affairs of Apple and Google have brought attention onto Ireland for all the wrong reasons of late. Ireland’s reputation has undeniably been dragged through the mud as the corporate tax affairs of some of the world’s largest companies come under scrutiny in Westminster and Capitol Hill.

from David Rohde:

Prosperity without power

A woman walking near the headquarters (L) of the Federal Security Service, in central Moscow, May 14, 2013. REUTERS/Maxim Shemetov

In Moscow, they are “non-Soviet Russians.” In New Delhi, they are a “political Goliath” that may soon awake. In Beijing and São Paolo, they are lawyers and other professionals who complain about glacial government bureaucracies and endemic graft.

Thanks, Greece

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–Laurence Copeland is a professor of finance at Cardiff University Business School. The opinions expressed are his own.–

The euro zone crisis has been a piece of luck for Britain. Imagine what would have happened without it.

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