(SteveWatson) – In democratic politics there is a distinct difference between selection and election. However, according to European Commission President, José Barroso, the two are interchangeable.

Barroso tore into British member of European Parliament Nigel Farage today, after the UK Independence Party member accused Barroso of using illegitimate powers to implement a direct tax on all EU citizens. Read the rest of this entry »

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

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”. Read the rest of this entry »