Sunday, November 11, 2012

Bummer: Countries on the edge of fiscal cliffs aren't necessarily keen on coming up with another $90+ billion dollars per year for climate hoax spending

Poor nations dismayed by looming climate aid gap | Reuters
(Reuters) - Rich nations are dismaying developing countries with pledges merely to continue aid to help them combat climate change in 2013 despite past promises of a tenfold surge to $100 billion a year by 2020.
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Developing countries want at least new cash for a fledgling, still-empty U.N. Green Climate Fund that is meant to channel aid towards developing nations.
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"At the very best we are looking at a flat-lining but we fear we will see a fall compared to the fast start finance," said Tim Gore of development group Oxfam. He said Spain, Italy, Greece and eastern Europe would all cut.
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A State Department official said Washington was committed to "providing continuity in climate finance" beyond 2012 and to the $100 billion target by 2020. Washington says it gave $5.1 billion in the first two years of fast start.
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"I don't think you can say that there is an emerging consensus on substantive conclusions" about new sources of funds, said Georg Boersting, a Norwegian official who is co-chair of work towards raising $100 billion by 2020.
BBC News - Greeces staves off bankruptcy but troubles lie ahead
So the country that has seen its economy shrink by 23% remains on life support.

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