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.
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.
"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.
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.
"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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