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Financial crisis cash stuns scientist

Source:  Copyright 2008, Cape Argus
Date:  December 3, 2008
Original URL: Status ONLINE


The head of the world's top climate scientists said he was stunned at the trillion-dollar cheques that had been signed to ease the banking crisis when funding for poverty and global warming was scrutinised or denied.

In an interview on the sidelines of the United Nations climate talks, Rajendra Pachauri, chairman of the Nobel-winning Inter-governmental Panel on Climate Change, said he was both astonished and dismayed at the imbalance.

"It seems very strange what has happened in the past two or three months," he said. "It defies any kind of logic if you look at the type of money that the world has spent on these bailouts, $2,7-trillion (about R27-trillion) is the estimate, and it's been done so quickly and without questioning."

Pachauri recalled that, when the Millennium Development Goals for attacking poverty and sickness were being drawn up, a panel chaired by Ernesto Zedillo, the former president of Mexico, suggested "a fairly modest estimate" of ...

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