EBRD Concerned With Armenian Currency Growth

EBRD CONCERNED WITH ARMENIAN CURRENCY GROWTH

Panorama.am
17:40 19/06/2007

European Bank of Reconstruction and Development (EBRD) has raised a
concern in its report with Armenian dram’s strengthening. "Rapid growth
of Armenian currency without productivity may endanger the country’s
competitiveness," the report says. EBRD underscored improvements
in transparency and competition to make funds and investments more
accessible, RFE/RL reports. EBRD’s report is going to be discussed
at Council of Europe Parliamentary Assembly summer session next week.

BAKU: Fuad Musayev Says Armenians Not To Accept Proposal To Cancel A

FUAD MUSAYEV SAYS ARMENIANS NOT TO ACCEPT PROPOSAL TO CANCEL AZERBAIJAN – ARMENIA MATCHES

Azeri Press Agency, Azerbaijan
June 19 2007

"UEFA may pass a decision to cancel the matches between Azerbaijan
and Armenia. But first of all, the parties should give their consent
with the decision", former AFFA president Fuad Musayev told APA-Sport.

Musayev stressed he doesn’t believe Football Federation of Armenia
will accept the proposal to cancel the matches.

"Armenian squad said it is ready to play in Baku and Yerevan. The
team is very determined which shows that they believe to win over
Azerbaijan. Armenia will not accept to cancel the matches because it
intends to score more points in Euro qualifying stage", he said.

UEFA is to pass decision on the matches between Azerbaijan and Armenia
scheduled for 8 and 12 September on June-21 meeting.

Dashnaks Reaffirm Presidential Plans

DASHNAKS REAFFIRM PRESIDENTIAL PLANS
By Anna Saghabalian

Radio Liberty, Czech Rep.
June 18 2007

A leader of the Armenian Revolutionary Federation (Dashnaktsutyun)
reaffirmed on Monday the party’s intention to nominate its own
candidate in next year’s presidential election.

Vahan Hovannisian, who is also a deputy speaker of Armenia’s newly
elected parliament, argued that Dashnaktsutyun has policy differences
with the Republican Party (HHK) of Prime Minister Serzh Sarkisian,
President Robert Kocharian’s most likely successor. He also claimed
that his party’s independent involvement in the presidential race is
essential for strengthening democracy in the country.

"There already exist safeguards against Armenia’s slide into
dictatorship," said Hovannisian. "But in my opinion, those safeguards
are not that strong, and I think the Dashnaktsutyun candidate will
be best placed to strengthen them."

Dashnaktsutyun leaders have repeatedly stated over the past year that
they will not back Sarkisian for the Armenian presidency and will field
their own candidate instead. Sarkisian reportedly tried to get them to
reconsider this stance during power-sharing negotiations that followed
the HHK’s landslide victory in the May 12 parliamentary elections. But
he eventually agreed to give Dashnaktsutyun three ministerial posts
in his new cabinet without securing its commitment to endorsing his
presidential bid.

"Whoever runs for president, we are not an enemy of the Republican
Party," Hovannisian told reporters. "We are longtime partners. We
just have our approaches to many issues. We see different solutions
to those issues." He did not specify what those differences are.

Under the June 6 power-sharing agreement signed with the HHK and
the pro-Kocharian Prosperous Armenia Party, Dashnaktsutyun will
bear responsibility only for the policies and actions of the three
government ministers affiliated with it. This allowed the nationalist
party to further distance itself from Sarkisian’s government while
retaining most of its power levers.

Azerbaijan Does Not Believe In Sincerity Of Samir Mamedov’s Desire T

AZERBAIJAN DOES NOT BELIEVE IN SINCERITY OF SAMIR MAMEDOV’S DESIRE TO STAY IN ARMENIA

ArmInfo
2007-06-18 18:45:00

Samir Mamedov deserted to the Armenian party at the end of last
year. The soldier explained his action by the violent treatment in the
Azerbaijani army. Earlier this year, Mamedov applied to the President
of Armenia for a status of refugee.

However, Azerbaijan believes "the developments around S. Mamedov
another slander of Armenia’s propaganda machine." "The Azerbaijani
State Commission for POWs, Hostages and the Missing reiterates that
on the basis of the International Humanitarian Law and the accepted
practice, the countries at war must repatriate hostages without
reservations and that the signatories of Geneva Conventions dated
August 12 1949 must observe them. Under the given Conventions,
a hostage cannot be left in the hostile country for permanent
residence or used an instrument of influence and propaganda against
his country. The State Commission continues its activity aimed at
release of S. Mamedov and his repatriation and urges international
orgnaisations to take measures to bring Armenia observe its
international obligations," Azerbaijani media report.

It is noteworthy that S. Mamedov voluntarily deserted to the Armenian
party.

Moreover, Azerbaijan automatically declares the person once
taken hostage a parricide and sentences him for long years of
imprisonment. Naturally, S. Mamedov has no desire to spend 10-15
years in prison.

The Failed Sunni Army Solution; Blowback Across Lebanon

The Failed Sunni Army Solution

Blowback Across Lebanon

CounterPunch
June 15, 2007

By FRANKLIN LAMB

Tripoli, Lebanon — Whoever killed anti-Syrian Lebanese MP Walid Eido
Wednesday knew Syria would be blamed and that the country would move
closer to civil war. Pro-government factions turned out in force along
Beirut’s Roauche sea front chanting anti-Syrian and anti-Hezbollah
slogans but no serious fighting has been ignited yet.

Another consequence may be to breathe new life into chances for a US
backed Northern Sunni Army to confront Hezbollah and the Palestinians.
The Northern Sunni Army, seemed doable-at least a couple of years
ago-during Plan "B"-then Plan "C" – which became Plan "D" sessions of the
Welch Club to decide who was going to control Lebanon.
For the Club, comprised of David Welch, Samir Geagea, (Lebanese Forces)
Walid Jumblatt (Druze PSP militia) and chaired by Saad Hariri, (Future
Movement) plus some allies, like current Prime Minister Fuad Siniora,
the choices were black and white simple: Lebanon’s future will be
controlled by Israel and the US or Lebanon will be controlled by Syria
and Iran.

What role will be played by the Lebanese themselves would depend on
‘variables’. Among which were the need for a Bush administration victory
in Iraq, destroying Hezbollah, leader of the Lebanese resistance and
nationalist movement, and preventing Israel, increasingly seen in the
Pentagon as teetering, as history’s judgment approaches, from virtually
collapsing.

When some bright graduate student writes a Doctoral dissertation
entitled : Who lost Lebanon? the thesis may well argue that effects of
the historic events now unfolding including Nahr al-Bared and simmering
in Ain el Helweh, and Lebanon’s other ten Palestinian Refugee Camps.
This, in addition to the blowback from the debacle of the Bush
administration’s 2003 invasion of Iraq which unleashed a horrific
Shia/Sunni conflict and civil war. Within 9 months of the invasion of
Iraq, fear of the ‘Shia rising" phenomenon quickly created panic in
Washington, Riyadh and Amman. Both Kings Abdullah explained to all who
would listen that a dangerous Shia Crescent was taking form that would
arc from Iran, across Iraq to Lebanon.

The Bush administration listened, and never creating a Middle East
problem it didn’t have a solution for, followed the lead of the Neocons
and Ziocons in their ranks and advised their Sunni allies of yet another
new project.
"It was a truly ‘ epiphanous, spiritual awakening’" one American
University of Beirut student recently called it. The obvious solution to
check the increased regional influence of Iran and Syia, was to quickly
create a Northern Sunni Army to confront a Southern Lebanese Shia army
(Hezbollah). The murder of Rafic Hariri, and those seven Lebanese
opinion makers assassinated since, accelerated the project.

North Lebanon appeared to be the perfect recruiting ground for Lebanon’s
newest army because the area is overwhelmingly Sunni, pro-Hariri, has
high unemployment with many able young men willing to be recruited and
the community feels left out of economic advances to their south.

In addition, North Lebanon has a well situated airport at Keilaat,
which, according to this scenario, could be converted to US base which
would include a training facility for the new force.

From interviews with members of Fatah Intafada, Fatah al-Islam, Jund al
Sham, Osbat al Ansar, Jund Allah and many PLO factions, plus residents
in all 12 of Lebanon’s Palestinian Refugees Camps, as well as various
NGO’s and long time camp observers, one fact seems quite clear. Those
who were imported into Lebanon to be the catalyst of the new force
proved more interested in fighting Israel than fighting Hezbollah or the
Palestinians and appeared to take seriously the late Abu Musab
Al-Zarqawi counsel that fighters should go to the border of Palestine
and fight.

Moreover, the widely held view here is that Al Qeada has arrived in
Lebanon with a vengeance and Fatah al-Islam is just the tip of the
iceberg. The ‘cells’ are throughout Lebanon and are organizing broadly
and not just in the Palestinian Camps, where they are resisted by Hamas,
Fatah Arafat, and the Popular Front for the Liberation of Palestine, as
in Shatilla and Burj al-Baraneh Camps.
Practically every day witnesses Lebanese security forces finding all
sorts of explosives, car bombs, arms stores( 6/14/07 another large stash
six blocks from Nahr al-Bared) and receiving information from Fatah
al-Islam, Jund al-Sham and other Salafist detainees, concerning dozens
of planned operations from bombing the American Embassy, large hotels,
malls and attacking UNIFIL forces. As Robert Fisk reported recently,
Hezbollah officials have assured the French, Spanish and Italian
Embassy’s that Hezbollah will watch UNIFIL’s back and try to stop Al
Qeada from attacking them. A "hit list" with 30 names was reported on
6/13/07, just hours before MP Wadid Eido,one of the names on the list,
was murdered.

The UN, also to be targeted, according to Internal Security reports, is
on high alert. One reliable source advised this observer on 6/14/07 that
Hezbollah men are actually discretely leading UN convoys along the 75
mile blue line, sort of riding shotgun, in front of them and with the
electronics they are known for. Hezbollah intelligence, which checkmated
Israel during the July 2006 war, is believed by the UN to be just as
solid today and the UN appreciates the help.

Seymour Hersh uses the word ‘acute’ to describe the concern in the White
House regarding the Shia renaissance.

As a result, Hersh claims the Bush administration is no longer acting
rationally in its policy. "We’re in the business of supporting the
Sunnis anywhere we can against the Shiite. … "We’re in the business of
creating … sectarian violence." And he describes the scheme of funding
Fatah al-Islam as "a covert program we joined in with the Saudis as part
of a bigger, broader program of doing everything we could to stop the
spread of the Shiite world, and it just simply – it bit us in the rear".
That the Bush administration Welch Club Arranged for Al Qaeda affiliates
and kindred spirits to enter Lebanon and received help from local ‘club
members’ is widely believed in Lebanon. The US Embassy in Beirut and the
CIA will neither confirm nor deny involvement in the plan to use Al
Qeada to confront Hezbollah

Everything seemed to be falling neatly into place. Much like the
US/Saudi supported Osama Bin Laden operation in Afghanistan during the
Soviet occupation, cash was committed (apparently it did not dawn on the
Welch Club that history sometimes repeats itself and that their creation
may not be easily returned to Pandora’s Box). In addition there were
other deep pockets that could be tapped. As Forbes magazine documents,
the Hariri family fortune skyrocketed from a measly 4.1 billion in 2002
to 16.7 billion and counting, as of early last year- a stellar
performance even by Saudi standards.

Surely some seed money was in order and Bahia Hariri wasted no time in
funding Fund al Sham in the Taamar neighborhood just outside of Ain el
Helweh, whose PLO factions objected to the group inside its
‘jurisdiction’ while her nephew arranged funding for Fatah al-Islam and
already existing Sunni Salafist groups including Osbat al Ansar and Jund
Allah, both mainly staffed by Lebanese and beefed up with outsiders
brought in for the purpose. Mohammad Kobanni, the Grand Sunni Mufti and
Hariri aide, is accused of chipping in with "religious scholar visas" to
ease entry into Lebanon of al Qeada affiliated Salafists
Hezbollah is the mortal enemy of al Qeada, who considers Shia apostates.
In return, Hezbollah acuses al Qeada of subverting the Koran and
conducting terrorism, as they made clear in their denouncements of Al
Qeada following 9/11. But many observers here do not expect them to
fight each other.

When the Welch Club decided to move Fatah al-Islam from the Southern
Sidon base at Ein el Helweh, to the North Lebanon Nahr al-Bared camp,
Ms. Bahia Hariri admlits that she paid for the transplantation,
according to Arab Monitor of 6/6/07. Given the disaster that happened
when Jund al-Sham’s unruly twin ambushed the Lebanese Army on May 20,
Mrs. Hariri feels awful and has generously arranged with the Army to
provide full scholarships to all the children of the killed soldiers, 61
as of June 13, 2007, for an average of 2 per day killed, with five times
that number wounded and more than 80 civilians killed.

Both Jund al-Sham and Fatah al Islam are joined together by friendship
and family with al-Sham supplying some of the initial fighters for
establishing FAI. It is also why so many checkpoints have now been set
up along the Sidon to Tripoli road, which funnels men and material in
both directions. The June 4, 2007 attack by JAS in Sidon’s Ein el Helwe
camp against the army was in direct response to the Army increasing
pressure on FAI in Nahr al-Bared.
JAS has admitted ties to the Hariri family and both JAS and FAS were
funded from the same spigot of Washington/Riyadh/Hariri (Welch Club)
money. The March 14th group, but particularly Saad Hariri, is now
calling for the complete destruction of both these Welch Club creations,
as is the Palestinian Authority envoy, Abbas Zaki, who wants increased
recognition for Palestinians and better conditions in Lebanon for the
420,000 Refugees. Zaki also wants policing authority for all of the 12
Palestinian camps in Lebanon. The Welch Club objects to Zaki’s proposal
because they fear the Palestinians will become too powerful and may even
demand representation in Parliament!

On May 22, 2006 the Welch club got orders from the White House to pull
the plug on the North Lebanon Sunni army project following the horrific
slaughter of May 20 when it became obvious that the Salafists were out
of control, more interested in fighting Israel than Hezbollah or the
Palestinians, and too many questions were being asked about who they
were, how they got into Lebanon and who arranged and eased their entry
and for details about one of the strangest " bank robberies" ever to
occur. On June 11, 2007, Michel Aoun, leader of the largest group of
Christians in Lebanon demanded a thorough investigation of the whole
Nahr al-Bared conflict and the involvement of the Siniora government.

As recently as May 2007, Al-Akbar (Algeria) reminds us, that the Welch
Club was bad mounting the Lebanese army claiming it was too sympatric to
Hezbollah, had too many Shia in its rank and file and may not be up to
the job of protecting Lebanon, not from Israel of course but from ‘
internal dangers’.

The Bush Administration was in no hurry to help the Army. That has all
changed since the events of May 20 and Fatah al-Islam’s attack on the
army which condemned to futility the Northern Sunni Army project. No way
could these compromised Sunni Salafist groups be used by their sponsors
as the catalyst of the Northern Sunni Army, hence the new US interest in
the Army of the Republic of Lebanon.

Hence the Bush administration joined every would-be patriotic group in
Lebanon which supports the army publicly. The Bush administration
speeded up already paid for spare parts and ammunition for the Lebanese
army. In the coming months more than $230 million is to be directed to
Lebanon for the army from Washington with financing available, not gifts.

The new Bush administration largess for Lebanon’s army should be kept in
perspective and not confused with military and economic aid to Israel .
Over the past 10 years average US aid to Lebanon (mainly for
reconstruction following Israeli attacks with US weapons) has been
approximately $ 33 million per year. Compared with $ 15.1 million per
day to Israel for an annual average of 5.7Billion. Indeed, Israel ,
slightly larger than Lebanon, makes up roughly 0.06% of the Worlds
population but receives more US aid than all of South America, Central
America and Africa (minus Egypt) combined. Of total US foreign aid to
the other 195 countries members of the UN, Israel gets more than a
quarter of the entire US foreign aid budget. Or looked at another way,
each Israeli family receives approximately $ 6,000 in US aid per year,
American families $3,300 and Lebanese families $ 12. The Palestinians
get 29 cents per family.

According to Beirut press reports of 6/12/07, a Lebanese Army official
stated during an interview with the Daily Star, "We (the Lebanese Army)
also suspect that the U.S. is putting pressure on other Western and Arab
countries to not supply us with weapons, and to only provide us with
ammunition and vehicles for logistical support."

He said that a military aid package pledged by Belgium late last year,
which included 45 Leopard-1 tanks, 70 armored personnel carriers and 24
M109 self-propelled guns, had suddenly gone to another country with no
clear explanation from Brussels.

"Officials in Belgium had made the pledge… and we had made all the
needed arrangements before they suddenly changed their minds and said
they sold the weapons to another country," said the official.

A Belgian Ministry of Defense official said June 8 that ´the donation of
equipment was canceled because of the Belgian government’s worries about
the political-military situation in Lebanon" Translation: The Bush
administration worries it may be used against Israel.

The same Bush Administration shackling of the Lebanese army occurred
with the nine French Gazelle attack helicopters donated by the United
Arab Emirates (UAE) which can be seen daily whizzing along the campus of
the American University of Beirut up the coast to Nahr al Bared. The
Gazelles arrived with 20mm machine guns but without HOT antitank
missiles. The Lebanese army states they were told that" the missiles
were not included because they were old and needed replacing" According
to former long time UNIFIL, spokesman, Timur Goksel, now lecturing at
AUB, it’s a simple and quick matter to stick on the missiles".
Nevertheless, without the missiles the LAF sends the Gazelles into
action against Fatah Al-Islam in the Nahr Al-Bared refugee camp with
machine guns, basically to chase snipers off rooftops.

Many in Lebanon believe that the Lebanese army is being designed by
Washington and Tel Aviv to be an internal Welch Club police force with
the capability to fight the Palestinians or Hezbollah if need be, but
definitely not to be given arms necessary to protect Lebanon from Israel.

The past three weeks have seen numerous arrests of Palestinians by the
Lebanese army outside of Nahr al Bared and between Tripoli and Beiut
with reports of torture. Human Rights Watch condemned these practices
yesterday and if they don’t cease the Army may lose much of the goodwill
it has been receiving from the public.

Two weeks ago Hezbollah’s Secretary-General Hassan Nassrallah warned the
need to respect a ‘red line’ on attacks on the Army as well as entry
into Nahr al-Bared. Criticized at the time in some quarters, Nassrallah
appears to have been correct in his counsel in light of the high
casualties and humiliation being suffered by the army and the
destruction of al-Bared and civilian casualties.

A just released study by the Fafo Institute for Applied International
Studies focused on the socio-economic profile of Nahr al-Bared and
concluded that approximately "half" of the employed residents of Nahr
al-Bared may lose their jobs and incomes as a result of the conflict.
"Unlike other refugee camps in Lebanon , the majority of the refugees in
Nahr al-Bared worked within the camp," Age A. Tiltnes, the study’s
researcher and Middle East coordinator, reported.

Prior to the conflict, 63 percent of the labor force in Nahr al-Bared
worked inside the camp. The study lists "physical destruction" as the
main difficulty refugees will face when trying to resume their previous
jobs. Two thirds of the businesses will be prevented from functioning
because of the copious destruction: demolished buildings, including
offices, workshops and stores, as well as ruined roads and a broken
sanitation and electricity infrastructure.

"They will have no jobs and no livelihood once they go back," said
Tiltnes, adding that "investments and external help" will be needed to
get the displaced back on their feet. With most of the schools in Nahr
al Bared destroyed, some 5,000 school children are without classrooms (a
third of the residents of al Bared are younger than 15 and nearly half
under 20).

Further fallout from the failed "Sunni army" project includes increasing
evidence that the Bush administration is playing the same role in
Lebanon as it is in Iraq. The Iraqi Shia leader Moktada Sadr claims the
US is behind the sectarian violence in Iraq and the schism between Iraqi
ethnic groups and the country’s economic hardships. He is calling for a
"cultural resistance” against US influences and what he called the US
attack on Islam.

Sadr’s views are resonating in Lebanon where increasingly the various
confessions are realizing that the Bush administrations "great support
for Lebanon’s young Democracy" may be short lived and quickly abandoned
if the Lebanon continues to resist Israel.

In Iraq , where the Islamic Army is one of the strongest and
best-organized Sunni armed groups, responsible for dozens of attacks on
American forces, and at odds with al-Qeada, both groups appear to have
settled their differences and have united against the Bush
administration occupation. It appears quite likely that, despite
yesterdays attack on the Shia Imam el-Askary Mosque Sunni and Shia
groups in Lebanon will be able to avoid continued internecine warfare.

In Lebanon , evidence of Sunni, Shia, and Christian mutual tolerance was
heard in last Sunday’s Sermon (6/10/07) by the Maronite Patriach
Nasrallah Sfeir, in east Beirut.

The Maronite Patriarch sounded conciliatory towards the Muslim
population including Hezbollah, appearing mindful of the positive
Shia-Christian friendship and cooperation which was encouraged by the
vanished Imam, Musa al-Sadr, who worked with the Christian leadership in
the Sidon area, sometimes delivering sermons in Churches and
participating in a Christian wedding. The Maronite Patriach is aware
that during the July 2006 war there were many occasions when Christians
gave refuge to Shia neighbors during the Israeli attacks. Cases such as
in Aita al-Shaab when following days of Israeli artillery and bombing
some of the residents were able to emerge from shelters and make their
way to the nearby Christian village of Rmeish where they were sheltered.
Israel sometimes appears to avoid bombing Christian villages except in
cases like Qana. Shia protection for Christians includes efforts during
the 1860’s Druze massacres of Christians in the mountains east of Beirut
to help the latter move to safety in South Lebanon, as well as the Shia
Fatwa issued at the time of the Turkish massacres of Armenians in 1906
stating that it was the religious duty of Muslims to aid and protect the
Christians.

One of the lasting impressions of some Americans from the July 2006 war
in Lebanon was the site of Muslim Hezbollah soldiers, protecting
Christians seeking shelter, from Israel soldiers and bombs, inside their
Holy Grotto at Qana where according to Christian tradition, the Virgin
Mary asked her son Jesus to make wine for poor villages who gathered
from surrounding villages to watch the event.

Some of us forget the two millennia of close friendships among all
religions in the "northern holy land" of Lebanon where Jesus frequently
visited friends to escape the hostility of the Sarihedrin to the South
and to enjoy the villages and the sea at Tyre and Sidon.

When Pope Benedict spoke with President Bush the other day and expressed
his concern over the safety of Iraq’s Christians, it included his angst
over the 18,000 Iraqi Christians estimated to have been killed by US
bombs and artillery. Many Iraqi Christians are making their way to Syria
and Lebanon given these countries traditions of religious tolerance.

And the blowback continues….

Franklin Lamb’s recent book, The Price We Pay: A Quarter Century of
Israel’s use of American Weapon’s against Lebanon (1978-2006) is
available at Amazon.com.uk. Hezbollah: A Brief Guide for Beginners is
expected in early summer.

Dr. Lamb can be reached at [email protected].

b06152007.html

http://www.counterpunch.org/lam

Resettlement Is Urgent

RESETTLEMENT IS URGENT

KarabakhOpen
15-06-2007 11:25:48

"I think resettlement of liberated territories is urgent. But it
requires immense funds and human resources," said the chair of the
Committee of Defense, Security and Law Enforcement Rudolf Martirosyan.

"It depends on which territories are resettled. Resettlement of border
territories is dangerous, and people should be granted privileges to
go and live there. You cannot make people live somewhere. First you
must provide conditions. If there are already villages where people
live, it is necessary to create conditions for them," said Rudolf
Martirosyan. He also emphasized since the Karabakh problem has not
been settled yet, the solution of many other problems is delayed. Many
think if they live in these territories, which may become an object
of trade, they will lose years.

According to Rudolf Martirosyan, the resettlement of liberated
territories after the cease-fire did not become a government policy,
it was not regulated. "Most people who settled in these territories
had been displaced from Azerbaijan. When they started living in
these territories, necessity occurred to provide conditions, and the
government took care of it. Independent from how long people will live
here, communities will be created or not, the international community
must acknowledge this reality, and this issue need not be negotiated
or used as small change," says the members of parliament.

"No patch of land will be returned," the member of parliament said in
connection with the liberated territories: He says there can always
be a compromise but it has to be decided in negotiations, not in the
media or statements of some politicians.

"Azerbaijan makes such claims, and the Karabakh side must not hurry
to state it is ready to return some territories. I see no need in
such discussions. These issues should be negotiated, and Karabakh
should take part in it," he said.

Armeconombank’s Profit Grows By 30.4% In 2006 On Previous Year

ARMECONOMBANK’S PROFIT GROWS BY 30.4% IN 2006 ON PREVIOUS YEAR

Noyan Tapan
Jun 15 2007

YEREVAN, JUNE 15, NOYAN TAPAN. 2006 was a successful year for
Armeconombank in terms of achieving a stable growth of its main
indices, increasing the volume and range of provided services
and expanding the cooperation with international financial
organizations. The bank’s chairman Davit Sukiasian said at the June
15 annual meeting that last year Armeconombank’s profit grew by 30.4%
on 2005 and made 1 billion 571 million drams (about 4.5 mln USD),
its overall capital – by 21.3% to 6.1 billion drams.

According to him, 2006 was most efficient from the viewpoint of
expanding plactic card services. Occupying almost half the market of
ArCa plastic cards, the banks provided about 13,100 cards in 2006,
increasing their total number to more than 40,900. The bank currently
services nearly 46.4 borrowers, it has about 2,000 depositors.

The speaker noted that Armeconombank is the only Armenian bank to
have 1,430 shareholders and has paid dividents to its shareholders
for the fifth consecutive year.

Atlantic Eye: Putin’s Bush-Whack

ATLANTIC EYE: PUTIN’S BUSH-WHACK
By Marc S. Ellenbogen – UPI International Columnist

United Press International
June 14 2007

PRAGUE, Czech Republic, June 14 (UPI) — Last week in the German
resort town of Heiligendamm, U.S. President George W. Bush had a key
anchor of his strategic security policy submitted to a reality check.

At the Group of Eight Summit, Russian President Vladimir Putin
proposed a joint U.S.-Russia anti-missile shield be placed at an
existing radar station in Azerbaijan, instead of the Czech Republic
and Poland. Caught off-guard by the Russian leader’s offer, Bush
mustered a confused look into the cameras.

Putin’s offer is not just a brilliant tactical maneuver; it is a
proposal that merits serious consideration.

Putin’s proposal would put the radar warning and control system for
the missile defense in Azerbaijan. Azerbaijan was part of the Soviet
Union and shares a 268-mile (432 kilometer) border with Iran. The
idea is to use an existing radar facility installed by the old Soviet
government in Gabala, Azerbaijan. The facility is still being used
by the Russian armed forces in accordance with a special agreement
with Azerbaijan. According to Putin’s offer, the Gabala radar would
now be under the joint control of the U.S. and Russian military.

Oil-rich Azerbaijan gained independence in 1991 amid political turmoil
and against a backdrop of violence in Nagorno-Karabakh. It has been
famed for its oil springs and natural gas sources since ancient
times, when Zoroastrians, for whom fire is an important symbol,
erected temples around burning gas vents in the ground. It borders
the Caspian Sea.

Azerbaijan has a population of 8.4 million people, and is about the
size of Illinois, and somewhat larger than Austria. Its capital is
Baku and the main languages are Azeri and Russian. The major religion
is Islam. Per capita income is $1,240 (compared to the United States’
$44,200). At the beginning of the 20th century, Azerbaijan supplied
almost half of the world’s oil. Azerbaijan has vast gas reserves,
but still imports from Russia. There have been tensions with Russia
over pricing and direct transfer to the West. Azerbaijan is becoming
an alternative energy hub for Europe and is the third-largest oil
producer in the former Soviet Union. It opened oil and gas pipelines
that circumvent Russia during the past year.

Azerbaijan became a member of the Council of Europe in 2001. Ilham
Aliyev took over as president from his father, Heydar, in 2003. Often
accused of corruption and election-rigging, ruling circles walk a
tightrope between Russian and Western regional geo-strategic interests.

As the Soviet Union collapsed, the predominantly Armenian population
of the Nagorno-Karabakh region stated their intention to secede
from Azerbaijan. War broke out. Backed by troops and resources from
Armenia, the Armenians of Nagorno-Karabakh took control of the region
and surrounding territory. In 1994 a cease-fire was signed.

About one-seventh of Azerbaijan’s territory remains occupied, while
800,000 refugees and internally displaced persons are scattered around
the country. It is still an unsettled political issue that receives all
too little attention from the international political agenda. There’s
an urgent imperative to resolve the Nagorno-Karabakh conflict before
it flares up the southern Caucasus at the very same time the need
for stability — crucial for the development of Azerbaijan’s energy
resources — is of paramount importance for the West. The deputy
speaker of the House of Lords, Baroness Cox, is well known for taking
up the plight of Nagorno-Karabakh.

I remember a meeting one year ago with Czech Deputy Prime Minister
Alexandr Vondra, who was foreign minister-designate at the time. He
asked me what I thought of the missile shield. Sasha is an old
Washington hand — he had been Vaclav Havel’s ambassador and a young
dissident during the communist period. I told him I supported the
concept, but felt the United States had done a bad job of briefing
the alliance, never mind the Russians. I also told him I thought the
shield should be in Romania.

He gave me one of his wry grins — something he is famous for —
and asked me what I would do if the Democrats got elected in 2008. I
stated that he was making a bold presumption that I would have anything
to say — never mind the power to influence. He gave me his wry grin
again. I promised him that I would support the stationing of the system
in the Czech Republic because I am a supporter of the country and
its vested interests, not because I felt it was the best strategic
decision. For the Czechs, the shield is a good thing economically
and geo-politically.

Sasha, I would still uphold my promise, but the Azerbaijan proposal
is a good one. It brings the Russians into the fold. You and I both
agree that this is important. It places the shield in a location that
is perfect to strike at the heart of Islamists and terrorism. It would
bring a new dynamic to the relationship between the United States and
Russia, which is important and has been seriously deteriorating. But
most importantly, it makes absolute and complete strategic sense.

As I sat with UPI’s Editor Emeritus Martin Walker and Seffi Bodansky of
the Congressional Task Force on Terrorism and Unconventional Warfare
last week in Washington, we of course got to the topic of the Putin
proposal. We noted that it was Bush who voided the 1972 Anti-Ballistic
Missile Treaty, which allowed the United States and the Soviet Union
a limited number of defense installations.

Yet another presidential miscalculation; this one opened the door to
the Russians’ more aggressive economic and security parlance.

It was Walker who noted, "Yes, the president got Bush-whacked in
Prague." And so he did indeed.

BAKU: ICRC Representatives Meet With Armenian Captive

ICRC REPRESENTATIVES MEET WITH ARMENIAN CAPTIVE

Azeri Press Agency, Azerbaijan
June 14 2007

Representatives of the International Committee of the Red Cross (ICRC)
met with Armenian Valeri Suleymanyan recently captured by Azerbaijani
armed forces, ICRC office in Azerbaijan told the APA.

The representatives concerned themselves with his detention conditions
and psychological state.

This is the second meeting of the committee representatives with
the captive.

Suleymanyan asked Azerbaijani government to send him to a third
country.

Suleymanyan said that all Karabakh Armenians are tired of the military
regime illegally operating in the occupied Azerbaijani territories,
and poverty. Armenians living there try escape to other places.

BAKU: Azerbaijan’s Political Parties Comment On Joint Use Of Russian

AZERBAIJAN’S POLITICAL PARTIES COMMENT ON JOINT USE OF RUSSIAN-LEASED AZERBAIJAN GABALA RADAR STATION WITH THE US

Trend News Agency, Azerbaijan
June 12 2007

Azerbaijan, Baku / corr. Trend S.Ilhamgizi / The political parties of
Azerbaijan comment differently on the Russian President’s proposal on
the joint use of the Russian-leased Azerbaijan Gabala Radar Station
with the US.

The opposition Musavat Party considers that the optimal variant for
Azerbaijan is to liquidate the Station. If talks begin on the joint use
of the Gabala Radar Station with the US, Azerbaijan should join the
talks as the owner of the Station. "This issue should be considered
under conditions of ensuring the security of Azerbaijan, including
ecological, political and other interests," Musavat Party states.

The Azerbaijan Democratic Party considers that if the USA accepts the
proposal of Russia, it will not affect the situation with the external
threats and the risk of reactors increasing within the Country.

"If an agreement is reached on the joint use of the Station, Azerbaijan
should use it in favor of itself and as a historical chance to fairly
resolve the Nagorno-Karabakh conflict. Azerbaijan should receive a
guarantee from the leasing countries for providing the Station with the
new technologies and ensuring the ecological and national interests of
Azerbaijan," Azerbaijan Democratic Party states. If these conditions
are not taken into consideration, the society of Azerbaijan should
make an initiative to close the Station, the Party considers.

The Azerbaijan Democratic Reforms Party considers that the joint use
of the Gabala Radar Station by two big countries fully corresponds
to the interests of Azerbaijan and increases the strategic importance
of the Country.