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THE WEEKLY WORLD EDITION OF The Daily Telegraph AND The Sunday Telegraph
November 2 - 8 2011 No. 1058
WHO’S INCRISIS NOW? Rampant Arsenal put five past Chelsea
:: SPORT PAGE 48
Girl power New rules give daughters right to be Queen
By Bruno Waterfield in Brussels A €1TRILLION bail-out to save the EU’s single currency was in danger of unravelling last week.
Germany’s central bank warned that the rescue measure was too dependent on the high-risk deals that caused the economic crisis.
Just hours after an all-night summit of euro governments ended, flaws began to emerge in a package that was billed as a “grand and comprehensive” solution to the European debt crisis.
The concerns were led by Germany’s powerful central bank, which expressed fears that a plan to leverage a €440 billion eurozone rescue fund to amass a “fire power” of €1trillion, or £880 billion, resembled the risky finance methods that triggered the crisis in 2008.
European leaders are expected to sanction the establishment of a so-called special purpose investment vehicle, or SPIV, to be set up in the coming weeks.
It is aimed at attracting investment from countries such as China and Brazil.
Jens Weidmann, the president of the Bundesbank and a member of the European Central Bank, sounded the alarm over the plan to “leverage” the fund by a factor of four to five times without putting any new money into the pot.
He warned that the scheme could be hit by market
INSIDE Full coverage of eurozone debt crisis summit p32-33 Editorial comment p19
turbulence with taxpayers left holding the bill for risky investments in Italian and Spanish bonds.
“It is tied to higher risks of losses and to increased sharing of risks,” said Mr Weidmann.
“The way they are constructed, the leveraging instruments are not too different from those which were partly responsible for
Continued on page 2
The Duchess of Cambridge at her first solo engagement. Under the new rules, if she gives birth to a girl, the child would definitely become Queen, even if subsequent children are boys
THE Queen has spoken of the “potential” of women in society as Commonwealth politicians agreed a deal to allow first-born daughters to ascend to the throne.
The constitutional change, reforming succession laws dating back more than 300 years, means that if the Duke and Duchess of Cambridge’s first born is a girl, she will become Queen.
Speaking at the opening of a summit of the 53 Commonwealth countries in Perth, Western Australia, last week, the Queen said: “The theme this year is Women as Agents of Change. It reminds us of the potential in our societies yet to be unlocked, and encourages us to find ways to allow all girls and women to play their full part.”
David Cameron brokered the deal to scrap male primogeniture, where a girl in line to the throne is leapfrogged by a younger brother. The Queen has never expressed her opinion on the matter, but her words will widely be taken as an indication she backs the change.
Under the current rules of primogeniture, any male child takes precedence in the order of succession over his sisters. That would mean that any son born to Prince William would become King even if he had an older sister.
The Prime Minister said the rules were “outdated and need to change”. He said: “The idea that a younger son should become monarch instead of an elder daughter, simply because he is a man just isn’t acceptable any more.”
Last week, the Duchess of Cambridge carried out her first solo engagement at a private dinner when she stood in for her father-in-law, the Prince of Wales.
The Prince was due to attend the dinner in aid of In Kind Direct, one of his charities, at Clarence House. However, he was unable to attend because he was in Riyadh following the death of the Crown Prince Sultan.
A palace aide said: “The Duchess was so pleased that her first solo engagement was for the Prince of Wales, who has shown her so much support over the years.’’
Queen in Australia: page 5
Tory revolt Rebels shock Cameron over EU referendum :: NEWS P4
Yeates trial Jury finds Tabak guilty of murder, not manslaughter :: NEWS P6-7
Sir Jimmy dies Royal tributes to disc jockey Jimmy Savile :: NEWS P3
Best of British competition There’s still time to win an iPad2 :: SPORT P41