Germany and Estonia plan to submit a resolution to the UN Security Council on a global ceasefire during the coronavirus pandemic, to replace one drafted by France and Tunisia that the United States has blocked. AFP
Germany and Estonia plan to submit a resolution to the UN Security Council on a global ceasefire during the coronavirus pandemic, to replace one drafted by France and Tunisia that the United States has blocked. AFP
Germany and Estonia plan to submit a resolution to the UN Security Council on a global ceasefire during the coronavirus pandemic, to replace one drafted by France and Tunisia that the United States has blocked. AFP
Germany and Estonia plan to submit a resolution to the UN Security Council on a global ceasefire during the coronavirus pandemic, to replace one drafted by France and Tunisia that the United States ha

Coronavirus: new resolution on pandemic ceasefire presented to UN


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Germany and Estonia submitted on Tuesday a resolution to the UN Security Council on a ceasefire in various conflicts around the world during the coronavirus pandemic, to replace one drafted by France and Tunisia that the United States has blocked.

Encompassing five major points – compared to the previous draft's nine – the proposal by the two non-permanent members of the Security Council "demands a general and immediate cessation of hostilities in all situations on its agenda".

Such a move is intended to help some 20 countries in crisis or at war battle the coronavirus, but it is unclear if concrete steps on the ground have been taking.

The resolution borrows from the French-Tunisian proposal, using language agreed upon by the 15 Council members during negotiations that have been ongoing since March or that had been used in previous resolutions, such as making ceasefire exceptions to battle jihadist groups.

As in the French-Tunisian resolution, the new proposal calls for a "humanitarian pause for at least 90 consecutive days" in order to allow for the delivery of aid to the hardest-hit communities.

A date has not yet been set for the vote, but it could happen quickly if none of the five permanent Council members threatens to use its veto, as when Washington criticised the mention of the World Health Organisation (WHO) in the French-Tunisian resolution.

The German-Estonian text makes no mention of the WHO, so the uncertainty resides with China, which until the last minute insisted on a reference to the UN health group, even an implicit one.

The new resolution was proposed on Tuesday during a teleconference held behind closed doors and organised by Estonia, which holds the rotating presidency of the Security Council. The resolution was submitted in the afternoon.

One of the diplomats, speaking on condition of anonymity, said China declared in the meeting that it backed swift action in the council.

At the end of last week, Beijing and Washington both denied responsibility for the breakdown of negotiations led by Paris and Tunis.

The US stunned the Council on Friday by blocking the resolution from going forward, stating that Washington "cannot support the current draft."

The reversal came a day after Washington had agreed to the text, negotiators said on condition of anonymity.

The US State Department said the Security Council "should either proceed with a resolution limited to support for a ceasefire, or a broadened resolution" that addressed the issues of transparency and responsibility. The State Department also accused Beijing of blocking any efforts to reach consensus since March.

Washington had threatened to use its veto if there were any explicit reference to the World Health Organisation, which US President Donald Trump has accused of downplaying the seriousness of the virus outbreak that began in China.

Diplomats say that at the same time Beijing had brandished its own veto if the global health body were not mentioned, before ultimately accepting an implicit reference.

"We must find a way out from this deadlock," Estonia's ambassador to the UN, Sven Jurgenson, told AFP.

"It is (a) real shame that we, the Security Council, have not been able to fulfil our responsibility on this matter," he said, adding he hoped to quickly come to an agreement.

For two months, "despite the differences in positions and perceptions that still hinder consensus, discussions among member states have been important and constructive," Tunisia's UN Ambassador Kais Kabtani told AFP.

"Tunisia never gave up hope in achieving compromise and winning approval for the first Security Council resolution since Covid-19 started ravaging the globe," he said.

One diplomat, speaking anonymously, said it was time to turn the page after the first resolution failed.

Another diplomat, also speaking on condition of anonymity, added it was necessary to get the ball rolling again.

But after two months of silence from the Security Council, the damage is done, he said, noting it was unfortunate that the human tragedy caused by the pandemic did not rapidly rally support for the UN chief's call for a ceasefire in various conflicts around the world.

UN Secretary-General Antonio Guterres' appeal on March 23 was somewhat heeded in some countries, but violence has since resumed or intensified, particularly in Afghanistan, Yemen and Libya.

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How to keep control of your emotions

If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.

Greed

Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.

Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.

Fear

The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.

Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.

Hope

While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.

Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.

Frustration

Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.

Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.

Boredom

Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.

Tip: Open an online demo account and get your thrills without risking real money.