US Dollar falls ahead of ECB meeting






NEW YORK: The US dollar retreated Monday against the euro and other major currencies as financial markets girded for a meeting later this week of the European Central Bank.

The euro was valued at US$1.3115 dollars at 22H00 GMT Monday, up from Friday's value of US$1.3067 at the same time.

The US dollar was also lower against the Japanese yen, trading at 87.89 Monday instead of the 88.15 level on Friday night.

The quarterly earnings season unofficially kicks off Tuesday with the report from aluminium producer Alcoa. Several US Federal Reserve officials have public appearances this week.

Given the lack of US economic data to be released this week, "we believe that the US dollar will take its cue from earnings and comments from the Fed officials," said Kathy Lien of BK Asset Management.

After focusing heavily on the US due to the much-touted debate on the fiscal cliff, financial markets were beginning to turn to the euro again with Thursday's meeting of the ECB.

That said, Thursday's ECB meeting "offers little reason to be bullish (about) the euro," said Christopher Vecchio, currency analyst at DailyFX.

Vecchio noted that the euro had fallen after the November and December ECB meetings, which followed a September announcement by ECB President Mario Draghi of a program to keep Italian and Spanish borrowing costs down.

The euro did, however, pick up support on news that former Italian prime minister Silvio Berlusconi would not seek election during the Italian elections next month.

Watchers of the Federal Reserve will be looking for signs later this week in public appearances by the presidents of the Fed banks of Kansas City, Philadelphia and Richmond.

Minutes released by the Federal Reserve last week showed that the US central bank is considering ending its aggressive stimulus plan more quickly than expected. But some market watchers say the Fed will be unlikely to pull the plug on the program given last week's weak jobs report.

"The confusion created by the FOMC minutes makes this week's comments from Fed presidents extremely important because investors want to know how serious the central bank is about phasing out" its stimulus program, Lien said.

The US dollar fell against the Swiss currency, to 0.9212 francs from 0.9246 francs late Friday, while the pound rose to US$1.6114 from US$1.6068.

- AFP/jc



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Cisco adds 'cloud DVR' to video offering for cable companies



Cisco Systems unveils new functionality for its Videoscape platform that allows cable operators and other TV providers to deliver TV Everywhere.



(Credit:
CNET/Sarah Tew)


Cisco Systems is adding new capabilities to its video software platform for TV service providers. The new functionality, unveiled at a press conference at the Consumer Electronics Show Monday, will allow cable operators and other TV service providers to offer digital video recording from the cloud.



The new cloud-based DVR feature is part of Cisco's updated Videoscape Unity platform. The new software suite and service, which Cisco sells to cable operators and other TV service providers, aims to enable new functionality for paid TV customers.


One of the key new functions is to moves the DVR, which is typically a box that records movies and TV shows in your home, to the service provider's "cloud." This will allow video subscribers to record shows from any Internet connected device whether they're home or not. It also allows video subscribers to watch recorded programming on any Internet connected device. That will let viewers restart shows, catch up on past programs and play back their DVR from anywhere, on any screen. In theory, at least.


During the press conference Cisco's executives showed how this would work with an
HTC Droid DNA smartphone. This phone has 1080p video capability. And during the demo, the company showed how Cisco's Videoscape Snowflake user interface looked the same on the phone as it does on the TV screen. And then they showed how using the UI, a subscriber could access a video from cloud-based DVR on the smartphone and view it right on the phone.


The Videoscape Unity features also broaden the TV Everywhere concept by allowing subscribers to watch premium live and on-demand video on any connected device, regardless of where the viewer is located. Cisco is also adding the Connected Video Gateway, intended to serve as a single entertainment hub to distribute video to any connected device in the home.



Cisco has shifted its strategy in the past year to focus more attention on its software business. Cisco created Videoscape Unity by integrating its existing Videoscape platform with technology and assets it bought last year from video software and security provider NDS. The new "platform" is comprised of software and hardware components for the cloud, network and client solutions.


Cloud DVRs make sense
The most interesting aspect of the Videoscape Unity is the cloud-based DVR, which makes a lot sense on several levels. Not only does it allow for more flexibility in terms of viewing and recording programs, but it could offer consumers much greater storage. It also increases the number of programs that can be recorded at once, and is also more efficient and cost effective for cable operators.


But the idea of cloud-based DVR hasn't been without controversy. The TV and movie industry sued cable operator Cablevision in 2007 for implementing what it called a "networked DVR." Cablevision won its lawsuit in the U.S. Court of Appeals in 2008. And it has already been offering customers the option to record and store content in the "cloud" instead of on individual boxes in the home.


Even with Cablevision's court victory, digital rights for video content remains a complicated issue. Some movie studios and TV networks have been reluctant to allow cable operators to offer services that allow the distribution of content on portable devices outside the home. While the Cisco Videoscape Unity platform is designed to allow more access to more devices from anywhere, it's up to the cable companies and other TV service providers to determine how they will implement the services.


For example, Cox Communications, which had an executive at the Cisco press conference, plans to use the Cisco Videoscape Unity platform. But the company has not yet announced a service that will include cloud-based DVR capability.


As part of its Videoscape Unity announcement, Cisco invited several of its customers -- including representatives from Cox, and BSkyB, as well as content providers from Liberty Global, Fox TV and MLB.com -- to discuss the future of TV.


CNET's Casey Newton will be live-blogging the press conference at 2 p.m. PT. So you can follow along as the news is announced here:


CNET's live coverage of Cisco's 2013 CES press conference

Cisco will also be video streaming the announcement and panel discussion

starting at 2 p.m. PT.
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Newtown seen as factor in Ala. teen's bomb plot

PHENIX CITY, Ala. An Alabama teenager teen who described himself as a white supremacist made journal entries about a plot to bomb classmates three days after the Newtown school massacre and began building small homemade explosives, a sheriff said Monday.

Russell County Sheriff Heath Taylor told The Associated Press that he believed the shooting at Sandy Hook Elementary was a factor because the first date in the boy's journal describing the plan was Dec. 17 — three days after the Connecticut killings.

Seventeen-year-old Derek Shrout is charged with attempted assault after authorities say he planned to use homemade explosives to attack fellow students at Russell County High School.

Taylor said the boy told investigators that he's a white supremacist and five of the six students he named in his journal are black. The journal was found by a teacher, who turned it over to authorities.

A search of Shrout's home found about 25 small tobacco cans and two larger tins, all with holes drilled in them and containing pellets similar to BB's, reported CBS affiliate WRBL. Taylor said all they needed were black powder and fuses to become explosives. The journal also allegedly mentioned using firearms. The sheriff said Shrout's father owned a few household weapons, like a hunting rifle, a shotgun and a handgun.

"He just talks about some students, he specifically named six students and one faculty member and he talked about weapons and the amounts of ammunition for each weapon that he would use if he attacked the school," Taylor said.

The sheriff said he didn't believe the teen's initial claim that the journal was a work of fiction.

"When you go to his house and you start finding the actual devices that he talked about being made, no, it's not fiction anymore," Taylor said. "Those devices were — all they needed was the black powder and the fuse — he had put a lot of time and thought into that."

The teen, who is thin and wears glasses, said little during an initial court appearance Monday. District Judge David Johnson set bond at $75,000 and the teen's attorney said the family expected to post it by the end of the day for his release.

The judge ordered the teen not to contact anyone at his school, students or teachers, and not to use the Internet without parental supervision.

His attorney, Jeremy Armstrong, declined to discuss specifics of the case, but he did say that the talk of the case he has heard so far was "blown a little out of proportion."

"Our position is that our client had no intention to harm anybody," he said.

Seale is about 80 miles east of Montgomery.

More from CBS affiliate WRBL:

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Accused Shooter Was 'Relaxed' After Massacre













Two veteran police officers broke down on the stand today during a preliminary hearing for accused movie theater gunman James Holmes, with one officer choking up when he described finding the body of a 6-year-old girl inside the theater.


Sgt. Gerald Jonsgaard needed a moment to compose himself as he described finding the little girl, Veronica Moser Sullivan, in the blood splattered theater in Aurora, Colo.


An officer felt for a pulse and thought Veronica was still alive, Jonsgaard said, but the officer then realized he was feeling his own pulse.


A preliminary hearing for Holmes began today in Colorado, with victims and families present. He is accused of killing 12 people and wounded dozens more in the movie theater massacre. One of Veronica's relatives likened attending the hearing to having to "face the devil."


The officers wiped away tears as they described the horror they found inside of theater nine.


Officer Justin Grizzle recounted seeing bodies lying motionless on the floor, surrounded by so much blood he nearly slipped and fell.


Grizzle, a former paramedic, says ambulances had not yet made it to the theater, so he began loading victims into his patrol car and driving to the hospital.


"I knew I needed to get them to the hospital now, " Grizzle said, tearing up. "I didn't want anyone else to die."






Arapahoe County Sheriff/AP Photo











Aurora, Colorado Gunman: Neuroscience PhD Student Watch Video









Grizzle drove six victims in four trips, saying that by the end there was so much blood in his patrol car he could hear it "sloshing around."


Click here for full coverage of the Aurora movie theater shooting.


An officer who took the stand earlier today described Holmes as "relaxed" and "detached" when police confronted him just moments after the shooting stopped.


The first two officers to testify today described responding to the theater and spotting Holmes standing by his car at the rear of the theater on July 20, 2012. He allegedly opened fire in the crowded theater during the midnight showing of "The Dark Knight Rises."


Officer Jason Oviatt said he first thought Holmes was a cop because he was wearing a gas mask and helmet, but as he got closer realized he was not an officer and held Holmes at gunpoint.


Throughout the search and arrest, Holes was extremely compliant, the officer said.


"He was very, very relaxed," Oviatt said. "These were not normal reactions to anything. He seemed very detached from it all."


Oviatt said Holmes had extremely dilated pupils and smelled badly when he was arrested.


Officer Aaron Blue testified that Holmes volunteered that he had four guns and that there were "improvised explosive devices" in his apartment and that they would go off if the police triggered them.


Holmes was dressed for the court hearing in a red jumpsuit and has brown hair and a full beard. He did not show any reaction when the officers pointed him out in the courtroom.


This is the most important court hearing in the case so far, essentially a mini-trial as prosecutors present witness testimony and evidence—some never before heard—to outline their case against the former neuroscience student.


The hearing at the Arapahoe County District Court in Centennial, Colo., could last all week. At the end, Judge William Sylvester will decide whether the case will go to trial.






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Five accused in India rape case charged in court


NEW DELHI (Reuters) - Five men accused of raping and murdering an Indian student were read the charges in a near-empty courtroom on Monday after the judge cleared out lawyers for bickering over whether the men deserved a defense.


The 23-year-old physiotherapy student died two weeks after being gang-raped and beaten on a moving bus in New Delhi, then thrown bleeding onto the street. Protests followed, along with a fierce public debate over police failure to stem rampant violence against women.


With popular anger simmering against the five men and a teenager accused in the case, most lawyers in the district where the trial will be held refuse to represent them.


Before the men arrived for a pre-trial hearing on Monday, heckling broke out in a chamber packed with jostling lawyers, journalists and members of the public after two of the lawyers, Manohar Lal Sharma and V. K. Anand, offered to defend the men.


"We are living in a modern society," declared Lal Sharma, defending his decision. "We all are educated. Every accused, including those in brutal offences like this, has the legal right ... to defend themselves."


One woman lawyer prodded V. K. Anand in the chest, saying: "I'll see how you can represent the accused."


Unable to restore order, presiding magistrate Namrita Aggarwal ordered everyone to leave except the prosecution, and set police to guard the entrance.


She said the trial would now be held behind closed doors because of the sensitivity of the case.


FACES COVERED


Reuters video images showed the men stepping out of a blue police van that brought them from Tihar jail and walking, their faces covered, through a metal detector into the South Delhi court building.


The court was across the street from the cinema where the victim watched a film before she was attacked on her way home.


Aggarwal gave the men copies of the charges, which include murder, rape and abduction, a prosecutor in the case told Reuters.


Police have conducted extensive interrogations and say they have recorded confessions, even though the men have no lawyers.


If the men, most of them from a slum neighborhood, cannot arrange a defense, the court will offer them legal aid before the trial begins.


Two of them, Vinay Sharma and Pawan Gupta, have offered to give evidence against the others - Mukesh Kumar, Ram Singh and Akshay Thakura - possibly in return for a lighter sentence.


Mohan, describing what he called a heinous crime, said: "The five accused persons deserve not less than the death penalty."


The case has sharpened long-standing anger against the government and police for a perceived failure to protect women.


A male friend who was assaulted with the woman on December 16 said on Friday that passers-by left her unclothed and bleeding in the street for almost an hour and that, when police arrived, they spent a long time arguing about where to take them.


The woman lived for two weeks after her attack, dying in a Singapore hospital where she had been taken for treatment.


FAST-TRACK COURT


Aggarwal said the next hearing would be on January 10. The case is due to move later to another, fast-track court set up since the woman was attacked to help reduce a backlog of sex crime cases in Delhi.


Legal experts say the lack of representation for the five men may give grounds for appeal if they are found guilty. Convictions in similar cases have often been overturned years later.


Some legal experts have also warned that previous attempts to fast-track justice in India in some cases led to imperfect convictions that were later challenged.


The sixth member of the group alleged to have lured the student and a male friend into the private bus is under 18 and will be tried in a separate juvenile court.


The government is aiming to lower the age at which teenagers can be tried as adults, acknowledging public anger that the boy will face a maximum three-year sentence.


The victim was identified by a British newspaper at the weekend but Reuters has opted not to name her.


Indian law generally prohibits the identification of victims of sex crimes. The law is intended to protect victims' privacy and keep them out of the glare of media in a country where the social stigma associated with rape can be devastating.


The dead woman's father repeated on Monday that he wanted her identified and said he would be happy to release a photograph of her.


"We don't want to hide her identity. There is no reason for that. The only condition is it should not be misused," he told Reuters.


He said he was confident the trial would be quick and reiterated a call that the perpetrators be hanged.


(Writing by Frank Jack Daniel; Editing by Robert Birsel and Tom Pfeiffer)



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Golf: Play underway at wind-whipped Kapalua






MAUI: The US PGA Tour tried again to get the 2013 season underway Sunday, with players teeing off in the first-round of the Tournament of Champions after another four-hour weather delay.

After weather disrupted play on Friday and cancelled all action on Saturday, organisers of the season-opening event had hoped to start fresh with two rounds on Sunday and finish a tournament reduced to 54 holes on Monday.

But high winds led to a four-hour delay on Sunday, and when Matt Kuchar teed off on the 10th hole a gust knocked his ball off the tee.

"It's a little better ... very little," PGA Tour Vice President of Rules and Competition Slugger White said. "But we're going to try to go. If we have to stop we have to stop."

As of Sunday afternoon, officials hoped to play 18 holes on Sunday and 36 on Monday.

"It is still very windy, but it is a lot better weather today because it isn't raining out there," said tour rules official Jon Brendle.

"Getting in 18 today will be huge and then we can play 36 tomorrow to get in 54 holes and not have to bring Tuesday into play."

- AFP/jc



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Huawei at CES 2013: Join us Monday, 7:30 a.m. PT (live blog)

Join CNET for live coverage of Huawei's press conference, which starts at 7:30 a.m. PT Monday. Our live blog will bring you news updates, photos, and running commentary.




Follow along with CNET as we dive into Huawei's announcements for CES 2013. The press conference starts at 7:30 a.m. PT on Monday, January 7, and CNET will be there to cover it live. We have a live blog full of news and analysis.


You can tune in to the blog here:

CNET's live coverage of Sharp's 2013 CES press conference

Andrew Nusca mugshot
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NFL Playoffs: Ravens beat Colts 24-9

Anquan Boldin of the Baltimore Ravens scores an 18-yard touchdown reception in the fourth quarter against Darius Butler of the Indianapolis Colts, during the AFC Wild Card Playoff Game at M&T Bank Stadium on January 6, 2013 in Baltimore, Md. / Patrick Smith/Getty Images

BALTIMORE Anquan Boldin set a franchise record with 145 yards on five receptions, including the clinching touchdown, as Baltimore beat Indianapolis 24-9 in Sunday's AFC wild-card game.



The previously struggling Ravens defense was staunch, inspired no doubt by star linebacker Ray Lewis appearing in his final home game before retiring. Baltimore never let Colts standout rookie quarterback Andrew Luck get comfortable.





19 Photos


NFL Week 18: Playoff highlights



AFC North champion Baltimore (11-6) will play at AFC West winner Denver next Saturday. The Broncos beat the Ravens 34-17 three weeks ago.



The loss ended the Colts' turnaround season in which they went from 2-14 to the playoffs in coach Chuck Pagano's first year in Indianapolis (11-6). Pagano missed 12 weeks while undergoing treatment for leukemia and returned last week.



Offensive coordinator Bruce Arians, who went 9-3 as interim coach, was absent Sunday after being hospitalized with an undisclosed illness.


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GOP Leader McConnell: 'Tax Issue Is Finished'


Jan 6, 2013 10:19am







abc mitch mcconnell this week jt 130106 wblog Sen. Mitch McConnell: The Tax Issue Is Finished

                                                                                                            (Image Credit: ABC News)


Senate Republican Leader Mitch McConnell. R-Ky., Sunday said he will not accept any new revenue in future deals with congressional Democrats and President Obama.


“The tax issue is finished.  Over. Completed,” McConnell told me on “This Week.” “That’s behind us. Now the question is what are we going to do about the biggest problem confronting our country and that’s our spending addiction.


“We didn’t have this problem because we weren’t taxing enough,” McConnell added.


He blamed Obama and Democrats for waiting to resolve budget issues until the last minute.


Read a transcript of the full interview with Sen. Mitch McConnell HERE.


“Why we end up in these last-minute discussions is beyond me. We need to function,” McConnell said. “I mean, the House of Representatives, for example, passed a budget every year.  They’ve passed appropriation bills.


“The Senate Democratic majority and the president seem to like these last-minute deals.”


McConnell said that the biggest issue facing the country in the next year is the deficit and spending. And he predicted that the issue would occupy the congressional agenda in the first three months of the year, overtaking Obama’s other priorities, including gun control.


“But the biggest problem we have at the moment is spending and debt,” McConnell said. “That’s going to dominate the Congress between now and the end of March.  None of these issues, I think, will have the kind of priority that spending and debt are going to have over the next two or three months.”


On the expected nomination of former Sen. Chuck Hagel, R-Neb., as the secretary of Defense by Obama, McConnell said he would evaluate Hagel’s past statements before determining whether he could support his nomination in the Senate.


“I’m going to take a look at all the things that Chuck has said over the years and review that, and in terms of his qualifications to lead our nation’s military,” McConnell said. “The question we will be answering if he’s the nominee, is do his views make sense for that particular job?  I think he ought to be given a fair hearing, like any other nominee, and he will be.”


McConnell, who in 2008 praised Hagel for his clear voice and stature on foreign policy and national security, now says he will reserve judgment on his possible nomination until after a Senate confirmation hearing.


“I’m going to wait and see how the hearings go and see whether Chuck’s views square with the job he would be nominated to do,” he added.


Like “This Week” on Facebook here. You can also follow the show on Twitter here.



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Assad "peace plan" greeted with scorn by foes


BEIRUT (Reuters) - Syrian President Bashar al-Assad rejected peace talks with his enemies on Sunday in a defiant speech that his opponents described as a renewed declaration of war.


Although the speech was billed as the unveiling of a new peace plan, Assad offered no concessions and even appeared to harden many of his positions. He rallied Syrians for "a war to defend the nation" and disparaged the prospect of negotiations.


"We do not reject political dialogue ... but with whom should we hold a dialogue? With extremists who don't believe in any language but killing and terrorism?" Assad asked supporters who packed Damascus Opera House for his first speech since June.


"Should we speak to gangs recruited abroad that follow the orders of foreigners? Should we have official dialogue with a puppet made by the West, which has scripted its lines?"


It was his first public speech to an audience in six months. Since the last, rebels have reached the capital's outskirts.


George Sabra, vice president of the opposition National Coalition, told Reuters the peace plan Assad put at the heart of his speech did "not even deserve to be called an initiative":


"We should see it rather as a declaration that he will continue his war against the Syrian people," he said.


"The appropriate response is to continue to resist this unacceptable regime and for the Free Syrian Army to continue its work in liberating Syria until every inch of land is free."


The speech was seen by many as a response to U.N. mediator Lakhdar Brahimi, who has been meeting U.S. and Russian officials to try to narrow differences between Washington and Moscow over a peace plan. Brahimi also met Assad in Syria late last month.


"Lakhdar Brahimi must feel foolish after that Assad speech, where his diplomacy is dismissed as intolerable intervention," said Rana Kabbani, a Syrian analyst who supports the opposition.


The United States, European Union, Turkey and most Arab states have called on Assad to quit. Russia, which sells arms to and leases a naval base from Syria, says it backs a transition of power but that Assad's departure should not be a precondition for any talks.


REPETITIONS


Assad's foreign foes were scornful and dismissive of the speech: "His remarks are just repetitions of what he's said all along," said Turkish Foreign Minister Ahmet Davutoglu.


"It seems he's locked himself up in a room and only reads the intelligence reports presented to him."


British Foreign Secretary William Hague said "empty promises of reform fool no one". In a Twitter message, he added: "Death, violence and oppression engulfing Syria are of his own making."


EU foreign affairs chief Catherine Ashton said Brussels would "look carefully if there is anything new in the speech, but we maintain our position that Assad has to step aside and allow for a political transition".


The 47-year-old Assad, tall and mustachioed, in a business suit and tie, spoke confidently for about an hour before a crowd of cheering loyalists, who occasionally interrupted him to shout and applaud, at one point raising their fists and chanting: "With blood and soul we sacrifice for you, oh Bashar!"


At the end of the speech, supporters rushed to the stage, mobbing him and shouting: "God, Syria and Bashar is enough!" as a smiling president waved and was escorted from the hall past a backdrop showing a Syrian flag made of pictures of people whom state television described as "martyrs" of the conflict so far.


"We are now in a state of war in every sense of the word," Assad said in the speech, broadcast on Syrian state television. "This war targets Syria using a handful of Syrians and many foreigners. Thus, this is a war to defend the nation."


Independent media are largely barred from Damascus.


Giving the speech in the opera house, in a part of central Damascus that has been hit by rebel attacks, could be intended as a show of strength by a leader whose public appearances have grown rarer as the rebellion has gathered force.


Critics saw irony in the venue: "Assad speech appropriately made in Opera House!" tweeted Rami Khouri, a commentator for Lebanon's Daily Star newspaper. "It was operatic in its other-worldly fantasy, unrelated to realities outside the building."


DEATHS


The United Nations says 60,000 people have been killed in the civil war, the longest and bloodiest of the conflicts to emerge in two years of revolts in Arab states.


Rebels now control much of the north and east of the country, a crescent of suburbs on the outskirts of the capital and the main border crossings with Turkey in the north.


But Assad's forces are still firmly in control of most of the densely populated southwest, the main north-south highway and the Mediterranean coast. The army also holds military bases throughout the country from which its helicopters and jets can strike rebel-held areas with impunity, making it impossible for the insurgents to consolidate their grip on territory they hold.


Assad, an eye doctor, has ruled since 2000, succeeding his late father Hafez, who had seized power in a 1970 coup.


The rebels are drawn mainly from Syria's Sunni Muslim majority, while Assad, a member of the Alawite sect related to Shi'ite Islam, is supported by some members of religious minorities who fear retribution if he falls.


The conflict has heightened confrontation in the Middle East between Shi'ite Iran and Sunni Arab rulers, particularly those in the Gulf who are allied with the West against Tehran.


The plan unveiled in Sunday's speech could hardly have been better designed to ensure its rejection by the opposition. Among its proposals: rebels would first be expected to halt operations before the army would cease fire, a certain non-starter.


Assad also repeatedly emphasized rebel links to al Qaeda and other Sunni Islamist radicals. Washington has also labeled one of the main rebel groups a terrorist organization and says it is linked to the network founded by Osama bin Laden.


Diplomacy has been largely irrelevant so far in the conflict, with Moscow vetoing U.N. resolutions against Assad.


U.N. mediator Brahimi has been trying to bridge the gap, meeting senior U.S. and Russian officials to discuss his own peace proposal, which does not explicitly mention Assad's fate.


National Coalition spokesman Walid Bunni said Assad's speech appeared timed to prevent a breakthrough in those talks, by taking a position that could not be reconciled with diplomacy.


"The talk by Brahimi and others that there could be a type of political solution being worked out has prompted him to come out and tell the others 'I won't accept a solution'," Bunni said, adding that Assad feared any deal would mean his downfall.


(Additional reporting by Suleiman al-Khalidi in Amman, Gulsen Solaker in Ankara and Tim Castle in London; Writing by Peter Graff; Editing by Alastair Macdonald)



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