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Solve the following problem using Python, implementing the functions described below, one line at a time
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Description:
 def setup_logging(args):
 """ Sets up basic logging :param args: ArgParse arguments :return: nothing. sets logger up globally """

    loglevel = logging.WARNING
    if args.verbose:
        loglevel = logging.INFO
    if args.debug:
        loglevel = logging.DEBUG

    console = logging.StreamHandler()
    logging.getLogger('').setLevel(loglevel)
    console.setFormatter(logging.Formatter(LOG_FORMAT))
    logging.getLogger('').addHandler(console)