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My Blog

June 2015

A Populist Movement, Austere Realities: a Greek Tragedy - a Late Solution?

Populist movements often catch the attention and the ire of the prevailing status quo. They serve notice of impending and imminent change. Those reaping the benefits of the current state of affairs, often vehemently try to derail populist movements. But populist movements are commentaries of the inevitable, and any willful attempts to impede them could lead to more drastic and radical changes at a later time, which would pose even more severe adverse effects upon the status quo.

Hence, the rise of the Greek socialists under Prime Minister Alexis Tsipras - elected by the Greek people on an anti-austerity platform, to sway the affairs of Greece away from the status quo of having International Bankers dictate the social and fiscal polices of a nation in order to secure debt service and new credit.

A Defiant Greek Resolve Set Against the Austere Terms of International Bankers

Denied an increase in Emergency Liquidity Assistance(ELA) by the European Central Bank(ECB) on Sunday, Greece shuttered its banks and most ATMs today, limiting ATM withdrawals to $67 as part of a capital controls program to limit run-on-banks, while maintaining its resolve to offer to the Greek people the choice to accepting or rejecting the terms of international bankers as a means to securing loans and dire debt service.

Greece's five-year financial saga is approaching a climax - a climax that could be unprecedented in determining future relationships between nations and bankers.

Whatever the Final Outcome, the Greek Stance on Austerity Commands Respect

Whatever Greece decides as to the type of reforms required to stabilize its debts and to receive new loans, respect must be given to the oldest democracy for its stance to retaining its customs and its entitlements to its people despite demands from bankers for changes that could alter the Greek identity.

Moreover, Greece's non-immediate acceptance of terms with bankers as a prerequisite to new loans, demonstrates a strong intent by the Greeks to maintaining their sovereignty and not to be micro-managed by bankers of the Euro zone and of the International Monetary Fund(IMF).

Aye, the Splendor that was Greece...now an Imminent Austere Transformation

Greek history is rich of grandeur and splendor; of democracy and of the rights of man; of market places and of the arts. 

But the future of Greece remains uncertain and cloudy today, as austerity issues - brought to wrought by high debt, and non-traditional Greek terms, demand that the old democracy decides between modern economic models of debt service and the lending practices of international institutions, or on an untested theoretical model preferred by the Greeks toward continuity of their cultural, political and social norms over the reality of modern macroeconomics.

Enough Already: Repeated Terror Attacks upon Innocents now Demand Decisive Action

Terrorists struck down 27 innocent people on a beach in the Tunisian resort city of Sousse, earlier today, while in France, terrorists rammed a car into a chemicals company, beheaded an innocent and injured several. A Mosque, full of worshipers was attacked in Kuwait.

These three latest events perpetrated by terrorists, clearly underscore the need for more decisive and concerted efforts to return stability to regions, countries and places targeted and prone to terror attacks.

With regards to the attack in Tunisia, reports indicate that two gun men went onto the beach between two resort hotels and opened gunfire upon beach goers, mainly tourists, since most locals and Muslims were least likely to be on the beach during the observance of the Holy Month of Ramadan.

On the Instability of Nations Brought to Wrought by Austere Policies

In industrialized and developing nations, there exist a certain amount of patronage from government to the people in exchange for support given and as a means of rewarding loyalty. 

In developing nations, the practice has become part of the political culture. It is expected by the people. It is accepted by people. Thus, in some jurisdictions, the government, as the largest employer, is expected to maintain and to sustain such political patronage by awarding jobs with comfortable benefits including better than normal pension plans to the people.

The Dynamics of Modern Economics Bear Upon an Old Democracy - the Greek Dilemma

Debt is a major load to most individuals. To nations - heavily leveraged from the financial crisis of 2007-08, and forced to accept bail out money from monetary institutions, the load is even harder, more complex, destabilizing and a source of social discontent and dissent from Ireland, to Great Britain, to Spain, to Portugal and elsewhere now encompassing the oldest democracy - Greece.

Greece, like many other countries that have strong social connections to the people who expect political patronage, and where domestic policies have been established to appease and to console their beloved citizens, is finding out that the terms to borrowing money from international monetary institutions, runs adverse to domestic appeasing policies.

To Eradicate Poverty, Children Must be at the Fore of New Developmental Goals

That millions of the world's poorest children are denied a fair start in life and that unequal opportunities have left 600 million children living in extreme poverty, is more than sufficient reason that children must be at the core of all new Sustainable Development Goals to eradicating poverty by 2030.

The United Nations Children's Agency, UNICEF, yesterday called for children to be at the center of new development goals for 2030 warning that unless children are placed at the core of planning, many more will be left behind living in extreme poverty on less than $1.

Time - the Lone Remaining Variable Toward Stability in Ukraine

One year of Western sanctions imposed on Russia for annexing Crimea and for destabilizing Ukraine has done little to dissuade Vladimir Putin's intent on Ukraine. Reciprocal restrictions upon Western imports by Russia has brought some grumblings from a few European Union(EU) members fearing a reduction in revenue.

The Minsk II agreement between Ukraine, Russia and pro-Russian separatists has not been fully implemented. Fighting still continues in eastern Ukraine. Russia still annexes Crimea. And the prospect of an actuality of the Minsk agreement that calls for Ukraine to regain full control over its borders by the end of this year, looks grim.

The Stellar Hospitality of the Turks to the Syrian Displaced

In spite of dire circumstances of the increasing numbers of the world's displaced people, worthy of noted praise in the difficult job to housing so many people, has been the stellar hospitality Turkey has bestowed upon Syria's displaced.

Turkey -  providing haven to 1.8 million Syrians, houses the largest contingent of refugees worldwide and despite the high number, refugees in Turkey are "better off" than those housed elsewhere. This fact was revealed in April at the release of report by the SETA Foundation in Washington, DC, when Turkey's head of the Disaster and Emergency Management Agency(AFAD), Fuat Oktay, told a briefing in Washington that Turkey had been able to achieve such success housing so many refugees on a mere "$217 million" from the United Nations(UN).