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231 - 240 from 772 . In "Opinion / Editorial"
The euro at twenty
TWENTY years ago, the single European currency, the euro was born. Though the actual cash would not appear for another 48 months, the eleven founder countries were each locked in value against the new currency.In the past, new currencies have been created to replace a failing predecessor. Never before had a single currency overnight become the sole means of exchange among so many different states. It was a remarkable maneuver which has now been extended to 19 of the 28 EU member states. After the US dollar, the euro is the world’s second largest reserve currency. A recent survey showed the currency is now widely accepted among the almost 342 million Europeans that use it. A generation has grown up knowing nothing of French francs, German marks and Italian lira.The euro’s creation was...
January 02, 2019

The euro at twenty

An unfortunate way to win
THE problem with democratic elections is that the results are likely to be disputed by the losers. Shenanigans with ballot boxes, maneuvers to stop supporters of one side actually voting, dishonesty in the count itself or disputes over the accuracy of electronic voting machines frequently bedevil the acceptance of the results.This is not just a problem for democracies in the Developing World. Even a US presidential election teetered on the brink of chaos after a dispute over Florida voting machines. In 2000, Republican candidate George W. Bush won the White House thanks to a nano-thin majority over Democrat opponent Al Gore. The Gore camp disputed the result and went to law. In the end the demanded manual recount was stopped by a Supreme Court ruling. Thereafter, even those Americans who...
January 01, 2019

An unfortunate way to win

Terrorism at year’s end
The location and timing of the bus attack in Cairo on Friday night, which killed four people, including three Vietnamese tourists, could not have been worse. It happened near the Pyramids, always a big draw for tourists. It is also the height of the tourist season and just as the tourism industry was picking up after the doldrums following the 2011 Arab Spring. In addition, it comes as the country’s main Christian minority, the Copts, who have in the past been terrorist targets themselves, prepare to celebrate Orthodox Christmas in early January.No one has claimed responsibility for the roadside bomb that detonated near a wall as the bus was passing by, but by all accounts the attack was an act of terrorism. Consequently, the day after the attack, Egypt’s Interior Ministry announced it...
December 31, 2018

Terrorism at year’s end

Sudan’s Arab Spring
Entering its 10th day, the demonstrations roiling Sudan have provided signs of an Arab Spring. What started out as protests after the government announced price rises for fuel and bread has morphed into broader calls for a change in the regime. In classic Arab Spring form, Sudan’s security forces have fired tear gas at protesters near the capital Khartoum. The government says 19 people have died during the anti-government protests but Amnesty International said 37 protesters have been shot dead.The demonstrators are targeting the economy that has seen a currency devaluation that has spiked prices, created fuel shortages and a steep rise in the price of bread, the staple Sudanese food. All the while, salaries have not increased much, leading to widespread anger and frustration.Sudan’s...
December 30, 2018

Sudan’s Arab Spring

Whale wailing
THE Japanese government has come under widespread international criticism for its decision to resume commercial whaling. Since 1986, the International Whaling Commission has effectively banned the hunting of whales, although Japan and other whaling nations, including Norway and Iceland were allowed to hunt ‘for scientific purposes’ some species of these undersea leviathans, that were not considered to be endangered. Japan has now also withdrawn from the IWC and, even though it is geographically very far from the North Atlantic, joined the North Atlantic Marine Mammal Commission which, besides Norway and Iceland, is also made up of Greenland and the Faroe Islands. While the IWC’s with its now-88 members, including landlocked countries such as Laos, the Czech Republic, Austria and...
December 28, 2018

Whale wailing

Economic winners and losers
The old year is closing with falling stock prices, influenced by the rising trade war between China and the United States. Analysts are predicting a major “correction” in international markets, even if Beijing and Washington manage to sort out their trading differences.But there are not simply losers in the changing economic mood. There are also winners. These, of course, include the short-sellers who more than anyone in recent years have turned the capital markets into a casino using investment tactics that include betting on share price falls. The original function of these markets, to raise capital for productive investment, seems a million miles away from the current shenanigans and the absurd risks they pose to overall financial stability. If there is another worldwide financial...
December 27, 2018

Economic winners and losers

Better disaster relief required
Ever since the 2004 Asian tsunami that killed almost a quarter of a million people in 14 countries around the Indian Ocean, governments and scientists have given considerable attention to the creation of an early warning system. The disaster 14 years ago came about when a massive subsea earthquake off the Indonesian island of Sumatra sent a series of tidal waves up to 30 meters high surging toward coastlines hundreds of miles away. It was one of the deadliest natural disasters of modern times.But there can be no early warning for those who live in the shadow of volcanic activity. Thus hundreds have died and thousands have been injured in Sumatran and Javanese coastal towns after a further undersea volcanic movement generated another tsunami. The cause of this tragedy on Saturday was Anak...
December 26, 2018

Better disaster relief required

The ayatollahs’ phony show trials
Throughout history, the classic resort of a failing regime has been to divert the rising anger of its people toward supposed enemies. More often than not this involves a war or the threat of war by conjuring up imaginary menaces from another state. Then, of course, there is always the option to turn on minorities such as Muslims or Jews, blaming them for hideous but nonsensical crimes. Iran has, however, rediscovered another option.Almost 40 years of rule by the economically-illiterate ayatollahs, coupled with the brazen corruption of the governing elite, have brought Iranians poverty and despair. In order to try to shift the gaze of an angry public away from its own incompetence, the regime has begun a series of high-profile corruption trials of selected individuals. The purpose of these...
December 25, 2018

The ayatollahs’ phony show trials

A plan ready for rejection
The US administration is poised to unveil its long-awaited Palestinian-Israeli peace plan early next year, January or February at most. Most people do not know the details of the plan but it is reportedly ready. Seeing that Israel and the US are joined at the hip these days, it’s all but certain Israel will agree to the deal. And given the stream of measures taken by the US administration against the Palestinians, they will surely reject it.US Ambassador to the UN Nikki Haley gave no details of exactly what is in the unpublished plan. She recently said it was much longer, contains much more “thoughtful detail” and “recognizes that realities on the ground in the Middle East have changed in powerful and important ways”.Indeed the situation has changed, so much so that the...
December 24, 2018

A plan ready for rejection

Gatwick bedlam
Until a man and a woman were arrested in connection with the string of drone sightings that brought Gatwick Airport to a standstill, the airport had closed, opened, closed and reopened again, all within three days. What boggles the mind is that British police and the armed forces were, until the arrests, at a loss to figure out who were flying the drones, what their motive was, how to apprehend them or whether the airport would close yet again. That this happened in the UK’s second largest airport during the busiest time of the holiday season, causing travel chaos for hundreds of thousands of passengers, made many wonder how something like this could ever happen in the first place.Before the arrests, the authorities were at their wits’ end as to what to do. Police considered shooting...
December 23, 2018

Gatwick bedlam

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