Europe cannot afford a Greek default

Europe cannot afford a Greek default

By Simon Tilford

Published: January 14 2010 20:11 | Last updated: January 14 2010 20:11

The eurozone cannot afford to make an example of crisis-hit Greece.

Claims by officials and politicians in the currency bloc’s fiscally more robust economies – including Wolfgang Schauble, Germany’s finance minister – that the Greeks will have to find their own way out of the crisis, are not credible. They ignore the fact that Greece’s problems cannot be solved by it alone. Nor would a Greek default be the cleansing experience that many people in the stronger member states appear to imagine.

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EU asks Greece for more detail

Unconvinced by the government's broadly outlined policies, investors and rating agencies have long asked for more details on Greece's deficit-cutting policies. Rating agencies have warned they may cut Greece's rating further if they are not satisfied with the measures and their implementation.

Lefteris Papadimas

Athens Reuters
Published on Thursday, Jan. 07, 2010 9:50AM EST
Last updated on Thursday, Jan. 07, 2010 9:53AM EST

EU asks Greece for more detail
Wants Greece to quantify fiscal measures, spell out timetable

A European Union inspection team has asked Greece for a more specific three-year plan to shore up the country's ailing finances, government officials said on Thursday.

Hammered by markets over ballooning deficits and debt, Greece has pledged to cut its double-digit budget gap to below the EU's 3 per cent of GDP limit by 2012 and EU officials are on a three-day visit to Athens to inspect the plan.

“They asked us to quantify the results of the measures and to include this in the stability plan,” said a senior government official speaking on condition of anonymity.

Greek officials said the EU team was particularly interested in Greece's twin deficits – budget and current account – and also asked for a more specific timetable of when the measures would start to pay off.

Unconvinced by the government's broadly outlined policies, investors and rating agencies have long asked for more details on Greece's deficit-cutting policies. Rating agencies have warned they may cut Greece's rating further if they are not satisfied with the measures and their implementation.

Greek markets were hit at the end of 2009 by concerns about the country's fiscal deterioration after the new socialist government revealed the budget deficit would reach 12.7 per cent of GDP in 2009, more than twice previous forecasts.

Greece is also set to become the EU's most indebted country this year, with debt rising to 124.9 per cent of GDP according to EU data.

The 10-year Greek bond yield was stable versus Bunds at 227 basis points in midday trading versus 226 basis points at the European settlement close on Tuesday. Greek markets were closed on Wednesday.

The Greek government has already announced a series of measures, including a 10-per-cent cut in supplemental public sector wages, and a 10-per-cent reduction in social security expenditures this year.

Officials ruled out on Thursday a VAT tax hike.

Unions have warned they will strike early next month if the measures eventually taken hurt incomes and benefits further.

“Many critical points remain unclear but we estimate that from the cut of supplemental allowances we will have a reduction of 3-4 per cent in public sector salaries,” said Spyros Papaspyros, president of the ADEDY public sector umbrella union.

“With some of the tax law changes, some categories may suffer a reduction of over 10 per cent,” he told Reuters.

ADEDY and its private sector sister GSEE said they plan a major nationwide strike in early February if the final plan submitted to Brussels at end January includes tough measures.

Greeks, fed up with consecutive government's failure to shore up the economy, appeared ready to take to the streets if the EU's bitter medicine was not distributed fairly.

“I don't trust the plan or the measures. I have the feeling they will take money from the poor again,” said Stavros Gikas, 26, a mechanical engineer in central Athens. “People will go out on the streets again to protest.”

In a sign of increasing pressure on Greece to get its finances back in order, European Central Bank Executive Board member Juergen Stark warned on Wednesday that the EU would not save Greece if its debt problem worsened.

But analysts said Stark's comments did not necessarily mean the EU would refuse to assist Greece if aid became necessary to prevent a debt default.

THE GLOBE AND MAIL

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Von Wien nach Kalavryta

Von Wien nach Kalavryta. Die blutige Spur der 117. Jäger-Division durch Serbien und Griechenland

German Finance Minister Wolfgang Schaeuble ruled out European Union aid for Greece, the Boersenzeitung newspaper reported, citing an interview.

Manolis Glezos and Leonidas Kyrkos are asking Germany to pay out a compensation
of $7.1 M for WWII damages which Greece suffered from Nazi Germany.

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HAPPY NEW YEAR!!!

 

 

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Germans argue over integration

Decades of consensus about a multicultural society have been thrown into question recently as leading German politicians suggest that minorities living in the country need to do more to fit in.

Many Turks found work during Germany's economic miracle

"The notion of multiculturalism has fallen apart," said opposition conservative leader Angela Merkel in a recent interview.

"Anyone coming here must respect our constitution and tolerate our Western and Christian roots."

It was just one of a chorus of voices, from left and right, among politicians and the media.

The debate centres largely around the three million-strong Muslim community - mostly Turkish, with Bosnians making up the next largest group, followed by people of Arab origin.

It was sparked by the killing of Dutch film-maker Theo van Gogh, and subsequent attacks in the Netherlands on Muslim and Christian sites.

Fears that something similar could happen in Germany were fanned by a TV broadcast in which a secret recording caught an imam telling worshippers that Germans would "burn in hell" because they were unbelievers.

This has been followed by a raft of new proposals for better integration of the Muslim community, against a backdrop of fears that Muslims in Germany inhabit a "parallel society" centred around mosques infiltrated by "hate preachers".

If multiculturalism means that it's OK for 30,000 Turks to live in a certain quarter of Berlin, and never leave, and live like they're still in deepest Turkey, then the term is now discredited Nikolaus Blome Die Welt newspaper

"A democracy cannot tolerate lawless zones or parallel societies," declared Chancellor Gerhard Schroeder. "Immigrants must respect our laws and acknowledge our democratic ways of doing things."

Another politician suggested it should be compulsory for imams to preach in German, and sections of the media have judged that the debate marks the end of multiculturalism.

"It's a quite frank debate on what we Germans expect of those people coming to us as immigrants," says Nikolaus Blome, commentator with Die Welt newspaper.

"If multiculturalism means that it's OK for 30,000 Turks to live in a certain quarter of Berlin, and never leave, and live like they're still in deepest Turkey, then the term is now discredited."

Mood shift

The debate shows a marked swing in the atmosphere in Germany.

Four years ago, a conservative politician was attacked from all sides for suggesting the country has a Leitkultur or "leading culture".

As this previously unacceptable term resurfaced, former Chancellor Helmut Schmidt caused further furore by suggesting that the decision to invite "guest workers" to Germany in the 1960s had been a mistake.

Poor command of the German language among Muslims has been singled out for particular criticism.

When tens of thousands of Muslims took part in a protest against terrorism in Cologne recently, the German politicians who addressed the crowd gave them a blunt message: "Learn German."

A new immigration law which takes force from 1 January contains compulsory language and civic lessons for new arrivals, but critics point out there is nothing for people from ethnic minorities who are already here.

No help

Erol Ozkaraca lives in the Berlin district of Reinickendorf, where the population is a mix of Germans, Turks and people from the former Soviet Union.

Switching off the Turkish TV channel broadcasting into his living room, and taking a contemplative drag on his cigarette, he declares: "Germany has never been a multicultural society. The concept of multi-culturalism was never given a chance here."

Mr Ozkaraca, a lawyer by profession, was born in Hamburg. His father came to Germany as a student in 1949, long before the "guest workers".

"These politicians say: They don't speak German, they don't want to be part of German society, and they have their own structures. But I ask: Where are the courses where we can learn German? Where is the help to integrate us, to show - you are welcome and we want you here?"


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Bartholomew won the public

Wednesday, December 23, 2009
MEHMET ALİ BİRAND

We are arguing about Patriarch Bartholomew’s latest statement. To tell the truth, it couldn’t have been more effective or outstanding.

The patriarch put his mark on a gorgeous PR success story. Talking to the prime minister several times or obtaining promises from the minister of education would not have been this effective.

I read all the papers since the statement was made. I watched TV programs and the news and examined the statements. The result is very clear:

- The patriarch knew how to draw the public’s attention. He put the reopening of the Halki Seminary on top of the agenda.

- The patriarch has received support from the public that was not anticipated to such an extent. Even those judges who view the Patriarchate as the devil’s empire in a traditional sense have shown sympathy and accepted that the state has exhibited a wrong attitude in the Halki Seminary issue.

- Politicians who oppose the patriarch were forced to keep their voices down. Besides, none were convincing. Foreign Minister Davutoğlu, with his first reaction statement, has not been accepted either. So much so that even the prime minister was quite easygoing. He did not exaggerate the incident and remained behind Davutoğlu.

Now it is the Ministry of Education and Çubukçu’s turn

So what will happen next?

Will the same old story remain?

Will there be any steps taken toward the reopening of the Halki Seminary?

Now it is Çubukçu’s turn. Let’s see if she will step in immediately.

By the way, one more note...

I can’t help but be happy about ongoing arguments. The best one was the statement made by Mihail Vasiliadis, the editor in chief of Apogevmatini, a daily primarily targeting the Greek community in Turkey, on CNNTürk’s program “Tarafsız Bölge,” hosted by Ahmet Hakan. I’m not sure a Greek citizen of Turkish origin would have been able to protect his rights on any of the Greek TV channels. My congratulations to Vasiliadis. He proved to be a genuine Turkish citizen.

Isn’t there any presentable man left in this nation?

I can’t believe what I’ve been reading and hearing.

I get the creeps whenever I take a look at what we’ve been experiencing for the past few years. It seems we’ve been living in an empire of fear and have not taken notice of it.

The present scenery we are facing is scary.

It seems we’ve been living in an underworld full of people preparing coups and conspiracies, a world of political mobs and vulgar gangs. Some may be true and some may be exaggerated accusations, but investigations and operations done in succession reveal a completely different Turkey and the presence of hundreds of hidden cells and thousands of armed people running around.

Please take a look at the latest situation:

- Even if we set aside published allegations within the frame of the Ergenekon case due to lack of evidence, those based on concrete evidence suffice. To tell the truth, people have organized themselves for a coup.

- Armed organizations have established associations that are anti-Armenian, anti-Christian and anti-Greek. That’s how Hrant Dink was murdered. Priest Santoro and others were slain because they did missionary work. And all this happened in front of the eyes of the gendarmerie or police, who just watched.

- Gangs have formed with the slogan “Our country is indivisible” and are going on manhunts in order to shoot Kurds.

- Then there are also security forces that have participated in similar events or illegal deeds. Almost every day we encounter operations or gangs in which chiefs of security forces are involved, such as the scandal over the skin of the slaughtered animals after the Feast of the Sacrifice.

- And let’s not forget to add to all that the PKK with its sub-organizations, those taking up weapons in the name of Shariah, the Taliban and al-Qaeda.

What is this, how will we fix it?

Sometimes when we read the paper or watch news on TV, we perceive Turkey as a country in which armed people run around killing each other or try to rob places.

Maybe we encounter similar events in other countries. But they have not escalated this much.

Will we be able to fix it?

Looking back at the 1970s, ’80s and ’90s, I tell myself, “This will also pass.” But still I feel very uncomfortable.

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Patriarch Bartholomew, the leader of 300 million Orthodox Christians, feels "crucified" living in Turkey under a government he says would like to see

 

Patriarch Bartholomew Feels "Crucified"

(CBS)  Would it surprise you to learn that one of the world's most important Christian leaders, second only to the pope, lives in a country where 99 percent of the population is Muslim? His name is Bartholomew, and he is the patriarch of 300 million Orthodox Christians. He lives in Istanbul, Turkey, the latest in a line of patriarchs who have resided there since before there was a Turkey, since the centuries following the death of Jesus Christ.



That's when Istanbul was called Constantinople and was the most important city in the Christian world.

But times change, and in modern Muslim Turkey the patriarch doesn't feel very welcome. Turkish authorities have seized Christian properties and closed Christian churches, monasteries and schools. His parishioners are afraid that the authorities want to force Bartholomew and his church - the oldest of all Christian churches - out of Turkey.



His official title is impressive: "His All Holiness, Bartholomew, Archbishop of Constantinople, New Rome, Ecumenical Patriarch."


"Ecumenical" means "universal," and worldwide, 300 million Orthodox Christians look to him for spiritual guidance.


60 Minutes correspondent Bob Simon first met him in Istanbul. It was Easter, and worshipers from throughout the Orthodox Christian world had come to celebrate Christ's resurrection on the holiest day of their calendar with the man who they see as their pope.


"My first question is this. How should I refer to you? As your all holiness? As patriarch? As ecumenical patriarch? What is the proper way to address you?" Simon asked the patriarch.


"The official title is 'your all holiness,'" he replied, laughing. "But for me, Bartholomew is enough."


For him perhaps, but not for us. And while his all holiness may occupy the Ecumenical throne, his quarters are a far cry from the Vatican.


His office is cramped and relatively austere, his desk littered with papers. No Michelangelos there. All that is left of a Christian empire once ruled from Istanbul is a complex of nine buildings, tightly squeezed onto less than an acre of land.


"Now, is this the Vatican of your church?" Simon asked.


"Well, our headquarters," the patriarch replied.


It's called the Phanar, and it has been the heart of Orthodox Christianity since 1599.


His all holiness promotes an informal atmosphere there: there's none of the ritual that surrounds the pope in Rome. And there is no cathedral - only a modest church. The neighborhood that surrounds it used to be Greek and Christian but today is predominantly Muslim. The Phanar is so small, our tour didn't take long.


It had just ended when a Turkish policeman informed the patriarch that there was a threat on his life. It turned out to be nothing, but church officials say previous threats have been serious enough that the Phanar is surrounded by barbed wire and cameras and the patriarch has 24-hour protection.


"I think a lot of people would want to know, your all holiness, why the leader of so many millions of Orthodox Christians in the world lives in a country that is 99 percent Muslim?" Simon asked.


"Because we are here before this country becomes a Muslim country, much earlier. Since ever. Since the very beginning," the patriarch explained.



Asked since the beginning of what, Patriarch Bartholomew said, "Of the foundation of our church, of the Church of Constantinople."


And in the beginning Istanbul was called Constantinople, the ancient city on the Bosporus where east meets west. The city's skyline is dominated by minarets; at Friday prayers, the mosques are teeming.



But the city's richest and most renowned Christian churches are museums today, Meccas for tourists, not for worshipers. There's the Chora Church, with its fresco of Jesus whose eyes seem to go right through you, and he Hagia Sophia, the first great church in Christendom and an architectural wonder built 1,000 years before Saint Peter's Basilica in Rome, and for centuries the most important church in the Christian world.

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