There are currently more than 65-million refugees and displaced persons in the world. It is one of the biggest human rights crises of our time, and deserves as much media attention as possible. But what refugees don’t need is to have their plight reduced to a fashion statement. “Refugee chic.” On Friday, there was a […]
Greece
Posted inBusiness, General
Read Yanis Varoufakis’s “The Global Minotaur”!
Until recently, Yanis Varoufakis was the Greek Minister of Finance, who resigned after the Greek populace voted overwhelmingly against the imposition of more austerity measures against them in order to service the country’s crippling debt — resigned, because he believed that would give Alexis Tsipras, the prime minister, more negotiating space with the representatives of […]
Posted inNews/Politics
The jewel of Africa needs to buff up its act
The situation has become unsustainable. The tipping point of an accelerated slide to failed state status is surely imminent. That means even worse economic disintegration than has already taken place over the past two decades. That means a more rapidly deteriorating security situation, with more street protests, violent wildcat strikes, burning, looting, and general lawlessness. […]
Posted inBusiness, General, News/Politics
Bravo Greece!
The outcome of the Greek referendum on whether to accept the stringent conditions for another “bailout”, laid down by its creditors, should be applauded as an unambiguous manifestation of the democratic public spirit that refuses to continue allowing the neoliberal economic regime to put money before people. It also testifies to historical amnesia on the […]
Posted inBusiness
Greece: What you think you know may hurt you
“Nescience”. What a lovely word. It means not knowing. Looking at reactions to the Greek crisis, outside Greece, before and after a somewhat puzzling referendum makes me wish more people would accept the state of nescience on some issues. For me, the Greek tragedy presents a fascinating study of how politics and economics are inseparable. […]
Posted inGeneral, News/Politics
Dear Greece
It is not the best of times. I’m not sure what the problem is over there, but it seems to be affecting everyone. Angela Merkel is angry, your own prime minister looks a little bewildered and the people of Greece, you, are hurting most of all. As far as I can tell your banks let […]
Posted inBusiness, News/Politics
South Africa in the age of austerity
While the battle against austerity in Europe has entered a decisive phase — with the election of the radical-left Syriza in Greece — the term is seldom heard with reference to South Africa. Despite this, and the global discrediting of austerity, Finance Minister Nhlanhla Nene’s recent budget can only be described as austere. Austerity refers […]
Posted inGeneral
We need to talk about Greece and other spendthrifts
Neoliberals and fiscal conservatives, look away now … In response to my last blog posting a few people raised the following argument in relation to state spending: if you spend more than you consume, at some point you have to cut back and live within your means. After all, as an individual or company, if […]
Posted inNews/Politics
Greece, an African tragedy
When the troika (the IMF, European Central Bank and European Commission) rode into town, the Greeks didn’t have to look far too to see what impact the troika’s policies would have on them. Just across the Mediterranean lay an entire continent littered with examples of failed IMF policies. Greece has, in essence, become another African […]
Posted inBusiness, News/Politics
The global leadership crisis
The 2008 global financial crisis has exposed the dearth of global leadership, especially in responding to the complexity of multiple global events that characterise our modern existence. The eurozone has been subjected to absurd economic policies that have plunged its economy into deeper trouble. Unimaginative leadership should be blamed for failing to propel the eurozone […]
Posted inBusiness, General
Eurozone crisis: Where things stand
On Tuesday, President Jacob Zuma’s office announced that South Africa will contribute $2-billion (R16.3-billion) to an international fund created to bail out Europe’s debt-stricken nations. The government’s pledge is part of a $75-billion commitment from the Brics nations – Brazil, Russia, India, China and South Africa – to help bolster a $456-billion rescue fund administered […]
Posted inBusiness, General
Euro crisis: What are they on about?
Europe’s debt crisis is looming large over the global economy. Reports are everywhere you turn, but they are often confusing. They tend to be heavy with jargon and light on background. The following quote from a story published by Reuters recently is fairly typical. “German debt prices rose and Spanish bond yields briefly jumped on […]