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Tuesday, May 28, 2013
'Clementine in the Lower 9' melds Greek myth with New Orleans disaster ...
'Clementine in the Lower 9' melds Greek myth with New Orleans disaster ... Washington Post The scale is indeed that big as Dietz melds Greek myth with N'awlins disaster and superstition. The plot is loosely “Agamemnon,” and though it's probably time for a moratorium on the trend of American writers adapting Greeks (“Oedipus El Rey” and “An ... |
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Euro leaders unite to tackle soaring youth unemployment rates
François Hollande makes impassioned plea for jobless 'post-crisis' generation that fears it will never work
European leaders yesterday warned that youth unemployment – which stands at up to 59% in some countries – could lead to a continent-wide "catastrophe" and widespread social unrest aimed at member state governments.
The French, German and Italian governments yesterday joined together to launch initiatives to "rescue an entire generation" who fear they will never find jobs.
More than 7.5m young Europeans aged between 15-24 are not employed or in education or training, according to European Union data. The rate of youth unemployment is more than double that of adults, and more than half of young people in Greece (59%) and Spain (55%) are unemployed.
François Hollande, the French president, dubbed them the "post-crisis generation", who will "for ever after, be holding today's governments responsible for their plight".
"Remember the postwar generation, my generation. Europe showed us and gave us the support we needed, the hope we cherished. The hopes that we could get a job after finishing school, and succeed in life," he said at conference in Paris. "Can we be responsible for depriving today's young generation of this kind of hope?
"Imagine all of the hatred, the anger. We're talking about a complete breakdown of identifying with Europe.
"What's really at stake here is, not just 'Let's punish those in power'. No. Citizens are turning their backs on Europe and the construction of the European project.
Germany's finance minister Wolfgang Schäeuble warned that unless Europe tackles youth employment, which stands at 23.5% across all European Union countries, the continent "will lose the battle for Europe's unity".
Italy's labour minister Enrico Giovanni said European leaders needed to work together to "rescue an entire generation of people who are scared [they will never find work].
"We have the best ever educated generation in this continent, and we are putting them on hold," he said.
The UK department for work and pensions and the Treasury were unable to say why Britain, which has a 20.7% rate of youth unemployment, was not represented at the conference in Paris on Tuesday.
Stephen Timms, shadow employment minister, attacked the coalition for remaining "utterly silent on youth unemployment".
"This government has totally failed to tackle Britain's youth jobs crisis. This government must stop sitting on the sidelines and take the urgent action we need to get young people back to work."
Hollande outlined a series of measures to tackle the problem, including a "youth guarantee" to promise everyone under 25 a job or further education or training.
The plan, which has already been discussed by the European Commission, will be supported by €6bn of EU cash over the next five years. Another €16bn in European structural funds is also being made available for youth employment projects.
Herman Van Rompuy, European Council president, pledged to put the "fight against unemployment high on our agenda" at the next EU summit in June. "We must rise to the expectations of the millions of young people who expect political action," he said.
The commission estimates youth joblessness costs the EU €153bn in unemployment benefit, lost productivity and lost tax revenue.
"In addition, for young people themselves, being unemployed at a young age can have a long-lasting negative 'scarring effect'," the commission said. "These young people face not only higher risks of future unemployment, but also higher risks of exclusion, of poverty and of health problems."
The European ministers, who will meet with German chancellor Angela Merkel to discuss the youth unemployment crisis in July, said small and medium-sized businesses (SMEs) will form a central plank of the plans.
SMEs traditionally employ the vast majority of young people, but have complained they haven't been able to borrow enough money to grow since the financial crisis struck in 2008.
Ursula von der Leyen, Germany's labour minister, said: "Many SMEs, which are the backbone of our economies, are ready to produce but need capital, or they have to pay exorbitant borrowing rates."
The minsters are working on establishing a special credit line for small and medium-sized businesses from the European Investment Bank (EIB), which will have a €70bn lending capacity this year.
However, Werner Hoyer, head of the EIB, warned minister not have "expectations completely over the horizon".
"Let's be honest, there is no quick fix, there is no grand plan," he admitted.
Schäeuble warned that European welfare standards should not be jeopardised in order to cut the youth unemployment figures. "We would have revolution, not tomorrow, but on the very same day," he warned.
Germany and Austria have the lowest rate of youth unemployment, with just 8% not in work, education or training.
Jean-Claude Juncker to visit Athens on June 10-11
Reports shows Greeks work longer and are paid less than OECD average
Technical Chamber of Greece struggling to make ends meet
MP Repousi Now Questions Asia Minor Genocide
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Governments Finally Get Serious About Youth Unemployment Crisis
Turkey's economy is thriving in a dangerous neighbourhood
There is nothing flashy about Turkey's rise, which has been based on fundamentals, rather than bubbles or resource discoveries
A recent visit to Turkey reminded me of its enormous economic successes during the last decade. The economy has grown rapidly, inequality is declining, and innovation is on the rise.
Turkey's achievements are all the more remarkable when one considers its neighbourhood. Its neighbours to the west, Cyprus and Greece, are at the epicentre of the eurozone crisis. To the south-east is war-torn Syria, which has already disgorged almost 400,000 refugees into Turkey. To the east lie Iraq and Iran. And to the north-east lie Armenia and Georgia. If there is a more complicated neighbourhood in the world, it would be difficult to find it.
Yet Turkey has made remarkable strides in the midst of regional upheavals. After a sharp downturn in 1999-2001, the economy grew by 5% a year on average from 2002 to 2012. It has remained at peace, despite regional wars. Its banks avoided the boom-bust cycle of the past decade, having learned from the banking collapse in 2000-2001. Inequality has been falling. And the government has won three consecutive general elections, each time with a greater share of the popular vote.
There is nothing flashy about Turkey's rise, which has been based on fundamentals, rather than bubbles or resource discoveries. Indeed, Turkey lacks its neighbours' oil and gas resources, but it compensates for this with the competitiveness of its industry and services. Tourism alone attracted more than 36 million visitors in 2012, making Turkey one of the world's top destinations.
Even a short stay in Ankara allows one to see these underlying strengths. The airport, highways, and other infrastructure are first class, and a high-speed intercity rail network links Ankara with other parts of the country. Much of the advanced engineering is homegrown. Turkish construction firms are internationally competitive and increasingly win bids throughout the Middle East and Africa.
Turkey's universities are rising as well. Ankara has become a hub of higher education, attracting students from Africa and Asia. Many top programmes are in English, ensuring that Turkey will attract an increasing number of international students. And the country's universities are increasingly spinning off high-tech companies in avionics, information technology, and advanced electronics, among other areas.
To its credit, Turkey has begun to invest heavily in sustainable technologies. The country is rich in wind, geothermal, and other renewable energy, and will most likely become a global exporter of advanced green innovations.
Waste-treatment facilities are not typically tourist attractions, but Ankara's novel integrated urban waste-management system has rightly attracted global attention. Until a few years ago, the waste was dumped into a fetid, stinking, noxious landfill. Now, with cutting-edge technology, the landfill has been turned into a green zone.
The private waste-management company ITC receives thousands of tonnes of solid municipal waste each day. The waste is separated into recyclable materials (plastics, metals) and organic waste. The organic waste is processed in a fermentation plant, producing compost and methane, which is used to produce electricity in a 25MW power plant. The electricity is returned to the city's power grid, while the heat exhaust is piped to the facility's greenhouses, which produce tomatoes, strawberries, and orchids.
Turkey's diversified, innovative base of industry, construction, and services serves it well in a world in which market opportunities are shifting from the United States and western Europe to Africa, eastern Europe, the Middle East, and Asia. Turkey has been deft in seizing these new opportunities, with exports increasingly headed south and east to the emerging economies, rather than west to high-income markets. This trend will continue, as Africa and Asia become robust markets for Turkey's construction firms, information technology, and green innovations.
So, how did Turkey do it? Most important, the prime minister, Recep Tayyip Erdoğan, and his economics team, led by the deputy prime minister, Ali Babacan, have stuck to basics and looked to the long term. Erdoğan came to power in 2003, after years of short-term instability and banking crises. The International Monetary Fund had been called in for an emergency rescue. Step by step, the Erdoğan-Babacan strategy was to rebuild the banking sector, get the budget under control, and invest heavily and consistently where it counts: infrastructure, education, health, and technology.
Smart diplomacy has also helped. Turkey has remained a staunchly moderate voice in a region of extremes. It has kept an open door and balanced diplomacy (to the extent possible) with the major powers in its neighbourhood. This has helped Turkey not only to maintain its own internal balance, but also to win markets and keep friends without the heavy baggage and risks of divisive geopolitics.
No doubt, Turkey's ability to continue on a rapid growth trajectory remains uncertain. Any combination of crises – the eurozone, Syria, Iraq, Iran, or world oil prices – could create instability. Another global financial crisis could disrupt short-term capital inflows. A dangerous neighbourhood means inescapable risks, though Turkey has demonstrated a remarkable capacity during the last decade to surmount them.
Moreover, the challenge of raising educational quality and attainment, especially of girls and women, remains a priority. Fortunately, the government has clearly acknowledged the education challenge and is pursuing it through school reforms, increased investments, and the introduction of new information technologies in the classroom.
Turkey's successes have deep roots in governmental capacity and its people's skills, reflecting decades of investment and centuries of history dating back to Ottoman times. Other countries cannot simply copy these achievements, but they can still learn the main lesson that is too often forgotten in a world of "stimulus", bubbles, and short-term thinking. Long-term growth stems from prudent monetary and fiscal policies, the political will to regulate banks, and a combination of bold public and private investments in infrastructure, skills, and cutting-edge technologies.
Copyright: Project Syndicate