Subscribe via RSS Feed Connect on Google Plus Connect on Flickr

Tag: Greece

The sixth post of pre-Christmas 2018: June

Tuesday, 18 December, 2018

Football didn’t quite “come home” after this year’s World Cup but England did reach the semi-finals and lost, valiantly, to Croatia, who were beaten in the final by a superior French side. Our review of the year has reached the month of June.

********

Back in June 2015, the former German Federal Minister for Finance Wolfgang Schäuble lost patience with the Greek Prime Minister Alexis Tsipras. “Isch over,” he said. The context were the interminable talks about talks about talks to keep Athens funded and within the Eurozone.

Three years later, somethings have changed and more remain the same: “Tsipras Vows to Stick With Greece’s Euro Deal” is today’s Bloomberg headline. One thing has changed dramatically since 2015, however. Germany has lost its nimbus as a football power. Yesterday’s humiliating defeat by South Korea and the terrible performances against Mexico and Sweden mean “Isch over.” Over and out of the World Cup.

Apropos, in the Guardian, the former German midfielder Thomas Hitzlsperger says, “This was not the Germany we are used to – I feel completely empty.” He also places a finger in a fatal self-inflicted wound by team manager Joachim Löw:

“I’m aware there has been a lot of talk in England about Leroy Sané’s exclusion from the squad following his excellent season with Manchester City and, for me, he is a player who should be reintroduced immediately. He is exactly the calibre of player Germany needs, someone who is young and has raw, dangerous pace.”

********

Since June, Löw has sobered up and Sané is now a regular fixture in the German team, where his ability and agility are beginning to add sparkle. Tomorrow, here, the seventh post of pre-Christmas 2018 dwells upon the new Empire of Evil: China.


Cavafy on the Mediterranean migrants

Monday, 14 May, 2018 0 Comments

One can read C.P. Cavafy’s In the Harbour-Town as a poem about home-sickness or a poem about migration, or both, as the two are often intertwined. In another way, it can be interpreted as a poem that speaks to our times because he mentions “a Syrian harbour” in the same breath as “the great pan-Hellenic world”. Recent reports of a rise in unaccompanied child migrants reaching Greece and Cyprus through the Central and Western Mediterranean Routes make this Cavafy poem sound uncannily prescient.

In the Harbour-Town

Emis – young, twenty-eight –
reached this Syrian harbor in a Tenian ship,
his plan to learn the incense trade.
But ill during the voyage,
he died as soon as he was put ashore.
His burial, the poorest possible, took place here.
A few hours before dying he whispered something
about “home,” about “very old parents.”
But nobody knew who they were,
or what country he called home
in the great pan-Hellenic world.
Better that way; because as it is,
though he lies buried in this harbour-town,
his parents will always have the hope he’s still alive.

C.P. Cavafy (29 April 1863 – 29 April 1933)

Translated from the original Greek by Edmund Keeley and Philip Sherrard.

Harbour town


#Brexit: History is in the making

Thursday, 23 June, 2016 0 Comments

History will be made today in Great Britain. Regardless of result of the referendum, we will witness the slow-motion crumbling of two Unions: the UK and the EU. If the British vote to leave, the EU will begin to crumble because the audacious act of departure will mortally wound the “project” and will encourage others to hold similar referendums. If the British vote to remain and England’s desire for independence is defeated by an alliance of multicultural Londoners and Irish, Scottish and Welsh nationalists, the Union will be gravely damaged.

UK_EU A European Union without Great Britain would be forced to confront its founding fallacy of Germany pretending to be weak and France pretending to be strong. Neither Paris nor Berlin wants to face this embarrassing reality, but the absence of London as a diversion will lead to sobriety. Then, there’s the fragility of the eurozone. It may be possible to keep Greece on life support indefinitely, but not so Italy. Its debts are alarming, the unemployment rate is frightening and there’s no growth. As well, Italy straddles that other great EU fault line: immigration. Italy is the country of choice for African migrants and their numbers will keep on growing for the rest of this century.

“History, Stephen said, is a nightmare from which I am trying to awake.” So says a character in that great Anglo-Irish-European novel Ulysses, by James Joyce, and the nightmare of history will return with a vengeance if the “Leave” side wins. Ireland’s borders, internally and externally, will take on new significance and the country may have to rethink its political relationships. The same goes for the Scots, whose nationalists would demand another referendum that might take them out of a non-European Britain. And the Welsh? They play Northern Ireland in Parc des Princes in Paris on Saturday, with a quarter-final place in Euro 2016 at stake.

History is in the making.


Nothing is more permanent than the temporary

Sunday, 12 July, 2015 0 Comments

All eyes have been on Greece this week. We’re on topic today, but is a somewhat oblique way. A. E. Stallings studied classics in Athens, Georgia, and has lived since 1999 in Athens, Greece. She has published three books of poetry and is the recipient of fellowships from the MacArthur Foundation and the Guggenheim Foundation. Her husband, John Psaropoulos, is the former editor of the former Athens News and now blogs at The New Athenian. Together, they’re raising a small argonaut, Jason.

After a Greek Proverb

We’re here for the time being, I answer to the query—
Just for a couple of years, we said, a dozen years back.
Nothing is more permanent than the temporary.

We dine sitting on folding chairs — they were cheap but cheery.
We’ve taped the broken window pane. TV’s still out of whack.
We’re here for the time being, I answer to the query.

When we crossed the water, we only brought what we could carry,
But there are always boxes that you never do unpack.
Nothing is more permanent than the temporary.

Sometimes when I’m feeling weepy, you propose a theory:
Nostalgia and tear gas have the same acrid smack.
We’re here for the time being, I answer to the query—

We stash bones in the closet when we don’t have time to bury,
Stuff receipts in envelopes, file papers in a stack.
Nothing is more permanent than the temporary.

Twelve years now and we’re still eating off the ordinary:
We left our wedding china behind, afraid that it might crack.
We’re here for the time being, we answer to the query,
But nothing is more permanent than the temporary.

A. E. Stallings

A.E. Stallings


Xáos

Saturday, 11 July, 2015 0 Comments

Ahetas was born in Australia, but grew up in Greece, appearing with various avant-garde and free bands in Athens. He spends his time between London and Athens.

Dubulah was born in Germany to a Greek mother and English father and grew up in London listening to Greek music and western music. He is now living in Spain.

With Greece facing Xáos, Ahetas and Dubulah have created a soundtrack for the crisis.

“Since the Xáos project commenced, European politics and economics have influenced the way the album has evolved. For in recent years, Greece has been a country in crisis, and the fight for survival against insane and counter-productive austerity measures has taken precedence over any cultural expression or art. There was little enough support for homegrown artists before the crisis began, but now there is almost none. But this is a country with a remarkable musical history and massive talent, without outlet or appreciation. And the fight-back has begun.”


Meanwhile, in China

Wednesday, 8 July, 2015 0 Comments

The world is worried about Greece becoming a Cuba on the Med, with ouzo instead of rum and olives in place of bananas, but there’s an even bigger problem on the horizon: China. The rout in Shanghai is far more troubling than the drama in Athens. Consider:

“A stock market crash there has seen $3.2 trillion wiped from the value of Chinese shares in just three weeks, triggering an emergency response from the government and warnings of ‘monstrous’ public disorder. . . . In an extraordinary move, the People’s Bank of China has begun lending money to investors to buy shares in the flailing market.”

That’s from a report filed Down Under yesterday titled Chinese chaos worse than Greece. In an echo of 1929, the writer notes: “Underscoring growing jitters amid the three-week sell-off, police in Beijing detained a man on Sunday for allegedly spreading a rumour online that a person jumped to their death in the city’s financial district due to China’s precarious stock markets.”

Today, those “precarious stock markets” have moved into the danger zone and the air is filled with talk of China’s “Black Wednesday”. The Sydney Morning Herald has a rolling blog on the situation titled, rather worryingly, China panic grows. Snippets:

“Losses on the ASX have accelerated again on the early slump in Shanghai, and the Aussie dollar just hit its next six-year low, showing that the Chinese turmoil is starting to affect local investor sentiment.”

“China’s securities regulator says “panic sentiment” has set in mainland sharemarkets, contributing to an ‘irrational’ sell-off that has defied the government’s urgent attempts to stem the market freefall.”

“I’ve never seen this kind of slump before. I don’t think anyone has. Liquidity is totally depleted,” said Du Changchun, an analyst at Northeast Securities.”

Update: The SMH blog is now titled “China panic spreads”. It’s a “developing story”.


I said, pretend you’ve got no money

Monday, 6 July, 2015 0 Comments

“I said, pretend you’ve got no money,
She just laughed and said, Oh you’re so funny.”

Common People, Pulp

In May, the Greek newspaper Athens Voice suggested that the woman who inspired the Pulp song is Danae Stratou, wife of Yanis Varoufakis, the former Greek minister of Finance. Ms Stratou studied at Saint Martins College of Art and Design in London between 1983 and 1988 and is the eldest daughter of a wealthy Greek businessman.

That celebrated Paris Match spread in March raised eyebrows and generated questions about the contrast between Syriza reality and rhetoric. Yanis Varoufakis was a player. He remains a puzzle. “I wear the creditors’ loathing with pride,” said Minister No More.

Common People


Give me the money or I’ll shoot!

Friday, 3 July, 2015 0 Comments

Intra-European affairs are fraught these days, given the dissent about Brexit, migrants and Putin. The Greco-German relationship is going through an especially rough patch right now thanks to lending/borrowing “issues” and the cover of today’s Handelsblatt, the daily financial paper published in Düsseldorf, sums up the fear and loathing.

Handelsblatt

Meanwhile, “Greek politics is short-term. The long term is for Germans,” notes David Patrikarakos in Politico. Problem is, Germans and Greeks are united by the euro. Still.

By the way, those taken aback by the Handelsblatt cover, should take a look at the depictions of German leaders in Greece. They’re not very subtle. Here is a referendum poster in Athens that shows the face of German Finance Minister Wolfgang Schäuble and states: “He has been drinking your blood for five years, now tell him No.”

No


The art of currency: Stefanos, Banksy, Warhol

Wednesday, 1 July, 2015 0 Comments

“On the front of both series of euro banknotes, windows and doorways are shown,” states the European Central Bank. “They symbolise the European spirit of openness and cooperation. The bridges on the back symbolise communication between the people of Europe and between Europe and the rest of the world.”

That’s the view from Frankfurt. The Greek artist Stefanos says that the currency does not reflect the reality of our era and he’s hacking it to make his point.

In the spirit of the British street artist Banksy, who uses public spaces and property to showcase his messages, Stefanos is using money to make a statement about the dire situation in Greece. His altered euro banknotes depict mass hysteria, despair, violence and social collapse. To create his works, Stefanos draws human figures on the notes using a black ink ball-pen, scans the results, posts the images on his website and returns the notes into circulation. Their subversive message is then spread around the modern agoras by consumers.

As we move towards a cashless world, banknotes are on their way to becoming valuable collectables. Before they’re banished, however, there’s the pressing matter of a Grexit, which could make the euros of Stefanos worth even more than their defaced value. Andy Warhol would have approved.

Artistic note


Greece as Zimbabwe or Argentina

Friday, 20 February, 2015 1 Comment

What will happen if Greece exits the eurozone? For starters, the banking sector will collapse as everyone tries to move their euros to German banks. Although word on the street is that most have done so already. Athens might consider reintroducing the drachma, but no one would want it, so people would just keep using the euro. This option is not without precedent. Back in 2009, Zimbabwe gave up the pretense of monetary sovereignty and the United States dollar is now the official currency for all government transactions. Just as Robert Mugabe has no influence over the Fed, Greece would no longer have a seat at the ECB but life goes on and there are reports that nightlife in Harare is picking up again.

Instead of going the way of Zimbabwe, Greece might become another Argentina and things won’t be as bad as the pessimists say. Given that what the Argentines call “viveza criolla” is very much at home in Greece, a tango-sirtaki morph may be on the cards. That being the case, here are some useful viveza criolla phrases:

Total, si no robo yo, robará otro.” (In the end, if I do not steal, another will steal.)
Hecha la ley, hecha la trampa.” (Made the law, made a loophole.)
El vivo vive del zonzo y el zonzo de su trabajo.” (The smart guy lives off the fool, and the fool lives off his job.)

Back on the 11th of this month, STRATFOR looked at the two countries in Greece and Argentina, Similar But Not the Same. Conclusion:

Even though Syriza used Argentina’s case as an example during the electoral campaign, and many Greeks are aware of the country’s history, Athens has considerably less room for action than Buenos Aires did. Many of Buenos Aires’ moves since 2001 have been ill conceived and poorly executed, but unlike Greece, Argentina was a fully sovereign country when it made them. Greeks elected Syriza to fix the country’s debt problem without leaving the eurozone and the European Union. Greece’s main problem is that it will be extremely hard for Athens to achieve both goals simultaneously.


The genius of Grexit

Tuesday, 17 February, 2015 0 Comments

The word “Grexit” combines Greek’ and ‘exit’ and it refers to the possibility of Greece leaving the eurozone. The term was coined by Citi economists Willem Buiter and Ebrahim Rahbari in a February 2012 note and it has spread rapidly since then. One sign of its genius is that it no longer needs translating.

German: Grexit-Wahrscheinlichkeit steigt auf 50 Prozent

Italian: Grexit, l’Italia rischia 61,2 miliardi

Spanish: Ni Grexit ni Grecovery

Dutch: ‘Grexit is niet te vermijden’

French: La fantasme du “Grexit”

Estonian: Repliik: Geuro ja euro või grexit

Portuguese: Grexit: como seria a saída da Grécia do euro

Swedish: Grexit dåligt alternativ för EU:s skattebetalare