Global News Journal
Beyond the World news headlines
from Jeremy Gaunt:
Greeks smashing windows and setting fire to shops and banks in a fury of opposition to yet more austerity is gripping. But it is hardly unique. A few years ago there were similar scenes for weeks after police shot a 15-year old schoolboy. And back when I lived there, U.S. President Bill Clinton was treated to a similar welcome -- mainly because of his military assault on Serbia (a fellow Christian Orthodox nation) during the Kosovo conflict.
There are doubtless degrees. The latest level of destruction was the worst since widespread riots in 2008 -- and austerity being imposed on Greeks is very painful. But it is worth noting that there are two underlying elements than make such uprisings more common in Greece than elsewhere.
The first is a division in Greek society that goes back to at least the end of the second world war. The civil war that followed the end of the German occupation was brutal and split the country between those wanting western free market democracy and those favouring Soviet-style communism. This carried though into the 1967-74 junta.
The second element is the role of outsiders on Greek history. The Civil War brought in western intervention and the junta got U.S. support -- to the deep-seated bitterness of those on the other side. Going back further -- and Greeks have long historic memories -- there are Persians, crusaders, Nazi Germans and the particularly hated Ottomans trying to make Greeks be something other than Greek. Here is a feature on it.
Russia’s ban on grain exports as a heat wave parches crops in the world’s third biggest wheat exporter has raised questions whether such export curbs break World Trade Organization rules. Russia is not a member of the WTO, and it remains to be seen how its new grain policy will affect its 17-year-old bid to join. But other grain exporters, such as Ukraine, which is also considering export curbs, are part of the global trade referee.
WTO rules are quite clear that members cannot interfere with imports and exports in a way that disrupts trade or discriminates against other members. But in practice most WTO rules aim to stop countries blocking imports – shutting out competitor’s goods to give their own domestic producers an unfair advantage.
Malaysia is a multicultural country of 27 million people in Southeast Asia. It has a majority Muslim population that of course is not allowed to drink by religion. Yet clearly some do as shown by the sentencing to caning for a young woman handed down recently
The Indonesian rupiah has lost more than a fifth of its value against the dollar so far this year and on Friday hit its weakest point since August 1998. Authorities swooped in to take over an
insolvent Bank Century, the first such takeover since the Asian financial crisis a decade ago.
Are things in Southeast Asia’s biggest economy really that dire to prompt comparisons with the chaotic events of a decade ago? Today’s financial crisis is draining liquidity from many banks across the world, including in Indonesia. And as was the case a decade ago, domestic capital is swarming hot on the heels of foreign capital in fleeing Indonesia.