Thought for the day
"To see what is
right and not to do it is want of courage, or of principle."
-
Confucius (Chinese,
551-479BCE)
Word for the day
Sidereal(adj)
Determined by or from the stars.
(Source: Dictionary.com)
Malice towards none
Does a common person refer to a police constable as what AK
did?
If yes, then AK is true to his positioning.
If not, you are true to yourself.
Bad economics, poor politics
The French President Francois Hollande has again mooted the idea
of a United State of Europe (USE). He feels that Geek crisis has weakened the
citizens' faith in European project.
To renew this faith it is necessary to strengthen the institutions
of governance. “What threatens us is not an excess of Europe but its
insufficiency,”, Holande wrote in the Journal du Dimanche weekly newspaper.
The president cautioned that populist movements had seized on
Europeans' disenchantment with European institutions and were taking issue with
Europe because "they are scared of the world, because they want divisions,
walls and fences to return."
With public debt to GDP ratio of close to 100%, ever rising
pension liabilities, a struggling economy, diminishing revenue, shrinking
market share in global exports, rising youth unemployment, France has been
occasionally sending jitters down the market's spine. Some in the market place
are therefore seeing this as early signs of rising tendency of escapism, as the
French government is struggling to introduce fiscal and labor reforms
considered essential for the economy to avoid another Greek tragedy taking
place on Paris.
It is commonly believed that the sublime idea behind a common Euro
area was to put an end to centuries of conflicts between various European
powers which have materially dissipated post second war. The paranoid might therefore
smell an attempts to recreate a strategic power that Europe had traditionally
been under the garb of an economic union.
I am however not inclined to subscribe to the theory of "Rise
of Empire". Consequently, I also do not agree with those who fear an all
out war involving Europe or Japan in foreseeable future. I believe that a full
war needs "truck loads of youth". With "bed loads of old and
infirm" people Europe and Japan cannot afford to go to a full war.
Some other may consider it desirable in order to correct the
debilitating imbalances in the Euro area economies. However, considering the
long history of rivalry and mistrust between the south and the north Europe,
huge economic inequalities and social divergence between the peripheral and the
core, thoroughly clouded economic outlook even in the medium term, there seems
is little chance that a consensus could be reached.
So, at best the thoughts of President Hollande could evoke some
academic discussion of no use, like the one I am doing here!
However, looking at the behavior of political parties in India,
one can say that they are trying hard to seize on Indians' disenchantment with national
institutions.
By denying consensus on critical economic issues, the politicians may
be destroying the future of a whole generation.
And by jeopardizing the functioning of the enforcement agencies and
law and order machinery, they might also be endangering the present of citizens.
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