World View: Greece Closes Border with Turkey

This morning's key headlines from GenerationalDynamics.com:
  • ECB plans to save the euro exacerbates Europe's North/South fault line
  • Greece and European officials fail to reach agreement
  • Greece closes border with Turkey over Syrian refugees
  • Postal Service expected to go into default on Wednesday
  • Ebola virus epidemic reaches capital of Uganda
  • Pressure builds for international military intervention in Mali

ECB plans to save the euro exacerbates Europe's North/South fault line

Last week's off the cuff remarks by European Central Bank (ECB) president Mario Draghi that the ECB would do "whatever it takes to preserve the euro" caught the other ECB governors by surprised, and has increased discord with representatives of several of the northern countries, including Germany, the Netherlands, Belgium and Finland. Draghi's remarks were not the result of any resolutions, and his plan to provide a roundabout way for the ECB to bail out a country by purchasing its debt is generating an increasing amount of hostility, confusion and controversy. Spiegel

Greece and European officials fail to reach agreement

Financial officials from the "troika" -- the European Commission (EC), European Central Bank (ECB), and the International Monetary fund (IMF) -- arrived in Greece last week to hammer out a deal to allow Greece to continue receiving bailout loans, so Greece won't have to return to the drachma currency. The IMF has already recently threatened to cut off Greece's bailout loans simply because Greece has failed, time after time, to meet its past austerity commitments. Greek and troika officials were supposed to have reached a new agreement on Monday, but they failed to do so. It's doubtful that anyone serious believes any more that Greece has any hope of digging itself out of the whole it's in, which is why many people, especially the Germans don't want to waste any more money on Greece. Spiegel and Kathimerini

Greece closes border with Turkey over Syrian refugees

In the last few days, some 200,000 people have fled Syria's largest city, Aleppo, out of its population of 3 million, as a climactic battle develops between the Syrian army and the opposition Free Syrian Army. Many of them are fleeing to Turkey, whose border is just 30 miles (50 km) away. Greece has responded adding 2000 border guards to its borders with Turkey out of fear of a potential influx of Syrian refugees. In addition, Greece is placing a total of 26 floating barges or barriers along the Evros River that separates the two country. The Evros Rive is thought to be the main entry point for illegal immigrants trying to reach the European Union through Greece. Greece has already started an 8-mile razor-wire-topped 13-foot-tall fence along part of its border with Turkey. AP and Ria Novosti

Postal Service expected to go into default on Wednesday

The U.S. Postal Service will fail to make two legally required payments for future postal retirees' health benefits -- $5.5 billion due Wednesday, and another $5.6 billion due in September. The default will not affect day to day operations. AP

Ebola virus epidemic reaches capital of Uganda

Uganda's president, Yoweri Museveni, has banned all physical contact between citizens of Uganda in a desperate attempt to stop the spread of an outbreak of the Ebola virus. Fourteen people have already died from the disease, which kills nine out of ten people who become infected. This is the fourth outbreak of Ebola in Uganda since 2000, when the disease killed 224 people. Ebola was first reported in 1976 in Congo and is named for the river where it was recognized. Telegraph

Pressure builds for international military intervention in Mali

With al-Qaeda linked Islamist terrorists in control of northern Mali, Alassane Ouattara, the president of Ivory Coast, says that military intervention in Mali is "inevitable" within weeks. Ouattara is the head of ECOWAS (Economic Community of West African States), a regional bloc that has become increasingly alarmed by the Islamist takeover of northern Mali. According to Ouattara, about half the intervention force would be made up of soldiers from Mali itself, with the remainder from Niger, Nigeria and possibly Chad. France and the United States would be asked to provide "logistical help," which would include material support and combat aircraft. AP

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