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World View: Greece Demands WWII Reparations from Germany

World View: Greece Demands WWII Reparations from Germany

This morning’s key headlines from GenerationalDynamics.com.

  • Pakistan will deport Osama bin Laden’s wives and children
  • Pacific tensions build as North Korea approaches long-range missile launch
  • Kurds halt oil exports to Baghdad, increasing sectarian tensions
  • Euro zone unemployment soars to historic high as manufacturing falters
  • Greece continues to demand WW II reparations from Germany

Pakistan will deport Osama bin Laden’s wives and children

A Pakistani court sentenced Osama bin Laden’s three widows and two of his daughters to 45 days in prison on Monday for illegally living in the country, ordering them deported when the sentence ends. Because of time served, they’re expected to be in prison only two weeks. Bin Laden’s favorite wife, who was about 30 years younger than he was, will return to Yemen, along with her children. However, his other two wives are Saudi citizens, and Saudi Arabia appears to be reluctant to allow them to return, presumably for fear that they could trigger al-Qaeda linked anti-government demonstrations.

One possibility is that all three wives and their children will return to Yemen together, to stay “as a family.” The wives could embarrass the Pakistanis, because they may have information about how bin Laden was able to stay in Pakistan under the army’s nose for ten years and nobody knew. Could there be a book deal in the offing? AP

Pacific tensions build as North Korea approaches long-range missile launch

The United States and Japan are studying counter-measures to take if North Korea goes ahead with a long-range rocket launch threatened for April 12-16. Japan says that it will shoot down the rocket if it poses a threat to its territory. The U.S. has already canceled planned food aid, but will not discuss any further repercussions if the launch takes place. My guess is that a really brutal counter-measure is planned — namely a U.N. Security Council meeting to talk about it. AFP

Kurds halt oil exports to Baghdad, increasing sectarian tensions

The northern “Kurdistan” region of Iraq has been semi-autonomous since the days of Saddam Hussein, and the post-Saddam government made a deal with the Kurds that they would share in the oil and the revenue. But the Kurds have stopped shipping oil to Baghdad, claiming that Baghdad isn’t paying for it. Baghdad is accusing the Kurds of “stealing” the oil, and selling it secretly to Iran and Turkey for a profit. Tensions between the Kurds and Baghdad began rising within two days after the Americans completed their withdrawal in January, when Iraqi Vice President Tareq al-Hashemi fled to the Kurdistan region to avoid being arrested by the government. Saddam was a Sunni dictator, and he violently suppressed the Shia majority, as well as the Sunni Kurds. Now there’s a Shia government in charge, and tensions between them and the minority Sunnis are growing. VOA

Euro zone unemployment soars to historic high as manufacturing falters

Eurozone unemployment jumped to an all time high of 10.8%, setting a 15-year record for the single-currency area. Spain remained the worst affected, with the highest rate at 23.6%, followed by bailed-out Greece at 21%, Portugal at 15% and Ireland at 14.7%. Italy hit a record 9.3%. In another sign that recession is gripping the region, a key survey showed that manufacturing activity dropped to a three-month low in March, with the “malaise” spreading to top economies Germany and France. If you listen to CNBC or read the mainstream financial press, then you know that financial pundits are constantly predicting a return to rapid growth both in America and Europe. As I’ve been saying for years, this is impossible in a generational Crisis era. The Federal Reserve and the European Central Bank (ECB) have been holding off the worst by “printing” trillions of dollars and pouring into the banking systems, but no amount of “printing” is enough to stop a deflationary spiral during a generational Crisis era. There is much worse to come. AFP

Greece continues to demand WWII reparations from Germany

Greek officials were infuriated by a statement by the German Foreign Ministry that claims arising from the Second World War Nazi occupation are “no longer an issue,” since they had been settled by a 1946 agreement. Greek WWII hero Manolis Glezos (photo), said that the German statement was “historically inaccurate, false and infuriating.” He said the 1946 pact obliged Germany to pay $7 billion (in 1938 prices) as reparations and another $3.5 billion for a war loan Athens was forced to provide. Glezos said this amounts to 162 billion euros without interest today. He added that “not one mark, drachma or euro” of this money had been paid. Kathimerini

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