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 topreserve the euro” caught the other ECB governors by surprised, andhas increased discord with representatives of several of the northerncountries, including Germany, the Netherlands, Belgium and Finland.Draghi’s remarks were not the result of any resolutions, and his planto provide a roundabout way for the ECB to bail out a country bypurchasing 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 tocontinue receiving bailout loans, so Greece won’t have to return tothe drachma currency. The IMF has already recently threatened to cutoff Greece’s bailout loans simply because Greece has failed, timeafter time, to meet its past austerity commitments. Greek and troikaofficials were supposed to have reached a new agreement on Monday, butthey failed to do so. It’s doubtful that anyone serious believes anymore that Greece has any hope of digging itself out of the whole it’sin, which is why many people, especially the Germans don’t want towaste 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 largestcity, Aleppo, out of its population of 3 million, as a climacticbattle develops between the Syrian army and the opposition Free SyrianArmy. Many of them are fleeing to Turkey, whose border is just 30miles (50 km) away. Greece has responded adding 2000 border guards toits borders with Turkey out of fear of a potential influx of Syrianrefugees. In addition, Greece is placing a total of 26 floatingbarges or barriers along the Evros River that separates the twocountry. The Evros Rive is thought to be the main entry point forillegal immigrants trying to reach the European Union through Greece.Greece has already started an 8-mile razor-wire-topped 13-foot-tallfence 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 requiredpayments for future postal retirees’ health benefits — $5.5 billiondue Wednesday, and another $5.6 billion due in September. The defaultwill not affect day to day operations. AP

Ebola virus epidemic reaches capital of Uganda

Uganda’s president, Yoweri Museveni, has banned all physical contactbetween citizens of Uganda in a desperate attempt to stop the spreadof an outbreak of the Ebola virus. Fourteen people have already diedfrom the disease, which kills nine out of ten people who becomeinfected. This is the fourth outbreak of Ebola in Uganda since 2000,when the disease killed 224 people. Ebola was first reported in 1976in 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 militaryintervention in Mali is “inevitable” within weeks. Ouattara is thehead of ECOWAS (Economic Community of West African States), a regionalbloc that has become increasingly alarmed by the Islamist takeover ofnorthern Mali. According to Ouattara, about half the interventionforce would be made up of soldiers from Mali itself, with theremainder from Niger, Nigeria and possibly Chad. France and theUnited States would be asked to provide “logistical help,” which wouldinclude material support and combat aircraft. AP

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