This morning’s key headlines from GenerationalDynamics.com
- Greece’s civil servants go on strike over ‘mobility scheme’
- Property values plunge 11.6% in Greece
- Spain’s unemployment rate to remain above 25% past 2018
- U.S. State Dept. issues travel warning through end of August
- Iran’s president-elect Rouhani corrects quote on ‘removing’ Israel
Greece’s civil servants go on strike over ‘mobility scheme’
Civil servants on strike on Friday (Kathimerini)
Greece’s civil servants union, ADEDY, went on strike on Friday afterthe government published the names of more than 2122 primaryand secondary school teachers who will be transferred to the newfind other jobs or be fired after eight months. The teachers will bejoined by some 3,000 municipal police officers, 1,500 administrativestaff from universities and technical colleges, 1,500 publichealthcare workers, and 600 staff from various social security fundsand manpower organizations. As part of its commitment in return fortwo bailouts, the government has promised to have 12,500 civil servicein the “scheme” by September, and 25,000 by the end of the year.However, as we reported two daysago, even with all the committee austerity measures, Greece’s bailoutwill have a funding shortfall of €11 billion over the next two years.Kathimerini (Athens)
Property values plunge 11.6% in Greece
Property prices in Greece have plunged 11.3% in the last year and arepoised to have fallen 40% since 2008. According to a Bank of Greecesurvey, a lot of the price collapse is caused by forced selling –owners, especially of older buildings, who are desperate to sell inorder to cover their obligations. As I’ve explained in the past, deflated bubbles, including stockmarket crashes, occur not because of emotional reasons, but because offorced selling. Kathimerini
Spain’s unemployment rate to remain above 25% past 2018
An alarming new report from the International Monetary Fund (IMF)tries to put the best face on Spain’s economy, and even congratulatesSpain on implementing a number of austerity programs. But even withthose austerity programs, the report forecasts that Spain’sunemployment rate, which is currently at 27.2%, will remain above 25%past the year 2018. However, even that figure is based on optimisticassumptions that the economy will start growing again — a forecastthat’s been made every quarter for several years and has repeatedly turned outto be wrong. International Monetary Fund
U.S. State Dept. issues travel warning through end of August
The State Department issued a worldwide alert to U.S. citizenstraveling abroad on Friday, warning that al Qaeda and its affiliatesare planning terrorist attacks that may materialize before the end ofAugust, and suggesting that North Africa and the Middle East are thefocus of the threat. The alert, which expires August 31, 2013, urgesAmericans traveling in that region to be aware of their surroundings:
U.S. citizens are reminded of the potential forterrorists to attack public transportation systems and othertourist infrastructure. Terrorists have targeted and attackedsubway and rail systems, as well as aviation and maritimeservice.
As of Friday morning, at least 21 facilities in 18 countries announcedthat they will close on Sunday pursuant to the State Department’sguidance, including the U.S. embassies in Bahrain, Egypt, Iraq,Israel, Jordan, Kuwait, Libya, Oman, Qatar, Saudi Arabia, United ArabEmirates, Yemen, Afghanistan, Algeria, Bangladesh, Mauritania, Sudan, and Djibouti.
The current heightened security posture in the Middle East and NorthAfrica is a result of the lessons learned from the attack in Benghazi.
Allegedly, the CIA is threatening anyone with knowledge of theBenghazi affairs who talks to Congress or the press will lose theirjob or face criminal prosecution. The Obama administration hasrefused to investigate anyone connected with the Benghazi incident,apparently for fear of being embarrassed, just as they adamantlyrefuse to investigate and prosecute anyone connected to the financialscandal, since those people are huge donors to the president.
The only person who’s gone to jail is the guy who made the video thatthe administration originally falsely accused of causing the Benghaziattacked. It’s so wonderful to know that even though freedom ofspeech has been put in danger, the person who caused the Benghaziattack is no longer at large. CBS News and CNN
Iran’s president-elect Rouhani corrects quote on ‘removing’ Israel
Female supporter holding up picture of Rouhani at a June campaign event. Her loose hairscarf is an act of rebellion against the hardliners. (BBC)
Hassan Rouhani won a surprise victory in Iran’s presidential electionsin mid-June and will be taking the oath of office on Saturday. (See “16-Jun-13 World View — Iran’s elections won by ‘moderate’ Hassan Rouhani”.)
Two days ago, Iran’s student news agency ISNA had quoted Rouhani assaying: “The Zionist regime is a wound that has sat on the body of theMuslim world for years and needs to be removed.” ISNA retracted thisquote, and one reporter who has seen video of the actual event saysthat the quote was wrong and the retraction was correct. Here’s whatRouhani actually said:
In our region, in the shadow of the occupation ofPalestine and dear Quds, a wound has been sitting on the body ofthe world of Islam, and this is a reminder that the Muslim peoplehave not forgotten their historical right and will stand againstoppression and invasion…
In circumstances where the world of Islam is facing problems inthe region, Zionists think that this is an appropriate opportunityto show a peace-seeking image of themselves while in reality theycontinue their invasions and transgressions of the Palestinianland.
On the other hand, at the same event, outgoing president MahmoudAhmadinejad said, “I will inform you with God as my witness, adevastating storm is on the way that will uproot the basis ofZionism,” and added that Israel “has no place in the region.”Jerusalem Post and American Enterprise Institute
KEYS: Generational Dynamics, Greece, ADEDY, mobility scheme,Spain, unemployment, International Monetary Fund, IMF,U.S. State Department, North Africa, Mideast, Benghazi,Iran, Hassan Rouhani, Israel, Mahmoud Ahmadinejad