Monthly Archives: October 2019

Chaired by Mr. Lesetja Kganyago, Governor of the South African Reserve Bank

October 19, 2019

We extend our deepest sympathies to the people and Government of The Bahamas for the loss of human lives and the devastating impact of the recent natural disaster.

Global outlook and policy priorities

The global economy is projected to grow by about 3 percent this year, but the pace has continued to weaken since April. Growth is projected to pick up next year, but the outlook is highly uncertain and subject to elevated downside risks. These include trade tensions, policy uncertainty, and geopolitical risks, against a backdrop of limited policy space, high and rising debt levels, and heightened financial vulnerabilities. Other longstanding challenges also persist.

We will employ all appropriate policy tools, individually and collectively, to mitigate risks, enhance resilience, and shore up growth to benefit all. Available fiscal space should be used to support demand as needed. Where consolidation is needed to ensure debt sustainability, fiscal policy should be carefully-calibrated, growth-friendly, and safeguard social objectives. In line with central banks mandates, monetary policy should ensure that inflation remains on track toward, or stabilizes around targets, and that inflation expectations remain anchored. Central bank decisions need to remain well-communicated and data-dependent. We will continue to monitor and, as necessary, tackle financial vulnerabilities and risks to financial stability, including with macroprudential policies.

Strong fundamentals, sound policies, and a resilient international monetary system are essential to the stability of exchange rates, contributing to strong and sustainable growth and investment. Flexible exchange rates, where feasible, can serve as a shock absorber. We recognize that excessive volatility or disorderly movements in exchange rates can have adverse implications for economic and financial stability. We will refrain from competitive devaluations and will not target our exchange rates for competitive purposes.

We will advance structural reforms to lift growth, employment, and productivity; enhance resilience; and promote inclusion. We reaffirm our commitment to strong governance, including by tackling corruption. We will advance policies that foster innovation and more competitive and flexible markets, and strive to address challenges from demographic shifts. We will provide opportunities for all people to contribute to economic activity and share its benefits, and effectively assist those bearing the cost of ongoing transitions.

We will enhance our efforts to reduce policy uncertainty and strengthen international frameworks and cooperation.

Sustained joint action is essential to address other challenges that transcend borders. We support efforts toward achieving the 2030 Sustainable Development Goals (SDGs). We will continue to support domestic and multilateral efforts to address, build resilience to, and deal with the macroeconomic consequences of pandemics, cyber risks, climate change and natural disasters, energy scarcity, conflicts, migration, and refugee and other humanitarian crises. We will continue to collaborate to leverage financial technology while addressing related challenges.

IMF operations

We welcome the Managing Directors Global Policy Agenda. In line with its mandate, the IMF will continue to support its members and collaborate with the World Bank, standards-setters, and other partners to:

We welcome the IMFs efforts to continue providing high value-added support to its members and to enhance its efficiency. To this end, we welcome efforts to attract and retain high-caliber staff. We support ongoing modernization initiatives, including the HR strategy, the comprehensive review of compensation and benefits, and the work on enterprise risk management. We call on the IMF to make progress toward the 2020 diversity benchmarks. We support increasing gender diversity in the Executive Board.

IMF resources and governance

We reaffirm our commitment to a strong, quota-based, and adequately resourced IMF to preserve its role at the center of the global financial safety net. We note the lack of progress on a quota increase under the 15th Review and call on the Executive Board to complete its work on the 15th Review and on a package of IMF resources and governance reforms, and to report to the Board of Governors as soon as possible. We support maintaining the IMFs current resource envelope and welcome the extension of the 2016 Bilateral Borrowing Agreements by one year. We look forward to consideration of a doubling of the New Arrangements to Borrow and a further temporary round of bilateral borrowing beyond 2020.

Beyond the 15th Review, we are committed to revisiting the adequacy of quotas and continuing the process of IMF governance reform under the 16th General Review of Quotas, including a new quota formula as a guide, with the Review to be extended from 2020 to no later than December 15, 2023. In this context, we remain committed to ensuring the primary role of quotas in IMF resources. Any adjustment in quota shares would be expected to result in increases in the quota shares of dynamic economies in line with their relative positions in the world economy and hence likely in the share of emerging market and developing countries as a whole, while protecting the voice and representation of the poorest members.

Other issues

We express our deep gratitude to former Managing Director Christine Lagarde for her outstanding leadership of the IMF and distinguished service to member countries and the global community over the past eight years. Under Ms. Lagardes leadership, the IMF undertook important reforms to maintain its relevance and responsiveness to members needs, including by modernizing its macro-financial surveillance; enhancing its financial support, lending facilities, and capacity development; increasing attention to the social outcomes and human dimensions of IMF policies and operations; and integrating climate change, gender, governance, and income inequality into the work of the IMF. Ms. Lagarde also worked tirelessly to secure the financial resources necessary for the IMF to deliver on its mission, to ensure that dynamic emerging market and developing countries have greater voice, and to achieve support for IMF governance reforms. We wish Ms. Lagarde all the best in her new position as President of the European Central Bank. We thank Mr.David Lipton for his stewardship as Acting Managing Director during the transition.

We warmly welcome Ms. Kristalina Georgieva as Managing Director and look forward to working closely with her in meeting the challenges ahead.

Our next meeting will be held in Washington, D.C., on April 18, 2020.

Attendance can be found here

PRESS OFFICER:

Phone:+1 202 623-7100Email: MEDIA@IMF.org

More here:

Communiqu of the Fortieth Meeting of the IMFC - International Monetary Fund

In recognition of its significant efforts towards driving Emiratisation in the UAE, du, from Emirates Integrated Telecommunications Company (EITC), has received the Best Nationalisation Initiative in the GCC Award at the GCC GOV HR Awards 2019, held in Abu Dhabi. Fahad Al Hassawi, Deputy CEO Telco Services at EITC, received the award on behalf of the company at the prestigious award ceremony, which was attended by a host of game changing and progressive Human Resources (HR) industry figures.

Aimed at bringing together the regions brightest HR minds and key stakeholders, the GCC GOV HR Awards running for the 7th consecutive year in 2019 showcased and acknowledged leading organisations like du for their roles in placing national agendas at the heart of business frameworks geared towards economic diversification and the establishment of a robust and sustainable knowledge based economy.

As an exemplary regional leader, dus transformative Emiratisation strategy is an integral part of the companys focus towards providing career development for Emirati leaders and the aspiring national talent of tomorrow. For example, since 2006, the number of UAE National employees at du has doubled, with 66% of UAE Nationals currently holding leadership positions within the company.

Gaining momentum in its Emiratisation agenda by receiving a number of accolades and industry recognition, du is currently progressing towards a target Emiratisation rate of 35.5%, which is aligned with the companys commitment to the Ministry of Human Resources & Emiratisations (MOHRE) Emiratisation directives.

Nurturing the Future ICT Talent Pipeline

Fahad Al Hassawi, Deputy CEO Telco Services at EITC, said: As a driving force in the UAEs telecommunications sector, dus Emiratisation framework is an encouraging illustration of the formative feats that can be achieved by invigorating workforces and unlocking the full potential of homegrown talent. In adherence to the innovative policies and strategic imperatives of the UAE leadership, we place a strong emphasis on recruiting and empowering national talent to achieve the transformative visions of tomorrow. As the UAE leaders have reiterated time and time again, the countrys human capital is the most valuable resource towards achieving the future progress of the UAE, which is why we are honoured to be acknowledged for driving a talent pipeline that is fostering the economic imperatives of our knowledge-based economy.

Ehab Hassan, Chief Executive Officer, Human Resources and Administration, EITC, said: We believe that Emirati talents have proven their capabilities towards making a profound difference across various sectors. We pride ourselves on the efforts we have made to bring together not only national talent but also fresh graduates in order to provide them with world-class training programs and integrate them into our ICT business units.

We are proud to reiterate our commitment of adhering to our strategic goals of increasing the Emiratisation rate in our company by 1.5% on an annual basis. This will enable us to position ourselves among the leading companies in thisfieldand contribute to supporting the direction and vision of our wise leadership towards establishing a knowledge-based economy centred on Emirati nationals.''

A Roadmap to Emirati Empowerment

dus vested interest and support towards enriching the career pathways and prospects of emerging Emirati talent runs deep within the organizations roots. Since its inception, the company has placed strong emphasis on hiring, inspiring, and developing Emiratis to steer the future growth trajectory of the company, the industry, and the nation.

Organisation-wide, du is continuously working towards providing meaningful careers for UAE Nationals by creating jobs that increase the Emirati fingerprint across key developmental areas such as enterprise solutions, consumer business, and network proliferation.

This undeterred commitment has contributed to du being ranked 6th place in reference to its Emiratization Rate, as well as being awarded the Emiratization Award by MOHRE in 2018.

In 2019, dus focus has remained driven towards hiring quality UAE national talents to occupy leadership positions within the company. dus ongoing support and participation of Emirati career fairs such as Tawdheef and Careers UAE further boosts the companys commitment to unearthing the next generation of pioneering Emirati telco stars.

More information about dus Emiratisation progress can be found in the latest Annual Report: https://www.du.ae/about-us/investor-relations/reports

Read the original:

du Receives the Best Nationalisation Initiative Award at GCC GOV HR Awards in Recognition for Its Transformative Emiratisation Roadmap - Al-Bawaba

South Africas much anticipated long-term energy infrastructure plan that was announced on Friday repeats the past mistake of assuming a demand for electricity that is far too high, says Peter Attard Montalto, head of capital investments at Intellidex.

Read: SA cabinet approves power plan

The plan, known as the Integrated Resource Plan (IRP), maps out the scale and pace of new electricity generation capacity to be commissioned over the next decade and specifies the technology mix.

It provides for 1500 megawatts (MW) of new generation from coal, 2500MW from hydro, 6000MW from solar photovoltaic (PV), 14 400MW from wind, 2 088MW from storage and 3000MW from gas.

Own generation will be encouraged by removing certain regulatory requirements for projects between 1MW and 10MW, and government will urgently embark on emergency procurement of around 2 000MW to plug the current supply gap that has resulted from the poor performance of Eskoms generation fleet.

Read: Expert panel proposes new renewableenergy zones

In the document that was approved by cabinet last week, government admits that the growth in demand for electricity anticipated in the earlier IRP 2010-2030, which was promulgated in 2011, did not materialise.

This, it states, was the result of among other things lower economic growth; improved energy efficiency by large consumers to cushion against rising tariffs; fuel switching to liquefied petroleum gas (LPG) for cooking and heating; fuel switching for hot water heating by households; and the closing down or relocation to other countries of some of the energy intensive industry.

According to the analysis the actual electricity sent out declined at an average compound rate of -0.6% over the past years, compared to the expectation of a 3% average growth rate in IRP 2010-2030. In 2016, for example, the difference was a huge 18%.

Expected electricity sent out from IRP 2010-2030 vs actual

Source: IRP2019, Statistics SA and promulgated IRP 20102030

The document also points to a possible structural change in the economy to be less electricity intensive, which would be reflected in a decoupling of growth in electricity demand from GDP growth.

In its demand modelling the authors had to adjust the 2018 demand, which is the starting point. The 2018 actual recorded demand was about 3% lower than that assumed even in the draft IRP that was published for comment late last year.

Expected electricity demand forecast to 2050 IRP2019 provides for three scenarios:

Source: IRP2019

The upper forecast maintains the current economic structure and assumes average annual DGP growth of 3.18%. It forecasts 2% average annual growth in the demand for electricity by 2030 and 1.66% by 2050.

The median forecast is based on average annual GDP growth of 4.26% by 2030, but assumes significant structural changes in the economy. It results in 1.8% average annual growth in electricity demand by 2030 and 1.4% by 2050.

The low forecast is based on 1.33% average annual GDP growth by 2030, which results in 1.21% average annual growth in electricity demand by 2030 and 1.42% by 2050. This is based on a view that mining will continue to grow, but other sectors will suffer due to lack of investment should there be further credit downgrades for the country.

Attard Montalto says Intellidex sees average GDP growth up to 2030 at a maximum of 2%, and the average annual growth in electricity demand at no more than 1%.

He says the too-high assumptions made it possible for the planners to accelerate coal decommissioning and insert new coal and nuclear in the long term.

The IRP provides for the extension of the design life of the Koeberg nuclear power station by 20 years to 2044, which will also see a slight increase in its capacity.

New nuclear build

Government has also adopted the position that, considering the long lead times, preparations will start immediately for new nuclear build beyond 2030. It will however move away from mega fleets of nuclear reactors to affordable modular units close to end-users of electricity.

In the risk analysis that forms part of IRP2019 the authors acknowledge that actual demand is more likely to be lower than forecast, because of grid defections for various reasons.

It proposes mitigating the risk by managing the pace and scale of implementation of the new generation capacity the IRP provides for by accelerating or slowing down the ministerial determinations without which such developments cannot go ahead.

It has to be noted that Eskom in the past has based the demand forecast in its tariff applications on the IRP assumptions. The fact that actual demand turned out to be much lower left it with a revenue deficit that it is still fighting to recover by challenging the decisions made by energy regulator Nersa in court.

IRP2019 the emerging long term plan

Source: IRP2019

Read the original:

IRP demand assumptions are 'far too high' - Moneyweb.co.za

Last week was a quintessentially South African week. Load-shedding a polite word for literally being left in the dark was once again upon us and at almost the precise moment when President Cyril Ramaphosa was trying to sell his not-so-new dawn to investors in London. Eskom apologised again and board chairperson and acting CEO Jabu Mabuza provided what can only be described as a convoluted explanation for what went wrong.

In the meantime, Minerals Minister Gwede Mantashe unveiled the governments Integrated Resource Plan to some fanfare, but alas, the wrong plan was uploaded on the government website. It felt as if the state was a parody of itself for a moment.

The reality is that South Africa is busy digging itself out of the hole of the wasted years of State Capture. The looting of the state has far-reaching repercussions and we are still counting the precise cost of the looting while the looters walk free among us. No doubt, Finance Minister Tito Mboweni will remind us of the cost of years of corrupt and inefficient government next week when he delivers his Medium-Term Budget Policy Statement. The news will be grim and that should come as no surprise. Neither should it come as a surprise that we are in load-shedding mode again or that we seem at sixes and sevens in trying to implement a reform agenda. The unfortunate fact is that every day is simply a different version of the same narrative.

The reforms have begun we see them slowly but surely in, inter alia, the National Prosecuting Authority and its slow work, in the feverish attempts to get SARS back on track and in the court judgments which slowly roll back corrupt events of the past. Yet, the road will be long and hard. Rebuilding hollowed-out institutions, trying to build capacity within a state that has largely been stripped of individuals of skill and integrity, will take time.

It will take considerable time and effort for the government to recreate linkages of trust between itself and citizens. At present, most South Africans simply cannot believe what politicians say perhaps also not unique to South Africa given the state of the world and some of the lying charlatans who run it.

The challenge, however, is not only for Ramaphosa and his government but for us all to reimagine our country and engage in renewed citizen activism so that we can transform our society in a sustainable way.

Transformation is a tired and overused word in South Africa. It is often used as a proxy to advance narrow political interests. Yet, the work of transforming a society needs to be done with care and has been described by former Chief Justice Pius Langa in his essay Transformative Constitutionalism as follows:

Transformation is a permanent ideal, a way of looking at the world that creates a space in which dialogue and contestation are truly possible, in which new ways of being are constantly explored and created, accepted and rejected and in which change is unpredictable but the idea of change is constant. This is perhaps the ultimate vision of a transformative Constitution. It envisions a society that will always be open to change and contestation, a society that will always be defined by transformation.

Transformation is often difficult because we are weighed down by the anger of both the past and the present, though in different ways. Our dialogue is brittle and blame is apportioned readily and angrily. We seem not to listen; we simply turn up the volume and outshout the other. It is difficult to have a debate on solutions for the future in this context.

Rhodes University academic Anthea Garman says, South Africa is going through a moment of a quite powerful rupture. This rupture is not so much with the apartheid of colonial past, as much as with the immediate democratic past which has failed to deliver on its promises of equality for all and which has its own lack of credible rupture with the apartheid past.

Accountability is hard also because there is a trust deficit created by our past. The past lies between us in every debate about race and class and in every disagreement about structural inequality and an economy built on cheap labour. It hampers our ability to find creative solutions.

The lack of accountability for past wrongs by those in the apartheid regime has left discomfort in the present, the danger of which is illustrated by Antjie Krogs extraordinary poem Country of Grief and Grace:

but if the old is not guilty does not confessthen of course the new can also not be guiltynor be held accountable if it repeats the old(things may then continue as before but in a different shade)

It is clear that the ANC alone some might say cannot at all fix it. So, citizens must, divided as we are. It will take a mammoth collective effort from business, civil society and communities to rise up and speak out against the inaction fuelled by those who would consign our country to the dustbin of failed state status. It is not too late to do so.

There are green shoots and we should be working hard to support initiatives aimed at greater government accountability. Zuma has fallen, but its not enough.

And so, the question we have to ask is, What is the work for us to do? That is both an individual and collective question for each one of us as we try to create a country that is more just and more equal.

Barack Obama in his final speech to the UN was right when he said:

It turns out building accountable institutions is hard work the work of generations. The gains are often fragile. Sometimes we take one step forward and then two steps back. So those of us who believe in democracy, we need to speak out forcefully, because both the facts and history, I believe, are on our side. That doesnt mean democracies are without flaws. It does mean that the cure for what ails our democracies is greater engagement by our citizens not less.

US activist and academic Harry Boyte has worked extensively on reimagining the civic space and understanding how societies can move towards a more citizen-centred politics.

He starts from the premise of respectful conversations that shift the centre of politics away from politicians.

Essentially Boyte argues for a new kind of (citizen) politics that centres on negotiating a common life. The creation of so-called free spaces is essential to the notion of citizens organising themselves. Boyte, together with his colleague Sara Evans, relies on the model at work in 1960s America. During the civil rights movement, civic spaces were reimagined in venues ranging from churches to beauty parlours. Boyte champions the notion of broad-based community organising in colleges and other spaces with citizens as co-creators with the state and not simply voting fodder.

At present, protest action in South Africa is further fuelled by the poor, who feel they have been forgotten by those in power once an election has come and gone. Citizens need to develop a sense of agency that moves beyond the protest. This requires sustained and systematic forms of mobilisation by citizens, whether in small community groups or larger ones.

Unfortunately, citizenship today is largely passive: citizens receive government services and are bestowed rights.

The default of consumer culture, Boyte says, is that people ask what they can get, rather than thinking about what they could build, in terms of common resources.

Are South Africans mature enough to do what Boyte suggests and work across differences to solve common problems, advance justice, and create community wealth, from schools, public spaces, libraries and local businesses to art, music and healthy lifestyles? In the examples he cites in educational spaces, teams of young people worked on real-world issues such as campaigns against bullying, sexual harassment, racism, teen pregnancy, and gang violence to building playgrounds, championing healthy lifestyles, and making curriculum changes.

In South Africa, Equal Education has done similar work with learners, governing bodies, school management and parents aimed at creating safer school environments, ensuring the state develops norms and standards around educational infrastructure, and demanding transport to and from school for children living far away from the nearest school. Such localised initiatives have been possible largely because of the mobilisation of learners and parents. It is a model worth extending to other areas of socio-economic development and where the state has abdicated its responsibilities.

We can build our communities as spaces for which we have an attachment and in which we would like to see change. We all have a stake in the future of such places to live and work. It takes a shared vision and is best cultivated at the local level before moving to the national level where accountability is demanded on different issues.

In a South African context, we can see where such creative citizenship (co-creation with the state) could take us. It would go beyond passive citizenship and the mere demanding of rights towards meaningful interaction between citizens and their public representatives. Our Constitution champions public participation but too often that participation is shallow and technocratic and does not facilitate an ongoing conversation between citizens and elected representatives. Is there any wonder that burning has become commonplace?

In the #FeesMustFall movement, there were nascent signs of our ability to build the kinds of circles of learning and meaning within universities that are needed for us to talk about decolonisation and other areas of concern. But those circles need to become more inclusive to reap real benefits. They also need to be led with increased thoughtfulness, because issues such as changing curricula cannot be the sole domain of a few.

The Right2Know organisation has also pursued successful campaigns over several years regarding the cost of mobile telephone data. Its campaign #DataMustFall has mobilised the poor in communities where the mobile phone has become a crucial way of communication but also for the transferring of remittances and other daily tasks. The right to communicate has thus been reframed as a human right.

However, more needs to be done in terms of moving towards a broader, more liberating notion of citizenship as work and as co-creating with the state. For that to happen, civic education regarding the rights and responsibilities in the Constitution must take place in schools and other places of learning.

All sectors of society need to be part of reimagining civic life, including business, which is a key actor. As the World Economic Forum argues, companies need to see the benefits of defending civic space, which includes the freedom of citizens to organise, speak up and protest against failings and corruption. In a 2017 World Economic Forum report, the fraying rule of law and declining civic freedoms have become major global risks for companies. In South Africa, this will mean that business too recreates its role as citizen to operate ethically regarding, inter alia, workers rights, occupational safety, transparent tender processes as well as executive pay.

Marikana stands out as an example in the mining industry where a company engaged in unsustainable and unethical practices in the way in which employees were paid and housed. Steinhoff is another. But, as the World Economic Forum report points out, it is not only business but civil society that needs to build pathways between them to protect human rights and find solutions to the challenges.

Ramaphosa has committed his government to re-establishing the social compact between government, business and labour. We have to do more to ensure that linkages between government, business, civil society and citizen groups are strengthened to work collectively towards a society that is more just and less unequal. These sectors can no longer work in isolation and it will mean combining resources and expertise, where appropriate. This not only envisages academic Harry Boytes notion of democratic co-creation with the state but also leads to a society that is more resilient in dealing with the turbulence that comes along with living in a deeply unequal society.

We are in a very particular time of global and local tension. Yet we have a window of opportunity, a second chance, which calls for the very opposite of despair, for greater mobilisation and the true awakening of citizen activism for progressive values and corruption-free societies to thrive.

As Cody Keenan wrote in his recent essay on the #Resist movement in the United States: History is made every day by the hopeful. Or as Adrienne Rich has written:

My heart is moved by all I cannot save:so much has been destroyed.I have to cast my lot with thosewho, age after age, perversely,with no extraordinary power,reconstitute the world.

And so, despite the complexity of the present and the future, a degree of hope still glimmers for us. There is much work to be done to reconstitute our own country and for that, the centre has to hold. DM

Judith February is a governance specialist, columnist and lawyer. She is currently based at the Institute for Security Studies and is also a Visiting Fellow at the WITS School of Governance. She was previously executive director of the HSRC's Democracy and Governance unit and also head of the Idasa's South African Governance programme for 12 years. Judith is also a conflict dynamics accredited commercial mediator. Her book, Turning and Turning: Exploring the Complexities of South Africa's Democracy (PanMacmillan) is available.

Please note you must be a Maverick Insider to comment. Sign up here or if you are already an Insider.

Visit link:

The cure for what ails us is greater engagement by citizens - Daily Maverick

The question of the efficiency of the European Union is still present in European news, and things are still looking grim when it comes to member states confidence in the European Unions policies. Countries like France and Austria have expressed their skepticism when it comes to the efficiency of the European Union. The rise of far right political parties throughout Europe can be seen as an indicator of this. Greece, however, has maintained a relationship with the European Union despite the hardships that followed the 2008 economic crisis. It has also seen a decline in the support of the radical right, leaving the nationalist party Golden Dawn out of parliament in the July 2019 elections. Following the election of Prime Minister Kyriakos Mitsotakis and his party, New Democracy, Greece seems to be on a path towards economic flourishing and further European integration.

In 2015, Greece elected the left-wing party Syriza with Alexis Tsipras as its head. Syriza was one of the first to express its discontent towards the Union, embodied in the form of the 2015 referendum, which asked the Greek people whether or not they were willing to accept Europes bail-out conditions. Prime Minister Alexis Tsipras urged citizens to reject Europes bail-out terms, a decision which would naturally create a schism between the European Union and Greece. The response, an adamant No echoed loud and clear from the Greek population, who had associated Europes economic terms with tough austerity measures.

After two quite public bailouts and three EU-sponsored Economic Adjustment Programmes, Greece was performing poorly in comparison to most European countries and was far from efficient resource handling. The Greek Syriza government had, on multiple occasions, expressed its aversion towards the Eurogroup; it had refused to cooperate smoothly with the Unions requests and questioned the measures that were implemented on the Greek economy constantly. This cleavage, as outlined in the Greek book The Last Bluff by Victoria Dendridou and Eleni Varvitsioti, carried on throughout the Syriza term, which ended in July 2019.

In the election, Greeces right-wing party New Democracy saw an immense rise in support, amassing 33% in Greeces European election, leaving Syriza behind at 23.72% and forcing Tsipras to call for general elections. In the July 2019 general legislative elections, Greece was painted bluethe New Democracy colourwith New Democracy winning the election with almost 40% of the vote. Kyriakos Mitsotakis swore in as prime minister on July 8, 2019.

The question of the nature of Greeces relationship with the European Union after this change of government was one of the first to arise following the election.

Mitsotakis rushed to express his support for the European Union and New Democracys ministers seemed all-promising of reform and EU-like governance. The New Democracy Program, published right before the 2019 elections, clearly indicates that the newly elected party plans on re-establishing Greeces position within the European Unions decision-making and economic standards.

Statistics from the International Monetary Fund (IMF) indicate that the Greek economy has been experiencing an upward trend in GDP growth, and that it is expected to accelerate to 2.5% within a year. This would place Greece in the upper-tier of the European Union in accordance to growth. The country is also beginning to see lower unemployment, and it is finally meeting its fiscal targets. Although there is still a long way ahead for the economy to run at an acceptable pace, Greeces humble economic flourishing combined with the emergence of Mitsotakis government could be the start of a rejuvenated relationship between Greece and the EU.

The election of Mitsotakis brought the last piece of the puzzle togethera pro-EU governmentfor Greece to become the EUs success story.

Now experiencing growth, following a recession longer than the Great Depression, Greece can be characterized as an example of how a member states economy was aided by the ECBs constant pushing for economic reform, the loans that came at grand costs to other member states, and the long suffering of the Greek people for half a decade.

People could start considering the possibility that the Greek case is evidence of a successful relationship with the European Union. Greece can be considered an example of how the EUs guidance in the amelioration of a member-states economy, and that the process of revival can be done without the unsalvageable destruction of the member-states relation with the Union and the other member-states.

In the context of having a relationship with the European Union, the hardships of the 10-year journey out of austerity have led to marked improvement. However, there is still much left to be done for Greece. Kyriakos Mitsotakis has yet to deliver what has been promised in relation to socioeconomic reforms and Greeces stance towards the Union. Unemployment is still abnormally high for a European country, taxes remain elevated, and political turmoil is far from over.

It is too early to be conclusive on Greeces status as an EU success story; however based on the trajectories of both economic growth and the countrys relationship with the EU, there are signs of a correlation between the two. Based on the current political situation and the economic circumstances pointing out positive growth, one could say that Greece is going in the opposite direction of other Euroskeptic countries. Amidst a flurry of Euroskeptic sentiment from even the EUs strongest members, Greece has subverted all expectations and is showing hopeful signs of economic success while hand in hand with the EU.

Edited by Elizabeth Hurley

Here is the original post:

Greece: An EU Success Story? - The McGill International Review

Readers note: As per policy we do not publish any election-related submissions in print in the final edition prior to voting day, which in the case of Cranbrook Townsman and Kimberley Bulletin is Friday, Oct. 18

Forgetting history

Rick Stewarts interview seemed to me to reveal a forgetfulness of history and and a refusal to face the future. All of us, except the indigenous peoples whom our ancestors displaced and to whom we still owe reparations, are descended from immigrants or are ourselves immigrants. This is a multicultural country. Our population includes Ukrainians who fled persecution in the early 1900s, Europeans from many countries who looked for a better life after WW II, Ugandan Asians expelled by Idi Amin, Vietnamese boat people, Syrian and other refugees from recent conflicts and many, many others, often under the aegis of the United Nations. All these groups have made their contribution to Canada.

As to his attitude to the climate crisis and the inevitable changes it will bring to the fossil fuel industry, he seems to be clinging to the hope that things can stay the same, forgetting that spinners and weavers were displaced by machinery, carters and blacksmiths by the the combustion engine, assembly line workers by robots, just as Internet shopping is now displacing traditional retail and AI will likely take over many administrative jobs in the future. Fortunately for us, unlike the spinners and weavers, if every corporation and citizen pays its fair share of taxes, our society can support people during the transition from a fossil fuel-based economy and, in the process, provide thousands of new jobs, all the while providing ongoing education and healthcare. We are so fortunate to live in a rich, democratic country.

Our school children and their children will bear the brunt of the climate crisis unless we act immediately to reduce global warming and it seems to me that teaching them about it, thoughtfully, so as to empower them, is essential.

Coralie Kittle/Kimberley

Climate Forum

I attended the climate change forum in Nelson and left the gathering with the same sense of concern and urgency that I arrived with. Despite the alarms being set off by young activists like Greta Thunberg and Autumn Peltier, I still do not see a willingness to take bold and decisive action nor an ability to see the tremendous opportunities that a move to renewable energy will create. Its not just young activists that are sending us dire warnings, its also the planet and nature who are showing us the consequences of doing nothing more than we are currently doing.

I was proud to be a Liberal candidate in the last election and had sincere hopes that Justin Trudeau would be that new leader who would move quickly and decisively on electoral reform and climate change. The first simply disappeared and the second has moved much too slowly and has been pretty difficult to comprehend. Im still struggling to understand how buying a pipeline is consistent with declaring a climate emergency. But, I dont want to repeat the talking points and party platforms that were discussed last night. I want to do something.

I will be voting for Abra Byrne and the Green Party on October 21st. My preferred result for the election would be a minority government (which is highly likely) with a strong Green Party representation (also likely) to force action on climate change. We could end up with an opportunity to see the strength of proportional representation with parties having to work together, and quick, meaningful action on climate change. Electing Abra would place the Kootenay Columbia riding in the forefront of voting strategically to join the massive global movement now underway to get serious about climate change. The environment is everything, especially in a place like the Kootenays.

Don Johnston/Nelson

Climate Champions

A few points as we head to the polls:

The science is clear: climate change is a global emergency that affects us all and we have limited time to act. This is Canadas last federal election before its too late for real positive change. Please consider your vote carefully.

Carbon pricing and eliminating fossil fuel subsidies are critical incentives for moving to a low carbon economy. The Conservatives intend to cancel the price on carbon for consumers, and wont commit to eliminating subsidies. Projections show that the Conservative climate plan overshoots Canadas commitment to the Paris Agreement well beyond other parties. (The Green plan is the only one that reduces carbon emissions below the Paris Agreement.) The Conservatives are not interested in talking about helping the average family, worker and individual to transition to a low carbon economy. Perhaps many years ago this was a party that was fiscally responsible, and had the hard working Canadian in mind. But the times have changed and it has not kept up. Fiscal responsibility must include assigning value to the basic requirements to sustain life. The longer support for transition is delayed, the harder it will be. And Canadians will go down too.

In Kootenay Columbia Riding, Stetski (NDP) and Brynne (Green) are the climate champions. This is based on the comprehensive strong Green Party plan and collaborative cross sector experience for Abra, and for Wayne, this is based on LeadNow consultations which demonstrate his non-partisan commitment in line with a Green New Deal, as well as likelihood for winning the riding. Polls show the NDP have the most likelihood of winning this riding after the climate inattentive Conservatives. So given our limited first-past-the-post electoral system, I will vote strategically for the NDP.

Stetski is a strong climate advocate and has proven himself as a hard working MP who has also defeated a Conservative candidate in this riding in the past. The polls show he can do it again. On Oct 21, Im voting NDP: Wayne Stetski, and encourage those in support of responsible fiscal and social climate policy to consider doing the same.

Sue Cairns/Cranbrook

Role of MPs

The role of our elected MPs and MLAs is to represent all constituents, not just those who voted for them, think like them, or look like them. Our system of representative democracy depends on this. But in the 2019 election, democratic principles appear to be detached from partisan interests. As a case in point, consider the Kootenay-Columbia ridings Conservative candidate Rob Morrisons practice of blocking and banning voters on his candidate Facebook page.

Im part of a network of citizens across the riding which convenes online to discuss politics. A number of our members have attempted to contribute to conversations on Mr. Morrisons Facebook pages; the list is growing. Alas, it seems he does not want to know their views or discuss his own views. He has blocked and banned some of his potential constituents when he disagrees with them, or when they provide comments that challenge his positions.

As one person on our network said, Many people have told me that they were banned from Rob Morrisons Facebook pages. What does that say about his willingness to listen to voters? Since he clearly only wants to hear from certain people; how can he possibly represent us all? If Mr. Morrison and other similarly intolerant politicians cannot hear from us now, it seems unlikely they can represent us if they win. This kind of politics damages our democratic order and our form of representative government. We need politicians that listen to us all.

Joyce Green/Cranbrook

Fairy Tale World

Throughout the federal campaign I have been waiting for our MP to take a stand on natural resources such as the coal industry and the forestry industry. Mr. Stetskis answer has always been to have people refer to the 112 page NDP document which spells out their vision for Canada. Mr. Stetski and the NDP want to rid Canada of its extraction of fossil fuels and live off of renewable energy. There is one fundamental flaw with their entire vision, which was backed up this week by the parliamentary budget officer. With all the niceties, such as free everything you still have to be able to pay for it. Their costed promises cannot be done without the extraction of oil, gas and coal along with other hard metals that are in abundance in Canada.

In the fairy tale world of the NDP we will magically find the free money and all will be good in the world. Wayne Stetski what I would like to hear from you and not the 112 page vision statement of the NDP is the following. Do you support the fossil fuel industry which is needed to further the agenda of the NDP? How do you intend to pay for all of the freebees you plan on providing Canadians without the multibillion dollar oil, gas and coal industries fueling our economy both at home and abroad?

In the recent down turn of the oil, forestry and coal industries the only thing we hear from the NDP is a desire eliminate these industries. Rather than trying to destroy what makes Canada great, why dont you and the NDP try working with these companies rather than criticizing their every move.

David Wilks/Sparwood

Theres a vote strategically narrative going around again this election period. Ive been guilty of spinning it in the past too. What that narrative does, is create fear in people, that if they dont vote to support the NDP, that the Conservatives will get in again. The result is that their desired candidate, and I mean the Green candidate, cant possibly win if the majority of their support goes to someone else.

In speaking with many Greens who really want to vote Green, but are being convinced to vote NDP Im hearing that it really bothers them. It bothers me too. Thats why, this election, I am voting Green as I have wanted to for years.

The strategic vote narrative also includes the need for proportional representation. The Greens will bring in PR, period. No referendum after one or two voting periods.

It is this election, at this time in our global history, that I need my vote to count for the party that can do the most to combat the climate crisis. The Green party has the most aggressive climate action plan that will meet or exceed the Paris Accord. No other party will achieve that.

7.5 million people marched out of schools and businesses demanding that we act on the climate crisis. We dont have another four years to wait for a change in leadership for something to get done. It must be now.

A young woman said to a group of us one day that your vote wont affect you as much as it will affect my future.

For the Planet,

Sharon Cross/Cranbrook

Concerning Robin Goldsbury

Why I support Robin Goldsbury for our Kootenay-Columbia Member of Parliament

I had the pleasure of attending three all-candidate debates (Kimberley, Sparwood and Fernie) and recorded responses from the candidates that support my decision to vote for Robin Goldsbury. The significant topics were youth, seniors, climate change and housing. Goldsbury is experienced and knowledgeable about the issues in Kootenay-Columbia. Her authentic, local voice for our rural British Columbia riding and her passion for representing us in Kootenay-Columbia are refreshing!

When discussing the social well-being of youth in Canada, Goldsbury supported universal access to post-secondary and skills training while the Conservative candidate simply responded, youth think differently. When responding to the healthcare/opioid crisis in Kootenay-Columbia, Robin understood that trauma creates addictions, while other candidates stated, addiction is a choice (Morrison) and get criminals off the street (Stetski).

During the discussion addressing how the values of seniors will be met, Goldsbury addressed the importance of access to healthcare, health practitioners and homecare. Morrison supported getting seniors back to work, Brynne supported increasing pensions, and Stetski supported financial security for seniors. What good are jobs, pensions and financial security if we dont have access to quality, accessible healthcare a tenet of life in Canada?

In responding to the climate crisis facing us locally and globally, the candidates stated they supported pipelines, recycling and the energy sector (Conservative), a 20-step action plan and increasing carbon pricing (Green) and renovating houses and supporting future jobs in the green energy economy (NDP). Goldsbury strongly stated, We need to act! Were running out of time! (receiving applause). She supported the importance of the Columbia River Treaty renegotiation and massive programs on greening including transportation, ocean protection and residential energy efficiency while advocating Canadian resource companies who are leading the way.

While discussing Kootenay-Columbia housing issues, Goldsbury supported incentives for businesses to create employee housing and building up the supply side of affordable housing by local, municipal, Indigenous, provincial and federal governments/agencies pulling together. The other candidates suggested removing red tape, a national housing strategy and resorted to reading directly from lengthy party platform documents.

Robin Goldsbury stresses the importance of Kootenay-Columbias sustainable vitality, inclusive collaboration in government, and serious solutions to local issues. Her open, personable approach to sharing policy, research and statistics while genuinely caring for us in Kootenay-Columbia reflect her work-ethic and integrity. Goldsbury possesses the qualities of an ideal government representative who will work persistently while championing our voices in our region, province and country.

Cynthia Moore/Kimberley

Read the original:

Election Letters to the Editor - Cranbrook Townsman