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Generational Dynamics Web Log for 7-May-2011
7-May-11 World View -- Greece denies the rumors that it's leaving euroland

Web Log - May, 2011

7-May-11 World View -- Greece denies the rumors that it's leaving euroland

Protesters defy Syrian army by moving to another town

This morning's key headlines from GenerationalDynamics.com.

Greece denies the rumors that it's leaving euroland

Friday was another one of those days where all you can do is just shake your head in disbelief. It all started with a Der Spiegel story that a secret meeting of finance ministers was to be held in Luxembourg on Friday evening to discuss Greece's massive problems, with the possibility that Greece would abandon the euro currency and reintroduce its old currency, the drachma.

This set off a frenzy, as Greek officials denied the report, according to capital.gr:

"The report regarding the forthcoming exit by Greece from the euro zone, beyond the fact that it is untrue, is written with inconceivable frivolity given that fact that it has been repeatedly denied by the Greek government as well as the other governments of the European Union. Such reports are a provocation and undermine the efforts of Greece and of the euro, and serve speculators. ...
The report is not true, it's factually wrong. We have no intention to leave the euro zone. [The report is] ridiculous. ... I haven't heard anything about such a meeting taking place."

Well, Dear Reader, hold on to your hat, because you're not going to believe this: There WAS a meeting in Luxembourg, attended by finance ministers from Germany, France, Netherlands, Finland, and ... wait for it! ... Greece, according to the Telegraph. The agenda for the meeting was restructuring Greece's debt -- a form of default that would write doen billions of euros, potentially imperilling Europe's banks, particularly those in Germany.

However, officials denied that Greece leaving euroland was being considered.

Protesters defy Syrian army by moving to another town

Protesters in Lebanon showing solidarity with Syrian protesters (Reuters)

Protesters in Lebanon showing solidarity with Syrian protesters (Reuters)

Syria's government used blockades and tanks in the hope of preventing the regular Friday anti-government demonstrations after midday prayers, but tens of thousands of them protested in cities across Syria on Friday, as a "Day of Defiance." The city of Daraa, which has been the epicenter of the protests, was surrounded by tanks, but that didn't stop the protesters, who flocked to the nearby town of Tafas, and gathered in a square near the old mosque, carrying placards with the word "leave." Reuters

Tunisian police break up anti-government protest

Violence against anti-government protesters is increasing in Tunisia, whose "Jasmine Revolution" started the uprisings across the Arab world. Tunisian police with teargas and batons scattered protesters demanding the government's resignation on Friday in the most violent confrontation for weeks. The demonstrators say that they fear that July elections will bring Islamists into power. Reuters

China begins 'military diplomacy' with its concerned neighbors

China's neighbors in Asia have been become increasingly alarmed about the increasingly confrontational actions in claiming sovereignty over islands in the South China Sea that have historically been claimed as sovereign terroritory of other countries. Thus, the People's Liberation Army (PLA) has launched a military diplomacy program to convince neighbors that the PLA are really very nice guys after all. Whether this "smile diplomacy" is really propaganda warfare remains to be seend Jamestown

However, China's "military diplomacy" is not working with the Philippines, where there has been a military confrontation with the Chinese over Reed Bank, an island in the South China Sea claimed by the Philippines. On March 2, two Chinese patrol boats aggressively approached a Filipino survey ship near Reed Bank, forcing it to flee. The incident is causing the Philippines to increase its military strength in the South China Sea, with the help of the U.S. Vietnam and Malaysia have also upgraded their military strength in response to China's threat. Jamestown

EU gives extra 85 million euros to Palestinians

The reconciliation agreement between Hamas and Fatah has caused the Israelis to withhold tax collections from the Palestinian Authority, for fear that any money given to the PA would be channeled to Hamas's terrorist activities. The Israelis collect the customs duties and other levies on behalf of the PA, and currently owes the PA $105 million. However, the European Union, pointing out that the PA needs the money to pay salaries of essential workers and provide benefits, said on Friday that it would provide an extra $124 million to the PA. This is in addition to the $145 million already approved for 2011. Reuters

Pakistan's intelligence chief heads for Washington and possible resignation

File photo of ISI chief Shuja Pasha. The photo on the desk next to him is of Benazir Bhutto, the assassinated wife of Pakistan's president Asif Ali Zardari.

File photo of ISI chief Shuja Pasha. The photo on the desk next to him is of Benazir Bhutto, the assassinated wife of Pakistan's president Asif Ali Zardari.

Chief Lt-Gen Shuja Pasha, the head of Pakistan's Inter-Services Intelligence (ISI) agency, headed for Washington on Friday to smooth relations with the U.S. The apparent incompetence of the ISI following the killing of Osama bin Laden has thrown the agency into crisis, and there are rumors that Pasha will be used as a scapegoat and be forced to step down from his position. Dawn (Pakistan)

'Rich Nations' miss climate change fund deadline

The "rich nations" have missed a U.N. deadline for providing information on how much money they're going to give to a proposed $30 billion fund to help developing nations adapt to climate change. Everyone was supposed to provide a statement by May 1, but among the industrialized nations, only Russia and Ukraine provided statements, and both of those statements said that they weren't going to contribute anything. Reuters

(Comments: For reader comments, questions and discussion, see the 7-May-11 News -- Resignation of Iran's president Mahmoud Ahmadinejad may be imminent thread of the Generational Dynamics forum. Comments may be posted anonymously.) (7-May-2011) Permanent Link
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Generational Dynamics Web Log for 7-May-2011 7-May-11 World View -- Greece denies the rumors that it's leaving euroland

Greece denies the rumors that it's leaving euroland

Protesters defy Syrian army by moving to another town

Tunisian police break up anti-government protest

China begins 'military diplomacy' with its concerned neighbors

EU gives extra 85 million euros to Palestinians

Pakistan's intelligence chief heads for Washington and possible resignation

'Rich Nations' miss climate change fund deadline

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Generational Dynamics Web Log for 7-May-2011
7-May-11 World View -- Greece denies the rumors that it's leaving euroland