LyrArc Article Gist
Sri Lanka's state owned Ceylon Petroleum Corporation has $700 million in debt that it cannot repay resulting in fuel shortages as it cannot finance imports of oil. Depending on Indian financial help for fuel that after $4 billion in aid is not sustainable, says Wickremasinghe, who is finance minister and prime minister.

Deep rooted errors in management of the economy now need to be corrected and this will require increase in income taxes, cutting public expenditure and breaking down loss making state monopolies, are needed. Wickremasinghe says "if the government misses this opportunity this would be a crime."

LyrArc Article Gist
This Observer view in The Guardian reflects on the issues raised by British chancellor Rishi Sunak's tax affairs. It says that this shows politicians are out of touch with what ordinary people are going through after the pandemic and the rising cost of living during the Ukraine war, with an increase in taxes. A recent Observer survey shows that only 6% of people feel the politicians are sensitive to voter concerns for fairness, and 78% think politicians are not able to understand the difficulties ordinary people in Britain face in day to day living. 

 

 

LyrArc Article Gist
Romney emphasizes that he supports some of the popular parts of the Obama Healthcare Law such as coverage for people with pre-existing conditions. He tells voters he got everybody in his state insured. He also says there will not be a huge cut in taxes that would worsen the deficit. He would close loopholes and deductions to offset any deductions as shown by his advisor Harvard economist Martin Feldstein. The idea is to get a message across that will resonate with women, minorities, the middle class, workers, and business- the 100%, something he is able to do with some credibility having come from Massachusetts, a liberal state in the eastern United States.

LyrArc Article Gist
Opinion polls in France show a drop of 20 points in popularity for president Hollande after just 6 months in office, from 60% to 40%. Hollande is seen in France as slow to make decisions compared to his predecessor Sarkozy. Hollande has suffered in popularity over the decision to increase value added taxes to give tax rebates of $26 billion to companies hiring new workers starting in 2014. The opinion to the left is that this hurts the working class which has to pay more in taxes. Jean-Luc Melenchon of the Leftist Front, which asked voters to vote for Hollande, went so far as to cal the program "a shame." And the Greens with two ministers in the government have discussed withdrawing from the government. The conservative supporters of Sarkozy question the need to wait till 2014 considering the 10% unemployment and closing factories. They also cite the $39 billion figure recommended for payroll tax cuts, not tax rebates, by the commission setup by Hollande to look at ways to revive the economy. Centrist parties say the bloated government which takes up half of the economy is a cause of the problems. Hollande's Socialist supporters question the wisdom of moving this quickly to reduce the budget deficit to 3% of GDP by 2013, as required by committments to the EU, especially now that the downturn is seen by the EU, the IMF and the Bank of France as prolonged....

LyrArc Article Gist
The low pay for teachers in Sweden and Germany. A gross salary of 2500 euros per month is considered standard for teachers in the Stockholm area. Here a teacher points out that it is unfair that teachers are not paid better. With taxes cutting into the pay check even a senior teacher earning 42,000 euros a year or about 4000 euros a month is left with only about 36000 euros or 3000 euros per month to live on.

LyrArc Article Gist
Photographs and descriptions of a picturesque cycling tour through some of the best scenery in New York state all the way to Canada. From New York City head straight north by bicycle through Poughkeepsie and Albany to Rouse's Point and the Canadian border for a cycling route of 400 miles. The NYT shows Jane Margolies doing this bicycle route in small sections and having her husband drive her back, till she had reached the Canadian border. It is actually 2 sections- a Hudson Valley trail and a Champlain Valley trail that takes one to the Canadian border. A separate trail takes one from Albany to Buffalo. The entire stretch is 750 miles which was completed at a cost of $200 million. It showcases New York's history and natural beauty,

LyrArc Article Gist
Jacob Rees Mogg takes issue with renewable energy projects in UK, reversing UK's commitments to renewable energy at COP26 Glasgow. 

LyrArc Article Gist
Clicking on the light bulb shaped icon at the bottom of Amazon's app takes one to a feed that shows short videos on products buyers can purchase. This type of short video format is becoming popular on Amazon and Google in 2022-2023.

LyrArc Article Gist
So far the Italian government has already recovered $15 billion for 2011 in its fight against tax evasion. The fight includes an advertising campaign depicting tax evasion as anti-social activity and vigorous enforcement by tax officials and the financial police. Italy has already banned cash transactions to reduce possibilities for evading taxes. This problem is severe in Italy because the underground economy is about 17.5% of GDP. An estimated $150 billion is lost to the Italian treasury from tax evasion. As a result Italy has a chronic budget deficit problem and is not able to make necessary investments in improving competitiveness to keep up with other countries. This may be one of the lasting achievements of the new administration of Mario Monti, along with its efforts to change the way the public thinks about other issues including labor laws that place large burdens on small companies in hiring practices. Italians sense the need to change the way they think about taxes because this is one way to reduce the burden of austerity measures- higher tax revenues could enable lowering taxes. It would also enable investing in improving competitiveness that would the economy grow and provide the jobs to reduce the high unemployment rate among young workers. One of the lasting positive aspects of the eurozone crisis is the change in the way the people and society think about many issues....

LyrArc Article Gist
The Guardian's Jamie Jackson writes about the style and genius of Pep Guardiola as he takes Manchester City to another Premier League title. Guardiola says that when he loses people do not blame him but ask how they can help him more. 

LyrArc Article Gist
Report from Smart Ageing Summit at Oxford 2026. It rejects the notion common in society that physical decline is inevitable with age. It puts the responsibility of good health on healthy living which means about 80% of the responsibility is on each one of us to maintain good health. Things that are important says this report are completely abstain from alcohol, avoid processed foods (what RFK Jr is telling us as Health Secretary), prioritize sleep, cultivating a "not-meat" mindset, not eating after 6.30 pm. Other studies such as the Oxford Population Health with half a million UK participants show environmental exposures and healthy living habits have far greater importance than biological ageing and inherited genetics. Which also supports this conclusion that it is upto each one of us to build a better quality of life as we age. We assume here that the society we live in is healthy and there are no natural disasters such as climate change or human made disasters such as wars and conflicts, human exacerbation disasters such as not investing in healthcare, education and infrastructure for good public services such as transportation, parks and recreation. Yet that cannot be taken for granted and it is also important for our own healthy living and our spiritual health to invest some of our time and put our money into making sure that this investment takes place in building a healthy society and environment to live in. We do this in our civic life, as parents at parent teacher meetings, as custodians of the environment, being active in our neighborhoods, in business practices, and in supporting and monitoring investments in education and healthcare for our communities. ...

LyrArc Article Gist
Canada's pitch to the US before tough negotiations with Jamieson Greer to preserve Canada's automobile industry, its aluminium industry, dairy industry with benefits gained in the past. US had also put forward its pitch for 82% North American content and 50% of it from the US for all automobiles sold in the US. Carney takes a positive approach presenting Canada as a strong partner that would Make America Great Again by offering its vast mineral resources, and its resources of oil and LNG. It says LNG will double from 2030 to 2040 from 50 million to 100 million tonnes of LNG annually. 56 critical minerals agreements with $18 billion in investment, doubling the electricity grid for lowest cost power and second lowest emission in OECD countries. Canada is an anomaly in trade says Sir Ivor Jennings in his book on the British Commonwealth. Its trade east to west is an anomaly when if it was truly apart of the North American economic region it would trade north to south. This is the result of Montgomery's failure to take Quebec during the War of Independence as Washington planned the war with Britain. For instance Ontario would trade with Vermont and New Hampshire and New York near its borders. Instead the dairy industry in Canada operates in competition with the US and sends product east to west. Washington and Oregon are not trading normally with neighbors British Columbia instead shipping product back to eastern Canada. For years the US allowed Canada and Mexico benefits in trade that hurt is own auto industry. Jamieson Greer is expected to change this so that US manufacturing can compete with China and European Union on a level playing field. ...

LyrArc Article Gist
As Dr Harsh Vardhan, India's representative and Health Minister, takes on responsibilities as the Chairman of the Executive Board of the World Health Organization this can be said about this critical juncture.The WHO is going through soul searching and a reevaluation of how it has implemented the vision of its founders during the closing years of a world torn apart  by war in 1945, and actual founding in 1946.  At the UN conference in San Francisco in 1945, Dr. Szeming Sze of China, Dr. Geraldo da Paula Souza of Brazil and Karl Ewang of Norway, were keen to set up an international organization for cooperation on health. The Indian representative was Arcot Ramaswamy Mudaliar, a member of Winston Churchill's War Cabinet, who chaired the committee on economic and social problems. He was the president of the Economic and Social Council which called for an international health conference in Feb. 1946. It was at that conference on 19 June 1946 that the World Health Conference came into being. A native of Madras he then returned to Mysore as chief minister. The vision at the time for international cooperation on problems such as smallpox which killed 2 million people each year were quite different from the fast moving epidemics with international travel in 2020. Today 4.4 billion passengers traveled by air in 2018, according to International Travel Association, 100 times compared to less than 40 million in 1950, and about 10 times the 400 million when Nixon's visit opened up China in 1972. The world we live in is different and the World Health Organization needs to be redesigned for the 21st century. The entire process of how the WHO operates has to be rethought. Immediate steps include- 1. The appointment by Executive Board should be reinstated as this is more representative of the world population and the major centres of advanced public health, including the major countries. Throughout its life the WHO made appointments through the Executive Board not by election. The election in 2019 by 200 countries was actually not representative of the world population as it gave India, Brazil and other early founders at the 1945-46 conferences only 1 vote each with population of 1.2 billion and 210 million, the same as tiny countries Barbados population 385,000 and Laos 7 million. 2. Reassessment of the entire process in which nations are requested to give permission of teams from major countries in Europe, North America and Asia, major population centres, so that the 6-7 week delay between the U.S. request to China for a special team to go to Wuhan on January 6, 2020 and the permission granted Feb 16, a costly delay of 7 weeks which added millions of cases and hundreds of thousands of deaths. In a super fast moving pandemic with international sports stadiums and 4 billion air passengers spreading it like wild fire around the world, there is little room for error, every day counts. Never should this happen again, as Dr. Sze Szeming China's representative said once in 1945 we must learn from mistakes, as mistakes were made in the years before World War II that were costly for China, India, North and South America, Other Asia, Africa, large population centres. 3. As was the effort then in 1946 and the early years, the effort to keep the staffing positions of leadership in the World Health Organization should be kept far from politics. Very experienced and capable people are needed from major countries with long records of public health experience and committed to the huge task, as was the vision of the founders.     ...

LyrArc Article Gist
Former German chancellor from the SPD party, Gerhard Schroeder, is interviewed by Rayond Zhong of the WSJ. Here he describes his views on the way Agenda 2010 was implemented in 2003 in Germany to gain public support for changes to Germany's welfare state. He also talks about the eurozone crisis and how Angela Merkel has handled the crisis, and the right approach for an Agenda 2020 for Europe. The interview was made at Schroeder's law office in Hannover, Germany. This is a detailed and exceptional interview by Zhong covering all facets of the eurozone crisis and Germany's response. Schroeder says it was right to give Greece more time to make the reforms, so that the Greek people could see that this path would help in a positive way. In doing this he cites his own experience when as the reforms for Agenda 2010 to make Germany more competitive were taking place- including cuts in spending and lower taxes- he turned down his finance minister Hans Eichel's proposal in 2003 for an additional 20 billion euros in cuts to put Germany in compliance with EU law....

LyrArc Article Gist
US 28 Point Peace Plan for the Russia- Ukraine war put out on November  20 2025 and the Ukrainian response. Ukraine and EU plans for counter proposals on some of the key points. Zelensky says Ukraine may have to choose between losing a partner and dignity in his message to the Ukrainian nation as the US takes a neutral stand in the war and pushes for a settlement which Ukraine and Europe see as "capitulation."

LyrArc Article Gist
This WSJ editorial points out that the biggest thing in Mr Renzi's favor is the desire for change in Italy, and the public frustration that favors "haste and boldness." Renzi's changes to the tax code are needed as many middle class Italians take less than half of their pay after taxes. Business will get relief from high payroll taxes to boost employment and create new jobs. The current payroll taxes of between 28% to 30% for employers and another 9% for employees are too high.The lower taxes should also reduce the part of the economy that is underground and increase tax revenues. One opinion survey show 48% of Italians favor leaving Italy because of the economic stagnation, another reason to move with speed on the changes.

LyrArc Article Gist
Planning for upcoming elections for state legislative assembly in Gujarat state of India takes place with the appointment of a new chief minister for the state. This takes into account the importance of the Patidar or Patel community in the trade and commerce, cultural life in Gujarat. The new chief minister is from the large Patidar community in Gujarat. The Indian political state government administration and legislative assembly elections involve building coalitions between communities in different subregions of states, with a core program of rapid development of infrastructure and industry. The major difference in recent years is speed and rapid delivery for infrastructure and services.

LyrArc Article Gist
The European Central Bank follows the US Federal Reserve in raising interest rates. The ECB raised rates by half a percentage point. The Fed earlier raised rates by three quarters of a percentage point. The effort is to tackle inflation before it takes root in US and Europe.

LyrArc Article Gist
Ketanji Jackson is confirmed by the US Senate 53 to 47 as US Supreme Court Justice. She takes the place of Justice Breyer who retires this year. This leaves the Supreme Court at 6 conservatives to 3 liberal members of the court, favoring conservatives following appointments by president Trump.

LyrArc Article Gist
India takes on the presidency of the UN Security Council in August. India will be a supporter of international law, says External Affairs Minister S. Jaishankar. Maritime security and UN peacekeeping will receive India's attention. India is elected non-permanent member of the UN Security Council.

LyrArc Article Gist
Climate change is transforming the iconic Rhine river in Germany as water levels drop. Adrian Schmid-Breton, geographer and drought expert at the International Commission for the Protection of the Rhine takes us on a trip to the Rhine in this 31 minute podcast on DW.com

LyrArc Article Gist
The St. Lawrence Seaway as it winds its way through Quebec City past the plains of Abraham and further upstream to the Atlantic, presents some of the finest landscapes and views on the North American continent. Here NYT Travel takes one through the river to the Gaspe Peninsula.

LyrArc Article Gist
After years being driven by others as government officials or party leaders, going back to civilian life can mean learning how to drive. Here Nicola Sturgeon Scottish leader takes her driver license test in Scotland and relearns driving skills after her resignation as head of the Scottish government.

LyrArc Article Gist
The world of video games has changed since Nintendo brought out its first video game. It is not likely to recover its earlier momentum.

LyrArc Article Gist
France's finance minister Bruno Le Maire announces a $45 billion effort to cap energy price increases for electricity and gas to 15% increase. Earlier efforts had capped the increase to 4% till the end of 2022 in a tariff shield (bouclier tarifaire). France's public accounts minister says the budget being presented is "a budget to protect." Windfall taxes on energy companies will reduce the cost of the $45 billion to $12 billion. Other protection is offered in the form of increasing income tax brackets by 5% to lower the tax burden. In the absence of this effort the energy prices could have increased by more than 60%, says the Finance Ministry.