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LyrArc brings in selected articles from many of the world's top publications.

Articles are selected by experts and you can see the gist of the important articles.


The Times Original article ›
LyrArc Article Gist
As the pandemic continues to spread and numbers grow with reopening of the economy the question remains -what can we learn from other countries positive experience in controlling spread? Here the Times provides the example of German contact tracing- chancellor Merkel has emphasized that a lot depends on "total" contact tracing, and contact tracing "above all else." Germany's experience is that even if you don't get everything right, you make an honest effort with everything you've got and do it early it makes a real difference. Some of the offices across Germany are stretched and short of staff but they have been working since the beginning of March, sometimes in the early days 7 days a week. Only 33% or one third of the offices throughout Germany for contact tracing have the required 5 person team for every 20,000 people, and 35% are overstretched or at their limit, according to one survey. No apps, just a low tech effort with people from the state administrations who were not working during lockdown trying doing something else, or volunteers. Mainly using the phone, talking to people and tracing the contact chain of people testing positive. Putting this information on the computer with a central database.  The Berlin office has 115 workers and has tracked down every one of 666 virus cases it was given. Because of privacy concerns at the Munich office sometimes even the patient's name is not given and office staff have to locate the name and the person. It requires dedication, flexibility and above all resilience, says Harold Rau, the deputy Mayor of the Cologne office, cited in this Times report. The doctor alerts the local office with a test result. The office calls the person and finds out who he has been in contact with for the last 14 days. Then the people who were in contact with are grouped based on the directness of contact, face to face, so on. These people are asked to quarantine for 14 days, sometimes with the rest of their household. They get daily call to find out how their doing for symptoms. The effort goes back to Robert Koch in the 1892 cholera epidemic in Hamburg. Robert Koch, microbe hunter in Germany, was called in after the epidemic spread from Moscow. It devastated Moscow and Tokyo, but Hamburg suffered far less about 8605 deaths as a result of the contact tracing and strict closing off quarantining of affected chains after isolating them, closing off affected parts of the city. Bit by bit the cholera epidemics sparks were put out before turning into flames, says Koch. In the current pandemic Germany has suffered 8241 deaths and 178,000 confirmed cases. So far this is in line with the cholera epidemic in Hamburg 1892, and this for all of Germany. And it is not just affluent nations that can do this. where there is a will there is a way. In Kerala state in southwestern India, similar efforts have worked to limit spread  with even better results than Germany. ...
BusinessWeek Original article ›
LyrArc Article Gist
President Obama in his speech at Georgetown, April 13, 2009, describes the thinking behind the decisions made in the first 12 weeks of his administration- why the actions are not aggressive and overreaching as some critics say, and why they are not timid as other critics have said. This was not a typical downturn of the business cycle, but a perfect storm arising from irresponsibility and poor decisionmaking in Washington, Wall Street and Main Street- in effect several crises colliding for something like an explosion, if not dealt with at once, and with strong action. He says "the key to dealing with our deficit and debt is to get a handle on out-of-control health care costs, not to stand idly by as the economy goes into free fall." The recognition that the crisis itself brings with it new possibilities, the opportunity for coming to grips with and forging a good solution to health care, energy and education issues that were neglected while Wall Street directed investments to areas other than investment in building for the future. To the critics like Krugman, Rosenfeld and others who say that the takeover of insolvent banks should be done quickly before the situation worsens, he says it is not because of any ideological or political judgement he has made about government involvement in banks, but because it is more likely to undermine than create confidence at this point. He goes on step by step, through the process of decisionmaking, first to step in and boost spending vigorously, second to get lending flowing again to businesses and families, strengthening the non-bank credit market for consumer purchases and loans, the housing plan, the auto plan, and the work at the G-20. Then President Obama goes on to project his vision and the road to getting there. The five pillars he sees for the future are: redirecting Wall Street and banking to constructive investments for the future, investments in education, investments in renewable energy and technology to create new industries and new jobs, investments in health care to cut costs for businesses and families, and new savings in the federal budget to bring down the deficit. Obama says he will look for savings line by line in every corner of the budget, and has already identified two trillion dollars in deficit reductions over the next decade. And the goal is to reduce discretionary spending for domestic programs as share of the economy by more than 10% over the next decade. Procurement reform will greatly reduce no-bid contracts and save $40 billion. Secretary Gates is attacking th problem of hundreds of billions of dollars in waste and cost overruns that have bloated the defense budget, without adding to the nation's safety. And education programs that don't work will be removed, and waste, fraud and abuse in the Medicare program will be controlled. Finally, Mr Obama points to the nation's political system as one more reason we are in this perfect storm- "a fundamental weakness in our political system." He cites the putting off hard decisions for another day, scoring political points instead of rolling up up sleeves to solve real problems, an impatience that is only worsened by the 24 hour news cycle, and a short attention span that focusses on the immediate results and on poll numbers. And there is too much responding to the "tempest of the moment until the furor has died away and the media coverage has moved on, instead of confronting the major challenges that will shape our future in a sustained and focussed way." After these 12 weeks President Obama says, for the first time there are glimmers of hope, and way off in the distance can be seen a vision of America's future that is far different than its troubled past. And citing the parable in the Sermon on the Mount about that "house built on a rock", he sees America's house built on a rock, a house for which we use this moment to lay a new foundation, come together and begin the hard work of rebuilding, persisting and persevering in the face of disappointments and setbacks that surely lie ahead. Then he has no doubt "that this house will stand and the dreams of our founders will live on in our time." Its a remarkable speech in its directness, its simplicity in approaching the subject, and its borrowing from the Bible for that story of that house built on a rock, and its Lincolnesque reference to the house that will stand. And more than a speech, it describes a vision, and the set of actions and steps taken and to be taken to get there. ...
WSJ Original article ›
BBC News Original article ›
LyrArc Article Gist
Edison's learning mindset and his persistence has lessons in work today.

These lessons apply to individuals as well as countries and groups, to create a thinking mindset. Will this plan work, what are the assumptions and what is it based on, test it out. If it fails try changing it. Test again. Does it work. What were the assumptions and what is it based on, what if we change this part. Try again. In this way Edison found answers to difficult problems in his inventions. 

The search for a vaccine, other problem solving at the individual, small group, and national level, can be done in this way. For the vaccine there is the added factor of time- how quickly can we do this? The Oxford vaccine works with an approach that has worked for other types of coronavirus in the past research efforts, what component can be changed or inserted so that a tested approach can be used instead of starting from scratch in this case.

WSJ Original article ›
LyrArc Article Gist
Abrams and De Acosta, Bellman of the WSJ look at growth and modernization in India in comparison with China and other countries. GDP per capita would take 10 years to reach the stage at which spending power of the people equals that in China today. At one point in 1980 China and South Korea were closer in GDP per capita than India. It is only now that India is accelerating towards the scale and depth of modernization done in China.  India's growth rate of over 7% is likely to surge after some of the problems in bad loans in the banking sector are cleared up. A wave of technological advances would help accelerate growth. Ease of doing business and foreign investment are on upward trend, for absorbing new technology from advanced countries. A shift to very low prices for data use with rapid development of 4G services is one of the recent achievements. Manufacturing growth remains a challenge to be tackled to create the jobs needed.  Revamping tax structures such as GST and shifting the economy towards use of electronic cash has increased revenues needed to invest in infrastructure, health and education.  As much of the potential for future growth comes from people at the lower income levels, improving social indicators such as sanitation, cleanliness, farmer incomes, universal bank accounts, universal access to health care, are steps that lay the foundation for the future. ...
WSJ Original article ›
LyrArc Article Gist
Japan believes it can get what it wants through the negotiating style it adopted with Reagan and then Deputy Trade Rep. Lighthizer. It won't work. There is a new US president who know's Japan's approach to trade, and the US has a lot more experience with Lighthizer and Jamieson Greer his deputy running negotiations with Scott Bessent, some 45 years later.

DJT to Japan: “Dear Mr. Japan, here’s the story. You’re going to pay a 25% tariff on your cars, you know? So we give Japan no cars. They won’t take our cars.”

US says it will just send that message to Japan in a letter if it won't negotiate a level playing field and fairness in world trade.

The Times Original article ›
LyrArc Article Gist
So far 17 million people in the UK have received the Astra Zeneca vaccine.  35 cases of blood clots, 15 of pulmonary embolism and 22 of deep vein thrombosis have been reported across the UK and EU. In a normal year more than this number of cases of blood clots are seen say experts. These occur naturally in the population, including elderly population. Astra Zeneca's chief medical officer, Ann Taylor, says the number of blood clots in the 17 million people who have received the vaccine across Europe is actually lower than would be expected in the general population. The EU countries of Germany, France, Netherlands and Italy have temporarily stopped using it after 3 healthcare workers in Norway had blood clots. In Germany 7 out of 1.6 million had a rare condition of cerebral sinus thrombosis. Both EU and medical regulators say that there is no evidence that these blood clots are caused by the vaccine. The number of clots are similar to what was seen in the population before the coronavirus. Also this report in The Times says taken together there is no difference between the number of clots in the population that received the Pfizer vaccine or the Astra Zeneca vaccine.  The Daily Telegraph reports that one in 1000 people have blood clots every year, so that for 17 million people in vaccinated population with the Astra Zeneca vaccine there would be 17000 cases of blood clots over 12 months. During the clinical trials Astra Zeneca reported there were fewer people with blood clots who had been vaccinated than in the people who were not vaccinated. ...
The Times Original article ›
LyrArc Article Gist
A lack of rules for children growing up has affected an entire generation in U.S. and Europe and other countries. Sociologists say rules are essential for children to grow up and develop the skills for living and the lack of boundaries and rules has taken away this essential component for this younger generation today. Sociologists call this "infantilizing." It has also led to  people living in their own space and not carrying on the conversations essential for young people to develop into responsible persons.  Experts say this process of responding to the rules and learning are essential developmental process to go from childhood to adolescence and adolescence to becoming developed adults. This has been compromised over the last 25 years so that the socialization process that enables transmission of values from parents to children has not been taking place. An unwillingness to have moral based judgements and tell children what is good or right has added to the weakening of this process by which children learn and develop into mature responsible adults. ...
NYTimes.com Original article ›
LyrArc Article Gist
Economy Minister Habeck says- "Our energy system will be structured differently: we will have 80% renewable energies by 2030."  Germany will close its last 3 nuclear plants this week. Germany is shutting down all nuclear energy when other countries are increasing reliance on nuclear energy. Westinghouse is building Poland's first nuclear plant. Britain, France and Finland are increasing nuclear energy with its very low carbon emissions. Biden administration in the US is backing the building of a new generation of smaller nuclear reactors. Mr. Habeck the Economy minister says for the short term Germany has its natural gas storage tanks half full with the winter heating season over. New LNG terminals and imports help replace Russian supplies. In the long term Germany is way ahead in renewable energy than other countries and will craft its own solution in its own way.

The Times Original article ›
LyrArc Article Gist
Personal and institutional investing expert Jeremy Grantham has followed the market for several decades. Here he warns of an epic bubble particularly in technology related companies similar to 2000. The two stock market disasters in 2000 and 2009 hurt small investors. With the interest rates pushed down to near zero by central bankers, investors in the U.S. were faced with difficult choices of seeing no return on savings for a decade or investing more in the stock market. Collapsing stock markets lead to a loss of upward mobility in society as many families lose a portion of their savings. The significance of Mr. Grantham's call for caution is based on simple common sense when he says that electric car maker Tesla's stock price would mean over 1 million dollars for each car sold by Tesla, compared to $9000 for each car sold by General Motors. Traditional car makers and other manufacturers are being deliberately under priced on markets with the reverse for some tech companies. Major investment firms such as Morgan Stanley, large investment banks,  Grantham says are part of this system of overpricing, and are not going to say proceed with caution. ...
The Guardian Original article ›
LyrArc Article Gist
Kerala state of 35 million people who speak the language Malayalam, is one of the rare places today that has only 4 deaths from coronavirus, 524 cases confirmed and no community transmission. Here the Guardian looks at the reasons why. The Health minister KK Shailaja started very early on January 23, with a meeting of her rapid response team when the virus was still in China.  She setup a control room and instructed Kerala's 14 districts to do this on Jan. 24. When the first case arrived on Jan. 27 on a plane from Wuhan, Kerala had already adopted the WHO  protocol of test, trace, isolate and support. These passengers were checked for temperature, tested and quarantined. With some at a nearby hospital and others in home isolation. This is all the more amazing considering that Kerala is a state in southern India on the west coast that has a large number of people living and working overseas. Many are in the Gulf countries and the arrival of these refugees could have triggered a second outbreak. This was prevented by careful testing, and contact tracing of clusters.  When one group was evasive and concealed information from an airport surveillance team -arriving from Venice, Italy,  in late Feb- a case was detected back to them.  Contact tracers tracked down all of the hundreds whom they had been in contact with and quarantined them.  By 23 March all flights to 4 Kerala airports from overseas were stopped, including Cochin and Trivandrum. On March 25 India went into lockdown.  Some of the achievements in Kerala include quarantining 170,000 people early. with strict surveillance, which is now down to 21,000. Accomodating and feeding 150,000 migrant workers from other states, before returning them on charter trains to their home areas. A big reason for the success is the high literacy rate in the state. A big emphasis on education and healthcare is a part of the Kerala model. Shailaja is a secondary school teacher, and Health minister. From the days since independence of India in 1947 the state has a strong socialist tradition of taking care of the basics- health, education and public services. It also generates a part of its GDP with income from workers who are overseas.  Another reason for the success in dealing with coronavirus is experience. The state had a virus epidemic called Nipah in 2018 which has become the story for a movie called Virus in Malayalam. There is decentralized public health system in the state and people value their health care facilities, understand and trust the health care authorites. There are hospitals at every level of administration and 10 medical colleges. But trust and education, experience tackling the virus before, are key. Kerala is showing that poor countries can deal effectively with the virus, and create a better life by adopting the right model of creating good societies that value education, healthcare services, better economic structures and distribution of wealth, and  a degree of trust and responsibility found in a state that values public spiritedness. ...
New York Times Original article ›
LyrArc Article Gist
How Obama appealed to both sides, the religious and the secular in Turkey, choosing his words with care. For the secularists the emphasis on Turkey as "a strong and secular democracy" and not as moderate Muslim which has different connotations, and for the religious references to the Muslim world and the idea of mutual interest and mutual respect. Its hard to say but it may have created some sense of comfort on both sides and created asense that these two can coexist and should coexist peacefully in contrast to the tension in the past.
WSJ Original article ›
LyrArc Article Gist
AARP shows 29 million Americans working and taking care of older parents. Many work 40 hours a week and work an additional 20 hours helping elderly parents. About six out of ten people of this 29 million work full time. In 2024 a lot more people are living longer and older people prefer staying in their own homes and need help from family members. A simple fall or a cancer diagnosis can lead to long hospital stay, months of treatment, and worrying for family members. Company benefits in 2024 do not include senior or eldercare support or even accomodating employees caring for their parents. In America today federal and state laws do not protect people caring for elderly parents from discrimination in the workplace. Consider how this is affecting companies, as about one third who are caregivers say they are going to leave, and half of the employees leaving are senior manager and executives with much experience. This comes to about 5 million senior managers and executives that American industry can ill afford to lose as it competes with China, India and Europe. About half of all companies are making this a priority in 2024, according to Care.com. Citigroup added 2 weeks of paid leave to care for immediate family member. Companies allow employees to add older parents on their health insurance. These benefits are being added to maternity and paternity leave. The fact that Congress and state legislatures have failed to enact laws protecting caregivers is one more reason for the discontent and unrest in the US after the pandemic. ...
WSJ Original article ›
LyrArc Article Gist
This WSJ report shows how retirement looks in America from the financial and lifestyle aspects. The median net worth for people 65-74 years is about $266,000 compared to an average net worth of 5 times that of $1.2 million for this group. This means wealth is highly skewed in America today with a small percentage of high wealth group pushing the average up this much- a result of neglect of American manufacturing that sharply reduced income and savings security of working families, and the impact of laissez faire policies of the administrations since the 1970's with financial crises hurting workers and families. The impact of wars was also borne heavily by workers and families with the neglect of infrastructure and public services in a misallocation of the nation's wealth.  Other points of note are the way time is spent today in retirement with less educational activity or volunteer work than one would imagine, and not enough time for exercize. Only a miniscule amount of time goes to volunteer work (.17 hours) or reading (.57 hours) compared to watching television (4.50 hours) for retirees. Exercize that keeps people healthy one would expect it to go up in retirement only shows .29 hours. Arts and entertainment or cultural activities only 0.05 hours, people are lonelier spending less time with each other with 0.57 hours for socializing and communicating. All showing how Americans in retirement can do better and live better lives by increasing the amount of time they spend in these healthy activities and less on television. Television which is also a sedentary activity takes up 3 times all the other activities essential for healthy living just mentioned combined. Little or no time is spent in meditation, mindfulness or mental wellness, as this grouped under prayer shows only .07 hours or just a few minutes a day.  Small changes that are made in the right direction would do much good for the quality of living for all Americans. Combined with an effort for the renewal of infrastructure and public services this would be an effort in the right direction, contributing to the well being of America.   ...
WSJ Original article ›
LyrArc Article Gist
William Barr, Attorney general of the US 1991-1993 and again 2019-2020, says serious regulation to breakup the power and chokehold on communications of Big Tech should be the first priority of 2023. He says they have too much power and pose a threefold danger. First they have a chokehold over essential channels of communications and commerce, letting them be the gatekeepers to the digital world. Second they vacuum up a trove of personal information of users that permits manipulating user beliefs and behaviour. Third, they distort the "marketplace of ideas"  and as gatekeepers can pursue their own political and economic agendas. He cautions antitrust litigation is too slow and case by case approach is not the way. And too much time is misspent on proving misconduct, when that is not necessary, as regulatory intervention has been needed whether or not there is misconduct for a fair and good market system to work. He says new dangers are happening and it is time for Congress to stop being all talk and no action even as digital platforms are taking unfair advantage and endangering the fairness of the market system. ...
DW.COM Original article ›
LyrArc Article Gist
Greece's GDP will decline by 10% and unemployment go up from 16% to 26%, according to the IMF. Yet Greece is coming out of the crisis better having acted early in mid March 26 days after the first case on Feb 26 to impose a lockdown. The country had Day 50 with 2,192 cases and 102 deaths. Greece will reopen gradually on May 4.

Greece's long economic crisis actually helped as people realizing the weak condition of the public health system after cuts in spending, were keen on cooperating with government action. Some family members are elderly in every family and this also played a part with Greek culture placing importance on protecting the older members of society.

NYTimes.com Original article ›
LyrArc Article Gist
What the future can look like for a Ford Motor workers family, in which a husband and wife work long hours, 12 hours shifts with overtime, 7 days a week just to make ends meet. Dave and Bailey Hodge are shown here and tell their story to the NYT.

New York Times Original article ›
LyrArc Article Gist
Corporate concentration with larger companies, each more dominant in its industry, and fewer companies controlling half of U.S. corporate profits, are trends economists say that hurt wages, create income inequality, shrink the middle class and lead to less consumer welfare. About 30 companies control half of U.S. corporate profits in 2018 compared to 109 in 1975, according to economists at the University of Arizona. Fewer companies in each industry mean less competition for workers, and less leverage for workers in setting wages. Apple Computer just reached the trillion dollar size and Amazon is close to doing this with its dominance in online shopping. Amazon is known for lower wages in its industry. Apple has some of the highest profit margins in  industry, and trends show the margins have risen between cost of making a product and price in an unprecedented way. The result is higher corporate profits and labor commanding a declining share of the nation's wealth. ...
NYTimes.com Original article ›
LyrArc Article Gist
Claire Cain Miller is a Pulitzer Prize winner for public service. Here she writes about the results of the Pew Survey on Parenting. It shows that many of today's parents feel they had emotional needs which were not met and are trying harder to do this for their children, to show love and build relationships with their children. In open ended responses they say want to check in on the emotions of their children to see how they are.  About one third of mothers say parenting is a lot harder than expected. parents today worry about the mental health of their children, about anxiety and depression. Mothers also found competing pull from work and careers which made it a lot harder. During Covid many mothers simply focused on the children and gave up work to do this. Economic anxieties are also present for today's parents who see the financial independence of their children and finding careers they enjoy as more important than starting families of their own. ...
The Guardian Original article ›
LyrArc Article Gist
The best exercise routine is a consistent routine, says this health expert in The Guardian. Beware she says of sugary drink highs or coffee in excess to serve as pick ups during the day when energy is low. Instead do some short stretching or exercise routine even if it is only 10 minutes. It does not have to be a long or strenuous exercise, don't let the ads of young people doing strenuous routines fool you, says this expert. What is important is to keep doing it, to stretch and move around even if this is for a short time. Consistent routine is critical.

Carbohydrates, whole grain breads are not to be frowned on, she says, as this provides extra energy, and is healthy when balanced with protein and fat in the diet.

WSJ Original article ›
LyrArc Article Gist
President Biden is moving forward a plan to setup a maritime corridor from Cyprus to Gaza and a pier where commercial ships can drop off humnitarian aid and food. The trip would take 28 hours from Cyprus and would be able to get in 200 trucks of aid supplies each day. The Qataris and UAE will also help with this plan and Israelis will cooperate. On the diplomatic front both the European nations, Britain and the US are working together to get Israeli cooperation. British Foreign Secretary Cameron met Benny Gantz. Earlier Gantz met with Kamala Harris in Washington D.C. Gantz is part of the wartime cabinet in Israel. The US and EU, Britain all now have serious differences with Mr. Netanyahu on putting the humanitarian situation first and foremost considering the situation in Gaza.

NYTimes.com Original article ›
LyrArc Article Gist
What is the best way to reopen schools. This is being discussed in many European countries including Denmark and Germany. Cut class sizes by half. Have teachers take self adminstered tests. Hallways are one way. Stagger the breaks. Open up doors and windows for circulation- have students wear layers if needed. Students and teachers wear masks. Nothing is left purely to chance. Even with this the reproduction ratio is up to 1.13 in Germany - it must be kept close to 1.

Yet one nation of 85 million and others in Europe and Asia can show the way through a well planned and executed effort with lessons for all.

The Guardian Original article ›
LyrArc Article Gist
"No amount of misrepresentation or statistical contortion can conceal or blur or smear that record. Neither the attacks of unscrupulous enemies nor the exaggerations of over-zealous friends will serve to mislead the American people." FDR said this  on October 31, 1936, it could also be president Biden.The current Media and Hollywood efforts to choose presidential candidates of their choice runs contrary to "We the People," contrary to views of ordinary Americans, of voters, workers and families. President Kennedy was told he should not take the nomination because he was too young. Kennedys' response was that it was he not Humphrey that went to state after state and won the votes in the primaries, no one else made the effort to run in the primaries in each state. President Biden has the support of 14 million in the primaries. George Chidi from Atlanta reports that undecided voters number about 1 million in the swing states and most are much older than the average. Most may feel insulted by talk about age when they are in the same category.  A 102 years old Lockheed engineer in Atlanta suburbs says he is a Republican but will not vote for Trump. There is also the women's vote in Georgia and Atlanta suburbs with abortion ban as the issue as it was in Kentucky and Kansas. How many vote will also be a factor, making energizing the base a key factor. The idea that one party is doing better than the other is refuted clearly by some of the people in Georgia shown here, and the age factor does not get the prominence the Media have given it, as long as the government is functioning well. Media has failed to look at the policy details of each candidate in a colossal failure that calls for alternatives. Older voters who are the major part of the 1 million or so voters in swing states that are undecided also say that the fact is that with both the candidates- as it is with administrations that are led by young presidents seen as too young to lead (JFK) the opposite of today- many of the decisions are made with an experienced group of advisers around the president. Many if not all also realize that the vast experience of an older president is also an asset. Much of Biden's legislation for chips science, infrastructure, the Inflation Reduction Act have not happened in Germany, France or the UK, and would not have happened in the US without the ability of president Biden to get the bipartisan support from being the one with the most experience in Congress in a long time. The result is the hundreds of thousands of jobs created each month and a growing economy, inflation down from 9 to 3% as the first step to further cost of living action to support ordinary workers and families. Only LBJ comes close and he signed landmark legislation for Medicare and Medicaid, and for civil rights into law 60 years back. By removing America from the wars that Reagan and Bush started and Obama and Trump failed to end president Biden has given the US an opportunity to inspire and lead the free world in a way that has not happened in many decades and build a growing economy, a bright future for the Nation. ...
New York Times Original article ›
LyrArc Article Gist
The Portuguese government asked the European Union for bailout loans. The aid the EU is providing to Portugal comes with conditions- asking Portugal to make additional austerity cuts even as new elections loom. The aid is essentially more loans at high interest rates, even if the rates are lower than the steep rates in financial markets for a country with a collapsing credit rating. There is serious concern about whether this formula applied by the EU is going to work because at this rate it may take a decade or more for Portugal to pay off all the loans. The major problem is that with severe spending cuts- a country that lacks competitiveness and cannot devalue its currency because of being the euro zone- it is that much harder to generate growth. Simon Tilford, chief economist for the Center for European Reform in London, says the EU leaders have failed to come to grips with the core of the problem for Ireland, Greece and now Portugal- which is how to restore the finances to some sustainability, and how this could ever be achieved by a policy of deeper and deeper spending cuts. Tilford points out that the other more fundamental problem EU leaders are not tackling, is that the problem is deep down the large amount of Portuguese, Irish and Greek debt held by German, French, British, Spanish and Dutch banks. If these countries default the governments of these countries would have to recapitalize their banks at the expense of the taxpayers of Germany, France, Britain, Netherlands. Political leaders of these countries want to avoid confronting angry taxpayers and lose political support. Germany has called for a bondholder haircut, something that banking interests do not support. Tilford says Portugal is not getting a bailout, because for a bailout there would need to be a default by Portugal. What it is getting along with Ireland and Greece, are loans at high interest rates, and an EU plan that simply stifles the ability to pay back accumulated debt, leaving the situation in limbo for some future resolution....
BBC News Original article ›
LyrArc Article Gist
Under the DJT administration in contrast to the Biden approach US has improved relations with Russia, and is regularly sending envoys to Russia to ensure both sides are on good talking terms. 

Russia's Dmitry Peskov plays down rhetoric and calls US submarines "on duty anyway" and dismisses idea of escalation August 4, 2025. He says- "Very complex, very sensitive issues are being discussed, which, of course, many perceive very emotionally." 

"We are always happy to see Mr Witkoff in Moscow... We consider such contact important, meaningful and useful." Peskov says that Witkoff and Putin may meet.


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