Last night, the University’s Nanovic Institute of European Studies organized a panel at the Hesburgh Center Auditorium titled “The Greek Crisis and the Future of Europe,” which presented information about the economic crisis in Greece. The panel consisted of professor of economics Rüdiger Bachmann from Notre Dame, professor of political science George Tsebelis from Michigan, Dr. Christopher Waller, the senior vice president and doctor of research at the Federal Reserve Bank of St. Louis, and professor of comparative politics Jim McAdams from the Notre Dame.“What makes [the Greek financial crisis] so fascinating is that it’s multiple crises,” McAdams said. “It was a crisis for the Greek economy, it was a crisis for the Greek welfare system, it was a crisis for southern Europe in different ways … not just the Eurozone but also what Europe was since World War II.”Waller said Greece’s financial issues started long before the 2010s as Greece initially failed to meet all of monetary criteria needed to adopt the Euro, though they were allowed in the following year. What Waller said happened years later were investigations revealing large deficits in the Greek GDP which led to to tumultuous default and recovery.“Their unemployment went from 5 percent to 25 percent. Their GDP fell 25 percent,” he said. “If you’re not aware, that’s [similar figures to] the U.S. Great Depression. They started doing better on tax collections, cutting spending, laying off civil service workers — if I remember correctly about 50 percent of the labor force. … The economic conditions and the austerity were going to lead to social revolt.”Tsebelis said the revolt manifested in Greece’s near-adamant refusal to agree to the conditions of the bailout, which the European Union (EU) refuses to alter and Greece’s own parliament split on whether they should even stay with the EU. With elections coming soon and polling data unclear, Tsebelis said the political future of Greece seems very unclear.“So it’s going to be a very difficult outcome to predict,” he said. “What will these organizations produce after the elections? With respect to the euro now, the EU has not budged throughout the seven months of negotiations … and they continue to not give Greece money except on a conditional basis.“Another thing the Greeks don’t understand is the decision-making in the EU is through unanimity which means … it’s another 28 people you have to persuade,” Tsebelis said. “Even if they were able to make reasonable arguments — which the Greek government was not able to do — they could only persuade one, two or five.”Bachmann said there are better measures Greece could take than tax hikes and privatization and finding the best way to get Greece out of this crisis will take smarter policies with public investments. He said they could invest in growth, green energy and foreign investment tax credits.“We need to think differently, and I’m trying to advertise some sort of standard demand-side and standard supply-side policies.” Bachmann said. “ … I think we’ll need an intelligent mix between ‘carrots’ and ‘sticks.’ We need to find the right amount of micromanagement and that is hard.“This is a question for European democracies that I unfortunately don’t know the answer, and I hope we’ll get closer in this debate.”Tags: Greece, Nanovic Institute for European Studies
Jumbo and BBC Chartering, two marine heavy lift and transportation specialists, have agreed to an exclusive strategic co-operation; the “GLOBAL PROJECT ALLIANCE.”According to a joint statement, by joining forces this alliance offers “unrivalled project logistics solutions to EPC’s and project companies.”The objective, the statement further reads, is to improve the worldwide service which is offered by both brands while leveraging their respective complementary strengths and assets. By drawing on the joint capabilities of both companies, the alliance can provide a “best for project” solution by optimizing volume and super heavy lift cargoes for the project.“Jumbo and BBC Chartering make a great match, which one can truly call ‘the biggest and the best’. We look forward to forge this alliance and intensify our collaboration on commercial, operational and strategic levels,” says Svend Andersen, CEO of BBC Chartering.“Both of our companies are family owned, financially strong, and follow a long term strategy in the project shipping sector. As alliance partners we seek to fully utilize our potential arising from BBC Chartering’s market position as leader in the volume market for projects and from Jumbo’s market position as leader in super heavy lift projects” says Twan Voogt, CCO of Jumbo.Both parties say they are committed to providing the resources to explore all possibilities (if necessary supplementing their own fleets with unique additional Ro-Ro tonnage), to increase the value they can deliver to customers, including but not limited to, pre-and on-carriage, documentation and container consolidation when demanded by the project, the companies said.
The case of the prosthetic ear that was found recently on a Florida beach ends on a happy note.Officers with the Holmes Beach Police Department had been searching for the ear’s owner since last Saturday, when someone found the rubber ear in the sand along Manatee Beach. A “World’s Strongest Man” competition was taking place there at the time.Police posted photos on its Facebook page in hopes of finding the owner, with the question, “Have you lost an ear?”Their post went viral, with more than 1,800 shares.On Thursday, police found the owner and posted, “Thank you to all who shared the missing ear post!According to Holmes Beach Police Sergeant Brian Hall, a woman who was vacationing with her husband called and said the ear belongs to him. Apparently, the man was trying to place it in his pocket during a swim, when “a wave knocked it off his hand,” according to the wife.Hall says his staff is sending the ear back to the owner in South Carolina, adding, “We will put it in box. I hope nobody sees it and freaks out.”Are You Missing an Ear?
It was an assemblage of the best ping pongers from Lagos State at the 2013 yearly Asoju Oba Cup at the Molade Okoya Thomas Hall of the Teslim Balogun Stadium, Surulere, Lagos and the focus of the players was on the brand new Chevrolet car prize for the winner. At the end of a grilling completion, it was Olajide Omotayo that carted away the car prize.Since then, he has not looked back. At the World Junior Championship in Morocco in 2013, Omotayo was Nigeria’s standout player.Against all odds, the 25-year-old defeated his role model, idol and compatriot, Aruna Quadri to win the men’s singles gold at the 2019 African Games in Rabat and therefore breaks into the continent’s top five for the first time after reaching a career-high number 81 in the world rankings on the back of his run at the African Games. From the quarterfinal stage of the competition, Omotayo worked his way to the final, beating two former champions – Egypt’s Ahmed Saleh and Nigeria’s Segun Toriola in the quarterfinal and semifinal stages respectively before setting the stage for an epoch final against Quadri.An elated Omotayo said afterward: “I am very happy winning the African Games. I am so proud of myself because this is a big one for my career and it was a good journey for me from the start of this competition, having won against some of the best players in the continent.”When he made his first international appearance for Nigeria as a cadet at the 2008 International Table Tennis Federation (ITTF) African Junior and Cadet Championships in Alexandria, Egypt, little did the youngster knew he was embarking on a journey of no return and more than 10 years after his baptism in Egypt, Omotayo has established himself as an integral member of Nigeria’s senior team to several international tournaments.While his peers all tilted to the direction of football, which was the most popular past time sports for children in Somolu, a suburb of Lagos State, Omotoyo’s love for table tennis could not be compromised. “I also love football but my love for table tennis was far greater and beyond my father’s imagination. It was after my father noticed my interest in the sport and he began to tell me about his exploits in it. Unfortunately, his personal racket was inherited by my sister who started the sport before me,” he recalled.With the interest being fired up by his family, the young Omotayo was also looking up to the exploit of former national junior champion – Lanre Jegede who later introduced him to his first coach.“I was also looking up to Lanre Jegede who was then the national junior champion ad he was living in Somolu too and he took me to Coach Ismail Surmer. It was the support that I got from Jegede and my coach that really motivated me to continue the sport.“Later Jegede moved abroad and whenever he comes to Nigeria, he would devote time to teach me new things in the sport and provide equipment for me as well. At this point, he has made the national team and he was also playing professionally in France. So I could say that Jegede really supported me as a young player,” he added.The 2018 Commonwealth Games in Gold Coast, Australia; as well as the scintillating outing at the African Championship in Mauritius remains the turning point of Omotayo’s career.“The 2018 Commonwealth Games was one of the greatest experiences for me. It was a cherished silver medal for Nigeria and the most amazing part is that I was actually part of the team and I made an impact. I also got to play alongside Quadri and even played doubles with Toriola.“Also the 2018 African Championship in Mauritius became my best performance so far because a month before the competition, I lost against an Egyptian in front of home fans at Nigeria Open and I felt so bad about it but with the help of my teammates I was able to get back on my feet and look,” he recalled.Now ranked in the top 100 in the world, his dream is to make it to the top 50.“My biggest dream is to get to the top 50 in the world and win African championships as well as African Top 16 Cup. I also want to qualify for the Olympic Games,” the Italy-based ping ponger said.He, however, admitted that the feat achieved by his compatriot –Quadri has been the motivating factor for him.“Aruna Quadri’s feat has been a great motivation to me, so-much-so that sometimes before I sleep I watch some of his matches. Globally, he has placed Nigeria on the world map and I wish that I follow his footstep,” he noted.With the way he is going, the question is not whether he could make it to the world’s top 50, but how soon.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram