After the war ended in 1945, Germany’s debt amounted to over 200% of its GDP. Ten years later, little of that remained: public debt was less than 20% of GDP. Around the same time, France managed a similarly artful turnaround. We never would have managed this unbelievably fast reduction in debt through the fiscal discipline that we today recommend to Greece. Instead, both of our states employed the second method with the three components that I mentioned, including debt relief. Think about the London Debt Agreement of 1953, where 60% of German foreign debt was cancelled and its internal debts were restructured.
All posts by nedhamson
Sinai’s Violence: A Timeline ( 2004 – 2015)
Endless struggle?
Following the recent terror attacks in Sinai, some tried to portray the violence as an armed insurgency in response to July 3 coup against Morsi. Sinai militancy, however, has been ongoing before Morsi, continued during his tenure, and after his ousting. Here is a summery of main events since 2004.
(photo via Reuters)
During Mubarak
2004
- Bomb blasts at Egyptian resorts in South Sinai, in which at least 28 people died.
2005
- At least 88 people have been killed in bomb attacks in the Egyptian resort of Sharm al-Sheikh
2006
- At least 23 people – including three foreigners – have been killed and 62 wounded in three blasts in the Egyptian resort town of Dahab
2010
- Rocket attacks on Israel’s Eilat and Jordan’s Aqaba fired from Egypt’s Sinai
2011
- Egyptian pipeline supplying gas to Israel near the Gaza Strip amid raging protests against Mubarak
After the revolution/ before…
View original post 624 more words
afp-photo: GREECE, Thessaloníki : An elderly man is crying…
GREECE, Thessaloníki : An elderly man is crying outside a national bank
branch as pensioners queue to get their pensions, with a limit of 120
euros, in Thessaloniki on 3 July, 2015. Greece is almost evenly split
over a crucial weekend referendum that could decide its financial fate,
with a ‘Yes’ result possibly ahead by a whisker, the latest survey
Friday showed. Prime Minister Alexis Tsipras’s government is asking
Greece’s voters to vote ‘No’ to a technically phrased question asking if
they are willing to accept more tough austerity conditions from
international creditors in exchange for bailout funds. AFP PHOTO /Sakis
Mitrolidis
Dementia patients forced to rely on unpaid carers, poll says
<img title=”Stephen Blakeburn, 50, who cares for his mother, Jenny, 86, who was diagnosed with dementia in 2010.” src=”http://i.guim.co.uk/img/media/0e96c39030bc7dfdf7212ba37e3a5984354816b2/0_247_4252_2553/master/4252.jpg?w=300
via Dementia patients forced to rely on unpaid carers, poll says.
▶ 1978-04-22 ✡ One Love Peace Concert (Heartland Reggae) ✡ The National Stadium, Kingston, Jamaica – YouTube
▶ Roy Buchanan – P.B.S. Greatest Unknown Guitarist in the World 1971 [PART 1] – YouTube
▶ Dale Hawkins – Susie Q (Original Remastered) – YouTube
▶ CREEDENCE CLEARWATER REVIVAL : SUZIE Q Full Length HQ – YouTube
Chile win first Copa America in stunning victory over Argentina

Chile defeated Argentina on penalties to win their first Copa America. Argentina’s defeat marked star footballer Lionel Messi’s second loss in a major international final, following last year’s World Cup.
via Chile win first Copa America in stunning victory over Argentina.
“Roundhay Garden Scene” – The Oldest Known Video/ Footage to Exist, 1888
“Roundhay Garden Scene” was recorded in 1888, and is believed to be the oldest known video to exist.

You must be logged in to post a comment.