Tag Archives: culture

A Thought on Cypress and the Euro

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After having offered his church’s assets to a solidarity fund proposed by Cyprus’ government pursuant to Cyprus’ efforts to find a way out of their current economic debacle, Archbishop Chrysostomos II, Archbishop of Nova Justiniana and All Cyprus (the Greek Orthodox Church in Cyprus), has one.  The Guardian quotes him:

The euro cannot last.  I’m not saying that it will crumble tomorrow, but with the brains that they have in Brussels, it is certain that it will not last in the long term, and the best is to think about how to escape it.  It’s not easy, but we should devote as much time to this as was spent on entering the eurozone.

The Orthodox church is the island’s biggest landowner, and it has serious investments in a broad range of endeavors—from hotels and construction to a brewery, to a majority stake in Cyprus’ third largest bank, Hellenic Bank (right behind Laiki Bank (Popular Bank) and the Bank of Cyprus, the former of which would be seized by the government and reorganized under a version of Plan B, and the latter of which is just as insolvent and needs reorganization).  Chrysostomos’ opinions are worth listening to far beyond his position as Cyprus’ moral leader.

I agree with the Archbishop.  It’s a bad fit, Cyprus and the European Union, Cyprus and the euro zone, as has been written elsewhere.

The badness of fit has now been demonstrated, by a midnight deal between the eurozone Finance Ministers and Cyprus President Nicos Anastasiades.  The deal, according to Spiegel Online International:

…focused on the island’s two insolvent major banks.  It will wind down the largely state-owned Popular Bank of Cyprus, also known as Laiki, and shift deposits below €100,000 [$130,000] to the Bank of Cyprus.

Deposits above €100,000 euros in both banks, which are not guaranteed under EU law, will be frozen and used to resolve Laiki’s debts and to recapitalise Bank of Cyprus through a deposit/equity conversion.

[Euro Group (the finance ministers of the eurozone acting together) President Jeroen] Dijsselbloem says that

[t]he raid [that’s exactly the right word] on uninsured Laiki depositors is expected to raise €4.2 billion [$5.5 billion].

There’s more extortion and theft to come.  The takings inflicted on large depositors—those holding deposits greater than €100,000—will be determined at a later date by the Cypriot government and the troika.  Those €4.2 billion represent the target for recapitalization and bank debt resolution; the “tax” on those deposits required to achieve the target has yet to be determined.

And, because this setup is being handled as a bank restructuring and Cyprus’ Parliament had already passed a bank restructuring law that allows it during a panicky weekend session prior to this…arrangement, the Parliament cannot now block it, as it did the original raid.

It’ll be interesting to see where the Russians put their money in the aftermath of this.  It’ll be interesting to see where any large depositor, or any other depositor with the capacity (which includes most middle class folks and small/medium businesses) puts his money, now that Cyprus has been banished from the international financial center business.  The little man—those with the small deposits—have no choice.

It’ll also be interesting to see who in the rest of the eurozone or the broader EU profits from this.

SOI suggests that in the end, Anastasiades had no option but to accept to these terms.  This, though, is to misunderstand what has happened and to misunderstand the immorality of it.  This is just government theft of private money from folks—depositors—who had nothing to do with the decisions of the bankers and government functionaries that put Cyprus in this box in the first place.

Anastasiades indeed had a choice.  He could have accepted bankruptcy and the (painful) recovery of a Cyprus then free of EU and eurozone restrictions on Cypriot sovereignty.  And free of exposure of his country’s banking system to international distrust from fear that the next time it becomes convenient to government, the next batch of deposits will be similarly confiscated.  The banks in the rest of the eurozone, if not of the EU at large, must face this distrust today, especially since the original demand by the Euro Group was to confiscate significant portions of the little man’s deposits, also.

Cyprus needs to listen to the Archbishop.

Bias

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The lesson in a Florida Atlantic University class involved the professor instructing his students to write Jesus’ name on a piece of paper, put the paper on the floor, and then stomp on it.  A student refused to do the stomping,

I said to the professor, ‘With all due respect to your authority as a professor, I do not believe what you told us to do was appropriate.  ‘I believe it was unprofessional and I was deeply offended by what you told me to do.’

The student also went to the professor’s boss, who then suspended the student for refusing to comply with the professor’s instruction.

The lesson itself reasonable; here’s the lesson syllabus:

Have the students write the name JESUS in big letters on a piece of paper.  Ask the students to stand up and put the paper on the floor in front of them with the name facing up.  Ask the students to think about it for a moment.  After a brief period of silence instruct them to step on the paper.  Most will hesitate.  Ask why they can’t step on the paper.  Discuss the importance of symbols in culture.

The instructions in the syllabus are intended to build a feeling about the action in the student so the student can reflect on it—at no point did the syllabus expect the student actually to carry out any step of the lesson.

It’s clear from the description of the incident (and for this post, I’ll assume the description to be accurate) that FAU reacted wrongly in a number of ways: it overreacted to the student’s protest, and the reaction it had was in the wrong direction.  Suspension was both too much (no opprobrium of any sort was appropriate), and if the school were to react in any way, it needed to act on the professor’s handling of the lesson.

The other error that FAU made was that its reaction violated the clear intent of the syllabus—to make the students think about an action, not to force the student to do that act.

Paul Kengor, Executive Director of the Center for Vision and Values at Grove City College in Grove City PA:

Gee, I wonder if the instructor would dare do this with the name of Mohammed[.]

Indeed.  And so there’s a third error by FAU: Mohammed, Buddha, Brahma, and so on, should have been subjects of this lesson, also.  The broad range of reactions to a suggestion to desecrate these deities would have added immensely to the lesson’s outcome.

In the end, FAU “apologized” for the lesson.  The university also said the lesson will never again be used.

We sincerely apologize for any offense this has caused.  Florida Atlantic University respects all religions and welcomes people of all faiths, backgrounds and beliefs.

Not “our offense.”  A cynically amorphous “any” offense.  And apparently not a word of apology to the student for the university’s treatment of him for his objection.

Freedom and Morality

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Senator Jeff Sessions (R, AL) had a few words to say on this [emphasis added].

The Department of Agriculture proudly declares: “Each $5 in new [food stamp] benefits generates almost twice that amount in economic activity for the community.”  Our government is running food stamp promotions at foreign embassies.  One worker was given an award for overcoming “mountain pride” and getting more people to sign up.  Where I grew up in Alabama, all honest work, even the hardest, was honored.  And pride, self-respect, and a desire to be independent was valued, not a thing to be overcome.

And

People are being hurt every day by the Washington establishment the Democrats are determined to shield from accountability.  Government has never been bigger or more out of control.  They say there is no problem with waste, fraud, and abuse; they say the problem is you; they say you are not sending them enough money; they say they have wisely spent every penny.  So, you must just send them more.  And, if you don’t?  Well, they won’t stop spending, they’ll just borrow more.

Here is Sessions’ suggestion for an economically effective and morally sound budget outline:

Instead, we must act to create more jobs and better pay.  And we can do it without adding to the debt.  Here’s how:

  • Make welfare temporary and the welfare office an employment and job training office.

  • Unlock America’s vast energy resources to create millions of good-paying jobs.

  • Defend American workers from unfair foreign trade practices.

  • Reform the tax code to make America globally competitive, creating more jobs here.

  • Make government leaner, less wasteful so it produces greater results for the money you earned and sent here.

  • Enforce an immigration policy that protects legal US workers from unlawful competition.

  • Eliminate every burdensome federal rule or regulation that isn’t needed and that destroys jobs.

  • And, finally, we must balance the federal budget.

These are steps that reduce government, they allow Americans to regain responsibility for our own actions, regain our ability to work toward our own goals, and these steps leave more of our hard-earned money in our hands.  All of this enhances our—and our country’s—freedom and morality.

We saw with Wednesday’s Senate budget proposal the Democrats’…freedom and morality.

More Racism

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The Wall Street Journal reported Wednesday that the New York City Districting Commission has resubmitted its redistricting plan for the 51 New York council districts following the 2010 census.

According to a news release, the plan creates 35 so-called minority districts in which “protected racial and language-minority groups” represent an overall majority of the total population of these districts.  By comparison, the 2003 districting plan had 30 such districts.

This is blatantly racist.  The Constitution—and the New York State constitution is no different in this regard—specifies one man, one vote.  From the 14th Amendment of the Federal Constitution:

Representatives shall be apportioned among the several States according to their respective numbers, counting the whole number of persons in each State….

From Article II, Section 1, of the New York State constitution:

Every citizen shall be entitled to vote at every election for all officers elected by the people and upon all questions submitted to the vote of the people provided that such citizen is eighteen years of age or over and shall have been a resident of this state, and of the county, city, or village for thirty days next preceding an election.

There’s nothing in here that differentiates one American, or one New Yorker, from another.  We’re all Americans; in the present case we’re all New Yorkers.  Neither constitution admits of giving special voting privileges to some Americans over others, neither constitution contemplates the racism of “protected racial” or “protected language-minority”…groups.

Both constitutions—quite properly—insist that a man’s ability to vote is based not on the color of his skin or the thickness of his accent but on the status of his citizenship.

It’s time to stop racist gerrymandering.  All of us look alike in the eyes of God, before the law, and in our right to vote.

It’s Onerous to Become a Citizen?

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Dan Siciliano, a Stanford Law School professor, thinks so.

People think it’s automatic, short and easy.  [In reality] the pathway to citizenship is onerous.

Here are the requirements for becoming a citizen:

  • the immigrants must a $680 fee
  • pass an oral exam
  • present five years’ worth of tax returns
  • submit to a background check for things such as criminal convictions.
  • pass an interview with an immigration officer who tests their ability to speak, read and write English

Yeah, that’s onerous.  The fee serves as a (light) screen against the indigent.  Current immigration law makes it illegal to allow in those who will be burdens on our society, who can’t earn a living.  The five years of having paid income taxes provides current, empirical evidence of the immigrant’s ability to earn his own way and to contribute to his new community.

Any nation has the right to keep out other nations’ criminals—that’s what the background check does.

It’s a hard concept, but English is the language of the United States.  Not Spanish, or French, or Arabic, or Farsi, or….  Businesses are foolish to stand on ceremony and demand their customers speak only English.  But the preservation of American society and culture—that which made us a great nation—demands that political speech be done in English.