Financing needs for Greece could add up to over $55.42 billion (50 billion euros) over the period from October 2015 to end 2018 in order to keep the country afloat, the International Monetary Fund (IMF) said in a staff report.
The IMF’s warning on Thursday came before Greece’s upcoming referendum on July 5. Although the Greek government stressed the referendum was on its creditors’ offer for a reforms-for-cash debt deal, skepticism and strong reactions that the referendum could lead to Grexit was also widespread in Greece.
The report said Greece is unlikely to close its financing gaps from the markets on terms consistent with debt sustainability.
It slashed Greece’s economic growth forecast in 2015 to zero percent, compared to a growth of 0.8 percent in 2014.
The estimate of the additional 50 billion euros in funding, including 36 billion euros from EU lenders, was based on the assumption that existing support from the EU and IMF would continue through this summer.
The report was prepared before the Greek authorities have closed the banking sector, imposed capital controls, and incurred arrears to the IMF and did not reflect these developments, which the IMF believe are likely to have a significant adverse economic and financial impact.
In May 2010, the IMF approved 30 billion euros in financial assistance for Greece under a Stand-By arrangement, and then in March 2012, the lender approved 28 billion euros for Greece under an extended arrangement to support its economic reform program.
To date, Greece has 21.2 billion euros in outstanding obligations to the IMF. A repayment of about 1.5 billion euros was due to the IMF on June 30. Greece did not make the repayment when due and is now in arrears to the Washington-based lender, which makes Greece the first advanced economy default on IMF debt. (IANS)
A National statistics agency, SCB showed 277 more men than women in 2015
European Union population statistics suggests women will remain in the majority in most European countries for decades to come
Despite a natural birth rate of about 105 boys born for every 100 girls, European women have historically outnumbered men because they live longer
STOCKHOLM- The natural sex ratio at birth, as presented by World Health Organization, WHO, is 105 boys for every 100 girls. However, predominantly, in the West, women have always been more numerous than men because they live longer. Hence, it came as a surprise in Sweden, when, in March last year, the census highlighted the fact that there were 277 more men than women.
What’s more, the number has since then grown to a massive 12000, which is still not very big compared to 9.7 million, which is the current population of Sweden, but definitely perplexing. Many demographic analysts and population experts, like Tomas Johansson and Frencesco Billari, confess they were not expecting this event to occur so soon.
There is currently an excess of 12 million women in the European Union, which has a population of approximately 500 million as a whole. Eurostat spokeswoman Baiba Grandovska believes, however, that this gap between the number of men and women is likely to narrow in the coming years, “mainly because of the decreasing gap in life expectancy.” This comes as a result of an overall change in the lifestyle of men as compared to their fathers.
Increasing awareness of heart diseases, adverse effects of smoking and drinking and more sophisticated medical equipment has encouraged them to modify the way they live. Wealthier countries now offer safer desk jobs as compared to working in mines and the construction business.
In Sweden, particularly, the numbers are going a little crazy. There was an unusual increase in the sex ratio to 108 boys for every 100 girls born in the year of 2014. Beating that increase, the sex ratio is now an absurd 123 boys for every 100 girls among 16-17 year olds, which beats even the sex imbalance in China and India.
Valerie Hudson of Texas A&M University, who released these numbers, attributes this sudden rise in the sex ratio to the sudden wave of refugees, mostly adolescent boys, from Afghanistan, Syria and North Africa that have run away from their war-stricken homes to seek asylum in Sweden. BBC reports that Sweden has received more asylum applications than any other country in Europe -163,000 just last year.
The Scandinavian country also houses immigrant-friendly laws; any underage refugee receives stable housing and financial resources. News like this travels fast and many young men often lie about their age to avail of these services, a matter that has now become a pressing concern. The authorities are debating the application of age determination tests for better screening of underage individuals; however, this is still a sensitive topic in the Nordic country.
Adding to the appealing benefits of being an underage refugee in this country, they also enjoy the right to family reunification, through which the entire family can be brought to Sweden. Experts believe this right may work in favor of improving the sex ratio, as an invitation for the entire family into Sweden may mean that sisters and mothers arrive in Sweden, driving up the number of females.
Security forces of Sweden fear that the country may not be prepared to adjust to the masculine nature of its society. There is an expected increase in the number of crime against women, somewhat following in the footsteps of India and China. Unsatisfied male bachelors, who may not find spouses in time, have a possibility of propagating harassment cases against women, and that is a scary prospect.
Annick Wibben, of the University of San Francisco dismisses this trail of thought, claiming that the concept of gender equality is so deeply embedded in the Swedish society, that it does not make sense to compare with Indian and Chinese populations. “The way in which masculinity works in different societies needs to be taken into account”, she said.
-by Saurabh Bodas
Saurabh is pursuing his engineering and is an intern at NewsGram.
A city commonly referred to as ancient Greece of India has a long history on its part. Let us explore by merging Greece of Europe and Greece of Asia as Aasish Chandorkar elucidates the tale of two cities in a recent article published in Swarajya magazine. Here is the summary of his point of view:
Right from the birth of Thales of Miletus in 620 BCE to the death of Aristotle in 322 BCE, Greece saw a paradigm shift in its ideology, varying from mythology to science, myths to facts and reasoning based thought process. The work of various modern minds of Greece eventually led to the establishment of modern city state of Athens and paved a way for Greece to become a nation that could conquer the world.
In the similar context, Pune also lived the idea of thought processing. The outcomes resulted into political awakening, creation of institutions for lasting social change and impelling great minds to initiate a mutiny against the British rule.
The foursome of Mahadev Govind Ranade, Lokmanya Bal Gangadhar Tilak, Dhondo Keshav Karve and Gopal Krishna Gokhale did exemplary jobs over the mission. When Ranade shifted to Pune in 1873 ,at the designation of a Magistrate, their ideas came together to impinge upon a political and social awakening. It included thoughts to awaken nationalism, surge the freedom movement and bring about a social renaissance in the nation. Pune lost this momentum with the death of Tilak in 1920. The time between 1873 and 1920 was the “Golden Philosophical Age” of Pune which was tried to be rejuvenated by Maharishi Karve later on.
Pune was also seen as the potential contender of being the capital of India after British sought a move to change the capital from Kolkata to anywhere else. Pune still resumes the legacy left behind by conglomerate of social reformers and thinkers who left behind a galaxy of ideas and theories. The ideology of Pune is still thriving and growing. Very few Indians are aware of the fact that many of the social and liberal thoughts are accredited to this city and its Golden philosophical age. It is still a hub of world class educational institutions and is still a home to writers who aspire to bring about a change.
Shruti Pandey is a third year engineering student at HBTI, Kanpur and aspires to bring a change through words. Twitter handle: srt_kaka