Day: March 12, 2018

Eurozone to Unlock New Loans to Greece, Working on Debt Relief

Eurozone creditors are expected to disburse new loans to Greece this month and are working on debt relief measures, the head of the bloc’s finance ministers said on Monday, steps that should help underpin its economic recovery.

Greece’s 86-billion-euro bailout program, its third since 2010, is due to end in August and international lenders are debating how to ensure the country makes its exit on a sustainable footing.

Among options under consideration in Brussels are support measures that could run into tens of billions of euros and help ease servicing costs on a public debt pile that, in terms of economic output, is among the biggest in the world.

Greece’s economy expanded by 1.6 percent last year after emerging from a long recession. The European Commission forecast growth of 2.5 percent this year and next, but that rate could slow if reforms stall after strict monitoring by the lenders ceases.

The eurozone bailout fund is expected to pay out a 5.7 billion euro loan later in March, Eurogroup head Mario Centeno told a news conference following the finance ministers’ monthly meeting, after Greece met commitments under the third review of its rescue program.

To successfully exit the program, a fourth review of 88 reform actions must be completed before August. This would allow Greece to access other loans.

“I am confident Greece will implement all remaining deliverables to conclude the program successfully,” Centeno said.

They include new privatizations and reform of the gas and electricity markets, which he said were preconditions to granting Greece new debt relief.

Debt relief

Technical talks are already ongoing on one of the possible measures that would grant Greece additional debt relief after it benefited from extensions of its debt maturities and other short-term aid in past years.

Centeno said that work was under way on linking future eurozone debt relief to the rate of Greek economic growth, with the objective of granting support if growth slowed.

Other more substantial measures will be discussed at the next meeting of finance ministers next month, Centeno said.

Among possible measures are the use of funds that will remain unused after the bailout program ends on August 20.

This could be as mush as 27 billion euros, and could be used to buy out Greek debt falling due in the next five years and replace it with cheaper and longer-term loans from the eurozone bailout fund, the European Stability Mechanism (ESM).

Another option could involve the return of profits made by the European Central Bank on Greek bonds.

Both measures would come with conditions attached, mostly linked to the implementation of reforms already approved but that would take years to fully execute.

The debate on conditionality is still wide open. Greece could ask for a new credit line after its aid programme ends, but this is likely to be seen in the country as a new wave of austerity, triggering a political backlash.

Alternatives could entail enhanced supervision by EU institutions over Greek reforms after the bailout ends.

Without a financial safety net Greece could face market pressure that would increase debt servicing costs.

Greece is also building a cash buffer, which could reach 20 billion euros, to bolster a full return to debt markets and support sustainable growth.

more

US Barbershop Study Trimmed Black Men’s Hair and Blood Pressure

Trim your hair, your beard, your blood pressure? Black men reduced one of their biggest medical risks through a novel project that shows the power of familiar faces and trusted places to improve health.

The project had pharmacists work with dozens of Los Angeles barbershops to test and treat clients. The results, reported Monday at a cardiology conference, have doctors planning to expand the project to more cities nationwide.

“There’s open communication in a barbershop. There’s a relationship, a trust,” said Eric Muhammad, owner of A New You Barbershop, one of the barbers who participated. “We have a lot more influence than just the doctor walking in the door.”  

Black men have high rates of high blood pressure — a top reading over 130 or a bottom one over 80 — and the problems it can cause, such as strokes and heart attacks. Only half of Americans with high pressure have it under control; many don’t even know they have the condition.

Churches, beauty salons and other community spots have been used to reach groups that often lack access to doctors, to promote cancer screenings and other services. Dr. Ronald Victor, a cardiologist at Cedars-Sinai Medical Center, wanted to reach black men.

“Barbershops are a uniquely popular meeting place for African-American men,” and many have gone every other week to the same barber for many years, he said. “It almost has a social club feel to it, a delightful, friendly environment” that makes it ideal for improving health.

Victor did a study in 17 Dallas barbershops a few years ago. In that one, barbers tested patrons and referred them to doctors. Improvements were modest.

In the new study, “we added a pharmacist into the mix” so medicines could be prescribed on the spot, he said.

‘A home run’

The new work involved 303 men and 52 barbershops. One group of customers just got pamphlets and blood pressure tips while they were getting haircuts. Another group met with pharmacists in the barbershops and could get treatment if their blood pressure was high.

At the start of the study, their top pressure number averaged 154. After six months, it fell by 9 points for customers just given advice and by 27 points for those who saw pharmacists.

Nearly two-thirds of the men who saw pharmacists lowered their pressure to under 130 over 80 — the threshold for high blood pressure under new guidelines adopted last fall. Only 12 percent of the men who just got advice dropped to that level.

“This is a home run … high-touch medicine,” said one independent expert, Eileen Handberg, a heart researcher at the University of Florida in Gainesville. Most drug trials only dream about such good results, yet they were achieved in a regular community setting, she said.

Nineteen of Muhammad’s customers finished the program, and “all their blood pressures were down, every single one of them,” he said.

Marc Sims, a 43-year-old records clerk at a law firm, is one. He didn’t know he had high pressure — 175 over 125 — and the pharmacist said he was at risk of having a stroke.

“It woke me up,” said Sims, who has a young son. “All I could think about was me having a stroke and not being here for him. It was time to get my health right.”

Medicines lowered his pressure to 125 over 95.

Healthier lifestyles

Treatment doesn’t always mean medicines; healthier lifestyles can do a lot. Poor diets, lack of exercise and other bad habits cause most high blood pressure.

The National Institutes of Health paid for the study. Results were discussed at an American College of Cardiology conference in Orlando and published by the New England Journal of Medicine. 

The cost of doing this isn’t really known. Victor now aims to do a study of 3,000 men in many cities around the country that will include a look at that. He also hopes to tackle high cholesterol with a similar approach.

The results show that “you don’t need cardiologists” to improve things, said Dr. Willie Lawrence, an American Heart Association spokesman and blood pressure specialist in Kansas City, Missouri. “We can partner with others in the community and get this epidemic under control.”

more

Business Lobby: Mexico Front-Runner Must Respect Oil, Airport Contracts

Mexico’s powerful CCE business lobby on Monday urged the leftist front-runner for a July 1 presidential election to stop questioning major planks of the government’s economic agenda lest it damage investment.

Andres Manuel Lopez Obrador, who has led opinion polls by a wide margin for weeks, has gradually moderated his rhetoric and his leading advisers have sought to reassure investors that he will not be an economic liability as president.

However, his threats to scrap a new Mexico City airport already under construction and review oil and gas exploration and production contracts issued under a 2013-14 energy reform still worry some investors.

“As we’ve said, you can’t ask the private sector to take part in building a better country at the same time as undermining certainty and the rule of law as conditions for fostering investment,” Juan Pablo Castanon, president of the powerful CCE lobby, an umbrella group for business groups, said at an event in Mexico City.

“For this reason, we businessfolk demand guarantees that the contracts awarded under the energy reform and for the new airport will be respected,” he added. “In a country governed by the rule of law, contracts are honored, and cannot be subject to the will or interpretation of a sitting government.”

Lopez Obrador’s top energy adviser has said that while publicly available versions of the energy contracts appear to be without problems, further investigation was needed to ensure corruption had not tainted the awarding process.

The business community was also worried there were candidates and campaign teams already casting doubt on the validity of the election “depending on who the winner is,” Castanon said, without mentioning Lopez Obrador or his MORENA party.

Castanon’s comments follow a high-profile speech by Lopez Obrador at a banking convention last week, in which he stuck to promises to not build a new airport at the current construction site and warned there could be protests if he lost by fraud.

The former mayor of Mexico City, who was runner-up in the previous two elections, organized massive protests in the capital when he was narrowly beaten for the presidency in 2006.

Two polls published last week showed him with a lead of more than 13 percentage points over his nearest rival.

more

World Wide Web Inventor Says Big Tech Must Be Regulated

The inventor of the worldwide web, Tim Berners-Lee, called on Monday for powerful internet platforms and social media companies to be regulated to prevent the internet from being “weaponized at scale.”

The British computer scientist, in an open letter published on the 29th anniversary of the creation of the web, said a “new set of gatekeepers” was now dominant, controlling the spread of ideas and opinions.

“The fact that power is concentrated among so few companies has made it possible to weaponize the web at scale,” he wrote.

“In recent years, we’ve seen conspiracy theories trend on social media platforms, fake Twitter and Facebook accounts stoke social tensions, external actors interfere in elections and criminals steal troves of personal data.”

The intervention by the 62-year-old MIT professor comes as some European governments turn to legislation to curb “fake” news and hate speech that they fear is undermining the basis of their democracies.

In Germany, a law entered force on January 1 that foresees fines of up to 50 million euros ($62 million) on internet platforms that fail to remove hate speech — which is illegal — within 24 hours.

French President Emmanuel Macron meanwhile plans legislation that would empower judges to order the removal of fake news during election campaigns.

And in Brussels, the European Commission has served notice to internet platforms that they must find a way to remove extremist content within one hour of being notified, or face legislation compelling them to do so.

Berners-Lee, whose Web Foundation campaigns for a more open and inclusive internet, doubted that companies that have been built to maximize profits can adequately address the problem on a voluntary basis.

“A legal or regulatory framework that accounts for social objectives may help ease those problems,” he said.

Expressing concern over how big internet platforms handle users’ data in targeting advertising, Berners-Lee said a balance needed to be found between the interests of companies and online citizens.

“This means thinking about how we align the incentives of the tech sector with those of users and society at large, and consulting a diverse cross-section of society in the process.”

more

Jay-Z, Beyonce Announce New Joint Tour

Music’s first couple Beyonce and Jay-Z on Monday announced a new joint tour in what will likely mark some of the year’s most lucrative concerts.

The rapper and diva, who in June gave birth to twins, will open the stadium tour on June 6 in the Welsh city of Cardiff.

The 36-date show will travel across Europe, including a Bastille Day show at the Stade de France in Paris, before a North American leg that closes on October 2 in Vancouver.

Beyonce announced the tour in a series of posts to her 112 million Instagram followers, including a black-and-white photo in which the couple poses sensually astride a motorcycle, an Old West-style bull’s skull on the front.

She also posted a half-minute video of slow-motion footage of the two superstars, the reggae classic “I’m Still in Love With You” playing.

Jay-Z and Beyonce dubbed the tour “OTR II,” a reference to their first co-headlining “On the Run” tour in 2014 which grossed some $100 million.

Beyonce is set to return to the stage in April to headline Coachella, the biggest-name US music festival, in her first performance since giving birth to the couple’s second and third children.

For Jay-Z, the tour follows solo concerts to promote “4:44,” his introspective last album in which he notably apologizes to Beyonce for infidelity.

 

more

Malala Yousafzai Working on Book About Refugees

The next book from Nobel winner Malala Yousafzai is a story of refugees.

 

Little, Brown Books for Young Readers told The Associated Press on Monday that Yousafzai’s “We Are Displaced” will come out Sept. 4. The book will combine her own experiences with accounts she has heard while visiting refugee camps. The 20-year-old Pakistani activist for female education said in a statement that she hoped to show “the humanity behind the statistics.”

 

In 2014, she became the youngest Nobel Peace Prize winner ever when given the award at age 17. Yousafzai also is known for her best-selling memoir, “I Am Malala.”

more

Russia Picks Deaf Museum Cat as World Cup Oracle

Russia on Monday named a deaf white cat who lives in Saint Petersburg’s historic Hermitage Museum as its official prognosticator for the World Cup.

Achilles the Cat will hope to repeat the fabled exploits of Paul the Octopus and other “psychic” animals tasked with predicting winners of football’s showpiece event.

“We will hold a special press conference and hand Achilles a Fan ID card,” the Hermitage Museum’s cat press secretary Mary Khaltunen told the R-Sport news agency.

The fact that Russia’s most fabled collection of art has a spokeswoman for cats may be news to some.

But R-Sport says Hermitage Museum cats are legion — and apparently football experts.

The cats were first brought to the Hermitage when Peter the Great made its Winter Palace into the new imperial home in the 17th century.

Empress Elizabeth of Russia eventually issued a decree demanding “the shipment of cats to the court”.

The Hermitage was turned into a private art collection after Catherine the Great’s death in 1796.

The Hermitage’s Cat Museum founder Anna Kondratyeva said Achilles went on sabbatical and “put on a belly” after also picking winners in last year’s Confederations Cup in Russia.

It was not immediately clear how well he did.

But the 4.7-kilogramme (10.4-pound) feline would have to be in top form to repeat Paul the Octopus’s correct prediction of all seven German wins at the 2010 World Cup.

The octopus also correctly picked final winner Spain by settling its tentacles over the Spanish flag when it was lowered into Paul’s tank.

Achilles’s selection process will be less dramatic: the cat will simply sticks his snout into the winning bowl of food.

“Achilles was born deaf, which may explain his heightened intuition,” R-Sport wrote.

 

 

 

more

Southwest ‘Casta’ Paintings Spotlight Race, Popular Culture

Masked Mexican rebel leader Subcomandante Marcos, wearing a purple three-piece suit, is paired with Britney Spears in a Wonder Woman costume. Their child is a tiny albino Marcos, smoking a pipe and wearing a turban with his own little ski mask, his body the black-suited torso of James Bond.  

 

Another work by border artist Claudio Dicochea shows Ronald Reagan standing on a Pan American jet in colorful cowboy boots. Coupled with Salma Hayek reprising her role as Frida Kahlo but wearing the uniform of a Russian czar, their son is Heath Ledger as the Joker dressed in a pirate’s getup. Their daughter is the late Mexican movie star Dolores del Rio with the body of superhero Vampirella and the headdress of Aztec emperor Montezuma.

 

Spotlighted in the exhibit “Acid Baroque,” on display at the Scottsdale Museum of Contemporary Art through May 20, these and other works by the 45-year-old Dicochea give a modern psychedelic spin to the colonial “casta” or caste paintings first created in 18th century Mexico, taking viewers to the crossroad of colonialism and contemporary popular culture as he examines the idea of “mestizaje,” or mixed-race identity. The exhibit is part of a program at the museum that showcases up-and-coming artists from Mexico and the American Southwest.

 

The original caste paintings are still seen at some museums, including the one at Mexico City’s Chapultepec Castle, and feature portraits of mixed-race families _ usually the parents and one or two children. They illustrate how intermarriage among Indians, blacks, Spaniards and mixed-race people after the conquest created hierarchal classifications of every mix imaginable, with the children born from diverse couplings arranged from lightest- to darkest-skinned in a kind of table of elements.

 

In Dicochea’s reimagining of the genre, public figures and celebrities from the 20th and 21st centuries such as Jacqueline Kennedy Onassis and Fidel Castro, as well as numerous Mexican TV soap opera stars, are the parents and children.

 

Race is fluid as the artist uses various materials on wood including acrylic, charcoal, graphite and transfer to tie images together into colorful collages. John Wayne the cowboy movie idol is pictured as an Indian rather than an Indian killer. Albert Einstein is shown as a black child in jeans and T-shirt on a bicycle.

 

“It’s a really serious meditation on race by someone who grew up on the border,” museum director and chief curator Sara Cochran said. “I like to call this a Trojan horse show, a beautiful show that teaches you something by the back door.”

 

For Dicochea, creating a new riff on the old casta paintings is a critique of the role visual arts play in shaping ideas about race.

 

“At the core level, I’m showing that the ideas of race and ethnicity are social processes that are made up rather than natural phenomenon, that they are constructed to exert control,” he said.

 

His work is being displayed through the museum’s southwestNET program, which annually spotlights one or more mid-career artists from the region believed to be on the verge of achieving iconic status, Cochran said. The artists can come from Mexico or anywhere in the Southwest from California to Texas and up to Utah and Colorado.

 

Past southwestNet artists have included Postcommodity, an arts collective that brought a four-channel video with sound of the U.S.-Mexico border fence, titled “A Very Long Line,” to the 2017 Whitney Biennial in New York.   

 

Dicochea was born in San Luis Colorado, Mexico, where the northwestern corner of Sonora state meets southwestern Arizona, just south of Yuma. His family immigrated to the U.S. when he was an infant, and he grew up along the border.

 

As a youth, Dicochea labored briefly as a farmworker, irrigating fields in the Yuma Valley. He left at age 20 to study at the University of Arizona in Tucson, later continuing his studies at the San Francisco Art Institute and Arizona State University in Tempe, where he obtained a master’s in fine arts. He and his wife, Adriana, a painter from the border city of Nogales, Mexico, now live in San Antonio, Texas.

 

Among Dicochea’s earliest mentors was the late African-American painter Robert Colescott, known for satirical paintings such as “George Washington Carver crossing the Delaware,” which replaced the revolutionary war hero with the black botanist and inventor standing in a boat filled with domestic workers and minstrels.

 

Dicochea included Colescott’s work in an exhibit of sometimes racially charged works he recently put together with curator Julio Cesar Morales at the ASU Art Museum in an examination of the current social and cultural climate.

 

“Claudio addresses gender, race and class,” said Morales, “offering a very smart mashup of different cultures and styles to tell the story of where we are now.”

 

 

more

What Happens at SXSW?

What originally started as a music festival in the 1980s has evolved into an event that is much bigger and harder to define. Imagine networking and partying for more than a week. That is what is happening in Austin, Texas. Musicians, film promoters and tech companies from around the world are gathering for the South by Southwest (SXSW) conference and festival. VOA’s Elizabeth Lee has the details from Austin.

more

Graphene Brain Implant Could Translate Thoughts into Speech

A brain implant to decode complex speech signals could soon be a reality, giving people who’ve lost the ability to speak the power to be heard again. Faith Lapidus reports.

more

Scientists Hope to Clean Space Junk

Space scientists say the satellites and other spacecraft orbiting the Earth, including the International Space Station, are in increasing danger of collision with pieces of junk. Engineers are working hard to solve the problem of removing the trash that threatens functioning satellites worth millions of dollars. VOA’s George Putic reports.

more