A short article of Emily Torres of BBC London caught my attention. And yes, the lady is so very right.
Great to hear from you!
As former Managing Editor of several law magazines, published in Berlin, Amsterdam, and New York, my job has been also editing a lot of articles. Every time, I met an exclamation mark, I felt an alarming signal.
Yes, even until today, I’m well-known for my cheerfulness. Even on my worst days, I put on a happy face to communicate with people outside my immediate friends and colleagues. In my emails, this behavior manifests itself as exclamation marks. And being honest, I experience the same feelings as Emily Torres.
Honestly, allow me to quote Emily: preoccupied with appearing nice, I used to catch myself using exclamations at the end of every other sentence. And I’m not ashamed to admit it because, chances are, you’ve sent those emails too.
And now, let's stick together: Take a look at the last few messages you sent. If you’re like me/us, you’ll see exclamations and other niceties peppered throughout: “Looking forward to seeing the end result!” and “I’m excited to hear from you!” and “I’m happy to help out!”
But are you?
I like the example of Emily Torres at this point: former US presidential candidate Jeb Bush's use of an excitable exclamation mark in his logo during his 2016 campagin drew some mocking from the media.
Whether you send off a few – or a few dozen – emails a day, you’re making these micro-decisions about how to accommodate your recipient when you address, punctuate, and clarify your ideas in real time. And this is where decades of conditioning creep in, and that anxiety-driven need to be liked emerges.
Especially for women, who use exclamation marks more often than men do. In a 2006 study, researchers analysed 200 exclamations used in professional discussion groups, and found that females used 73% of the exclamation marks. The study concluded that women use these marks more often than men do in order to convey friendliness in their professional interactions.
How is your opinion? The scourge of the exclamation mark is this: I use it excessively because of the pressure I feel to manage the recipient’s feelings. My default tone is enthusiastic, even when the situation doesn’t call for it, says Emily Torres. How about you?
Exclamation marks can sometimes be jarring or convey strong emotion. The European Parliament used them to protest changes to Hungary's constitution in 2013. Have you seen another example during last days or weeks?
I strongly agree with emily in saying, that women tend to overemphasize our kindness at work, and not without good reason. According to McKinsey’s 2018 Women in the Workplace report, we are still less likely to be hired in or promoted to senior positions, and there’s pressure to provide more evidence of our competence than our male colleagues. And, unsurprising to many women, we’re more likely to have our judgement questioned in our area of expertise.
Allow me to ask: is this why I overcompensate with enthusiasm?
This goes beyond my emails, too. In mixed company - maybe you too my dear reader... . I’m not always the loudest voice in the room and I used to be hesitant to interject. I used to fear speaking up and standing up for my ideas and expertise in an effort to let others take the credit they demanded. That meant my contributions went unshared in the name of politeness.
Well, next time you're planing to use exclamation marks think about, that we are often found in warning signs. Using them in your writing to convey enthusiasm too often could warn others to not take you seriously.
When I started paring back my punctuation, I noticed how that same inauthentic enthusiasm was showing up in my day-to-day. I discovered that the time I spend adjusting my tone takes a toll on my energy.
Managing other people’s feelings is exhausting. And what’s worse, it’s unnecessary.
Because an exclamation mark, like kindness, is a valuable resource. And I will use it properly. Full stop. And now let's count, how many exclamation marks I used in this column! Thank you!!! Period.
This might not be the typical expat blog, written by a German expat, living in the Philippines since 1999. It's different. In English and in German. Check it out! Enjoy reading! Dies mag' nun wirklich nicht der typische Auswandererblog eines Deutschen auf den Philippinen sein. Er soll etwas anders sein. In Englisch und in Deutsch! Viel Spass beim Lesen!
You plan to move to the Philippines? Wollen Sie auf den Philippinen leben?
There are REALLY TONS of websites telling us how, why, maybe why not and when you'll be able to move to the Philippines. I only love to tell and explain some things "between the lines". Enjoy reading, be informed, have fun and be entertained too!
Ja, es gibt tonnenweise Webseiten, die Ihnen sagen wie, warum, vielleicht warum nicht und wann Sie am besten auf die Philippinen auswandern könnten. Ich möchte Ihnen in Zukunft "zwischen den Zeilen" einige zusätzlichen Dinge berichten und erzählen. Viel Spass beim Lesen und Gute Unterhaltung!
Ja, es gibt tonnenweise Webseiten, die Ihnen sagen wie, warum, vielleicht warum nicht und wann Sie am besten auf die Philippinen auswandern könnten. Ich möchte Ihnen in Zukunft "zwischen den Zeilen" einige zusätzlichen Dinge berichten und erzählen. Viel Spass beim Lesen und Gute Unterhaltung!
Monday, June 17, 2019
Thursday, June 13, 2019
Comval commemorates the 121st Independence Day of the Philippines
COMPOSTELA VALLEY— The province of Compostela Valley celebrates the 121st Independence Day of the country today, June 12, 2019 at the provincial capitol.
This year’s theme, “Kalayaan 2019: Pagbabagong Ipinaglaban, Alay sa Masaganang Kinabukasan.”, signifies the challenges and progressions the country has gone through the years as to how it is visioned in the present as well as the observance of the country’s economic advancements and success.
The proclamation was signed by 98 delegates in 1898 at the home of General Emilio Aguinaldo in Cavite, and was authored by Ambrosio Rianzares Bautista, entitled as the Declaration of Philippine Independence.
Prior to the flag raising ceremony, a wreath-laying was spearheaded by Vice-Governor Manuel Zamora as it offers with solemnity good thoughts and conveying victory, bravery, peace and eternity for the National Flag and the country.
“There is no need for martyrdom to become heroes. Our times call a different form of it. The heroes of today are those who understand the plight of the poor, those who feel their struggles, those who have the heart to help, those who have enough compassion to enter the chaos of another,” Gov. Tyron Uy said.
After the flag raising, the provincial government officials and employees, representatives from the national government agencies, and other guests attended a short program at the capitol lobby.
“With gratitude to our freedom fighters and heroes of the past, let me take this opportunity to encourage each of us to be a hero. A hero who can touch the lives of others; a hero who can make a difference and be relevant to others," 1001st Infantry Brigade Commander Gilbert F Saret said. BGen Saret is the guest speaker of the celebration.
All government offices are closed for the day as well as the suspension of classes in all levels, with some private establishments also being closed in observance of the national holiday. (Sean Seismundo, ID Comval)
This year’s theme, “Kalayaan 2019: Pagbabagong Ipinaglaban, Alay sa Masaganang Kinabukasan.”, signifies the challenges and progressions the country has gone through the years as to how it is visioned in the present as well as the observance of the country’s economic advancements and success.
The proclamation was signed by 98 delegates in 1898 at the home of General Emilio Aguinaldo in Cavite, and was authored by Ambrosio Rianzares Bautista, entitled as the Declaration of Philippine Independence.
Prior to the flag raising ceremony, a wreath-laying was spearheaded by Vice-Governor Manuel Zamora as it offers with solemnity good thoughts and conveying victory, bravery, peace and eternity for the National Flag and the country.
“There is no need for martyrdom to become heroes. Our times call a different form of it. The heroes of today are those who understand the plight of the poor, those who feel their struggles, those who have the heart to help, those who have enough compassion to enter the chaos of another,” Gov. Tyron Uy said.
After the flag raising, the provincial government officials and employees, representatives from the national government agencies, and other guests attended a short program at the capitol lobby.
“With gratitude to our freedom fighters and heroes of the past, let me take this opportunity to encourage each of us to be a hero. A hero who can touch the lives of others; a hero who can make a difference and be relevant to others," 1001st Infantry Brigade Commander Gilbert F Saret said. BGen Saret is the guest speaker of the celebration.
All government offices are closed for the day as well as the suspension of classes in all levels, with some private establishments also being closed in observance of the national holiday. (Sean Seismundo, ID Comval)
Sunday, June 9, 2019
Thou art the one.
My column in Businessweek Mindanao, Mindanao Daily News and Cagayan de Oro Times.
The fault we see in others often reveal our own imperfections. We frequently criticize our own shortcomings when we see them in others.
Very often, we hear from colleagues, neighbors, friends or family members and others things they seem to hate. They even criticize other people about their looks or activities during weekends, vacations or off days. Most of the time, gossiping can really easily ruins others' life.
And where does gossip start? Gossips come about because of envy. Why not try to love unlovables instead of giving so many negative comments and criticisms? Why not examine ourselves first before criticizing others?
Upon examination of my own life, I'm annoyed when others are late for an appointment and keep me waiting. I really feel angry, when parents speak harshly and treat their children cruelly, when an individual monopolizes the conversation. Or, when others neglect the spiritual side of life in favor of temporary physical pleasures.
At such times when I look inward, I hear the words "Thou art the one". Then I realize that imperfections I see in others are often my own.
When the Lord looks at us, He sees not only what we a re but what He enables us to become. We can learn not to expect too much from ourselves that we become discouraged. The grace of our Lord does not change us unless we respond. It can change our outlook and our attitudes. With changed attitudes, we can become what we otherwise would never be.
Friday, June 7, 2019
Comval hailed one of the victors for the "Rice Achievers Award"
By Sean Seismundo
Compostela Valley Province—The provincial government of Compostela Valley won yet another award for the "Rice Achievers Award" for 2019, earning the title of being one the top producers of rice in the country.
Awarded by the Department of Agriculture (DA), a ceremony was held last May 30, 2019 at the Philippine International Convention Center (PICC) in Pasay City, Metro Manila.
The National Rice Achievers Awards is an annual event by the Department of Agriculture under the National Rice Program (NRP) by PRRD, for the purpose of promoting and honoring those provinces, municipalities, cities, farmer technicians, and agricultural workers and associations for their contributions for the rice industry of the country.
Provincial Governor Jayvee Tyron L. Uy received the award during the ceremony along with Dr. Minda Agarano, PG Department Head of Provincial Agriculturist Office (PAGRO) and Dr. Ronald Sibayan, Asst. PG Department Head of PAGRO from the ceremony’s guest of honor, Senator Cynthia Villar.
Among the prizes were a certificate and official plaque of the award, as well as 4 million pesos as given by the DA.
Out of all 82 provinces in the country, Compostela Valley won the “Rice Achievers Award” and the Municipality of Compostela was named as the LGU with the most sufficient production of rice in Davao Region.
A total of seven provinces also won the said award throughout the country, which includes Compostela Valley, Lanao del Norte, Nueva Ecija, Nueva Viscaya, Occidental Mindoro, Bukidnon, and Zamboanga del Norte.
"Our province won the highly-coveted Rice Achievers Award today. We are one of the only seven (7) rice-sufficient provinces in the whole country. As a reward, the Department of Agriculture extended us a four (4) million pesos incentive. We dedicate this award to all hardworking rice farmers in our province, to the Department of Agriculture and our Provincial Agriculturist's Office for assisting our farmers. Indeed, a huge leap for our goal to achieve zero hunger and food security in the province.", said Governor Uy
This is not the first time the province has won the Rice Achievers Award, as they have also won three times before, making it the 4th recognition this year.
"Despite our limited production area of about 13,000 hectares, yet we were able to contribute significantly to the regional and national rice sufficiency. The province attained a 102% rice sufficiency in 2018. This award was achieved due to our concerted efforts, unity and cooperation among our stakeholders,” Agarano said. (Sean Seismundo, ID Comval, Photos by M. Lasaca)
Saturday, June 1, 2019
That' me ... / Das bin ich ...
A big thank you dear Aurelio "Boy' dela Pena for this awesome portrait in oil of mine. It got a good place in my home now.
Thursday, May 30, 2019
Comval celebrates "Farmers and Fisher Folks Month"
Compostela Valley Province – Approximately 700 farmers attend the annual for the “Farmers and Fisherfolks Month Celebration” at the Municipal Dome at Monkayo, Comval Province.
The celebration was held on Wednesday, May 23, 2019, with the theme “Magsasaka’t Mangingisdang Pilipino, Saludo ang Bansa sa Sipag, Tibay at Lakas.”
The farmers were given calamansi seedlings and durian seedlings, along with rice seeds for crops for their attendance of the celebration.
Among officials in attendance were Mayor Ramil Gentugaya, who gave a welcome message at the event and PAGRO Chief Minda Agarano also gave a rationale of the events in the celebration. New Calape MPC Chair Lope Padilla was also present and as well as Congressman Elect Vice Governor Manuel “Way Kurat” Zamora, who gave an inspiring message, were also in attendance.
DA Region XI Dir. Ricardo Oñate also gave his message of support for the farmers and fishermen for the development of the province’s agriculture, and 11th EastMinCom Commander Lt. General Felimon R. Santos Jr. also gave a keynote message during the event.
The giving of the “Award sa mga Gawad Saka: Provincial Level” was one of the highlights of the event through the recent winning of the recent Philippines Coffee Competition. Dr. Jaime Anter also explained the progressive innovations of the coffee products along with CEO and Founder Felicitas B. Pantoja, as they also explained the potentials of coffee within the market. Curriculum Instruction Division (CID) Chief Josie Bolofer also addressed the highlights of the “Liwanag ng Pamilya” program as made by Comval DepEd.
The “Farmers and Fisherfolks” celebration, made possible by the Department of Agriculture (DA) is an annual celebration held every May for the Filipino farmers and fishermen for their hard work to provide food to Filipino tables.
Different corporations, companies, and DA-Regional Field Offices (RFOs) also volunteer in the activity to express their appreciation of the farmers and fisherfolk’s important role in the implementation of agriculture and fisheries programs. (Sean Seismundo, ID Comval)
Tuesday, May 28, 2019
Dreams are but shadows?
My column in Mindanao Daily and BusinessWeek Mindanao
I dream of a better world. A world without war and only peace. Without hunger and thirst. Daydreams ... .
Dreams at night: At one time, people thought that the figures appearing in dreams were messengers from Gods. It has been generally believed that dreams came from something outside the persons with special skill.
Today, it is believed that dreams are created by the dreamer himself. And because dreams are something a person creates, they may have a special meaning for the person who dreams them.
Just why you have a particular dream when you do may depend on many things. Your health may have an effect on your dreams. A person who is ill or uncomfortable will have different kinds of dream than that of a person who is well and happy.
If a person is hungry, or feeling cold, or very tired, his dreams may include this feelings. Many dreams seem to be made up of disguise feelings. Also, the events of the day before may have a lot to do with what one dreams. Often the persons or situations in a dream are those that you met during the day. Or your emotion may make you have the kind of dream you have. Needing or wanting something may be also expressed in a dream, and being frightened may become part of a dream.
The feelings of happiness or disappointment which come out in dreams were probably in the dreamer before.
Dowling continues: for many of us, dreams are an almost intangible presence. If we’re lucky, we can only remember the most fleeting glimpse in the cold light of day; even those of us who can recollect past dreams in astonishing detail can wake some days with almost no memory of what we had dreamed about.
There is little ethereal about the reasons this might be happening, however. Why we have dreams – and whether we can remember them – are both rooted in the biology of our sleeping bodies and subconscious mind.
Sleep is more complicated than we once thought. Rather than being a plateau of unconsciousness bookended by slipping in and out of sleep, our resting brains go through a roller coaster of mental states, with some parts being full of mental activity.
Indeed, we become often blindly accept what is happening in this often nonsensical narrative until the time comes to wake up.
The problem is, the more jumbled the imagery, the harder it is for us to grasp hold of. Dreams that have a clearer structure are much easier for us to remember, psychology professor and author Deidre Barrett said in a recent story on Gizmodo.
Francesca Siclari, a sleep research doctor at the Lausanne University Hospital, says there are clear definitions between our states of wake and sleep – and that is no accident. “It’s probably a good thing that the dream life and the waking life are completely different,” she says. “I think if you remembered every detail like you can do in waking life, you would start to confuse things with what’s actually happening in your real life.”
Fact is: not being able to remember everything about our dreams is important, so that we don't confuse them with reality. And if you wish to remember your dreams, try to follow Harvard Medical School sleep researcher Robert Stickgold - that simply repeating to yourself as you drift towards sleep that you want to remember your dreams means you wake remembering them. Stickgold laughs: “It actually works. If you do that you really are going to remember more dreams, it’s like saying ‘There’s no place like home’. It really works.”
I dream of a better world. A world without war and only peace. Without hunger and thirst. Daydreams ... .
Dreams at night: At one time, people thought that the figures appearing in dreams were messengers from Gods. It has been generally believed that dreams came from something outside the persons with special skill.
Today, it is believed that dreams are created by the dreamer himself. And because dreams are something a person creates, they may have a special meaning for the person who dreams them.
Just why you have a particular dream when you do may depend on many things. Your health may have an effect on your dreams. A person who is ill or uncomfortable will have different kinds of dream than that of a person who is well and happy.
If a person is hungry, or feeling cold, or very tired, his dreams may include this feelings. Many dreams seem to be made up of disguise feelings. Also, the events of the day before may have a lot to do with what one dreams. Often the persons or situations in a dream are those that you met during the day. Or your emotion may make you have the kind of dream you have. Needing or wanting something may be also expressed in a dream, and being frightened may become part of a dream.
The feelings of happiness or disappointment which come out in dreams were probably in the dreamer before.
But, why can’t some people remember their dreams? Do you experience this too? Many of us struggle to remember the details of our dreams. The reasons lie in the complicated cycles of our sleep, as we can learn from Stephen Dowling, a British writer.
Dowling continues: for many of us, dreams are an almost intangible presence. If we’re lucky, we can only remember the most fleeting glimpse in the cold light of day; even those of us who can recollect past dreams in astonishing detail can wake some days with almost no memory of what we had dreamed about.
There is little ethereal about the reasons this might be happening, however. Why we have dreams – and whether we can remember them – are both rooted in the biology of our sleeping bodies and subconscious mind.
Sleep is more complicated than we once thought. Rather than being a plateau of unconsciousness bookended by slipping in and out of sleep, our resting brains go through a roller coaster of mental states, with some parts being full of mental activity.
Indeed, we become often blindly accept what is happening in this often nonsensical narrative until the time comes to wake up.
The problem is, the more jumbled the imagery, the harder it is for us to grasp hold of. Dreams that have a clearer structure are much easier for us to remember, psychology professor and author Deidre Barrett said in a recent story on Gizmodo.
Francesca Siclari, a sleep research doctor at the Lausanne University Hospital, says there are clear definitions between our states of wake and sleep – and that is no accident. “It’s probably a good thing that the dream life and the waking life are completely different,” she says. “I think if you remembered every detail like you can do in waking life, you would start to confuse things with what’s actually happening in your real life.”
Fact is: not being able to remember everything about our dreams is important, so that we don't confuse them with reality. And if you wish to remember your dreams, try to follow Harvard Medical School sleep researcher Robert Stickgold - that simply repeating to yourself as you drift towards sleep that you want to remember your dreams means you wake remembering them. Stickgold laughs: “It actually works. If you do that you really are going to remember more dreams, it’s like saying ‘There’s no place like home’. It really works.”
Let's try it. Good night.
Sunday, May 26, 2019
Cultural Potpourri in Davao City
Celebrating the Enthronement of Emperor Naruhito of Japan’s Reiwa Era
BY MICHAEL EBRO DAKUDAO ON MAY 26, 2019 @ MINDANAO TIMES
When Kotaishi Naruhito Shinno or Crown Prince Naruhito of Japan married the Harvard and Oxford educated Japanese diplomat, Masako Owada, in June 9, 1993, in an ancient Shinto wedding tradition, I was among the foreign students in Tokyo who celebrated with the rest of the Japanese. The love story was like the Japanese version of Prince Charles of England marrying Diana. It is a known fact that the Crown Prince persevered in pursuing the bright and pretty Masako and even proposed to her three times.
Last May 1, 2019, the Crown Prince ascended to the Chrysanthemum throne as Emperor Naruhito replacing his father, Emperor Akihito of the Heisei (Achieving Peace) period of Japan’s history. Emperor Akihito abdicated on April 30, 2019, owing to old age and failing health. The Reiwa (Beautiful Harmony) era ushered by Emperor Naruhito’s enthronement begins this May, 2019. He is the 126th Emperor of Japan.
Emperor Naruhito was born on February 23, 1960, as the eldest son of Emperor Akihito and Empress Michiko. He earned his degree in History at the exclusive Gakushuin University in Tokyo. The Emperor spent two years to study overseas at Merton College, Oxford, England. He is actively involved in international environmental issues.
Japan’s Emperor performs a symbolic role rather than a political function as stipulated in the Japanese Constitution. He is the “symbol of the state and of the unity of the people.” In the past, the Emperor was considered the “living embodiment of gods.”
Last May 23, Japanese Consul General Yoshiaki Miwa invited various representatives of the Davao Community, including the diplomatic corps and Japanese nationals based in Davao, to celebrate belatedly “the Enthronement of His Imperial Highness the Crown Prince and the 100th Anniversary of the Davao Japanese Community” held at the Ballroom of Marco Polo Davao.
“During the 30-year Heisei era of His Majesty the Emperor Emeritus, relations between Japan and the Philippines greatly strenthened and, on behalf of the government of Japan, I would like to express my gratitude to all of you for your support and cooperation for the past era. I am confident that the “Beautiful Harmony,” which is the essence of Reiwa, will continue to flourish in both our countries as we work together and further advance the Philippine-Japan strategic partnership,” said Consul Yoshiaki Miwa in his message.
The Japanese Consul General in Davao also informed the guests of the 100th Anniversary of the Davao Japanese Community in Davao’s history. “The Japan-Davao relationship started in 1903 when the first group of 30 Japanese immigrants arrived in Davao to work in an agricultural plantation. This eventually started the continuous flow of immigration from Japan to this area. The early Japanese immigrants were mainly engaged in the production of abaca, a prime commodity at that time. In 1918, the Davao Japanese Association was organized; then in 1920, the Japanese Consulate was established to look after the welfare of the Japanese settlers in Davao. At its peak, the Japanese community then reached twenty thousand; and Davao came to be known as the Little Tokyo of the Philippines.”
Mayor Sara Duterte-Carpio failed to take part in the historic affair. Her message was read instead by Councilor Maria Belen Acosta: “A centennial of friendship built in confidence is what brings us together tonight–a friendship that has led to numerous promising engagements both in our homeland and yours. Thus, Davao City is eternally grateful to Emperor Akihito for his warm reception of Davao and Japan’s bilateral relations for the past years. His goodwill for Davaoenos will forever be etched in the heart of Davao’s history.” The Mayor believes that Emperor Naruhito “would deliver an outstanding leadership like his father” and that friendly ties with Japan will continue to blossom under Emperor Naruhito’s reign.
Giving a short congratulatory message as well that evening was Ambassador Uriel Norman Garibay, the Assistant Secretary of the Department of Foreign Affairs in Mindanao.
While attending the special event that evening, I couldn’t help but think of my family’s personal attachment to Japan. It was in Tokyo that my grandfather, Dr. Santiago Pamplona Dakudao, Sr. earned his medical degree as one of the earliest Filipinos to study in the Land of the Rising Sun. It was while he was working at the St. Luke’s Hospital near the Ginza that he met my grandmother, Carmen Lacson of Silay City, Negros Occidental, who was then having her eczema treated. They fell in love and eventually got married in the Philippines. My grandfather was then hired by Ohta Kyosaburo to work as resident physician at the Ohta Development Company’s (ODC) Mintal Hospital where he delivered at birth a generation of Japanese born in Davao. My grandmother, on the other hand, taught Spanish and English to Japanese laborers of the ODC. After my grandfather retired from his hospital duties, he became successful in operating his abaca plantations with the help of Japanese laborers led by Kenichi Migitaka who were recommended to him by Ohta Kyosaburo. He had an awesome plantation house built in Tugbok utilizing Japanese carpenters and masons.
Among the Dakudao grandchildren, it was only I who managed to study and graduate at the premier University of Tokyo as a Japanese Government scholar during Emperor Akihito’s Heisei era. It was while studying in Tokyo that I got to learn more about my grandparents through stories narrated to me by their former Japanese employees. My stay in Japan was made comfortable with the valued help with of the late Kenji Migitaka family who served as my foster family. I am truly grateful and will always take pride in my family’s Japanese connection.
Saturday, May 18, 2019
The EURO @ 20
My column in Mindanao Daily News
And many people are asking the simple question: will it make to 30?
Yes, the Euro is at a crossroads as it turns 20, and even some believe it might not make it to 30, I strongly disagree. As the single currency doesn't seem to benefit all, its role was a main topic at the European Economic Forum, reports Jo Harper, a German-international journalist.
At the European Economic Forum, held this week in the southern Polish town of Katowice, the future of the euro zone and the Single European Currency, the Euro, featured centrally. A view increasingly shared was that of Brigitte Granville, Professor of International Economics at the University of London, who stressed that the Euro urgently needed further political integration among the currency union's 19 member states.
"Monetary union requires political union and that is what the common budget means," she told an audience of European economists and policy advisers.
Do you still remember French President Emmanuel Macron in 2018 proposing driving ahead with European integration by establishing a single budget, the next step after the creation of the European Central Bank (ECB) in 1998 allowing the establishment of a single monetary policy framework. At the heart of Macron’s plan is strengthening the currency area's bailout fund, the European Stability Mechanism (ESM).
Professor Granville said in an interview with the German National TV, that she didn't believe Macron's idea would be going very far. "But if it did happen, it would be very dangerous, further integration is a grave concern," she said, adding: "Without political glue, you don't have real union. But at the same time the euro zone is slowing Europe."
Sad to say but we have to face it: The Euro zone economic growth is expected to slow in 2019 and some even believe the currency area could even face recession in 2020. What does that mean for the global economy, i.e. while dealing with the US-China trade war and other world's conflict zones?
Monetary union, Granville went on, is "just a fixed exchange rate" which would always end in financial crisis. "It cannot be dismantled, only by crisis and explosion. What will catalyze this I don't know, but I don't see it lasting for the next 10 years," she says, pointing to post-tax incomes in Italy down 5% and in France down 2%, while Germany is up 19%.
In my opinion, Granville voiced some very important details to think about, "The big mistake of the Euro is that it forces Germany to cooperate with countries that need spending, but Germany doesn’t need to. Lax monetary policy destroys pensions, saving and the banking system. So, there is no monetary stimulus. This is the Euro, welcome to the Euro".
Well, here is the question: drive on or turn back?
Paris also wants banking union, common rules and institutions governing the bloc's largest banks, in addition to a common deposit insurance scheme and a backstop to be used to support the winding down of failing banks.
EU governments have agreed to set up the European Stability Mechanism (ESM) — a €500 billion ($575 billion) fund that is, intended to absorb bond market turbulence. But a deposit guarantee scheme was opposed in Berlin. However, debate is still ongoing regarding a euro zone budget and a common system for security savings.
Germany and other northern euro zone countries have been reluctant to go as far as Macron would like to on this front.
Former German Federal Finance Minister Wolfgang Schäuble has also called for the EU to have more clout to set finance policy and ending the unanimity requirement in bloc-wide decision-making.
But some northern European countries are opposed to the idea, citing the difference between their tight fiscal frameworks and the traditionally loose budget policies in southern Europe. Finland, Denmark, Ireland, Latvia, Lithuania and the Netherlands have adopted a common position on the budget, arguing that participation in it should be voluntary as long as the funding is derived through intergovernmental agreements, as I learned from German journalist Jo Harper.
Strangling Europe? Hans-Olaf Henkel, a staunch Euro critic and MEP with the European Conservatives and Reformers in the European Parliament, even believes the currency is destroying the European Union.
"Until May 2010 I supported the euro, but then the European Central Bank and Brussels broke the promises they gave to the German people when they agreed to give up the deutschmark, namely that no country should have a debt ratio of over 3% of GDP. If breached, the EC [European Council] said it would punish the culprits. It was breached 160 time and the EC did nothing." the former head of the Association of German Industrialists (BDI) adds.
Henkel also said the Euro had done much economic and political damage in Europe, even to Germany which had benefited the most from the introduction of the currency.
Nine EU countries are not in the Euro, of them only Romania wants to adopt it. Why is that Henkel asks rhetorically, and notes that those countries "have done much better" most euro zone countries?
"The Euro is much too strong for the Italians and France. Huge unemployment. Countries can’t devalue. Some countries find it very difficult to reform, including France. But they can’t devalue to stay competitive. The Euro is designed to push countries to change, rather than vice versa."
The Euro @ 20 now. The Euro @ 30? We'll see ... .
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