1 Cyprus keeps banks shut to avert disaster (Angelique Chrisafis & Miriam Elder in The Guardian) Cyprus ordered its banks to remain closed until next week as the cabinet held emergency talks in an effort to strike a deal with the EU or Russia to avert financial meltdown and stave off bankruptcy. After the country’s parliament rejected a plan to provide €5.8bn by seizing a portion of bank deposits from anyone with a bank account, Cyprus is struggling to come up with a plan that will let it access an EU bailout to stop its banks failing.
The country's eurozone partners and the International Monetary Fund are ready to provide €10bn in an emergency bailout if Cyprus comes up with an extra €7bn itself. Most of the bailout money is needed to shore up the country's oversized banking sector, with the rest for government finances.
No clear "plan B" had emerged after meetings between politicians and representatives of European partners and the IMF. The Cypriot cabinet was said to be discussing ideas including the nationalisation of pension funds of semi-government corporations, which hold €2bn-€3bn, and another form of levy on deposits. Another option debated may have been natural gas bonds linked to hydrocarbon reserves discovered off Cyprus, which remain uncertain and will not be exported until at least 2019.
2 ‘Days’ of our lives (PG Bhaskar in Khaleej Times) Even as a kid growing up in secular, must-please-everyone, democratic India, remembering ‘days’ was tough. It wasn’t just Independence day and Republic day. There was Children’s day, Teachers’ Day, Eid Days, Hindu festive days, Parsi Navroz, Mahavir Jayanti, Guru Nanak’s birthday, Christmas and a host of Indian ‘new year’ days — almost one for every state. Then there were harvest festivals, days in commemoration of various events related to deities, leaders etc. But what made it easy to remember them was that most of these days had a school holiday attached to them.
Then life started getting complicated. Someone out there in the West came up with Mother’s Day and Father’s Day. This took root and spread its wings eastward, as young Asians migrated to the West. Slowly, the concept caught on till parents started feeling hurt if their kids didn’t wish them on this particular day. Having tasted success, the marketing devils then focused on the youth. Valentine’s Day was the next big thing. Eager college students were an easy target. Suddenly teddy bear dealers, chocolate sellers and card makers were doing more business in February than in most other months.
It didn’t stop there. The concept of a special day to focus attention on something caught on. A series of other ‘days’ followed. Grandparents’ day has been celebrated in the US since 1978, but is now known in several other countries as well. Secretaries the world over began to sulk if their bosses or employers forgot about Administrative Professionals’ Day (Secretaries’ Day) which comes up in April. And if we can have a Secretaries’ Day, can Boss’ Day be far behind? No, so we have that too, to add to our arsenal.
Over time, the WHO, keen to capitalise on the ‘day’ fever and creating awareness, proclaimed World Health Day (April 7). The World Heart Federation declared the 29th of September as World Heart Day and the Dental Federation quickly grabbed the 12th of the same month as Oral Health Day. The UN World Tourism Organisation has claimed for itself the 27th of September as World Tourism Day and UNESCO considers September 8 International Literacy Day.
Who is authorised to usurp these ‘days’? To the best of my knowledge, everyone is. It doesn’t have to be governments or international organisations, though of course, they carry more weight. See what I mean? I wonder if there is any ‘day’ at all that has not been taken?
3 No easy job for new Pope (Khaleej Times) The world is particularly impressed by the new pontiff’s penchant for helping the poor. Taking the name of Francis, after the St Francis of Assisi —the 13th century son of an aristocrat who shunned wealth and luxury and strived to help the destitute — the new pontiff is renowned for being a champion of the needy. In fact, his populist words — “A poor Church for the poor” — have struck a chord with people all over the world, especially those from Latin America.
The 266th pontiff’s humility has definitely won accolades worldwide, but his job will not be easy. The religious leader has assumed leadership of the church at a rather difficult time. With falling membership, damning sexual abuse scandals and lack of inter-faith dialogue, the institution has been recently plagued by a number of problems. Christians, therefore, are expecting Pope Francis to revive the Church; his fellow Latin Americans particularly have very high hopes from him. The world is patiently waiting to see whether the new pope will live up to his historical namesake’s reputation.
4 Rapes raise a stink for India (Shreya Shah in The Wall Street Journal) The UK has reviewed its advisory for British travelers to India after a Swiss tourist was allegedlyraped by a group of men in the central Indian state of Madhya Pradesh. The travel advisory mentions that more cases of sexual assault against women and girls are being reported in India, noting that there have also been recent sexual attacks against foreign tourists. It asks women to be “cautious” when travelling in India and suggests women “respect local dress codes and customs and avoid isolated areas, including beaches, when alone at any time of day.” It also asks them to avoid travelling alone on public transport, or in taxis or auto rickshaws, particularly at night.
The caution is the latest to cast India’s treatment of women in a poor light since the December gangrape in Delhi of a 23-year-old physiotherapy student, an incident that attracted attention worldwide. On Tuesday, a British tourist said she jumped out from the balcony of her hotel room in the northern city of Agra to escape sexual harassment, according to local police.
Sachin Chauhan, the hotel’s manager, has been arrested by police. He has been charged with sexual assault. Mr. Chauhan couldn’t be reached for comment. Pawan Kumar, superintendent of police in Agra, said she doesn’t wish to continue her trip and will return to UK.
Other countries also ask female travelers to India not to travel alone. A US travel advisory says that “eve-teasing,” an Indian term for sexual harassment, can occur anytime anywhere, especially in crowded areas like a market place or in the street. It says that “rape is the fastest growing crime in India,” and foreign women should be vigilant. It asks women to keep their hotel room number confidential and make sure that room doors have chains, deadlocks, and spy-holes.
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