Saturday, January 31, 2015

Germany not to cancel more Greek debt; Spain rally in support of Greek way out of debt; Dealing with 'frenemies' at work

1 Germany not to cancel more Greek debt (The Guardian) The German chancellor, Angela Merkel, has ruled out cancelling more of Greece’s debt, saying the country has already received billions of cuts from bankers and creditors.

Merkel’s intervention comes after the Greek finance minister, Yanis Varoufakis, refused to work with the troika of lenders – the European commission, European Central Bank and International Monetary Fund – to renegotiate the terms of the debt-ridden country’s €240bn (£180bn) bailout programme.

Greece’s leftwing Syriza party won last weekend’s election with a pledge to have half the debt written off and has already begun to roll back the austerity measures the creditors had demanded of the previous government.

But the German chancellor said that she still wanted Greece to stay in the eurozone. “The aim of our policies was and is for Greece to remain a part of the euro community permanently,” Merkel said. The size of the Greek economy has shrunk by more than a quarter – the worst slump in modern times – as a result of consecutive waves of budget cuts and tax rises enforced at the behest of creditors.

Alexis Tsipras, the new Greek prime minister, will visit Rome on Tuesday to meet with his Italian counterpart Matteo Renzi and Paris on Wednesday for talks with French president Francois Hollande with the aim of winning support for his anti-austerity policies.


2 Spain rally in support of Greek way out of debt (BBC) Tens of thousands of people massed in central Madrid for a rally organised by radical Spanish leftists Podemos. The "March for Change" is one of the party's first outdoor mass rallies, as it looks to build on the recent victory of its close allies Syriza in Greece.

Podemos leader Pablo Iglesias told the crowd a "wind of change" was starting to blow through Europe. Podemos has surged ahead in opinion polls, and has vowed to write off part of Spain's debt if it comes to power.

Protesters are parading in the same streets that over the past six years have seen many other gatherings against financial crisis cutbacks imposed by successive governments. But Spanish Prime Minister Mariano Rajoy said Podemos had no chance of winning elections. Many Spaniards are enraged over reports of political corruption and public spending cuts implemented by Mr Rajoy's People's Party and before that by the Socialists.

Our correspondent says that since Podemos stormed onto the political scene in last May's European elections, it has moved from strength to strength with its uncompromising message against austerity and corruption. But both left-wing and right-wing media have criticised Podemos, accusing it of having ties with Venezuela's left-wing leaders and alleging financial misconduct by some of its senior members.

Spain has now officially come out of recession but nearly one in four workers remains unemployed. Last year was the first time there has been full-year economic growth in the country since 2008, when a property bubble burst, putting millions of people out of work and pushing the country to the brink of a bail-out.


3 Dealing with ‘frenemies’ at work (Johannesburg Times/Harvard Business Review) Friends at work who are trusted confidantes may sometimes gossip about you. Co-workers who encourage you may also disparage you in front of others. How can you navigate these relationships with "frenemies"?

A. Focus on the positive: Having a frenemy is better than having an enemy. Start by sharing some personal information and building a small degree of trust; even if these relationships do not ever make it into a "friend" zone, they have some unexpected benefits. B. Try to work together on an important project: Frenemies are a source of motivation, and working alongside them will make you work harder to prove yourself.

C. Turn your enemies into frenemies: Aim to transform your worst relationships not into friendships but into ambivalent ones, which have more benefits in terms of your motivation and personal success. You can do this by getting to know your enemy better and focusing on his or her more positive characteristics.

D. Appreciate your varied social ledger: Remember that it is not just you who feels ambivalent toward others at work. Stop feeling guilty about these uncomfortable feelings and appreciate that you have a wide range of relationship types at work, as does everybody else.

Despite the benefits, we do not want all our relationships to be ambivalent. There is much more to be gained by having as many positive relationships as possible — and that is where your priorities should lie. But navigating relationships at work is complicated, and not only are love-hate relationships unavoidable, but having a few is good for us.

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