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The time for talk is over: Europe’s politicians need to act fast in order to solve the ongoing ﬁnancial crisis in the eurozone
The stable of fictitious beasts from Greek mythology acquired a new inmate this week, unveiled in the letter from the Syriza government proposing economic reforms to keep the country’s bailout going. Yanis Varoufakis, the finance minister, has bravely set off in search of that wondrous creature: “EU best practice across the range of labour market legislation”.Read more
The postponement of Nigeria’s presidential elections on security grounds has flushed into the open scenarios reminiscent of the dark days when the country’s democratic aspirations were stifled by a military cabal. The polls will take place against a backdrop of regional and ethnic tensions, with the ruling Peoples Democratic party up against a well organised opposition. A free and fair vote could lead to the country’s first constitutional transfer of power, an event that, if handled peacefully, would not only further Nigeria’s political evolution, but provide a fillip to democracy across the continent.
If, on the other hand, the constitutional process is disrupted at the first sign of a real political contest since the restoration of civilian rule in 1999, it would set back democratic progress by years and potentially trigger chaos, civil society groups and prominent leaders including former president Olusegun Obasanjo warn. Amid the uncertainty, several possible scenarios are emerging.Read more