BC WORLD
Saved by @jacobhtml

A lot has been written about what Mario Draghi's arrival in Italy means for Italy. But little has been said about what he could mean for Europe. I think Draghi could be a game changer for EU; he could even turn its toxic North-South dynamic on its head. Thread 1/

 Why? The @EU_Commission is currently reviewing (quietly) member states reform plans. These are basis upon which EU capitals hope to begin receiving their allocation, in transfers & loans, from the €750 billion Recovery Fund, starting later this year 2/
Remember the numbers are unprecedented. Italy is eligible for ~€188bn (roughly €65.5bn in grants; €123bn in loans). Spain a €144bn, roughly €59bn in grants & €85bn in loans etc etc. The amounts for all member states are unprecedented 3/
Yet despite this, & fact Fr & Ger pushed hard for this deal, officials in Bxl are scathing about proposals advanced by.. Paris & Berlin. I oversimplify: but basically, Macron is distracted by Covid; Merkel, elections in Sept. Sweeping reforms are the last thing on their minds 4/
This puts Commission in its usual bind. If Bxl doesn’t raise the reform bar with Chancellery & @Elysee, it will have no credibility to push southern Europe to do same. But it also can’t impose reforms on countries that aren’t willing to do them, especially not the big 2 5/
Queue Draghi, who is likely to prove the exemplar: slashing red tape, addressing structural admin & judicial bottlenecks that have prevented Italy properly absorbing EU funds; tax & labour market reform, & a focus on levels & efficacy of investment 6/
Of course, none of this will be easy. The politics in parliament are treacherous, there's lingering divisions within his new Govt, big concerns over how long it will last & reforms will be pol charged & take on powerful interest groups 7/
But Draghi commands huge public support (60% & rising; Italy’s most popular pol figure by far) & a huge parliamentary majority. He also has a deep level of knowledge & expertise, & likely wouldn't have taken the job unless he had some assurances he could get his agenda through 8/
Perhaps most importantly: the example Draghi sets will create space & precedent for the Commission to go back to Berlin & Paris & demand they do more. It will reduce risk Bxl is scapegoated for not properly enforcing Dec deal (€ for reform); it may encourage Macron to do more 9/
The Recovery Fund needs to succeed in a few test countries, esp Italy but also France, to increase legitimacy of fiscal transfers within EU - either as a permanent feature or in event of future crisis. Even if Draghi makes this slightly more likely, this would be a big win 10/
But this isn't all. Draghi could also positively impact discussion on reform of EU’s outdated fiscal rules. Immediately re-applying the old rules after Covid - 3/60% deficit/debt limits & movement to those thresholds obvs makes no sense in light of unprecedented borrowing.. 11/
the pandemic has necessitated. The result would be (again) unprecedented austerity that even northern Europe recognizes would be counterproductive.  So rules will probs remain suspended this/next year as EU capitals negotiate what to do about them 12/
However, as we all know, the 3/60% & idea of debt reduction are hardwired into EU’s treaties & won’t change. But the secondary legislation that implements the treaty could be up for grabs. This is where the “Draghi effect” could have an impact 13/
Seeing reforms in Italy cd encourage more hawkish Northern states to back a set of rules that are slightly less obsessed with austerity & more focussed on growth (a “golden rule“) that carves out fiscal space for high quality public spending on green & digital transitions 14/
Bottom line: Draghi is unlikely to be the subordinate previous Italian PM's have been to their masters in Berlin, Paris, the Hague, Brussels & even DC. Draghi is a different beast 15/
If he delivers Recovery Fund reforms & spending in Italy that are seen as a success, Draghi could fundamentally change the econ conversation in Europe, & even its architecture/institutions & prospects over medium term

My latest in @POLITICOEurope

https://t.co/o60uA48OwB

More from World

Frank Bowman
Frank Bowman
@FOBowman3
1/10 With respect, multiple straw men here:
A) If you mean by "legally questionable" either that Senate is barred by constitution from trying an official impeached while in office, or that there are even very strong arguments against it, I have to differ...


2/10 Constitutional structure, precedent & any fair reading of original intent dictate that argument for jurisdiction is far stronger than argument against. On original intent, see

3/10 If you mean argument against jurisdiction is plausible, sure, it's plausible. It's just weak. In practical fact, Senate can try Trump now, find him guilty & disqualify him from future office if there are sufficient votes. And no court would presume to overturn that result

4/10 b) The argument from resources is awfully hard to take seriously. Fewer than a dozen House members act as Managers for a few weeks. They are staffed, as are Senators hearing case, by folks whose job it is to do stuff like this...

5/10 Yes, Senate floor time will be taken up. But it's past time for us to stop thinking of members of either house as feeble, fluttering, occupants of a nationally-funded convalescent home. There are nearly 500 of these people with 1000s of staff and a bunch of big buildings...
WORLD
Gulay Turkmen
Gulay Turkmen
@gulayturkmen
Watch the entire discussion if you have the time to do so. But if not, please make sure to watch Edhem Eldem summarizing ~150 years of democracy in Turkey in 6 minutes (starting on 57'). And if you can't watch it, fear not; I've transcribed it for you (as public service). Thread:


"Let me start by saying that I am a historian, I see dead people. But more seriously, I am constantly torn between the temptation to see patterns developing over time, and the fear of hasty generalizations and anachronistic comparisons. 1/n

"Nevertheless, the present situation forces me to explore the possible historical dimensions of the problem we're facing today. 2/n

"(...)I intend to go further back in time and widen the angle in order to focus on the confusion I  believe exists between the notions of 'state', 'government', and 'public institutions' in Turkey. 3/n

"In the summer of 1876, that's a historical quote, as Midhat Pasa was trying to draft a constitution, Edhem Pasa wrote to Saffet Pasa, and I quote in Turkish, 'Bize Konstitusyon degil enstitusyon lazim' ('It is not a constitution we need but institutions'). 4/n
WORLD
Advertisement
Martin Chorzempa \u9a6c\u6c38\u54f2
Martin Chorzempa 马永哲...
@ChorzempaMartin
Thread on Invisible China: Scott Rozelle and Natalie Hell's illuminating and scary deep dive into rural China's ills and stark inequality. No matter how bad you think it is, it's worse there---more like a developing country than a global superpower. 1/n

2/Rozelle rolled up his sleeves to understand the CN most only see from plane or train windows. Issues in health and education, bringing down human capital of 300m rural Chinese, could trap it in middle income status.

Think future like Mexico/Turkey now, not Korea/Taiwan

3/Most focus on impressive elite universities and high schools topping int'l rankings, but CN average education levels are abysmal.

Only 30% of China's working age pop completed high school--last place for all middle income countries, worse than many poor countries!

4/TIL a startling fact: school in CN through grade 9 became free & mandatory only in 2006! Even today high school is not free in CN! Want to go through grade 12? Pay fees of 10-15x incomes for poor rural areas. Instead they drop out to work unskilled jobs. Xi has promised to fix

5/No country has escaped middle income trap below 50% HS grad rates, and avg for successful countries (now high income) is 76%. Why? HS skills not important for repetitive assembly jobs, but w/o ability to learn & basic skills in math and reading, can't do more productive jobs
WORLD
Zoran Kusovac
Zoran Kusovac
@zkusovac
THREAD #Serbian #Orthodox #Church bishops start Conclave (#Sabor-Holy Assembly in #SPC parlance) to elect new #Patriarch, 3 months after previous died of #Covid. Election much more about politics than religion, mainly #Serbia #Kosovo relations but also #Russia Orthodox Church /2


2/ vs. #Ecumenical Patriarch of #Constantinople. Most of numerous traditional cleavages within SPC (Young Lions vs. Old Guards); Serbians vs. TransDrinians; ecumenicals vs. hardline Orthodox etc. will be irrelevant with only the split between Russian vs. Greek students, roughly/3

3/corresponding with main division: support for whatever "solution" President Vucic might propose to satisfy int'l demand to at least de facto recognize Kosovo vs. stubborn refusal to accept anything not in line with current Serbian constitution that says #KosovoJeSrbija. /4

4/Due to 3 decades of heavy politicking under 1 weak Patriarch (Pavle) & his insipid successor (Irinej), those who’d otherwise be God-obeying “good guys” are staunchly in Kosovo Status Quo camp, refusing any deal. Those bishops who were in bed with politicians & secret services/5

5/ now support “accommodation” with Kosovo. Voting system is peculiar: Conclave picks 3 eligible bishops (each needs to obtain simple majority of votes i.e. 23); names of top 3 are sealed & 1 is drawn. System was designed in Communist times to prevent manipulation. Both sides /6
WORLD
Phestos Tosin
Phestos Tosin
@phestostosin94
With historical Data and explanations, I will want to DISAGREE with what you said here ma'am Or at Least Reframe what you said because what you said can be used to refer to a lot of scenarios.

Who are the "Citizens of Nigeria" you claim are not ready because they are...
(/1)


Not demanding good governance?.

If by this you mean the Vast majority of Nigerians that are in the lower class should demand for good governance, then I hope you know this can never be effective.

Why?

It is virtually impossible for the lower class citizens to gather and...

Demand for good governance. What do they know that they want to demand? The few among them that are "enlightened" will have their voices drown out by the many that are not. I hope you know that there will always be the ignorant, evil men (hired assassin, political thugs) and also

Good men, the proportion of good men to the ignorants and evil men in this social class is low. Therefore l, gathering to something meaningful will be low.

How will they even gather? Through elections? I also hope you know that the wicked political leaders will not just fold...

Their arms and not defend their rulership from being overthrown. They will surely sow misinformation, spread lies aimed at misleading the masses. This particular social class, that are also numerous will be easy to swallow such lies and cajoled. Buhari was sold to us as a...
WORLD

You May Also Like

Formula 1
Formula 1
@F1
After 17 years and more than 300 races, it could be @alo_oficial's last F1 race on Sunday 😭 He's given us a lot over the years... including some superb GIFs!

Here we have a rare example of a GIF you can actually hear. TOMA. 💪


The Spanish Samurai


Never give up. 💪 #GraciasFernando


Winning is everything. #GraciasFernando
SPORT
Vibhu Vashisth
Vibhu Vashisth
@VIBHU_Tweet
AGAMA SHASTRA:THE SCIENCE BEHIND THE MARVELS OF HINDU ARCHITECTURE

Agama Shastra is a Sanskrit word that means the manual for worship, temple building, rituals etc in Hindu Tradition.From Sanskrit,agama means handed down by tradition and Shastra means a commentary or treatise.


Therefore, Agama Shastra is a collection of ideas that drafts the rules for worship, temple construction, spirituality and rituals. It has been a guideline for many Hindus from ancient times. It's a collection of Sanskrit, Tamil and Grantha scriptures that mostly contains...


...methods of temple construction, idol creation, philosophical doctrines and meditative practices. It came into being after years of assimiliation and from a variety of sources. Some parts of it are pre-vedic while some are post-vedic.


Hindu Temples are not just temples, they are the pride and identity of Hindus. They are the symbols of Hindu unity and their religious aspirations. Temples are the places of spiritual healing and are our connection with the creator almighty.


Temples are the priceless treasure of our History, Heritage ,Art & Architecture. Architecture that mesmerises and spell bounds you. And Agama Shastra is that very text which is responsible for such a mesmerising and spell binding quality and beauty of our Hindu Temples.
ALL
Advertisement
Janmajit Sinha
Janmajit Sinha
@Impregnable007
#Thread - 1/21

A story of a brave woman who let her "breast" cut to protect the life of Netaji Subhash Chandra Bose!

Neera Arya was born on March 5 1902 in Khekra Nagar, Uttar Pradesh in a distinguished & eminent businessman Seth Chhajumal's family. Since her childhood,


2/21
She was a true nationalist & always had a vision of becoming a part of the freedom fighter movement. She was also reportedly accused as an undercover by the British Govt.

That was the time when her father's business was flourishing in Calcutta, though his business was..

3/21
spread across the country but Calcutta was the center of his business and that was one of the reasons why her education was done in Calcutta. During that period of time, she had learned quite a few languages along with Bengali, Hindi, English.

4/21
Her father got her married to a CID Inspector "Shrikant Jairanjan Das" in British India but they were two different individuals, Neera Arya was a true nationalist but her husband was a true British servant. She was highly motivated & she had an urge of getting us freedom..

5/21
so she ended up joining the Jhansi Regiment in Azad Hind Fauz after the marriage. It was the regiment that the British always accused them of spying on British Govt.

It was the time when Neera's husband Jairanjan Das was given the responsibility to spy on Netaji Subhash..
CULTURE
Anu Satheesh
Anu Satheesh
@AnuSatheesh5
Thrikkangode Sree Randu Moorthy Temple
Ottappalam, Kerala. 🚩
#keralatemples

This is very unique temple as Shiva and Vishnu both are in the “linga” form in the same Garbhagriham. The Srikovil is in a circular pattern. Temple's Prathishta was done by Parasurama.


Mahadeva and Maha Vishnu in the same Srikovil is very rare Prathishta, but poojas are done separately Dhara is done to Maha Vishnu here. People suffering from “KAIVISHAM” and mental illness are fully cured on drinking a medicinal herb supplied by a nearby family here.


The root of the banyan tree around the Ayyappa Sannidhanam is said to have great powers for skin ailments.

Very ancient temple but was covered with forest for many years.
Later two persons Chakki and Chaathan, while cutting trees their axe hit on the nearby
@SriramKannan77


Vigrahams and it suddenly started bleeding. Later Devaprashnam was held and thus found out that these were murthy's of Shiva and Vishnu which was worshipped long back. And thus temple is constructed here.
Om Namah Sivaye
Om Namo Narayanaya
🕉🙏🕉
ALL
Will Buxton
Will Buxton
@wbuxtonofficial
The Haas / Force India argument is fascinating, and the decision of the stewards may still have consequences. The first key finding is that the stewards ruled Racing Point Force India to be a valid constructor. That means that it builds its own cars.

Haas had argued that the cars had been designed by Force India, but as Haas knows only too well, "outsourcing" is legal. The stewards decided that "there is no regulatory support for the argument that Outsourcing of Listed Parts cannot come from a former or excluded team."

In determining this, the stewards also came to the following conclusion: "In relation to the submission by the Racing Point Force India F1 Team that it is not a new team, the Stewards decide that the Racing Point Force India F1 Team is indeed a new team."

This will have a big knock on effect for Haas in its continued arguments over the rights of RPFI as relates to its eligibility and rights under the complex payments structure. Haas has argued all along that RPFI should be treated as a new team and tread the same path that it did.

TLDR? Haas lost the fight but may have won the war. In having its argument that Racing Point hadn't designed their own car thrown out, they gained clarification that RPFI was a new team.
SPORT