Economic Dispair Makes Suicide Rate Explode in Greece

By ERIK KIRSCHBAUM | REUTERS | APRIL 28, 2012

On Monday, a 38-year-old geology lecturer hanged himself from a lamp post in Athens and on the same day a 35-year-old priest jumped to his death off his balcony in northern Greece. On Wednesday, a 23-year-old student shot himself in the head.

In a country that has had one of the lowest suicide rates in the world, a surge in the number of suicides in the wake of an economic crisis has shocked and gripped the Mediterranean nation – and its media – before a May 6 election.

The especially grisly death of pharmacist Dimitris Christoulas, who shot himself in the head on a central Athens square because of poverty brought on by the crisis that has put millions out of work, was by far the most dramatic.

Before shooting himself during morning rush hour on April 4 on Syntagma Square across from the Greek parliament building, the 77-year-old pensioner took a moment to jot down a note.

“I see no other solution than this dignified end to my life so I don’t find myself fishing through garbage cans for sustenance,” wrote Christoulas, who has since become a national symbol of the austerity-induced pain that is squeezing millions.

Greek media have since reported similar suicides almost daily, worsening a sense of gloom going into next week’s election, called after Prime Minister Lucas Papademos’s interim government completed its mandate to secure a new rescue deal from foreign creditors by cutting spending further.

Some medical experts say this form of political suicide is a reflection of the growing despair and sense of helplessness many feel. But others warn the media may be amplifying the crisis mood with its coverage and numbers may only be up slightly.

“The crisis has triggered a growing sense of guilt, a loss of self-esteem and humiliation for many Greeks,” Nikos Sideris, a leading psychoanalyst and author in Athens, told Reuters.

“Greek people don’t want to be a burden to anyone and there’s this growing sense of helplessness. Some develop an attitude of self-hatred and that leads to self-destruction. That’s what’s behind the increase in suicide and attempted suicide. We’re seeing a whole new category: political suicides.”

Police said the geology lecturer, Nikos Polyvos, who hanged himself, was distraught because a teaching job offer had been blocked due to a blanket hiring freeze in the public sector.

NATION IN SHOCK

Experts say the numbers are relatively low – less than about 600 per year. But increases in suicides, attempted suicides, the use of anti-depressant medication and the need for psychiatric care are causing alarm in a nation unaccustomed to the problems.

Before the financial crisis began wreaking havoc in 2009, Greece had one of the lowest suicide rates in the world – 2.8 per 100,000 inhabitants. There was a 40 percent rise in suicides in the first half of 2010, according to the Health Ministry.

There are no reliable statistics on 2011 but experts say Greece’s suicide rate has probably doubled to about 5 per 100,000. That is still far below levels of 34 per 100,000 seen in Finland or 9 per 100,000 in Germany. Attempted suicides and demand for psychiatric help has risen as Greece struggles to cope with the worst economic crisis since World War Two.

Nikiforos Angelopoulos, a professor of psychiatry, has a busy psychotherapy practice in an upmarket Athens neighborhood. He said the crisis has exacerbated the problems for some already less stable people and estimates that about five percent of his patients have developed problems due to the crisis.

“We’re a nation in shock,” he said, even though he suspected that it was the media coverage of suicides that had increased dramatically rather than the actual numbers of suicides. He nevertheless says the crisis is behind a notable rise in mental health problems in Greece.

“I had one patient who came in with a severe depression – he owns a furniture making company that got into financial trouble and he had to lay off 20 of his 100 workers,” he said. “He couldn’t sleep and couldn’t eat because of that. He said his good business was being ruined and he couldn’t cope anymore.”

The furniture maker spent four months in therapy and was also helped by anti-depressants, Angelopoulos said.

“He’s better now. He realized what happened just happened. But there are many others who are unstable or psychotic to begin with and the crisis is increasing their anxiety and insecurity.”

Angelopoulos, 60, has also suffered himself because about 20 percent of his patients can no longer afford his 100 euro ($130) per hour sessions. Some have asked for a half-price discount while others tell him they simply can’t afford to pay anything.

“I never turn people away,” he said. “If a patient says to me ‘I have no money’, I couldn’t tell them to go away. I tell them okay you don’t have to pay now but remember me later.”

HAPPY GREEKS?

There are several possible explanations for Greece’s low suicide rate that go beyond the fact that the country has an abundance of sunshine and balmy weather.

To avoid stigmatizing their families, some suicidal Greeks deliberately crash their cars, which police often charitably report as accidents. Families often try to cover up a suicide so their loved ones can be buried because the Greek Orthodox church refuses to officiate at burials of people who commit suicide.

Another important factor behind the low suicide rate is that Greeks have extremely close knit families as well as a highly communicative and expressive culture.

“Greece is a country where everyone will talk to you,” said Sideris, the Athens psychoanalyst. “You’ll always find someone to share your suffering with and someone’s always there to help.

“It’s not only the good weather. It’s the powerful network of support that has made the suicide rate in Greece so low. It’s still there but this crisis is still too much for some people.”

Many Greeks have also not lost their sense of humor.

Dimitris Nikolopoulos, a 37-year-old salesman, laughed at the idea that the suicide rate was so low because Greeks are well-adjusted and a generally happy people.

“Greeks used to be very happy people because we were living off money that didn’t belong to us,” he said with a wry smile. “But sometimes you have to face reality. It wasn’t our money.”

More money for Banks as BoE keeps interest rates at 0.5%

AGENCE FRANCE PRESSE | APRIL 18, 2012

Bank of England policymakers all voted in favour of holding interest rates at a record low earlier in April, while one member called for more stimulus cash, the BoE said on Wednesday.

Minutes from the central bank’s Monetary Policy Committee (MPC) meeting on April 4-5 showed that the nine policymakers voted to keep the key lending rate at 0.50 percent, where it has stood since March 2009.

The policymaking panel meanwhile voted 8-1 at the same meeting in favour of maintaining the size of the bank’s asset purchasing programme at £325 billion (388 billion euros, $514 billion).

One member, David Miles, voted for the second month to increase the so-called quantitative easing (QE) programme by an additional £25 billion.

Under QE, the central bank creates new cash that is used to purchase assets such as government and corporate bonds in the aim of giving a boost to lending and economic activity.

“For most members, there was no sufficient reason to change either bank rate or the quantity of asset purchases,” the minutes read.

“Moreover, for them, it seemed sensible to let the current programme of asset purchases run its course while coming to a view on medium-term prospects in the context of the May forecast round.

“For one member, the balance of risks continued to warrant an expansion of the asset purchase programme this month, although the decision was finely balanced.”

Libya: Oil for Blood

By ADRIAN SALBUCHI | RT | APRIL 13, 2012

Last year NATO countries bombed Libya, demanding “democracy” in the country. But now it’s clear it was all about oil and it’s not like the Americans and Brits are going to be democratic about it, and share those spoils equally with France and Italy.

So… oil giants Total from France and ENI from Italy are just going to have to wait in the sidelines while the hungry American and British big boys take their juicy oil slices first… ExxonMobil, Chevron, Texaco, BP, Shell…

It’s no surprise then to read in The Wall Street Journal that the US Securities & Exchange Commission (SEC), together with the puppet Libyan “authorities” are launching “investigations” into both companies’ “financial irregularities” in their shady dealings during the forty-two years of Gaddafi’s power. Now who would have imagined this! An Italian oil company involved in kick-backs? Corruption at the highest echelons of the French oil industry?!? Tsk, tsk!!! Unheard of…! The US and UK would never do something like that!! Just ask Enron, ask Halliburton, ask BP…

Clearly, major oil companies will now be judged on how close or how far they were from the Gaddafi’s, and on how much their respective countries contributed to last year’s war effort. Perhaps even on how much and how far and wide they shared their huge ill-obtained profits. It seems that scorecards must now be completed…

It’s worth remembering that at the height of the Libyan fighting last year, the “rebels” found the necessary time, between their “freedom fighting” shifts, to set up a new national oil company. As Bloomberg reported on 22nd March 2011, “The Transitional National Council released a statement announcing the decision made at a March 19 meeting to establish the “Libyan Oil Company as supervisory authority on oil production and policies in the country, based temporarily in Benghazi, and the appointment of an interim director general” of the company.”

And just as big oil and big finance always dance together, that report then went on to explain that “The Council also said it “designated the Central Bank of Benghazi as a monetary authority competent in monetary policies in Libya and the appointment of a governor to the Central Bank of Libya, with a temporary headquarters in Benghazi.”

Like Romeo and Juliet, Tristan and Isolde, or Abelard and Eloise, Oil and Money are probably the West’s most universal and paradigmatic duo. Their love affair has been going strong for many decades.

Oil is a mighty powerful global business. Oil companies can make or break governments and entire countries. Nationalizing a foreign oil company like Iran did in the early fifties can put the CIA and MI6 spy agencies into full-gear ousting democratically elected governments and replacing them with “more suitable leaders’.

Trading oil in any currency other than the US Dollar as Saddam Hussein dared to do in November 2002 can get you invaded just a few months later. Even weak Argentina’s finger-pointing at illegal British oil escapades in the Falkland Islands resulted in the Royal Navy dispatching super destroyers and nuclear subs to the region…

Libya is the world’s 9th largest oil producing country and holds Africa’s largest oil reserve. Gaddafi was planning to introduce a new currency for Libyan and regional oil: the Gold Dinar which, contrary to the US Dollar, would have had true intrinsic value. Gaddafi’s central bank, in turn, was fully independent of the global financial usury-based system presently in global free-fall. Gaddafi was using oil revenues for his own people and not for the US/UK/EU/Israeli war efforts in the Middle East and further afield.

So, when the Persian Gulf became the very, very hot spot it is today, the global oil cartel together with the mega-bankers who shuffle those trillions upon trillions of Petro-Dollars all over the world, had to make sure that their respective governments would put their military on red-alert, as the oil giants scrambled for new sources…

The focus is increasingly on oil fields lying in “kinder, gentler” parts of the world: the Falkland Islands, the Brazilian Coasts, and Libya that lies smack in the middle of that easy-to-attack “it’s our-bloody-Mediterranean-Sea” North African Coast.

Last year’s destruction of Libya was a reflection of just this type of complex behind-the-scenes engineering of all these key oil, financial, military, media and political players. It’s the kind of Real News that seldom if ever hits the headlines… just because it is the Real News!

During the better part of last year until the public execution of Muhamar Gaddafi by the Western Power’s proxies inside Libya – i.e., mercenaries, criminals, thugs and CIA/MI6/Mossad agents, aka “Freedom Fighters” – the Western media repeated time and again how very bad Gaddafi had suddenly become overnight; how the poor Libyans were clamouring for “democracy”; and how the heroic Libyan “freedom fighters” based, armed, trained and financed in Benghazi were battling to “liberate” Libya and impose Clintonite “democracy” and “human rights”. Actually these “freedom fighters” overshot their runway: now that Libya is finally “free”, they’re asking for the Eastern Cyrenaica region to secede from the rest of the country.

Was civil war part of the West’s plan for Libya? Last year, after securing full UN backing via Resolution No. 1973 allowing NATO air strikes to devastate the country and impose the most violent regime change seen in recent times, NATO-backed thugs have plunged the country into chaos.

As the “Libya Business News” publication mentions on Tuesday, “About 3,000 people gathered in Benghazi last month to announce that Barca (Cyrenaica) was an autonomous region within a federal state. Barca is at the centre of Libya’s oil industry, with two thirds of production and three quarters of reserves there.” It is one of the three historic regions into which the country is divided. And while Barca has the most oil, the other two is home to two thirds of the population. So the question now is how the rich revenues from rich oil reserves will be “democratically” distributed among the population.

Adrian Salbuchi is a political analyst, author, speaker and radio/TV commentator in Argentina. www.asalbuchi.com.ar

17 Million Unemployed in Euro zone

By ROBIN EMMOTT | REUTERS | APRIL 2, 2012

Unemployment in the euro zone reached its highest level in almost 15 years in February, with more than 17 million people out of work, and economists said they expected job office queues to grow even longer later this year.

Joblessness in the 17-nation currency zone rose to 10.8 percent – in line with a Reuters poll of economists – and 0.1 points worse than in January, Eurostat said on Monday.

“We expect it to go higher, to reach 11 percent by the end of the year,” said Raphael Brun-Aguerre, an economist at JP Morgan in London. “You have public sector job cuts, income going down, weak consumption. The economic growth outlook is negative and is going to worsen unemployment.”

February’s level – last hit in June 1997 – marked the 10th straight monthly rise and contrasts sharply with the United States where the economy has been adding jobs since late last year.

Economists are divided over the wisdom of European governments’ drive to bring down fiscal deficits so aggressively as economic troubles hit tax revenues, consumers’ spending power and business confidence which collapsed late last year.

Separate data released on Monday showed manufacturing activity in the euro zone shrank for an eighth successive month in March, providing further evidence for Brussels’ forecast that euro zone output will shrink 0.3 percent this year.

Despite the gloomy economic vista, the European Central Bank is expected to hold interest rates at 1 percent at its monthly meeting on Wednesday, as rising oil prices keep inflation above its 2 percent target.

“With inflation remaining stubbornly high throughout the euro zone, there is very little hope of a consumer recovery,” said Jennifer McKeown, an economist at Capital Markets.

Read Full Article →

Absurd: “Unemployment is good for Economy”

Valerie Jarret, a White House senior adviser kept a straight face while explaining to a crowd  in North Carolina how unemployment welfare checks are good for the economy.

by Daniel Halper
Weekly Standard
February 22, 2012

This evening, speaking at North Carolina Central University in Durham, North Carolina, White House senior adviser Valerie Jarrett said that folks getting and spending unemployment checks is a healthy thing . . . because it stimulates the economy.

“Even though we had a terrible economic crisis three years ago, throughout our country many people were suffering before the last three years, particularly in the black community,” Jarrett said. “And so we need to make sure that we continue to support that important safety net. It not only is good for the family, but it’s good for the economy. People who receive that unemployment check go out and spend it and help stimulate the economy, so that’s healthy as well.”

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