Saturday, May 31, 2025

Polaris of Enlightenment

Argentina’s BRICS rejection: A gamble amid economic turmoil

Published 29 November 2023
– By Sukanya Saha

In the labyrinth of Argentina’s economic woes, President Javier Milei’s recent rejection of BRICS membership adds a new layer of complexity to the nation’s uphill battle against inflation, dwindling foreign reserves, and a looming debt crisis.

Argentina’s economic narrative reads like a tale of multiple currencies and a precarious financial tightrope. With inflation rates soaring well above 140 per cent, and an official exchange rate at odds with the elusive “blue dollar,” Argentina’s economic landscape is a patchwork of uncertainty.

The recent decision to pay international debts in Chinese yuan, leveraging a standing swap line with China, reflects the urgency and creativity required to navigate this financial maze.

As Argentina grapples with a severe shortage of foreign exchange, exacerbated by drought conditions and a poor harvest, the rejection of BRICS+ membership raises eyebrows. The BRICS alliance, with its economic prowess and diverse resources, could potentially offer Argentina a lifeline to weather the storm.

One of the primary advantages of BRICS+ membership lies in the access to a diverse array of markets and resources. For a nation like Argentina, grappling with inflation and a shortage of foreign exchange reserves, the benefits of aligning with a coalition of emerging economic giants are hard to ignore. These nations collectively represent a vast consumer market and a rich tapestry of industries, offering Argentina the prospect of new trade avenues and investment opportunities.

President Milei’s libertarian ideals emphasise a minimalistic approach to government intervention, but the rejection of BRICS+ raises questions about the administration’s commitment to fostering economic growth. In an era where economic interdependence is the norm, opting for isolation might hinder Argentina’s ability to attract foreign investment and forge mutually beneficial partnerships.

It’s also crucial to consider the geopolitical chessboard. In rejecting BRICS+, Argentina may find itself sidelined in discussions that shape the rules of the global economic game. As this alliance solidifies its influence, decisions made within its confines could impact trade agreements, currency valuations, and economic policies worldwide. By refusing a seat at this table, Argentina may inadvertently forfeit a voice in shaping the rules that govern its economic destiny.

However, President Milei’s administration appears to be steering towards economic autonomy, even as the nation faces the pressing need for external support.

The urgent need for Argentina is crystal clear: reduce inflation. Yet, the path to achieving this goal is riddled with challenges. The central bank, burdened with short-term, peso-denominated treasury bills and a precarious interest income scenario, must navigate the balance between controlling inflation and preventing a currency freefall.

The question of debt is paramount. Argentina’s outstanding international bonds, valued at a mere 30 cents on the dollar, signal an impending restructuring. While the global market might not be shocked by Argentina’s restructuring, the country’s $45 billion debt to the International Monetary Fund (IMF) underscores the critical importance of a realistic repayment plan.

Argentina’s actions and policies resonate far beyond its borders, influencing the IMF’s lending approach and potentially setting legal precedents in sovereign debt enforcement.

The real-world experiment lies in the hands of the Argentine president. If Milei’s proposal to dollarise the economy becomes reality, it could redefine the understanding of a country’s debt carrying capacity. Dollarisation may offer a semblance of stability, but the risk of a deep default looms large, turning all domestic debts into a claim on Argentina’s non-existent dollar reserves.

In rejecting BRICS+, Argentina appears to be charting its own course. Whether this bold move proves to be a masterstroke or a miscalculation remains to be seen. As the world watches, Argentina stands at the intersection of economic uncertainty and the quest for autonomy, navigating uncharted waters with the hopes of finding a solution that will reshape its destiny.

Sukanya Saha is a contributing editor at The Nordic Times. Based in New Delhi, she is an accomplished journalist who has previously worked with several major Indian media outlets such as NDTV, India Today, IANS, and Jagran English. Currently, she is associated with Hindustan Times. In 2022, she topped the BRICS International Journalism Programme from India. Committed to understanding the complex dynamics that shape our world, Sukanya's passions range from world politics to science and space exploration.

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Jewish Power leader: “Time to go full force into Gaza”

The situation in Gaza

Published yesterday 13:48
– By Editorial Staff
Ben-Gvir has long been identified as one of Israel's most belligerent voices - and wants Gaza completely emptied of Palestinians.

Israel’s invasion and bombing of Gaza have been described as among the most extensive in modern times and condemned worldwide because of the high number of civilian casualties.

However, the country’s far-right security minister, Itamar Ben-Gvir, has long been one of the strongest voices calling for further escalation of the situation – now he is insisting that it is time for Israel to “go in with full force” into the already bombed-out territory.

Ben-Gvir, who also leads the Jewish Power (Otzma Yehudit) party, believes that Israel should take control of both Gaza and the West Bank and has been criticized over the years, even in Israel, for praising Jewish terrorists and mass murderers.

Itamar Ben-Gvir also caused a major uproar when he attended the so-called “wedding of hate” in 2015, where guests celebrated the murder of a Palestinian family in the village of Duma. At the wedding, participants waved weapons and stabbed knives into a picture of the 18-month-old boy who was killed in the arson attack – an act that Ben-Gvir had previously defended.

The number of Palestinians killed during Israel’s invasion and bombings is unclear – but is estimated to be between 40,000 and hundreds of thousands.

However, given that Hamas has said that the new US-backed ceasefire proposal does not meet their demands, Ben-Gvir believes that too much caution has been exercised so far and that it is now time to seriously use military force.

Mr. Prime Minister, after Hamas rejected the deal proposal again – there are no more excuses, Ben-Gvir said on his Telegram channel.

– The confusion, the shuffling and the weakness must end. We have already missed too many opportunities. It is time to go in with full force, without blinking, to destroy, and kill Hamas to the last one.

Ben-Gvir’s definition of terrorists who must be eliminated includes, according to him, not only combatants but also all Palestinians who are considered to sympathize with the Islamist group.

He has also previously argued that it is difficult to determine which Palestinians belong to Hamas and which do not, and he has repeatedly argued that Gaza should be permanently emptied of Palestinians.

Australian whistleblower loses court appeal – remains in prison

Published yesterday 10:42
– By Editorial Staff
The documents leaked to the press by McBride showed, among other things, how Australian special forces executed unarmed Afghans.

Australian whistleblower David McBride will not have his prison sentence reduced. The Australian Capital Territory Court of Appeal ruled on Wednesday, rejecting McBride’s attempt to appeal the five-year and eight-month sentence he was handed down last year.

McBride, a former army lawyer, pleaded guilty to stealing and leaking classified documents about war crimes committed by Australian special forces in Afghanistan between 2005 and 2016. This information was then used as the basis for ABC’s high-profile investigation, The Afghan Files, in 2017.

In his appeal, McBride claimed that he had acted in the public interest, citing the oath he had sworn as a member of the military. However, the court rejected this argument and ruled that the oath actually obliged him to act “according to the law“.

– It is my own conscience and the people of Australia that I answer to. I have kept my oath to the Australian people, McBride said in a statement through his lawyers.

– People who have stood up for what is right in history have suffered far more than I have. … It is a great privilege to sacrifice for the country and I am confident the outrage produced by this judgment will be felt by all Australians. I will not give up.

“It can’t be illegal to tell the truth”

McBride can apply for parole after serving two years and three months, which means August 2025 at the earliest. However, his lawyer Eddie Lloyd says he will probably not be able to begin parole hearings until August 2026.

The decision has drawn criticism from rights groups and lawyers, who point out that McBride is the only person so far to be jailed over allegations of war crimes in Afghanistan. A 2020 military report recommended that 19 soldiers be investigated for 39 cases of suspected war crimes, but only one – Oliver Schulz – has been charged so far.

Australia’s most decorated soldier, Ben Roberts-Smith, recently lost a civil case that found he had killed four unarmed Afghans in violation of the laws of war, but he has not yet been charged.

It cannot be a crime to expose a crime. It cannot be illegal to tell the truth”, McBride’s lawyers wrote, announcing that they will now take the case to Australia’s highest court.

“Those who committed the crimes are walking free”

The lawyers are also calling on Justice Minister Michelle Rowland to pardon McBride. Her office declined to comment, but said it was considering further protections for whistleblowers in the public sector.

– David should never have spent a single day behind bars. Yet as we speak, he is returning to a cold, dark prison cell – preparing for winter in a concrete jungle – while those who committed crimes walk free and those who covered up those crimes have been rewarded with medals and promotions, Lloyd said.

The Nordic Times has previously reported on McBride’s case in connection with his prison sentence.

Merz: Defiant EU nations could be hit with economic punishment

The globalist agenda

Published 28 May 2025
– By Editorial Staff
Merz at the World Economic Forum in Davos earlier this year.

German Chancellor and former BlackRock executive Friedrich Merz is threatening to support a freeze on EU funding for Slovakia and Hungary if the countries continue to oppose EU leaders’ sanctions policy against Russia.

On Monday, Merz removed restrictions on Ukraine’s use of German long-range weapons deep inside Russia, a decision the Kremlin described as a “serious escalation”. Slovakia and Hungary have also taken a critical stance toward the West’s policy in the Ukraine war.

However, Merz does not appreciate the criticism and issued a clear warning to Bratislava and Budapest, stating that EU countries considered to be in breach of the rule of law could face infringement proceedings.

– Withdrawing European funds is always an option… If it is necessary, then we will deal with it, he added.

He also emphasized that “we cannot allow the decisions of the entire EU to depend on a small minority” and hinted that there could be “clearer words and possibly also harder conflicts” if the two countries do not change course.

“The end of democracy in Europe”

Slovak Prime Minister Robert Fico and Hungarian Prime Minister Viktor Orbán have long criticized EU leaders for prolonging the war with military and economic support for Kiev without any visible progress.

Fico, who survived an assassination attempt in May 2024, has taken a more neutral stance than his predecessors since coming to power in 2023. Under his leadership, Slovakia has reduced its military support for Ukraine and promised to veto new EU sanctions that could damage the country’s economy. Fico has also visited Moscow twice since December to meet with Russian President Vladimir Putin, which has sparked anger and criticism from both the EU and NATO.

The Slovak prime minister rejected Merz’s threat to withdraw funding and called the attack unacceptable.

– If someone wants to push a policy where only one opinion is allowed, that’s the end of democracy in Europe, he told reporters during a visit to Armenia on Tuesday.

“Not the path to unity and cooperation”

He argued that a policy where only one opinion is allowed is as dangerous for Europe as a third world war, and that German leaders must accept that not everyone shares their views.

Slovakia is not a little schoolchild that needs to be lectured. Slovakia’s sovereign positions do not stem from vanity, but are based on our national interests“, Fico stated, continuing:

When you hear such aggressive remarks, it feels like we are not heading into good times. The words of the German Chancellor are absolutely unacceptable in modern Europe. If we don’t obey, are we to be punished? This is not the path toward cohesion and cooperation”.

French parliament approves law legalizing euthanasia

Published 28 May 2025
– By Editorial Staff
In the 21st century, several European countries have chosen to legalize euthanasia or assisted suicide - and now France is next.

The French parliament has voted to legalize active euthanasia, allowing healthcare providers to help terminally ill patients end their lives.

The bill was approved by the National Assembly with 305 votes in favor and 199 against, while a separate law on the right to palliative care was passed unanimously.

The new law, called the “law on end of life”, is described by the government as “an ethical response to the need to support the sick and the suffering“. It allows medical teams to decide whether a patient can have access to a lethal substance, either through self-administration or with the help of healthcare professionals.

To qualify, the patient must be over 18, have French citizenship or residency, and suffer from a “serious and incurable, life-threatening, advanced or terminal illness” that causes “constant, unbearable physical or psychological suffering” without relief. The patient must also express their wishes freely and in an informed manner.

The proposal was supported by President Emmanuel Macron’s centrist MPs and the left, while conservative and nationalist parties opposed it.

Socialist MP Stéphane Delautrette called the decision “historic” and compared it to the introduction of abortion rights or the abolition of the death penalty.

– The French people are ready for this, and we owe them this rendezvous with history.

May come into force next year

However, Patrick Hetzel (Les Républicains) was not nearly as enthusiastic, warning of the risks of allowing assisted suicide.

– It is illusory to and even dangerous to even think of debating a legalization of euthanasia without having first fully deployed proper access to palliative care, he argued.

France has previously allowed passive euthanasia and deep sedation, but active euthanasia required travel to neighboring countries such as Switzerland. Although the parliament has given its approval, the law must now be reviewed by the Senate and return to the National Assembly, and is expected to come into force sometime next year at the earliest.

In countries such as the Netherlands, Belgium, Luxembourg, Spain, and Portugal, active euthanasia is already permitted, and in Germany and Switzerland, physician-assisted suicide is permitted. In the UK, politicians will soon take a position on a bill to allow euthanasia.

Critics argue, however, that assisted suicide and active euthanasia risk undermining human dignity and opening up gray areas where vulnerable people, such as the elderly, the sick, or the disabled, may feel pressured or compelled to end their lives.

Risks becoming a quick and cheap solution

There are also warnings that legal certainty is lacking and that end-of-life care should be strengthened instead. Several experts have pointed out that access to palliative care is uneven and that euthanasia risks becoming a quick and cheap solution instead of offering relief, care, and support to those who need it most.

In several countries, euthanasia is not only provided to people with incurable and painful physical conditions, but also to those suffering from mental illness if this is considered to cause unbearable suffering.

Critics have pointed out, however, that mental illness is often treatable and that people in mental crisis need care and help to get better, rather than help to end their lives.

Experts have also emphasized that people suffering from deep depression or similar severe mental illness are not capable of making life-and-death decisions on their own, and that there is a real risk that mentally ill and highly vulnerable individuals will be pressured or persuaded to believe that death is the best option for them.

In Canada, where the rules are among the most liberal in the world, medically assisted dying accounted for nearly five percent of all deaths in the country in 2023.

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