Differing school of thoughts could singularize a major into Asia’s future or a mojo out the technology-driven economic slums.
By Ellysutra Sulaiman
Come Sunday, Greece’s stand to bailout from the EU will surface, either on the basis of available options to refinance the €317 billion debt, or succumb to considerations aligning an economy by its own foreign currency.
Greek Prime Minister Alexis Tsipras is under great pressure given the 2 days to adjust and alter decisions into the much anticipated weekend’s referendum.
After the stepping down of ex-Finance Minister Yanis Varoufakis, the successor 55-year old Euclid Tsakalotos takes over the mission impossible of reigniting an economy in recession, reconsidering the EU/IMF $8.9bn bailout program and reengineering the socio-political infrastructure – a measure which includes tax increments, pension schemes and tourism businesses.
The latest development made by the latter is counting on Washington’s pressure to debt relief, while the issue of debt sustainability is still on the trailer cue cards.
Greece is a 11.12 million populated Mediterranean country with a long, elaborate Renaissance.
Urging on optimistic efforts 6-7 years further into problems that persisted banking state of emergency ahead of times – for the past five-month deadlock between Greece and its lenders – sees no sure-fire ‘Grexit’ from the Eurozone.
Germany’s Prime Minister Angela Merkel, who is apparently aware of her country’s credit of €68 billion – the biggest sum borrowed to Greece – whilst in representing the EU leaders has demonstrated serious precautions before the report releases on Sunday.
Audible proposals kickstarting from escalation of vested interests to proliferation of crises could otherwise plausibly commence, according to observers.
From the business and trade point of view, alternating factors could initiate the doubling of price earnings and illustrations via “incentivized investigatives”, a furtherance to the policy of full, surmounting debts disclosures.
Feasibly, a legitimate deal surpassing an intact set of EU banking standards and practices, could face rates respite due to the dwindling state of Greece’s bailout resources.
Distributary channels experiencing increasing trade tariffs pre-delivery of operational quotas, points to the likelihood of closing trades limited within Eurozone – a hint to compromised goods/service price sensitivities – despite lack of import/export statistics.
One could consider, by itemizing flexibly, avoidable trade components into the total economic quotation, the ‘sense of urgency’ stipulated by EU’s regional businesses may be aggravated – hence denominating empirical trades.
As the Greece turmoil led to global stock markets fluctuations across every inherent fundamentals, a few experts still view a 50-50 chance for European Union’s political recovery before October this year.
Earlier in April 2015, the 26th ASEAN Summit held in Malaysia had hosted to 10 member states in high-key meetings that presided issues on the impact of financial crisis, economic slowdown, trans-border security and global terrorism; amongst others.
Assigning references to various roles and initiatives to be undertaken, the senior officials contemplated upon a systems parody by the common shared responsibility and problem solving functions, evidently displayed when the region was shaken by the Rohingya refugees issue, 1MDB scandal and repercussions from impact of the Greece banks bailout.
According to observers, those functions equate market support measures, into the underlying and entrenching subsidiary platforms that runs in parallel to the global standards of a sustainable economy.
After all this time, international trade is still into the engagement of rescuing eroded interests due to unnecessary cuts into trade surplus, hence the cast to fresher perspectives for strategic purposes of spreading investment risks.
Hence the pre-occupation by regional business solicits as safety measures, in addition to micro-management costs of contracting and procurement applications such as Laos, Myanmar, Cambodia, Vietnam, Bangladesh, Nepal, Thailand, Philippines and Papua.
Primarily, the novelty of schooling business bilingualism at progressive rates for common, daily use – the challenge remains ahead on managing an emerging Asia’s mutual future of fixed and variable assets – considering past showings of employment rates and subsidiary job search services, technological thrust ratio and process costings/procedures.
And time marches on for Asia in scaling new heights into its own uncertain future, with or without socio-economic catalysts.
Ellysutra Sulaiman is an independent industry commentator and the author of adventure novels ‘Aces High @ 23 Wall Street’ and ‘F-A-M-E ‘ze Great’. He has worked for Singapore Police Force, Singapore International Monetary Exchange, Singapore Exchange, Mediacorp Radio and Phillips Securities.