The euro will be stuck with austerity unless it learns to embrace democracy | Aditya Chakrabortty

If Europe’s institutions remain unanswerable to its citizens, Greece will be the beginning of the end

The challenge facing Europe today goes far wider and deeper than how to handle a small bankrupt country holding only 2% of the EU’s population. No, the bigger question is this: can Europe handle democracy, however awkward and messy and downright truculent it may be? The answer to that will probably decide whether the euro lives on as the currency of 19 nations.

Say what you like about the referendum held in Greece this Sunday, it was democracy at its most raw. Yes, the ballot question was impenetrable, and Alexis Tsipras, the Greek prime minister, came close to urging voters to say oxi (no) to a deal he’d pretty much said nai (yes) to just a couple of days earlier. Yet in the face of the country’s political and media establishment warning Greeks to vote yes – echoing every major European leader (and quite a few faceless ones) – and the shock-and-awe tactics of the European Central Bank in pulling the plug on Greek banks, the country still delivered a loud no to austerity, troika-style.

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NJ Assemblyman Proposes Student Loan Lottery To Battle Debt Problem

TRENTON, N.J. (CBSNewYork) — A New Jersey lawmaker is proposing a lottery to help people pay off their student loans.

Assemblyman John Burzichelli (D-Gloucester) said 70 percent of New Jersey students who graduated in 2013 had some sort of debt — the fourth highest rate in the nation.

“The burden of debt that graduates are facing is at an all-time high,” Burzichelli told 1010 WINS. “Student debt is crushing graduates. It’s causing them to change the kind of decisions they make once they graduate. And I’m not suggesting that having this kind of lottery solves all those problems — it doesn’t — but it would help somem and any help is welcome until this bigger issue is tackled.”

Under the bill, a private company would facilitate the lottery and the New Jersey Lottery Commission would conduct the drawings.

Tickets would cost no more than $3 each and be available online.

Winnings would go exclusively to paying off college debt.

“The proceeds do not come to the individual. They go directly to whoever holds the loan, whether it be a lending institution or a university,” Burzichelli said. “So the winner never really sees a check, but their student loan gets satisfied.”

There is interest in the proposal, but Burzichelli said the details are still being worked out.

“It seems like a novel approach. It seems like if properly conducted that it could help some people,” Burzichelli said. “There’s certainly a lot of interest in it, and we have a lot of work to do on the details to figure out where it would fit and how it would work, but it’s a worthwhile conversation because any opportunity that a person has to pay off their student loan and that heavy debt I think would be welcomed.”

Under the legislation, if the winnings exceed the amount of the debt, others would receive the balance.

Twenty percent of the pot would go to the private company running the lottery.

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Bag of the Week: Givenchy New Line Lizard Shoulder Bag


Bag: Givenchy New Line Lizard Shoulder Bag

Price: $5,450 via Bergdorf Goodman

Why It’s the Bag of the Week: Givenchy’s newest design gives the brand a position in the popular flap shoulder bag category, and it does it with a bag that looks like no one else’s. It’s particularly gorgeous in stark white lizard.

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Manu Ginobili to Re-Sign with Spurs: Latest Contract Details, Comments, Reaction

After 13 illustrious seasons with the San Antonio Spurs, veteran guard Manu Ginobili announced Monday he has decided to return for at least one more:

Adrian Wojnarowski of Yahoo Sports reported the two sides are still negotiating the terms of Ginobili’s contract.

Ginobili, who will be 38 when the 2015-16 season begins, clearly isn’t the same player he once was. He is a two-time All-Star selection, but he has played almost exclusively in a reserve role for the past four campaigns.

The lefty didn’t start a single game in 2014-15, but he was still a vital part of the squad as he chipped in over 10 points, four assists and three rebounds per contest.

Even though his contributions were important, Ginobili seemed quite uncertain about whether he would return for another season or retire after the Los Angeles Clippers eliminated the Spurs from the playoffs.

The four-time NBA champion wrote a column for in which he detailed the internal struggle he was dealing with (h/t RJ Marquez of

Pop [head coach Gregg Popovich] told us that he wanted Tim [Duncan] and me back next season. Those words make things very difficult. Honestly, if the franchise said they didn’t want me or it was time to rebuild and wanted a younger team, that would have made things very easy for me.

At times I say, “How am I not going to play a little more?” There are other times I don’t even want to see a basketball. I’ll wait a month and see how I feel. If I feel like a former player or not.

In addition to that, Ginobili conceded there were times this past season when he wondered if he should still be playing, according to’s Ramona Shelburne:

There is no question that it will be a strange day when the Spurs’ Big Three of Ginobili, Duncan and Tony Parker ceases to exist, something Zach Lowe of Grantland touched on following Ginobili’s announcement:

They will stay together for at least one more season, but it is obvious that changes are on the horizon. The Spurs have started to become Kawhi Leonard’s team, and it is only a matter of time before the youth movement begins.

Until that happens, the Spurs will continue to lean on Ginobili as a source of offense in hopes that he can help bring one more title to San Antonio.

Follow @MikeChiari on Twitter.

FIFA bans former 2018-2022 WCup inspector for 7 years (Yahoo Sports)

FILE - In this Jan. 28, 2015, file photo, Harold Mayne-Nicholls, speaks during a news conference in Santiago, Chile. FIFA has banned the official it chose to inspect 2018 and 2022 World Cup hosting candidates for breaking ethics rules. FIFA says Harold Mayne-Nicholls of Chile is barred from

The official chosen by FIFA to inspect 2018 and 2022 World Cup hosting candidates was banned from soccer for seven years on Monday for breaking ethics rules. FIFA’s ethics committee gave no reason for its decision to suspend Harold Mayne-Nicholls, a former president of Chile’s football federation who is disputing the sanction. ”I will appeal to higher courts established in FIFA statutes and TAS (Court of Arbitration for Sport),” Mayne-Nicholls said.

BMW says no more manuals, M cars capped at 600 hp

Filed under: BMW, Technology, Performance


BMW might abandon manual transmission for its M models, and the division could cap power to 600 hp for future vehicles.

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BMW says no more manuals, M cars capped at 600 hp originally appeared on Autoblog on Mon, 06 Jul 2015 13:30:00 EST. Please see our terms for use of feeds.

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Humana Cuts View Days After Aetna Deal

Humana on Monday cut its earnings outlook because of higher-than-expected medical costs as the company discussed its previously announced $34.1 billion tie-up with Aetna Inc. All images and written content is property of the listed RSS FEED if you would like more on this story and images please click the listed feed.

Caitlyn Jenner Pens Touching Blog Post About Her Trans Journey — Asks ‘Am I Doing It Right?’


Caitlyn Jenner partnered with WhoSay to publish a series of articles about her journey — the first of which went live on Monday.

The former Olympian has named the blog posts The Real Me.


In the premiere post, the reality star wrote:

“First of all, I want to thank you all for your support. The response to my new journey has been overwhelmingly positive and I’m eternally grateful for all of your sweet messages, letters, and gifts.

Up until now, I have totally isolated myself from the transgender community so I have a lot of catching up to do. I feel such a responsibility to this courageous group to try to get it right and tell all sides of the story. To me, that’s always the biggest question: am I doing it right?”

[ Related: Caitlyn Jenner Is Proud To Be An American In Her Latest Photo! ]

What a beautifully personal post!

As we previously reported, the Keeping Up With The Kardashians starlet made her public debut on the cover of Vanity Fair after coming out as transgendered in April.

Nonetheless, Jenner’s taken the opportunity to not only talk about her own journey but to advocate for the trans community as well.

She continued:

“I’ve heard every horror story there is in the book. You wouldn’t believe the types of ordeals these people have had, how they have had to literally fight for their own survival. Many trans teens are bullied and abused in high school. It’s just horrendous. Then there’s the other dark side of this issue: did you know that nearly 25 percent of the women in high-end sex business are reportedly trans women?”

Whoa. We’ll definitely be tuning in to the next series of posts.

Caitlyn, just know how proud we are of you. Keep doing you girl!

[Image via TNYF/WENN.]

Letting The Freedom Of Truth Uncover The Value Of Life

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