Notes in the margin: Super Ted

The not-for-profit foundation dedicated to "ideas worth spreading".

Where can you find Morgan Spurlock talking about product placement, Bill Gates addressing the problems of state schools and David Byrne opining on architecture and music? At Ted Talks, that's where.

It's a stealth success: from its original 1984 conference on technology, entertainment and design, Ted has turned into an international hydra dedicated to the spread of (mostly) good ideas. Each speaker gets up to 18 minutes to deliver a lecture on a subject of their choosing, accompanied by props, visualisations, slides and, occasionally, live music.

The Ted empire now includes the Ted conference (held every spring in Long Beach), Ted Global (its sister event in Europe, held this year from 12-15 July in Edinburgh), Ted Women and Ted India. Then there are Ted fellows, who are given funds to do everything from spreading slam poetry to "growing" clothing from bacteria.

Perhaps most excitingly, there are now Tedx events, where any local organiser can apply for a (free) licence to hold an evening of talks under the organisation's banner. There have been 1,500 of these around the world in the past two years, including several dozen in the UK. There are some coming up: on 4 June in Oxford, on 7 July in York and 17 September in Bristol. See Ted.com for details.

If you asked me to name my favourite Ted speech, I'd be torn. The first contender is Steven Johnson: in his 2010 talk “Where Do Good Ideas Come From?" (tinyurl.com/tedgoodideas), the American author elegantly lays out his thesis that the English coffee house was crucial to the intellectual flowering of the Enlightenment. "Before the spread of coffee and tea, both elite and mass folks drank alcohol," he says. "You had an entire population that was drunk all day."

But, in the end, I would always pick the gerontologist Aubrey de Grey. It's not just his ZZ Top beard, his 90 miles-per-hour delivery or even his assertion that the first person to live to 1,000 has already been born. No, it's the moment when a rotund man in the audience asks whether he could live past 100, as the gerontologist predicts. "If you lose a bit of weight," de Grey shoots back, totally without malice.

Helen Lewis is deputy editor of the New Statesman. She has presented BBC Radio 4’s Week in Westminster and is a regular panellist on BBC1’s Sunday Politics.

This article first appeared in the 23 May 2011 issue of the New Statesman, Obama 2.0

Getty
Show Hide image

Leader: The unresolved Eurozone crisis

The continent that once aspired to be a rival superpower to the US is now a byword for decline, and ethnic nationalism and right-wing populism are thriving.

The eurozone crisis was never resolved. It was merely conveniently forgotten. The vote for Brexit, the terrible war in Syria and Donald Trump’s election as US president all distracted from the single currency’s woes. Yet its contradictions endure, a permanent threat to continental European stability and the future cohesion of the European Union.

The resignation of the Italian prime minister Matteo Renzi, following defeat in a constitutional referendum on 4 December, was the moment at which some believed that Europe would be overwhelmed. Among the champions of the No campaign were the anti-euro Five Star Movement (which has led in some recent opinion polls) and the separatist Lega Nord. Opponents of the EU, such as Nigel Farage, hailed the result as a rejection of the single currency.

An Italian exit, if not unthinkable, is far from inevitable, however. The No campaign comprised not only Eurosceptics but pro-Europeans such as the former prime minister Mario Monti and members of Mr Renzi’s liberal-centrist Democratic Party. Few voters treated the referendum as a judgement on the monetary union.

To achieve withdrawal from the euro, the populist Five Star Movement would need first to form a government (no easy task under Italy’s complex multiparty system), then amend the constitution to allow a public vote on Italy’s membership of the currency. Opinion polls continue to show a majority opposed to the return of the lira.

But Europe faces far more immediate dangers. Italy’s fragile banking system has been imperilled by the referendum result and the accompanying fall in investor confidence. In the absence of state aid, the Banca Monte dei Paschi di Siena, the world’s oldest bank, could soon face ruin. Italy’s national debt stands at 132 per cent of GDP, severely limiting its firepower, and its financial sector has amassed $360bn of bad loans. The risk is of a new financial crisis that spreads across the eurozone.

EU leaders’ record to date does not encourage optimism. Seven years after the Greek crisis began, the German government is continuing to advocate the failed path of austerity. On 4 December, Germany’s finance minister, Wolfgang Schäuble, declared that Greece must choose between unpopular “structural reforms” (a euphemism for austerity) or withdrawal from the euro. He insisted that debt relief “would not help” the immiserated country.

Yet the argument that austerity is unsustainable is now heard far beyond the Syriza government. The International Monetary Fund is among those that have demanded “unconditional” debt relief. Under the current bailout terms, Greece’s interest payments on its debt (roughly €330bn) will continually rise, consuming 60 per cent of its budget by 2060. The IMF has rightly proposed an extended repayment period and a fixed interest rate of 1.5 per cent. Faced with German intransigence, it is refusing to provide further funding.

Ever since the European Central Bank president, Mario Draghi, declared in 2012 that he was prepared to do “whatever it takes” to preserve the single currency, EU member states have relied on monetary policy to contain the crisis. This complacent approach could unravel. From the euro’s inception, economists have warned of the dangers of a monetary union that is unmatched by fiscal and political union. The UK, partly for these reasons, wisely rejected membership, but other states have been condemned to stagnation. As Felix Martin writes on page 15, “Italy today is worse off than it was not just in 2007, but in 1997. National output per head has stagnated for 20 years – an astonishing . . . statistic.”

Germany’s refusal to support demand (having benefited from a fixed exchange rate) undermined the principles of European solidarity and shared prosperity. German unemployment has fallen to 4.1 per cent, the lowest level since 1981, but joblessness is at 23.4 per cent in Greece, 19 per cent in Spain and 11.6 per cent in Italy. The youngest have suffered most. Youth unemployment is 46.5 per cent in Greece, 42.6 per cent in Spain and 36.4 per cent in Italy. No social model should tolerate such waste.

“If the euro fails, then Europe fails,” the German chancellor, Angela Merkel, has often asserted. Yet it does not follow that Europe will succeed if the euro survives. The continent that once aspired to be a rival superpower to the US is now a byword for decline, and ethnic nationalism and right-wing populism are thriving. In these circumstances, the surprise has been not voters’ intemperance, but their patience.

This article first appeared in the 08 December 2016 issue of the New Statesman, Brexit to Trump