What can I say to make you care about Syria?

Paul Conroy, the photojournalist injured in the attack that killed Marie Colvin in Homs, says he "can’t think of a single photo I could take at this moment in time that would increase public awareness." When will people start taking notice of Syria again?

One comment has haunted me after a debate I attended last night, hosted by Save the Children and Intelligence Squared. Paul Conroy, the Sunday Times photojournalist who was injured in the attack in Homs that killed Marie Colvin and Remi Ochlik, had just been asked about returning to Syria. Conroy, whose leg with severely damaged with shrapnel, isn’t yet mobile enough to return to war zones, and in any case most agree Syria has become too dangerous for journalists – 36 Western journalists are known to be missing, many more may have been kidnapped and are being kept under a media blackout for their own safety. But Conroy had one more reason for not yet going back: “I can’t think of a single photo I could take at this moment in time that would increase public awareness,” he said. 

The Syrian war is one of the gravest humanitarian crises in living memory – Conroy, who has reported from the Balkans, as well as conflicts in the Middle East, says that it is “by far and away the worst conflict I’ve ever covered”. Around 11,000 children have been killed so far, and the Oxford Research Group has found that children as young as one have been tortured and executed. Many millions more have lost their homes, are going hungry and are living through the terror of war. Polio has returned to Syria for the first time in 14 years, and with medical supplies at dangerous lows and around 60% of hospitals damaged or destroyed (according to WHO) many Syrians will die from disease, as well as from the direct effects of conflict. The UN believes 100,000 have already been killed in fighting. But is there any point in me writing this, or of journalists risking their lives to report on Syria – does anyone care anymore?

Perhaps it is simply that the full human cost of the Syrian war is too vast to comprehend. Rola Hallam, the Syrian doctor who witnessed the incendiary bomb attack on a school, which featured on a Panorama documentary earlier this year, believes this might be one of the problems. “There’s almost a level of disbelief in the public and in the government about the atrocities that are happening,” she said last night. I understand her point – I re-watched the footage of children running into a field hospital with their clothes and their skin hanging off them, covered in burns, and if I had quite been able to comprehend the full horror of what I was seeing from the comfort my chair, I would have been permanently changed.

It could also be that people don’t understand what’s happening in Syria. With so few journalists able to operate within the country, Assad’s propaganda campaign has gained strength. Many saw the chemical weapons agreement as a sign that the worst of the conflict was over, forgetting that many are still dying from conventional weapons every day. The story of the Syrian war has changed from being a simple narrative of innocent civilians against the evil Assad regime – the rebels are guilty of war crimes too, and al-Qaeda affiliated groups have joined the fight against Assad, so perhaps people aren’t sure who they’re meant to be supporting any more.

Then there’s the problem that even if you feel moved to action, no one really knows what to do. Moral disgust is a pretty futile emotion if you don’t do anything with it. Politicians have fallen quiet since the chemical weapons agreement. No one in government is discussing military intervention any more, and in government circles talk of securing humanitarian corridors has gone quiet. What cause do ordinary people in Britain have to rally behind?

There are few small things you can do. You can research NGOs operating in Syria, and donate to one you feel is making a difference. You can talk and tweet about Syria, and help restart a conversation that will force politicians to moot radical action to get aid into Syria, and to work harder towards securing a peaceful resolution. You can keep yourself informed, so that activists like Rola no longer feel, in her words, that she’s “shouting into a vacuum”. You can learn to care again.
 

A Syrian man carries a wounded girl next to Red Crescent ambulances following an explosion that targeted a military bus near Qudssaya, a neighbourhood of the Syrian capital, on June 8, 2012. Photo:Getty.

Sophie McBain is a freelance writer based in Cairo. She was previously an assistant editor at the New Statesman.

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Labour's investment bank plan could help fix our damaging financial system

The UK should learn from the success of a similar project in Germany.

Labour’s election manifesto has proved controversial, with the Tories and the right-wing media claiming it would take us back to the 1970s. But it contains at least one excellent idea which is certainly not out-dated and which would in fact help to address a key problem in our post-financial-crisis world.

Even setting aside the damage wrought by the 2008 crash, it’s clear the UK’s financial sector is not serving the real economy. The New Economics Foundation recently revealed that fewer than 10% of the total stock of UK bank loans are to non-financial and non-real estate businesses. The majority of their lending goes to other financial sector firms, insurance and pension funds, consumer finance, and commercial real estate.

Labour’s proposed UK Investment Bank would be a welcome antidote to a financial system that is too often damaging or simply useless. There are many successful examples of public development banks in the world’s fastest-growing economies, such as China and Korea. However, the UK can look closer to home for a suitable model: the KfW in Germany (not exactly a country known for ‘disastrous socialist policies’). With assets of over 500bn, the KfW is the world’s largest state-owned development bank when its size is measured as a percentage of GDP, and it is an institution from which the UK can draw much-needed lessons if it wishes to create a financial system more beneficial to the real economy.

Where does the money come from? Although KfW’s initial paid-up capital stems purely from public sources, it currently funds itself mainly through borrowing cheaply on the international capital markets with a federal government guarantee,  AA+ rating, and safe haven status for its public securities. With its own high ratings, the UK could easily follow this model, allowing its bank to borrow very cheaply. These activities would not add to the long-run public debt either: by definition an investment bank would invest in projects that would stimulate growth.

Aside from the obviously countercyclical role KfW played during the financial crisis, ramping up total business volume by over 40 per cent between 2007 and 2011 while UK banks became risk averse and caused a credit crunch, it also plays an important part in financing key sectors of the real economy that would otherwise have trouble accessing funds. This includes investment in research and innovation, and special programs for SMEs. Thanks to KfW, as well as an extensive network of regional and savings banks, fewer German SMEs report access to finance as a major problem than in comparator Euro area countries.

The Conservatives have talked a great deal about the need to rebalance the UK economy towards manufacturing. However, a real industrial policy needs more than just empty rhetoric: it needs finance. The KfW has historically played an important role in promoting German manufacturing, both at home and abroad, and to this day continues to provide finance to encourage the export of high-value-added German products

KfW works by on-lending most of its funds through the private banking system. This means that far from being the equivalent of a nationalisation, a public development bank can coexist without competing with the rest of the financial system. Like the UK, Germany has its share of large investment banks, some of which have caused massive instabilities. It is important to note that the establishment of a public bank would not have a negative effect on existing private banks, because in the short term, the UK will remain heavily dependent on financial services.

The main problem with Labour’s proposal is therefore not that too much of the financial sector will be publicly owned, but too little. Its proposed lending volume of £250bn over 10 years is small compared to the KfW’s total financing commitments of  750 billion over the past 10 years. Although the proposal is better than nothing, in order to be effective a public development bank will need to have sufficient scale.

Finally, although Brexit might make it marginally easier to establish the UK Investment Bank, because the country would no longer be constrained by EU State Aid Rules or the Maastricht criteria, it is worth remembering that KfW’s sizeable range of activities is perfectly legal under current EU rules.

So Europe cannot be blamed for holding back UK financial sector reform to date - the problem is simply a lack of political will in the current government. And with even key architects of 1980s financial liberalisation, such as the IMF and the economist Jeffrey Sachs, rethinking the role of the financial sector, isn’t it time Britain did the same?

Dr Natalya Naqvi is a research fellow at University College and the Blavatnik School of Government, University of Oxford, where she focuses on the role of the state and the financial sector in economic development

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