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LA STAMPA

Modern Slavery? Lessons From A Young Banker's Death In London

What the death of an overworked young German financial trainee tells us about the drunken carousel of the 21st century economy.

Moritz Erhardt was a trainee at Bank of America's London HQ
Moritz Erhardt was a trainee at Bank of America's London HQ
Massimo Gramellini

Perhaps, a balanced world was never possible. But what lurks behind the glorious banner of global progress looks ever more like a merry-go-round piloted by a drunk. In London, a fresh-faced German kid, just 21, named Moritz Erhardt, died in the shower of a dormitory after having worked in the City from 9 a.m. to 6 a.m. the following morning: twenty-one consecutive hours — for three days straight, feeding himself with only coffee.

At this young age, one can typically survive even worse hardships, and it is believed that Moritz may have suffered from epilepsy. Nevertheless, his death has turned the spotlight on a reality: While the majority of young people cannot find a job, those who do find a good position wind up being squeezed to the extreme by their employers. Trainees in the City work on average 14 hours a day and earn the equivalent of 3,000 euros a month — good money in many places but not in London, where renting a studio can cost 1,800 euros; indeed, Moritz slept in a hostel.

This striking contradiction between the few who work too much and the many who work too little, if at all, appears to be the result of a system devoid of government. Human history, which is a story of slaves often unaware of being such, has always been like this, with the exception of a short period — from the end of World War II to the 1970s — when, at least in the Western world, it was possible to distribute work and wealth, and thus create a middle class. But that period is over, and the drunk's carousel is running again. Only political leaders could stop it, but they've long since lost the keys. Or sold them instead.

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Geopolitics

Why The Latin American Far Left Can't Stop Cozying Up To Iran's Regime

Among the Islamic Republic of Iran's very few diplomatic friends are too many from Latin America's left, who are always happy to milk their cash-rich allies for all they are worth.

Image of Bolivia's ambassador in Tehran, Romina Pérez Ramos.

Bolivia's ambassador in Tehran, Romina Pérez Ramos.

Bolivia's embassy in Tehran/Facebook
Bahram Farrokhi

-OpEd-

The Latin American Left has an incurable anti-Yankee fever. It is a sickness seen in the baffling support given by the socialist regimes of Cuba, Nicaragua, Venezuela or Bolivia to the Islamic Republic of Iran, which to many exemplifies clerical fascism. And all for a single, crass reason: together they hate the United States.

The Islamic Republic has so many of the traits the Left used to hate and fight in the 20th century: a religious (Islamic) vocation, medieval obscurantism, misogyny... Its kleptocratic economy has turned bog-standard class divisions into chasmic inequalities reminiscent of colonial times.

This support is, of course, cynical and in line with the mandates of realpolitik. The regional master in this regard is communist Cuba, which has peddled its anti-imperialist discourse for 60 years, even as it awaits another chance at détente with its ever wealthy neighbor.

I reflected on this on the back of recent remarks by Bolivia's ambassador in Tehran, the 64-year-old Romina Pérez Ramos. She must be the busiest diplomat in Tehran right now, and not a day goes by without her going, appearing or speaking somewhere, with all the publicity she can expect from the regime's media.

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