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JULY 19, 2004
Why Athens Will Be Safe For The Games Let me add to your objective coverage of the security issue for the forthcoming Athens Olympic Games ("How Safe?" European Business, June 28). Safety does not depend entirely on the efforts and measures of Greece. The Hellenic republic has outspent itself to safeguard the Games. It is unfair for the local people to bear exclusively the heavy burden of responsibility and cost. Terrorism and safety constitute an international problem following September 11 that must be addressed by all countries, especially the U.S., not only militarily but also culturally. Hellenism could help bridge the apparent hostile gap between the West and Islam because of Greece's traditionally friendly relationship with the Arab nations. Regarding your question about whether the Olympics will be safe, allow me to answer, convincingly, yes. Greece has never experienced any Islamic violence, nor has it been the target of al Qaeda. Athens, thanks to the $1.25 billion protection budget, has become a real fortress. Terrorists -- who prefer surprises in hostile countries -- will not try anything silly. There is some hope, lastly, that even these barbarians will be enlightened by the world Torch Relay, which will pass by their caves, to respect the international truce promulgated by the Hellenic Olympic Committee. So, your readers should not be nervous. Visitors should calmly watch the greatest peaceful event of humanity in its birthplace and enjoy their vacation in the Hellenic islands. That will be the best reply of the civilized world to its terrorist enemy. Christos Alexopoulos Athens Computers Won't End Corruption In India As a U.S. citizen of Indian origin, I delight in reading news about Bangalore, my hometown ("The digital village," Asian Edition Cover Story, June 28). Unfortunately, very little of Bangalore's prowess in information technology is being applied at home. Go to any bank in Bangalore or in India -- all government-owned, of course -- and you will be repelled not just by the shabbiness and utter chaos but also by inefficient and curt service. Cashing a check can take up to 45 minutes because of the multiple book entries, checks, and rechecks that a battery of clerks perform manually. Your Indian correspondent writes that computerized data entry of land ownership data in Bangalore will speed up loan processing and eliminate corruption. I am not sure of that, for even while that piece was being written, a hefty bribe was being demanded of a relative of mine by the Bangalore municipal people in order to effect the transfer of ownership of the home that she inherited from her late father, where she has been living since 1967, to her name. This is not an isolated incident. In 2002, I gave five acres of land that I owned in Bangalore, for which I had no use, to my brother, who lives there; the transfer of ownership was effected only after a $200 bribe was paid as demanded by the municipal guys. They explained that the lion's share of such collections went up the chain into the pockets of the state political leadership. The bribe amount is based on a set percentage of the land value even if the property transfer is a gift. Corruption has been institutionalized by the party in power. Computers will not change the character of the politicians. A.N. Katti Marysville, Wash.   Why Many Asians Are Investing In Their Mattresses The assumption in "Out-of-sync markets" (Finance, June 28) that one can forget about a single global economy, since markets around the world are diverging sharply, is self-contradictory. In a larger playing field with many more players, the dissimilarities are bound to be more rapid and all the more difficult to foresee. You quote a market strategist that overall world growth will hit the highest rate in 30 years. True, but that's relatively speaking. During the past decade, outside North America and Western Europe, large swaths of the world have been climbing out of some of the worst regional meltdowns in memory. We tend to forget history. The single global economy is a truly old state of affairs. Except for pirates, highwaymen, and marauding nomads, there were no substantial man-made barriers to trade and investment flow till about three centuries ago. Tariffs and currency regulations for fiscal and economic management are ideas from the recent past. The performance of exchange-traded funds (ETFS), being "baskets," are almost a miniature reflection of an economy. So a global dimension will hardly bring comfort and security to investors. And while your counsel for H-shares is not upbeat, Asian investors will in any case opt for a sound sleep with their cash under their mattresses. Ancient habits seldom will die. Salim A. Khan Dhaka, Bangladesh The Back Door Of The U.S. Is Wide Open In the report on homeland security ("Welcome to Security Nation," News: The United States, June 14), there was no mention of any security measures on the long and porous border with Mexico. Unless the terrorists are very dumb, they will never try to get through the fine nets that are being created at the airports and ports of entry. They will simply join millions of Mexicans who cross the border illegally every year. With the entire attention of the U.S. government on closing the front door, nobody seems to realize that the back door is wide open. Muhammad Abd al-Hameed Lahore, Pakistan Sacrificing To Preserve The Wealth Of A Few Americans After reading Glenn Hubbard's inaugural column "The Social Security and Medicare morass" (Economic Viewpoint, June 28), I am compelled to ask how it is that the countries of Western Europe can provide their constituencies strong safety nets and comprehensive medical care (including pharmaceuticals) without becoming dank nests of bankruptcy? In spite of all the terrible fiscal dangers faced by the Western Europe democracies, their citizens are, on average, healthier (they live longer) than those in the U.S. Has preserving and extending the wealth of the richest among us become so great a priority that we must sacrifice the health and welfare of the rest of us? Charles Kelber Rockville, Md.
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