A UK government Covid-19 booster campaign in London. EPA
A UK government Covid-19 booster campaign in London. EPA
A UK government Covid-19 booster campaign in London. EPA
A UK government Covid-19 booster campaign in London. EPA


Europe's winter of discontent with the Omicron variant


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December 16, 2021

The massive revolt by British Conservative Party Members of Parliament against Prime Minister Boris Johnson’s plans to introduce new anti-Covid-19 measures this week reflects the growing unease throughout Europe over the re-introduction of restrictions against the virus.

Mr Johnson’s bruising encounter with his own MPs this week stemmed from his government’s attempts to introduce a measure that legally required attendees at large events, such as nightclubs and football matches, to provide either proof of vaccination or a negative test before entering.

Opponents of the move accused Mr Johnson of attempting to introduce so-called vaccination passports, a measure civil liberties campaigners argue unfairly discriminates against those who have not received jabs.

Even though Mr Johnson personally sought to reassure MPs that the requirement was a temporary measure, almost 100 Tory MPs voted against the new rule when it was presented to the Commons, and the legislation only passed due to the support it received from opposition Labour MPs.

Moreover, the difficulties Mr Johnson experienced in seeking to reintroduce measures last used during last winter’s lockdown in England are symptomatic of the growing resistance governments throughout Europe are encountering as they struggle to contend with the spread of the new Omicron variant.

Opposition to the imposition of new measures essentially appears to stem from two fundamental issues. The first concerns complaints that governments are seeking to impose unnecessary restrictions on personal liberties in their drive to tackle the virus.

  • Protesters gather for a flashmob demonstration to demand emergency income and financing in front of the Milan branch of the Bank of Italy. EPA
    Protesters gather for a flashmob demonstration to demand emergency income and financing in front of the Milan branch of the Bank of Italy. EPA
  • Owners of restaurants and event organisers gather to protest at rally in front of the colosseum in Verona. EPA
    Owners of restaurants and event organisers gather to protest at rally in front of the colosseum in Verona. EPA
  • Italian chefs and restaurant owners gather near place settings positioned on the street as they participate in a protest at Pantheon Square in Rome. AFP
    Italian chefs and restaurant owners gather near place settings positioned on the street as they participate in a protest at Pantheon Square in Rome. AFP
  • People take part in a protest organised by fairs and events workers in Warsaw, Poland. EPA
    People take part in a protest organised by fairs and events workers in Warsaw, Poland. EPA
  • A sticker reading "Hospitality not at closing" is pictured during a protest in Barcelona, Spain. Reuters
    A sticker reading "Hospitality not at closing" is pictured during a protest in Barcelona, Spain. Reuters
  • A Guy Fawkes mask hangs on a wing mirror as taxi drivers protest in Barcelona, Spain. Reuters
    A Guy Fawkes mask hangs on a wing mirror as taxi drivers protest in Barcelona, Spain. Reuters
  • Owners of bars and restaurants in Santiago de Compostela, Spain, protest against the new restrictions imposed to stop the coronavirus spread. EPA
    Owners of bars and restaurants in Santiago de Compostela, Spain, protest against the new restrictions imposed to stop the coronavirus spread. EPA
  • Artists and employees of events companies protest at Alexanderplatz in Berlin, Germany. Getty Images
    Artists and employees of events companies protest at Alexanderplatz in Berlin, Germany. Getty Images
  • Protesters demonstrate in support of the event sector in Berlin, Germany. Reuters
    Protesters demonstrate in support of the event sector in Berlin, Germany. Reuters
  • Demonstrators protest against the Czech government's measures in Prague, Czech Republic. EPA
    Demonstrators protest against the Czech government's measures in Prague, Czech Republic. EPA
  • The Czech Republic recorded a rise in Covid-19 cases, resulting in the government imposing a series of new restrictive measures. EPA
    The Czech Republic recorded a rise in Covid-19 cases, resulting in the government imposing a series of new restrictive measures. EPA

The other, more worrying, dissent comes from anti-vaxxer groups who are fundamentally opposed to receiving anti-Covid-19 jabs for a variety of ideological reasons.

Anti-vaxxers mainly seem to consist of supporters of populist and far-right parties, although some are adherents of alternative medicine, hippies and libertarians. Others object to the jabs on religious grounds.

Not being vaccinated certainly has its risks. In Britain, where more than 80 per cent of the adult population has received at least two jabs, the majority of those who have been hospitalised with the virus in recent weeks are those who remain unvaccinated.

In Europe, opposition to vaccinations means that around one third of the EU’s total population still have not received their jabs.

Moreover, their failure to do so is increasingly becoming a source of friction with those who have had their jabs, who accuse the refuseniks of prolonging the pandemic by failing to act in the public interest.

By far the most dramatic incident in Europe relating to anti-vaxxer groups took place in Germany this week when police in the eastern state of Saxony launched a series of raids after death threats were made against a prominent politician for backing coronavirus measures.

The death threats were made against Premier Michael Kretschmer who has publicly declared his support for the introduction of new coronavirus measures. A German television documentary accused far-right anti-vaccination activists of making threats against the state premier, prompting German anti-extremist officers to raid a number of locations in Saxony, which has the lowest vaccination take-up in the country. Far-right activists in the state are also suspected of plotting violence with crossbows or other "piercing weapons".

Suggestions that far-right anti-vaccination groups have been plotting against German politicians have caused a major headache for Germany's new chancellor, Olaf Scholz, who told MPs on Wednesday that "this tiny minority of uninhibited extremists" would not be allowed to impose their will on society.

Last week Germany's new government steered through a draft law to require all health workers and soldiers to get vaccinated by next spring, and Chancellor Scholz has backed mandatory vaccines for all adults early in 2022.

The German government’s no-nonsense moves to tackle the new strain certainly appear to have the backing of both politicians and the public. While support for a nationwide vaccine mandate had previously been regarded as taboo, several state premiers are now backing such measures for the entire country. And a recent opinion poll suggests 72 per cent of Germans are in favour of imposing a vaccine mandate.

Opponents of rules to enforce vaccinations are not just confined to Germany, where on Monday night some 3,500 people demonstrated in the eastern city of Magdeburg, chanting "peace, freedom, no dictatorship".

Thousands of opponents of anti-covid-19 measures have staged protests in Italy, Switzerland and Northern Ireland, while in Belgium and the Netherlands rioters have sparked violent clashes with the police.

Emotions have also been running high in neighbouring Austria, where the government imposed a nationwide lockdown in response to the emergence of the new Omicron variant. An estimated 40,000 unvaccinated Austrians marched through the capital, Vienna, with some protesters carrying placards likening Alexander Schallenberg, Austria’s new chancellor, to Josef Mengele, the sadistic physician at the Nazi concentration camp in Auschwitz.

In France, meanwhile, the authorities are concentrating their attention on the over-65s, placing anyone who has not received a third booster jab under lockdown from Wednesday.

The new measure has been introduced as the country seeks to ward off a massive Christmas surge of both the Delta and Omicron variants. As a result, France's health pass, the “passe sanitaire”, will no longer be valid without a booster, barring those without a third dose from visiting any restaurant or cafe, using inter-city trains and going to cultural venues like cinemas or museums.

The French government says some 400,000 people aged 65 and over who are eligible for the boosters are yet to receive them, accounting for 12 per cent of those aged 80 and above and 10 per cent of those aged 65 to 79.

Amid all the gloom surrounding the new measures in Europe there is, though, one note of optimism. A study by American researchers at the Nestle Purina Research institute in Missouri has found that dog-owners are better-equipped to deal with lockdowns and other measures, as owning a dog generates a feeling of being loved and valued during the pandemic, and that dog-owners are less likely to show signs of depression.

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Fixtures

Friday Leganes v Alaves, 10.15pm; Valencia v Las Palmas, 12.15am

Saturday Celta Vigo v Real Sociedad, 8.15pm; Girona v Atletico Madrid, 10.15pm; Sevilla v Espanyol, 12.15am

Sunday Athletic Bilbao v Getafe, 8.15am; Barcelona v Real Betis, 10.15pm; Deportivo v Real Madrid, 12.15am

Monday Levante v Villarreal, 10.15pm; Malaga v Eibar, midnight

Charlotte Gainsbourg

Rest

(Because Music)

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Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
Company%20profile
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Stree

Producer: Maddock Films, Jio Movies
Director: Amar Kaushik
Cast: Rajkummar Rao, Shraddha Kapoor, Pankaj Tripathi, Aparshakti Khurana, Abhishek Banerjee
Rating: 3.5

 

 

ENGLAND SQUAD

Goalkeepers Henderson, Johnstone, Pickford, Ramsdale

Defenders Alexander-Arnold, Chilwell, Coady, Godfrey, James, Maguire, Mings, Shaw, Stones, Trippier, Walker, White

Midfielders Bellingham, Henderson, Lingard, Mount, Phillips, Rice, Ward-Prowse

Forwards Calvert-Lewin, Foden, Grealish, Greenwood, Kane, Rashford, Saka, Sancho, Sterling, Watkins 

First Person
Richard Flanagan
Chatto & Windus 

While you're here
Updated: December 28, 2021, 3:24 PM