View Comments We now know who we’ll be watching when 1984 returns to London’s Playhouse Theatre this summer. The cast will include Stephen Fewell, who will reprise his role of Charrington, under the direction of Robert Icke and Duncan Macmillan. Based on George Orwell’s classic 1949 novel, the production will begin previews on June 12 and play a limited engagement through September 5. Opening night is set for June 18.All the company members are returning to the show, having previously appeared in the touring, Almeida or West End productions. Joining Fewell in the cast will be Simon Coates as Parsons (from June 29), Tim Dutton as O’Brien, Janine Harouni as Julia (until July 25), Christopher Patrick Nolan as Martin, Ben Porter as Syme, Matthew Spencer as Winston, Gavin Spokes as Parsons (until June 27), Mandi Symonds as Mrs. Parsons and Hara Yannas as Julia (from July 27).April, 1984. 13:00. Comrade 6079, Winston Smith, thinks a thought, starts a diary, and falls in love. But Big Brother is always watching.
FacebookTwitterLinkedInEmailPrint分享Renew Economy:Australia’s booming rooftop solar market is on track to add a record 2,000MW (2GW) of capacity in 2019, as electricity prices refuse to budge and state government rebates make solar self-generation more accessible than ever.A new report from Green Energy Markets says 480MW of small-scale rooftop solar capacity has already been installed in the first quarter of this year, confirming previous analysis that it eclipses the total from the same time last year by a massive 46 per cent, and delivering two-and-a-half times the Q1 average of the past four years.At this rate, says Green Energy Markets’ Tristan Edis, new additions of rooftop solar would, by 2022, deliver more than enough new generation capacity to replace Liddell Power Station – the New South Wales coal power plant that is due to retire by that date.At the large-scale end of the market, GEM’s Edis details a massive 8,123MW of projects under construction across the country at the end of March, including 4,592MW of wind farms and 3,471MW of large-scale solar.As at the end of March, renewables made up almost 20 per cent – 19.7% – of the electricity generated on Australia’s main grids, enough to power 9.5 million homes.More: Rooftop solar to add 2,000MW in 2019, another Liddell by 2022 Utility-scale and residential rooftop solar installations are booming in Australia
Among the emerging risks that The Rochdale Group monitors are geopolitical threats. These include things like last year’s worries over Russia’s annexation of the Crimea and its forays into Ukraine; the potential threat of a nuclear Iran; and the re-emergent fears over a Greek exit from the European Union (EU), which has been labeled the “Grexit.”On February 4, the stock market reacted in sharply negative fashion to the Grexit threat. The Dow Jones Industrial Average was up more than 100 points within a half hour of the closing bell, before the European Central Bank (ECB) announced that it could no longer assume a successful outcome from the new Greek government’s bailout negotiations with its lenders, and thus it would no longer accept Greek debt as collateral for ECB loans. By the market’s close, the Dow had shed the day’s gains, dipping into negative territory before closing virtually flat on the day.Following the closing bell, one market pundit posed the question, “Does Europe matter?” followed by her own reply: “Today’s market reaction proves it does.”From a global risk perspective, Europe certainly matters, to its own nations, to the U.S. and to emerging markets. But the ECB announcement regarding Greek debt begs the more pertinent question: does Greece matter?From our perspective, it does not. In spite of the recent election of an anti-austerity leader, we view the risk of a Grexit as less than in 2009, when the Greek crisis reached its zenith and the world’s economies were in a much more fragile state than they are today. And in the end, the new government is likely to capitulate after some re-negotiation of the austerity terms posed on Greece by the EU, for a very simple reason: Greece needs the EU more than the EU needs Greece.Figure 1 below depicts Greece’s GDP as a percent of selected other nations, as well as the EU. Greek GDP represents 1.4% of the aggregate GDP of the EU, according to the IMF. Clearly, Greece matters little to the EU. Its GDP is 6.7% of the EU’s largest member (Germany) and 17.8% of that of Spain, another beleaguered EU economy that has largely overcome its Great Recession struggles.Does Greece matter to the U.S.? No. Its GDP is also about 1.4% of ours. Does it matter to the emerging markets – the so-called BRICs (Brazil, Russia, India and China)? Its GDP ranges from 6.7% to 11.8% of those countries’ – again, no. Greek GDP is less than that of relatively small countries like the Netherlands, Turkey, Nigeria, Iran and Saudi Arabia. Do we hear anyone claiming that the Netherlands “matters,” in terms of a global economic threat? No. If anything, given the recent plunge in oil prices, countries like Saudi Arabia, Iran and Nigeria matter more than Greece, given their dependence on oil and their larger total output.If Greece were a U.S. state, it would rank 25th in terms of gross output. Among the states with higher output than Greece are Louisiana, Connecticut, Colorado, Indiana and Missouri. Arguably, those states matter more to the health of the U.S. and global economy than does Greece.Figure 1 – Greek GDP as a Percent of Selected Countries and the EUWhat about the risk to holders of Greek sovereign debt? The EU owns about 10% of Greece’s outstanding debt, spread across its 28 member nations. Greece’s public sector holds about 8%, while world governments hold about 7%. The IMF holds about 4%, and EU member central banks, in aggregate, hold less than 4%. The three largest non-Greek private bank holders of Greek debt own about another 4%. Even if Greece were to outright default on all its debt – an unlikely scenario – none of these owners of its debt would likely experience a catastrophic loss. A default would surely crush Greece’s own banking system, but that wouldn’t significantly worsen the scenario of a sovereign default, and it makes such a scenario all the less likely.In short, while we love olives, ouzo and souvlakis, in terms of global risk, Greece doesn’t matter – in spite of what a jittery stock market may try to convince us. What does that mean to your credit union? In spite of the headlines or market reaction, a Grexit – even if it were to occur – would have minimal impact on the U.S. economy and interest rates. What happens here at home – the price of oil, the job growth trend, the strength of the dollar – will have far greater implications for the future path of interest rates, and for consumer trends, than what happens in Greece. 2SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Brian Hague Brian has more than 25 years’ experience in financial institutions and the capital markets, and has devoted 21 years to serving credit unions through various roles at CNBS, LLC, a … Web: www.rochdaleparagon.com Details