A Lesson From Greek Mythology

I had intended to start this blog in the new year, but two recent Council decisions and their subsequent media coverage offered useful food for thought.

On the 13th December, the Council agreed to establish the first step of the much anticipated and much discussed, European banking union. A Council Press Communiqué outlined an agreement on a new “SSM” (single supervisory mechanism). This body will be run by a supervisory board established within the ECB and will have direct supervisory capacities over national banks. It is expected that the Parliament will also endorse the proposal. Be that as it may, critics have been quick to highlight flaws, namely that it represents too little agreement. Notably absent from the proposal is the mention of bank resolution and deposit insurance, which emphasises the political unwillingness of Europe to move down a shared fiscal path. Even the supervisory capacities themselves limited, concerning only institutions with over €30bn or 25% of national assets, which realistically will represent about 1% of eurozone banks.

On the 17th December, the Council adopted two new regulations to secure the creation of a unitary European patent system. This followed a positive vote by the Parliament on the 11th December. Under the current system, patent protection must be sought across each of the individual 27 member states; at 18 times the cost of a typical US patent and 60 times the cost of a Chinese equivalent. Following this reform however, inventors and businesses alike could see their bid for patents fall from €35,000 to just €5,000. Although the system will take some time to establish, a uniform patent will help to coax back precious R&D whilst also increasing the competitiveness and attractiveness of the European market.  The European Commission hopes to have the first European patent by 2014, the year that will also herald the arrival of the SSM.

Now for a little diversion around Greek mythology. Sisyphus was the founder and king of Corinth (known as Ephyra). Sisyphus is variously attributed with cheating death, insulting Gods and killing travellers. As with all myths, the details vary but the message is similar; he was subsequently punished in the after world, condemned to an eternal labour of pushing a boulder up a hill, only to have it roll back down to the bottom when it reached the top.

Modern day Greece has played a starring role in the current eurozone dramatics, however this is not the reason for our little mythological diversion. The imagery of eternal labour is fitting to describe the current state of European policymaking and media coverage. The agreement on a European patent represents a significant and positive step forward for European business and growth; yet I found that several of the largest UK papers made no mention of the development. Where banking union was concerned, coverage generally tended towards negative and critical commentary (perhaps rightly so). The point is this however; for all the complaints about the lack of European communication, every piece of good news is either drowned out or undone by a larger raucous of political disagreement. This may not be the ‘fault’ of any official institutional communicators; blame is hardly appropriate in a global mediapolis where no-one controls the end message. Nevertheless, perhaps it is worth spending some more time reflecting on how to effectively communicate good news, which would ultimately avoid continuing a pattern of eternal up-hill struggle.

8 Responses to A Lesson From Greek Mythology »»

  1. Comment by Jeremy Fry | 2012/12/18 at 19:50:31

    Could the cause of the failure to recognize good news be in any way related to rising rates of depression in European citizens? If so, what’s causing the depression? the vast tide of bad news itself or could there be another culprit at hand…?

  2. Comment by Horatiu Ferchiu | 2012/12/19 at 13:31:16

    Good news on Eu level is almost always sidelined. Because there is no gain for local politicians from EU programs/ initiatives that work. It’s hard to capitalize on that. Much easier to remove such news from mainstream media, which, by all means, is politically involved one way or the other. So we have twitter, and blogs :)

  3. Comment by Kimberley Botwright | 2012/12/19 at 13:46:28

    Quite! Thanks for your comment and I agree with you. I had two further thoughts after reading your reply;
    -By increasingly engaging in more informal patterns of democratic participation (and/or communication) (blogging/tweeting etc.), are we treating the symptoms but not the causes of EU irrelevance?
    -Alternatively, are we entering a mediapolis world where we might have to re-think what communication itself means. Will there be such a thing as ‘good’ and ‘bad’ news; when multiple versions of an event exist?
    -Finally, I take encouragement from the fact that we do “keep blogging”, especially on paradoxical, yet very interesting subjects such as the European debate ;)

  4. Comment by Horatiu Ferchiu | 2012/12/19 at 14:01:59

    I wouldn’t say that we are treating the symptoms but that we are developing additional means of expressing our views. If you look at the number of politicians with twitter accounts for example you kinda start thinking that shared views might actually account for something. On the other hand it promotes a certain type of direct contact with high level officials, even if through press or pr team. The important part is that the message gets across, and there have been cases where replies were quickly and promptly issued.

    The mediapolis is already here, and it’s one of the things that local politicians don’t understand. Selling a story home and one abroad, as clearly was the case this summer in Romania, is no longer valid nor possible. As tech and internet penetration increases, information control will be increasingly hard to achieve.

    Of course we keep on blogging – we have ideas and views and god knows there’s not one single person in this world who does not want his/hers opinion out there. However, the complicated part, the important one, that validates or invalidates a blog is the quality of comments and their relevance. Shocking as it might be to many, the EU related blogosphere has a very good self control mechanism.

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  8. Comment by Kimberley Botwright | 2013/04/22 at 14:21:40

    Thank you all for their comments, they are much appreciated. -Kimberley


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