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Midweek Review

Inequality is killing the Middle Class

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Gary Stevenson

Diary of a CitiBank Trader:

“I would like to have kids one day… and I’ll have to tell them, I made my money betting on the collapse of society, that’s the truth…”

–– Gary Stevenson

Gary Stevenson is a highly successful financial trader formerly employed at Citibank, in London’s historic central business district (CBD), colloquially called “The City”. A talented mathematics student, he earned a full-scholarship to the London School of Economics (LSE) and recalls noticing immediately that there were not many students at LSE with his background: “poor, working class” and even fewer at Citibank, where Stevenson earned an internship by winning a national mathematics contest. The 38-year old carries a strong East London accent that he admits made him stand-out quite a bit. Early on during his time at Citibank, somebody asked him “where’s that accent from, I love it”, he had to tell them that he was from East London, where they were standing, in Canary Wharf.

Speaking on a UK television interview show from February 2025, Stevenson says: “My YouTube channel, we got 1.2 million views yesterday in one day, ONE DAY… there’s a reason why I used to get paid 2 million pound-a-year to do this, because I’m [very] good at this okay, I shouldn’t be on YouTube, I shouldn’t be here, it doesn’t make no sense, I should be working for a hedge fund making 5 million pound-a-year… I’m here talking to you, talking to your audience because I can see… that the middle class, ordinary people, are going to be driven into desperate poverty…”

At Citibank in 2008, Stevenson earned a basic salary of GBP 36,000 but his first full-year bonus was GBP 400,000; he had amassed more money in 18 months than his father had in his entire lifetime. “Listen … these guys that tell you economics on the news, they get paid one hundred, two hundred grand a year, I got paid millions of pounds a year to do it because I’m the best at it and I still beat them, every year…The best economists in the world are all traders… the best-paid ten thousand economists in the world are all traders …”

By some estimates the Bank of England, the UK’s Central Bank, has injected around One Trillion Pounds (over GBP 1,000,000,000,000) into the UK economy since the 2008 financial crisis, during which period, living standards in the UK have been steadily deteriorating as a stagnant middle class struggles amidst a cost of living crisis.

The Uk are not alone, Governments and Central Banks around the world have injected hundreds of billions of dollars into their economies in the past two decades in response to extreme economic and social crises; eg: 2008’s financial crisis and the Covid19 global pandemic. The broad instruments were (1) quantitative easing (QE) – Central Banks purchasing financial assets such as government bonds and (2) direct fiscal ‘stimulus’ payments to business sectors and even individuals, usually funded by the Treasury.

In early 2011, Stevenson got called into a meeting with one of the Citibank’s top economists who went through the financial situations of a lot of the world’s major governments “so Italy, Spain, Portugal, Greece, Ireland but also the UK, US, Japan and what he said was basically, all of these governments are effectively bankrupt, they spend more than their income every year and they’re going further and further into debt… they’re being forced to sell their assets ….”

Where did all that Money go?

In response to the Covid19 pandemic of 2020, the UK Government engaged in QE using a 2009 program called the ‘Asset Purchase Facility’ (APF) and a fiscal stimulus called the Coronavirus Job Retention Scheme (CJRS) popularly known as the Furlough Scheme. The CJRS subsidised employee wages (up to 80% capped at GBP 2,500 per month), totalling GBP 70 bn from March 2020 to September 2021. The APF totalled GBP 450 Bn of UK Govt Bonds (and a small amount of UK Corporate Bonds) from 2020 onwards; the total portfolio peaked at GBP 895 Bn in late 2020 and was around GBP 680 Bn by end 2024.

Stevenson’s analysis suggests that QE has led to funds flowing into financial markets, inflating asset prices, be they stocks, bonds or property, thus disproportionately benefiting the owners of these asset classes – mostly the wealthy and ultra-wealthy.

Having graduated to a permanent position on the Trading Floor of Citibank in 2007, Stevenson’s job was to analyse and trade on interest rates. In the aftermath of the collapse of Lehmann Brothers, the US Federal Reserve slashed interest rates from 5% to 1% by October 2008 and before the end of the year rates were cut to a target range of 0.00% to 0.25%. In the UK, a similarly dramatic collapse of interest rates: 5% in October 2008 down to 2% in December 2008. Stevenson recollects that “suddenly, we’re all betting on when will the economy recover… bringing rates to zero is like an emergency measure… and the economic theory tells you this should cause a massive economic recovery and we obviously know now, it didn’t happen but at the time, every single year, the economists, the traders, the markets said: ‘next year rates will go up, which means next year the economy will recover’, literally every year 2009, 2010, 2011 all the way until 2020 and it wasn’t until Covid when they finally said, ‘okay rates will stay zero forever’ and then of course, rates immediately went to 5% ….”

This sequence of events suggested to Stevenson that, other than the elite Trading Desks of the world’s largest banks and hedge funds, most economists and market participants were not very good at predicting what would happen in their economies. “The way I became a millionaire is, after the financial crisis, I realised that because of a massive growth in inequality, we would basically never come out of that crisis and I started to put massive bets… that the economy would get worse and worse… and within a year of doing that, I became Citibank’s most profitable trader in the world ….”

The ‘Living Standards Outlook’ for 2023 by UK-based think-tank, Resolution Foundation, stated that “Absolute poverty is set to rise in the short-run, from 17.2 per cent in 2021-22 to 18.3 per cent in 2023-24 (or an additional 800,000 people in poverty). Child poverty in 2027-28 is forecast to be the highest since 1998-99, with 170,000 more children in poverty than in 2021-22”. The Joseph Rowntree Foundation states that “More than 1 in 5 people in the UK (21%) were in poverty in 2022/23 – 14.3 million people. Of these, 8.1 million were working-age adults, 4.3 million were children and 1.9 million were pensioners. A 2024 report by the Office for National Statistics (ONS) highlights that Real Household Disposable Income (RHDI) per person had grown at the slowest pace for the poorest 50% of the population and income inequality is widening, those in the lower 20% of the income distribution have seen stagnant or even falling real incomes over the last two decades.

A 2018 Bank Of England report titled, ‘The Distributional Impact of Monetary Policy Easing in the UK 2008 – 2014’, (Bunn et al) states that while in percentage terms, the gains were evenly spread, there were still major distributional issues such as wealthier households gaining more because they held more assets that appreciated due to QE: “the overall effect of monetary policy on standard relative measures of income and wealth inequality has been small.

Given the pre-existing disparities in income and wealth, we estimate that the impact on each household varied substantially across the income and wealth distributions in cash terms ….”

From Progress to Poverty 

In 2014, ThinkTank, Centre for American Progress (CAP) released a report titled ‘The Middle-Class Squeeze’ submits that American “middle-class share of national income has fallen, middle-class wages are stagnant, and the middle class in the United States is no longer the world’s wealthiest… The cost of being in the middle class—and of maintaining a middle-class standard of living—is rising fast too ….”

In his 2019 book, ‘Third Pillar’, former Governor of the Reserve Bank of India, Raghuram Rajan discusses the impact of the middle-class squeeze on communities: “The anxieties of the moderately educated middle-aged white male in the United States are mirrored in other rich developed countries in the West… moderately educated workers are rapidly losing, or are at risk of losing, good ‘middle-class’ employment, and this has grievous effects on them, their families, and the communities they live in… as public anxiety turns to anger, radical politicians see more value in attacking imports and immigrants. They propose to protect manufacturing jobs by overturning the liberal rules-based postwar economic order, the system that has facilitated the flow of goods, capital, and people across borders”.

Stevenson notes that “we increased inequality at the fastest rate in the history of this country during a time when the economy was closed. Only luxury and non-essential spending reduced during covid; they gave money to furloughed workers, who… then had to spend most of it immediately to pay bills”. Furlough was not a gift but a replacement of a portion of wages of working people who transferred that to: landlords through rent, shareholders of Banks through mortgage payments and shareholders of energy companies through higher bills. Stevenson says the wealthiest in society earn massive amounts of passive income from the assets they own; monthly incomes so large it is impossible to spend it all on consumer goods so instead it leads them to hoard wealth by buying assets.

This correlates to rising house prices, which Stevenson analyses as occurring in a context where almost all other asset classes have seen broad and significant appreciation over the last 20 years: major stock indexes such as S&P 500, FTSE 100 and FAANG (tech stocks), Real Estate, Bonds (until the 2022 crash), Gold etc. Stevenson’s basic claim is that the ultra-rich are buying up all the assets with the excess liquidity and driving up the prices of those assets. “If you have the wealth of the rich going up 5% and an economy that’s growing at 1 or 2%, there is nothing they can do, they outgrow the economy. The rich are squeezing the middle class out.”

A Betting Man

Sri Lanka’s own growing wealth and income disparities are well-established. A December 2022 report by the Department of Census and Statistics (Dharmadasa et al) notes that “the highest 10 percent of the population shared 32 percent of total income in 2016 while the lowest 10 percent of the population shared 3 percent in the same year”. The World Inequality Lab states that the “top 10% of Sri Lankans… own 64% of all personal wealth; the top 1% have 15% of all income and 31% of all wealth. The bottom 50% of Sri Lankans have just 17% of all income and only 4% of all personal wealth”.

A report by the Centre for Poverty Analysis (CEPA) from January 2021 prior to the economic crisis and the worst impacts of the pandemic, states that, “more than half the total household income of the country is enjoyed by the richest 20%… while the bottom decile (poorest 20%) gets only 5%, with share of household income being just 1.6% for the poorest 10%.”

Dr. Vagisha Gunasekera, an Economist attached to the United Nations Development Program (UNDP), was quoted in a poverty report from 2023: “The top one percent of Sri Lankans own 31 percent of the total personal wealth, while the bottom 50 percent only own less than 4 percent of the overall wealth in the country. This provides us with a snapshot of how unequal our country is”. The UNDP report called Sri Lanka one of the most unequal societies in the South-East Asian region.

Gary Stevenson is part of a group of UK-based high net-worth individuals called Patriotic Millionaires who are campaigning for a minimum 1% wealth tax on wealth over ten million pounds: “if you were worth 12 million pounds you pay 1% on 2 million pounds, which is 20,000 a year”. This would only impact a very small portion of tax payers and would raise between 10 and 20 billion pounds annually; in a context where the new Labour Government under Prime Minister Starmer has announced plans to cut more than five billion pounds from its welfare budget by 2029/30.

Sri Lanka, almost 3 years after a once-in-a-generation economic collapse and an IMF-backed revenue-based fiscal consolidation program, has barely been able to improve its income tax to GDP, depending instead on VAT and other indirect taxes as well as excise duty on alcohol and cigarettes. Corporate Tax to GDP on average was 1.5% for ten years before increasing to 2% in 2024, woefully below what more successful countries in our development peer-group tend to generate. While the government lost some Rs. 950 Bn in tax revenues from corporates in the last 21 months due to incentives, the working people of Sri Lanka continued to carry the burden of government revenue growth through VAT. Health, education systems are crumbling, more than 50% of households receive cash stipends from the government while demand for luxury vehicles remains, with depreciating assets like luxury SUVs priced at the same level as a luxury condominium unit in central Colombo. The prevalence of these dynamics and what it says about the internal economic distribution systems point to unsustainable economic arrangements and asset bubbles amidst rising income and wealth inequalities.

Stevenson notes that “My dad lived in an era of house price two-times income, I live in house-price 20-times income, my kids will live in 40-times income…” The point is simple: inequality is driving a historic concentration of wealth at the top of income and wealth structures. “Nobody likes paying tax, but the fact of the matter is, the wealth of the middle class and the wealth of the government is being drained by this super-rich group, how do we get it back? Rishi Sunak is worth 700 million pounds, that means he has a passive income every year of 30 million pounds… they use their passive income to buy more assets… tax is the only way that you, a regular working person, can protect yourself from the superrich”.

What makes Stevenson a fascinating and effective messenger is that he is still trading, making bets on the economy: “I don’t get paid to have opinions… I was one of the best paid and most successful traders in the world at one of the biggest banks in the world, I place bets and l’ve been betting for 14 years that the working class in my country and the working class in your country will collapse into desperate worsening poverty year after year and, I’m a multi-millionaire from doing that… I don’t just say this, I don’t just come on here and give my opinions, I’m betting on everything I’ve told you today….”

The writer has 15 years of experience in the Financial and Corporate sectors after completing a Degree in Accounting and Finance at the University of Kent (UK). He also holds a Masters in International Relations from the University of Colombo.

He is a media presenter, political commentator and Foreign Affairs analyst, invited regularly on television broadcasts as a resource-person.

He is also a member of the Working Committee of the Samagi Jana Balawegaya (SJB).

By Kusum Wijetilleke
kusumw@gmail.com
Twitter: @kusumw



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Midweek Review

Daya Pathirana killing and transformation of the JVP

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JVP leader Somawansa Amarasinghe, who returned to Sri Lanka in late Nov, 2001, ending a 12-year self-imposed exile in Europe, declared that India helped him flee certain death as the government crushed his party’s second insurrection against the state in the ’80s, using even death squads. Amarasinghe, sole surviving member of the original politburo of the JVP, profusely thanked India and former Prime Minister V.P. Singh for helping him survive the crackdown. Neither the JVP nor India never explained the circumstances New Delhi facilitated Amarasinghe’s escape, particularly against the backdrop of the JVP’s frenzied anti-India campaign. The JVP has claimed to have killed Indian soldiers in the East during the 1987-1989 period. Addressing his first public meeting at Kalutara, a day after his arrival, Amarasinghe showed signs that the party had shed its anti-India policy of yesteryears. The JVPer paid tribute to the people of India, PM Singh and Indian officials who helped him escape.

By Shamindra Ferdinando

Forty years after the killing of Daya Pathirana, the third head of the Independent Student Union (ISU) by the Socialist Students’ Union (SSU), affiliated with the JVP, one-time Divaina journalist Dharman Wickremaretne has dealt with the ISU’s connections with some Tamil terrorist groups. The LTTE (Liberation Tigers of Tamil Eelam) hadn’t been among them, according to Wickremaretne’s Daya Pathirana Ghathanaye Nodutu Peththa (The Unseen Side of Daya Pathirana Killing), the fifth of a series of books that discussed the two abortive insurgencies launched by the JVP in 1971 and the early ’80s.

Pathirana was killed on 15 December, 1986. His body was found at Hirana, Panadura. Pathirana’s associate, Punchiralalage Somasiri, also of the ISU, who had been abducted, along with Pathirana, was brutally attacked but, almost by a miracle, survived to tell the tale. Daya Pathirana was the second person killed after the formation of the Deshapremi Janatha Vyaparaya (DJV), the macabre wing of the JVP, in early March 1986. The DJV’s first head had been JVP politburo member Saman Piyasiri Fernando.

Its first victim was H. Jayawickrema, Principal of Middeniya Gonahena Vidyalaya, killed on 05 December, 1986. The JVP found fault with him for suspending several students for putting up JVP posters.

Wickremaretne, who had been relentlessly searching for information, regarding the violent student movements for two decades, was lucky to receive obviously unconditional support of those who were involved with the SSU and ISU as well as other outfits. Somasiri was among them.

Deepthi Lamaheva had been ISU’s first leader. Warnakulasooriya succeeded Lamahewa and was replaced by Pathirana. After Pathirana’s killing K.L. Dharmasiri took over. Interestingly, the author justified Daya Pathirana’s killing on the basis that those who believed in violence died by it.

Wickremaretne’s latest book, the fifth of the series on the JVP, discussed hitherto largely untouched subject – the links between undergraduates in the South and northern terrorists, even before the July 1983 violence in the wake of the LTTE killing 12 soldiers, and an officer, while on a routine patrol at Thinnavely, Jaffna.

The LTTE emerged as the main terrorist group, after the Jaffna killings, while other groups plotted to cause mayhem. The emergence of the LTTE compelled the then JRJ government to transfer all available police and military resources to the North, due to the constant attacks that gradually weakened government authority there. In Colombo, ISU and Tamil groups, including the PLOTE (People’s Liberation Tigers of Tamil Eelam) enhanced cooperation. Wickremaretne shed light on a disturbing ISU-PLOTE connection that hadn’t ever been examined or discussed or received sufficient public attention.

In fact, EROS (Eelam Revolutionary Organisation of Students), too, had been involved with the ISU. According to the author, the ISU had its first meeting on 10 April, 1980. In the following year, ISU established contact with the EPRLF (Eelam People’s Revolutionary Liberation Front). The involvement of ISU with the PLOTE and Wickremaretne revealed how the SSU probed that link and went to the extent of secretly interrogating ISU members in a bid to ascertain the details of that connection. ISU activist Pradeep Udayakumara Thenuwara had been forcibly taken to Sri Jayewardenepura University where he was subjected to strenuous interrogation by SSU in a bid to identify those who were involved in a high profile PLOTE operation.

The author ascertained that the SSU suspected Pathirana’s direct involvement in the PLOTE attack on the Nikaweratiya Police Station, and the Nikaweratiya branch of the People’s Bank, on April 26, 1985. The SSU believed that out of a 16-member gang that carried out the twin attacks, two were ISU members, namely Pathirana, and another identified as Thalathu Oya Seneviratne, aka Captain Senevi.

The SSU received information regarding ISU’s direct involvement in the Nikaweratiya attacks from hardcore PLOTE cadre Nagalingam Manikkadasan, whose mother was a Sinhalese and closely related to JVP’s Upatissa Gamanayake. The LTTE killed Manikkadasan in a bomb attack on a PLOTE office, in Vavuniya, in September, 1999. The writer met Manikkadasan, at Bambapalitiya, in 1997, in the company of Dharmalingham Siddharthan. The PLOTE had been involved in operations in support of President Chandrika Bandaranaike Kumaratunga’s administration.

It was President Premadasa who first paved the way for Tamil groups to enter the political mainstream. In spite of some of his own advisors expressing concern over Premadasa’s handling of negotiations with the LTTE, he ordered the then Elections Commissioner Chandrananda de Silva to grant political recognition to the LTTE. The LTTE’s political wing PFLT (People’s Front of Liberation Tigers) received recognition in early December, 1989, seven months before Eelam War II erupted.

Transformation of ISU

The author discussed the formation of the ISU, its key members, links with Tamil groups, and the murderous role in the overall counter insurgency campaign during JRJ and Ranasinghe Premadasa presidencies. Some of those who had been involved with the ISU may have ended up with various other groups, even civil society groups. Somasiri, who was abducted along with Pathirana at Thunmulla and attacked with the same specialised knife, but survived, is such a person.

Somasiri contested the 06 May Local Government elections, on the Jana Aragala Sandhanaya ticket. Jana Aragala Sandhanaya is a front organisation of the Frontline Socialist Party/ Peratugaami pakshaya, a breakaway faction of the JVP that also played a critical role in the violent protest campaign Aragalaya against President Gotabaya Rajapaksa. That break-up happened in April 2012, The wartime Defence Secretary, who secured the presidency at the 2019 presidential election, with 6.9 mn votes, was forced to give up office, in July 2022, and flee the country.

Somasiri and Jana Aragala Sandhanaya were unsuccessful; the group contested 154 Local Government bodies and only managed to secure only 16 seats whereas the ruling party JVP comfortably won the vast majority of Municipal Councils, Urban Councils and Pradeshiya Sabhas.

Let us get back to the period of terror when the ISU was an integral part of the UNP’s bloody response to the JVP challenge. The signing of the Indo-Lanka accord, in late July 1987, resulted in the intensification of violence by both parties. Wickremaretne disclosed secret talks between ISU leader K.L. Dharmasiri and the then Senior SSP (Colombo South) Abdul Cader Abdul Gafoor to plan a major operation to apprehend undergraduates likely to lead protests against the Indo-Lanka accord. Among those arrested were Gevindu Cumaratunga and Anupa Pasqual. Cumaratunga, in his capacity as the leader of civil society group Yuthukama, that contributed to the campaign against Yahapalanaya, was accommodated on the SLPP National List (2020 to 2024) whereas Pasqual, also of Yuthukama, entered Parliament on the SLPP ticket, having contested Kalutara. Pasqual switched his allegiance to Ranil Wickremesinghe after Gotabaya Rajapaksa’s ouster in July 2022.

SSU/JVP killed K.L. Dharmasiri on 19 August, 1989, in Colomba Kochchikade just a few months before the Army apprehended and killed JVP leader Rohana Wijeweera. Towards the end of the counter insurgency campaign, a section of the ISU was integrated with the military (National Guard). The UNP government had no qualms in granting them a monthly payment.

Referring to torture chambers operated at the Law Faculty of the Colombo University and Yataro operations centre, Havelock Town, author Wickremaretne underscored the direct involvement of the ISU in running them.

Maj. Tuan Nizam Muthaliff, who had been in charge of the Yataro ‘facility,’ located near State Defence Minister Ranjan Wijeratne’s residence, is widely believed to have shot Wijeweera in November, 1989. Muthaliff earned the wrath of the LTTE for his ‘work’ and was shot dead on May 3, 2005, at Polhengoda junction, Narahenpita. At the time of Muthaliff’s assassination, he served in the Military Intelligence.

Premadasa-SSU/JVP link

Ex-lawmaker and Jathika Chinthanaya Kandayama stalwart Gevindu Cumaratunga, in his brief address to the gathering, at Wickremaretne’s book launch, in Colombo, compared Daya Pathirana’s killing with the recent death of Nandana Gunatilleke, one-time frontline JVPer.

Questioning the suspicious circumstances surrounding Gunatilleke’s demise, Cumaratunga strongly emphasised that assassinations shouldn’t be used as a political tool or a weapon to achieve objectives. The outspoken political activist discussed the Pathirana killing and Gunatilleke’s demise, recalling the false accusations directed at the then UNPer Gamini Lokuge regarding the high profile 1986 hit.

Cumaratunga alleged that the SSU/JVP having killed Daya Pathirana made a despicable bid to pass the blame to others. Turning towards the author, Cumaratunga heaped praise on Wickremaretne for naming the SSU/JVP hit team and for the print media coverage provided to the student movements, particularly those based at the Colombo University.

Cumaratunga didn’t hold back. He tore into SSU/JVP while questioning their current strategies. At one point a section of the audience interrupted Cumaratunga as he made references to JVP-led Jathika Jana Balawegaya (JJB) and JJB strategist Prof. Nirmal Dewasiri, who had been with the SSU during those dark days. Cumaratunga recalled him attending Daya Pathirana’s funeral in Matara though he felt that they could be targeted.

Perhaps the most controversial and contentious issue raised by Cumaratunga was Ranasinghe Premadasa’s alleged links with the SSU/JVP. The ex-lawmaker reminded the SSU/JVP continuing with anti-JRJ campaign even after the UNP named Ranasinghe Premadasa as their candidature for the December 1988 presidential election. His inference was clear. By the time Premadasa secured the presidential nomination he had already reached a consensus with the SSU/JVP as he feared JRJ would double cross him and give the nomination to one of his other favourites, like Gamini Dissanayake or Lalith Athulathmudali.

There had been intense discussions involving various factions, especially among the most powerful SSU cadre that led to putting up posters targeting Premadasa at the Colombo University. Premadasa had expressed surprise at the appearance of such posters amidst his high profile ‘Me Kawuda’ ‘Monawada Karanne’poster campaign. Having questioned the appearance of posters against him at the Colombo University, Premadasa told Parliament he would inquire into such claims and respond. Cumaratunga alleged that night UNP goons entered the Colombo University to clean up the place.

The speaker suggested that the SSU/JVP backed Premadasa’s presidential bid and the UNP leader may have failed to emerge victorious without their support. He seemed quite confident of his assertion. Did the SSU/JVP contribute to Premadasa’s victory at one of the bloodiest post-independence elections in our history.

Cumaratunga didn’t forget to comment on his erstwhile comrade Anupa Pasqual. Alleging that Pasqual betrayed Yuthukama when he switched allegiance to Wickremesinghe, Cumaratunga, however, paid a glowing tribute to him for being a courageous responder, as a student leader.

SSU accepts Eelam

One of the most interesting chapters was the one that dealt with the Viplawadi Janatha Vimukthi Peramuna/Revolutionary Janatha Vimukthi Peramuna (RJVP), widely known as the Vikalpa Kandaya/Alternative Group and the ISU mount joint campaigns with Tamil groups. Both University groups received weapons training, courtesy PLOTE and EPRLF, both here, and in India, in the run-up to the so-called Indo-Lanka Peace Accord. In short, they accepted Tamils’ right to self-determination.

The author also claimed that the late Dharmeratnam Sivaram had been in touch with ISU and was directly involved in arranging weapons training for ISU. No less a person than PLOTE Chief Uma Maheswaran had told the author that PLOTE provided weapons training to ISU, free of charge ,and the JVP for a fee. Sivaram, later contributed to several English newspapers, under the pen name Taraki, beginning with The Island. By then, he propagated the LTTE line that the war couldn’t be brought to a successful conclusion through military means. Taraki was abducted near the Bambalapitiya Police Station on the night of 28 April, 2005, and his body was found the following day.

The LTTE conferred the “Maamanithar” title upon the journalist, the highest civilian honour of the movement.

In the run up to the Indo-Lanka Peace Accord, India freely distributed weapons to Tamil terrorist groups here who in turn trained Sinhala youth.

Had it been part of the overall Indian destabilisation project, directed at Sri Lanka? PLOTE and EPRLF couldn’t have arranged weapons training in India as well as terrorist camps here without India’s knowledge. Unfortunately, Sri Lanka never sought to examine the origins of terrorism here and identified those who propagated and promoted separatist ideals.

Exactly a year before Daya Pathirana’s killing, arrangements had been made by ISU to dispatch a 15-member group to India. But, that move had been cancelled after law enforcement authorities apprehended some of those who received weapons training in India earlier. Wickremaretne’s narrative of the students’ movement, with the primary focus of the University of Colombo, is a must read. The author shed light on the despicable Indian destabilisation project that, if succeeded, could have caused and equally destructive war in the South. In a way, Daya Pathirana’s killing preempted possible wider conflict in the South.

Gevindu Cumaratunga, in his thought-provoking speech, commented on Daya Pathirana. At the time Cumaratunga entered Colombo University, he hadn’t been interested at all in politics. But, the way the ISU strongman promoted separatism, influenced Cumaratunga to counter those arguments. The ex-MP recollected how Daya Pathirana, a heavy smoker (almost always with a cigarette in his hand) warned of dire consequences if he persisted with his counter views.

In fact, Gevindu Cumaratunga ensured that the ’80s terror period was appropriately discussed at the book launch. Unfortunately, Wickremaretne’s book didn’t cause the anticipated response, and a dialogue involving various interested parties. It would be pertinent to mention that at the time the SSU/JVP decided to eliminate Daya Pathirana, it automatically received the tacit support of other student factions, affiliated to other political parties, including the UNP.

Soon after Anura Kumara Dissanayake received the leadership of the JVP from Somawansa Amarasinghe, in December 2014, he, in an interview with Saroj Pathirana of BBC Sandeshaya, regretted their actions during the second insurgency. Responding to Pathirana’s query, Dissanayake not only regretted but asked for forgiveness for nearly 6,000 killings perpetrated by the party during that period. Author Wickremaretne cleverly used FSP leader Kumar Gunaratnam’s interview with Upul Shantha Sannasgala, aired on Rupavahini on 21 November, 2019, to remind the reader that he, too, had been with the JVP at the time the decision was taken to eliminate Daya Pathirana. Gunaratnam moved out of the JVP, in April 2012, after years of turmoil. It would be pertinent to mention that Wimal Weerawansa-Nandana Gunatilleke led a group that sided with President Mahinda Rajapaksa during his first term, too, and had been with the party by that time. Although the party split over the years, those who served the interests of the JVP, during the 1980-1990 period, cannot absolve themselves of the violence perpetrated by the party. This should apply to the JVPers now in the Jathika Jana Balawegaya (JJB), a political party formed in July 2019 to create a platform for Dissanayake to contest the 2019 presidential election. Dissanayake secured a distant third place (418,553 votes [3.16%])

However, the JVP terrorism cannot be examined without taking into JRJ’s overall political strategy meant to suppress political opposition. The utterly disgusting strategy led to the rigged December 1982 referendum that gave JRJ the opportunity to postpone the parliamentary elections, scheduled for August 1983. JRJ feared his party would lose the super majority in Parliament, hence the irresponsible violence marred referendum, the only referendum ever held here to put off the election. On 30 July, 1983, JRJ proscribed the JVP, along with the Nawa Sama Samaja Party and the Communist Party, on the false pretext of carrying out attacks on the Tamil community, following the killing of 13 soldiers in Jaffna.

Under Dissanayake’s leadership, the JVP underwent total a overhaul but it was Somawansa Amarasinghe who paved the way. Under Somawansa’s leadership, the party took the most controversial decision to throw its weight behind warwinning Army Chief General (retd) Sarath Fonseka at the 2010 presidential election. That decision, the writer feels, can be compared only with the decision to launch its second terror campaign in response to JRJ’s political strategy. How could we forget Somawansa Amarasinghe joining hands with the UNP and one-time LTTE ally, the Tamil National Alliance (TNA), to field Fonseka? Although they failed in that US-backed vile scheme, in 2010, success was achieved at the 2015 presidential election when Maithripala Sirisena was elected.

Perhaps, the JVP took advantage of the developing situation (post-Indo-Lanka Peace Accord), particularly the induction of the Indian Army here, in July 1987, to intensify their campaign. In the aftermath of that, the JVP attacked the UNP parliamentary group with hand grenades in Parliament. The August 1987 attack killed Matara District MP Keerthi Abeywickrema and staffer Nobert Senadheera while 16 received injuries. Both President JRJ and Prime Minister Ranasinghe Premadasa had been present at the time the two hand grenades were thrown at the group.

Had the JVP plot to assassinate JRJ and Premadasa succeeded in August 1987, what would have happened? Gevindu Cumaratunga, during his speech also raised a very interesting question. The nationalist asked where ISU Daya Pathirana would have been if he survived the murderous JVP.

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Midweek Review

Reaping a late harvest Musings of an Old Man

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I am an old man, having reached “four score and five” years, to describe my age in archaic terms. From a biological perspective, I have “grown old.” However, I believe that for those with sufficient inner resources, old age provides fertile ground to cultivate a new outlook and reap a late harvest before the sun sets on life.

Negative Characterisation of Old Age

My early medical education and training familiarised me with the concept of biological ageing: that every living organism inevitably undergoes progressive degeneration of its tissues over time. Old age is often associated with disease, disability, cognitive decline, and dependence. There is an inkling of futility, alienation, and despair as one approaches death. Losses accumulate. As Shakespeare wrote in Hamlet, “When sorrows come, they come not single spies, but in battalions.” Doctors may experience difficulty in treating older people and sometimes adopt an attitude of therapeutic nihilism toward a life perceived to be in decline.

Categorical assignment of symptoms is essential in medical practice when arriving at a diagnosis. However, placing an individual into the box of a “geriatric” is another matter, often resulting in unintended age segregation and stigmatisation rather than liberation of the elderly. Such labelling may amount to ageism. It is interesting to note that etymologically, the English word geriatric and the Sanskrit word jara both stem from the Indo-European root geront, meaning old age and decay, leading to death (jara-marana).

Even Sigmund Freud (1875–1961), the doyen of psychoanalysis, who influenced my understanding of personality structure and development during my psychiatric training, focused primarily on early development and youth, giving comparatively little attention to the psychology of old age. He believed that instinctual drives lost their impetus with ageing and famously remarked that “ageing is the castration of youth,” implying infertility not only in the biological sense. It is perhaps not surprising that Freud began his career as a neurologist and studied cerebral palsy.

Potential for Growth in Old Age

The model of human development proposed by the psychologist Erik Erikson (1902–1994), which he termed the “eight stages of man,” is far more appealing to me. His theory spans the entire life cycle, with each stage presenting a developmental task involving the negotiation of opposing forces; success or failure influences the trajectory of later life. The task of old age is to reconcile the polarity between “ego integrity” and “ego despair,” determining the emotional life of the elderly.

Ego integrity, according to Erikson, is the sense of self developed through working through the crises (challenges) of earlier stages and accruing psychological assets through lived experience. Ego despair, in contrast, results from the cumulative impact of multiple physical and emotional losses, especially during the final stage of life. A major task of old age is to maintain dignity amidst such emotionally debilitating forces. Negotiating between these polarities offers the potential for continued growth in old age, leading to what might be called a “meaningful finish.”

I do not dispute the concept of biological ageing. However, I do not regard old age as a terminal phase in which growth ceases and one is simply destined to wither and die. Though shadowed by physical frailty, diminishing sensory capacities and an apparent waning of vitality, there persists a proactive human spirit that endures well into late life. There is a need in old age to rekindle that spirit. Ageing itself can provide creative opportunities and avenues for productivity. The aim is to bring life to a meaningful close.

To generate such change despite the obstacles of ageing — disability and stigmatisation — the elderly require a sense of agency, a gleam of hope, and a sustaining aspiration. This may sound illusory; yet if such illusions are benign and life-affirming, why not allow them?

Sharon Kaufman, in her book The Ageless Self: Sources of Meaning in Late Life, argues that “old age” is a social construct resisted by many elders. Rather than identifying with decline, they perceive identity as a lifelong process despite physical and social change. They find meaning in remaining authentically themselves, assimilating and reformulating diverse life experiences through family relationships, professional achievements, and personal values.

Creative Living in Old Age

We can think of many artists, writers, and thinkers who produced their most iconic, mature, or ground-breaking work in later years, demonstrating that creativity can deepen and flourish with age. I do not suggest that we should all aspire to become a Monet, Picasso, or Chomsky. Rather, I use the term “creativity” in a broader sense — to illuminate its relevance to ordinary, everyday living.

Endowed with wisdom accumulated through life’s experiences, the elderly have the opportunity for developmental self-transformation — to connect with new identities, perspectives, and aspirations, and to engage in a continuing quest for purpose and meaning. Such a quest serves an essential function in sustaining mental health and well-being.

Old age offers opportunities for psychological adaptation and renewal. Many elders use the additional time afforded by retirement to broaden their knowledge, pursue new goals, and cultivate creativity — an old age characterised by wholeness, purpose, and coherence that keeps the human spirit alive and growing even as one’s days draw to a close.

Creative living in old age requires remaining physically, cognitively, emotionally, and socially engaged, and experiencing life as meaningful. It is important to sustain an optimistic perception of health, while distancing oneself from excessive preoccupation with pain and trauma. Positive perceptions of oneself and of the future help sustain well-being. Engage in lifelong learning, maintain curiosity, challenge assumptions — for learning itself is a meaning-making process. Nurture meaningful relationships to avoid disengagement, and enter into respectful dialogue, not only with those who agree with you. Cultivate a spiritual orientation and come to terms with mortality.

The developmental task of old age is to continue growing even as one approaches death — to reap a late harvest. As Rabindranath Tagore expressed evocatively in Gitanjali [‘Song Offerings’], which won him the Nobel Prize:: “On the day when death will knock at thy door, what wilt thou offer to him?

Oh, I will set before my guest the full vessel of my life — I will never let him go with empty hands.”

by Dr Siri Galhenage
Psychiatrist (Retired)
[sirigalhenage@gmail.com]

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Midweek Review

Left’s Voice of Ethnic Peace

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Multi-gifted Prof. Tissa Vitarana in passing,

Leaves a glowing gem of a memory comforting,

Of him putting his best foot forward in public,

Alongside fellow peace-makers in the nineties,

In the name of a just peace in bloodied Sri Lanka,

Caring not for personal gain, barbs or brickbats,

And for such humanity he’ll be remembered….

Verily a standard bearer of value-based politics.

By Lynn Ockersz

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