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ECONOMICS – FINANCE – WORLD NEWS – GREEK DEBT

Friday, #15

The Daily News Brief got its first mention on the website of Berlin-based magazine The European (careful, the article is in German): read article

Europe seems a bit of a better place today, with lower yields, large amounts of new prime ministers lined up and S&P officially saying “sorry, our bad” about accidentally ‘downgrading’ France yesterday. read article

Mario Monti is expected to become new prime minister of Italy and we should probably be happy about that. Ex-EU commissioner, expert on the European banking system and the single European market, Bocconi and Yale-educated economist, independent, no obvious ties to the mafia… what more do we want? Bloomberg says, as LSE research confirms below, that electing technocrats is a traditional reaction for Italy in times of crisis. Fair enough. Nonetheless, the Italian economy has come to a halt in quarter 3 and is expected to shrink until the end of the year. read article

At the same time, research from LSE professor Dr. Joachim Wehner, in cooperation with Prof. Mark Hallerberg from the Hertie School of Governance in Berlin, found that the likelihood of having elected officials with degrees in economics is higher in countries with financial problems. Now, did those guys just never go to their lectures…? Unfortunately, this data is not just as fun as the # of registered Porsche Cayenne and tax-paying individuals with a €50,000+ income in Greece (more of the former!). Rather, it’s related to technocrats being elected in troublesome times. read article

Here an article from Jonah Lehrer’s Frontal Cortex column in Wired on our inate hate of inequality, monkey business and how it all comes down to the philosophical question of what ‘deserving’ really means. read article

And finally, a market inefficiency to laugh about that reminds me of the days I was still allowed to eat sugar. read article

Have a good weekend, people.

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